InMode Ltd. (INMD) intrinsic value & 10-year financials
InMode Ltd. (INMD) has a Graham intrinsic value of $47.50 per share. At $13.62 on Oct 27, 2026, the stock trades 71% below that value. Over the last 10 fiscal years revenue grew 27.4% a year to $370.5M, with an average return on invested capital of 42.7%.
- Graham intrinsic value
- $47.50
- Share price (Oct 27, 2026)
- $13.62
- Price vs Graham value
- 71% below
- Market cap
- $891.4M
- Revenue (FY2025)
- $370.5M
- Revenue growth (10-yr CAGR)
- 27.4%
- ROIC (10-yr avg)
- 42.7%
- Free cash flow (FY2025)
- $84.3M
INMD 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $370.5M | $93.8M | $1.43 | $84.3M | 23.0% | 15.5% |
| FY2024 | $394.8M | $181.3M | $2.25 | $132.0M | 28.5% | 18.7% |
| FY2023 | $492.0M | $197.9M | $2.30 | $176.1M | 39.8% | 32.1% |
| FY2022 | $454.3M | $161.5M | $1.89 | $180.0M | 43.6% | 39.1% |
| FY2021 | $357.6M | $165.0M | $1.92 | $173.9M | 46.8% | 61.4% |
| FY2020 | $206.1M | $75.0M | $0.89 | $78.8M | 35.3% | 45.2% |
| FY2019 | $156.4M | $61.1M | $0.80 | $61.5M | 38.1% | 44.5% |
| FY2018 | $100.2M | $22.4M | $0.31 | $36.5M | 23.5% | 70.9% |
| FY2017 | $53.5M | $8.8M | $0.13 | $14.4M | 16.7% | 56.8% |
| FY2016 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
InMode Ltd. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
InMode Ltd. has earned high returns on invested capital, averaging 36.6% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
InMode Ltd. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, InMode Ltd. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $47.50 per share.