INGNNasdaqOrthopedic, Prosthetic & Surgical Appliances & SuppliesFiscal year ends December 31
Inogen Inc
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$6.55+0.30 (+4.80%)
Close on Oct 19, 2026
- Market cap
- $177.15M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
44.2%−0.5 pts over 5 years
Operating margin
-8.7%−4.8 pts over 5 years
Net margin
-6.5%−4.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.9% | -2.6% | +2.5% | +8.2% | |
| Gross profit | -0.3% | +0.2% | +2.2% | +7.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 13.0% | -1.7% | -12.4% | |
| Return on assets | 10.9% | -1.3% | -7.6% | |
| Current ratio | 7.07 | 5.39 | 3.12 | |
| Inventory turnover | 9.2× | 5.6× | 7.7× | |
| Capex to revenue | 0.8% | 1.4% | 0.7% | |
| Diluted shares | 21M | 22M | 27M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Inogen generated $81.53M from operations and spent $19.92M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$81.53M
Used
$19.92M
Capital expenditure$19.92M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-6.5%
×Asset turnover1.17×
×Equity multiplier1.62×
=Return on equity, FY2025-12.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -6.5% | 1.17× | 1.62× | -12.4% |
| FY2024 | -10.7% | 1.08× | 1.64× | -19.0% |
| FY2023 | -32.5% | 0.86× | 1.46× | -40.8% |
| FY2022 | -22.2% | 0.84× | 1.34× | -25.1% |
| FY2021 | -1.8% | 0.75× | 1.32× | -1.8% |
| FY2020 | -1.9% | 0.68× | 1.31× | -1.7% |
| FY2019 | 5.8% | 0.88× | 1.26× | 6.4% |
| FY2018 | 14.5% | 1.10× | 1.21× | 19.3% |
| FY2017 | 8.4% | 1.02× | 1.20× | 10.3% |
| FY2016 | 10.1% | 1.08× | 1.19× | 13.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$22.75M
- Cash generatingOperating cash flow above zero-$11.22M
- Return on assets improvedROA up on the prior year-11.0% → -7.7%
- Earnings backed by cashOperating cash flow above net income-$11.22M vs -$22.75M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.42 → 3.12
- No dilutionShare count did not rise24M → 27M
- Gross margin improvedGross margin up on the prior year46.09% → 44.24%
- More efficientAsset turnover rose1.03 → 1.18