CoverageForm 410-K10-Q8-K13D13G13F

INSM · Insmed Inc - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · INSM

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue$606.42M$363.71M$305.21M$245.36M$188.46M$164.41M
Cost of Revenue$122.94M$85.74M$65.57M$55.13M$44.15M$39.87M
Gross Profit$483.49M$277.96M$239.63M$190.23M$144.31M$124.54M
R&D$771.09M$598.37M$571.01M$397.52M$272.74M$181.16M
SG&A$701.17M$461.12M$344.50M$265.78M$234.27M$203.61M
Total Operating Expenses$1.85B$1.24B$1.01B$702.68M$563.55M$429.64M
D&A$10.45M$5.96M$5.50M$5.30M$9.10M$9.10M
Operating Income($1.25B)($878.25M)($709.63M)($457.32M)($375.09M)($265.23M)
Interest Expense$83.80M$84.91M$81.69M$26.45M$40.47M$29.56M
Income Tax$5.03M$3.71M$2.56M$1.38M($1.76M)$1.40M
Net Income($1.28B)($913.77M)($749.57M)($481.53M)($434.65M)($294.09M)
EPS - Basic($6.42)($5.57)($5.34)($3.91)($3.01)-
EPS - Diluted($6.42)($5.57)($5.34)($3.91)($3.01)-

Balance Sheet

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash & Equivalents$510.44M$555.03M$482.37M$1.07B$716.78M$532.76M
Accounts Receivable$140.86M$52.01M$41.19M$29.71M$24.35M$16.56M
Inventory$132.07M$98.58M$83.25M$69.92M$67.01M$49.59M
Accounts Payable$79.91M$73.03M$65.39M$50.46M$35.78M$42.85M
Current Assets$1.79B$1.62B$929.06M$1.27B$837.04M$622.89M
Total Assets$2.26B$2.03B$1.33B$1.66B$1.24B$796.15M
Current Liabilities$468.87M$297.53M$225.63M$190.24M$135.17M$118.81M
Long-term Debt$540.96M$1.10B$1.16B$1.13B$566.59M$356.32M
Total Liabilities$1.53B$1.74B$1.66B$1.57B$833.04M$520.27M
Stockholders' Equity$738.98M$285.38M($331.92M)$87.95M$410.47M$275.88M
Retained Earnings($5.64B)($4.36B)($3.45B)($2.70B)($2.27B)($1.83B)

Cash Flow

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Operating Cash Flow($935.01M)($683.88M)($536.25M)($400.44M)($363.30M)($219.35M)
Investing Cash Flow($64.58M)($583.17M)($223.60M)($34.58M)($64.28M)($6.82M)
Financing Cash Flow$954.07M$1.34B$168.44M$793.27M$612.55M$271.00M
CapEx$32.56M$21.92M$13.29M$9.88M$7.29M$6.24M
Free Cash Flow($967.58M)($705.80M)($549.53M)($410.32M)($370.59M)($225.59M)

Ratios

MetricFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Profitability
Gross margin79.7%76.4%78.5%77.5%76.6%75.7%
Operating margin-205.6%-241.5%-232.5%-186.4%-199.0%-161.3%
EBITDA margin-203.9%-239.8%-230.7%-184.2%-194.2%-155.8%
Net margin-210.5%-251.2%-245.6%-196.3%-230.6%-178.9%
Free cash flow margin-159.6%-194.1%-180.1%-167.2%-196.6%-137.2%
FCF / Net income0.760.770.730.850.850.77
R&D / Revenue127.2%164.5%187.1%162.0%144.7%110.2%
SG&A / Revenue115.6%126.8%112.9%108.3%124.3%123.8%
Effective tax rate------
Return on assets-56.4%-45.1%-56.4%-29.1%-35.0%-36.9%
Return on equity-172.8%-320.2%225.8%-547.5%-105.9%-106.6%
Return on invested capital-77.0%-50.0%-68.1%-29.8%-30.3%-33.1%
Liquidity
Current ratio3.835.454.126.696.195.24
Quick ratio3.545.123.756.335.704.83
Cash ratio1.091.872.145.655.304.48
Leverage
Debt / Equity0.733.87-3.4812.791.381.29
Debt / Assets0.240.540.870.680.460.45
Debt / EBITDA------
Interest coverage-14.9x-10.3x-8.7x-17.3x-9.3x-9.0x
Equity multiplier3.067.10-4.0118.833.032.89
Liabilities / Assets0.670.861.250.950.670.65
Efficiency
Asset turnover0.270.180.230.150.150.21
Inventory turnover0.930.870.790.790.660.80
Days sales outstanding85d52d49d44d47d37d
Days inventory outstanding392d420d463d463d554d454d
Days payable outstanding237d311d364d334d296d392d
Cash conversion cycle240d161d149d173d305d98d
Valuation
P / E------
P / B46.9x39.7x-28.0x7.4x11.8x
P / S57.1x31.1x14.3x10.0x16.2x19.8x
EV / EBITDA------
Growth
Revenue growth (YoY)66.7%19.2%24.4%30.2%14.6%20.5%
Revenue CAGR (3y)35.2%24.5%22.9%21.6%--
Revenue CAGR (5y)29.8%21.7%----
Gross profit growth (YoY)73.9%16.0%26.0%31.8%15.9%-
Operating income growth (YoY)-42.0%-23.8%-55.2%-21.9%-41.4%-12.7%
Net income growth (YoY)-39.7%-21.9%-55.7%-10.8%-47.8%-15.6%
EPS growth (YoY)-15.3%-4.3%-36.6%-29.9%--
EPS CAGR (3y)------
EPS CAGR (5y)------
FCF growth (YoY)-37.1%-28.4%-33.9%-10.7%-64.3%23.0%
FCF CAGR (5y)------
Book value growth (YoY)158.9%---78.6%48.8%5.4%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$606.42M total
Reportable Segment$606.42M · 100.0%

Product / service

$452.95M total
ARIKAYCE$280.29M · 61.9%
BRINSUPRI$172.66M · 38.1%

Geographic

$606.42M total
US$452.95M · 74.7%
Non Us$153.47M · 25.3%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

-2.93
Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

4/9
Neutral
  • Net income positive
  • Operating cash flow positive
  • ROA improved YoY
  • Cash flow > net income
  • Long-term debt decreased
  • Current ratio improved
  • No share dilution
  • Gross margin improved
  • Asset turnover improved

Peer comparison

Same SIC group: Pharmaceutical Preparations

CompanyRevenue (last FY)Net marginROE
LLY$65.18B31.7%77.8%
UTHR$3.18B41.9%18.8%
PFE$62.58B12.4%9.0%
ZTS$9.47B28.2%80.2%
VRTX$12.00B32.9%21.2%

Comparing INSMED Inc against the 5 most active filers in the same SIC group.