Saturday 17 October 2026 Export INSM’s income statement to Excel — free account

Insmed, Inc.

Insmed, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $606.4 million, up 66.7% from fiscal 2024. In the quarter to June 2026, revenue grew 296.1%, EPS grew 96.5%, free cash flow grew 54.5% and total debt was flat, each against the same quarter a year earlier. Revenue growth for five consecutive years.

96.27 2.94 −2.96%

Follow INSM

Alert me

Market cap: $21.7B
P/E: 0.0×
Fwd P/E: −35.2×
Dividend yield: —
F-score: 4/9
Altman Z: 9.29
Beneish M: −1.90
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 167.12

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	6	4	10	9	3	3	9	8	3	3	1	—

Insider Ownership 1.01%

Capital & Financial Ratios $m

Market Cap 21,670.00

Revenue 1,137.64

Net Income (875.31)

Free Cash Flow (807.67)

Net Debt (597.91)

Current Ratio 3.72

Debt/Equity 0.74

P/E ratio 0.00

Fwd P/E (35.20)

P/S ratio 18.39

P/B ratio 27.62

Past 5Y EPS Growth —

This Y EPS Growth 75.05%

Next Y EPS Growth 149.92%

Next Y revenue growth 197.15%

Next 5Y EPS Growth 60.45%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 48.68%

10-year low 10-year high

P/B against its own 10 years 76.71%

10-year low 10-year high

EV/Sales against its own 10 years 52.16%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	780	1,434	1,430	1,160
Receivables	41	52	141	215
Inventory	83	99	132	142
Other	—	—	—	—
	929	1,622	1,794	1,634

	2023	2024	2025	Q'26
Payables	215	285	456	429
ST’ Debt	—	—	—	—
Other	—	—	—	—
	226	298	469	439

Compound Annual Growth %

	10y	5y	3y
Sales	—	29.83%	35.20%
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	9.02%	21.78%	103.30%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	306	425	—	—	—
’25	93	107	142	264	606
’24	76	90	93	104	364
’23	65	77	79	84	305
’22	53	65	68	59	245
’21	40	45	47	56	188
’20	37	42	44	41	164

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(223)	(89)	—	—	—
’25	(262)	(206)	(220)	(248)	(935)
’24	(184)	(123)	(181)	(196)	(684)
’23	(146)	(123)	(136)	(131)	(536)
’22	(105)	(102)	(90)	(103)	(400)
’21	(128)	(75)	(75)	(84)	(363)
’20	(58)	(36)	(59)	(67)	(219)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(226)	(95)	—	—	—
’25	(272)	(209)	(222)	(264)	(968)
’24	(189)	(130)	(185)	(203)	(706)
’23	(150)	(128)	(139)	(133)	(550)
’22	(107)	(105)	(90)	(108)	(410)
’21	(129)	(79)	(77)	(85)	(371)
’20	(61)	(38)	(59)	(68)	(226)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.76)	(0.06)	—	—	—
’25	(1.42)	(1.70)	(1.75)	(1.54)	(6.42)
’24	(1.06)	(1.94)	(1.27)	(1.32)	(5.57)
’23	(1.17)	(1.78)	(1.11)	(1.28)	(5.34)
’22	(0.80)	(0.80)	(1.09)	(1.21)	(3.91)
’21	(0.89)	(1.07)	(0.96)	(0.95)	(3.88)
’20	(0.74)	(0.64)	(0.63)	(1.00)	(3.01)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	9.02	11.49	11.31	12.85	12.09	22.00	16.41	16.04	21.92	60.40	Analyst estimates 2026–2028 Powerpack
	High	18.60	32.94	33.94	33.13	42.71	45.44	28.94	32.00	80.53	212.75
People
People	Employees	161	214	373	435	521	613	736	912	1,271	1,664
	Revenue/emp, $m	0.00	0.00	0.03	0.31	0.32	0.31	0.33	0.33	0.29	0.36
Income, $m
Income, $m	Revenue	—	—	10	136	164	188	245	305	364	606
	Gross margin, %	0.00	0.00	75.36	82.26	75.75	76.57	77.53	78.52	76.43	79.73
	EBT	(176)	(193)	(324)	(254)	(293)	(436)	(480)	(747)	(910)	(1,272)
	EBT margin, %	0.00	0.00	(3,295.13)	(185.80)	(178.02)	(231.57)	(195.69)	(244.76)	(250.22)	(209.71)
	Net income	(176)	(193)	(324)	(254)	(294)	(435)	(482)	(750)	(914)	(1,277)
	Depreciation	3	4	22	30	36	46	16	21	21	25
Per share, $
Per share, $	Revenue	0.00	0.00	0.13	1.61	1.68	1.68	1.99	2.17	2.22	3.05
	Earnings	(2.85)	(2.89)	(4.22)	(3.01)	(3.01)	(3.88)	(3.91)	(5.34)	(5.57)	(6.42)
	Cash flow	(2.37)	(2.40)	(3.36)	(2.96)	(2.25)	(3.24)	(3.25)	(3.82)	(4.17)	(4.70)
	Capex	(0.07)	(0.05)	(0.19)	(0.50)	(0.07)	(0.06)	(0.08)	(0.09)	(0.13)	(0.16)
	Free cash flow	(2.44)	(2.44)	(3.55)	(3.46)	(2.32)	(3.31)	(3.33)	(3.91)	(4.30)	(4.86)
	Book value	2.50	5.42	2.71	3.09	2.83	3.66	0.71	(2.36)	1.74	3.71
	Shares, m	62	67	77	85	98	112	123	140	164	199
Valuation, ×
Valuation, ×	P/E	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	—	—	0.00	14.80	19.76	16.20	9.62	13.78	31.14	57.12
	P/B	—	—	4.84	7.72	11.78	7.44	26.83	0.00	39.69	46.87
	EV/Sales	—	—	0.00	13.92	18.86	15.54	9.69	15.13	30.91	56.05
	EV/FCF	—	—	(3.09)	(6.49)	(13.74)	(7.90)	(5.79)	(8.40)	(15.93)	(35.13)
Cash, $m
Cash, $m	Operating cash flow	(147)	(160)	(258)	(251)	(219)	(363)	(400)	(536)	(684)	(935)
	Capex	(4)	(3)	(15)	(42)	(7)	(7)	(10)	(13)	(22)	(33)
	Free cash flow	(151)	(163)	(273)	(293)	(226)	(371)	(410)	(550)	(706)	(968)
Balance, $m
Balance, $m	Working capital	140	345	439	470	504	702	1,083	703	1,324	1,325
	Total debt	55	56	317	355	371	581	1,155	1,182	1,127	562
	Net debt	(108)	(326)	(179)	(132)	(162)	(136)	7	402	(306)	(868)
	Shareholders’ equity	154	361	208	262	276	410	88	(332)	285	739
Returns, %
Returns, %	ROA	(59.30)	(55.04)	(60.81)	(37.77)	(38.23)	(42.62)	(33.21)	(50.20)	(54.47)	(59.53)
	ROIC	(232.15)	(332.97)	(645.62)	(113.35)	(145.21)	(85.44)	(302.28)	(633.88)	0.00	0.00
	ROE	(75.62)	(74.74)	(113.92)	(108.24)	(109.42)	(126.66)	(193.22)	614.47	3,926.49	(249.28)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ALNY Alnylam Pharmaceuticals, Inc.	$31.3B	39.5×	39.6×	+66.86% (above 0%: growing)	n/m	+152.82% (above 0%: growing)	76.88%	17.93%	Compare
ROIV Roivant Sciences Ltd.	$24.6B	— (loss-making)	— (loss-making)	−33.55% (below 0%: shrinking)	n/m	−29.99% (below 0%: shrinking)	80.31%	(25,380.93%)	Compare
INCY Incyte Corporation	$23.0B	13.9×	15.6×	+37.72% (above 0%: growing)	+39.71% (above 0%: growing)	+1,829.52% (above 0%: growing)	93.73%	41.69%	Compare
BNTX BioNTech SE Sponsored ADR	$22.7B	— (loss-making)	— (loss-making)	−58.53% (below 0%: shrinking)	n/m	−342.04% (below 0%: shrinking)	8.14%	(897.82%)	Compare
GMAB Genmab A/S Sponsored ADR	$22.6B	29.1×	21.0×	+24.86% (above 0%: growing)	−9.26% (below 0%: shrinking)	−7.69% (below 0%: shrinking)	92.73%	32.47%	Compare
INSM Insmed, Inc.	$21.7B	— (loss-making)	— (loss-making)	+296.11% (above 0%: growing)	n/m	+54.52% (above 0%: growing)	84.20%	(0.36%)
EXEL Exelixis, Inc.	$15.6B	18.8×	16.7×	+10.63% (above 0%: growing)	+25.00% (above 0%: growing)	+557.25% (above 0%: growing)	96.71%	39.51%	Compare
ASND Ascendis Pharma A/S	$14.9B	16.3×	13.0×	+119.88% (above 0%: growing)	n/m	+2,335.93% (above 0%: growing)	91.85%	64.98%	Compare
JAZZ Jazz Pharmaceuticals PLC	$13.9B	13.8×	17.3×	+15.55% (above 0%: growing)	n/m	+140.99% (above 0%: growing)	90.37%	20.54%	Compare
Median of peers	$22.6B	17.5×	17.0×	+20.21%	+25.00%	+146.91%	91.11%	26.51%

All 614 Biotechnology stocks →

Insmed, Inc. (INSM) key facts

Concern: Insmed, Inc. reported a net loss of $1.3 billion, or a loss of $6.42 per share, for fiscal 2025.
Strength: Insmed, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $606.4 million, up 66.7% from fiscal 2024.
Insmed, Inc. (INSM) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, INSM traded at $96.27, a market capitalization of $21.7 billion.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 18.4× sales.
Return on equity was −249.3% and debt-to-equity 0.74.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 9.29 (safe zone) for fiscal 2025.