INSP
Inspire Medical Systems, Inc.
INSP has a slight edge over UNH overall, supported by stronger valuation and stronger fundamentals.
UNH
UnitedHealth Group Incorporated
UNH has lower modeled downside risk, despite its lower overall score.
INSP Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Healthy | |
| Healthy | |
| Strong |
INSP's profitability, cash flow and balance sheet are currently healthy, but its revenue is under pressure.
UNH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
UNH's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
INSP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $39.83 | -34% |
| Current | 18x | $60.54 | — |
| Forward | 43x | $60.54 | — |
| Fair | 58x | $194 | +220% |
| Expensive | 173x | $579 | +857% |
Historical ranges are pointers, not guarantees.
INSP has the edge over UNH in the historical PE scenario, which offers more potential upside but is not a forecast.
UNH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $405 | — |
| Cheap | 19x | $325 | -20% |
| Fair | 23x | $410 | +1.2% |
| Current | 23x | $405 | — |
| Expensive | 30x | $526 | +30% |
Historical ranges are pointers, not guarantees.
UNH's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
INSP Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect INSP's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
UNH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| Low |
UNH has the edge over INSP on the outlook, with more favorable valuation expectations.
INSP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.41 | -58% |
| Q3 2026 | $3.35 | +125% |
| Q2 2026 | $4.53 | +159% |
| Q1 2026 | $4.40 | +101% |
| Q4 2025 | $4.89 | +179% |
| Q3 2025 | $1.49 | +37% |
| Q2 2025 | $1.75 | +775% |
| Q1 2025 | $2.19 | +$2.72 |
| Q4 2024 | $1.75 | +$2.47 |
INSP has the edge over UNH on earnings, with more consistent year-over-year improvement.
UNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $22.65 | +29% |
| Q3 2026 | $17.55 | -8.5% |
| Q2 2026 | $15.58 | -33% |
| Q1 2026 | $13.28 | -44% |
| Q4 2025 | $13.23 | -15% |
| Q3 2025 | $19.17 | +25% |
| Q2 2025 | $23.09 | +53% |
| Q1 2025 | $23.89 | +46% |
| Q4 2024 | $15.51 | -35% |
UNH's earnings per share have fallen from their peak: $17.55 over the past year, against $23.89 in early 2025.
INSP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $206.7M | -7.9% |
| Q2 2026 | $200.6M | -7.6% |
| Q1 2026 | $204.6M | +1.6% |
| Q4 2025 | $269.1M | +12% |
| Q3 2025 | $224.5M | +10% |
| Q2 2025 | $217.1M | +11% |
| Q1 2025 | $201.3M | +23% |
| Q4 2024 | $239.7M | +25% |
INSP's revenue has held roughly level: $207M last quarter, down 7.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -14% | -18 points |
| Q2 2026 | -0.3% | +1.3 points |
| Q1 2026 | -0.6% | +0.2 points |
| Q4 2025 | 17% | +3.8 points |
| Q3 2025 | 4.3% | -2.8 points |
| Q2 2025 | -1.5% | -4.1 points |
| Q1 2025 | -0.7% | +8.5 points |
| Q4 2024 | 13% | +8.5 points |
INSP's operating margin was −14% last quarter, down 18 points from the same quarter a year ago.
UNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.7B | -0.4% |
| Q2 2026 | $112B | +0.4% |
| Q1 2026 | $111.7B | +2% |
| Q4 2025 | $113.2B | +12% |
| Q3 2025 | $113.2B | +12% |
| Q2 2025 | $111.6B | +13% |
| Q1 2025 | $109.6B | +9.8% |
| Q4 2024 | $100.8B | +6.8% |
UNH's revenue has held roughly level: $113B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | +2 points |
| Q2 2026 | 7.1% | +2.5 points |
| Q1 2026 | 8.1% | -0.3 points |
| Q4 2025 | 0.3% | -7.4 points |
| Q3 2025 | 3.8% | -4.8 points |
| Q2 2025 | 4.6% | -3.4 points |
| Q1 2025 | 8.3% | +0.4 points |
| Q4 2024 | 7.7% | -0.4 points |
UNH has the edge over INSP on profitability, with a higher operating margin.
INSP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $38.9M | -33% |
| Q2 2026 | $14.1M | +$20.4M |
| Q1 2026 | $3.1M | +$18.2M |
| Q4 2025 | $41.8M | -33% |
| Q3 2025 | $58.1M | +31% |
| Q2 2025 | -$6.3M | +$6.2M |
| Q1 2025 | -$15.1M | -$12.3M |
| Q4 2024 | $62.2M | +573% |
INSP generated $98M in free cash flow over the past year, about the same as the year before.
UNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.3B | -16% |
| Q2 2026 | $10.3B | +63% |
| Q1 2026 | $8.1B | +79% |
| Q4 2025 | $160M | -89% |
| Q3 2025 | $5.1B | -61% |
| Q2 2025 | $6.3B | +6.9% |
| Q1 2025 | $4.6B | +1037% |
| Q4 2024 | $1.5B | +$7.6B |
UNH still generates free cash flow, though less than at its 2022 peak: $22.8B over the past year.
INSP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -11.5K shares |
| 1 year | -2.3% | -671K shares |
| 3 years | -1.5% | -437K shares |
| 5 years | +6% | +1.6M shares |
| Available history | +22% | +5.1M shares |
INSP has the edge over UNH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $50M |
| Q3 2025 | $50M |
| Q2 2025 | — |
| Q1 2025 | $75M |
INSP spent $50M buying back its own shares over the past year.
UNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -4M shares |
| 1 year | -0.7% | -6M shares |
| 3 years | -3.6% | -34M shares |
| 5 years | -5.5% | -53M shares |
| Available history | -6.6% | -64M shares |
UNH has 902M diluted shares, down 0.7% from a year ago, with $5B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.4B |
| Q2 2026 | $1.6B |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.5B |
| Q1 2025 | $3B |
| Q4 2024 | $5B |
UNH spent $5B buying back its own shares over the past year, down 52% from the year before.
INSP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -5.6x | Net Cash |
| Q2 2026 | -1.8x | Net Cash |
| Q1 2026 | -1.5x | Net Cash |
| Q4 2025 | -1.6x | Net Cash |
| Q3 2025 | -2.3x | Net Cash |
| Q2 2025 | -2.1x | Net Cash |
| Q1 2025 | -0.9x | Net Cash |
| Q4 2024 | -3.5x | Net Cash |
INSP has the edge over UNH on leverage, with a lower net debt burden relative to earnings.
UNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
UNH's net debt is about 1.7 years of its operating earnings (EBITDA), about the same as a year ago.
INSP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.7 | Neutral |
| Stochastic | 44.4 | Neutral |
INSP's weekly RSI is 47 (neutral) and its Stochastic is 44 (neutral).
UNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 60.0 | Neutral |
UNH's weekly RSI is 56 (neutral) and its Stochastic is 60 (neutral).
INSP PE vs Healthcare Sector
| Metric | INSP | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 26x | 30% below |
| PE % | 32 | 29 | 3 pts above |
INSP has the edge over UNH on valuation relative to its sector.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH is trading at 23x earnings, a 11% discount to the Healthcare sector's median of 26x.
INSP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $67.7 | 11% below |
| 20 week MA | $62.2 | 2.7% below |
| 50 week MA | $64.8 | 6.5% below |
| 100 week MA | $99.3 | 39% below |
| 200 week MA | $156.2 | 61% below |
INSP is in a downtrend: it's below all five of its weekly moving averages, and 61% below its 200-week average.
UNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $394.2 | 2.8% above |
| 20 week MA | $400.5 | 1.2% above |
| 50 week MA | $361.2 | 12% above |
| 100 week MA | $376.0 | 7.8% above |
| 200 week MA | $446.6 | 9.3% below |
UNH has the edge over INSP on trend strength, trading above more of its moving averages.
INSP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $74.2 | $190.7 | +157% |
| 2021 | $190.7 | $239.2 | +25% |
| 2022 | $239.2 | $257.5 | +7.7% |
| 2023 | $257.5 | $203.4 | -21% |
| 2024 | $203.4 | $188.5 | -7.3% |
| 2025 | $188.5 | $95.5 | -49% |
| 2026 YTD | $95.5 | $60.5 | -37% |
INSP has finished three years in a row lower, and it's down 37% so far in 2026.
UNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $296.0 | $340.8 | +15% |
| 2021 | $340.8 | $495.4 | +45% |
| 2022 | $495.4 | $531.3 | +7.3% |
| 2023 | $531.3 | $526.5 | -0.9% |
| 2024 | $526.5 | $510.0 | -3.1% |
| 2025 | $510.0 | $331.8 | -35% |
| 2026 YTD | $331.8 | $405.1 | +22% |
UNH has the edge over INSP on returns for 2026, with the stronger performance.