Stock

Insulet

PODD
68
Medical - Devices · Healthcare
Price
$141.10
+2.33 (+1.68%)
Market Cap
$9.79B
Exchange
NASDAQ
Winston Score
68
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 18, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Strong
25/30
Growth
Strong
15/20
Cash Flow
Exceptional
9/10
Stability
Strong
7/10
Valuation
Strong
7/10
Ownership
Weak
2/15
Dividends
Not counted
n/a

65 of 95 counted points = Winston Score 68. Pillars marked n/a do not apply to this company and are left out of the total.

Share count rising — dilution

+4.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 68.6M (2021) → 71.9M (2025)

§Winston Score History

The full picture

Insulet Corporation makes a wearable insulin delivery device called the Omnipod, which helps people with diabetes manage their blood sugar without traditional insulin pumps or multiple daily injections. The Omnipod is a small, tubeless patch that sticks directly to the skin and delivers insulin automatically. Insulet sells primarily to people with Type 1 diabetes, though it is expanding into Type 2, and works through pharmacies, distributors, and healthcare providers.

Insulet earns money by selling the Omnipod hardware pods, which are disposable and replaced every three days, creating a steady stream of recurring revenue. The company operates in the United States and internationally, with Europe being a significant market, and generates roughly $2 billion in annual revenue. Its main competitive advantage is the tubeless, patch-based design, which many users prefer over traditional tethered pumps. The key growth driver is expanding adoption among Type 2 diabetes patients, a much larger population, though competition from other automated insulin delivery systems remains a real risk.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+23.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+328.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$301M/ year

↑ Rising (+37% vs prior year)

11.1% of revenue

Below sector average (18%)

Investing heavily in future products and technology

Insider Activity

0.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$535M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Insulet is a rare growth stock that's already generating positive cash flow while growing at 24%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
70.2%
Premium pricing power — 70.2% gross margin
Profit after running costs
Operating Margin
16.2%
Healthy — 16.2% operating margin
Return on the money invested
ROCE
21.8%
Exceptional — 21.8% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+29.4%
Fast-growing sales (+29.4% YoY)
Profit growth
EPS YoY
+59.1%
Earnings growing fast (+59.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
167%
Turns 167% of profit into real cash
Spare cash per sale
FCF Margin
12.6%
Converts sales into free cash efficiently (12.6%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.67
Moderate — manageable debt (0.67)
Covers its interest
Interest Cover
8.14x
Comfortably covers interest (8.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
26.3x
Growth-priced — P/E 26.3

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+11.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (26.3 → 15.3)

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Dividends

Not applicable for this business.
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