Inspire Medical Systems
INSP NYSE· Health Care Equipment
Last close · Oct 23, 2026
$71.11
KIRA · Stoqly’s AI analyst, in plain words
- Inspire Medical Systems had $912M of revenue in fiscal 2025, up 13.6% on the year before. Over five years, revenue changed +51.2% a year on average.
- Its operating margin was 5.6%, up 1.1 pts: of every 100 in sales, about 6 is left after running the business.
- Inspire Medical Systems made $145M of net profit in fiscal 2025.
- Free cash flow was $78.5M in fiscal 2025, 8.6% of revenue.
- Inspire Medical Systems returned $175M to shareholders in fiscal 2025, 223% of free cash flow. The diluted share count fell 2.6%.
- Inspire Medical Systems has $308M more cash than debt.
Market cap
$2.1B
P/E
15.7x
Revenue
$912M
Net income
$145M
Free cash flow
$78.5M
Operating margin
5.6%
Inspire Medical Systems in 30 seconds · fiscal 2025
Are sales growing?
+13.6%
Yes. Sales grew 13.6% last year.
Does it make a profit?
16.0%
Yes. It keeps 16.0% of every sale as profit.
Does profit turn into cash?
8.6%
Partly. 8.6% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
15.7x
One share costs 15.7 times its yearly profit per share. Typical for its sector: 28.4x.
What Inspire Medical Systems does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 13, 2026
- Legal name
- Inspire Medical Systems, Inc.
- CIK
- 0001609550
Inspire Medical Systems · INSP
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $233M | $408M | $625M | $803M | $912M |
| Revenue growth | 102.3% | 74.8% | 53.2% | 28.5% | 13.6% |
| Gross margin | 85.7% | 83.8% | 84.5% | 84.7% | 85.4% |
| Operating margin | −17.1% | −11.7% | −6.5% | 4.5% | 5.6% |
| Net income | −$42.0M | −$44.9M | −$21.2M | $53.5M | $145M |
| Net margin | −18.0% | −11.0% | −3.4% | 6.7% | 16.0% |
| Diluted EPS | −$1.54 | −$1.60 | −$0.72 | $1.75 | $4.89 |
| Cash | |||||
| Cash from operations | −$20.1M | $11.6M | $24.7M | $130M | $117M |
| Capital expenditure | $4.7M | $9.1M | $23.6M | $39.1M | $38.5M |
| Free cash flow | −$24.8M | $2.5M | $1.0M | $91.1M | $78.5M |
| FCF margin | −10.6% | 0.6% | 0.2% | 11.4% | 8.6% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $175M |
| Share count change | 4.6% | 3.0% | 4.4% | 4.2% | −2.6% |
| Debt and strength | |||||
| Cash and short-term investments | $215M | $451M | $460M | $446M | $308M |
| Debt incl. finance leases | $24.5M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $229M | $496M | $573M | $690M | $781M |
| Net debt / EBITDA | — | — | — | −10.5x | −4.8x |
| Current ratio | 6.5x | 8.7x | 7.6x | 7.1x | 6.1x |
| Interest coverage | −18.7x | −28.4x | — | 1,640.1x | 371.9x |
| Returns and quality | |||||
| Return on capital | −106.8% | — | −40.6% | 18.5% | 14.2% |
| Return on equity | −18.3% | −12.4% | −4.0% | 8.5% | 19.8% |
| Piotroski F-score | 5 | 5 | 4 | 6 | 5 |
| Altman Z'' | 4.7 | 10.6 | 8.7 | 9.6 | 9.9 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.7M
3 insiders
Of sales under plans
70%
$0.5M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Inspire Medical Systems · INSP
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Inspire Medical Systems INSP | $2.1B | 13.6% | 5.6% | 8.6% | 14.2% | 15.7x | 5 |
| CONMED CNMD | $1.5B | 5.2% | 7.5% | 11.0% | 3.7% | — | 6 |
| LivaNova LIVN | $4.6B | 10.7% | 14.4% | 12.5% | 12.8% | 23.9x | 5 |
| Penumbra PEN | $12.8B | 17.5% | 13.5% | 12.5% | 18.8% | 79.7x | 7 |
| Integra Lifesciences IART | $936M | 1.5% | −30.2% | −1.9% | −22.0% | 70.1x | 5 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $71.11 a share, the company is worth $2.1B: 15.7 times its earnings of the last four quarters.
Inspire Medical Systems grew sales faster than 3 of its 4 similar companies. Its P/E is higher than 0 of 3.
Source: SEC EDGAR XBRL filings (CIK 0001609550). Data updated October 22, 2026. For information only — not investment advice. Check the original filings before relying on any figure.