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Insmed INSM Gross margin

Gross margin at other companies

United Therapeutics logo
United TherapeuticsUTHR
86.6%-2.4pp
Incyte logo
IncyteINCY
92.5%-0.2pp
Amgen logo
AmgenAMGN
68.3%+5.3pp
ALN
Alnylam PharmaceuticalsALNY
81%-5.3pp
Neurocrine Biosciences logo
Neurocrine BiosciencesNBIX
98.2%-0.3pp
Johnson & Johnson logo
Johnson & JohnsonJNJ
67.8%-0.5pp

Other financials

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

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Market cap$21.34B+155%
Enterprise value$21.34B+142%
P/S26×+4.1×

Profitability

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Operating margin-140.6%-43.9pp
Net margin-144.4%-45.3pp

Returns & leverage

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

Where this comes from

Calculated from Insmed’s reported figures.

Based on trailing twelve months.

The official record: Insmed’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Insmed's gross margin?
Insmed (INSM) reported gross margin of 81.8% in Q1 2026.
How has Insmed's gross margin changed year-over-year?
Insmed's gross margin increased by 6.9% year-over-year, from 76.5% to 81.8%.
What is the long-term trend for Insmed's gross margin?
Over 4 years (2021 to 2025), Insmed's gross margin has grown at a 0.4% compound annual growth rate (CAGR), from 303.2% to 308.5%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.