OSI Systems, Inc. (OSIS)

NASDAQInformation TechnologyHardware, Equipment & PartsSnapshot 2026-10-23

$197.48-1.50%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge OSI Systems, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
FY 2027 · Q2
Revenue	—	468.14M
EPS	—	2.672
FY 2027 · Annual
Revenue	$1.88B–$1.93B	1.91B
EPS	$11.13–$11.49non-GAAP	11.37
FY 2028 · Annual
Revenue	—	2.03B
EPS	—	12.818

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
EPS at or above $10.3 for fiscal 2026	The company reaffirmed EPS guidance near $10.5 for fiscal 2026.	Intact	EPS guidance cut below $10 next fiscal year	Diluted EPS: $3.27 per share FY2026-Q4; GAAP. Published target: >= $10.3. Target period is not explicitly aligned with this observation. Source published Aug 21, 20263.27 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q4 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 74bf6e2e-219c-42a1-9b0c-ac3368d78824. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Operating income stabilizes above $53 million in Q3 2026	A primary condition in OSI Systems, Inc.'s published investment case. The stated target is >= $53 million.	Under Pressure	Operating income falls below $50 million next 4 quarters	Operating income: $73.888M FY2026-Q4; GAAP. Published target: >= $53 million. Target period is not explicitly aligned with this observation. Source published Aug 21, 202673,888,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q4 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 74bf6e2e-219c-42a1-9b0c-ac3368d78824. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Operating income remained stable, $217.5 million in 2025-Q4 to $219.0 million in 2026-Q4. Healthcare division margin improved significantly from 1% to 10% in 2026-Q4. Management's focus on operational improvements and profitability shows delivering progress, though overall operating income growth is limited. Delivery assessment Oct 24, 2026
Revenue grows to at least $1.825 billion in fiscal 2026	A primary condition in OSI Systems, Inc.'s published investment case. The stated target is >= $1.825 billion.	Intact	Revenue falls below $1.7 billion in FY26	Revenue: $484.058M FY2026-Q4; GAAP. Published target: >= $1.825 billion. Target period is not explicitly aligned with this observation. Source published Aug 21, 2026484,058,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q4 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 74bf6e2e-219c-42a1-9b0c-ac3368d78824. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Fiscal year 2026 revenues grew from $1.713 billion in 2025-Q4 to $1.786 billion in 2026-Q4, a 4% increase. The backlog remained strong at approximately $1.9 billion in 2026-Q4. Management consistently emphasized revenue growth supported by backlog and opportunity pipeline, indicating delivering progress on this priority. Delivery assessment Oct 24, 2026
Maintain PE below 25, cheaper than peer median of 39.4	Valuation is cheap compared to peers with a PE of 23 versus 39.	Intact	PE rises above 30 without earnings growth	P/E (TTM): 19.02x As of 2026-10-23; trailing twelve months. The target timing and basis require a separate assessment. Market data as of Oct 23, 202619.025 ratio · calculatedLast status assessment Oct 24, 2026 Measurement source consolidated · TTM valuation Period ending Oct 23, 2026 Source: mart.stock_valuation_daily. Reference: OSIS:2026-10-23. Source status: canonical calculation. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2028 · fiscal year ending 2028-06-30 · fmp

FY2028 EPS: comparable history unavailable.

FY2028 revenue: comparable history unavailable.

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2028 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	3 / 4
2026-07-25	Unavailable	Unavailable	3 / 4
2026-07-26	Unavailable	Unavailable	3 / 4
2026-07-27	Unavailable	Unavailable	3 / 4
2026-07-28	Unavailable	Unavailable	3 / 4
2026-07-29	Unavailable	Unavailable	3 / 4
2026-07-30	Unavailable	Unavailable	3 / 4
2026-07-31	Unavailable	Unavailable	3 / 4
2026-08-01	Unavailable	Unavailable	3 / 4
2026-08-02	Unavailable	Unavailable	3 / 4
2026-08-03	Unavailable	Unavailable	3 / 4
2026-08-04	Unavailable	Unavailable	3 / 4
2026-08-05	Unavailable	Unavailable	3 / 4
2026-08-06	Unavailable	Unavailable	3 / 4
2026-08-07	Unavailable	Unavailable	3 / 4
2026-08-08	Unavailable	Unavailable	3 / 4
2026-08-09	Unavailable	Unavailable	3 / 4
2026-08-10	Unavailable	Unavailable	3 / 4
2026-08-12	Unavailable	Unavailable	3 / 4
2026-08-13	Unavailable	Unavailable	3 / 4
2026-08-14	Unavailable	Unavailable	3 / 4
2026-08-15	Unavailable	Unavailable	3 / 4
2026-08-16	Unavailable	Unavailable	3 / 4
2026-08-17	Unavailable	Unavailable	3 / 4
2026-08-18	Unavailable	Unavailable	3 / 4
2026-08-19	Unavailable	Unavailable	3 / 4
2026-08-20	Unavailable	Unavailable	3 / 4
2026-08-21	Unavailable	Unavailable	3 / 4
2026-08-22	Unavailable	Unavailable	3 / 4
2026-08-23	Unavailable	Unavailable	4 / 4
2026-08-24	Unavailable	Unavailable	4 / 4
2026-08-25	Unavailable	Unavailable	4 / 4
2026-08-26	Unavailable	Unavailable	4 / 4
2026-08-27	Unavailable	Unavailable	4 / 4
2026-08-28	Unavailable	Unavailable	4 / 4
2026-08-29	Unavailable	Unavailable	4 / 4
2026-08-30	Unavailable	Unavailable	4 / 4
2026-08-31	Unavailable	Unavailable	4 / 4
2026-09-01	Unavailable	Unavailable	4 / 4
2026-09-02	Unavailable	Unavailable	4 / 4
2026-09-03	Unavailable	Unavailable	4 / 4
2026-09-04	Unavailable	Unavailable	4 / 4
2026-09-05	Unavailable	Unavailable	4 / 4
2026-09-06	Unavailable	Unavailable	4 / 4
2026-09-07	Unavailable	Unavailable	4 / 4
2026-09-08	Unavailable	Unavailable	4 / 4
2026-09-09	Unavailable	Unavailable	4 / 4
2026-09-10	Unavailable	Unavailable	4 / 4
2026-09-11	Unavailable	Unavailable	4 / 4
2026-09-12	Unavailable	Unavailable	4 / 4
2026-09-13	Unavailable	Unavailable	4 / 4
2026-09-14	Unavailable	Unavailable	4 / 4
2026-09-15	Unavailable	Unavailable	4 / 4
2026-09-16	Unavailable	Unavailable	4 / 4
2026-09-17	Unavailable	Unavailable	4 / 4
2026-09-18	Unavailable	Unavailable	4 / 4
2026-09-19	Unavailable	Unavailable	4 / 4
2026-09-20	Unavailable	Unavailable	4 / 4
2026-09-21	Unavailable	Unavailable	4 / 4
2026-09-22	Unavailable	Unavailable	4 / 4
2026-09-23	Unavailable	Unavailable	4 / 4
2026-09-24	Unavailable	Unavailable	4 / 4
2026-09-25	Unavailable	Unavailable	4 / 4
2026-09-26	Unavailable	Unavailable	4 / 4
2026-09-27	Unavailable	Unavailable	4 / 4
2026-09-28	Unavailable	Unavailable	4 / 4
2026-09-29	Unavailable	Unavailable	4 / 4
2026-09-30	Unavailable	Unavailable	4 / 4
2026-10-01	Unavailable	Unavailable	4 / 4
2026-10-02	Unavailable	Unavailable	4 / 4
2026-10-03	Unavailable	Unavailable	4 / 4
2026-10-04	Unavailable	Unavailable	4 / 4
2026-10-05	Unavailable	Unavailable	4 / 4
2026-10-06	Unavailable	Unavailable	4 / 4
2026-10-07	Unavailable	Unavailable	4 / 4
2026-10-08	Unavailable	Unavailable	4 / 4
2026-10-09	Unavailable	Unavailable	4 / 4
2026-10-10	Unavailable	Unavailable	4 / 4
2026-10-11	Unavailable	Unavailable	4 / 4
2026-10-12	Unavailable	Unavailable	4 / 4
2026-10-13	Unavailable	Unavailable	4 / 4
2026-10-14	Unavailable	Unavailable	4 / 4
2026-10-15	Unavailable	Unavailable	4 / 4
2026-10-16	Unavailable	Unavailable	4 / 4
2026-10-17	Unavailable	Unavailable	4 / 4
2026-10-18	Unavailable	Unavailable	4 / 4
2026-10-19	Unavailable	Unavailable	4 / 4
2026-10-20	Unavailable	Unavailable	4 / 4
2026-10-21	Unavailable	Unavailable	4 / 4
2026-10-22	Unavailable	Unavailable	4 / 4
2026-10-23	Unavailable	Unavailable	4 / 4
2026-10-24	Unavailable	Unavailable	4 / 4

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	6	1
2026-06-01	6	1
2026-07-01	6	1
2026-08-01	6	1
2026-09-01	6	1
2026-10-01	6	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 6 Buy / Strong Buy · 1 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 25–Oct 24 · 1 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

OppenheimerOct 8 · prior Aug 21

$300.00 → $265.00-11.7%

$0$165.00$330.00

0 raises · 1 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

EPS at or above $10.3 for fiscal 2026Diluted EPS: $3.27 per share
Operating income stabilizes above $53 million in Q3 2026Published status: Under Pressure
Revenue grows to at least $1.825 billion in fiscal 2026Revenue: $484.058M
Maintain PE below 25, cheaper than peer median of 39.4P/E (TTM): 19.02x

Next proof point

Oct 29, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.0%Typical daily move · historical

Downside history

-37.9%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

OSI Systems, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

OSIS is a low-priced-versus-peers execution story, with recent financial performance improving rather than a clear, steady compounder profile. Its long-term thesis is intact, though the evidence snapshot rates earnings quality as fragile and overall risk as elevated.

What's priced into OSI Systems, Inc.

The valuation evidence describes OSIS as cheap versus peers, and the market expectations gap is slightly negative, suggesting expectations are not demanding. The priced-in assessment says current fragility is justified, but does not find that weak execution, expensive valuation, and a turbulent setting are all stacked together.

What the fundamentals likely do

Near-term results have been strong: fiscal 2026 revenue rose 4%, backlog remained about $1.9 billion, and operating cash flow reached $276 million for the year. Management is making progress on revenue and cash flow, while operating income was nearly flat despite a sharp improvement in healthcare margins. A guidance cut is a key near-term risk, especially given the company’s history of a deep miss and recent peer misses.

What OSI Systems, Inc. hinges on

Over the next few quarters, the thesis depends on sustaining growth from backlog and opportunity pipeline without cutting guidance, while converting operational improvements into stronger overall operating income. Fed rate cuts and continued earnings strength from sector peers could support the sector backdrop, but these are conditional signals rather than evidence of OSIS-specific execution.