InMode Ltd logo

InMode Ltd(INMD)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$14.26
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for INMD

09/25/2026: INMD (1-star) is currently NOT-A-BUY. Pass it for now.

InMode Ltd is a manufacturer of minimally invasive and non-invasive aesthetic medical platforms, known for its high-margin revenue model driven by RF technology such as Morpheus8. The company has historically maintained a strong position with a debt-free balance sheet and robust cash generation, making it a potentially attractive option for value-oriented investors seeking exposure to medical aesthetics. While the company has seen explosive growth, it currently faces challenges from slowing demand and intense competition, which have introduced volatility. Investors should monitor the company's ability to innovate, manage market saturation, and navigate macroeconomic cycles. Overall, InMode is a focused aesthetic device player suited for those comfortable with sector-specific volatility.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company remains a growth-oriented business but is currently navigating a period of decelerating revenue growth.
Momentum investorWeak fitThe stock lacks strong upward price momentum in the current technical environment.
Value investorStrong fit while signal remains positiveThe company's significant cash position and historically low price-to-earnings ratios may appeal to value-oriented investors.
Dividend investorWeak fitInMode does not pay a dividend and focuses capital on growth and buybacks.
Low-risk investorWeak fitThe stock experiences high beta and price volatility common in small-to-mid-cap aesthetic medical device makers.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe stock is susceptible to significant daily fluctuations driven by sentiment in the aesthetics sector.
Valuation riskMediumWhile trading at lower multiples than in the past, potential for downward valuation re-rating exists if growth continues to slow.
Competition risk (aesthetic device makers)HighNew entrants and established players continuously challenge InMode's Morpheus8 market share.
Business qualityStrongThe company has demonstrated long-term, high-margin, and capital-efficient operations.
Dividend incomeLow / noneInvestors should not expect income from this stock.
Execution riskMediumThe management team must successfully navigate market saturation to maintain current performance levels.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Moderately Choppy
PRICE STABILITY

Moderately Choppy

The stock has experienced noticeable price swings while retaining some directional structure.

Analysis of Past Performance

Type Stock
Historic Profit -47.92%
Avg. Invested days 28
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 1.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
INMD receives a 4-star rating, supported by strong unit economics, and solid company fundamentals. The rating is constrained by weak price momentum.

Company Fundamentals

★★★★★
INMD has solid overall fundamentals (4 stars), with solid financial health, soft growth momentum, and strong ownership. In FY2025 versus FY2024, strong cash generation (FCF margin 22.7%) and strong profitability (net margin 25.3%) are partially offset by negative earnings growth (-48.2%), negative revenue growth (-6.2%).

Financial Health Rating

★★★★★
INMD's financial health is supported by solid liquidity, including working-capital and asset support (WC/assets 81.9%). Overall financial-health metrics support a 4-star score.

Growth Momentum Score

★★★★★
INMD's growth profile is soft, with the least-weak measure being revenue growth at -6.2% FY2025 versus FY2024. By comparison, while earnings growth (-48.2%, negative) and free-cash-flow growth (-36.1%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 56.0% and approximately 85.4% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 13.16% supports management-shareholder alignment.

Top 5 Institutional Investors

Doma Perpetual Capital Management LLC 4.75%
Acadian Asset Management LLC 4.51%
Renaissance Technologies Corp 4.49%
BlackRock Inc 3.92%
MENORA MIVTACHIM HOLDINGS LIMITED 3.55%

Unit Economics (Per $1K Revenue)

★★★★★
INMD generates approximately $785 of gross profit, $230 of operating income, and $227 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 14.95%

Quantitative Style Profile

★★★★★
INMD has a high-quality, liquid profile. Weak momentum is the primary drawback, while elevated volatility.

Style Classification

Quality Focused

Value-OrientedQuality TiltHigh VolatilitySmall / Mid Cap RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 816.55M USD
Price to earnings Ratio 11.73
1Y Target Price 16.17
Price to earnings Ratio 11.73
1Y Target Price 16.17
Volume (30-day avg) 487.1K shares
Beta 1.86
52 Weeks Range 12.72 - 16.74
Updated Date 09/24/2026
52 Weeks Range 12.72 - 16.74
Updated Date 09/24/2026
Dividends yield (FY) -
Basic EPS (TTM) 1.21

How Company Makes Money

Business areaWhat it includesRetail investor read
Equipment SalesSale of BodyTite, FaceTite, and Morpheus8 platforms to plastic surgeons and dermatologists.This is the primary driver of revenue, representing initial capital investment by practitioners.
ConsumablesRecurring sales of single-use tips and applicators used for each patient treatment.This provides the high-margin, recurring revenue tailwind that supports long-term profitability.
GeographySignificant operations and sales presence in the US, Canada, and various international markets.Revenue is heavily geographically diversified, though US sales remain the most critical component.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 11.73
Forward PE 9.99
Enterprise Value 319.89M
Price to Sales(TTM) 2.18
Enterprise Value 319.89M
Price to Sales(TTM) 2.18
Enterprise Value to Revenue 0.85
Enterprise Value to EBITDA 4.58
Shares Outstanding 57.54M
Shares Floating 49.12M
Shares Outstanding 57.54M
Shares Floating 49.12M
Percent Insiders 13.16
Percent Institutions 55.96

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI Summary

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About InMode Ltd

Exchange NASDAQ
Headquarters -
IPO Launch date 2019-08-08
Co-Founder, CEO & Director Mr. Moshe Mizrahy
Sector Healthcare
Industry Medical Devices
Full time employees 660
Full time employees 660

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.