Glaukos
GKOS · Health Care Equipment
$178.88
1.2%Inspire Medical Systems
INSP · Health Care Equipment
$71.11
2.1%The short version
- Inspire Medical Systems is the larger business, with $912M of revenue in fiscal 2025 against $507M for Glaukos, about 1.8 times as much.
- Glaukos grew revenue faster (32.3%, against 13.6%).
- Inspire Medical Systems kept more of each dollar of sales as operating profit (5.6% operating margin, against −39.3% operating margin).
- Inspire Medical Systems turned more of its sales into free cash flow (8.6% FCF margin, against −4.4% FCF margin).
| Latest fiscal year | GKOS · FY25 | INSP · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.5B | $2.1B |
| Revenue | $507M | $912M |
| Free cash flow | −$22.5M | $78.5M |
| Net income | −$188M | $145M |
| Growth | ||
| Revenue growth | 32.3% | 13.6% |
| 5-year growth | 17.7% | 51.2% |
| Share count change | 8.4% | −2.6% |
| Profitability | ||
| Gross margin | 55.7% | 85.4% |
| Operating margin | −39.3% | 5.6% |
| Net margin | −37.0% | 16.0% |
| FCF margin | −4.4% | 8.6% |
| Return on capital | — | 14.2% |
| Return on equity | −26.4% | 19.8% |
| Balance sheet | ||
| Net debt | — | −$308M |
| Net debt / EBITDA | — | −4.8x |
| Dividends and buybacks | $0.0M | $175M |
| Valuation & quality | ||
| P/E | — | 15.7x |
| Piotroski F-score | — | 5 |
FY16
GKOS $114M
INSP $16.4M
FY17
GKOS $159M
INSP $28.6M
FY18
GKOS $181M
INSP $50.6M
FY19
GKOS $237M
INSP $82.0M
FY20
GKOS $225M
INSP $115M
FY21
GKOS $294M
INSP $233M
FY22
GKOS $283M
INSP $408M
FY23
GKOS $315M
INSP $625M
FY24
GKOS $384M
INSP $803M
FY25
GKOS $507M
INSP $912M
GKOS
INSP
FY16
GKOS 3.7%
INSP −105.0%
FY17
GKOS −1.4%
INSP −56.0%
FY18
GKOS −7.2%
INSP −40.3%
FY19
GKOS −21.2%
INSP −42.5%
FY20
GKOS −54.9%
INSP −48.7%
FY21
GKOS −11.2%
INSP −17.1%
FY22
GKOS −29.1%
INSP −11.7%
FY23
GKOS −40.9%
INSP −6.5%
FY24
GKOS −31.9%
INSP 4.5%
FY25
GKOS −39.3%
INSP 5.6%
GKOS
INSP
FY16
GKOS $6.0M
INSP −$18.3M
FY17
GKOS $19.8M
INSP −$16.2M
FY18
GKOS $8.6M
INSP −$18.9M
FY19
GKOS −$5.1M
INSP −$35.6M
FY20
GKOS −$29.9M
INSP −$55.5M
FY21
GKOS −$23.1M
INSP −$24.8M
FY22
GKOS −$63.4M
INSP $2.5M
FY23
GKOS −$78.0M
INSP $1.0M
FY24
GKOS −$67.6M
INSP $91.1M
FY25
GKOS −$22.5M
INSP $78.5M
GKOS
INSP
FY16
GKOS —
INSP —
FY17
GKOS —
INSP —
FY18
GKOS —
INSP —
FY19
GKOS —
INSP —
FY20
GKOS —
INSP —
FY21
GKOS −5.1%
INSP −106.8%
FY22
GKOS −10.2%
INSP —
FY23
GKOS −13.7%
INSP −40.6%
FY24
GKOS —
INSP 18.5%
FY25
GKOS —
INSP 14.2%
GKOS
INSP
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.