Inspire Medical Systems, Inc.

NYSE:INSP Stock Report

Market Cap: US$5.6b

Inspire Medical Systems Valuation

Is INSP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of INSP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: INSP ($187.77) is trading below our estimate of fair value ($227.49)

Significantly Below Fair Value: INSP is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for INSP?

Key metric: As INSP is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for INSP. This is calculated by dividing INSP's market cap by their current revenue.
What is INSP's PS Ratio?
PS Ratio7.4x
SalesUS$755.59m
Market CapUS$5.63b

Price to Sales Ratio vs Peers

How does INSP's PS Ratio compare to its peers?

The above table shows the PS ratio for INSP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8.7x
PRCT PROCEPT BioRobotics
22x24.7%US$4.4b
GMED Globus Medical
4.5x6.3%US$11.3b
ITGR Integer Holdings
2.6x6.2%US$4.5b
NARI Inari Medical
5.7x15.0%US$3.2b
INSP Inspire Medical Systems
7.4x16.1%US$5.6b

Price-To-Sales vs Peers: INSP is good value based on its Price-To-Sales Ratio (7.4x) compared to the peer average (8.7x).

Price to Sales Ratio vs Industry

How does INSP's PS Ratio compare vs other companies in the US Medical Equipment Industry?

49 CompaniesPrice / SalesEstimated GrowthMarket Cap
INGN Inogen
0.6x4.4%US$201.98m
ARAY Accuray
0.4x5.5%US$186.05m
NVRO Nevro
0.3x2.8%US$142.02m
RMTI Rockwell Medical
0.7x-7.3%US$67.22m
INSP 7.4xIndustry Avg. 3.2xNo. of Companies49PS02.85.68.411.214+
49 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: INSP is expensive based on its Price-To-Sales Ratio (7.4x) compared to the US Medical Equipment industry average (3.2x).

Price to Sales Ratio vs Fair Ratio

What is INSP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

INSP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio7.4x
Fair PS Ratio8.1x

Price-To-Sales vs Fair Ratio: INSP is good value based on its Price-To-Sales Ratio (7.4x) compared to the estimated Fair Price-To-Sales Ratio (8.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst INSP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$187.77
US$239.60
+27.6%
10.4%US$270.00US$193.00n/a15
Dec ’25US$192.76
US$239.60
+24.3%
10.4%US$270.00US$193.00n/a15
Nov ’25US$190.71
US$231.67
+21.5%
12.6%US$270.00US$170.00n/a15
Oct ’25US$209.36
US$227.00
+8.4%
13.7%US$270.00US$170.00n/a15
Sep ’25US$179.82
US$223.47
+24.3%
15.0%US$270.00US$167.00n/a15
Aug ’25US$145.11
US$224.53
+54.7%
17.0%US$278.00US$156.00n/a15
Jul ’25US$138.71
US$243.73
+75.7%
14.8%US$280.00US$170.00n/a15
Jun ’25US$158.79
US$250.73
+57.9%
11.7%US$285.00US$187.00n/a15
May ’25US$244.00
US$253.78
+4.0%
10.9%US$285.00US$187.00n/a16
Apr ’25US$209.63
US$250.93
+19.7%
11.2%US$280.00US$187.00n/a14
Mar ’25US$183.52
US$251.00
+36.8%
11.6%US$280.00US$187.00n/a13
Feb ’25US$216.22
US$230.00
+6.4%
11.3%US$265.00US$181.00n/a12
Jan ’25US$203.43
US$220.91
+8.6%
13.3%US$265.00US$180.00n/a11
Dec ’24US$151.72
US$212.45
+40.0%
14.0%US$250.00US$150.00US$192.7611
Nov ’24US$156.33
US$276.55
+76.9%
25.9%US$360.00US$159.00US$190.7111
Oct ’24US$198.44
US$349.80
+76.3%
4.8%US$380.00US$322.00US$209.3610
Sep ’24US$238.86
US$356.55
+49.3%
5.8%US$405.00US$330.00US$179.8211
Aug ’24US$290.93
US$349.64
+20.2%
8.8%US$395.00US$300.00US$145.1111
Jul ’24US$324.64
US$326.00
+0.4%
9.2%US$395.00US$300.00US$138.7110
Jun ’24US$302.23
US$313.00
+3.6%
5.5%US$360.00US$300.00US$158.7910
May ’24US$262.09
US$304.80
+16.3%
3.4%US$330.00US$290.00US$244.0010
Apr ’24US$234.07
US$304.22
+30.0%
3.8%US$330.00US$290.00US$209.639
Mar ’24US$263.81
US$304.75
+15.5%
4.0%US$330.00US$290.00US$183.528
Feb ’24US$257.62
US$291.13
+13.0%
6.9%US$315.00US$250.00US$216.228
Jan ’24US$251.88
US$283.78
+12.7%
7.5%US$308.00US$250.00US$203.439
Dec ’23US$239.68
US$268.75
+12.1%
7.8%US$305.00US$245.00US$151.728

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 01:47
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Inspire Medical Systems, Inc. is covered by 24 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael PolarkBaird
David RescottBaird
Ravi MisraBerenberg