Free cash flow
Insmed Free cash flow increased by 14.4% to -$226.22M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 16.9%, from -$272.16M to -$226.22M. Over 4 years (FY 2021 to FY 2025), Free cash flow shows a downward trend with a 27.1% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests improved operational efficiency or reduced capital intensity, providing more flexibility for capital allocation. A decrease may indicate higher investment in R&D or infrastructure, or potential challenges in converting earnings into cash.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
Large-cap medical device and pharmaceutical peers typically maintain strong, positive free cash flow, though levels vary based on the intensity of R&D spending and the lifecycle stage of major product lines.
free_cash_flowHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | -$78.93M | -$76.93M | -$85.27M | -$106.86M | -$105.21M | -$90.41M | -$107.84M | -$149.70M | -$127.68M | -$139.19M | -$132.97M | -$188.71M | -$129.74M | -$184.61M | -$202.75M | -$272.16M | -$209.05M | -$222.18M | -$264.19M | -$226.22M |
| QoQ Change | — | +2.5% | -10.9% | -25.3% | +1.6% | +14.1% | -19.3% | -38.8% | +14.7% | -9.0% | +4.5% | -41.9% | +31.3% | -42.3% | -9.8% | -34.2% | +23.2% | -6.3% | -18.9% | +14.4% |
| YoY Change | — | — | — | — | -33.3% | -17.5% | -26.5% | -40.1% | -21.4% | -54.0% | -23.3% | -26.1% | -1.6% | -32.6% | -52.5% | -44.2% | -61.1% | -20.4% | -30.3% | +16.9% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Insmed's free cash flow?
- Insmed (INSM) reported free cash flow of -$226.22M in Q1 2026.
- How has Insmed's free cash flow changed year-over-year?
- Insmed's free cash flow increased by 16.9% year-over-year, from -$272.16M to -$226.22M.
- What is the long-term trend for Insmed's free cash flow?
- Over 4 years (2021 to 2025), Insmed's free cash flow has grown at a 27.1% compound annual growth rate (CAGR), from -$370.59M to -$967.58M.
- What does free cash flow mean?
- The cash remaining after a company pays for its operating expenses and capital investments.