INSM
$114.14-1.29%
as of close, Sep 30, 2026
☾ AH $114.14 -1.29%
Insmed IncorporatedStock · Health CareNasdaq Composite 0.05%Russell 1000 0.03%US Stock Market 0.03%Russell 3000 0.03%MSCI World 0.03%MSCI ACWI 0.02%
INSM financial statements
The full income statement, balance sheet, and cash-flow statement for Insmed Incorporated (INSM), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 171.8M2024-09 178.9M2024-12 181.0M2025-03 182.1M2025-06 211.4M2025-09 213.3M2025-12 215.6M2026-03 216.8M2026-06 218.4M+27.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 606M+66.7% | 364M+19.2% | 305M+24.4% | 245M+30.2% | 188M+14.6% | |
| Cost of revenue | 123M+43.4% | 85.7M+30.8% | 65.6M+19.0% | 55.1M+24.9% | 44.2M+10.7% | |
| Research & development | 771M+28.9% | 598M+4.8% | 571M+43.6% | 398M+45.7% | 273M+50.6% | |
| Selling, general & administrative | 701M+52.1% | 461M+33.9% | 345M+29.6% | 266M+13.5% | 234M+15.1% | |
| General & administrative | — | — | 345M+29.6% | 266M+13.5% | 234M+15.1% | |
| Amortization of intangibles | 6.00M+18.8% | 5.05M+0.0% | 5.05M-0.0% | 5.05M+0.0% | 5.05M+1.0% | |
| Operating income | -1.25B-42.0% | -878M-23.8% | -710M-55.2% | -457M-21.9% | -375M-41.4% | |
| Interest expense | 83.8M-1.3% | 84.9M+3.9% | 81.7M+208.9% | 26.4M-34.7% | 40.5M+36.9% | |
| Other non-operating income | -1.84M-6448.3% | 29.0K-98.4% | 1.86M+131.3% | -5.94M-78.3% | -3.33M-922.2% | |
| Pre-tax income | -1.27B-39.7% | -910M-21.8% | -747M-55.6% | -480M-10.0% | -436M-49.1% | |
| Income tax | 5.03M+35.6% | 3.71M+45.1% | 2.56M+84.7% | 1.38M+178.7% | -1.76M-225.4% | |
| -1.28B-39.7% | -914M-21.9% | -750M-55.7% | -482M-10.8% | -435M-47.8% | ||
| Net income to common | -1.28B-39.7% | -914M-21.9% | -750M-55.7% | -482M-10.8% | -435M-47.8% | |
| -$6.42-15.3% | -$5.57-4.3% | -$5.34-36.6% | -$3.91-0.8% | -$3.88-28.9% | ||
| EPS (basic) | -$6.42-15.3% | -$5.57-4.3% | -$5.34-36.6% | -$3.91-0.8% | -$3.88-28.9% | |
| Weighted-avg shares (basic) | 199M+21.3% | 164M+16.8% | 140M+14.1% | 123M+9.7% | 112M+14.9% | |
| Weighted-avg shares (diluted) | 199M+21.3% | 164M+16.8% | 140M+14.1% | 123M+9.7% | 112M+14.9% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.79B+10.6% | 1.62B+74.5% | 929M-27.0% | 1.27B+52.1% | 837M+34.4% | ||
| Cash & equivalents | 510M-8.0% | 555M+15.1% | 482M-55.1% | 1.07B+49.8% | 717M+34.5% | |
| Short-term investments | 920M+4.6% | 879M+194.8% | 298M+301.5% | 74.2M | 0.00 | |
| Accounts receivable | 141M+170.8% | 52.0M+26.3% | 41.2M+38.6% | 29.7M+22.0% | 24.4M+47.0% | |
| Inventory | 132M+34.0% | 98.6M+18.4% | 83.2M+19.1% | 69.9M+4.3% | 67.0M+35.1% | |
| Prepaid expenses | 91.2M+145.0% | 37.2M+54.0% | 24.2M-5.1% | 25.5M-11.9% | 28.9M+20.5% | |
| 2.26B+11.8% | 2.03B+52.3% | 1.33B-19.7% | 1.66B+33.2% | 1.24B+56.2% | ||
| Property, plant & equipment | 103M+28.6% | 80.1M+22.4% | 65.4M+15.7% | 56.5M+6.7% | 53.0M-1.8% | |
| Operating lease right-of-use | 20.7M+20.0% | 17.3M-4.2% | 18.0M-17.7% | 21.9M-34.3% | 33.3M+1.1% | |
| Goodwill | 136M+0.0% | 136M+0.0% | 136M+0.0% | 136M+0.0% | 136M | |
| Intangible assets | 97.7M+66.5% | 58.7M-7.9% | 63.7M-7.3% | 68.8M-6.8% | 73.8M+49.8% | |
| Long-term investments | — | — | — | 0.00-100.0% | 50.0M | |
| 469M+57.6% | 298M+31.9% | 226M+18.6% | 190M+40.7% | 135M+13.8% | ||
| Accounts payable | 79.9M+9.4% | 73.0M+11.7% | 65.4M+29.6% | 50.5M+41.0% | 35.8M-16.5% | |
| Accrued liabilities | 456M+59.9% | 285M+32.7% | 215M+18.0% | 182M+200.2% | 60.7M+60.5% | |
| Short-term & current debt | — | — | 0.00 | — | — | |
| Current lease liability | 9.47M+1.2% | 9.36M+16.5% | 8.03M+16.3% | 6.91M-27.5% | 9.53M-17.0% | |
| Finance lease liability (current) | 3.35M+13.0% | 2.96M+13.4% | 2.61M+114.5% | 1.22M+99.8% | 609K-43.7% | |
| 1.53B-12.3% | 1.74B+4.7% | 1.66B+5.9% | 1.57B+88.3% | 833M+60.1% | ||
| Long-term debt | 541M-51.0% | 1.10B-4.5% | 1.16B+2.7% | 1.13B+98.6% | 567M+59.0% | |
| Non-current lease liability | 12.2M+33.6% | 9.11M-17.3% | 11.0M-25.9% | 14.9M-30.7% | 21.4M+0.9% | |
| Operating lease liability (total) | 21.6M+17.2% | 18.5M-3.0% | 19.0M-12.5% | 21.8M-29.7% | 31.0M-5.4% | |
| Finance lease liability (total) | 24.1M-11.0% | 27.0M-8.8% | 29.6M-3.9% | 30.9M+109.7% | 14.7M-6.9% | |
| Finance lease liability | 20.7M-13.9% | 24.1M-11.0% | 27.0M-8.8% | 29.6M+110.1% | 14.1M-4.1% | |
| Other non-current liabilities | 5.65M+1031.5% | 499K-84.1% | 3.15M-66.5% | 9.39M-53.2% | 20.1M+118.7% | |
| 739M+158.9% | 285M+186.0% | -332M-477.4% | 88.0M-78.6% | 410M+48.8% | ||
| Common stock | 2.14M+19.5% | 1.79M+21.2% | 1.48M+9.1% | 1.36M+14.3% | 1.19M+15.5% | |
| Additional paid-in capital | 6.37B+37.2% | 4.65B+49.2% | 3.11B+11.9% | 2.78B+4.1% | 2.67B+27.0% | |
| Retained earnings | -5.64B-29.3% | -4.36B-26.5% | -3.45B-27.8% | -2.70B-19.0% | -2.27B-23.7% | |
| Accumulated other comprehensive income | 1.46M+163.8% | -2.29M-207.2% | -745K-198.5% | 756K-21.9% | 968K+401.6% | |
| Total liabilities & equity | 2.26B+11.8% | 2.03B+52.3% | 1.33B-19.7% | 1.66B+33.2% | 1.24B+56.2% | |
| Common shares issued | 214M+19.4% | 179M+21.2% | 148M+9.1% | 136M+14.2% | 119M+15.5% | |
| Common shares outstanding | 214M+19.4% | 179M+21.2% | 148M+9.1% | 136M+14.2% | 119M+15.5% | |
| Shares outstanding (cover) | 216M+19.1% | 181M+21.9% | 148M+8.9% | 136M+14.7% | 119M+15.4% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -935M-36.7% | -684M-27.5% | -536M-33.9% | -400M-10.2% | -363M-65.6% | ||
| Depreciation & amortization | 16.4M+49.4% | 11.0M+100.2% | 5.50M+3.8% | 5.30M-41.8% | 9.10M+0.0% | |
| Intangible amortization | 6.00M+18.8% | 5.05M+0.0% | 5.05M-0.0% | 5.05M+0.0% | 5.05M+1.0% | |
| Share-based compensation | 153M+57.7% | 96.8M+29.5% | 74.8M+29.6% | 57.7M+25.3% | 46.0M+27.3% | |
| Deferred income taxes | -27.0K+6.9% | -29.0K+46.3% | -54.0K+76.6% | -231K+93.3% | -3.45M | |
| Change in receivables | 88.3M+582.9% | 12.9M+8.1% | 12.0M+86.3% | 6.42M-20.9% | 8.12M+404.0% | |
| Change in inventory | 31.5M+84.9% | 17.0M+25.2% | 13.6M+694.2% | 1.71M-90.2% | 17.5M-17.6% | |
| Change in payables | — | 44.6M+194.2% | 15.2M-69.7% | 50.0M+760.2% | -7.58M-125.4% | |
| -64.6M+88.9% | -583M-160.8% | -224M-546.6% | -34.6M+46.2% | -64.3M-842.3% | ||
| Capital expenditure | 32.6M+48.5% | 21.9M+65.0% | 13.3M+34.5% | 9.88M+35.5% | 7.29M+16.8% | |
| Free cash flow | -968M-37.1% | -706M-28.4% | -550M-33.9% | -410M-10.7% | -371M-64.3% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Sales/maturities of investments | — | — | 375M+400.0% | 75.0M | 0.00 | |
| 954M-28.9% | 1.34B+696.1% | 168M-78.8% | 793M+29.5% | 613M+126.0% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 823M-24.1% | 1.08B+611.0% | 152M-47.8% | 292M+8.3% | 270M+9.8% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | — | — | — | -601K+44.4% | -1.08M-15.5% | |
| FX effect on cash | 931K+171.2% | -1.31M-422.8% | -250K+74.9% | -996K-6.8% | -933K-288.9% | |
| Net change in cash | -44.6M-161.4% | 72.7M+112.3% | -592M-265.6% | 357M+94.1% | 184M+306.0% | |
| Interest paid | 55.4M+36.4% | 40.6M+13.4% | 35.8M+252.3% | 10.2M-6.7% | 10.9M+18.5% | |
| Income taxes paid | 4.14M+65.7% | 2.50M+27.8% | 1.96M+13.9% | 1.72M+10.2% | 1.56M+91.4% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 37.5B+200.2% | 12.5B+181.9% | 4.43B+63.8% | 2.71B-16.4% | 3.24B-5.6% | |
| P/S | 61.9×+80.1% | 34.4×+117.6% | 15.8×+41.3% | 11.2×-35.0% | 17.2×-17.6% | |
| P/B | 50.8×+15.9% | 43.8× | — | — | 7.9×-36.5% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: INSM’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all INSM filings on SEC EDGAR → Not investment advice.