(INSP) Inspire Medical Systems - Overview

Sector: Healthcare | Industry: Medical Devices | Exchange: NYSE (USA) | Market Cap: 1.584m USD | Total Return: -63.8% in 12m

Medical Devices, Sleep Therapy, Neurostimulation
Total Rating 37
Safety 57
Buy Signal -1.36
Medical Devices
Industry Rotation: -5.6
Market Cap: 1.58B
Avg Turnover: 49.2M USD
ATR: 6.37%
Peers RS (IBD): 21.9
Risk 5d forecast
Volatility66.3%
Rel. Tail Risk-16.8%
Reward TTM
Sharpe Ratio-1.12
Alpha-67.82
Character TTM
Beta-0.116
Beta Downside-2.429
Drawdowns 3y
Max DD84.63%
CAGR/Max DD-0.46
EPS (Earnings per Share) EPS (Earnings per Share) of INSP over the last years for every Quarter: "2021-03": -0.6, "2021-06": -0.48, "2021-09": -0.38, "2021-12": -0.09, "2022-03": -0.61, "2022-06": -0.53, "2022-09": -0.6, "2022-12": 0.1, "2023-03": -0.53, "2023-06": -0.41, "2023-09": -0.29, "2023-12": 0.49, "2024-03": -0.34, "2024-06": 0.32, "2024-09": 0.6, "2024-12": 1.15, "2025-03": 0.1, "2025-06": 0.45, "2025-09": 0.38, "2025-12": 1.65, "2026-03": 0,
EPS CAGR: 58.99%
EPS Trend: 68.7%
Last SUE: -0.36
Qual. Beats: 0
Revenue Revenue of INSP over the last years for every Quarter: 2021-03: 40.352, 2021-06: 52.959, 2021-09: 61.685, 2021-12: 78.398, 2022-03: 69.382, 2022-06: 91.386, 2022-09: 109.188, 2022-12: 137.9, 2023-03: 127.897, 2023-06: 151.092, 2023-09: 153.302, 2023-12: 192.508, 2024-03: 164.01, 2024-06: 195.885, 2024-09: 203.191, 2024-12: 239.718, 2025-03: 201.317, 2025-06: 217.086, 2025-09: 224.501, 2025-12: 269.077, 2026-03: null,
Rev. CAGR: 43.54%
Rev. Trend: 92.4%
Last SUE: 1.42
Qual. Beats: 2

Warnings

Volatile

Tailwinds

No distinct edge detected

Description: INSP Inspire Medical Systems

Inspire Medical Systems Inc. (INSP) develops and commercializes minimally invasive solutions for obstructive sleep apnea (OSA). Their primary product, the Inspire system, uses neurostimulation for moderate to severe OSA.

The company operates in the Health Care Technology sector, focusing on medical devices. Their business model centers on developing and selling advanced therapeutic devices for a chronic condition.

INSPs technology involves a closed-loop system that monitors breathing and delivers hypoglossal nerve stimulation to maintain an open airway. This represents a distinct approach compared to traditional OSA treatments like CPAP machines.

For more detailed analysis of INSPs market position and financial performance, explore ValueRay.

Headlines to Watch Out For
  • Increased Inspire system adoption drives revenue growth
  • Reimbursement policy changes impact treatment accessibility
  • Clinical trial results influence market expansion
  • Competitive landscape intensifies pricing pressure
Piotroski VR‑10 (Strict) 6.0
Net Income: 145.4m TTM > 0 and > 6% of Revenue
FCF/TA: 0.09 > 0.02 and ΔFCF/TA -2.73 > 1.0
NWC/Revenue: 53.47% < 20% (prev 67.55%; Δ -14.09% < -1%)
CFO/TA 0.13 > 3% & CFO 117.0m > Net Income 145.4m
Net Debt (-246.1m) to EBITDA (69.8m): -3.53 < 3
Current Ratio: 6.08 > 1.5 & < 3
Outstanding Shares: last quarter (29.2m) vs 12m ago -4.99% < -2%
Gross Margin: 85.39% > 18% (prev 0.85%; Δ 8.45k% > 0.5%)
Asset Turnover: 105.6% > 50% (prev 99.31%; Δ 6.31% > 0%)
Interest Coverage Ratio: 407.7 > 6 (EBITDA TTM 69.8m / Interest Expense TTM 137k)
Altman Z'' 2.28
A: 0.53 (Total Current Assets 583.7m - Total Current Liabilities 96.1m) / Total Assets 918.5m
B: -0.16 (Retained Earnings -146.5m / Total Assets 918.5m)
C: 0.06 (EBIT TTM 55.9m / Avg Total Assets 863.4m)
D: -1.06 (Book Value of Equity -146.0m / Total Liabilities 137.3m)
Altman-Z'' Score: 2.28 = BBB
Beneish M -2.04
DSRI: 1.13 (Receivables 119.7m/93.1m, Revenue 912.0m/802.8m)
GMI: 0.99 (GM 85.39% / 84.68%)
AQI: 2.28 (AQ_t 0.23 / AQ_t-1 0.10)
SGI: 1.14 (Revenue 912.0m / 802.8m)
TATA: 0.03 (NI 145.4m - CFO 117.0m) / TA 918.5m)
Beneish M-Score: -2.04 (Cap -4..+1) = BB
What is the price of INSP shares? As of April 07, 2026, the stock is trading at USD 54.99 with a total of 1,001,500 shares traded.
Over the past week, the price has changed by +7.40%, over one month by -14.05%, over three months by -44.31% and over the past year by -63.83%.
Is INSP a buy, sell or hold? 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
What are the forecasts/targets for the INSP price?
Analysts Target Price 79.4 44.4%
Inspire Medical Systems (INSP) - Fundamental Data Overview as of 06 April 2026
P/E Trailing = 11.2454
P/E Forward = 30.9598
P/S = 1.7364
P/B = 2.0272
Revenue TTM = 912.0m USD
EBIT TTM = 55.9m USD
EBITDA TTM = 69.8m USD
Long Term Debt = 32.2m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 2.16m USD (from shortTermDebt, last quarter)
Debt = 62.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -246.1m USD (recalculated: Debt 62.2m - CCE 308.3m)
Enterprise Value = 1.34b USD (1.58b + Debt 62.2m - CCE 308.3m)
Interest Coverage Ratio = 407.7 (Ebit TTM 55.9m / Interest Expense TTM 137k)
EV/FCF = 17.04x (Enterprise Value 1.34b / FCF TTM 78.5m)
FCF Yield = 5.87% (FCF TTM 78.5m / Enterprise Value 1.34b)
FCF Margin = 8.61% (FCF TTM 78.5m / Revenue TTM 912.0m)
Net Margin = 15.95% (Net Income TTM 145.4m / Revenue TTM 912.0m)
Gross Margin = 85.39% ((Revenue TTM 912.0m - Cost of Revenue TTM 133.2m) / Revenue TTM)
Gross Margin QoQ = 86.59% (prev 85.85%)
Tobins Q-Ratio = 1.46 (Enterprise Value 1.34b / Total Assets 918.5m)
Interest Expense / Debt = 0.20% (Interest Expense 122k / Debt 62.2m)
Taxrate = 21.0% (US default 21%)
NOPAT = 44.1m (EBIT 55.9m * (1 - 21.00%))
Current Ratio = 6.08 (Total Current Assets 583.7m / Total Current Liabilities 96.1m)
Debt / Equity = 0.08 (Debt 62.2m / totalStockholderEquity, last quarter 781.2m)
Debt / EBITDA = -3.53 (Net Debt -246.1m / EBITDA 69.8m)
Debt / FCF = -3.14 (Net Debt -246.1m / FCF TTM 78.5m)
Total Stockholder Equity = 690.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 16.84% (Net Income 145.4m / Total Assets 918.5m)
RoE = 21.07% (Net Income TTM 145.4m / Total Stockholder Equity 690.3m)
RoCE = 7.73% (EBIT 55.9m / Capital Employed (Equity 690.3m + L.T.Debt 32.2m))
RoIC = 6.39% (NOPAT 44.1m / Invested Capital 690.3m)
WACC = 5.37% (E(1.58b)/V(1.65b) * Re(5.57%) + D(62.2m)/V(1.65b) * Rd(0.20%) * (1-Tc(0.21)))
Discount Rate = 5.57% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: -33.33 | Cagr: -1.70%
[DCF] Terminal Value 80.82% ; FCFF base≈83.5m ; Y1≈54.8m ; Y5≈25.1m
[DCF] Fair Price = 36.19 (EV 796.1m - Net Debt -246.1m = Equity 1.04b / Shares 28.8m; r=6.0% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 68.65 | EPS CAGR: 58.99% | SUE: -0.36 | # QB: 0
Revenue Correlation: 92.38 | Revenue CAGR: 43.54% | SUE: 1.42 | # QB: 2
EPS next Quarter (2026-06-30): EPS=0.27 | Chg7d=-0.008 | Chg30d=-0.115 | Revisions Net=-5 | Analysts=12
EPS current Year (2026-12-31): EPS=2.02 | Chg7d=-0.023 | Chg30d=+0.314 | Revisions Net=+10 | Growth EPS=-16.5% | Growth Revenue=+5.9%
EPS next Year (2027-12-31): EPS=2.69 | Chg7d=+0.000 | Chg30d=+0.231 | Revisions Net=+7 | Growth EPS=+33.1% | Growth Revenue=+8.1%
[Analyst] Revisions Ratio: -0.71 (1 Up / 6 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = -1.0% (Discount Rate 7.9% - Earnings Yield 8.9%)
[Growth] Growth Spread = +6.4% (Analyst 5.5% - Implied -1.0%)
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