INSM

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Insmed Inc.

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Key Metrics

Previous Close: $130.66
52-Week Range: $90.39 – $212.75
Market Cap: $27.32B
P/E (TTM): —
EPS (TTM): -4.12
Dividend Yield: —

Advanced Metrics

Price/Book: 36.05
PEG Ratio: 1.09
Return on Equity: -87.22%
Return on Assets: -22.17%
Gross Margin: 83.45%
Operating Margin: -23.81%
Profit Margin: -76.94%
Current Ratio: 3.72
Debt/Equity: 0.98
Total Debt: $739.72M
Free Cash Flow: $-571.82M
Revenue Growth: 296.10%
Earnings Growth: —
Enterprise Value: $26.90B

INSM Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$245.36M	$305.21M	$363.71M	$606.42M
Cost of Revenue	$55.13M	$65.57M	$85.74M	$122.94M
Gross Profit	$190.23M	$239.63M	$277.96M	$483.49M
Research & Development	$397.52M	$571.01M	$598.37M	$771.09M
Selling, General & Admin	$265.78M	$344.50M	$461.12M	$701.17M
Operating Expenses	$668.36M	$920.56M	$1.06B	$1.48B
Operating Income	-$478.12M	-$680.93M	-$786.57M	-$994.78M
EBITDA	-$447.37M	-$660.18M	-$818.79M	-$1.18B
Pretax Income	-$480.15M	-$747.01M	-$910.07M	-$1.27B
Income Tax	$1.38M	$2.56M	$3.71M	$5.03M
Net Income	-$481.53M	-$749.57M	-$913.77M	-$1.28B
Diluted EPS	-3.91	-5.34	-5.57	-6.42
Diluted Shares	123.03M	140.43M	164.04M	199.01M

INSM Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$1.07B	$482.37M	$555.03M	$510.44M
Receivables	$29.71M	$41.19M	$52.01M	$140.86M
Inventory	$69.92M	$83.25M	$98.58M	$132.07M
Current Assets	$1.27B	$929.06M	$1.62B	$1.79B
Total Assets	$1.66B	$1.33B	$2.03B	$2.26B
Current Liabilities	$190.24M	$225.63M	$297.53M	$468.87M
Long-Term Debt	$1.13B	$1.16B	$1.10B	$540.96M
Total Debt	$1.18B	$1.20B	$1.15B	$586.67M
Total Liabilities	$1.57B	$1.66B	$1.74B	$1.53B
Retained Earnings	-$2.70B	-$3.45B	-$4.36B	-$5.64B
Shareholders' Equity	$87.95M	-$331.92M	$285.38M	$738.98M
Working Capital	$1.08B	$703.43M	$1.32B	$1.33B
Net Debt	$51.21M	$672.94M	$548.35M	$30.52M

INSM Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$400.44M	-$536.25M	-$683.88M	-$935.01M
Capital Expenditure	-$9.88M	-$13.29M	-$21.92M	-$32.56M
Free Cash Flow	-$410.32M	-$549.53M	-$705.80M	-$967.58M
Depreciation & Amortisation	$10.33M	$10.58M	$11.01M	$16.45M
Stock-Based Compensation	$57.69M	$74.78M	$96.83M	$152.71M
Investing Cash Flow	-$34.58M	-$223.60M	-$583.17M	-$64.58M
Financing Cash Flow	$793.27M	$168.44M	$1.34B	$954.07M
Net Change in Cash	$358.25M	-$591.41M	$73.96M	-$45.52M

INSM Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$92.82M	$107.42M	$142.34M	$263.84M	$305.96M
Cost of Revenue	$21.28M	$28.07M	$29.36M	$44.22M	$47.42M
Gross Profit	$71.55M	$79.34M	$112.98M	$219.62M	$258.54M
Research & Development	$152.58M	$177.19M	$186.41M	$254.91M	$209.49M
Selling, General & Admin	$147.54M	$154.76M	$186.38M	$212.48M	$247.26M
Operating Expenses	$301.38M	$333.22M	$374.33M	$469.33M	$458.82M
Operating Income	-$229.84M	-$253.88M	-$261.35M	-$249.71M	-$200.28M
EBITDA	-$232.78M	-$297.13M	-$345.67M	-$302.15M	-$138.38M
Pretax Income	-$255.67M	-$320.44M	-$368.70M	-$326.93M	-$162.10M
Income Tax	$912.00K	$1.24M	$1.32M	$1.55M	$1.47M
Net Income	-$256.58M	-$321.69M	-$370.02M	-$328.49M	-$163.56M
Diluted EPS	-1.42	-1.70	-1.75	-1.54	-0.76
Diluted Shares	180.86M	189.30M	211.76M	213.64M	215.47M

INSM Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$403.25M	$1.28B	$334.76M	$510.44M	$582.19M
Receivables	$47.75M	$55.03M	$65.26M	$140.86M	$178.56M
Inventory	$100.71M	$107.61M	$120.97M	$132.07M	$132.91M
Current Assets	$1.40B	$2.08B	$1.93B	$1.79B	$1.61B
Total Assets	$1.80B	$2.48B	$2.36B	$2.26B	$2.08B
Current Liabilities	$239.23M	$311.68M	$417.21M	$468.87M	$361.01M
Long-Term Debt	$1.11B	$538.51M	$539.72M	$540.96M	$542.22M
Total Debt	$1.14B	$575.51M	$576.28M	$586.67M	$580.33M
Total Liabilities	$1.70B	$1.23B	$1.42B	$1.53B	$1.37B
Retained Earnings	-$4.62B	-$4.94B	-$5.31B	-$5.64B	-$5.80B
Shareholders' Equity	$99.16M	$1.25B	$945.57M	$738.98M	$704.85M
Working Capital	$1.16B	$1.77B	$1.51B	$1.33B	$1.25B
Net Debt	$701.82M	—	$204.96M	$30.52M	—

INSM Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$262.09M	-$205.57M	-$219.76M	-$247.60M	-$222.74M
Capital Expenditure	-$10.07M	-$3.48M	-$2.42M	-$16.59M	-$3.48M
Free Cash Flow	-$272.16M	-$209.05M	-$222.18M	-$264.19M	-$226.22M
Depreciation & Amortisation	$3.15M	$3.75M	$4.00M	$5.56M	$5.01M
Stock-Based Compensation	$39.26M	$42.98M	$31.43M	$39.04M	$45.75M
Investing Cash Flow	$80.41M	$227.84M	-$762.23M	$389.41M	$265.52M
Financing Cash Flow	$29.00M	$857.81M	$33.41M	$33.86M	$29.51M
Net Change in Cash	-$152.68M	$880.07M	-$948.58M	$175.67M	$72.30M

Market Snapshot

About

Insmed Inc. is a global biopharmaceutical company focused on developing and commercializing therapies for patients with serious rare diseases and unmet medical needs. The company's lead product is approved for treating certain mycobacterial lung infections in adults with limited treatment options. Insmed's pipeline includes therapies targeting rare pulmonary diseases and other conditions affecting small patient populations. The company combines proprietary drug delivery technologies with novel therapeutic approaches to address diseases where current treatments are inadequate or nonexistent.