Should you buy InMode stock? (July 2024)
Published first at https://www.3minutebreakdowns.com
InMode stock analysis. Ticker: INMD
Between April 2020 and November 2021, this stock went up 10X but since then shares have crashed back to earth. Inmode, ticker symbol, INMD is a manufacturer of minimally-invasive medical equipment that are used for cosmetic treatments.
At the latest price, Inmode now has a market cap of 1.5 billion dollars. With 770 million of cash and investments on its balance sheet the enterprise value is only 751 million. Meanwhile, revenue over the last 12 months comes to 466 million with 181 million of net income and 179 million of free cash flow. So Inmode stock is now valued at 8 times earnings and only 4 times free cash flow. That is incredibly cheap especially when you consider InMode's history of growth.
This is a company that grew its revenue 73% in 2021 and 27% in 2022. And Inmode’s body contouring and skin tightening products should have a bright future from ageing demographics and the uptake of GLP-1 weight loss drugs. Rapid weight loss, after all, can lead to loose skin which Inmode’s systems hope to resolve.
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