Pricing Log in Create free account
Saturday 17 October 2026 Export INSM’s income statement to Excel — free account

Insmed, Inc.

INSM Healthcare Biotechnology

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%
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 (at or above 1.5: strong)
Debt/Equity 0.74
P/E ratio 0.00
Fwd P/E (35.20) (negative: loss-making)
P/S ratio 18.39 (above 10: high)
P/B ratio 27.62 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 75.05% (at or above 15%: strong)
Next Y EPS Growth 149.92% (at or above 15%: strong)
Next Y revenue growth 197.15% (at or above 10%: strong)
Next 5Y EPS Growth 60.45% (at or above 15%: strong)

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 18.1×, against a ten-year median of 17.0×; over the ten years it ranged from 9.1× in 2020 to 96.4× in 2025.
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.

Target Price Range

Analyst price targets

Recommendation Rating

1.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Insmed, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier

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.

Source: company filings (standardised) and stockrow calculations.

Insmed, Inc. (INSM) Latest News

2 Sep

Impact 5 ·

20 Jul

Impact 5 ·

23 Mar

Impact 5 ·
Impact 5 ·

20 Mar

Impact 5 ·

14 Feb

Impact 5 ·
stockrow.com/INSM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com