(INSP) Inspire Medical Systems - Overview
Sector: Healthcare | Industry: Medical Devices | Exchange: NYSE (USA) | Market Cap: 1.263m USD | Total Return: -70.7% in 12m
Avg Turnover: 54.0M
Qual. Beats: 0
Rev. Trend: 97.6%
Qual. Beats: 3
Warnings
Earnings expected to drop: P/E 10.0 → Forward 101.0
Below Avwap Earnings
Tailwinds
No distinct edge detected
Inspire Medical Systems (NYSE: INSP) is a medical technology firm specializing in minimally invasive treatments for obstructive sleep apnea (OSA). The company’s primary offering is the Inspire system, a neurostimulation device that monitors patient respiration and delivers mild stimulation to the hypoglossal nerve to prevent airway obstruction during sleep.
Operating within the healthcare equipment sector, the company utilizes a direct sales model to target ENT surgeons and sleep centers. Unlike traditional Continuous Positive Airway Pressure (CPAP) therapy, which relies on external air pressure, Inspire’s closed-loop technology functions as an internal alternative for patients who are non-compliant with or intolerant of mask-based treatments.
For a deeper look into the companys valuation metrics and financial health, consider reviewing the data available on ValueRay. Founded in 2007 and headquartered in Minnesota, Inspire Medical Systems maintains a commercial presence in both United States and international markets.
- Expanded patient eligibility criteria drive increased total addressable market for Inspire therapy
- Commercial insurance coverage expansion accelerates patient adoption and revenue growth
- Physician training and surgical center activation rates dictate quarterly implant volume
- Competitive entry of GLP-1 drugs impacts long-term sleep apnea treatment demand
- Regulatory approvals for MRI compatibility and pediatric indications enhance product competitiveness
| Net Income: 131.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA -0.18 > 1.0 |
| NWC/Revenue: 52.16% < 20% (prev 60.49%; Δ -8.33% < -1%) |
| CFO/TA 0.15 > 3% & CFO 136.5m > Net Income 131.1m |
| Net Debt (-254.3m) to EBITDA (72.2m): -3.52 < 3 |
| Current Ratio: 6.34 > 1.5 & < 3 |
| Outstanding Shares: last quarter (28.7m) vs 12m ago -5.31% < -2% |
| Gross Margin: 85.78% > 18% (prev 0.85%; Δ 8.49k% > 0.5%) |
| Asset Turnover: 111.5% > 50% (prev 115.0%; Δ -3.49% > 0%) |
| Interest Coverage Ratio: 410.4 > 6 (EBITDA TTM 72.2m / Interest Expense TTM 137k) |
| A: 0.52 (Total Current Assets 566.8m - Total Current Liabilities 89.4m) / Total Assets 911.4m |
| B: -0.17 (Retained Earnings -157.8m / Total Assets 911.4m) |
| C: 0.07 (EBIT TTM 56.2m / Avg Total Assets 821.1m) |
| D: -1.33 (Book Value of Equity -158.1m / Total Liabilities 119.0m) |
| Altman-Z'' = 1.94 = BBB |
| DSRI: 1.04 (Receivables 105.1m/92.6m, Revenue 915.2m/840.1m) |
| GMI: 0.99 (GM 85.78% / 84.65%) |
| AQI: 3.11 (AQ_t 0.24 / AQ_t-1 0.08) |
| SGI: 1.09 (Revenue 915.2m / 840.1m) |
| TATA: -0.01 (NI 131.1m - CFO 136.5m) / TA 911.4m) |
| Beneish M = -1.70 (Cap -4..+1) = CCC |
As of May 27, 2026, the stock is trading at USD 41.99 with a total of 1,204,646 shares traded.
Over the past week, the price has changed by +0.38%,
over one month by -23.75%,
over three months by -38.30% and
over the past year by -70.67%.
Inspire Medical Systems has received a consensus analysts rating of 4.17. Therefore, it is recommended to buy INSP.
- StrongBuy: 8
- Buy: 5
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 53.3 | 27% |
P/E Trailing = 9.9636
P/E Forward = 101.0101
P/S = 1.3801
P/B = 1.5942
Revenue TTM = 915.2m USD
EBIT TTM = 56.2m USD
EBITDA TTM = 72.2m USD
Long Term Debt = unknown (none)
Short Term Debt = 2.16m USD (from shortTermDebt, last fiscal year)
Debt = 29.6m USD (from shortLongTermDebtTotal, last quarter) (leases 29.6m already included)
Net Debt = -254.3m USD (calculated: Debt 29.6m - CCE 283.8m)
Enterprise Value = 1.01b USD (1.26b + Debt 29.6m - CCE 283.8m)
Interest Coverage Ratio = 410.4 (Ebit TTM 56.2m / Interest Expense TTM 137k)
EV/FCF = 10.43x (Enterprise Value 1.01b / FCF TTM 96.7m)
FCF Yield = 9.59% (FCF TTM 96.7m / Enterprise Value 1.01b)
FCF Margin = 10.57% (FCF TTM 96.7m / Revenue TTM 915.2m)
Net Margin = 14.33% (Net Income TTM 131.1m / Revenue TTM 915.2m)
Gross Margin = 85.78% ((Revenue TTM 915.2m - Cost of Revenue TTM 130.2m) / Revenue TTM)
Gross Margin QoQ = 86.47% (prev 86.59%)
Tobins Q-Ratio = 1.11 (Enterprise Value 1.01b / Total Assets 911.4m)
Interest Expense / Debt = 0.46% (Interest Expense 137k / Debt 29.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = 44.4m (EBIT 56.2m * (1 - 21.00%))
Current Ratio = 6.34 (Total Current Assets 566.8m / Total Current Liabilities 89.4m)
Debt / Equity = 0.04 (Debt 29.6m / totalStockholderEquity, last quarter 792.3m)
Debt / EBITDA = -3.52 (Net Debt -254.3m / EBITDA 72.2m)
Debt / FCF = -2.63 (Net Debt -254.3m / FCF TTM 96.7m)
Total Stockholder Equity = 729.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 15.97% (Net Income 131.1m / Total Assets 911.4m)
RoE = 14.78% (Net Income TTM 131.1m / Total Stockholder Equity 887.2m)
RoCE = 6.84% (EBIT 56.2m / Capital Employed (Total Assets 911.4m - Current Liab 89.4m))
RoIC = 5.67% (NOPAT 44.4m / Invested Capital 783.1m)
WACC = 6.28% (E(1.26b)/V(1.29b) * Re(6.42%) + D(29.6m)/V(1.29b) * Rd(0.46%) * (1-Tc(0.21)))
Discount Rate = 6.42% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -24.10 | Cagr: 0.0%
[DCF] Terminal Value 77.97% ; FCFF base≈89.6m ; Y1≈102.7m ; Y5≈151.1m
[DCF] Fair Price = 87.74 (EV 2.27b - Net Debt -254.3m = Equity 2.53b / Shares 28.8m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.08 | # QB: 0
Revenue Correlation: 97.55 | Revenue CAGR: 22.73% | SUE: 2.36 | # QB: 3
EPS current Quarter (2026-06-30): EPS=-0.25 | Chg30d=-197.75% | Revisions=-75% | Analysts=12
EPS next Quarter (2026-09-30): EPS=0.16 | Chg30d=-66.88% | Revisions=-62% | Analysts=12
EPS current Year (2026-12-31): EPS=0.90 | Chg30d=-54.01% | Revisions=-76% | GrowthEPS=-62.8% | GrowthRev=-7.6%
EPS next Year (2027-12-31): EPS=1.32 | Chg30d=-49.40% | Revisions=-73% | GrowthEPS=+46.3% | GrowthRev=+4.0%
[Analyst] Revisions Ratio: -76%