Company Analysis

Insmed Incorporated (INSM)

Nasdaq: INSM · Pharmaceutical Preparations · Bridgewater, NJ · filing with the SEC since 2000
Grade6.0
◀ Past 7.0● Present 5.4▶ Future 5.8
1 est.

The grade of Insmed Incorporated

Nine metrics read from its own filings, by tense
Headline grade
6.0/10
◀ Past7.030% of the headline
● Present5.440% of the headline
▶ Future5.830% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

7.0/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
8.2/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 33% of this tense · 82nd percentile among 497 sector filers · read for itself

From the record

Insmed Incorporated's filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
7.0/10

What has it actually done, year after year?

10 filed years; profitable in 0 of 10.

weight 45% of this tense · 70th percentile among 323 sector filers · read for its customers

From the record

Insmed Incorporated's 10 filed years say what it did: it rose in 7 of 7 years; it never fell from a peak; net income was positive in 0 of 10 of those years (its annual reports).

What it rests on

  • the share of years revenue rosetop 8% of its family
  • the share of filed years with a profitbottom 27% of its family
  • the deepest fall from a revenue peak0.0%top 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
5.4/10

How has it treated the people who own it?

SI estimate 5.4/10, confidence 35 of 100 (one part).

weight 22% of this tense · 54th percentile among 464 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the top 46% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 464 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Insmed Incorporated's shareholder treatment is put at 5.4 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 46% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

5.4/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
3.4/10

Is it financially healthy right now?

ROE -173%: lost 173¢ per shareholder dollar. Leverage 67%: owes 67¢ per asset dollar.

weight 45% of this tense · 34th percentile among 473 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Insmed Incorporated lost about 173 cents for every dollar of shareholders' money, and gross profitability: its products earned about 21 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 67 cents per dollar of assets, and net share issuance: its share count grew 21.3% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 22% of its family
  • return on equitybottom 19% of its family
  • gross profit against assetsbottom 46% of its family
  • the share count against the year beforebottom 49% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
6.7/10

How strong is its position in its industry?

top 33% of 315 in its family; net margin -210.5%.

weight 33% of this tense · 67th percentile among 315 sector filers · read for its customers

From the record

Insmed Incorporated's standing among 315 graded names in its industry family: revenue of $606 million in fiscal 2025 ranks in the top 18% by size; a net margin of -210.5% ranks in the bottom 46%; revenue growth of 35.2% a year over the last 3 filed years ranks in the top 28% (its annual reports).

What it rests on

  • revenue against the family$606Mtop 18% of its family
  • net margin-210.5%bottom 46% of its family
  • three-year revenue growth35.2%top 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
7.5/10

What are the people in charge doing?

top 25% of 315 in its family for leadership; chief executive since 2012.

weight 22% of this tense · 75th percentile among 315 sector filers · read for its shareholders

From the record

Insmed Incorporated's leadership, from its insiders' filings and its current reports: the chief executive on the record is Lewis, William (Chair and CEO, as filed), filing under that title since 2012-09-12, 14.2 years (top 6% of its family); the 16 officers and directors filing in the last fifteen months have been on the record a median of 7.5 years (top 23%); 7 officer or director changes were reported on Form 8-K since 2023-11-13, against the 16 people in charge now (top 46%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge7 in three years among 16 peopletop 46% of its family
  • the median years the people in charge have filed7.5 yearstop 23% of its family
  • the chief executive's years on the record14.2 yearstop 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.8/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.4/10

How much room does it have to grow?

bottom 44% of 273 in its family for room to expand.

weight 45% of this tense · 44th percentile among 273 sector filers · read for itself

From the record

Insmed Incorporated's room to grow, from the newest filed statements (fiscal 2025): cash of $510 million against debt of $541 million leaves -1.3% of its assets as net cash, bottom 13% of its family; cash from operations less capital spending is -159.6% of revenue (bottom 45%); a gross margin of 79.7% (top 34%); research spending of 127.2% of revenue (top 48%) (its annual report).

What it rests on

  • cash less debt against assets-1.3%bottom 13% of its family
  • cash from operations less capital spending against revenue-159.6%bottom 45% of its family
  • gross margin79.7%top 34% of its family
  • research spending against revenue127.2%top 48% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
8.2/10

What could actually drive growth from here?

top 18% of 306 in its family for growth drivers.

weight 33% of this tense · 82nd percentile among 306 sector filers · read for its customers

From the record

Insmed Incorporated's growth drivers, from the filed years to fiscal 2025: the newest year grew 66.8% (top 19%); research spending grew 24.7% a year (top 19%); capital spending grew 48.8% a year (top 15%) (its annual reports). Insmed Incorporated reported 2 product lines in fiscal 2025: ARIKAYCE at $434 million (72%), BRINSUPRI at $173 million (28%); 1 of 1 grew against the year before (its annual report).

What it rests on

  • the newest year's revenue growth66.8%top 19% of its family
  • three-year growth of research spending24.7%top 19% of its family
  • three-year growth of capital spending48.8%top 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.1/10

Did its newest year beat what its own record pointed to?

top 49% of 233 in its family for expectations against reality.

weight 22% of this tense · 51st percentile among 233 sector filers · read for its shareholders

From the record

Insmed Incorporated's newest year against its own record: revenue of $606 million in fiscal 2025 came in 37% above the $443 million its prior three years' pace pointed to (top 21% of its family); net income of $1.3 billion against a prior three-year average of $715 million (bottom 19%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 45%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace37.0%top 21% of its family
  • net income against the prior three years' average-79%bottom 19% of its family
  • net margin against its prior average+20.5 pointstop 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton INSM · research, not advice