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Insmed

INSM

Insmed is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases across three core therapeutic areas: Respiratory, Immunology & Inflammation, and Neuro & Other Rare.

Market cap
$25.26B+36.0%
Revenue$819.6M+115%
Net income-$1.2B-16.8%
Free cash flow-$921.6M-16.8%
EPS (diluted)-$5.74+3.2%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 6, 2026 (In 3 weeks)
Revenue estimate$390.1M
EPS estimate-$0.75

Financials

Q1 2026

Income statement

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Revenue$306.0M+230%
Gross profit$258.5M+261%
Operating income-$153.3M+38.2%
Net income-$163.6M+36.3%
EPS (diluted)-$0.76+46.5%

Balance sheet

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Cash & equivalents$582.2M+44.4%
Total debt$580.3M-49.2%
Total equity$704.9M+611%
Total assets$2.1B+15.2%

Cash flow

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Operating cash flow-$222.7M+15.0%
CapEx$3.5M-65.4%
Free cash flow-$226.2M+16.9%

Valuation & ratios

Valuation

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Market cap$25.26B+36.0%
Enterprise value$25.26B+41.3%
P/S30.8×-15.8×

Profitability

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Gross margin81.8%+5.3pp
Operating margin-140.6%-43.9pp
Net margin-144.4%-45.3pp
FCF margin-112.5%-35.3pp

Returns & leverage

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Return on equity-294.5%
Debt / equity0.8×-10.7×
Current ratio4.5×-1.4×

Segments

By product

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ARIKAYCE external R&D expenses$98.1M+5.7%

Competitors

Profile

Insmed is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases across three core therapeutic areas: Respiratory, Immunology & Inflammation, and Neuro & Other Rare. The company's value proposition centers on its proprietary drug delivery technologies, such as Pulmovance liposomal delivery, and its ability to advance first-in-class treatments for chronic lung infections and inflammatory conditions.

Competitive position

Insmed holds a leading position in the NTM lung disease market with the only approved inhaled therapy in major regions and is a first-mover in the bronchiectasis space with the recent approval of BRINSUPRI.

GeographiesUnited States, European Union, Japan, United Kingdom
Customer segmentsSpecialty healthcare providers, Rare disease patients, National health systems
Business modelR&D-driven drug development, Commercial pharmaceutical sales, Licensing and royalties
SuppliersContract Manufacturing Organizations (CMOs), Active Pharmaceutical Ingredient (API) suppliers, Specialized medical device manufacturers, Clinical Research Organizations (CROs)
CustomersSpecialty pharmacies, Full-line pharmaceutical wholesalers, Hospitals and clinics, Governmental health reimbursement agencies
Listed2000
Employees912.0
CEOWilliam H. Lewis
Websiteinsmed.com
FilingsSEC EDGAR

Questions, answered.

What is Insmed's market cap?
Insmed (INSM) has a market capitalization of $25.3B and trades on NASDAQ.
What is Insmed's revenue and profitability?
Insmed generated $819.6M in trailing twelve-month revenue with a net loss of $1.2B, representing a net margin of -144.4%. Gross margin stands at 81.8%, with free cash flow of -$921.6M. These figures are based on the Q1 2026 filing.
Who are Insmed's competitors?
Insmed's key competitors include United Therapeutics Corporation, Sarepta Therapeutics, Inc., Spero Therapeutics, Inc. Common Stock, and others. These companies compete in similar markets and product categories.
Who does Insmed partner with?
Insmed's notable partners include AstraZeneca, PARI Pharma GmbH, Thermo Fisher Scientific, Inc., and others.
Where is Insmed headquartered?
Insmed is headquartered in United States of America and employs approximately 912 people. It has been publicly traded since 2000.