Insmed Incorporated

INSMNASDAQHealthcare● Active

$93.66

$-0.56(-0.59%)

Market Cap$20.3B

P/E Ratio—

52W High$212.75

52W Low$70.57

Avg Volume2.9M

Open$94.03

Beta0.77

Overview

Insmed Incorporated (INSM) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

INSM · free cash flow · updated Jun 8, 2026

Core FCF metrics

INSM · FCF · TTM · margin & CAGR

Free cash flow was −$967.6M for FY2025 (fiscal year ending 2025-12-31), down 37.1% year-over-year The FCF margin was -159.6%.

FY2025 Free Cash Flow−$967.6M▼ -37.1% YoY

Trailing 12M (TTM)−$951.6Mtrailing 4 quarters sum

FCF Margin-159.6%−$967.6M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

INSM · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$935.0M(33M)−$967.6M▼ 37.1%-159.6%

FY2024−$683.9M(22M)−$705.8M▼ 28.4%-194.1%

FY2023−$536.2M(13M)−$549.5M▼ 33.9%-180.1%

FY2022−$400.4M(10M)−$410.3M▼ 10.7%-167.2%

FY2021−$363.3M(7M)−$370.6M▼ 63.9%-196.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

INSM · P/FCF · FCF yield · FCF per share

Insmed Incorporated (INSM) reported negative free cash flow of −$0.97B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

INSM · cash flow statement · operating / investing / financing

For FY2025, Insmed Incorporated generated −$935.0M in operating cash flow and spent 33M in capital expenditures, yielding −$967.6M in free cash flow.

Operating Activities

−$935.0M

Cash from core business operations

2025-12-31

Investing Activities

−$64.6M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$954.1M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$935.0M) − |CapEx| (33M) = FCF (−$967.6M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

INSM vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Insmed IncorporatedYOU

INSM

−$967.6M-37.1%-159.6%

Loss

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Insmed Incorporated (INSM) reported free cash flow of −$967.6M for FY2025 (fiscal year ending 2025-12-31), down 37.1% year-over-year. The FCF margin was -159.6%.

Insmed Incorporated has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 15 fiscal years.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

INSM free cash flow · 8 questions

Insmed Incorporated free cash flow was −$967.6M for FY2025, down 37.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$951.6M.

INSM free cash flowINSM FCFINSM FCF 2025INSM free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Insmed Incorporated · Insmed Incorporated SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026