INSMNasdaqPharmaceutical PreparationsFiscal year ends December 31
INSMED Inc
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$95.29−0.98 (-1.02%)
Close on Oct 19, 2026
- Market cap
- $20.71B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
79.7%+4.0 pts over 5 years
Operating margin
-205.6%−44.3 pts over 5 years
Net margin
-210.5%−31.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +66.7% | +35.2% | +29.8% | – | |
| Gross profit | +73.9% | +36.5% | +31.2% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -75.6% | -109.4% | -249.3% | |
| Return on assets | -59.3% | -38.2% | -59.5% | |
| Current ratio | 6.02 | 5.24 | 3.83 | |
| Debt to equity | 0.35 | 1.29 | 0.73 | |
| Net debt to EBITDA | 0.63× | 0.69× | – | |
| Interest coverage | -49.6× | -9.0× | -14.9× | |
| Inventory turnover | – | 1.0× | 1.1× | |
| Capex to revenue | – | 3.8% | 5.4% | |
| Diluted shares | 62M | 98M | 199M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Insmed generated $2.92B from operations and spent $84.94M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$2.92B
Used
$84.94M
Capital expenditure$84.94M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-210.5%
×Asset turnover0.28×
×Equity multiplier4.19×
=Return on equity, FY2025-249.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -210.5% | 0.28× | 4.19× | -249.3% |
| FY2024 | -251.2% | 0.22× | -72.08× | 3926.5% |
| FY2023 | -245.6% | 0.20× | -12.24× | 614.5% |
| FY2022 | -196.3% | 0.17× | 5.82× | -193.2% |
| FY2021 | -230.6% | 0.18× | 2.97× | -126.7% |
| FY2020 | -178.9% | 0.21× | 2.86× | -109.4% |
| FY2019 | -186.4% | 0.20× | 2.87× | -108.2% |
| FY2018 | -3297.2% | 0.02× | 1.87× | -113.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$1.28B
- Cash generatingOperating cash flow above zero-$935.01M
- Return on assets improvedROA up on the prior year-68.7% → -63.0%
- Earnings backed by cashOperating cash flow above net income-$935.01M vs -$1.28B
- Less leverageLong-term debt to assets fell54.5% → 23.9%
- Better liquidityCurrent ratio rose5.45 → 3.83
- No dilutionShare count did not rise164M → 199M
- Gross margin improvedGross margin up on the prior year76.43% → 79.73%
- More efficientAsset turnover rose0.27 → 0.30