Inspire Medical Systems, Inc.

NYSE:INSP Stock Report

Market Cap: US$5.5b

Inspire Medical Systems Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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.

Discounted Cash Flow
Simply Wall St
US$226.59
Fair Value
18.1% undervalued intrinsic discount
15
Number of Analysts

Below Fair Value: INSP ($185.61) is trading below our estimate of fair value ($226.59)

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 profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for INSP. This is calculated by dividing INSP's market cap by their current earnings.
What is INSP's PE Ratio?
PE Ratio102.9x
EarningsUS$53.51m
Market CapUS$5.51b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for INSP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average80.4x
ITGR Integer Holdings
40.6x21.5%US$4.7b
GMED Globus Medical
124.9x49.1%US$11.4b
MASI Masimo
123.5x41.5%US$9.7b
TFX Teleflex
32.7x19.4%US$7.8b
INSP Inspire Medical Systems
102.9x26.0%US$5.5b

Price-To-Earnings vs Peers: INSP is expensive based on its Price-To-Earnings Ratio (102.9x) compared to the peer average (80.4x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MHUA Meihua International Medical Technologies
1.1xn/aUS$10.63m
PAVM PAVmed
0.6x-90.0%US$8.74m
UTRS Minerva Surgical
n/an/aUS$8.00
No more companies available in this PE range
INSP 102.9xIndustry Avg. 34.0xNo. of Companies7PE020406080100+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: INSP is expensive based on its Price-To-Earnings Ratio (102.9x) compared to the US Medical Equipment industry average (34x).

Price to Earnings Ratio vs Fair Ratio

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

INSP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio102.9x
Fair PE Ratio43.1x

Price-To-Earnings vs Fair Ratio: INSP is expensive based on its Price-To-Earnings Ratio (102.9x) compared to the estimated Fair Price-To-Earnings Ratio (43.1x).

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$185.61
US$232.93
+25.5%
10.4%US$270.00US$190.00n/a15
Feb ’26US$193.50
US$238.80
+23.4%
10.9%US$270.00US$190.00n/a15
Jan ’26US$185.38
US$239.60
+29.2%
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$181.00US$193.5012
Jan ’25US$203.43
US$220.91
+8.6%
13.3%US$265.00US$180.00US$185.3811
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
Analyst Price Target
Consensus Narrative from 15 Analysts
US$232.93
Fair Value
20.3% undervalued intrinsic discount
15
Number of Analysts

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 Analysis2025/02/16 12:18
End of Day Share Price 2025/02/14 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Inspire Medical Systems, Inc. is covered by 23 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