Insmed (INSM) Financials

$66.02 -2.49 (-3.63%)

Closing price 04:00 PM Eastern

Extended Trading

$66.17 +0.15 (+0.23%)

As of 07:35 PM Eastern

Annual Income Statements for Insmed

This table shows Insmed's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	-914	-750	-482	-435	-294	-254	-324	-193	-176	-118
Consolidated Net Income / (Loss)	-914	-750	-482	-435	-294	-254	-324	-193	-176	-118
Net Income / (Loss) Continuing Operations	-914	-750	-482	-435	-294	-254	-324	-193	-176	-118
Total Pre-Tax Income	-910	-747	-480	-436	-293	-254	-324	-193	-176	-120
Total Operating Income	-878	-710	-457	-375	-265	-235	-307	-189	-173	-117
Total Gross Profit	278	240	190	144	125	112	7.41	0.00	0.00	0.00
Total Revenue	364	305	245	188	164	136	9.84	0.00	0.00	0.00
Operating Revenue	364	305	245	188	164	136	9.84	0.00	-	0.00
Total Cost of Revenue	86	66	55	44	40	24	2.42	0.00	0.00	0.00
Operating Cost of Revenue	86	66	55	44	40	24	2.42	0.00	0.00	-
Total Operating Expenses	1,156	949	648	519	390	348	315	189	173	117
Selling, General & Admin Expense	461	345	266	234	204	211	168	79	51	43
Research & Development Expense	598	571	398	273	181	132	145	110	123	74
Amortization Expense	5.05	5.05	5.05	5.05	5.00	4.99	1.25	0.00	0.00	-
Other Special Charges / (Income)	92	29	-21	7.33	0.00	0.00	-	-	-	-
Total Other Income / (Expense), net	-32	-37	-21	-61	-27	-18	-17	-5.63	-3.38	-2.92
Interest Expense	85	82	26	58	30	28	28	5.93	3.50	2.89
Interest & Investment Income	53	42	11	-	1.70	9.92	10	-	-	-
Other Income / (Expense), net	0.03	2.18	-5.94	-3.33	0.41	-0.53	0.60	0.30	0.12	-0.03
Income Tax Expense	3.71	2.56	1.38	-1.76	1.40	0.78	0.20	-0.27	0.10	-1.97
Basic Earnings per Share	($5.57)	($5.34)	($3.91)	($3.88)	($3.01)	($3.01)	($4.22)	($2.89)	($2.85)	($2.02)
Weighted Average Basic Shares Outstanding	164.04M	140.43M	123.04M	112.11M	97.61M	84.56M	76.89M	66.58M	61.89M	58.63M
Diluted Earnings per Share	($5.57)	($5.34)	($3.91)	($3.88)	($3.01)	($3.01)	($4.22)	($2.89)	($2.85)	($2.02)
Weighted Average Diluted Shares Outstanding	164.04M	140.43M	123.04M	112.11M	97.61M	84.56M	76.89M	66.58M	61.89M	58.63M
Weighted Average Basic & Diluted Shares Outstanding	181.00M	148.49M	136.41M	118.90M	97.61M	84.56M	76.89M	66.58M	61.89M	58.63M

This table shows Insmed's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-257	-234	-221	-302	-157	-183	-160	-247	-160	-160	-131
Consolidated Net Income / (Loss)	-257	-78	-221	-301	-314	-186	-159	-245	-160	-160	-131
Net Income / (Loss) Continuing Operations	-257	-236	-221	-301	-157	-186	-159	-245	-160	-160	-131
Total Pre-Tax Income	-256	-234	-220	-300	-157	-185	-158	-244	-159	-160	-131
Total Operating Income	-248	-230	-213	-289	-146	-178	-148	-236	-148	-151	-128
Total Gross Profit	72	78	72	69	58	65	62	61	51	46	54
Total Revenue	93	104	93	90	76	84	79	77	65	59	68
Operating Revenue	93	104	93	90	76	84	79	77	65	59	68
Total Cost of Revenue	21	26	21	21	17	18	17	17	14	13	13
Operating Cost of Revenue	21	26	21	21	17	18	17	17	14	13	13
Total Operating Expenses	320	309	286	358	204	244	210	296	200	198	182
Selling, General & Admin Expense	148	143	119	107	93	90	91	84	80	73	76
Research & Development Expense	153	180	151	147	121	137	109	197	128	125	100
Amortization Expense	1.26	1.26	1.26	1.26	1.26	1.26	1.26	1.26	1.26	1.26	1.26
Other Special Charges / (Income)	18	-15	15	104	-12	16	9.00	14	-9.50	-1.80	5.24
Total Other Income / (Expense), net	-7.53	-3.25	-6.08	-11	-11	-8.44	-9.42	-9.94	-9.59	-6.16	-3.08
Interest Expense	22	22	21	21	21	21	20	21	20	16	3.35
Interest & Investment Income	14	17	17	10	8.78	9.85	11	11	11	-	1.79
Other Income / (Expense), net	0.13	1.05	-2.01	-0.27	1.26	2.49	0.29	-0.49	-0.11	1.13	-1.51
Income Tax Expense	0.91	1.27	1.01	0.84	0.59	1.00	0.54	0.53	0.48	0.13	0.37
Basic Earnings per Share	($1.42)	($1.30)	($1.27)	($1.94)	($1.06)	($1.28)	($1.11)	($1.78)	($1.17)	($1.22)	($1.09)
Weighted Average Basic Shares Outstanding	180.86M	164.04M	173.72M	154.70M	148.46M	140.43M	142.90M	137.55M	136.36M	123.04M	120.79M
Diluted Earnings per Share	($1.42)	($1.30)	($1.27)	($1.94)	($1.06)	($1.28)	($1.11)	($1.78)	($1.17)	($1.22)	($1.09)
Weighted Average Diluted Shares Outstanding	180.86M	164.04M	173.72M	154.70M	148.46M	140.43M	142.90M	137.55M	136.36M	123.04M	120.79M
Weighted Average Basic & Diluted Shares Outstanding	182.14M	181.00M	178.90M	171.85M	148.60M	148.49M	143.06M	143.80M	136.43M	136.41M	135.48M

This table details how cash moves in and out of Insmed's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	73	-592	357	184	45	-7.64	114	219	-120	124
Net Cash From Operating Activities	-684	-536	-400	-363	-219	-251	-258	-160	-147	-101
Net Cash From Continuing Operating Activities	-684	-536	-400	-363	-219	-251	-258	-160	-147	-101
Net Income / (Loss) Continuing Operations	-914	-750	-482	-435	-294	-254	-324	-193	-176	-118
Consolidated Net Income / (Loss)	-914	-750	-482	-435	-294	-254	-324	-193	-176	-118
Depreciation Expense	5.96	5.53	5.28	9.13	9.15	5.19	3.58	2.90	2.44	1.98
Amortization Expense	15	15	11	8.02	7.48	25	2.60	0.12	0.28	0.46
Non-Cash Adjustments To Reconcile Net Income	121	204	78	105	61	37	44	19	18	16
Changes in Operating Assets and Liabilities, net	89	-11	-13	-51	-2.95	-63	16	11	8.64	-0.62
Net Cash From Investing Activities	-583	-224	-35	-64	-6.82	-42	-15	-3.00	-4.20	-3.45
Net Cash From Continuing Investing Activities	-583	-224	-35	-64	-6.82	-42	-15	-3.00	-4.20	-3.45
Purchase of Property, Plant & Equipment	-22	-13	-9.88	-7.29	-6.24	-42	-13	-3.00	-4.20	-3.45
Acquisitions	0.00	3.42	0.00	-6.70	-0.58	0.00	-1.72	0.00	0.00	-
Purchase of Investments	-1,577	-589	-100	-50	0.00	0.00	-	-	-	-
Sale and/or Maturity of Investments	1,016	375	75	0.00	0.00	-	-	-	-	-
Net Cash From Financing Activities	1,341	168	793	613	271	285	387	381	31	228
Net Cash From Continuing Financing Activities	1,341	168	793	613	271	285	387	381	31	228
Repayment of Debt	-3.74	-1.22	-18	-253	-0.94	4.50	-72	0.00	-0.41	-0.25
Issuance of Debt	150	0.00	350	575	0.00	0.00	450	0.00	30	0.00
Issuance of Common Equity	1,084	152	292	270	246	261	0.00	378	0.00	223
Other Financing Activities, net	111	17	169	21	26	20	8.82	3.43	1.08	5.11
Effect of Exchange Rate Changes	-1.31	-0.25	-1.00	-0.93	0.49	-0.00	-0.05	0.10	-0.05	0.00
Cash Interest Paid	41	36	10	11	9.19	7.88	6.29	5.17	3.61	2.95
Cash Income Taxes Paid	2.50	1.96	1.72	1.56	0.81	0.34	0.15	0.17	0.09	-3.01

This table details how cash moves in and out of Insmed's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-152	94	-785	651	113	-4.74	-126	-356	-105	659	-1.45
Net Cash From Operating Activities	-262	-196	-181	-123	-184	-131	-136	-123	-146	-103	-90
Net Cash From Continuing Operating Activities	-262	-196	-181	-123	-184	-131	-136	-123	-146	-103	-90
Net Income / (Loss) Continuing Operations	-257	-236	-221	-301	-157	-186	-159	-245	-160	-160	-131
Consolidated Net Income / (Loss)	-257	-236	-221	-301	-157	-186	-159	-245	-160	-160	-131
Depreciation Expense	1.88	1.48	1.46	1.44	1.59	1.48	1.49	1.31	1.25	2.18	0.85
Amortization Expense	3.76	3.69	3.43	3.74	3.79	3.69	3.78	3.95	3.67	2.90	2.57
Non-Cash Adjustments To Reconcile Net Income	37	22	32	30	37	29	31	107	37	23	17
Changes in Operating Assets and Liabilities, net	-48	12	2.80	143	-69	21	-14	10	-29	29	21
Net Cash From Investing Activities	80	132	-1,003	-6.78	295	1.80	7.15	-274	42	20	49
Net Cash From Continuing Investing Activities	80	132	-1,003	-6.78	295	1.80	7.15	-274	42	20	49
Purchase of Property, Plant & Equipment	-10	-6.77	-3.69	-6.78	-4.68	-2.15	-2.85	-4.88	-3.40	-4.69	-0.58
Purchase of Investments	-631	-577	-1,000	-	-	-296	0.00	-	-	-	-
Sale and/or Maturity of Investments	721	716	-	-	300	300	10	20	45	25	50
Net Cash From Financing Activities	29	159	397	781	3.02	123	1.25	44	-0.40	743	37
Net Cash From Continuing Financing Activities	29	159	397	781	3.02	123	1.25	44	-0.40	743	37
Repurchase of Common Equity	0.00	-	-	-	-0.41	-	-	-	0.00	-	-
Other Financing Activities, net	29	13	26	68	3.43	8.80	1.25	6.31	0.82	152	3.73
Effect of Exchange Rate Changes	0.90	-1.51	1.84	-0.69	-0.95	1.01	2.17	-3.40	-0.03	-1.14	-
Cash Interest Paid	13	15	8.63	8.49	8.21	8.33	7.97	7.90	12	2.72	2.44
Cash Income Taxes Paid	2.18	0.25	0.69	0.35	1.21	0.08	0.52	0.36	1.00	0.09	0.43

This table presents Insmed's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	2,025	1,330	1,656	1,244	796	742	605	462	238	357
Total Current Assets	1,622	929	1,273	837	623	555	519	389	168	288
Cash & Equivalents	555	482	1,074	717	533	487	495	381	163	283
Short-Term Investments	879	298	74	0.00	-	-	-	-	-	-
Accounts Receivable	52	41	30	24	17	19	5.52	0.00	-	-
Inventories, net	99	83	70	67	50	28	7.03	0.00	-	-
Prepaid Expenses	37	24	25	29	24	20	11	8.28	5.82	5.24
Plant, Property, & Equipment, net	80	65	56	53	54	60	23	12	10	8.09
Total Noncurrent Assets	324	335	327	354	119	127	63	60	60	60
Noncurrent Note & Lease Receivables	18	21	24	9.26	10	15	0.00	-	-	-
Goodwill	136	136	136	136	0.00	-	-	-	-	-
Intangible Assets	59	64	69	74	49	54	59	58	58	58
Other Noncurrent Operating Assets	110	115	98	84	60	58	4.30	1.97	1.33	2.15
Total Liabilities & Shareholders' Equity	2,025	1,330	1,656	1,244	796	742	605	462	238	357
Total Liabilities	1,740	1,662	1,568	833	520	481	396	101	83	45
Total Current Liabilities	298	226	190	135	119	85	80	45	28	22
Accounts Payable	285	215	182	125	43	13	18	15	10	7.47
Other Current Liabilities	12	11	8.13	10	13	13	1.53	0.65	0.73	0.68
Total Noncurrent Liabilities	1,442	1,436	1,378	698	401	395	317	56	55	23
Long-Term Debt	1,103	1,155	1,125	567	356	336	317	56	55	22
Other Noncurrent Operating Liabilities	339	281	253	131	45	59	0.00	0.77	0.69	0.57
Total Equity & Noncontrolling Interests	285	-332	88	410	276	262	208	361	154	312
Total Preferred & Common Equity	285	-332	88	410	276	262	208	361	154	312
Total Common Equity	285	-332	88	410	276	262	208	361	154	312
Common Stock	4,648	3,115	2,784	2,675	2,106	1,798	1,490	1,319	920	901
Retained Earnings	-4,360	-3,446	-2,697	-2,265	-1,831	-1,536	-1,282	-958	-765	-589
Accumulated Other Comprehensive Income / (Loss)	-2.29	-0.75	0.76	0.97	0.19	-0.01	-0.01	-0.00	-0.07	0.00

This table presents Insmed's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,803	2,053	1,810	1,159	1,325	1,439	1,518	995
Total Current Assets	1,403	1,650	1,418	759	927	1,052	1,129	632
Cash & Equivalents	403	461	1,247	596	487	613	969	415
Short-Term Investments	796	1,006	0.00	0.00	299	305	30	99
Accounts Receivable	48	42	40	37	36	31	31	27
Inventories, net	101	98	90	83	78	77	71	66
Prepaid Expenses	55	41	41	43	27	26	29	25
Plant, Property, & Equipment, net	88	75	73	69	65	62	60	54
Total Noncurrent Assets	312	328	319	332	334	325	329	309
Noncurrent Note & Lease Receivables	18	19	20	20	22	22	23	17
Goodwill	136	136	136	136	136	136	136	136
Intangible Assets	57	60	61	62	65	66	67	70
Other Noncurrent Operating Assets	101	113	102	113	111	100	102	86
Total Liabilities & Shareholders' Equity	1,803	2,053	1,810	1,159	1,325	1,439	1,518	995
Total Liabilities	1,704	1,570	1,771	1,624	1,614	1,595	1,562	1,025
Total Current Liabilities	239	259	524	421	197	204	188	138
Accounts Payable	233	249	291	189	188	198	179	132
Other Current Liabilities	6.56	11	8.86	7.30	8.95	6.60	8.98	5.79
Total Noncurrent Liabilities	1,464	1,310	1,247	1,203	1,418	1,391	1,374	887
Long-Term Debt	1,105	955	947	939	1,148	1,140	1,132	785
Other Noncurrent Operating Liabilities	359	356	300	264	270	251	242	102
Total Equity & Noncontrolling Interests	99	483	39	-465	-289	-156	-45	-30
Total Preferred & Common Equity	99	483	39	-465	-289	-156	-45	-30
Total Common Equity	99	483	39	-465	-289	-156	-45	-30
Common Stock	4,717	4,607	3,945	3,140	2,973	2,947	2,811	2,508
Retained Earnings	-4,617	-4,124	-3,904	-3,603	-3,260	-3,101	-2,856	-2,536
Accumulated Other Comprehensive Income / (Loss)	-0.90	0.55	-2.83	-1.64	-2.08	-1.25	1.08	-1.39

This table displays calculated financial ratios and metrics derived from Insmed's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.17%	24.39%	30.19%	14.63%	20.48%	1,287.56%	0.00%	0.00%	0.00%	0.00%
EBITDA Growth	-24.86%	-53.66%	-23.72%	-45.56%	-20.57%	31.51%	-61.94%	-8.82%	-48.20%	-34.19%
EBIT Growth	-24.14%	-52.71%	-22.42%	-42.89%	-12.32%	23.13%	-62.62%	-8.85%	-47.44%	-34.74%
NOPAT Growth	-23.76%	-55.17%	-21.92%	-41.42%	-12.75%	23.46%	-62.68%	-8.95%	-47.58%	-34.49%
Net Income Growth	-21.91%	-55.66%	-10.79%	-47.80%	-15.63%	21.57%	-68.33%	-9.29%	-49.15%	-49.30%
EPS Growth	-4.31%	-36.57%	-0.77%	-28.90%	0.00%	28.67%	-46.02%	-1.40%	-41.09%	-9.78%
Operating Cash Flow Growth	-27.53%	-33.91%	-10.22%	-65.63%	12.49%	2.84%	-61.62%	-8.80%	-45.69%	-56.33%
Free Cash Flow Firm Growth	-10.95%	-171.58%	53.18%	-113.44%	28.63%	-17.04%	-73.05%	-6.07%	-35.29%	-31.97%
Invested Capital Growth	-204.94%	-33.85%	-69.12%	111.40%	-9.75%	270.34%	-16.10%	-24.04%	-13.49%	4.04%
Revenue Q/Q Growth	6.05%	8.69%	1.31%	8.47%	-2.54%	35.66%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	-5.39%	-3.83%	-6.43%	-8.51%	-35.07%	22.47%	-7.38%	0.97%	-25.34%	-8.73%
EBIT Q/Q Growth	-6.46%	-3.73%	-11.72%	-2.05%	-21.44%	14.60%	-7.88%	0.93%	-24.80%	-8.80%
NOPAT Q/Q Growth	-6.31%	-3.92%	-12.94%	-1.23%	-21.79%	14.73%	-7.85%	0.89%	-24.80%	-8.82%
Net Income Q/Q Growth	10.54%	-3.58%	-10.85%	-2.54%	-20.10%	13.17%	-8.79%	1.54%	-26.71%	-13.00%
EPS Q/Q Growth	-0.36%	-1.14%	-7.12%	1.02%	-17.12%	17.31%	-7.93%	7.37%	-27.23%	-8.02%
Operating Cash Flow Q/Q Growth	-10.53%	-5.44%	-4.99%	-5.01%	-11.37%	9.32%	-9.30%	5.75%	-26.15%	-16.98%
Free Cash Flow Firm Q/Q Growth	-10.57%	-53.82%	43.44%	-4.92%	-1.42%	4.57%	-10.72%	5.05%	-18.90%	-9.53%
Invested Capital Q/Q Growth	-51.93%	-40.53%	-73.12%	-2.62%	-16.74%	10.84%	-16.65%	-22.94%	-10.21%	1.27%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	76.43%	78.52%	77.53%	76.57%	75.75%	82.26%	75.36%	0.00%	0.00%	0.00%
EBITDA Margin	-235.80%	-225.04%	-182.17%	-191.70%	-150.96%	-150.84%	-3,056.02%	0.00%	0.00%	0.00%
Operating Margin	-241.47%	-232.51%	-186.39%	-199.03%	-161.32%	-172.38%	-3,124.94%	0.00%	0.00%	0.00%
EBIT Margin	-241.46%	-231.79%	-188.81%	-200.80%	-161.07%	-172.77%	-3,118.82%	0.00%	0.00%	0.00%
Profit (Net Income) Margin	-251.24%	-245.59%	-196.26%	-230.63%	-178.87%	-186.37%	-3,297.17%	0.00%	0.00%	0.00%
Tax Burden Percent	100.41%	100.34%	100.29%	99.60%	100.48%	100.31%	100.06%	99.86%	100.06%	98.36%
Interest Burden Percent	103.63%	105.59%	103.65%	115.32%	110.52%	107.54%	105.65%	102.28%	101.67%	102.24%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-921.05%	-232.69%	-169.57%	-177.13%	-235.35%	-659.80%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-1,064.77%	-88.10%	-78.20%	-111.00%	-181.01%	-616.50%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	1,535.52%	39.46%	42.92%	67.72%	127.11%	545.88%	0.00%	0.00%	0.00%
Return on Equity (ROE)	3,926.49%	614.47%	-193.22%	-126.66%	-109.42%	-108.24%	-113.92%	-74.74%	-75.62%	-47.47%
Cash Return on Invested Capital (CROIC)	0.00%	-880.29%	-127.07%	-241.12%	-166.89%	-350.31%	-642.29%	-294.66%	-226.74%	-159.39%
Operating Return on Assets (OROA)	-52.35%	-47.38%	-31.95%	-37.11%	-34.43%	-35.01%	-57.52%	0.00%	0.00%	0.00%
Return on Assets (ROA)	-54.47%	-50.20%	-33.21%	-42.62%	-38.23%	-37.77%	-60.81%	0.00%	0.00%	0.00%
Return on Common Equity (ROCE)	3,926.49%	614.47%	-193.22%	-126.66%	-109.42%	-108.24%	-113.92%	-74.74%	-75.62%	-47.47%
Return on Equity Simple (ROE_SIMPLE)	-320.20%	225.83%	-547.50%	-105.89%	-106.60%	-97.20%	-155.70%	-53.36%	-114.11%	-37.92%
Net Operating Profit after Tax (NOPAT)	-615	-497	-320	-263	-186	-165	-215	-132	-121	-82
NOPAT Margin	-169.03%	-162.75%	-130.47%	-139.32%	-112.92%	-120.67%	-2,187.46%	0.00%	0.00%	0.00%
Net Nonoperating Expense Percent (NNEP)	1,346.16%	143.72%	-144.59%	-91.37%	-66.13%	-54.34%	-43.30%	-27.88%	-30.03%	-18.33%
Return On Investment Capital (ROIC_SIMPLE)	-44.27%	-60.33%	-26.39%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	23.57%	21.48%	22.47%	23.43%	24.25%	17.74%	24.64%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	126.78%	112.87%	108.33%	124.31%	123.84%	154.47%	1,710.40%	0.00%	0.00%	0.00%
R&D to Revenue	164.52%	187.09%	162.02%	144.72%	110.18%	96.51%	1,477.20%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	317.90%	311.02%	263.92%	275.60%	237.07%	254.64%	3,200.31%	0.00%	0.00%	0.00%
Earnings before Interest and Taxes (EBIT)	-878	-707	-463	-378	-265	-236	-307	-189	-173	-118
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-858	-687	-447	-361	-248	-206	-301	-186	-171	-115
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	43.28	0.00	30.78	7.86	12.29	8.15	4.86	6.61	5.30	3.60
Price to Tangible Book Value (P/TBV)	136.30	0.00	0.00	16.08	14.96	10.26	6.76	7.89	8.50	4.43
Price to Revenue (P/Rev)	33.96	14.53	11.03	17.11	20.63	15.63	102.84	0.00	0.00	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	111.97	41.34	14.39	32.33	17.99	28.00	58.16	15.23	16.01
Enterprise Value to Revenue (EV/Rev)	33.05	15.75	10.94	16.05	19.55	14.52	84.69	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.87	-3.48	12.79	1.38	1.29	1.28	1.52	0.15	0.35	0.08
Long-Term Debt to Equity	3.87	-3.48	12.79	1.38	1.29	1.28	1.52	0.15	0.35	0.07
Financial Leverage	-0.95	-1.44	-0.45	-0.55	-0.61	-0.70	-0.89	-0.84	-0.78	-0.79
Leverage Ratio	-72.08	-12.24	5.82	2.97	2.86	2.87	1.87	1.36	1.28	1.18
Compound Leverage Factor	-74.70	-12.92	6.03	3.43	3.16	3.08	1.98	1.39	1.30	1.21
Debt to Total Capital	79.45%	140.31%	92.75%	57.99%	56.36%	56.21%	60.32%	13.34%	26.18%	7.46%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.92%
Long-Term Debt to Total Capital	79.45%	140.31%	92.75%	57.99%	56.36%	56.21%	60.32%	13.34%	26.18%	6.54%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	20.55%	-40.31%	7.25%	42.01%	43.64%	43.79%	39.68%	86.66%	73.82%	92.54%
Debt to EBITDA	-1.29	-1.68	-2.52	-1.57	-1.44	-1.63	-1.05	-0.30	-0.32	-0.22
Net Debt to EBITDA	0.39	-0.55	0.05	0.55	0.71	0.74	0.59	1.75	0.63	2.24
Long-Term Debt to EBITDA	-1.29	-1.68	-2.52	-1.57	-1.44	-1.63	-1.05	-0.30	-0.32	-0.19
Debt to NOPAT	-1.79	-2.33	-3.52	-2.16	-1.92	-2.04	-1.47	-0.42	-0.45	-0.31
Net Debt to NOPAT	0.54	-0.75	0.07	0.76	0.95	0.92	0.83	2.46	0.89	3.13
Long-Term Debt to NOPAT	-1.79	-2.33	-3.52	-2.16	-1.92	-2.04	-1.47	-0.42	-0.45	-0.27
Altman Z-Score	0.78	-2.92	-1.23	-0.40	0.56	-0.34	-2.22	10.83	-0.31	12.50
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.45	4.12	6.69	6.19	5.24	6.51	6.51	8.72	6.02	12.94
Quick Ratio	4.99	3.64	6.19	5.48	4.62	5.94	6.28	8.54	5.81	12.71
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-527	-475	-175	-373	-175	-245	-209	-121	-114	-84
Operating Cash Flow to CapEx	-3,119.47%	-4,035.57%	-4,053.85%	-4,984.25%	-3,515.19%	-593.00%	-1,970.79%	-5,318.79%	-3,493.05%	-2,915.46%
Free Cash Flow to Firm to Interest Expense	-6.20	-5.81	-6.61	-6.42	-5.92	-8.85	-7.57	-20.43	-32.62	-29.19
Operating Cash Flow to Interest Expense	-8.05	-6.56	-15.14	-6.25	-7.42	-9.05	-9.32	-26.94	-41.94	-34.86
Operating Cash Flow Less CapEx to Interest Expense	-8.31	-6.73	-15.52	-6.37	-7.63	-10.57	-9.79	-27.45	-43.14	-36.05
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.22	0.20	0.17	0.18	0.21	0.20	0.02	0.00	0.00	0.00
Accounts Receivable Turnover	7.80	8.61	9.08	9.21	9.19	11.03	0.00	0.00	0.00	0.00
Inventory Turnover	0.94	0.86	0.81	0.76	1.02	1.37	0.00	0.00	0.00	0.00
Fixed Asset Turnover	5.00	5.01	4.48	3.53	2.88	3.30	0.56	0.00	0.00	0.00
Accounts Payable Turnover	0.34	0.33	0.36	0.53	1.42	1.57	0.15	0.00	0.00	0.00
Days Sales Outstanding (DSO)	46.77	42.40	40.21	39.62	39.73	33.09	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	387.01	426.30	453.32	481.96	356.58	266.42	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	1,064.66	1,105.20	1,016.84	693.94	256.49	233.10	2,441.27	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-630.88	-636.51	-523.30	-172.35	139.82	66.41	-2,441.27	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	-45	43	65	210	99	110	30	35	47	54
Invested Capital Turnover	-342.80	5.66	1.78	1.22	1.57	1.95	0.30	0.00	0.00	0.00
Increase / (Decrease) in Invested Capital	-88	-22	-145	111	-11	80	-5.71	-11	-7.28	2.10
Enterprise Value (EV)	12,021	4,808	2,684	3,024	3,215	1,982	833	2,063	711	864
Market Capitalization	12,351	4,433	2,707	3,224	3,391	2,134	1,011	2,388	819	1,122
Book Value per Share	$1.60	($2.32)	$0.65	$3.47	$2.71	$2.93	$2.70	$4.71	$2.50	$5.04
Tangible Book Value per Share	$0.51	($3.72)	($0.86)	$1.69	$2.22	$2.33	$1.94	$3.95	$1.56	$4.10
Total Capital	1,389	823	1,213	977	632	598	525	417	209	337
Total Debt	1,103	1,155	1,125	567	356	336	317	56	55	25
Total Long-Term Debt	1,103	1,155	1,125	567	356	336	317	56	55	22
Net Debt	-330	375	-23	-200	-176	-151	-179	-326	-108	-258
Capital Expenditures (CapEx)	22	13	9.88	7.29	6.24	42	13	3.00	4.20	3.45
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-110	-77	-65	-15	-29	-17	-56	-36	-22	-14
Debt-free Net Working Capital (DFNWC)	1,324	703	1,083	702	504	470	439	345	140	269
Net Working Capital (NWC)	1,324	703	1,083	702	504	470	439	345	140	266
Net Nonoperating Expense (NNE)	299	253	161	172	108	90	109	60	55	36
Net Nonoperating Obligations (NNO)	-330	375	-23	-200	-176	-151	-179	-326	-108	-258
Total Depreciation and Amortization (D&A)	21	21	16	17	17	30	6.18	3.02	2.72	2.44
Debt-free, Cash-free Net Working Capital to Revenue	-30.16%	-25.23%	-26.55%	-7.91%	-17.44%	-12.81%	-567.95%	0.00%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	364.07%	230.48%	441.45%	372.42%	306.60%	344.37%	4,465.83%	0.00%	0.00%	0.00%
Net Working Capital to Revenue	364.07%	230.48%	441.45%	372.42%	306.60%	344.37%	4,465.83%	0.00%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($5.57)	($5.34)	($3.91)	($3.88)	($3.01)	($3.01)	($4.22)	($2.89)	($2.85)	($2.02)
Adjusted Weighted Average Basic Shares Outstanding	164.04M	140.43M	123.04M	112.11M	103.04M	89.78M	77.54M	76.62M	62.02M	61.86M
Adjusted Diluted Earnings per Share	($5.57)	($5.34)	($3.91)	($3.88)	($3.01)	($3.01)	($4.22)	($2.89)	($2.85)	($2.02)
Adjusted Weighted Average Diluted Shares Outstanding	164.04M	140.43M	123.04M	112.11M	103.04M	89.78M	77.54M	76.62M	62.02M	61.86M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($3.01)	($3.01)	($4.22)	($2.89)	($2.85)	($2.02)
Adjusted Weighted Average Basic & Diluted Shares Outstanding	181.00M	148.49M	136.41M	118.90M	97.61M	84.56M	76.89M	66.58M	61.89M	58.63M
Normalized Net Operating Profit after Tax (NOPAT)	-551	-477	-335	-257	-186	-165	-215	-132	-121	-82
Normalized NOPAT Margin	-151.39%	-156.17%	-136.41%	-136.60%	-112.92%	-120.67%	-2,187.46%	0.00%	0.00%	0.00%
Pre Tax Income Margin	-250.22%	-244.76%	-195.69%	-231.57%	-178.02%	-185.80%	-3,295.13%	0.00%	0.00%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-10.34	-8.66	-17.52	-6.51	-8.96	-8.51	-11.08	-31.83	-49.54	-40.68
NOPAT to Interest Expense	-7.24	-6.08	-12.10	-4.51	-6.28	-5.94	-7.77	-22.32	-34.70	-28.47
EBIT Less CapEx to Interest Expense	-10.60	-8.82	-17.89	-6.63	-9.17	-10.04	-11.55	-32.34	-50.74	-41.88
NOPAT Less CapEx to Interest Expense	-7.50	-6.24	-12.48	-4.64	-6.49	-7.47	-8.24	-22.83	-35.90	-29.66
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Insmed's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.94%	24.79%	18.15%	16.98%	15.77%	41.13%	16.75%	18.41%	22.80%	5.66%	44.86%
EBITDA Growth	-74.53%	-31.41%	-48.16%	-23.07%	3.13%	-17.46%	-12.97%	-159.44%	-64.81%	-22.84%	-37.54%
EBIT Growth	-71.94%	-30.48%	-46.18%	-22.52%	2.72%	-16.92%	-14.06%	-154.82%	-62.79%	-47.79%	-24.13%
NOPAT Growth	-70.54%	-29.25%	-44.53%	-22.66%	1.79%	-17.69%	-15.64%	-166.69%	-64.93%	-52.88%	-23.24%
Net Income Growth	-63.33%	57.83%	-38.75%	-22.79%	-96.65%	-16.20%	-21.19%	-155.96%	-68.85%	-41.73%	-16.35%
EPS Growth	-33.96%	-1.56%	-14.41%	-8.99%	9.40%	-4.92%	-1.83%	-122.50%	-46.25%	-27.08%	-13.54%
Operating Cash Flow Growth	-42.41%	-49.81%	-32.70%	-0.13%	-25.79%	-26.83%	-51.77%	-20.03%	-39.12%	-22.60%	-19.06%
Free Cash Flow Firm Growth	34.56%	28.72%	-172.05%	-406.04%	-352.69%	-361.76%	157.34%	118.64%	130.99%	121.80%	31.92%
Invested Capital Growth	-95.35%	-204.94%	-141.08%	-155.37%	15.63%	-33.85%	-70.10%	-74.85%	-62.72%	-69.12%	11.88%
Revenue Q/Q Growth	-11.12%	11.79%	3.41%	19.66%	-9.79%	5.84%	2.39%	18.42%	9.97%	-12.45%	3.85%
EBITDA Q/Q Growth	-8.10%	-6.48%	25.86%	-104.52%	22.99%	-20.06%	38.42%	-60.97%	1.31%	-15.47%	-41.43%
EBIT Q/Q Growth	-8.13%	-6.47%	25.50%	-100.48%	18.09%	-19.27%	37.55%	-59.18%	1.38%	-16.36%	-39.50%
NOPAT Q/Q Growth	-7.69%	-7.96%	26.12%	-98.55%	18.38%	-20.72%	37.30%	-58.97%	2.19%	-18.62%	-44.59%
Net Income Q/Q Growth	-227.04%	64.42%	26.64%	4.32%	-68.86%	-17.07%	35.08%	-53.23%	0.22%	-22.10%	-37.12%
EPS Q/Q Growth	-9.23%	-2.36%	34.54%	-83.02%	17.19%	-15.32%	37.64%	-52.14%	4.10%	-11.93%	-36.25%
Operating Cash Flow Q/Q Growth	-33.73%	-8.33%	-47.14%	33.19%	-40.68%	4.04%	-11.03%	16.07%	-41.84%	-14.83%	12.19%
Free Cash Flow Firm Q/Q Growth	-3.35%	-54.19%	52.11%	14.26%	-12.57%	-255.86%	103.45%	-29.21%	16.61%	134.14%	33.86%
Invested Capital Q/Q Growth	110.60%	-51.93%	19.19%	-135.73%	139.24%	-40.53%	8.93%	-25.39%	36.86%	-73.12%	-8.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	77.08%	74.96%	77.34%	76.79%	76.88%	77.96%	78.87%	78.51%	78.79%	77.96%	80.11%
EBITDA Margin	-261.10%	-214.67%	-225.37%	-314.36%	-183.92%	-203.86%	-179.72%	-298.80%	-219.82%	-244.95%	-185.73%
Operating Margin	-267.33%	-220.61%	-228.45%	-319.80%	-192.72%	-213.01%	-186.75%	-304.97%	-227.19%	-255.44%	-188.54%
EBIT Margin	-267.18%	-219.61%	-230.60%	-320.09%	-191.05%	-210.03%	-186.39%	-305.61%	-227.36%	-253.53%	-190.77%
Profit (Net Income) Margin	-276.42%	-75.12%	-236.04%	-332.75%	-416.14%	-222.31%	-201.00%	-316.99%	-244.98%	-270.02%	-193.63%
Tax Burden Percent	100.36%	33.49%	100.46%	100.28%	200.75%	100.54%	100.34%	100.22%	100.30%	100.08%	100.28%
Interest Burden Percent	103.09%	102.14%	101.89%	103.66%	108.50%	105.28%	107.47%	103.50%	107.43%	106.42%	101.21%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-1,326.37%	0.00%	-2,577.92%	-4,973.00%	-444.30%	-843.80%	-234.00%	-348.78%	-250.26%	-318.89%	-139.75%
ROIC Less NNEP Spread (ROIC-NNEP)	-1,361.40%	0.00%	-2,484.04%	-5,107.30%	-504.87%	-878.63%	-251.56%	-385.00%	-294.75%	-270.44%	338.90%
Return on Net Nonoperating Assets (RNNOA)	1,761.70%	0.00%	1,939.39%	6,399.51%	694.74%	1,267.09%	498.73%	1,524.01%	-987.34%	121.14%	-12.45%
Return on Equity (ROE)	435.34%	3,926.49%	-638.53%	1,426.50%	250.44%	423.29%	264.73%	1,175.23%	-1,237.60%	-197.75%	-152.20%
Cash Return on Invested Capital (CROIC)	-1,095.04%	0.00%	0.00%	0.00%	-531.09%	-880.29%	-196.74%	-161.70%	-129.23%	-127.07%	-135.15%
Operating Return on Assets (OROA)	-68.74%	-47.61%	-46.83%	-64.74%	-45.04%	-42.93%	-45.13%	-66.08%	-43.83%	-42.90%	-40.06%
Return on Assets (ROA)	-71.12%	-16.29%	-47.93%	-67.30%	-98.09%	-45.44%	-48.66%	-68.54%	-47.23%	-45.69%	-40.66%
Return on Common Equity (ROCE)	435.34%	3,926.49%	-638.53%	1,426.50%	250.44%	423.29%	264.73%	1,175.23%	-1,237.60%	-197.75%	-152.20%
Return on Equity Simple (ROE_SIMPLE)	-1,021.86%	0.00%	-211.28%	-2,472.53%	194.49%	0.00%	250.08%	446.78%	1,224.28%	0.00%	1,449.94%
Net Operating Profit after Tax (NOPAT)	-174	-161	-149	-202	-102	-125	-103	-165	-104	-106	-89
NOPAT Margin	-187.13%	-154.43%	-159.91%	-223.86%	-134.91%	-149.10%	-130.73%	-213.48%	-159.03%	-178.81%	-131.98%
Net Nonoperating Expense Percent (NNEP)	35.03%	-372.94%	-93.89%	134.29%	60.57%	34.83%	17.55%	36.22%	44.49%	-48.45%	-478.65%
Return On Investment Capital (ROIC_SIMPLE)	-14.42%	-11.61%	-	-	-	-15.16%	-	-	-	-8.74%	-
Cost of Revenue to Revenue	22.92%	25.04%	22.66%	23.21%	23.12%	22.04%	21.13%	21.49%	21.21%	22.04%	19.89%
SG&A Expenses to Revenue	158.95%	136.45%	127.30%	117.96%	123.31%	106.97%	114.61%	109.33%	122.54%	123.91%	111.59%
R&D to Revenue	164.37%	172.08%	161.42%	162.44%	160.37%	163.73%	138.04%	255.05%	196.07%	210.39%	147.46%
Operating Expenses to Revenue	344.40%	295.58%	305.79%	396.59%	269.60%	290.97%	265.62%	383.49%	305.98%	333.40%	268.65%
Earnings before Interest and Taxes (EBIT)	-248	-229	-215	-289	-144	-176	-147	-236	-148	-150	-129
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-242	-224	-211	-284	-139	-171	-142	-231	-143	-145	-126
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	139.26	43.28	25.95	256.49	0.00	0.00	0.00	0.00	0.00	30.78	0.00
Price to Tangible Book Value (P/TBV)	0.00	136.30	43.65	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	36.24	33.96	36.58	30.30	12.30	14.53	12.93	10.68	9.03	11.03	10.67
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2,871.45	0.00	0.00	0.00	43.30	111.97	55.29	46.77	27.68	41.34	11.82
Enterprise Value to Revenue (EV/Rev)	35.99	33.05	35.08	30.07	14.10	15.75	14.22	11.51	9.55	10.94	11.79
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	11.14	3.87	1.98	30.17	-2.50	-3.48	-3.97	-7.32	-25.36	12.79	-26.20
Long-Term Debt to Equity	11.14	3.87	1.98	24.39	-2.02	-3.48	-3.97	-7.32	-25.36	12.79	-26.20
Financial Leverage	-1.29	-0.95	-0.78	-1.25	-1.38	-1.44	-1.98	-3.96	3.35	-0.45	-0.04
Leverage Ratio	-8.10	-72.08	17.41	-27.79	-5.25	-12.24	-7.26	-22.35	35.51	5.82	4.86
Compound Leverage Factor	-8.35	-73.63	17.74	-28.81	-5.70	-12.89	-7.81	-23.14	38.14	6.19	4.92
Debt to Total Capital	91.77%	79.45%	66.39%	96.79%	166.55%	140.31%	133.72%	115.83%	104.11%	92.75%	103.97%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	18.55%	32.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	91.77%	79.45%	66.39%	78.24%	134.45%	140.31%	133.72%	115.83%	104.11%	92.75%	103.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	8.23%	20.55%	33.61%	3.21%	-66.55%	-40.31%	-33.72%	-15.83%	-4.11%	7.25%	-3.97%
Debt to EBITDA	-1.15	-1.29	-1.17	-1.57	-1.68	-1.68	-1.73	-1.77	-2.25	-2.52	-1.87
Net Debt to EBITDA	0.10	0.39	0.63	0.10	-0.82	-0.55	-0.55	-0.34	-0.27	0.05	-0.65
Long-Term Debt to EBITDA	-1.15	-1.29	-1.17	-1.27	-1.36	-1.68	-1.73	-1.77	-2.25	-2.52	-1.87
Debt to NOPAT	-1.61	-1.79	-1.65	-2.20	-2.35	-2.33	-2.40	-2.46	-3.14	-3.52	-2.77
Net Debt to NOPAT	0.14	0.54	0.89	0.14	-1.15	-0.75	-0.76	-0.48	-0.37	0.07	-0.96
Long-Term Debt to NOPAT	-1.61	-1.79	-1.65	-1.78	-1.90	-2.33	-2.40	-2.46	-3.14	-3.52	-2.77
Altman Z-Score	1.81	1.84	2.62	0.60	-2.71	-1.60	-1.59	-1.58	-1.15	-0.61	-1.65
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.86	5.45	6.37	2.71	1.80	4.12	4.71	5.15	6.01	6.69	4.59
Quick Ratio	5.21	4.99	5.83	2.46	1.50	3.64	4.18	4.64	5.48	6.19	3.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-76	-73	-48	-99	-116	-103	66	32	46	39	-115
Operating Cash Flow to CapEx	-2,602.66%	-2,893.96%	-4,904.20%	-1,812.65%	-3,933.21%	-6,076.13%	-4,776.91%	-2,514.68%	-4,305.56%	-2,198.87%	-15,434.36%
Free Cash Flow to Firm to Interest Expense	-3.51	-3.40	-2.26	-4.67	-5.50	-4.95	3.25	1.57	2.29	2.39	-34.31
Operating Cash Flow to Interest Expense	-12.15	-9.09	-8.59	-5.78	-8.75	-6.29	-6.72	-5.96	-7.31	-6.27	-26.79
Operating Cash Flow Less CapEx to Interest Expense	-12.62	-9.41	-8.77	-6.10	-8.97	-6.40	-6.86	-6.19	-7.48	-6.56	-26.96
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.26	0.22	0.20	0.20	0.24	0.20	0.24	0.22	0.19	0.17	0.21
Accounts Receivable Turnover	8.98	7.80	8.81	9.22	9.32	8.61	8.92	8.92	9.16	9.08	10.37
Inventory Turnover	0.98	0.94	0.88	0.88	0.90	0.86	0.83	0.79	0.84	0.81	0.83
Fixed Asset Turnover	4.85	5.00	4.90	4.87	4.92	5.01	4.75	4.64	4.59	4.48	4.53
Accounts Payable Turnover	0.42	0.34	0.36	0.30	0.38	0.33	0.38	0.50	0.50	0.36	0.71
Days Sales Outstanding (DSO)	40.67	46.77	41.45	39.57	39.15	42.40	40.93	40.92	39.87	40.21	35.21
Days Inventory Outstanding (DIO)	374.26	387.01	412.53	415.29	406.86	426.30	437.16	462.52	435.51	453.32	440.97
Days Payable Outstanding (DPO)	859.97	1,064.66	1,020.78	1,211.78	971.49	1,105.20	969.04	733.01	731.66	1,016.84	512.40
Cash Conversion Cycle (CCC)	-445.04	-630.88	-566.79	-756.92	-525.47	-636.51	-490.95	-229.57	-256.28	-523.30	-36.23
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4.78	-45	-30	-37	103	43	72	66	89	65	242
Invested Capital Turnover	7.09	-342.80	16.12	22.22	3.29	5.66	1.79	1.63	1.57	1.78	1.06
Increase / (Decrease) in Invested Capital	-98	-88	-102	-103	14	-22	-169	-197	-150	-145	26
Enterprise Value (EV)	13,714	12,021	12,032	9,881	4,449	4,808	3,993	3,101	2,459	2,684	2,856
Market Capitalization	13,808	12,351	12,545	9,957	3,881	4,433	3,631	2,879	2,326	2,707	2,584
Book Value per Share	$0.55	$1.60	$2.81	$0.26	($3.13)	($2.32)	($2.01)	($1.14)	($0.33)	$0.65	($0.25)
Tangible Book Value per Share	($0.52)	$0.51	$1.67	($1.07)	($4.47)	($3.72)	($3.41)	($2.62)	($1.82)	($0.86)	($1.97)
Total Capital	1,204	1,389	1,438	1,210	698	823	858	984	1,088	1,213	755
Total Debt	1,105	1,103	955	1,171	1,163	1,155	1,148	1,140	1,132	1,125	785
Total Long-Term Debt	1,105	1,103	955	947	939	1,155	1,148	1,140	1,132	1,125	785
Net Debt	-94	-330	-513	-76	568	375	362	222	134	-23	272
Capital Expenditures (CapEx)	10	6.77	3.69	6.78	4.68	2.15	2.85	4.88	3.40	4.69	0.58
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-36	-110	-77	-128	-34	-77	-56	-70	-58	-65	-19
Debt-free Net Working Capital (DFNWC)	1,163	1,324	1,391	1,118	562	703	730	848	941	1,083	495
Net Working Capital (NWC)	1,163	1,324	1,391	894	338	703	730	848	941	1,083	495
Net Nonoperating Expense (NNE)	83	-83	71	98	212	61	56	80	56	54	42
Net Nonoperating Obligations (NNO)	-94	-330	-513	-76	568	375	362	222	134	-23	272
Total Depreciation and Amortization (D&A)	5.65	5.17	4.89	5.18	5.38	5.17	5.27	5.26	4.91	5.09	3.42
Debt-free, Cash-free Net Working Capital to Revenue	-9.45%	-30.16%	-22.52%	-39.05%	-10.67%	-25.23%	-19.98%	-25.83%	-22.37%	-26.55%	-7.76%
Debt-free Net Working Capital to Revenue	305.35%	364.07%	405.49%	340.37%	178.15%	230.48%	259.90%	314.75%	365.52%	441.45%	204.19%
Net Working Capital to Revenue	305.35%	364.07%	405.49%	272.07%	107.09%	230.48%	259.90%	314.75%	365.52%	441.45%	204.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.42)	($1.30)	($1.27)	($1.94)	($1.06)	($1.28)	($1.11)	($1.78)	($1.17)	($1.22)	($1.09)
Adjusted Weighted Average Basic Shares Outstanding	180.86M	164.04M	173.72M	154.70M	148.46M	140.43M	142.90M	137.55M	136.36M	123.04M	120.79M
Adjusted Diluted Earnings per Share	($1.42)	($1.30)	($1.27)	($1.94)	($1.06)	($1.28)	($1.11)	($1.78)	($1.17)	($1.22)	($1.09)
Adjusted Weighted Average Diluted Shares Outstanding	180.86M	164.04M	173.72M	154.70M	148.46M	140.43M	142.90M	137.55M	136.36M	123.04M	120.79M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	182.14M	181.00M	178.90M	171.85M	148.60M	148.49M	143.06M	143.80M	136.43M	136.41M	135.48M
Normalized Net Operating Profit after Tax (NOPAT)	-161	-172	-139	-130	-110	-114	-97	-155	-110	-107	-86
Normalized NOPAT Margin	-173.33%	-164.35%	-148.91%	-143.51%	-145.94%	-135.97%	-122.76%	-201.25%	-169.23%	-180.93%	-126.56%
Pre Tax Income Margin	-275.44%	-224.32%	-234.96%	-331.83%	-207.29%	-221.12%	-200.31%	-316.30%	-244.24%	-269.81%	-193.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-11.50	-10.64	-10.23	-13.60	-6.86	-8.46	-7.26	-11.45	-7.41	-9.14	-38.54
NOPAT to Interest Expense	-8.05	-7.48	-7.10	-9.51	-4.84	-6.00	-5.10	-8.00	-5.18	-6.45	-26.66
EBIT Less CapEx to Interest Expense	-11.97	-10.96	-10.41	-13.92	-7.08	-8.56	-7.41	-11.68	-7.58	-9.43	-38.71
NOPAT Less CapEx to Interest Expense	-8.52	-7.80	-7.27	-9.83	-5.06	-6.11	-5.24	-8.23	-5.35	-6.73	-26.83
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Insmed's Financials

When does Insmed's fiscal year end?

According to the most recent income statement we have on file, Insmed's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Insmed's net income changed over the last 9 years?

Insmed's net income appears to be on an upward trend, with a most recent value of -$913.77 million in 2024, rising from -$118.18 million in 2015. The previous period was -$749.57 million in 2023. Find out what analysts predict for Insmed in the coming months.

What is Insmed's operating income?

Insmed's total operating income in 2024 was -$878.25 million, based on the following breakdown:

Total Gross Profit: $277.97 million
Total Operating Expenses: $1.16 billion

How has Insmed revenue changed over the last 9 years?

Over the last 9 years, Insmed's total revenue changed from $0.00 in 2015 to $363.71 million in 2024, a change of 36,370,700,000.0%.

How much debt does Insmed have?

Insmed's total liabilities were at $1.74 billion at the end of 2024, a 4.7% increase from 2023, and a 3,778.6% increase since 2015.

How much cash does Insmed have?

In the past 9 years, Insmed's cash and equivalents has ranged from $162.59 million in 2016 to $1.07 billion in 2022, and is currently $555.03 million as of their latest financial filing in 2024.

How has Insmed's book value per share changed over the last 9 years?

Over the last 9 years, Insmed's book value per share changed from 5.04 in 2015 to 1.60 in 2024, a change of -68.4%.

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This page (NASDAQ:INSM) was last updated on 5/21/2025 by MarketBeat.com Staff

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Insmed (INSM) Financials

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Insmed (INSM) Financials

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