InMode Ltd. (INMD) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
InMode Ltd. (INMD) stock price & volume — 10-year historical chart
InMode Ltd. (INMD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
InMode Ltd. (INMD) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 10, 2026 | $0.46vs $0.42+10.5% | $104Mvs $101M+2.3% |
| Q4 2025 | Nov 5, 2025 | $0.38vs $0.35+8.3% | $93Mvs $91M+2.5% |
| Q3 2025 | Jul 30, 2025 | $0.47vs $0.43+9.3% | $96Mvs $98M-2.9% |
| Q2 2025 | Apr 28, 2025 | $0.31vs $0.33-6.1% | $78Mvs $98M-20.9% |
InMode Ltd. (INMD) competitors in Aesthetics, dermatology, and wound care — business model, growth, and fundamentals comparison
InMode Ltd. (INMD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
InMode Ltd. (INMD) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 53.46M | 100.16M | 156.36M | 206.11M | 357.56M | 454.27M | 492.05M | 394.82M | 370.5M |
| Revenue Growth % | 131.59% | 87.37% | 56.11% | 31.81% | 73.49% | 27.05% | 8.32% | -19.76% | -6.16% |
| Cost of Goods Sold | 9.05M | 15.06M | 20.24M | 30.85M | 53.59M | 73.48M | 80.71M | 77.75M | 79.53M |
| COGS % of Revenue | 16.94% | 15.03% | 12.94% | 14.97% | 14.99% | 16.18% | 16.4% | 19.69% | 21.46% |
| Gross Profit | 44.4M▲ 0% | 85.11M▲ 91.7% | 136.12M▲ 59.9% | 175.26M▲ 28.7% | 303.97M▲ 73.4% | 380.79M▲ 25.3% | 411.34M▲ 8.0% | 317.07M▼ 22.9% | 290.97M▼ 8.2% |
| Gross Margin % | 83.06% | 84.97% | 87.06% | 85.03% | 85.01% | 83.82% | 83.6% | 80.31% | 78.54% |
| Gross Profit Growth % | 154.76% | 91.66% | 59.95% | 28.75% | 73.44% | 25.27% | 8.02% | -22.92% | -8.23% |
| Operating Expenses | 35.45M | 53.62M | 76.5M | 102.42M | 136.5M | 182.93M | 215.68M | 204.53M | 205.58M |
| OpEx % of Revenue | 66.32% | 53.53% | 48.93% | 49.69% | 38.17% | 40.27% | 43.83% | 51.8% | 55.49% |
| Selling, General & Admin | 32.88M | 49.44M | 70.81M | 92.95M | 127.76M | 170.51M | 202.27M | 191.4M | 192.26M |
| SG&A % of Revenue | 61.5% | 49.36% | 45.28% | 45.1% | 35.73% | 37.53% | 41.11% | 48.48% | 51.89% |
| Research & Development | 2.58M | 4.18M | 5.7M | 9.47M | 9.53M | 12.43M | 13.41M | 13.14M | 13.32M |
| R&D % of Revenue | 4.82% | 4.17% | 3.64% | 4.59% | 2.67% | 2.74% | 2.73% | 3.33% | 3.59% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | -800K | 0 | 0 | 0 | 0 |
| Operating Income | 8.95M▲ 0% | 23.49M▲ 162.4% | 59.62M▲ 153.8% | 72.84M▲ 22.2% | 167.48M▲ 129.9% | 197.85M▲ 18.1% | 195.66M▼ 1.1% | 112.53M▼ 42.5% | 85.39M▼ 24.1% |
| Operating Margin % | 16.74% | 23.45% | 38.13% | 35.34% | 46.84% | 43.55% | 39.76% | 28.5% | 23.05% |
| Operating Income Growth % | 1237.82% | 162.45% | 153.81% | 22.18% | 129.92% | 18.14% | -1.11% | -42.49% | -24.12% |
| EBITDA | 9.15M | 23.67M | 59.92M | 73.26M | 167.99M | 198.53M | 196.28M | 113.26M | 86.08M |
| EBITDA Margin % | 17.12% | 23.63% | 38.32% | 35.54% | 46.98% | 43.7% | 39.89% | 28.69% | 23.23% |
| EBITDA Growth % | 1016.34% | 158.61% | 153.12% | 22.26% | 129.32% | 18.18% | -1.13% | -42.3% | -24% |
| D&A (Non-Cash Add-back) | 204K | 184K | 302K | 416K | 517K | 680K | 623K | 728K | 695K |
| EBIT | 8.95M | 31.49M | 59.62M | 72.84M | 167.48M | 197.85M | 195.66M | 112.53M | 110.33M |
| Net Interest Income | 849K | 136K | 2.42M | 3.29M | 525K | 3.61M | 21.61M | 30.94M | 24.94M |
| Interest Income | 849K | 136K | 2.42M | 3.29M | 525K | 3.61M | 21.61M | 30.94M | 24.94M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 849K | -7.86M | 2.42M | 3.29M | 525K | 3.61M | 21.61M | 30.94M | 24.94M |
| Pretax Income | 9.8M▲ 0% | 23.63M▲ 141.1% | 62.04M▲ 162.6% | 76.13M▲ 22.7% | 168M▲ 120.7% | 201.47M▲ 19.9% | 217.27M▲ 7.8% | 143.47M▼ 34.0% | 110.33M▼ 23.1% |
| Pretax Margin % | 18.33% | 23.59% | 39.68% | 36.94% | 46.98% | 44.35% | 44.16% | 36.34% | 29.78% |
| Income Tax | 980K | 1.26M | 883K | 1.11M | 2.93M | 39.95M | 19.35M | -37.81M | 16.5M |
| Effective Tax Rate % | 10% | 5.33% | 1.42% | 1.45% | 1.74% | 19.83% | 8.91% | -26.35% | 14.95% |
| Net Income | 8.82M▲ 0% | 22.37M▲ 153.7% | 61.15M▲ 173.3% | 75.03M▲ 22.7% | 164.97M▲ 119.9% | 161.52M▼ 2.1% | 197.92M▲ 22.5% | 181.28M▼ 8.4% | 93.83M▼ 48.2% |
| Net Margin % | 16.5% | 22.33% | 39.11% | 36.4% | 46.14% | 35.56% | 40.22% | 45.91% | 25.33% |
| Net Income Growth % | 2524.7% | 153.67% | 173.32% | 22.71% | 119.87% | -2.09% | 22.54% | -8.41% | -48.24% |
| Net Income (Continuing) | 8.82M | 22.36M | 61.16M | 75.03M | 165.07M | 161.52M | 197.92M | 181.28M | 93.83M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 3.07M | 1.41M | 3.74M | 1.51M | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.14▲ 0% | 0.35▲ 150.0% | 0.80▲ 128.6% | 0.89▲ 11.2% | 1.92▲ 115.7% | 1.89▼ 1.6% | 2.30▲ 21.7% | 2.25▼ 2.2% | 1.43▼ 36.4% |
| EPS Growth % | - | 150% | 128.57% | 11.25% | 115.73% | -1.56% | 21.69% | -2.17% | -36.44% |
| EPS (Basic) | 0.14 | 0.35 | 1.05 | 1.04 | 2.03 | 1.96 | 2.37 | 2.29 | 1.45 |
| Diluted Shares Outstanding | 63.95M | 63.95M | 76.12M | 84.18M | 86.02M | 85.4M | 85.95M | 80.6M | 65.44M |
| Basic Shares Outstanding | 63.95M | 63.95M | 58.46M | 72.11M | 81.44M | 82.48M | 83.53M | 79.31M | 64.63M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
InMode Ltd. (INMD) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 37.15M | 77.76M | 213.21M | 289.59M | 470.11M | 629.37M | 845.33M | 714.45M | 698.62M |
| Cash & Short-Term Investments | 25.04M | 61.3M | 193.36M | 260.53M | 415.91M | 547.38M | 741.61M | 596.47M | 555.33M |
| Cash Only | 17.59M | 24.72M | 44.73M | 68.94M | 68.14M | 97.54M | 144.41M | 155.33M | 302.54M |
| Short-Term Investments | 7.45M | 36.58M | 148.63M | 191.6M | 347.78M | 449.84M | 597.19M | 441.14M | 252.79M |
| Accounts Receivable | 7.07M | 9.5M | 10.44M | 14.07M | 24.77M | 28.27M | 43.63M | 41.05M | 49.28M |
| Days Sales Outstanding | 48.3 | 34.63 | 24.37 | 24.92 | 25.29 | 22.71 | 32.36 | 37.95 | 48.55 |
| Inventory | 5.04M | 6.96M | 9.41M | 14.98M | 21.03M | 39.9M | 45.09M | 59.55M | 89.37M |
| Days Inventory Outstanding | 203 | 168.79 | 169.68 | 177.28 | 143.2 | 198.17 | 203.94 | 279.54 | 410.19 |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 2.29M | 3.29M | 5.18M | 6.17M | 8.43M | 15.04M | 17.96M | 71.22M | 67.81M |
| Property, Plant & Equipment | 346K | 544K | 2.3M | 2.13M | 5.72M | 7.37M | 12.08M | 11.05M | 10.87M |
| Fixed Asset Turnover | 154.50x | 184.12x | 67.87x | 96.54x | 62.46x | 61.63x | 40.73x | 35.72x | 34.07x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.14M | 544K | 600K | 3.97M | 600K | 600K | 700K | 700K | 3.71M |
| Other Non-Current Assets | 1.14M | 1.44M | 374K | 0 | 768K | 3.97M | 3.67M | 3.18M | 0 |
| Total Assets | 39.44M▲ 0% | 81.06M▲ 105.5% | 218.38M▲ 169.4% | 295.76M▲ 35.4% | 478.54M▲ 61.8% | 644.41M▲ 34.7% | 863.29M▲ 34.0% | 785.67M▼ 9.0% | 766.43M▼ 2.4% |
| Asset Turnover | 1.36x | 1.24x | 0.72x | 0.70x | 0.75x | 0.70x | 0.57x | 0.50x | 0.48x |
| Asset Growth % | 139.22% | 105.51% | 169.42% | 35.43% | 61.8% | 34.66% | 33.97% | -8.99% | -2.45% |
| Total Current Liabilities | 13.46M | 29.43M | 32.49M | 35.03M | 51.85M | 82.02M | 64.14M | 69.85M | 70.74M |
| Accounts Payable | 3.06M | 4.51M | 3.7M | 6.41M | 8.78M | 16.24M | 13.97M | 13.78M | 17.91M |
| Days Payables Outstanding | 123.53 | 109.3 | 66.77 | 75.84 | 59.79 | 80.67 | 63.16 | 64.7 | 82.21 |
| Short-Term Debt | 0 | 0 | 0 | 880K | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 1.13M | 5.75M | 15.59M | 11.9M | 13.8M | 13.8M | 10.92M | 16.75M | 0 |
| Other Current Liabilities | 4.22M | 13.37M | 13M | 5.06M | 26.82M | 31.29M | 33.49M | 33.49M | 26.7M |
| Current Ratio | 2.76x | 2.64x | 6.56x | 8.27x | 9.07x | 7.67x | 13.18x | 10.23x | 9.88x |
| Quick Ratio | 2.39x | 2.41x | 6.27x | 7.84x | 8.66x | 7.19x | 12.48x | 9.38x | 8.61x |
| Cash Conversion Cycle | 127.77 | 94.12 | 127.28 | 126.36 | 108.7 | 140.2 | 173.14 | 252.8 | 376.53 |
| Total Non-Current Liabilities | 6.53M | 6.95M | 6.09M | 5.26M | 10.89M | 7.77M | 11.78M | 12M | 12.49M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.01M |
| Capital Lease Obligations | 0 | 0 | 744K | 358K | 3.31M | 3.51M | 6.61M | 5.31M | 5.01M |
| Deferred Tax Liabilities | 106K | 11K | 37K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 3.07M | 2.96M | 1.49M | 2.91M | 4.83M | 303K | 1.4M | 3.36M | -572K |
| Total Liabilities | 19.99M | 36.38M | 38.58M | 40.29M | 62.74M | 89.79M | 75.91M | 81.85M | 83.23M |
| Total Debt | 0 | 0 | 744K | 1.24M | 4.52M | 4.96M | 9.02M | 7.82M | 13.23M |
| Net Debt | -17.59M | -24.72M | -43.98M | -67.7M | -63.62M | -92.58M | -135.39M | -147.51M | -289.31M |
| Debt / Equity | - | - | 0.00x | 0.00x | 0.01x | 0.01x | 0.01x | 0.01x | 0.02x |
| Debt / EBITDA | - | - | 0.01x | 0.02x | 0.03x | 0.02x | 0.05x | 0.07x | 0.15x |
| Net Debt / EBITDA | -1.92x | -1.04x | -0.73x | -0.92x | -0.38x | -0.47x | -0.69x | -1.30x | -3.36x |
| Interest Coverage | - | - | - | - | - | - | - | - | - |
| Total Equity | 22.52M▲ 0% | 44.68M▲ 98.4% | 179.8M▲ 302.5% | 255.47M▲ 42.1% | 415.8M▲ 62.8% | 554.62M▲ 33.4% | 787.37M▲ 42.0% | 703.81M▼ 10.6% | 683.2M▼ 2.9% |
| Equity Growth % | 147.35% | 98.39% | 302.46% | 42.09% | 62.76% | 33.39% | 41.97% | -10.61% | -2.93% |
| Book Value per Share | 0.35 | 0.70 | 2.36 | 3.03 | 4.83 | 6.49 | 9.16 | 8.73 | 10.44 |
| Total Shareholders' Equity | 19.45M | 43.26M | 176.07M | 253.96M | 415.8M | 554.62M | 787.37M | 703.81M | 683.2M |
| Common Stock | 74K | 74K | 93K | 108K | 239K | 241K | 245K | 249K | 251K |
| Retained Earnings | 10.82M | 32.97M | 93.99M | 169.02M | 333.99M | 495.51M | 693.43M | 874.7M | 968.53M |
| Treasury Stock | 0 | 0 | 0 | -17.22M | -39.8M | -82.44M | -82.44M | -367.82M | -495.27M |
| Accumulated OCI | 541K | 66K | 124K | 356K | -1.32M | -7.49M | -1.68M | -340K | 69K |
| Minority Interest | 3.07M | 1.41M | 3.74M | 1.51M | 0 | 0 | 0 | 0 | 0 |
InMode Ltd. (INMD) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 14.61M | 36.89M | 62.21M | 79.22M | 174.88M | 181.58M | 176.83M | 132.66M | 85.26M |
| Operating CF Margin % | 27.33% | 36.83% | 39.78% | 38.44% | 48.91% | 39.97% | 35.94% | 33.6% | 23.01% |
| Operating CF Growth % | 387.62% | 152.49% | 68.64% | 27.36% | 120.74% | 3.83% | -2.62% | -24.97% | -35.73% |
| Net Income | 8.82M | 22.36M | 61.16M | 75.03M | 165.07M | 161.52M | 197.92M | 181.28M | 93.83M |
| Depreciation & Amortization | 204K | 184K | 302K | 416K | 517K | 680K | 623K | 728K | 695K |
| Stock-Based Compensation | 2.44M | 1.95M | 1.56M | 12.85M | 11.96M | 24.45M | 23.6M | 16.57M | 11.13M |
| Deferred Taxes | -580K | -592K | -594K | 1.73M | -770K | 84K | -184K | -55.18M | 0 |
| Other Non-Cash Items | 214K | 8.19M | -754K | -178K | 1.91M | -690K | -3.69M | -3.66M | 3.9M |
| Working Capital Changes | 3.52M | 4.79M | 537K | -10.61M | -3.81M | -4.47M | -41.44M | -7.07M | -24.3M |
| Change in Receivables | -2.7M | -571K | 449K | -4.42M | -10.54M | -10.41M | -18.31M | 251K | -11.13M |
| Change in Inventory | -2.34M | -1.89M | -2.44M | -5.58M | -6.04M | -18.87M | -5.2M | -14.45M | -14.5M |
| Change in Payables | 1.51M | 541K | 92K | 2.71M | 2.37M | 7.46M | -2.28M | -184K | 4.13M |
| Cash from Investing | -5.68M | -29.74M | -112.45M | -43.3M | -160.11M | -109.47M | -136.06M | 162.21M | 186.03M |
| Capital Expenditures | -189K | -381K | -693K | -463K | -939K | -1.57M | -705K | -669K | -972K |
| CapEx % of Revenue | 0.35% | 0.38% | 0.44% | 0.22% | 0.26% | 0.35% | 0.14% | 0.17% | 0.26% |
| Acquisitions | 1.73M | 0 | 18.91M | 20.89M | 3.91M | 20.61M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -5.5M | -29.36M | -18.91M | -20.89M | -3.91M | -20.61M | 0 | 0 | 0 |
| Cash from Financing | 1.78M | 186K | 70.17M | -12.44M | -15.02M | -41.09M | 5.5M | -282.77M | -126.06M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 0 | 69.78M | -12.44M | -15.02M | -42.64M | 0 | -285.38M | -126.06M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -17.22M | -35.37M | -42.64M | 0 | -285.38M | -127.44M |
| Other Financing | 1.78M | 186K | 389K | 0 | 0 | 1.55M | 5.5M | 2.61M | 0 |
| Net Change in Cash | 10.9M▲ 0% | 7.13M▼ 34.6% | 20.01M▲ 180.7% | 24.21M▲ 21.0% | -802K▼ 103.3% | 29.4M▲ 3766.3% | 46.87M▲ 59.4% | 10.92M▼ 76.7% | 147.21M▲ 1248.4% |
| Free Cash Flow | 14.42M▲ 0% | 36.51M▲ 153.2% | 61.51M▲ 68.5% | 78.76M▲ 28.0% | 173.95M▲ 120.9% | 180M▲ 3.5% | 176.12M▼ 2.2% | 132M▼ 25.1% | 84.28M▼ 36.1% |
| FCF Margin % | 26.98% | 36.45% | 39.34% | 38.21% | 48.65% | 39.62% | 35.79% | 33.43% | 22.75% |
| FCF Growth % | 413.53% | 153.16% | 68.51% | 28.04% | 120.85% | 3.48% | -2.16% | -25.05% | -36.15% |
| FCF per Share | 0.23 | 0.57 | 0.81 | 0.94 | 2.02 | 2.11 | 2.05 | 1.64 | 1.29 |
| FCF Conversion (FCF/Net Income) | 1.66x | 1.65x | 1.02x | 1.06x | 1.06x | 1.12x | 0.89x | 0.73x | 0.91x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 737K | 1.8M | 1.42M | 217K | 1.66M | 25.84M | 31.61M | 17.69M | 0 |
InMode Ltd. (INMD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 3.69% | 55.78% | 66.59% | 54.48% | 34.47% | 49.15% | 33.29% | 29.5% | 24.31% | 13.53% |
| Return on Invested Capital (ROIC) | 20.84% | 183.05% | 141.61% | 57.41% | 33.76% | 46.53% | 36.45% | 26.35% | 13.97% | 13.48% |
| Gross Margin | 75.51% | 83.06% | 84.97% | 87.06% | 85.03% | 85.01% | 83.82% | 83.6% | 80.31% | 78.54% |
| Net Margin | 1.46% | 16.5% | 22.33% | 39.11% | 36.4% | 46.14% | 35.56% | 40.22% | 45.91% | 25.33% |
| Debt / Equity | - | - | - | 0.00x | 0.00x | 0.01x | 0.01x | 0.01x | 0.01x | 0.02x |
| FCF Conversion | 8.92x | 1.66x | 1.65x | 1.02x | 1.06x | 1.06x | 1.12x | 0.89x | 0.73x | 0.91x |
| Revenue Growth | - | 131.59% | 87.37% | 56.11% | 31.81% | 73.49% | 27.05% | 8.32% | -19.76% | -6.16% |
InMode Ltd. (INMD) stock FAQ — growth, dividends, profitability & financials explained
InMode Ltd. (INMD) reported $370.5M in revenue for fiscal year 2025. This represents a 1505% increase from $23.1M in 2016.
InMode Ltd. (INMD) saw revenue decline by 6.2% over the past year.
Yes, InMode Ltd. (INMD) is profitable, generating $93.8M in net income for fiscal year 2025 (25.3% net margin).
InMode Ltd. (INMD) has a return on equity (ROE) of 13.5%. This is reasonable for most industries.
InMode Ltd. (INMD) generated $89.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
InMode Ltd. (INMD) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates