CONMED Corporation (CNMD) vs Inspire Medical Systems, Inc. (INSP)

CONMED Corporation and Inspire Medical Systems, Inc. are both Medical Devices companies. Inspire Medical Systems, Inc. is the larger, with a market value of $2.0B against $1.4B — 1.5× the size. Inspire Medical Systems, Inc. trades at the lower P/E: 15.1× against 24.5×. Inspire Medical Systems, Inc. grew revenue faster over the last twelve months: 4.35% against 3.42%. Inspire Medical Systems, Inc. has the higher net margin (15.0% vs 4.12%) and the higher return on invested capital (6.70% vs 3.75%). Across the 22 metrics below, Inspire Medical Systems, Inc. leads on 14 and CONMED Corporation on 8.

Valuation

Metric CNMD INSP Medical Devices median
P/E 24.53 15.13 22.18
P/S 0.99 2.26 2.70
P/B 1.31 2.46 2.46
Price to free cash flow 10.15 17.36 22.53
EV/EBITDA 11.33 24.81 11.78
EV/Sales 1.58 1.93 2.38
Earnings yield 4.08% 6.61% (8.22%)
Free cash flow yield 9.85% 5.76% (7.80%)

Profitability

Metric CNMD INSP Medical Devices median
Gross margin 55.79% 86.13% 56.01%
Operating margin 8.04% 6.02% (15.03%)
Net margin 4.12% 15.03% (20.40%)
Free cash flow margin 9.80% 13.03% (7.24%)
Return on equity 5.53% 17.96% (15.32%)
Return on assets 2.44% 15.63% (19.72%)
Return on invested capital 3.75% 6.70% (10.33%)

Growth

Metric CNMD INSP Medical Devices median
Revenue growth (TTM) 3.42% 4.35% 8.80%
EPS growth (last fiscal year) (64.47%) 179.43% —
Revenue growth, 5-year CAGR 9.77% 51.21% 15.23%
Net income growth, 5-year CAGR 37.66% 0.00% 0.00%

Health

Metric CNMD INSP Medical Devices median
Debt to equity 0.80 0.00 0.07
Current ratio 1.48 8.55 2.50
Net debt to EBITDA 4.35 (4.97) 0.49

Dividend

Metric CNMD INSP Medical Devices median
Dividend yield 0.95% — 0.94%
Payout ratio 0.27 0.00 0.00

Size

Metric CNMD INSP Medical Devices median
Market cap 1.35b 1.96b 172.91m

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