Inspire Medical Systems, Inc. (INSP) is a publicly traded company in the Healthcare — Medical - Devices industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Inspire Medical Systems, Inc. operates as a medical technology enterprise, concentrating on the development and commercialization of advanced, minimally intrusive therapies for patients diagnosed with obstructive sleep apnea (OSA) across both domestic U.S. and international markets.
Is Inspire Medical Systems, Inc. stock overvalued or undervalued in 2026?
Inspire Medical Systems, Inc. (INSP) trades at 14.7× earnings (P/E), against a median of 30.4× across the 246 healthcare companies above $2bn in Kaplio's universe. Earnings per share over the last twelve months ($4.62) include about $0.52 of gains from outside the business; without them, they would be around $4.10, and the consensus expects $1.47 for 2027. That is why this range uses expected earnings. No valuation verdict: its last-twelve-month earnings are inflated by a one-off, so its P/E looks lower than it is.
Kaplio overview: Inspire Medical Systems, Inc.
Market cap $2B · 52 weeks $40 – $144 (51 % below the high) · P/E 14.7× · 2027 expected P/E 46.2× · Dividend none · Next earnings November 2, 2026 · expected EPS $0.09 · Closing price, Oct 30 · accounts published Aug 3.
- Valuation: P/E 14.7× (no verdict).
- Business: ROIC 6 % (weak).
- Balance sheet: Net cash/EBITDA 0.9× (solid).
- Earnings: 8 of 8 (uneven).
What would it be worth at its usual multiples?
No valuation verdict: its last-twelve-month earnings are inflated by a one-off, so its P/E looks lower than it is.
Earnings per share over the last twelve months ($4.62) include about $0.52 of gains from outside the business; without them, they would be around $4.10, and the consensus expects $1.47 for 2027. That is why this range uses expected earnings.
Why is Inspire Medical Systems, Inc.'s P/E so low?
Inspire Medical Systems, Inc. trades at a P/E of 14.7× on reported earnings, but over the last 12 months 22 % of its pre-tax income ($15.3M) came from outside the business, such as revaluations or sales of stakes in other companies. It is real money, but it doesn't repeat every year. Without that part, its P/E would be about 16.6×. On analysts' expected earnings for 2027, its P/E is 46.3×. Kaplio's calculation from the official quarterly accounts filed up to the quarter ended June 30, 2026.
| Quarter ended | From the business | Outside the business | Net income |
|---|---|---|---|
| September 30, 2025 | $9.6M | $3.9M | $9.9M |
| December 31, 2025 | $46.1M | $4.2M | $136M |
| March 31, 2026 | $3.5M | ||
| June 30, 2026 | $3.6M | $314,000 |
What matters in pharma: 2 of 5 pass
- R&D / Revenue 11.3 %, fails.
- FCF / Net Income 54.0 %, fails.
- ROIC 6.3 %, fails.
- Gross margin 85.4 %, passes.
- Net debt / EBITDA −0.9×, passes.
Against its peers (reference peers) — Inspire Medical Systems, Inc.: P/E 14.7×; EV/EBITDA 27.5×; ROIC 6.3 %; $2.0B. Integer Holdings Corporation (P/E 42.5×; EV/EBITDA 19.7×; ROIC 4.5 %; $4.3B), Addus HomeCare Corporation (P/E 22.0×; EV/EBITDA 13.9×; ROIC 8.5 %; $2.3B), Brookdale Senior Living Inc. (P/E —; EV/EBITDA 8.7×; ROIC 2.0 %; $2.5B).
Profitability
| Return on Equity | 17.62% |
| Return on Invested Capital | 6.33% |
| Return on Assets | 14.58% |
| Gross Margin | 86.13% |
| Operating Margin | 6.02% |
| Net Margin | 15.03% |
Financial Health
| Debt / Equity | 0.04 |
| Current Ratio | 8.55 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 14.49 |
Price Performance
| 1 month | +1.73% |
| 3 months | +36.31% |
| Year-to-date | -22.82% |
| 1 year | -1.25% |
| 3 years | -55.60% |
| 5 years | -73.90% |
Dividend History
| Date | Amount |
|---|---|
| 2008-01-09 | $9.0000 |
Amounts adjusted for stock splits.
Related companies: ADUS · BKD · ITGR · RCUS
Explore sector: Healthcare · Medical - Devices
More sections of INSP: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Weekly Radar: the S&P 500 through the Buffett and Lynch methods · Companies that pass the Buffett method today · Companies that pass the Lynch method today · Stocks that pass Graham's defensive investor test today · Investment Academy — learn to analyze stocks