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InMode Ltd (INMD) Fair Value & Analysis

Healthcare · US · Market cap $878M

IL InMode Ltd logo InMode Ltd INMD · US
Price$15.31
Fair Value$27.75
Upside+81.3%
Quality75/100
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Mixed Growth
Highly profitable · 23.3% net margin
generates free cash flow
Ranks above peers (9/13)
Moderate moat 62/100
Evidence: High Range $18.92 – $34.69 Share as image

Fair value as of: Jul 16, 2026

From 24 valuation models · updated 24 days ago

Fair value updated Jul 16, 2026, revised from $26.23 to $27.75 (+5.8%) since Jun 25, 2026. Share price +5.9% over the past month.

A strong business, screening 81% undervalued on our models.

What matters now

  • The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case ($18.92). The market is more pessimistic than our downside scenario.
  • A fairly wide model range ($18.92 to $34.69) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$97.86 $12.76 Fair Value $27.75 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range $12.76 – $97.86 · fair‑value band $18.92 – $34.69 · the $15.31 price screens below the $27.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

InMode Ltd (INMD) currently trades at $15.31, while our model-based Fair Value estimate is $27.75, implying the stock looks roughly 81.3% undervalued today. The Quality Score stands at 75/100 (high quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, InMode Ltd generated revenue of $375M at a net margin of 23.3%. Revenue grew 5.3% year over year. It earns a return on equity of 13.6%. The balance sheet holds a net cash position of $289M. Fundamentals as of Jul 16, 2026

Our scenario range runs from $18.92 (bear case) to $34.69 (bull case); at $15.31, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 9% below its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -22% fair-value upside, at 81%, INMD screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $21.61 $34.43 $52.01 72
Growth-Adj P/E $27.06 $38.66 $50.26 68
Rev-Margin DCF $19.95 $31.41 $47.25 67
All 24 models by family
DCF Models
FCF DCF $22.14 $34.40 $60.06 38
Owner Earnings $24.00 $39.74 $66.08 31
5Y Revenue Exit $19.95 $31.80 $48.40 39
5Y EBITDA Exit $20.70 $33.45 $50.02 41
5Y P/E Exit $27.47 $48.32 $73.55 38
10Y Revenue Exit $20.11 $31.35 $49.69 36
10Y EBITDA Exit $21.00 $32.49 $51.01 37
10Y P/E Exit $25.22 $42.83 $70.17 35
Earnings-Based
Graham-Dodd $11.10 $63.27 $87.95 54
Lynch FV $17.79 $25.42 $33.04 50
PEG = 1.0 $17.79 $25.42 $33.04 46
EPV $14.85 $16.16 $17.25 59
Multiples
P/E Multiple $26.93 $35.91 $44.89 63
P/S Multiple $16.92 $22.56 $28.20 58
P/B Multiple $20.81 $27.75 $34.69 55
EV/EBIT $24.20 $30.52 $36.83 53
EV/EBITDA $20.99 $26.23 $31.47 54
EV/Revenue $18.78 $24.57 $30.37 43
Asset-Based
NCAV (Graham) $5.94 $7.96 $11.89 50
Growth DCF
Growth DCF $21.61 $34.43 $52.01 72
Rev-Margin DCF $19.95 $31.41 $47.25 67
Economic Profit
Residual Income $10.82 $12.76 $24.63 61
ROIC Compounder $16.09 $19.66 $24.35 67
Growth Earnings
Growth-Adj P/E $27.06 $38.66 $50.26 68

Widest divergence: Growth Earnings ($38.66) versus Asset-Based ($7.96). Highest evidence: Growth DCF (72).

Key figures & financial health

Revenue (TTM) $375M
Revenue growth (YoY) +5.3%
Net margin 23.3%
Return on equity 13.6%
Free cash flow $84.3M FY2025
P/E ratio 11.1
More key figures
Operating margin 12.3%
EPS (TTM) $1.38
EPS growth (YoY) -30.8%
Net cash $289M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 75/100

Of which business quality 75 · Market factors (momentum, volatility) 42

Profitability 65
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States, Europe, Asia, and internationally.

Full company description

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States, Europe, Asia, and internationally. It offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures. The company also designs, develops, manufactures, and markets non-invasive medical aesthetic products that target an array of procedures, including permanent hair reduction, facial skin rejuvenation, wrinkle reduction, cellulite treatment, skin appearance and texture, and superficial benign vascular and pigmented lesions. In addition, it offers hands-free medical aesthetic products that target a range of procedures, such as skin tightening, fat reduction, and muscle stimulation. The company sells and markets its products in the United States, Canada, the United Kingdom, Ireland, Spain, Portugal, France, Belgium, Luxemburg, Italy, Germany, Austria, Japan, Australia, and India through distributors. The company was formerly known as Invasix Ltd. and changed its name to InMode Ltd. in November 2017. The company was incorporated in 2008 and is headquartered in Yokne'am, Israel.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

InMode Ltd reported revenue of $370M in FY2025 versus $358M in FY2021, a compound +0.9%/yr. Reported net income was $93.8M in FY2025, compounding −13.2%/yr from FY2021.

Growth Quality 91/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$370M
Latest YoY
−6.2%
Avg. growth/yr (3Y)
−6.6%
Avg. growth/yr (5Y)
+12.4%
Avg. growth/yr (9Y)
+36.1%
Revenue +0.9%/yr
FY21 $358M
FY22 $454M
FY23 $492M
FY24 $395M
FY25 $370M
Net income −13.2%/yr
FY21 $165M
FY22 $162M
FY23 $198M
FY24 $181M
FY25 $93.8M

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Cite: Fair Value Calculator (2026). "InMode Ltd Fair Value". https://www.fairvalue-calculator.com/stock/INMD

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Medical Devices · 351 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 75 · Top 25%
Fair Value upside +81% · Top 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 23% · Top 25%
Operating margin (TTM) 12% · Above median
Revenue growth 5% · Below median

Valuation Multiples vs Medical Devices median · lower = cheaper

P/E (TTM) 11.1× · Cheaper than 75% of peers
P/B 1.29× · Cheaper than median
P/S (TTM) 2.34× · Pricier than median
P/FCF 10.4× · Pricier than median
EV/EBITDA 7.2× · Cheaper than 75% of peers
PEG 2.90× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 0
FUTURE 27 · sector 27
PAST 54 · sector 8
HEALTH 0 · sector 97
DIVIDEND 0 · sector 38

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Devices stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $100.68 $74.79 -26%
Stryker Corporation SYK $316.44 $186.28 -41%
Medtronic plc MDT $83.56 $65.57 -22%
Boston Scientific Corporation BSX $43.04 $38.44 -11%
Edwards Lifesciences Corporation EW $85.73 $41.02 -52%
Siemens Healthineers AG SHL €34.59 €33.87 -2%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥149.43 ¥147.63 -1%
Shanghai United Imaging Healthcare Co 688271 ¥109.00 ¥43.60 -60%
Demant A/S DEMANT kr 276.60 kr 161.17 -42%
Getinge AB GETIB kr 206.80 kr 192.14 -7%

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Frequently asked questions

Is InMode Ltd (INMD) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of $27.75 versus a price of $15.31, about +81% (undervalued).
What is the fair value of INMD?
Our model-based fair value for InMode Ltd is $27.75 (as of Jul 16, 2026), built from audited fundamentals. The current price is $15.31.
What is the quality score of INMD?
InMode Ltd has a Quality Score of 75/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of InMode Ltd (INMD)?
InMode Ltd reported trailing-twelve-month revenue of about $375M (latest available figure, as of Jul 16, 2026).
What is the net profit margin of INMD?
The net profit margin of InMode Ltd is about 23.3%, meaning it keeps roughly 23.3% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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