Inspire Medical Systems (INSP) Stock Fundamentals, Analysis & Risk Signals

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

Inspire Medical Systems

NYSE•Healthcare•Medical Devices

$63.08+0.94(0.02%)Market closed

Market Cap

$2.21B

P/E

16.4x

P/S

2.5x

P/B

2.7x

Inspire Medical Systems, Inc., a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for patients with moderate to severe OSA. It also develops a novel, closed-loop solution that continuously monitors a patient's breathing and delivers mild hypoglossal nerve stimulation to maintain an open airway. The company was incorporated in 2007 and is headquartered in Golden Valley, Minnesota.

How this company scores

GoodMetricSide Score: 78/100

Strongest: Cash & Earnings Quality (23/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability21/25

Growth19/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality23/25

Strengths

Rising free cash flowHigh ROERising earningsInterest easily covered

Valuation vs. 5-year range

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

P/E · 16.4x5y range 11.0x – 661.9x

Currently below its 9-quarter median.

P/S · 2.5x5y range 1.6x – 30.4x

Currently below its 20-quarter median.

P/B · 2.7x5y range 1.8x – 31.5x

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

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $2.21B

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $898.74M
Q. Revenue: $200.58M
TTM EBITDA: $78.42M
TTM Op. Income: $54.12M
Q. Op. Income: $-514,000
TTM Net Income: $135.04M
Q. Net Income: $314,000
EPS: $0.01
Shares Out.: $28.84M

$898.74M in TTM revenue grew 4.3% YoY, reaching $200.58M last quarter. TTM EBITDA of $78.42M and TTM operating income of $54.12M show growth is flowing through to the bottom line. TTM net income of $135.04M means revenue is converting into profit. Over the past year, TTM revenue is up 4% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 85.5%
EBITDA Margin: 2.0%
Op. Margin: -0.3%
Net Margin: 0.2%

Op. margin of -0.3% is up 1.3% YoY — cost efficiency is improving. Net margin at 0.2% and gross margin of 85.5% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 83% — an improving trend.

Price Ratios

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

P/E Ratio: 16.4x
P/S Ratio: 2.5x
P/B Ratio: 2.7x

At 16.4x P/E, the stock trades within typical market levels. P/S of 2.5x and P/B of 2.7x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 77% — a weakening trend.

Assets & Liabilities

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

Total Assets: $925.99M
Cash: $127.76M
Long-Term Debt: N/A
Book Value: $825.58M
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

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

Op. Cash Flow: $23.23M
TTM Free Cash Flow: $117.09M
FCF Margin: 13.0%
FCF / Net Income: 0.9

TTM FCF of $117.09M on $23.23M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.