What is Inmode Ltd.'s earnings per share (EPS)?

Inmode Ltd. (INMD) reported diluted earnings per share of $1.43 for fiscal year 2025. This represents a -36.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Inmode Ltd. Financials

INMD

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Inmode Ltd. (INMD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI INMD FY2025 2026-04-22

InMode’s core economics remain unusually rich, but shrinking sales volume is now overwhelming that cushion at the operating line.

The biggest balance-sheet change in FY2025 was not stronger cash generation: cash climbed to $302.5M while free cash flow fell to $84.3M. That gap means liquidity improved because investing cash turned positive, so the cash pile says more about asset movements than about current operating momentum.

Even after revenue pressure, gross margin stayed very high at 78.5%, but operating margin compressed to 23.1%. That pattern points to weaker operating leverage: the product still carries strong unit economics, yet overhead and go-to-market costs are consuming much more of each sale.

The company is still lightly burdened by liabilities, with cash of $302.5M against total liabilities of $83.2M, so it is financing itself from accumulated resources rather than from debt markets. At the same time, heavy repurchases reduced the share count, which cushioned per-share results even as net income weakened; EPS therefore fell less cleanly than the underlying earnings engine.

Financial Health Signals

Financial Profile 74/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Inmode Ltd.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Inmode Ltd. has an operating margin of 23.1%, meaning the company retains $23 of operating profit per $100 of revenue. This strong profitability earns a score of 85/100, reflecting efficient cost management and pricing power. This is down from 28.5% the prior year.

Growth

Inmode Ltd.'s revenue declined 6.2% year-over-year, from $394.8M to $370.5M. This contraction results in a growth score of 11/100.

Leverage

100

Inmode Ltd. carries a low D/E ratio of 0.12, meaning only $0.12 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 9.88, Inmode Ltd. holds $9.88 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

Inmode Ltd. converts 22.8% of revenue into free cash flow ($84.3M). This strong cash generation earns a score of 96/100.

Returns

Inmode Ltd.'s ROE of 13.7% shows moderate profitability relative to equity, earning a score of 55/100. This is down from 25.8% the prior year.

Altman Z-Score Safe

9.71

Inmode Ltd. scores 9.71, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($846.5M) relative to total liabilities ($83.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Weak

3/9

Inmode Ltd. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

0.91x

For every $1 of reported earnings, Inmode Ltd. generates $0.91 in operating cash flow ($85.3M OCF vs $93.8M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$370.5M

YoY-6.2%

5Y CAGR+12.4%

Inmode Ltd. generated $370.5M in revenue in fiscal year 2025. This represents a decrease of 6.2% from the prior year.

EBITDA

$86.1M

YoY-24.0%

5Y CAGR+3.3%

Inmode Ltd.'s EBITDA was $86.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 24.0% from the prior year.

Net Income

$93.8M

YoY-48.2%

5Y CAGR+4.6%

Inmode Ltd. reported $93.8M in net income in fiscal year 2025. This represents a decrease of 48.2% from the prior year.

EPS (Diluted)

$1.43

YoY-36.4%

5Y CAGR+9.9%

Inmode Ltd. earned $1.43 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 36.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$84.3M

YoY-36.1%

5Y CAGR+1.4%

Inmode Ltd. generated $84.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 36.1% from the prior year.

Cash & Debt

$302.5M

YoY+94.8%

5Y CAGR+34.4%

Inmode Ltd. held $302.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

63M

YoY-8.9%

5Y CAGR+10.9%

Inmode Ltd. had 63M shares outstanding in fiscal year 2025. This represents a decrease of 8.9% from the prior year.

Margins & Returns

Gross Margin

78.5%

YoY-1.8pp

5Y CAGR-6.5pp

Inmode Ltd.'s gross margin was 78.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.8 percentage points from the prior year.

Operating Margin

23.1%

YoY-5.4pp

5Y CAGR-12.3pp

Inmode Ltd.'s operating margin was 23.1% in fiscal year 2025, reflecting core business profitability. This is down 5.4 percentage points from the prior year.

Net Margin

25.3%

YoY-20.6pp

5Y CAGR-11.1pp

Inmode Ltd.'s net profit margin was 25.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 20.6 percentage points from the prior year.

Return on Equity

13.7%

YoY-12.0pp

5Y CAGR-15.8pp

Inmode Ltd.'s ROE was 13.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 12.0 percentage points from the prior year.

Capital Allocation

R&D Spending

$13.3M

YoY+1.4%

5Y CAGR+7.1%

Inmode Ltd. invested $13.3M in research and development in fiscal year 2025. This represents an increase of 1.4% from the prior year.

Share Buybacks

$127.4M

YoY-55.3%

5Y CAGR+49.2%

Inmode Ltd. spent $127.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 55.3% from the prior year.

Capital Expenditures

$972K

YoY+45.3%

5Y CAGR+16.0%

Inmode Ltd. invested $972K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 45.3% from the prior year.

INMD Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$370.5M-6.2%	$394.8M-19.8%	$492.0M+8.3%	$454.3M+27.0%	$357.6M+73.5%	$206.1M
Cost of Revenue	$79.5M+2.3%	$77.8M-3.7%	$80.7M+9.8%	$73.5M+37.1%	$53.6M+73.7%	$30.8M
Gross Profit	$291.0M-8.2%	$317.1M-22.9%	$411.3M+8.0%	$380.8M+25.3%	$304.0M+73.4%	$175.3M
R&D Expenses	$13.3M+1.4%	$13.1M-2.0%	$13.4M+7.9%	$12.4M+30.4%	$9.5M+0.7%	$9.5M
SG&A Expenses	$11.7M+16.5%	$10.0M+8.7%	$9.2M-7.1%	$9.9M+18.1%	$8.4M+31.1%	$6.4M
Operating Income	$85.4M-24.1%	$112.5M-42.5%	$195.7M-1.1%	$197.9M+18.1%	$167.5M+129.9%	$72.8M
Interest Expense	N/A	N/A	$4.7M+289.6%	$1.2M+198.9%	-$1.2M	N/A
Income Tax	$16.5M+143.6%	-$37.8M-295.4%	$19.3M-51.6%	$39.9M+1264.3%	$2.9M+164.5%	$1.1M
Net Income	$93.8M-48.2%	$181.3M-8.4%	$197.9M+22.5%	$161.5M-2.1%	$165.0M+119.9%	$75.0M
EPS (Diluted)	$1.43-36.4%	$2.25-2.2%	$2.30+21.7%	$1.89-1.6%	$1.92+115.7%	$0.89

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

INMD Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$766.4M-2.4%	$785.7M-9.0%	$863.3M+34.0%	$644.4M+34.7%	$478.5M+61.8%	$295.8M
Current Assets	$698.6M-2.2%	$714.5M-15.5%	$845.3M+34.3%	$629.4M+33.9%	$470.1M+62.3%	$289.6M
Cash & Equivalents	$302.5M+94.8%	$155.3M+7.6%	$144.4M+48.1%	$97.5M+43.2%	$68.1M-1.2%	$68.9M
Inventory	$74.0M+24.4%	$59.5M+32.1%	$45.1M+13.0%	$39.9M+89.8%	$21.0M+40.3%	$15.0M
Accounts Receivable	$43.5M+19.7%	$36.3M-14.2%	$42.4M+56.9%	$27.0M+33.4%	$20.2M+92.7%	$10.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$83.2M+1.7%	$81.9M+7.8%	$75.9M-15.5%	$89.8M+43.1%	$62.7M+55.7%	$40.3M
Current Liabilities	$70.7M+1.3%	$69.9M+8.9%	$64.1M-21.8%	$82.0M+58.2%	$51.9M+48.0%	$35.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$683.2M-2.9%	$703.8M-10.6%	$787.4M+42.0%	$554.6M+33.4%	$415.8M+63.7%	$254.0M
Retained Earnings	$968.5M+10.7%	$874.7M+26.1%	$693.4M+39.9%	$495.5M+48.4%	$334.0M+97.6%	$169.0M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$766.4M-2.4%	$785.7M-9.0%	$863.3M+34.0%	$644.4M+34.7%	$478.5M+61.8%	$295.8M+35.4%	$218.4M+169.4%	$81.1M
Current Assets	$698.6M-2.2%	$714.5M-15.5%	$845.3M+34.3%	$629.4M+33.9%	$470.1M+62.3%	$289.6M+35.8%	$213.2M+174.2%	$77.8M
Cash & Equivalents	$302.5M+94.8%	$155.3M+7.6%	$144.4M+48.1%	$97.5M+43.2%	$68.1M-1.2%	$68.9M+54.1%	$44.7M+80.9%	$24.7M
Inventory	$74.0M+24.4%	$59.5M+32.1%	$45.1M+13.0%	$39.9M+89.8%	$21.0M+40.3%	$15.0M+59.3%	$9.4M+35.1%	$7.0M
Accounts Receivable	$43.5M+19.7%	$36.3M-14.2%	$42.4M+56.9%	$27.0M+33.4%	$20.2M+92.7%	$10.5M+58.4%	$6.6M-5.4%	$7.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$83.2M+1.7%	$81.9M+7.8%	$75.9M-15.5%	$89.8M+43.1%	$62.7M+55.7%	$40.3M+4.4%	$38.6M+12.8%	$34.2M
Current Liabilities	$70.7M+1.3%	$69.9M+8.9%	$64.1M-21.8%	$82.0M+58.2%	$51.9M+48.0%	$35.0M+7.8%	$32.5M+10.4%	$29.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$683.2M-2.9%	$703.8M-10.6%	$787.4M+42.0%	$554.6M+33.4%	$415.8M+63.7%	$254.0M+44.2%	$176.1M+307.0%	$43.3M
Retained Earnings	$968.5M+10.7%	$874.7M+26.1%	$693.4M+39.9%	$495.5M+48.4%	$334.0M+97.6%	$169.0M+79.8%	$94.0M+185.1%	$33.0M

INMD Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$85.3M-35.7%	$132.7M-25.0%	$176.8M-2.6%	$181.6M+3.8%	$174.9M+120.7%	$79.2M
Capital Expenditures	$972K+45.3%	$669K-5.1%	$705K-55.2%	$1.6M+67.7%	$939K+102.8%	$463K
Free Cash Flow	$84.3M-36.1%	$132.0M-25.1%	$176.1M-2.2%	$180.0M+3.5%	$173.9M+120.9%	$78.8M
Investing Cash Flow	$186.0M+14.7%	$162.2M+219.2%	-$136.1M-24.3%	-$109.5M+31.6%	-$160.1M-269.7%	-$43.3M
Financing Cash Flow	-$126.1M+55.4%	-$282.8M-5237.6%	$5.5M+113.4%	-$41.1M-173.5%	-$15.0M-20.7%	-$12.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$127.4M-55.3%	$285.4M	$0-100.0%	$42.6M+20.6%	$35.4M+105.4%	$17.2M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

INMD Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	78.5%-1.8pp	80.3%-3.3pp	83.6%-0.2pp	83.8%-1.2pp	85.0%-0.0pp	85.0%
Operating Margin	23.1%-5.4pp	28.5%-11.3pp	39.8%-3.8pp	43.5%-3.3pp	46.8%+11.5pp	35.3%
Net Margin	25.3%-20.6pp	45.9%+5.7pp	40.2%+4.7pp	35.6%-10.6pp	46.1%+9.7pp	36.4%
Return on Equity	13.7%-12.0pp	25.8%+0.6pp	25.1%-4.0pp	29.1%-10.6pp	39.7%+10.1pp	29.5%
Return on Assets	12.2%-10.8pp	23.1%+0.1pp	22.9%-2.1pp	25.1%-9.4pp	34.5%+9.1pp	25.4%
Current Ratio	9.88-0.4	10.23-3.0	13.18+5.5	7.67-1.4	9.07+0.8	8.27
Debt-to-Equity	0.120.0	0.12+0.0	0.10-0.1	0.16+0.0	0.150.0	0.16
FCF Margin	22.8%-10.7pp	33.4%-2.4pp	35.8%-3.8pp	39.6%-9.0pp	48.6%+10.4pp	38.2%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	9.88-0.4	10.23-3.0	13.18+5.5	7.67-1.4	9.07+0.8	8.27+1.7	6.56+3.9	2.64
Debt-to-Equity	0.120.0	0.12+0.0	0.10-0.1	0.16+0.0	0.150.0	0.16-0.1	0.22-0.6	0.79
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Inmode Ltd.'s annual revenue?

Inmode Ltd. (INMD) reported $370.5M in total revenue for fiscal year 2025. This represents a -6.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Inmode Ltd.'s revenue growing?

Inmode Ltd. (INMD) revenue declined by 6.2% year-over-year, from $394.8M to $370.5M in fiscal year 2025.

Is Inmode Ltd. profitable?

Yes, Inmode Ltd. (INMD) reported a net income of $93.8M in fiscal year 2025, with a net profit margin of 25.3%.

What is Inmode Ltd.'s EBITDA?

Inmode Ltd. (INMD) had EBITDA of $86.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Inmode Ltd.'s gross margin?

Inmode Ltd. (INMD) had a gross margin of 78.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Inmode Ltd.'s operating margin?

Inmode Ltd. (INMD) had an operating margin of 23.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Inmode Ltd.'s net profit margin?

Inmode Ltd. (INMD) had a net profit margin of 25.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Inmode Ltd.'s return on equity (ROE)?

Inmode Ltd. (INMD) has a return on equity of 13.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Inmode Ltd.'s free cash flow?

Inmode Ltd. (INMD) generated $84.3M in free cash flow during fiscal year 2025. This represents a -36.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Inmode Ltd.'s operating cash flow?

Inmode Ltd. (INMD) generated $85.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Inmode Ltd.'s total assets?

Inmode Ltd. (INMD) had $766.4M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Inmode Ltd.'s capital expenditures?

Inmode Ltd. (INMD) invested $972K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Inmode Ltd. spend on research and development?

Inmode Ltd. (INMD) invested $13.3M in research and development during fiscal year 2025.

Does Inmode Ltd. buy back shares?

Yes, Inmode Ltd. (INMD) spent $127.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Inmode Ltd. have outstanding?

Inmode Ltd. (INMD) had 63M shares outstanding as of fiscal year 2025.

What is Inmode Ltd.'s current ratio?

Inmode Ltd. (INMD) had a current ratio of 9.88 as of fiscal year 2025, which is generally considered healthy.

What is Inmode Ltd.'s debt-to-equity ratio?

Inmode Ltd. (INMD) had a debt-to-equity ratio of 0.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Inmode Ltd.'s return on assets (ROA)?

Inmode Ltd. (INMD) had a return on assets of 12.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Inmode Ltd.'s Altman Z-Score?

Inmode Ltd. (INMD) has an Altman Z-Score of 9.71, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Inmode Ltd.'s Piotroski F-Score?

Inmode Ltd. (INMD) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Inmode Ltd.'s earnings high quality?

Inmode Ltd. (INMD) has an earnings quality ratio of 0.91x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Inmode Ltd.?

Inmode Ltd. (INMD) scores 74 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.