InMode Ltd. (INMD) Financial Ratios
10 years of historical data (2016–2025) · Healthcare · Medical - Devices
EV/EBITDA
↓
6.64
↓-57% vs avg
5yr avg: 15.62
30Y Low7.8·High35.8
P/FCF
↓
10.22
↓-39% vs avg
5yr avg: 16.86
30Y Low10.2·High34.9
P/B Ratio
↓
1.30
↓-75% vs avg
5yr avg: 5.17
30Y Low1.4·High14.6
ROE
↓
13.5%
↑-55% vs avg
5yr avg: 30.0%
30Y Low4%·High67%
Debt/EBITDA
↑
0.15
↑+140% vs avg
5yr avg: 0.06
30Y Low0.0·High0.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
INMD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
InMode Ltd. trades at 9.5x earnings, 43% below its 5-year average of 16.6x, sitting at the 14th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.2x, the stock trades at a discount of 57%. On a free-cash-flow basis, the stock trades at 10.2x P/FCF, 39% below the 5-year average of 16.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $861M | $961M | $1.3B | $1.9B | $3.0B | $6.1B | $2.0B | $1.5B | — | — | — |
| Enterprise Value | $572M | $672M | $1.2B | $1.8B | $3.0B | $6.0B | $1.9B | $1.4B | — | — | — |
| P/E Ratio → | 9.50 | 10.27 | 7.42 | 9.67 | 18.89 | 36.76 | 26.67 | 24.50 | — | — | — |
| P/S Ratio | 2.32 | 2.59 | 3.41 | 3.89 | 6.71 | 16.98 | 9.70 | 9.54 | — | — | — |
| P/B Ratio | 1.30 | 1.41 | 1.91 | 2.43 | 5.50 | 14.60 | 7.82 | 8.30 | — | — | — |
| P/FCF | 10.22 | 11.41 | 10.20 | 10.85 | 16.94 | 34.90 | 25.37 | 24.25 | — | — | — |
| P/OCF | 10.10 | 11.28 | 10.15 | 10.81 | 16.79 | 34.71 | 25.23 | 23.98 | — | — | — |
P/E links to full P/E history page with 30-year chart
INMD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
InMode Ltd.'s enterprise value stands at 6.6x EBITDA, 57% below its 5-year average of 15.6x. The Healthcare sector median is 14.1x, placing the stock at a 53% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.81 | 3.04 | 3.61 | 6.51 | 16.80 | 9.37 | 9.26 | — | — | — |
| EV / EBITDA | 6.64 | 7.81 | 10.58 | 9.05 | 14.89 | 35.76 | 26.36 | 24.16 | — | — | — |
| EV / EBIT | 6.70 | 6.09 | 10.65 | 9.08 | 14.94 | 35.87 | 26.51 | 24.29 | — | — | — |
| EV / FCF | — | 7.97 | 9.08 | 10.09 | 16.42 | 34.54 | 24.51 | 23.54 | — | — | — |
INMD Profitability
Margins and return-on-capital ratios measuring operating efficiency
InMode Ltd. earns an operating margin of 23.0%. Operating margins have compressed from 39.8% to 23.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 13.5% is modest. ROIC of 13.5% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.5% | 78.5% | 80.3% | 83.6% | 83.8% | 85.0% | 85.0% | 87.1% | 85.0% | 83.1% | 75.5% |
| Operating Margin | 23.0% | 23.0% | 28.5% | 39.8% | 43.6% | 46.8% | 35.3% | 38.1% | 23.5% | 16.7% | 2.9% |
| Net Profit Margin | 25.3% | 25.3% | 45.9% | 40.2% | 35.6% | 46.1% | 36.4% | 39.1% | 22.3% | 16.5% | 1.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.5% | 13.5% | 24.3% | 29.5% | 33.3% | 49.2% | 34.5% | 54.5% | 66.6% | 55.8% | 3.7% |
| ROA | 12.1% | 12.1% | 22.0% | 26.3% | 28.8% | 42.6% | 29.2% | 40.8% | 37.1% | 31.5% | 2.0% |
| ROIC | 13.5% | 13.5% | 14.0% | 26.3% | 36.4% | 46.5% | 33.8% | 57.4% | 141.6% | 183.1% | 20.8% |
| ROCE | 12.1% | 12.1% | 14.9% | 28.7% | 40.0% | 48.7% | 32.6% | 50.2% | 60.5% | 51.0% | 7.3% |
INMD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
InMode Ltd. carries a Debt/EBITDA ratio of 0.2x, which is very conservative (95% below the sector average of 3.1x). The company holds a net cash position — cash of $303M exceeds total debt of $13M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | — | — | — |
| Debt / EBITDA | 0.15 | 0.15 | 0.07 | 0.05 | 0.02 | 0.03 | 0.02 | 0.01 | — | — | — |
| Net Debt / Equity | — | -0.42 | -0.21 | -0.17 | -0.17 | -0.15 | -0.26 | -0.24 | -0.55 | -0.78 | -0.74 |
| Net Debt / EBITDA | -3.36 | -3.36 | -1.30 | -0.69 | -0.47 | -0.38 | -0.92 | -0.73 | -1.04 | -1.92 | -8.17 |
| Debt / FCF | — | -3.43 | -1.12 | -0.77 | -0.51 | -0.37 | -0.86 | -0.72 | -0.68 | -1.22 | -2.38 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($303M) exceeds total debt ($13M)
INMD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
InMode Ltd.'s current ratio of 9.88x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 8.61x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 13.18x to 9.88x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.88 | 9.88 | 10.23 | 13.18 | 7.67 | 9.07 | 8.27 | 6.56 | 2.64 | 2.76 | 1.94 |
| Quick Ratio | 8.61 | 8.61 | 9.38 | 12.48 | 7.19 | 8.66 | 7.84 | 6.27 | 2.41 | 2.39 | 1.57 |
| Cash Ratio | 7.85 | 7.85 | 8.54 | 11.56 | 6.67 | 8.02 | 7.44 | 5.95 | 2.08 | 1.86 | 1.12 |
| Asset Turnover | — | 0.48 | 0.50 | 0.57 | 0.70 | 0.75 | 0.70 | 0.72 | 1.24 | 1.36 | 1.40 |
| Inventory Turnover | 0.89 | 0.89 | 1.31 | 1.79 | 1.84 | 2.55 | 2.06 | 2.15 | 2.16 | 1.80 | 2.05 |
| Days Sales Outstanding | — | 48.55 | 37.95 | 32.36 | 22.71 | 25.29 | 24.92 | 24.37 | 34.63 | 48.30 | 45.78 |
INMD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
InMode Ltd. returns 14.8% to shareholders annually primarily through share buybacks. The earnings yield of 10.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.5% | 9.7% | 13.5% | 10.3% | 5.3% | 2.7% | 3.7% | 4.1% | — | — | — |
| FCF Yield | 9.8% | 8.8% | 9.8% | 9.2% | 5.9% | 2.9% | 3.9% | 4.1% | — | — | — |
| Buyback Yield | 14.8% | 13.3% | 21.2% | 0.0% | 1.4% | 0.6% | 0.9% | 0.0% | — | — | — |
| Total Shareholder Yield | 14.8% | 13.3% | 21.2% | 0.0% | 1.4% | 0.6% | 0.9% | 0.0% | — | — | — |
| Shares Outstanding | — | $65M | $81M | $86M | $85M | $86M | $84M | $76M | $64M | $64M | $53M |
Peer Comparison
Compare INMD with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 INMDYou | $861M | 9.5 | 6.6 | 10.2 | 78.5% | 23.0% | 13.5% | 13.5% | 0.2 |
 AEYE | $95M | -30.6 | — | — | 78.3% | -7.9% | -43.2% | -42.4% | — |
 STAA | $1B | -17.1 | — | — | 73.9% | -19.2% | -21.7% | -13.2% | — |
 NVCR | $2B | -13.5 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 ISRG | $160B | 57.4 | 43.4 | 64.4 | 66.0% | 29.3% | 16.6% | 15.0% | 0.1 |
 GMED | $12B | 22.8 | 19.4 | 20.5 | 67.4% | 16.3% | 12.3% | 8.9% | 0.2 |
 LNTH | $6B | 25.3 | 13.8 | 15.8 | 61.1% | 20.2% | 21.4% | 30.6% | 0.0 |
 ABT | $150B | 11.3 | 15.7 | 23.6 | 50.8% | 16.3% | 30.9% | 9.9% | 1.5 |
 MDT | $99B | 21.5 | 14.3 | 19.2 | 65.3% | 17.8% | 9.4% | 6.0% | 3.2 |
 BSX | $83B | 28.9 | 25.1 | 22.8 | 69.0% | 19.8% | 12.4% | 8.8% | 3.3 |
 SYK | $112B | 34.8 | 20.2 | 26.1 | 64.0% | 19.5% | 15.1% | 11.4% | 2.4 |
| Healthcare Median | — | 22.2 | 14.1 | 18.6 | 64.1% | -5.3% | -34.0% | -11.2% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonINMD — Frequently Asked Questions
Quick answers to the most common questions about buying INMD stock.
What is InMode Ltd.'s P/E ratio?
InMode Ltd.'s current P/E ratio is 9.5x. The historical average is 19.2x. This places it at the 14th percentile of its historical range.
What is InMode Ltd.'s EV/EBITDA?
InMode Ltd.'s current EV/EBITDA is 6.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.4x.
What is InMode Ltd.'s ROE?
InMode Ltd.'s return on equity (ROE) is 13.5%. The historical average is 36.5%.
Is INMD stock overvalued?
Based on historical data, InMode Ltd. is trading at a P/E of 9.5x. This is at the 14th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are InMode Ltd.'s profit margins?
InMode Ltd. has 78.5% gross margin and 23.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does InMode Ltd. have?
InMode Ltd.'s Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.