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Inogen Valuation Multiples

Discover revenue and EBITDA valuation multiples for Inogen and similar public comparables like Myomo, InfuSystem, and SmartVest.

Inogen Overview

About Inogen

Inogen Inc is a medical technology company that develops and manufactures portable oxygen concentrators used to deliver oxygen therapy to patients with chronic respiratory conditions. Its key product, the Inogen One system, is a lightweight alternative to traditional, stationary oxygen concentrator systems and oxygen tanks. The firm sells its products to home medical equipment providers and also rents products directly to patients. Internationally, It sells its products through distributors large gas companies, and home oxygen providers. It generates the majority of its revenue in the United States.


Founded

2001

HQ

United States of America
Employees

766

Website

inogen.com

Financials

LTM Revenue $341M

LTM EBITDA -$7.9M

EV

$102M

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Inogen Financials

Inogen has a last 12-month revenue of $341M and a last 12-month EBITDA of -$7.9M.

In the most recent fiscal year, Inogen achieved revenue of $336M and an EBITDA of -$21.5M.

Inogen expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Inogen P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $316M $336M XXX XXX XXX
Gross Profit $154M $127M XXX XXX XXX
Gross Margin 49% 38% XXX XXX XXX
EBITDA -$58.3M -$21.5M XXX XXX XXX
EBITDA Margin -18% -6% XXX XXX XXX
Net Profit -$83.8M -$102M XXX XXX XXX
Net Margin -27% -31% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Inogen Stock Performance

As of April 15, 2025, Inogen's stock price is $7.

Inogen has current market cap of $197M, and EV of $102M.

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Inogen Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$102M $197M XXX XXX XXX XXX $-1.48

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Inogen Valuation Multiples

As of April 15, 2025, Inogen has market cap of $197M and EV of $102M.

Inogen's trades at 0.3x LTM EV/Revenue multiple, and -12.9x LTM EBITDA.

Analysts estimate Inogen's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Inogen Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $102M XXX XXX XXX
EV/Revenue 0.3x XXX XXX XXX
EV/EBITDA -4.8x XXX XXX XXX
P/E -5.5x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -9.2x XXX XXX XXX

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Inogen Valuation Multiples

Inogen's NTM/LTM revenue growth is 5%

Inogen's revenue per employee for the last fiscal year averaged $0.4M, while opex per employee averaged $0.3M for the same period.

Over next 12 months, Inogen's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Inogen's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Inogen Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 6% XXX XXX XXX XXX
EBITDA Margin -6% XXX XXX XXX XXX
EBITDA Growth -63% XXX XXX XXX XXX
Rule of 40 (SaaS-only) -1% XXX XXX XXX XXX
Revenue per Employee $0.4M XXX XXX XXX XXX
Opex per Employee $0.3M XXX XXX XXX XXX
S&M Expenses to Revenue 31% XXX XXX XXX XXX
G&A Expenses to Revenue 22% XXX XXX XXX XXX
R&D Expenses to Revenue 6% XXX XXX XXX XXX
Opex to Revenue 59% XXX XXX XXX XXX

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Inogen Public Comps

See public comps and valuation multiples for Medical Devices comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Philips XXX XXX XXX XXX XXX XXX
Perspective Therapeutics XXX XXX XXX XXX XXX XXX
SmartVest XXX XXX XXX XXX XXX XXX
InfuSystem XXX XXX XXX XXX XXX XXX
Myomo XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Inogen M&A and Investment Activity

Inogen acquired  XXX companies to date.

Last acquisition by Inogen was  XXXXXXXX, XXXXX XXXXX XXXXXX . Inogen acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Inogen

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Inogen

When was Inogen founded? Inogen was founded in 2001.
Where is Inogen headquartered? Inogen is headquartered in United States of America.
How many employees does Inogen have? As of today, Inogen has 766 employees.
Who is the CEO of Inogen? Inogen's CEO is Mr. Kevin R. M. Smith.
Is Inogen publicy listed? Yes, Inogen is a public company listed on NAS.
What is the stock symbol of Inogen? Inogen trades under INGN ticker.
When did Inogen go public? Inogen went public in 2014.
Who are competitors of Inogen? Similar companies to Inogen include e.g. Philips, Perspective Therapeutics, SmartVest, InfuSystem.
What is the current market cap of Inogen? Inogen's current market cap is $197M
What is the current revenue of Inogen? Inogen's last 12-month revenue is $341M.
What is the current EBITDA of Inogen? Inogen's last 12-month EBITDA is -$7.9M.
What is the current EV/Revenue multiple of Inogen? Current revenue multiple of Inogen is 0.3x.
What is the current EV/EBITDA multiple of Inogen? Current EBITDA multiple of Inogen is -12.9x.
What is the current revenue growth of Inogen? Inogen revenue growth between 2023 and 2024 was 6%.
Is Inogen profitable? Yes, Inogen is EBITDA-positive (as of the last 12 months).

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