At a glance
Omnicell Inc is worth $1.64B, about 899 times its fiscal 2025 earnings. Revenue grew 6.5% to $1.18B in fiscal 2025, with 0.2% kept as profit; over 5 years it has grown 5.8% a year. It pays no dividend; it spent $129.8M buying back its shares over FY2021–FY2025. The stock returned +20.1% over the past year with dividends reinvested and −26.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 37.4% in the 2020 crash (S&P 500: 33.7%) and 58.3% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Omnicell makes automated systems that store, track and dispense medications in hospitals and pharmacies. Its core product is the automated dispensing cabinet, which secures drugs, including controlled substances, in nursing units, operating rooms and emergency departments. Its next-generation system, Titan XT, links to OmniSphere, a cloud software platform designed to help health systems manage inventory and detect drug diversion (theft or misuse of medications by staff). Omnicell also offers pharmacy robotics and IV compounding machines, which prepare sterile intravenous doses.
The company works in two markets. Hospital and Health System Solutions covers equipment and software from the hospital loading dock to the bedside. Outpatient Pharmacy Solutions serves retail pharmacies and institutional pharmacies, such as those supplying long-term care facilities. It provides medication packaging, adherence tools, the EnlivenHealth patient engagement platform, and services for health-system specialty pharmacies and the federal 340B drug pricing program.
Revenue for the year ended December 31, 2025, was about $1.18 billion. Connected devices, software licenses and other items made up 47.7%. Technical services and SaaS and Expert Services each provided 21.9%. SaaS and Expert Services are software and service subscriptions, and some include Omnicell staff who run the equipment. Consumables such as medication packages added 8.5%. Some customers lease equipment through Omnicell financing. The United States supplied 89.9% of revenue.
Price history
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OMCL +20.1% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Connected devices, software licenses, and other | $565.5M | 47.7% |
| Technical services | $260.1M | 21.9% |
| SaaS and Expert Services | $259.1M | 21.9% |
| Consumables | $100.2M | 8.5% |
By geography
| United States | $1.07B | 89.9% |
| Rest of world | $119.8M | 10.1% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $312.2M, up 7.4% from a year earlier, and net income was $24.3M (+330.7%).
- For fiscal 2025, revenue was $1.18B (+6.5% year over year; +5.8% a year from FY2020 to FY2025) with a 0.2% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +5.8% good |
|---|---|
| Operating margin | 0.4% weak |
| Free cash flow margin | 7.3% watch |
| Return on equity (FY2025) | 0.2% weak |
| Return on assets (FY2025) | 0.1% weak |
| Net cash (cash minus debt) | $124.0M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $892.2M | $32.2M | $163.0M |
| FY2021 | $1.13B | $77.8M | $202.8M |
| FY2022 | $1.30B | $5.6M | $30.2M |
| FY2023 | $1.15B | $-20.4M | $139.6M |
| FY2024 | $1.11B | $12.5M | $151.3M |
| FY2025 | $1.18B | $2.1M | $86.9M |
Valuation snapshot
| Market value | $1.64B |
|---|---|
| P/E ratio | 898.8 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Omnicell’s market value went from $1.24B at the end of 2016 to $1.64B on Oct 28, 2026, up 32%; since the end of 2025 it is down 19%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $1.64B | -19.3% |
| 2025 | $2.03B | -1.4% |
| 2024 | $2.06B | +20.5% |
| 2023 | $1.71B | -24.0% |
| 2022 | $2.25B | -71.6% |
| 2021 | $7.93B | +56.2% |
| 2020 | $5.08B | +48.2% |
| 2019 | $3.43B | +41.2% |
| 2018 | $2.43B | +31.9% |
| 2017 | $1.84B | +48.6% |
| 2016 | $1.24B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| OMCL price data to Oct 28, 2026 | -20.6% | +20.1% | +1.0% | -26.9% | +1.0% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -20.6% |
| 2025 | +1.8% |
| 2024 | +18.3% |
| 2023 | -25.4% |
| 2022 | -72.1% |
| 2021 | +50.3% |
| 2020 | +46.9% |
| 2019 | +33.4% |
| 2018 | +26.3% |
| 2017 | +43.1% |
| 2016 | +9.1% |
| 2015 | -6.2% |
| 2014 | +29.7% |
| 2013 | +71.7% |
| 2012 | -10.0% |
| 2011 | +14.3% |
| 2010 | +23.6% |
| 2009 | -4.3% |
| 2008 | -54.7% |
| 2007 | +44.5% |
| 2006 | +55.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 76.1% over that stretch · deepest drop along the way 77.4%, back to its old high 60.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 34% over that stretch · deepest drop along the way 37.4%, back to its old high 7.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 58.3% over that stretch · deepest drop along the way 58.3%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 4 sales ($934K), 4 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Jul 15, 2026 | Randall A Lipps CHAIRMAN, CEO, Director | sell (plan) | $470K |
| May 18, 2026 | Corey J Manley EVP&CHIEF LEGAL/ADMIN OFFICER | sell (plan) | $217K |
| May 18, 2026 | Nnamdi Njoku EVP, Chief Operating Officer | sell (plan) | $134K |
| Aug 17, 2026 | Nnamdi Njoku President & COO | sell (plan) | $114K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 15.3% | Mar 31, 2025 |
| Vanguard Portfolio Management | 7.13% | Mar 31, 2026 |
| Wellington Management Group LLP | 6% | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 5.1% | Sep 30, 2025 |
| Vanguard Capital Management | 5% | Mar 31, 2026 |
| Millennium Management LLC | 3.8% | Jun 30, 2026 |
ETFs with the most weight in OMCL
| TXSS Texas Capital Texas Small Cap Equity Index ETF | 1.71% |
| HEAL Global X HealthTech ETF | 1.56% |
| NIXT Research Affiliates Deletions ETF | 0.97% |
| CAFG Pacer US Small Cap Cash Cows Growth Leaders ETF | 0.57% |
| QQQS Invesco NASDAQ Future Gen 200 ETF | 0.55% |
| SQLV Royce Quant Small‑Cap Quality Value ETF | 0.48% |
| ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF | 0.45% |
| SIXL ETC 6 Meridian Low Beta Equity ETF | 0.38% |
What could go wrong
- Squeezed hospital budgets could delay orders. Hospitals fund much of Omnicell's equipment from capital budgets. The company expects a $910 billion Medicaid spending cut under the One Big Beautiful Bill Act, plus tariffs and staff shortages, to squeeze those budgets.
- Installation delays can hurt results. Omnicell's systems must be installed inside working hospitals and pharmacies. Delays, including on central pharmacy automation projects, can harm operating results and Omnicell's competitive position, and make quarterly results harder to predict.
- Subscription shift may not pay off. Omnicell is moving toward SaaS and Expert Services, subscriptions that can include its staff running equipment. Customers might not renew, and errors or missed service levels could expose Omnicell to liability and lost revenue.
- 340B and specialty pharmacy exposure. Omnicell helps hospitals manage specialty pharmacies and 340B programs. 340B lets qualifying hospitals obtain outpatient drugs at discounted prices. Rule changes, or lost access to specialty drugs and pharmacy networks, could hurt this business.
- Convertible bonds and debt covenants. Omnicell's 2029 Notes are bonds that can convert into stock, which could dilute existing owners or weigh on the share price. Its credit agreement also has covenants (lender rules) restricting how it operates.
- Competition and purchasing-group relationships. Omnicell faces price competition and rivals with strong brands. Hospitals often contract through group purchasing organizations (GPOs), which negotiate deals for members. Losing those relationships could make it harder to reach those hospitals.
Recent events
- Quarterly results released
- Quarterly results released
- Executive or board change
- Executive or board change; Bylaws or fiscal year changed; Shareholder vote results
- Quarterly results released
- Quarterly results released
- Investor presentation or announcement
- Quarterly results released
For income and retirement investors
Omnicell does not pay a dividend and paid none from fiscal 2021 through fiscal 2025, so it offers no regular cash income. Anyone drawing money from it would have to cash in shares at the going price. The company has returned some cash through share repurchases: about $129.8 million over those five years, including $77.6 million in fiscal 2025. Even so, the share count rose 3.8% between October 29, 2021, and July 29, 2026, to about 45.6 million shares.
The shares have fallen hard in downturns. They dropped 77.4% in the 2008 financial crisis and took about 60 months to recover. In the 2020 COVID crash they fell 37.4% and recovered in about seven months. In the 2022 bear market they lost 58.3% and had not regained their January 3, 2022, peak as of October 28, 2026. Single stocks carry more risk than diversified funds that spread money across many companies.
Questions investors ask
Does Omnicell pay a dividend?
No. Omnicell does not pay a dividend and paid none from fiscal 2021 through fiscal 2025. Instead, it has returned some cash through share repurchases: about $129.8 million over those five years, including $77.6 million in fiscal 2025. The repurchases did not shrink the share count, which rose 3.8% between October 29, 2021, and July 29, 2026. Investors seeking regular income get none from this stock.
How does Omnicell make money?
Mainly by providing hospitals and pharmacies with automated medication dispensing systems and related services. In fiscal 2025, which ended December 31, 2025, connected devices, software licenses and other items brought in 47.7% of its $1.18 billion revenue. Technical services and SaaS and Expert Services (software and service subscriptions) each provided 21.9%, and consumables such as medication packages added 8.5%. The United States accounted for 89.9% of revenue.
Is Omnicell profitable?
Only slightly. In fiscal 2025, Omnicell earned net income of about $2.1 million, or $0.04 per diluted share, on $1.18 billion of revenue. That means it kept just 0.2% of revenue as profit. Net income was down 83.6% from fiscal 2024, and the company lost about $20.4 million in fiscal 2023. Free cash flow, the cash left after running the business and investing in equipment, was stronger at about $86.9 million. In the quarter ended June 30, 2026, net income rose 330.7% from a year earlier to $24.3 million.
How has Omnicell stock performed over the long run?
Poorly over five years and only slightly positive over ten. As of October 28, 2026, the share price was down about 79% over five years and up about 10% over ten years in total. The stock gained 50.3% in 2021, then fell 72.1% in 2022 and 25.4% in 2023. From the start of 2026 through October 28 it was down 20.6%, though it was up 20.1% over the prior year. Its deepest drop from a peak was 86.6%.
How much debt does Omnicell have?
Less than it holds in cash. As of June 30, 2026, Omnicell had total debt of about $168.2 million and cash and investments of about $292.2 million, leaving net cash of about $124.0 million. Its borrowings include convertible notes due 2029, which are bonds that can turn into shares and could dilute existing owners. Omnicell's annual report still calls its debt substantial and says covenants in its credit agreement restrict parts of its business.