Inspire Medical Systems vs TransMedics Group
Inspire Medical Systems reported revenue of $912 million in fiscal 2025, 1.5 times TransMedics Group's $606 million in fiscal 2025. Inspire Medical Systems' revenue grew 13.6% in its latest year, and TransMedics Group's grew 37.1%. Inspire Medical Systems had an operating margin of 5.6%, against 17.9% at TransMedics Group. Free cash flow was $78 million at Inspire Medical Systems and $134 million at TransMedics Group.
Side by side
| Inspire Medical Systems | TransMedics Group | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $912M | $606M |
| Revenue growth | 13.6% | 37.1% |
| Revenue growth a year, last 5 years | 51.2% | 88.3% |
| Gross margin | 85.4% | 59.9% |
| Operating margin | 5.6% | 17.9% |
| Net margin | 15.9% | 31.4% |
| Free cash flow | $78M | $134M |
| Free cash flow margin | 8.6% | 22.1% |
| Return on capital | 14.2% | 27.5% |
| Net debt to EBITDA | −4.8x | −0.2x |
| Dividends and buybacks | $175M | $0M |
| Change in diluted share count | −2.6% | 15.1% |
| Last close | $63.98 | $88.24 |
| P/E at the last close | 19.0× | 24.1× |
| Insider trades, last 12 months | sold $665,952 | bought $1.1 million, sold $4.3 million |
| Piotroski F-score | 5 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Inspire Medical SystemsTransMedics Group
Operating margin
Percent of revenue
Inspire Medical SystemsTransMedics Group
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Inspire Medical SystemsTransMedics Group
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Inspire Medical Systems and TransMedics Group pages.