iRhythm Holdings (IRTC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

iRhythm Holdings

NasdaqGS•Healthcare•Medical Devices

$111.82-0.06(<0.01%)Pre-market

Market Cap

$3.68B

P/S

4.5x

P/B

19.8x

iRhythm Holdings, Inc., a digital healthcare company, engages in the design, development, and commercialization of device-based technology that provides ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. The company offers Zio ambulatory cardiac monitoring services, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services. It also provides Zio Monitor System, a prescription-only remote electrocardiogram (ECG) monitoring system consisting a patch ECG monitor that records the electric signal from the heart continuously for up to 14 days; Zio XT System, a prescription-only remote ECG monitoring system that consists of the Zio XT patch that records the electric signal from the heart continuously for up to 14 days; and Zio ECG Utilization Software System, which supports the capture and analysis of ECG data. In addition, the company offers Zio AT System, a prescription-only remote ECG monitoring system, which consists of the Zio AT patch that records the electric signal from the heart continuously for up to 14 days, as well as incorporates the Zio AT wireless gateway to provide connectivity between the patch and the ZEUS System during the patient wear period. It has a development collaboration agreement with BioIS to develop and commercialize pulse oximetry, accelerometry, and trending non-invasive blood pressure technologies for use within ambulatory cardiac monitoring products and services. The company was formerly known as iRhythm Technologies, Inc. and changed its name to iRhythm Holdings, Inc. in January 2026. iRhythm Holdings, Inc. was incorporated in 2006 and is headquartered in San Francisco, California.

How this company scores

WeakMetricSide Score: 58/100

Grade capped at D — Interest coverage below 1× (-1.9x) — earnings cannot cover interest. Strongest: Growth (20/25); weakest: Balance Sheet & Red Flags (6/25).

Profitability17/25

Growth20/25

Balance Sheet & Red Flags6/25

Cash & Earnings Quality15/25

Strengths

Growing revenueRising free cash flowLong cash runwayProfit converts from growth

Grade capped at D

Interest coverage below 1× (-1.9x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 4.5x5y range 4.1x – 7.8x

Currently near its 20-quarter median.

P/B · 19.8x5y range 7.1x – 47.5x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -13.5x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $3.68B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $825.34M
Q. Revenue: $224.17M
TTM EBITDA: $-4.27M
TTM Op. Income: $-24.87M
Q. Op. Income: $-2.54M
TTM Net Income: $-13.95M
Q. Net Income: $-381,000
EPS: $-0.01
Shares Out.: $32.90M

$825.34M in TTM revenue grew 25.6% YoY, reaching $224.17M last quarter. TTM EBITDA of $-4.27M and TTM operating income of $-24.87M show growth is flowing through to the bottom line. However, net income is negative at $13.95M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 72.8%
EBITDA Margin: 1.2%
Op. Margin: -1.1%
Net Margin: -0.2%

Op. margin of -1.1% is up 8.9% YoY — cost efficiency is improving. Net margin at -0.2% and gross margin of 72.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 89% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 4.5x
P/B Ratio: 19.8x

P/S of 4.5x and P/B of 19.8x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.09B
Cash: $246.68M
Long-Term Debt: $651.10M
Book Value: $185.98M
D/E Ratio: 3.5
Debt/EBITDA: 245.0

With $1.09B in assets and $651.10M in long-term debt, D/E is 3.5and book value is $185.98M — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has fallen for 5 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $51.08M
TTM Free Cash Flow: $38.98M
FCF Margin: 4.7%
FCF / Net Income: -2.8

TTM FCF of $38.98M on $51.08M in operating cash flow. The FCF / Net Income ratio of -2.8x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 40% — an improving trend.