Inspire Medical Systems Inc (INSP) Fair Value & Analysis

Healthcare · US · Market cap $1.7B · ISIN US4577301090

What is Inspire Medical Systems Inc really worth?

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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What matters now

• The model range is unusually wide ($40.23 to $106.89). The outcome hinges heavily on assumptions, so read the point estimate with caution.
• Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.

How to read this chart

60‑month range $40.05 – $326.08 · fair‑value band $40.23 – $106.89 · the $62.14 price screens below the $85.51 fair value. Dashed = 300-day average. As of Aug 18, 2026.

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Analysis

Inspire Medical Systems Inc (INSP) currently trades at $62.14, while our model-based Fair Value estimate is $85.51, implying the stock looks roughly 27.3% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of $233.70 per share, and 12 of the 24 models we run sit above the $62.14 price. Bear case: the Economic Profit group reads lowest at $17.50, and 12 of the 24 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Inspire Medical Systems Inc generated revenue of $915M at a net margin of 14.3%. Revenue grew 1.6% year over year. It earns a return on equity of 18.4%. The balance sheet holds a net cash position of $72.7M. Fundamentals as of Aug 18, 2026

Our scenario range runs from $40.23 (bear case) to $106.89 (bull case); at $62.14, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 58% below its 52-week high and 60% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −34% fair-value upside, at 38%, INSP screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $2.99 per share, which is 3.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Widest divergence: Growth Earnings ($233.70) versus Economic Profit ($17.50). Highest evidence: FCF DCF (75).

Key figures & financial health

Quality Score breakdown

About the company

Inspire Medical Systems, Inc., a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally.

Full company description

Inspire Medical Systems, Inc., a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for patients with moderate to severe OSA. It also develops a novel, closed-loop solution that continuously monitors a patient's breathing and delivers mild hypoglossal nerve stimulation to maintain an open airway. The company was incorporated in 2007 and is headquartered in Golden Valley, Minnesota.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Inspire Medical Systems Inc reported revenue of $912M in FY2025 versus $233M in FY2021, a compound +40.6%/yr. Reported net income was $145M in FY2025.

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Peer Group

Medical Devices · 351 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Medical Devices median · lower = cheaper

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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