Growth & profitability
- Revenue has grown 1.1% per year over the past 5 years.
- Operating margin has contracted, at -10.2% in the latest year.
Financial health
- Total debt has grown slower than revenue (-82.8% vs 1.1% per year).
INGN Financials Inogen Inc
15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $295M | $23M | 52.2% | -10.2% | 11.8% | 7.6% | -$14M | — | $104M |
| 2024 | $279M | $36M | 55.5% | -15.3% | 20.6% | 12.1% | $3M | — | $114M |
| 2023 | $252M | $102M | 50.4% | -43.5% | 50.0% | 31.4% | -$8M | — | $125M |
| 2022 | $321M | $84M | 47.9% | -26.6% | 28.2% | 20.7% | -$41M | — | $187M |
| 2021 | $312M | $6M | 56.6% | 3.0% | 1.7% | 1.3% | $18M | — | $236M |
| 2020 | $280M | -$6M | 49.3% | -4.3% | -1.7% | -1.3% | $33M | — | $212M |
| 2019 | $341M | $21M | 50.5% | 5.8% | 6.1% | 4.7% | $37M | — | $198M |
| 2018 | $336M | $52M | 53.1% | 11.3% | 16.7% | 13.8% | $52M | — | $197M |
| 2017 | $225M | $21M | 53.8% | 12.2% | 9.3% | 7.6% | $58M | — | $143M |
| 2016 | $168M | $21M | 57.9% | 13.6% | 11.3% | 9.6% | $29M | — | $93M |
| 2015 | — | $12M | — | — | 8.6% | 7.2% | — | $315000 | $66M |
| 2014 | — | $7M | — | — | 5.8% | 4.9% | — | $614000 | $57M |
| 2013 | — | $25M | — | — | -40.8% | 30.9% | — | $11M | $14M |
| 2012 | — | $564000 | — | — | -0.7% | — | — | — | $15M |
| 2009 | — | $3M | — | — | — | — | — | — | — |
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Mar '26 | $72M | -$8M | 52.3% | -12.9% | -4.6% | -2.9% | -$7M | — | $93M |
| Dec '25 | $69M | -$7M | 51.4% | -13.6% | -3.7% | -2.4% | -$2M | — | $104M |
| Sep '25 | $79M | -$5M | 52.2% | -9.0% | -2.7% | -1.7% | $2M | — | $106M |
| Jun '25 | $79M | -$4M | 52.2% | -7.7% | -2.1% | -1.3% | $4M | — | $104M |
| Mar '25 | $68M | -$6M | 53.1% | -11.2% | -3.1% | -2.0% | -$17M | — | $119M |
| Dec '24 | $66M | -$10M | 54.7% | -17.2% | -5.6% | -3.3% | -$3M | — | $114M |
| Sep '24 | $75M | -$6M | 55.2% | -10.4% | -3.2% | -1.9% | $5M | — | $106M |
| Jun '24 | $74M | -$6M | 57.4% | -9.5% | -3.0% | -1.8% | $7M | — | $98M |
| Mar '24 | $63M | -$15M | 54.5% | -25.8% | -7.6% | -4.6% | -$6M | — | $107M |
| Dec '23 | $59M | -$27M | 47.4% | -48.8% | -13.0% | -8.1% | -$5M | — | $125M |
| Sep '23 | $68M | -$46M | 49.7% | -68.7% | -19.8% | -13.3% | $1M | — | $125M |
| Jun '23 | $68M | -$10M | 49.8% | -17.2% | -3.6% | -2.6% | $2M | — | $168M |
| Mar '23 | $56M | -$20M | 55.0% | -39.2% | -7.2% | -5.3% | -$7M | — | $164M |
| Dec '22 | $73M | -$57M | 40.3% | -79.9% | -19.0% | -14.0% | -$16M | — | $187M |
| Sep '22 | $91M | -$10M | 47.2% | -11.4% | -2.7% | -2.0% | -$10M | — | $210M |
| Jun '22 | $89M | -$3M | 51.8% | -3.2% | -1.0% | -0.7% | $5M | — | $224M |
| Mar '22 | $67M | -$14M | 51.9% | -20.2% | -4.0% | -3.0% | -$19M | — | $213M |
| Dec '21 | $63M | -$23M | 60.9% | -10.5% | -6.2% | -4.7% | $6M | — | $236M |
| Sep '21 | $81M | $12M | 58.9% | 7.9% | 3.1% | 2.4% | -$4M | — | $242M |
| Jun '21 | $90M | $5M | 55.7% | 12.9% | 1.4% | 1.0% | $15M | — | $239M |
Valuation over time
How the market has priced INGN against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has risen from 4.0× (Mar '23) to 6.3× (Sep '26).
- The price-to-sales ratio has fallen from 1.0× (Mar '23) to 0.5× (Sep '26).
P/E
P/S
Frequently asked questions
Is INGN growing its revenue and profit?
Over the past 5 years, Inogen Inc's revenue has grown 1.1% per year. These are computed facts, not advice.
How much debt does INGN have?
As of FY2025, Inogen Inc reported — of total debt against $104M of cash.
What is INGN's profit margin?
In FY2025, gross margin was 52.2%, operating margin -10.2%, and net margin 7.7%.
What is INGN's P/E ratio?
As of Sep '26, Inogen Inc traded at a price-to-earnings ratio of about 6.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.