The paramagnetic response of mixed-valence samarium hexaboride has been studied by inelastic neutron scattering using a low-absorption double-isotope single crystal of ¹⁵⁴Sm¹¹ B₆. Measurements were performed for energy transfers 0<or=h(cross) omega <or=50 meV at temperatures ranging from 2 to 100 K. Two main contributions were observed in the spectra: a broad intermultiplet transition of single-ion type at h(cross) omega approximately=36 meV, and a narrow low-energy excitation centred at h(cross) omega approximately=14 meV, which is strongly anisotropic and temperature dependent and exhibits a weak but visible dispersion. The latter excitation appears to be an inherent feature of the mixed-valence state due to f-electron hybridization effects, which denotes the formation of a local bound state around the Sm sites.