Financials Insmed Incorporated

Equities

INSM

US4576693075

Biotechnology & Medical Research

Market Closed - Nasdaq Other stock markets 01:30:00 08/07/2025 am IST			5-day change	1st Jan Change
96.95 ^USD	-0.87%		-3.67%	+40.43%

07/07	RBC Lifts Price Target on Insmed to $108 From $106, Keeps Outperform Rating	MT
01/07	Insmed Incorporated(NasdaqGS:INSM) added to Russell Midcap Value Index	CI

Projected Income Statement: Insmed Incorporated

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	164.4	188.5	245.4	305.2	363.7	464.4	992.7	1,878
Change	-	14.63%	30.19%	24.39%	19.17%	27.69%	113.76%	89.13%
EBITDA ¹	-251.1	-359.8	-447	-699	-867.2	-944.1	-675.7	-114.2
Change	-	-43.31%	-24.22%	-56.39%	-24.06%	-8.87%	28.43%	83.1%
EBIT ¹	-265.2	-375.1	-457.3	-709.6	-878.3	-955.7	-676.1	-119
Change	-	-41.42%	-21.92%	-55.17%	-23.76%	-8.81%	29.25%	82.4%
Interest Paid ¹	-29.56	-40.47	-26.45	-81.69	-84.91	-75.85	-60.11	-57.12
Earnings before Tax (EBT) ¹	-292.7	-436.4	-480.2	-747	-910.1	-1,006	-720.8	-172.3
Change	-	-49.1%	-10.02%	-55.58%	-21.83%	-10.55%	28.35%	76.1%
Net income ¹	-294.1	-434.7	-481.5	-749.6	-913.8	-1,005	-729.3	-174.2
Change	-	-47.8%	-10.79%	-55.66%	-21.91%	-10.04%	27.47%	76.11%
Announcement Date	25/02/21	17/02/22	23/02/23	22/02/24	20/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	42.5	43.64	41.42	40.21	45.37	46.76	56.12	53.11	65.22	67.73	59.3	65.21	77.23	79.07	83.69	75.5	90.34	93.42	104.4	92.82	103.7	113.9	152.4	169.5	208	251.6	307.4
Change	-	2.7%	-5.11%	-2.9%	12.81%	3.07%	20.03%	-5.38%	22.81%	3.85%	-12.45%	9.97%	18.42%	2.39%	5.84%	-9.79%	19.66%	3.41%	11.79%	-11.12%	11.67%	9.92%	33.8%	11.2%	22.67%	20.99%	22.2%
EBITDA ¹	-50.6	-52.68	-90.96	-	-84.92	-100.1	-95.43	-87.28	-86.1	-125.6	-148	-145.6	-233	-144.9	-175.5	-	-286.2	-210.7	-227.7	-245	-233	-237.5	-194.4	-	-	-	-
Change	-	-4.11%	-72.67%	-	-	-17.9%	4.68%	8.53%	1.36%	-45.87%	-17.87%	1.61%	-59.94%	37.79%	-21.13%	-	-	26.38%	-8.05%	-7.61%	4.91%	-1.94%	18.12%	-	-	-	-
EBIT ¹	-54.11	-56.22	-94.54	-83.83	-88.57	-103.6	-99.08	-89.83	-88.32	-127.7	-151.5	-148.2	-235.5	-147.7	-178.3	-145.5	-288.9	-213.4	-230.4	-248.1	-239.2	-255.8	-239.2	-217.7	-183	-174	-155
Change	-	-3.9%	-68.15%	11.32%	-5.65%	-16.99%	4.38%	9.33%	1.69%	-44.59%	-18.62%	2.19%	-58.97%	37.3%	-20.72%	18.38%	-98.55%	26.12%	-7.96%	-7.69%	3.6%	-6.95%	6.49%	8.98%	15.96%	4.92%	10.92%
Charge d'intérêts ¹	-7.469	-7.185	-7.499	-7.559	-10.32	-11.24	-11.35	-3.291	-3.357	-3.353	-16.44	-20	-20.62	-20.29	-20.78	-21.04	-21.27	-21.05	-21.55	-	-19.5	-17.86	-16.79	-8	-20	-4	-
Earnings before Tax (EBT) ¹	-61.43	-63.34	-101.6	-91.4	-116.7	-115.3	-113	-94.24	-95.14	-130.8	-160	-159.3	-244.3	-158.4	-185.1	-156.5	-299.8	-219.5	-234.3	-255.7	-246.4	-259	-245.5	-212	-203	-178	-154
Change	-	-3.12%	-60.39%	10.03%	-27.68%	1.21%	1.97%	16.62%	-0.96%	-37.45%	-22.35%	0.45%	-53.36%	35.16%	-16.84%	15.43%	-91.54%	26.77%	-6.73%	-9.13%	3.61%	-5.11%	5.21%	13.65%	4.25%	12.32%	13.48%
Net income ¹	-61.85	-63.66	-102.2	-91.64	-117.3	-112.7	-113	-94.62	-95.64	-131.1	-160.1	-159.8	-244.8	-158.9	-186.1	-157.1	-300.6	-220.5	-235.5	-256.6	-246.1	-258.2	-245	-212	-203	-178	-154
Change	-	-2.92%	-60.56%	10.34%	-28.02%	3.93%	-0.23%	16.25%	-1.08%	-37.12%	-22.1%	0.22%	-53.23%	35.08%	-17.07%	15.57%	-91.36%	26.64%	-6.81%	-8.93%	4.07%	-4.92%	5.12%	13.48%	4.25%	12.32%	13.48%
Announcement Date	06/08/20	29/10/20	25/02/21	06/05/21	05/08/21	28/10/21	17/02/22	05/05/22	04/08/22	27/10/22	23/02/23	04/05/23	03/08/23	26/10/23	22/02/24	09/05/24	08/08/24	31/10/24	20/02/25	08/05/25	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Insmed Incorporated

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-161	-135	156	560	-142	447	543	437
Change	-	16.15%	215.56%	258.97%	-125.36%	414.01%	21.48%	-19.52%
Announcement Date	25/02/21	17/02/22	23/02/23	22/02/24	20/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Insmed Incorporated

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	6.24	7.289	9.878	13.29	21.92	20.6	27.66	40.04
Change	-	16.81%	35.52%	34.52%	64.98%	-6.02%	34.23%	44.78%
Free Cash Flow (FCF) ¹	-225.6	-370.6	-410.3	-549.5	-705.8	-904.7	-668.4	-217.2
Change	-	-64.28%	-10.72%	-33.93%	-28.44%	-28.18%	26.12%	67.51%
Announcement Date	25/02/21	17/02/22	23/02/23	22/02/24	20/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Insmed Incorporated

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-152.71%	-190.93%	-182.18%	-229.04%	-238.44%	-203.3%	-68.07%	-6.08%
EBIT Margin (%)	-161.32%	-199.03%	-186.39%	-232.51%	-241.47%	-205.78%	-68.11%	-6.34%
EBT Margin (%)	-178.02%	-231.57%	-195.69%	-244.76%	-250.22%	-216.65%	-72.62%	-9.18%
Net margin (%)	-178.87%	-230.63%	-196.26%	-245.59%	-251.24%	-216.51%	-73.47%	-9.28%
FCF margin (%)	-137.21%	-196.64%	-167.23%	-180.05%	-194.06%	-194.81%	-67.34%	-11.57%
FCF / Net Income (%)	76.71%	85.26%	85.21%	73.31%	77.24%	89.98%	91.66%	124.67%
Profitability
ROA	-	-42.62%	-33.21%	-50.2%	-54.47%	-64.47%	-86.38%	-41.55%
ROE	-109.42%	-126.66%	-193.22%	-	-	-257.63%	-387.08%	0.74%
Financial Health
Leverage (Debt/EBITDA)	-	-	-0.35x	-0.8x	-	-0.47x	-0.8x	-3.83x
Debt / Free cash flow	-	-	-0.38x	-1.02x	-	-0.49x	-0.81x	-2.01x
Capital Intensity
CAPEX / Current Assets (%)	3.8%	3.87%	4.03%	4.35%	6.03%	4.44%	2.79%	2.13%
CAPEX / EBITDA (%)	-2.49%	-2.03%	-2.21%	-1.9%	-2.53%	-2.18%	-4.09%	-35.07%
CAPEX / FCF (%)	-2.77%	-1.97%	-2.41%	-2.42%	-3.11%	-2.28%	-4.14%	-18.44%
Items per share
Cash flow per share ¹	-2.247	-3.241	-3.255	-3.819	-4.169	-4.349	-2.233	-
Change	-	-44.2%	-0.44%	-17.34%	-9.16%	-4.32%	48.65%	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	2.685	3.994	0.6483	-2.364	1.74	1.08	-1.524	-0.546
Change	-	48.77%	-83.77%	-464.58%	173.6%	-37.95%	-241.14%	64.16%
EPS ¹	-3.01	-3.88	-3.91	-5.34	-5.57	-5.328	-3.616	-0.8478
Change	-	-28.9%	-0.77%	-36.57%	-4.31%	4.35%	32.13%	76.55%
Nbr of stocks (in thousands)	1,01,868	1,18,372	1,35,477	1,43,062	1,78,903	1,89,951	1,89,951	1,89,951
Announcement Date	25/02/21	17/02/22	23/02/23	22/02/24	20/02/25	-	-	-