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INSM · NasdaqGS

Insmed Incorporated

Biotechnology · United States

USD 120.00-3.2% daily changeQuote 2026-09-18 · USD
Market cap (USD)
US$26.21B
Trailing P/E
Forward P/E
156.54x
Quarterly revenue growth
296.1%
Trailing net margin
-76.9%
Indicated dividend yield

Snapshot 2026-09-21 · Latest financial period 2026-06-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.

Next earnings: 2026-10-29 (provider estimate, not issuer-confirmed).

Company background

Insmed Incorporated develops and commercializes therapies for patients with serious and rare diseases in the United States, Europe, Japan, and internationally. The company offers ARIKAYCE for the treatment of refractory nontuberculous mycobacterial lung infections, as well as is in phase 3 clinical trial for the treatment of mycobacterium avium complex lung disease as part of a combination antibacterial drug regimen for adult patients. It also develops brensocatib, an oral reversible inhibitor of dipeptidyl peptidase 1(DPP1) that is in phase 3 clinical trial for the treatment of bronchiectasis; and in phase 2 clinical trial for the treatment of chronic rhinosinusitis without nasal polyps and hidradenitis suppurativa. In addition, the company is developing treprostinil palmitil inhalation powder, an inhaled formulation of a treprostinil prodrug treprostinil palmitil, which is in phase 3 clinical trial for the treatment of pulmonary hypertension associated with interstitial lung disease; and phase 2 clinical trial for the treatment of pulmonary arterial hypertension. Further, it develops INS1201, a microdystrophin adeno-associated virus gene replacement therapy which is in phase 1 clinical trial for the treatment of Duchenne muscular dystrophy, as well as it is also developing pre-clinical research programs for gene therapy, AI-driven protein engineering, protein manufacturing, RNA end-joining, and synthetic rescue. In addition, it provides INS1148, monoclonal antibody targeting stem cell factor called SCF248 that is in phase-2 clinical trial for the treatment of interstitial lung disease, and asthma; and INS1202, an intrathecally delivered gene therapy which is in phase 1 of clinical trial for the treatment of amyotrophic lateral sclerosis. The company was founded in 1988 and is headquartered in Bridgewater, New Jersey.

Company website

Q2 2026

Go beyond the headline.

Insmed (INSM): The Revenue Beat Is Real. The Earnings Beat Is The Share Price.

Published 2026-08-06

Comparable businesses

INSM peer comparison

Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.

Comparison stocks

No suitable peers with fresh, comparable size data are available. We have not substituted unrelated companies.

Market metrics · missing or inapplicable values shown as —
MetricINSMInsmed IncorporatedSnapshot 2026-09-21Financial period: 2026-06-30
Market capMarket value, converted to USDUS$26.21B
Forward P/EProvider forward earnings estimate156.54x
EV / EBITDAEnterprise value / trailing EBITDA
Revenue growthLatest quarter vs prior-year quarter296.1%
Operating marginLatest reported quarter-23.8%
Free cash flow yieldTrailing cash flow / market cap-2.2%
Net debt / EBITDANet debt / trailing EBITDA
Debt / equityTotal debt / positive book equity0.98x
Trailing P/ETrailing twelve-month earnings
Price / bookPrice / positive book equity per share34.58x
EV / salesEnterprise value / trailing revenue22.67x
Earnings growthLatest quarter vs prior-year quarter
Gross marginTrailing twelve months83.5%
Net marginTrailing twelve months-76.9%
Return on equityProvider trailing return; positive equity only-87.2%
Free cash flow marginTrailing free cash flow / revenue-50.3%
Dividend yieldIndicated annual dividend / price
Earnings payoutProvider trailing dividend payout0.0%
Current ratioCurrent assets / current liabilities3.72x
BetaProvider historical market sensitivity0.82

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Comparison methodology & limitations

Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.

Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.

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Earnings-multiple scenario

Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.

Starting assumptions, when available, use provider forward estimates as of 2026-09-21. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.

THE RESEARCH RECORD

Research history for INSM

All available reporting periods
Q2 20262026-08-06

Reported figures

Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.