Is Inspire Medical Systems Stock Outperforming Its Rivals?
Inspire Medical Systems (INSP) stock has significantly underperformed over the past year. How does it measure up against peers scaling in the medical device sector? A closer look reveals solid revenue growth but moderate operating margins and free cash flow compared to leading peers. Its high valuation suggests limited near-term upside despite its innovative sleep apnea solution.
- INSP’s 4.2% operating margin, well below GMED’s 15.7%, suggests higher growth investments or less mature cost structures.
- INSP’s 16.8% revenue growth, outpacing peers like GMED but lagging MASI, signals diverse market traction among medical tech rivals.
- INSP’s 37.9% stock drop and 77.2 PE, while peers rise, may reflect investor valuation concerns amid high growth expectations.
Here’s how Inspire Medical Systems stacks up across size, valuation, and profitability versus key peers.
| INSP | GMED | PEN | MASI | NVCR | |
|---|---|---|---|---|---|
| Market Cap ($ Bil) | 3.4 | 11.8 | 11.6 | 7.9 | 1.4 |
| Revenue ($ Bil) | 0.9 | 2.8 | 1.3 | 2.2 | 0.6 |
| PE Ratio | 77.2 | 27.9 | 71.0 | -13.8 | -7.9 |
| LTM Revenue Growth | 16.8% | 11.7% | 14.6% | 38.5% | 11.2% |
| LTM Operating Margin | 4.2% | 15.7% | 13.0% | 6.1% | -27.5% |
| LTM FCF Margin | 11.2% | 20.6% | 11.4% | 7.7% | -10.1% |
| 12M Market Return | -37.9% | 3.8% | 21.8% | -15.8% | -29.3% |
For more details on Inspire Medical Systems, read Buy or Sell INSP Stock. Below we compare INSP’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| INSP | 16.8% | 28.5% | 53.2% | 74.7% |
| GMED | 11.7% | 60.6% | 53.3% | 6.8% |
| PEN | 14.6% | 12.9% | 25.0% | 13.3% |
| MASI | 38.5% | 2.3% | 0.6% | 64.3% |
| NVCR | 11.2% | 18.8% | -5.3% | 0.5% |
Operating Margin Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| INSP | 4.2% | 4.5% | -6.4% | -11.7% |
| GMED | 15.7% | 8.7% | 12.9% | 23.1% |
| PEN | 13.0% | 7.2% | 8.7% | 0.7% |
| MASI | 6.1% | 1.8% | 8.0% | 10.3% |
| NVCR | -27.5% | -28.2% | -45.7% | -16.6% |
PE Ratio Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| INSP | 77.2 | 103.1 | -281.8 | -157.5 |
| GMED | 27.9 | 109.0 | 49.0 | 39.2 |
| PEN | 71.0 | 654.8 | 106.2 | -4204.9 |
| MASI | -13.8 | -28.9 | 75.9 | 55.3 |
| NVCR | -7.9 | -19.1 | -7.7 | -83.0 |
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