InMode Ltd. (INMD) Key Metrics
INMD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $814.8M
- Enterprise value
- $319.9M
- P/E (TTM)
- 11.7 10-yr median 18.9
- Forward P/E
- 10.0
- PEG ratio
- 2.90
- Price / sales
- 2.2 10-yr median 6.7
- Price / book
- 1.3 10-yr median 5.5
- EV / EBITDA
- 4.6 10-yr median 12.4
- Dividend yield
- —
- Beta
- 2.03
INMD key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsINMD valuation Price multiples at each fiscal year-end price.
INMD returns How much profit the business earns on the capital it uses.
INMD per-share figures Results divided by the shares outstanding at year-end.
INMD financial health Debt, liquidity and how easily interest is covered.
INMD efficiency & capital use Working capital cycle and where the cash goes.
INMD valuation history
INMD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
INMD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
INMD cash returned to shareholders
INMD price vs earnings per share
INMD key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $961.4M | $1.35B | $1.91B | $3.05B | $6.07B | $2.00B | $1.49B | — | — | — |
| Enterprise value | $419.3M | $757.3M | $1.18B | $2.51B | $5.66B | $1.74B | $1.30B | — | — | — |
| P/E ratio | 10.2 | 7.4 | 9.7 | 18.9 | 36.8 | 26.6 | 24.4 | — | — | — |
| Price / sales | 2.6 | 3.4 | 3.9 | 6.7 | 17.0 | 9.7 | 9.5 | — | — | — |
| Price / book | 1.4 | 1.9 | 2.4 | 5.5 | 14.6 | 7.9 | 8.5 | — | — | — |
| Price / free cash flow | 11.4 | 10.2 | 10.9 | 16.9 | 34.9 | 25.4 | 24.3 | — | — | — |
| Price / operating cash flow | 11.3 | 10.1 | 10.8 | 16.8 | 34.7 | 25.2 | 24.0 | — | — | — |
| EV / sales | 1.1 | 1.9 | 2.4 | 5.5 | 15.8 | 8.4 | 8.3 | — | — | — |
| EV / EBITDA | 3.8 | 5.3 | 5.4 | 12.4 | 33.6 | 23.7 | 21.7 | — | — | — |
| EV / free cash flow | 5.0 | 5.7 | 6.7 | 13.9 | 32.5 | 22.1 | 21.1 | — | — | — |
| Earnings yield | 9.8% | 13.5% | 10.4% | 5.3% | 2.7% | 3.8% | 4.1% | — | — | — |
| Free cash flow yield | 8.8% | 9.8% | 9.2% | 5.9% | 2.9% | 3.9% | 4.1% | — | — | — |
| Shareholder yield (dividends + buybacks) | 13.3% | 21.2% | 0.0% | 1.4% | 0.6% | 0.9% | 0.0% | — | — | — |
| Share price at fiscal year-end | $14.69 | $16.70 | $22.24 | $35.70 | $70.58 | $23.74 | $19.60 | — | — | — |
| Per share | ||||||||||
| Revenue per share | $5.66 | $4.90 | $5.72 | $5.32 | $4.16 | $2.45 | $2.05 | $1.57 | $0.84 | $0.43 |
| Earnings per share | $1.43 | $2.25 | $2.30 | $1.89 | $1.92 | $0.89 | $0.80 | $0.35 | $0.14 | $0.01 |
| Operating cash flow per share | $1.30 | $1.65 | $2.06 | $2.13 | $2.03 | $0.94 | $0.82 | $0.58 | $0.23 | $0.06 |
| Free cash flow per share | $1.29 | $1.64 | $2.05 | $2.11 | $2.02 | $0.94 | $0.81 | $0.57 | $0.23 | $0.05 |
| Cash per share | $8.49 | $7.40 | $8.63 | $6.41 | $4.84 | $3.09 | $2.54 | $0.96 | $0.39 | $0.16 |
| Book value per share | $10.44 | $8.73 | $9.16 | $6.49 | $4.83 | $3.02 | $2.31 | $0.68 | $0.30 | $0.17 |
| Tangible book value per share | $10.44 | $8.73 | $9.16 | $6.49 | $4.83 | $3.02 | $2.31 | $0.68 | $0.30 | $0.17 |
| Capex per share | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 |
| Debt per share | $0.20 | $0.10 | $0.10 | $0.06 | $0.05 | $0.01 | $0.01 | $0.01 | $0.05 | — |
| Shares outstanding | 65.4M | 80.6M | 86.0M | 85.4M | 86.0M | 84.2M | 76.1M | 63.9M | 63.9M | 53.2M |
| Change in shares outstanding | −18.8% | −6.2% | +0.6% | −0.7% | +2.2% | +10.6% | +19.0% | 0.0% | +20.1% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 13.5% | 24.3% | 29.5% | 33.3% | 49.3% | 34.9% | 55.8% | 71.3% | 62.2% | 3.8% |
| Return on invested capital (ROIC) | 56.7% | 132.4% | 532.2% | — | — | — | — | — | — | 52.5% |
| Return on assets (ROA) | 12.1% | 22.0% | 26.3% | 28.8% | 42.6% | 29.2% | 40.8% | 37.1% | 31.5% | 2.0% |
| Return on tangible assets | 12.2% | 23.1% | 22.9% | 25.1% | 34.5% | 25.4% | 28.0% | 27.6% | 22.4% | 2.0% |
| Free cash flow margin | 22.7% | 33.4% | 35.8% | 39.6% | 48.6% | 38.2% | 39.3% | 36.4% | 27.0% | 12.2% |
| Income quality (OCF / net income) | 0.91 | 0.73 | 0.89 | 1.12 | 1.06 | 1.06 | 1.02 | 1.65 | 1.66 | 8.92 |
| Financial health | ||||||||||
| Total debt | $13.2M | $7.8M | $9.0M | $5.0M | $4.5M | $1.2M | $744,000 | $324,000 | $3.0M | — |
| Cash & short-term investments | $555.3M | $596.5M | $741.6M | $547.4M | $415.9M | $260.5M | $193.4M | $61.3M | $25.0M | $8.3M |
| Net debt | −$542.1M | −$588.6M | −$732.6M | −$542.4M | −$411.4M | −$259.3M | −$192.6M | −$61.0M | −$22.0M | −$8.3M |
| Debt / equity | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 | 0.16 | — |
| Debt / assets | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.08 | — |
| Net debt / EBITDA | −4.88 | −4.08 | −3.36 | −2.68 | −2.44 | −3.54 | −3.21 | −1.93 | −2.41 | −10.10 |
| Current ratio | 9.88 | 10.23 | 13.18 | 7.67 | 9.07 | 8.27 | 6.56 | 2.64 | 2.76 | 1.94 |
| Quick ratio | 8.61 | 9.38 | 12.48 | 7.19 | 8.66 | 7.84 | 6.27 | 2.41 | 2.39 | 1.57 |
| Interest coverage | — | — | — | 54.8 | 396.9 | 22.1 | 24.7 | 172.7 | 10.5 | — |
| Working capital | $627.9M | $644.6M | $781.2M | $547.4M | $418.3M | $254.6M | $180.7M | $48.3M | $23.7M | $6.9M |
| Invested capital | $141.1M | $115.2M | $54.8M | $12.2M | $4.4M | −$5.3M | −$16.6M | −$17.7M | −$2.6M | $637,000 |
| Tangible asset value | $683.2M | $703.8M | $787.4M | $554.6M | $415.8M | $255.5M | $179.8M | $44.7M | $19.5M | $9.1M |
| Net current asset value | $615.4M | $632.6M | $769.4M | $539.6M | $407.4M | $249.3M | $174.6M | $41.4M | $17.2M | $6.9M |
| Graham number | $18.35 | $21.02 | $21.79 | $16.62 | $14.44 | $7.78 | $6.47 | $2.31 | $0.97 | $0.15 |
| Graham net-net per share | $8.46 | $7.14 | $8.39 | $5.84 | $4.44 | $2.83 | $2.20 | $0.56 | $0.20 | $0.08 |
| Capital allocation | ||||||||||
| Share buybacks (net) | $127.4M | $285.4M | $0 | $42.6M | $35.4M | $17.2M | $0 | $0 | $0 | $0 |
| Dividends + buybacks / free cash flow | 151.2% | 216.2% | 0.0% | 23.7% | 20.3% | 21.9% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / revenue | 0.3% | 0.2% | 0.1% | 0.3% | 0.3% | 0.2% | 0.4% | 0.4% | 0.4% | 0.8% |
| Capex / operating cash flow | 1.1% | 0.5% | 0.4% | 0.9% | 0.5% | 0.6% | 1.1% | 1.0% | 1.3% | 6.3% |
| Capex / depreciation | 1.40 | 0.92 | 1.13 | 2.32 | 1.82 | 1.11 | 2.29 | 2.07 | 0.93 | 1.25 |
| Stock-based compensation / revenue | 3.0% | 4.2% | 4.8% | 5.4% | 3.3% | 6.2% | 1.0% | 1.9% | 4.6% | 0.5% |
| R&D / revenue | 3.6% | 3.3% | 2.7% | 2.7% | 2.7% | 4.6% | 3.6% | 4.2% | 4.8% | 10.6% |
| SG&A / revenue | 51.9% | 48.5% | 41.1% | 37.5% | 35.7% | 45.1% | 45.3% | 49.4% | 61.5% | 62.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 44.5 | 39.1 | 26.7 | 21.3 | 19.8 | 21.7 | 23.3 | 30.2 | 34.0 | 45.8 |
| Days of inventory on hand | 341.8 | 245.6 | 192.2 | 151.3 | 122.6 | 144.3 | 147.6 | 145.4 | 157.1 | 178.2 |
| Days payables outstanding | 72.7 | 65.1 | 68.3 | 62.1 | 51.7 | 59.8 | 74.0 | 91.8 | 94.0 | 103.4 |
| Cash conversion cycle (days) | 313.5 | 219.6 | 150.5 | 110.5 | 90.7 | 106.2 | 96.9 | 83.8 | 97.1 | 120.6 |
| Receivables turnover | 8.20 | 9.32 | 13.69 | 17.13 | 18.41 | 16.82 | 15.68 | 12.08 | 10.72 | 7.97 |
| Payables turnover | 5.02 | 5.60 | 5.34 | 5.87 | 7.06 | 6.10 | 4.93 | 3.98 | 3.88 | 3.53 |
| Inventory turnover | 1.07 | 1.49 | 1.90 | 2.41 | 2.98 | 2.53 | 2.47 | 2.51 | 2.32 | 2.05 |
| Asset turnover | 0.48 | 0.48 | 0.65 | 0.81 | 0.92 | 0.80 | 1.04 | 1.66 | 1.91 | 1.40 |
| Average receivables | $45.2M | $42.3M | $35.9M | $26.5M | $19.4M | $12.3M | $10.0M | $8.3M | $5.0M | $2.9M |
| Average payables | $15.8M | $13.9M | $15.1M | $12.5M | $7.6M | $5.1M | $4.1M | $3.8M | $2.3M | $1.6M |
| Average inventory | $74.5M | $52.3M | $42.5M | $30.5M | $18.0M | $12.2M | $8.2M | $6.0M | $3.9M | $2.8M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from INMD's annual financial statements (latest annual report filed February 10, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
INMD valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), InMode traded at 10.2 times earnings, against a 10-year median of 18.9. Based on the latest twelve months, the trailing P/E is 11.7 and the forward P/E is 10.0. InMode earned a return on equity of 13.5% and a return on invested capital of 56.7% in fiscal 2025. It ended the year with $13.2 million of debt and $555.3 million in cash and short-term investments, a net cash position of $542.1 million. It returned $127.4 million to shareholders: $0 in dividends and $127.4 million in share buybacks, 151% of free cash flow. The share count rose 22.9% from 53.2M to 65.4M over 9 years.
See the INMD income statement, the INMD chart for price history, or the INMD stock overview for the latest quote and news.
INMD key metrics FAQ
What is InMode's P/E ratio?
InMode's trailing P/E ratio is 11.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.0. At the end of fiscal 2025 it was 10.2, compared with a 10-year median of 18.9.
What is InMode's EV/EBITDA?
InMode's enterprise value was 3.8 times EBITDA at the end of fiscal 2025 (enterprise value $419.3 million, EBITDA $111.0 million); the current EV/EBITDA is 4.6.
What is InMode's return on equity?
InMode's return on equity (ROE) was 13.5% in fiscal 2025: net income of $93.8 million on average shareholders' equity of $693.5 million.
What is InMode's ROIC?
InMode's return on invested capital was 56.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does InMode have?
InMode had total debt of $13.2 million at the end of fiscal 2025, a debt-to-equity ratio of 0.02 and more cash than debt.
Does InMode buy back its shares?
Yes. InMode spent $127.4 million on net share repurchases in fiscal 2025 Shares outstanding changed −18.8% over the year, to 65.4M..
What is InMode's free cash flow yield?
InMode generated $84.3 million of free cash flow in fiscal 2025, a free cash flow yield of 8.8% on its market value at year-end ($961.4 million).
What is InMode's current ratio?
InMode's current ratio was 9.88 at the end of fiscal 2025: current assets were 9.88 times current liabilities.