Discounted Cash Flow

Inspire Medical Systems, Inc.

INSP · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2017 $28.6m $-17.5m $-16.2m -61.3%
2018 $50.6m (77.1%) $-21.8m (-24.7%) $-18.9m (-16.9%) -43.1% (29.6%)
2019 $82.0m (62.2%) $-33.2m (-52.3%) $-35.6m (-87.8%) -40.5% (6.1%) $-1.40
2020 $115.4m (40.6%) $-57.2m (-72.1%) $-55.5m (-56.0%) -49.6% (-22.4%) $-2.19 (-56.4%)
2021 $233.4m (102.3%) $-42.0m (26.5%) $-24.8m (55.3%) -18.0% (63.7%) $-1.54 (29.7%)
2022 $407.9m (74.7%) $-44.9m (-6.8%) $2.5m (110.0%) -11.0% (38.9%) $-1.60 (-3.9%)
2023 $624.8m (53.2%) $-21.2m (52.9%) $1.0m (-58.6%) -3.4% (69.2%) $-0.72 (55.0%)
2024 $802.8m (28.5%) $53.5m (353.0%) $91.1m (8798.7%) 6.7% (296.9%) $1.80 (349.7%)
2025 $912.0m (13.6%) $145.4m (171.8%) $78.5m (-13.9%) 15.9% (139.2%) $4.95 (175.4%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model