Latest Ratios: P/E Ratio -0.9x · EV/EBITDA N/A · ROE -106.9%. (2009–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $33M | $131M | $110M | $68M | $7M | $22M | $8M | $2M | $4M | $5M | $3M |
| Enterprise Value | $27M | $125M | $94M | $60M | $4M | $11M | $-3532525 | $-2241838 | $-5691720 | $1M | $-2211000 |
| P/E Ratio → | -0.93 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 3.69 | 14.56 | 15.73 | 10.99 | 1.31 | 4.94 | 3.10 | 0.61 | 1.03 | 1.75 | 1.39 |
| P/B Ratio | 0.94 | 2.37 | 3.06 | 1.73 | 0.39 | 0.66 | 0.63 | 0.42 | 0.42 | 1.77 | 0.65 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 13.93 | 13.37 | 9.69 | 0.73 | 2.53 | -1.42 | -0.60 | -1.58 | 0.40 | -1.17 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
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 | 29.5% | 29.5% | 21.5% | 29.1% | 21.6% | 16.8% | 3.3% | 20.3% | 27.6% | 21.2% | 5.4% |
| Operating Margin | -547.0% | -547.0% | -478.0% | -340.7% | -361.9% | -327.4% | -417.7% | -263.8% | -211.4% | -298.2% | -403.8% |
| Net Profit Margin | -543.3% | -543.3% | -456.6% | -321.0% | -357.6% | -331.9% | -424.3% | -269.8% | -201.1% | -305.6% | -446.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -106.9% | -106.9% | -84.7% | -70.0% | -72.6% | -65.3% | -120.2% | -141.9% | -126.0% | -249.2% | -1539.8% |
| ROA | -84.0% | -84.0% | -67.8% | -55.1% | -57.5% | -51.9% | -76.2% | -90.6% | -78.7% | -108.8% | -111.4% |
| ROIC | -106.7% | -106.7% | -98.6% | -69.2% | -75.7% | -93.4% | -864.5% | -5598.5% | — | — | — |
| ROCE | -100.4% | -100.4% | -83.0% | -69.1% | -68.1% | -59.5% | -99.6% | -121.7% | -117.2% | -199.4% | -438.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.06 | 0.04 | 0.09 | 0.04 | 0.12 | 0.19 | — | — | 0.66 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.10 | -0.46 | -0.20 | -0.17 | -0.32 | -0.92 | -0.84 | -1.07 | -1.36 | -1.20 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | -93.73 | -64.88 | -49.08 | — | -46.32 | -9.53 |
Net cash position: cash ($9M) exceeds total debt ($3M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.74 | 5.74 | 5.28 | 7.34 | 4.21 | 8.53 | 4.14 | 2.51 | 3.91 | 2.08 | 1.80 |
| Quick Ratio | 5.42 | 5.42 | 4.94 | 6.99 | 3.89 | 8.27 | 3.76 | 2.11 | 3.52 | 1.86 | 1.69 |
| Cash Ratio | 5.06 | 5.06 | 4.51 | 6.48 | 3.51 | 7.83 | 3.41 | 1.77 | 3.21 | 1.49 | 1.57 |
| Asset Turnover | — | 0.13 | 0.15 | 0.13 | 0.21 | 0.11 | 0.14 | 0.38 | 0.29 | 0.45 | 0.20 |
| Inventory Turnover | 1.86 | 1.86 | 2.14 | 2.09 | 2.50 | 3.27 | 1.70 | 2.40 | 2.30 | 4.08 | 3.58 |
| Days Sales Outstanding | — | 104.39 | 117.38 | 144.24 | 88.02 | 112.79 | 138.80 | 95.44 | 83.12 | 112.37 | 98.86 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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 | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 81.6% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 81.6% | 0.0% | 0.0% |
| Shares Outstanding | — | $73M | $42M | $24M | $8M | $7M | $2M | $139331 | $30769 | $1978 | $56 |
Binary U.S. Regulatory Approval
According to current market data, NSPR trades at a price-to-sales multiple of 3.76, which appears to discount the company as a pre-commercial U.S. entity rather than a mature medical device firm, reflecting significant skepticism regarding the timeline for FDA approval and subsequent market penetration.
The current valuation multiple suggests that investors are pricing the stock as a speculative call option on the C-GUARDIANS trial outcome rather than on existing international revenue streams. This valuation gap relative to established peers indicates that the market is heavily discounting the company's terminal value due to the binary risk of U.S. regulatory rejection.
Based on reported financial figures, NSPR's ROIC has remained consistently negative, reaching -24.7% in 2026Q1, which highlights the company's inability to generate positive returns on invested capital while it continues to prioritize clinical development and international market expansion over immediate profitability.
The persistent negative ROIC trend suggests that the capital deployed into R&D and clinical trials has yet to reach an inflection point where it contributes to shareholder value. Investors should monitor whether the eventual U.S. launch can drive sufficient scale to reverse this trend, as current returns are heavily diluted by high operating costs.
As reported in recent quarterly filings, the company's cash conversion cycle remains elevated at 124 days in 2026Q1, a figure that reflects significant friction in inventory management and distributor-led collections compared to more streamlined medical device peers in the sector.
The extended CCC appears to be driven by high days inventory outstanding, which may suggest challenges in aligning supply chain output with distributor demand. This inefficiency ties up critical liquidity that the company cannot afford to lose given its current burn rate and reliance on external capital.
Based on the company's reported figures, the current ratio has compressed to 5.15 in 2026Q1 from higher historical levels, indicating that while the firm maintains a nominal liquidity cushion, the rapid depletion of cash reserves warrants close monitoring for potential near-term financing needs.
The decline in the quick ratio suggests that the company's ability to meet short-term obligations without relying on inventory liquidation is weakening. This liquidity profile appears increasingly vulnerable, and any delay in the U.S. regulatory timeline could force management to seek dilutive capital under unfavorable market conditions.
Investors frequently misapply headline revenue growth as a proxy for operational health, yet as noted in financial statements, this metric obscures the underlying cash burn and the heavy reliance on distributor stocking orders that may not reflect true end-user clinical adoption.
Focusing solely on top-line growth ignores the reality that NSPR's business model is currently subsidized by equity dilution rather than operational cash flow. A more appropriate metric for this stage of the company's lifecycle would be the ratio of clinical trial progress to cash burn, which better captures the true cost of achieving the company's long-term strategic milestones.
Includes 30+ ratios · 17 years · Updated daily
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Quick answers to the most common questions about buying NSPR stock.
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