Insmed, Inc.

Pharmaceutical Preparations

INSMStrained3 of 9 basics passed

$100.50

+0.02%

Market cap $21.9B

$100.50

+0.02%

Market cap $21.9B

Insmed Inc is a biopharmaceutical company. Its commercial portfolio and clinical pipeline are organized around three therapeutic areas: Respiratory, Immunology and Inflammation, and Neuro and Other Rare.

It is a $21.9B healthcare company. It holds more cash than debt.

Website: insmed.com
Location: Bridgewater, NJ
Employees: 1 664
Sector: Healthcare

Share price · 3 years

$24.81 → $100.50+305.1%

price only — dividends excluded

Key facts · TTM

Loss: spends more than it earns; -$875M
Free cash flow: cash left after running the business; -$808M
Net cash: more cash than debt; $889M
Shares: up 78% since 2021 — dilution; 199.0M
Volatility: beta vs the market — under 1 swings less; 0.80

Revenue, last 8 years

52-week range

Low $91.88$100.50High $211.41

Today's price is 7% of the way from the year's low to its high.

Valuation vs own history

P/S

19.3×

43%

P/B

29.0×

59%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Insider activity · 90 days

-$39.2Mnet selling

Purchases$0

Sales$39.2M

Insiders trading, last 14d0 buy · 0 sell

Standing in Healthcare

Size$21.9Btop 56%
Revenue growth+35%top 9%
Net margin-77%top 91%
Return on equity-111%top 94%

Ranked against 98 Healthcare companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Valuation, Growth, Profitability, Quality and Moat lag behind.

Valuation25

P/E vs own historyn/a · 10/25
FCF yield-3.7% · 0/25
P/S19.3x · 5/25
EV/EBITDAn/a · 10/25

Growth0

Revenue CAGRn/a · 0/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growthn/a · 0/25

Profitability0

ROICn/a · 0/25
ROE-111.3% · 0/25
Net margin-76.9% · 0/25
Operating margin-73.9% · 0/25

Health50

Altman Zn/a · 0/25
Current ratio3.72 · 25/25
Interest coverage-54.0x · 0/25
Net cash / debtNet cash · 25/25

Quality5

Piotroski F2/9 · 5/25
Beneish Mn/a · 0/25
FCF conversionn/a · 0/25
Margin stabilityσ 529.8% · 0/25

Moat25

ROIC >12% years0/8 yrs · 0/25
Median gross margin76.6% · 25/25
FCF-positive years0/10 yrs · 0/25
Worst-year net marginworst -3297.2% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2024Financial
Became debt-free
cash now exceeds total debt
1968Milestone
He became a leading opponent of its practices

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$37 208 today — price return only

1 664 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (83.5%)
Net cash position after subtracting debt from cash

Watch-outs

Not profitable — 76.9% net margin
Negative free cash flow (-$807.7M)
Thin interest coverage (-54.0×)
Loss-making in 10 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

3 of 9 checks passed

Revenue growing — the company sells more than a year ago+35.2% YoY
Profitable — makes more than it spends-$875M TTM
Profit growing — earnings are higher than last year-39.7% YoY
Generates cash — cash left after running and investing-$808M TTM
Debt under control — could handle its obligationsmore cash than debt
Established company — not a micro-cap — lower blow-up risk$21.9B market cap
Not printing shares — share count not ballooning — you keep your slice+77.5% shares over ~5y
Proven track record — years of profitability behind it0/10 profitable years
Financially stable — balance sheet not near distresshealth score 25/100
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsno data

Peer comparisonInsmed, Inc. vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
INSM this company	$21.9B	—	—	—	Strained
LLY Eli Lilly & Co.	$1.0T	41.6	+49.6%	33.5%	Solid
JNJ Johnson & Johnson	$630.9B	29.9	+8.1%	21.5%	Mixed
ABBV Abbvie Inc.	$488.5B	77.4	+10.4%	9.8%	Mixed
MRK Merck & Co., Inc.	$361.0B	113.2	+4.6%	4.8%	Mixed
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware)	$340.7B	24.1	+6.5%	3.1%	Mixed
NVS Novartis AG	$273.2B	20.3	+9.6%	24.7%	Solid

Head-to-head: INSM vs LLY · INSM vs JNJ · INSM vs ABBV

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 9Buy 20Hold 1

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue — · net income -$875M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

RevenueNet income

Revenue (TTM)

—

Net income (TTM)

-$875M

Gross margin

83.5%

Operating margin

-73.9%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	0.2	0.2	0.2	0.3	0.4	—
Gross profit	0.1	0.1	0.2	0.2	0.3	—
Operating income (EBIT)	-0.3	-0.4	-0.5	-0.7	-0.9	-1.2
Net income	-0.3	-0.4	-0.5	-0.7	-0.9	-1.3
EPS (diluted)	—	-3.88	-3.91	-5.34	-5.57	-6.42

Cash flowFree cash flow -$808M · operating cash flow -$779M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

-$808M

Operating cash flow (TTM)

-$779M

FCF margin

-110.4%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	-0.2	-0.4	-0.4	-0.5	-0.7	-0.9
Capital expenditure	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0
Free cash flow	-0.2	-0.4	-0.4	-0.5	-0.7	-1.0
FCF margin	-137.2%	-196.6%	-167.2%	-180.1%	-194.1%	—

Balance sheetAssets $2.26B · net cash $889M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $2.26B of assets is financed

67%

33%

Liabilities $1.53B — borrowed moneyEquity $739M — owners' stake

Cash vs debt

Total debt $541M − cash $1.43B = net cash $889M

Cash on hand covers all debt.

Debt repayment

Not needed

Cash already covers all debt

Interest coverage

-54.0x

EBIT ÷ interest expense

ROE

-111.3%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.5	0.7	1.1	0.8	1.4	1.4
Total assets	0.8	1.2	1.7	1.3	2.0	2.3
Total liabilities	0.5	0.8	1.6	1.7	1.7	1.5
Total debt	0.4	0.6	1.1	1.2	1.1	0.5
Equity	0.3	0.4	0.1	-0.3	0.3	0.7
Net debt	-0.2	-0.2	-0.0	0.4	-0.3	-0.9

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of INSM on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $100.50 · market cap $21.9B.