Saturday 17 October 2026 Export INSP’s income statement to Excel — free account

Inspire Medical Systems, Inc.

Inspire Medical Systems, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $912.0 million, up 13.6% from fiscal 2024. In the quarter to June 2026, revenue fell 7.60%, EPS grew 108.3% and free cash flow grew 322.8%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

68.98 1.14 −1.63%

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Market cap: $2.0B
P/E: 14.8×
Fwd P/E: 93.5×
Dividend yield: —
F-score: 6/9
Altman Z: 14.49
Beneish M: −1.88
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.67

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	1	1	—	—	—	3	—	—	1	—	—

Insider Ownership 5.46%

Capital & Financial Ratios $m

Market Cap 2,030.00

Revenue 898.74

Net Income 135.04

Free Cash Flow 117.09

Net Debt (320.68)

Current Ratio 8.55

Debt/Equity 0.00

P/E ratio 14.80

Fwd P/E 93.50

P/S ratio 2.21

P/B ratio 2.41

Past 5Y EPS Growth —

This Y EPS Growth (48.80%)

Next Y EPS Growth 18.91%

Next Y revenue growth (6.37%)

Next 5Y EPS Growth (7.61%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 9.41%

10-year low 10-year high

P/B against its own 10 years 7.10%

10-year low 10-year high

EV/Sales against its own 10 years 9.31%

10-year low 10-year high

EV/FCF against its own 10 years 13.63%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	460	446	308	321
Receivables	90	93	120	103
Inventory	34	80	145	170
Other	—	—	—	—
	594	631	584	609

	2023	2024	2025	Q'26
Payables	39	39	37	27
ST’ Debt	—	—	—	—
Other	—	—	—	—
	78	89	96	71

Compound Annual Growth %

	10y	5y	3y
Sales	—	51.21%	30.77%
Cash Flow	—	0.00%	116.24%
Earnings	—	0.00%	0.00%
Book Value	—	27.73%	16.35%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	205	201	—	—	—
’25	201	217	225	269	912
’24	164	196	203	240	803
’23	128	151	153	193	625
’22	69	91	109	138	408
’21	40	53	62	78	233
’20	21	12	36	46	115

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	13	23	—	—	—
’25	(7)	3	69	52	117
’24	9	0	52	69	130
’23	(1)	5	4	17	25
’22	(13)	(6)	11	19	12
’21	(10)	(10)	0	1	(20)
’20	(15)	(25)	(9)	(4)	(53)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	3	14	—	—	—
’25	(15)	(6)	58	42	78
’24	(3)	(12)	44	62	91
’23	(5)	0	(3)	9	1
’22	(14)	(7)	7	16	2
’21	(12)	(12)	(1)	0	(25)
’20	(15)	(26)	(10)	(5)	(55)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.39)	0.01	—	—	—
’25	0.10	(0.12)	0.34	4.66	4.89
’24	(0.34)	0.32	0.60	1.15	1.75
’23	(0.53)	(0.41)	(0.29)	0.49	(0.72)
’22	(0.61)	(0.53)	(0.60)	0.10	(1.60)
’21	(0.60)	(0.48)	(0.38)	(0.09)	(1.54)
’20	(0.67)	(0.88)	(0.39)	(0.28)	(2.19)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	22.50	38.68	40.53	159.18	142.74	123.27	123.00	70.77	Analyst estimates 2026–2028 Powerpack
	High	—	—	57.87	75.91	204.72	286.29	272.04	330.00	257.40	216.01
People
People	Employees	—	—	165	239	317	485	755	1,011	1,246	1,333
	Revenue/emp, $m	0.00	0.00	0.31	0.34	0.36	0.48	0.54	0.62	0.64	0.68
Income, $m
Income, $m	Revenue	16	29	51	82	115	233	408	625	803	912
	Gross margin, %	76.23	78.93	80.12	83.37	84.73	85.74	83.79	84.54	84.68	85.39
	EBT	(19)	(18)	(22)	(33)	(57)	(42)	(44)	(20)	58	66
	EBT margin, %	(112.79)	(61.30)	(43.14)	(40.47)	(49.48)	(17.98)	(10.85)	(3.19)	7.28	7.20
	Net income	(19)	(18)	(22)	(33)	(57)	(42)	(45)	(21)	54	145
	Depreciation	0	1	0	0	1	1	2	0	(2)	11
Per share, $
Per share, $	Revenue	14.99	24.27	3.47	3.45	4.43	8.56	14.53	21.32	26.97	31.05
	Earnings	(16.91)	(14.88)	(1.50)	(1.40)	(2.19)	(1.54)	(1.60)	(0.72)	1.80	4.95
	Cash flow	(16.38)	(13.42)	(1.28)	(1.38)	(2.03)	(0.74)	0.41	0.84	4.38	3.98
	Capex	(0.28)	(0.35)	(0.02)	(0.12)	(0.09)	(0.17)	(0.32)	(0.81)	(1.31)	(1.31)
	Free cash flow	(16.66)	(13.77)	(1.30)	(1.49)	(2.13)	(0.91)	0.09	0.03	3.06	2.67
	Book value	0.00	1.13	11.25	5.87	8.81	8.40	17.67	19.54	23.17	26.60
	Shares, m	1	1	15	24	26	27	28	29	30	29
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	103.56	18.37
	P/S	0.97	0.97	12.18	21.53	42.50	26.87	17.41	8.81	6.87	2.97
	P/B	0.00	0.00	3.76	12.63	21.35	27.38	14.32	9.61	8.00	3.47
	EV/Sales	1.14	1.14	8.95	20.01	40.69	26.02	16.33	8.09	6.33	2.64
	EV/FCF	(2.24)	(2.24)	(23.90)	(46.13)	(84.59)	(245.03)	2,693.19	4,935.10	55.77	30.71
Cash, $m
Cash, $m	Operating cash flow	(18)	(16)	(19)	(33)	(53)	(20)	12	25	130	117
	Capex	0	0	0	(3)	(2)	(5)	(9)	(24)	(39)	(38)
	Free cash flow	(18)	(16)	(19)	(36)	(55)	(25)	2	1	91	78
Balance, $m
Balance, $m	Working capital	5	17	188	154	249	227	469	516	542	488
	Total debt	12	16	25	25	25	16	8	—	—	—
	Net debt	6	0	(163)	(125)	(210)	(199)	(451)	(460)	(446)	(308)
	Shareholders’ equity	—	1	164	140	230	229	496	573	690	781
Returns, %
Returns, %	ROA	(147.69)	(139.58)	(19.39)	(17.44)	(24.74)	(14.59)	(10.44)	(3.41)	7.21	16.95
	ROIC	(189.31)	(608.39)	(1,781.29)	(146.46)	(174.51)	(81.98)	(66.70)	(22.44)	9.24	6.73
	ROE	16.96	16.03	(94.45)	(21.88)	(30.96)	(18.33)	(12.38)	(3.96)	8.48	19.77

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NEOG Neogen Corporation	$2.7B	— (loss-making)	— (loss-making)	+6.51% (above 0%: growing)	n/m	+135.75% (above 0%: growing)	47.35%	(0.81%)	Compare
TMDX TransMedics Group, Inc.	$2.7B	16.0×	34.1×	+20.70% (above 0%: growing)	−59.22% (below 0%: shrinking)	−87.62% (below 0%: shrinking)	59.59%	12.50%	Compare
UFPT UFP Technologies, Inc.	$2.3B	31.2×	23.6×	+15.07% (above 0%: growing)	+20.63% (above 0%: growing)	−35.77% (below 0%: shrinking)	29.27%	16.15%	Compare
BFLY Butterfly Network, Inc.	$2.1B	— (loss-making)	— (loss-making)	+39.47% (above 0%: growing)	n/m	−113.85% (below 0%: shrinking)	71.41%	(41.90%)	Compare
AXGN AxoGen, Inc.	$2.1B	— (loss-making)	— (loss-making)	+23.06% (above 0%: growing)	n/m	−17.36% (below 0%: shrinking)	72.67%	(3.09%)	Compare
INSP Inspire Medical Systems, Inc.	$2.0B	14.8×	93.5×	−7.60% (below 0%: shrinking)	n/m	+322.84% (above 0%: growing)	85.48%	(0.26%)
ESTA Establishment Labs Holdings Inc.	$1.8B	— (loss-making)	— (loss-making)	+31.66% (above 0%: growing)	n/m	+2.75% (above 0%: growing)	70.64%	(6.35%)	Compare
ATEC Alphatec Holdings, Inc.	$1.7B	— (loss-making)	— (loss-making)	+15.07% (above 0%: growing)	n/m	−146.87% (below 0%: shrinking)	72.17%	(0.89%)	Compare
NVCR NovoCure Limited	$1.7B	— (loss-making)	— (loss-making)	+15.60% (above 0%: growing)	n/m	+105.68% (above 0%: growing)	77.61%	(5.75%)	Compare
Median of peers	$2.1B	—	—	+18.15%	—	−26.56%	71.03%	(1.99%)

All 149 Medical Devices stocks →

Inspire Medical Systems, Inc. (INSP) key facts

Strength: Inspire Medical Systems, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $912.0 million, up 13.6% from fiscal 2024.
Strength: Net income was $145.4 million, or $4.95 per share (basic), a net margin of 16.0%.
Inspire Medical Systems, Inc. (INSP) is a Medical Devices company in the Healthcare sector, listed on the New York Stock Exchange.
As of October 16, 2026, INSP traded at $68.98, a market capitalization of $2.0 billion.
At that price the stock trades at 14.8× trailing-twelve-month earnings and 2.2× sales.
Return on equity was 19.8% and debt-to-equity 0.00.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 14.49 (safe zone) for fiscal 2025.