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Insmed

Nasdaq:INSM
Snowflake Description

High growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
INSM
Nasdaq
$2B
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

Insmed Incorporated, a global biopharmaceutical company, focuses on the development and commercialization of therapies for patients with serious and rare diseases. The last earnings update was 16 days ago. More info.


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INSM Share Price and Events
7 Day Returns
-12%
NasdaqGS:INSM
1%
US Biotechs
0.2%
US Market
1 Year Returns
-5.8%
NasdaqGS:INSM
-4.6%
US Biotechs
2.9%
US Market
INSM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Insmed (INSM) -12% -18.3% -9.4% -5.8% 117.3% 94.7%
US Biotechs 1% -0% -3.2% -4.6% 3.8% 9.7%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • INSM underperformed the Biotechs industry which returned -4.6% over the past year.
  • INSM underperformed the Market in United States of America which returned 2.9% over the past year.
Price Volatility
INSM
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Insmed undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Insmed to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Insmed.

NasdaqGS:INSM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:INSM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.38
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.383 (1 + (1- 21%) (18.26%))
1.391
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.39
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.391 * 5.96%)
11.02%

Discounted Cash Flow Calculation for NasdaqGS:INSM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Insmed is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:INSM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.02%)
2019 -294.97 Analyst x2 -265.70
2020 -194.19 Analyst x2 -157.56
2021 -110.34 Analyst x2 -80.64
2022 78.98 Analyst x1 51.99
2023 184.61 Analyst x1 109.47
2024 289.77 Est @ 56.96% 154.78
2025 407.69 Est @ 40.69% 196.15
2026 527.15 Est @ 29.3% 228.46
2027 639.60 Est @ 21.33% 249.68
2028 740.35 Est @ 15.75% 260.33
Present value of next 10 years cash flows $746.96
NasdaqGS:INSM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $740.35 × (1 + 2.73%) ÷ (11.02% – 2.73%)
$9,177.27
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $9,177.27 ÷ (1 + 11.02%)10
$3,227.03
NasdaqGS:INSM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $746.96 + $3,227.03
$3,973.99
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,973.99 / 77.73
$51.13
NasdaqGS:INSM Discount to Share Price
Calculation Result
Value per share (USD) From above. $51.13
Current discount Discount to share price of $25.82
= -1 x ($25.82 - $51.13) / $51.13
49.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Insmed is available for.
Intrinsic value
49%
Share price is $25.82 vs Future cash flow value of $51.13
Current Discount Checks
For Insmed to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Insmed's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Insmed's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Insmed's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Insmed's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:INSM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-4.28
NasdaqGS:INSM Share Price ** NasdaqGS (2019-05-23) in USD $25.82
United States of America Biotechs Industry PE Ratio Median Figure of 35 Publicly-Listed Biotechs Companies 19.23x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Insmed.

NasdaqGS:INSM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:INSM Share Price ÷ EPS (both in USD)

= 25.82 ÷ -4.28

-6.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Insmed is loss making, we can't compare its value to the US Biotechs industry average.
  • Insmed is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Insmed's expected growth come at a high price?
Raw Data
NasdaqGS:INSM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -6.04x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
68.6%per year
United States of America Biotechs Industry PEG Ratio Median Figure of 28 Publicly-Listed Biotechs Companies 1.26x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Insmed, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Insmed's assets?
Raw Data
NasdaqGS:INSM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $1.86
NasdaqGS:INSM Share Price * NasdaqGS (2019-05-23) in USD $25.82
United States of America Biotechs Industry PB Ratio Median Figure of 414 Publicly-Listed Biotechs Companies 3.35x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
NasdaqGS:INSM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:INSM Share Price ÷ Book Value per Share (both in USD)

= 25.82 ÷ 1.86

13.9x

* Primary Listing of Insmed.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Insmed is overvalued based on assets compared to the US Biotechs industry average.
X
Value checks
We assess Insmed's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Insmed has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Insmed expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
68.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Insmed expected to grow at an attractive rate?
  • Insmed's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Insmed's earnings growth is expected to exceed the United States of America market average.
  • Insmed's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:INSM Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:INSM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 68.6%
NasdaqGS:INSM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 50.7%
United States of America Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 22.6%
United States of America Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 17.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:INSM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:INSM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 890 148 341 5
2022-12-31 667 38 172 5
2021-12-31 400 -131 -33 7
2020-12-31 205 -214 -214 8
2019-12-31 108 -253 -289 8
NasdaqGS:INSM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 32 -264 -330
2018-12-31 10 -258 -324
2018-09-30 -236 -298
2018-06-30 -209 -256
2018-03-31 -190 -224
2017-12-31 -160 -193
2017-09-30 -169 -196
2017-06-30 -162 -188
2017-03-31 -154 -180
2016-12-31 -147 -176
2016-09-30 -116 -139
2016-06-30 -109 -132

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Insmed's earnings are expected to grow significantly at over 20% yearly.
  • Insmed's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:INSM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Insmed Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:INSM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 3.91 11.97 1.19 5.00
2022-12-31 2.04 7.55 -0.02 5.00
2021-12-31 -0.42 3.36 -2.05 7.00
2020-12-31 -2.57 -1.55 -3.05 8.00
2019-12-31 -3.67 -3.23 -4.13 8.00
NasdaqGS:INSM Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -4.28
2018-12-31 -4.22
2018-09-30 -3.88
2018-06-30 -3.46
2018-03-31 -3.19
2017-12-31 -2.89
2017-09-30 -3.11
2017-06-30 -3.04
2017-03-31 -2.91
2016-12-31 -2.85
2016-09-30 -2.25
2016-06-30 -2.14

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Insmed will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Insmed's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Insmed has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Insmed performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Insmed's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Insmed does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Insmed's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Insmed's 1-year growth to the US Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Insmed's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Insmed Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:INSM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 31.74 -329.91 190.38 64.49
2018-12-31 9.84 -324.28 168.22 58.88
2018-09-30 -298.09 145.66 54.74
2018-06-30 -255.52 118.63 49.46
2018-03-31 -223.76 98.11 45.17
2017-12-31 -192.65 79.17 42.12
2017-09-30 -195.67 59.95 37.30
2017-06-30 -188.25 56.26 37.62
2017-03-31 -180.16 51.87 36.48
2016-12-31 -176.27 50.68 35.45
2016-09-30 -139.12 51.44 34.45
2016-06-30 -132.32 48.75 30.05
2016-03-31 -124.35 46.19 27.01
2015-12-31 -118.18 43.22 23.01
2015-09-30 -104.59 38.54 24.19
2015-06-30 -97.61 35.72 24.17
2015-03-31 -92.23 33.89 17.71
2014-12-31 -79.16 31.07 22.76
2014-09-30 -77.73 28.78 -3.25
2014-06-30 -71.06 25.32 18.74
2014-03-31 -56.69 24.99 15.65
2013-12-31 -56.07 22.24 14.64
2013-09-30 -55.31 18.31 37.04
2013-06-30 -47.37 17.21 10.81
2013-03-31 -48.21 11.91 16.24
2012-12-31 -41.37 10.46 8.41
2012-09-30 1.40 -34.09 10.26 12.55
2012-06-30 1.84 -59.29 9.08 17.70

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Insmed has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Insmed has efficiently used its assets last year compared to the US Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Insmed improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Insmed's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Insmed has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Insmed's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Insmed's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Insmed is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Insmed's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Insmed's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Insmed Company Filings, last reported 1 month ago.

NasdaqGS:INSM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 144.14 366.38 420.23
2018-12-31 208.27 316.56 495.07
2018-09-30 291.41 311.86 567.57
2018-06-30 370.64 307.16 634.33
2018-03-31 434.86 302.71 686.58
2017-12-31 361.06 55.57 381.17
2017-09-30 421.31 55.39 430.68
2017-06-30 83.45 55.19 91.06
2017-03-31 121.68 54.99 125.84
2016-12-31 154.48 54.79 162.59
2016-09-30 217.83 34.68 200.52
2016-06-30 250.56 24.83 223.11
2016-03-31 282.46 24.79 252.87
2015-12-31 311.70 25.14 282.88
2015-09-30 339.00 25.26 310.97
2015-06-30 365.34 25.12 335.03
2015-03-31 164.87 24.99 134.55
2014-12-31 186.24 24.86 159.23
2014-09-30 199.27 19.91 167.31
2014-06-30 111.55 19.81 82.70
2014-03-31 131.74 19.80 101.25
2013-12-31 143.32 19.69 113.89
2013-09-30 157.13 19.67 128.03
2013-06-30 105.18 19.65 76.78
2013-03-31 107.61 19.52 81.61
2012-12-31 120.88 19.39 92.94
2012-09-30 136.61 9.28 89.75
2012-06-30 119.72 9.18 73.14
  • Insmed's level of debt (254.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (15.1% vs 254.2% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Insmed has sufficient cash runway for 1.5 years based on current free cash flow.
  • Insmed has sufficient cash runway for 1.4 years if free cash flow continues to grow at historical rates of 31.4% each year.
X
Financial health checks
We assess Insmed's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Insmed has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Insmed's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Insmed dividends. Estimated to be 0% next year.
If you bought $2,000 of Insmed shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Insmed's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Insmed's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:INSM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Global Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:INSM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 2.00
2020-12-31 0.00 2.00
2019-12-31 0.00 2.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Insmed has not reported any payouts.
  • Unable to verify if Insmed's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Insmed's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Insmed has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Insmed's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Insmed's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Insmed afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Insmed has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Insmed's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Will Lewis
COMPENSATION $5,943,159
AGE 49
TENURE AS CEO 6.7 years
CEO Bio

Mr. William H. Lewis, J.D., M.B.A., also known as Will, has been Chief Executive Officer and President at Insmed Incorporated since September 11, 2012 and has been its Chairman of Board since November 6, 2018. Mr. Lewis co-founded Aegerion Pharmaceuticals, Inc., and served as its President from August 2009 to June 2011, Chief Financial Officer since March 2005, Senior Vice President of Finance and Administration from July 2005 to February 2007, Chief Administrative Officer since July 2005, Vice President of Administration from July 2005 to February 2007 and Secretary since July 2005. He has more than 20 years of executive experience in the pharmaceutical and finance industries both in the US and internationally. He served as Treasurer at Aegerion Pharmaceuticals, Inc., since July 2005 and its Senior Vice President of Finance & Administration since February 2007. He joined Aegerion Pharmaceuticals in April 2005 and also served as its Principal Accounting Officer and Executive Vice President. Mr. Lewis has more than 20 years of executive experience and a track record of success in the pharmaceutical and finance industries both in the U.S. and internationally. He spent more than 10 years working in the U.S. and Europe in investment banking for JP Morgan, Robertson Stephens and Wells Fargo. During his time in banking, he was involved in a broad range of domestic and international capital raising and advisory work valued at more than $20 billion. He began his career as an Operations Officer with the Central Intelligence Agency. He has been involved in the operation, investing and banking of life sciences companies for more than ten years. He has been involved in the structuring and financing of companies since 1995. Mr. Lewis began his career with JP Morgan, initially in their New York office where he worked on IPO’s, follow-on offerings, carve-outs and private placements. He was transferred to the London office where he continued to work on international financings until early 2000 when he decided to leave to return to the states and pursue work with an investment bank more specifically focused on emerging growth companies. While at Robertson Stephens in Boston, he began to focus on Life Sciences transactions specifically and was responsible for all public and private capital markets transactions in the Life Sciences Group. He served as Head - Private Capital Group of Wells Fargo & Company since May 14, 2003. From August 2004 to March 2005, Mr. Lewis served as Managing Director at a hedge fund, in which he focused on investments in small market capitalization companies. From August 2002 to April 2004, he served as a Managing Director at Wells Fargo Securities and served as its Head of Capital Markets Investment Banking, in which he was responsible for sourcing, overseeing and executing private and public debt and equity transactions. He served as Senior Vice President of Wells Fargo Securities, LLC. From 2000 to 2002, he was a Principal at Robertson Stephens & Company, in which he was responsible for overseeing private and public debt and equity transactions. From 1996 to 2000, Mr. Lewis served as a Vice President of Equity Capital Markets at J.P. Morgan & Co. Inc., in which he focused on private and public equity offerings in the United States and Europe. He began his career with JP Morgan, initially in their New York office where he worked on IPO's, follow-on offerings, carve-outs and private placements. He served as Managing Director of BayStar Capital, LP. Mr. Lewis served as Managing Director and Head of Capital Markets Investment Banking at Wells Fargo & Company since May 14, 2003. He was employed at Robertson Stephens & Co., L.L.C. (RSCO) and served as its Principal and Head of East Coast Capital Markets. Prior to attending graduate school, he worked in the Foreign Service and Operations Officer for the US Government where he received an Officer's commission. He has been a Director of Insmed Incorporated since September 2012. He serves as a Member of the Board of Directors of Oberlin College. He served as a Director of uniQure N.V. since June 11, 2014 until September 14, 2017. He served as a Member of Supervisory Board at uniQure N.V. since June 11, 2014 until June 15, 2016. He served as a Trustee of BioNJ Inc. Mr. Lewis holds a BA Cum Laude from Oberlin College and a JD/MBA with Honors from Case Western Reserve University.

CEO Compensation
  • Will's compensation has increased whilst company is loss making.
  • Will's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Insmed management team in years:

2.7
Average Tenure
50
Average Age
  • The tenure for the Insmed management team is about average.
Management Team

Will Lewis

TITLE
President
COMPENSATION
$6M
AGE
49
TENURE
6.7 yrs

Paolo Tombesi

TITLE
Chief Financial Officer
COMPENSATION
$2M
AGE
54
TENURE
1.9 yrs

Christine Pellizzari

TITLE
Chief Legal Officer & Corporate Secretary
COMPENSATION
$2M
AGE
50
TENURE
5.8 yrs

Roger Adsett

TITLE
Chief Commercial Officer
COMPENSATION
$3M
AGE
49
TENURE
2.7 yrs

Paul Streck

TITLE
COMPENSATION
$2M
AGE
54
TENURE
0.3 yrs

John Goll

TITLE
Chief Accounting Officer
TENURE
0.2 yrs

Walter Perkins

TITLE
Chief Technology Officer
TENURE
8.4 yrs

Blaine Davis

TITLE
VP & Head of Investor Relations

John Soriano

TITLE
Chief Compliance Officer
AGE
56
TENURE
1.3 yrs

S. Schaeffer

TITLE
Chief People Strategy Officer
COMPENSATION
$2M
AGE
50
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure and age of the Insmed board of directors in years:

3.3
Average Tenure
62.5
Average Age
  • The tenure for the Insmed board of directors is about average.
Board of Directors

Will Lewis

TITLE
President
COMPENSATION
$6M
AGE
49
TENURE
0.5 yrs

Steinar Engelsen

TITLE
Director
COMPENSATION
$225K
AGE
67
TENURE
19.5 yrs

Al Altomari

TITLE
Director
COMPENSATION
$230K
AGE
59
TENURE
6.8 yrs

Davie McGirr

TITLE
Director
COMPENSATION
$225K
AGE
64
TENURE
5.6 yrs

David Brennan

TITLE
Lead Independent Director
COMPENSATION
$216K
AGE
64
TENURE
0.5 yrs

Mel Sharoky

TITLE
Director
COMPENSATION
$217K
AGE
67
TENURE
18 yrs

Leo Lee

TITLE
Director
COMPENSATION
$190K
AGE
48
TENURE
1 yrs

Liz Anderson

TITLE
Director
COMPENSATION
$92K
AGE
61
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Nov 18 Buy Melvin Sharoky Individual 09. Nov 18 12. Nov 18 20,000 $16.35 $320,211
02. Nov 18 Buy William Lewis Individual 01. Nov 18 01. Nov 18 15,700 $15.90 $249,600
02. Nov 18 Buy Steinar Engelsen Individual 01. Nov 18 01. Nov 18 16,085 $15.79 $253,993
02. Nov 18 Buy Roger Adsett Individual 01. Nov 18 01. Nov 18 3,000 $15.97 $47,907
X
Management checks
We assess Insmed's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Insmed has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

A Look At The Intrinsic Value Of Insmed Incorporated (NASDAQ:INSM)

by taking the expected future cash flows and discounting them to today's value. … We generally believe that a company's value is the present value of all of the cash it will generate in the future. … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Our Take On Insmed Incorporated's (NASDAQ:INSM) CEO Salary

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Will Lewis's Compensation Compare With Similar Sized Companies. … According to our data, Insmed Incorporated has a market capitalization of US$2.4b, and pays its CEO total annual compensation worth US$4.4m.

Simply Wall St -

If You Had Bought Insmed Shares Three Years Ago You'd Have Made 124%

For instance the Insmed Incorporated (NASDAQ:INSM) share price is 124% higher than it was three years ago. … Insmed didn't have any revenue in the last year, so it's fair to say it doesn't yet have a proven product (or at least not one people are paying for). … Given how low on cash the it got, investors must really like its potential for the share price to be up 31% per year, over 3 years

Simply Wall St -

What You Must Know About Insmed Incorporated's (NASDAQ:INSM) Beta Value

Volatility is considered to be a measure of risk in modern finance theory. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility).

Simply Wall St -

Need To Know: Insmed Incorporated (NASDAQ:INSM) Insiders Have Been Buying Shares

So we'll take a look at whether insiders have been buying or selling shares in Insmed Incorporated (NASDAQ:INSM). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … In total, Insmed insiders bought more than they sold over the last year

Simply Wall St -

When Will Insmed Incorporated (NASDAQ:INSM) Become Profitable?

Insmed Incorporated's (NASDAQ:INSM):. … The company’s loss has recently broadened since it announced a -US$193m loss in the full financial year, compared to the latest trailing-twelve-month loss of -US$298m, moving it further away from breakeven? … Check out our latest analysis for Insmed

Simply Wall St -

One Thing To Consider Before Buying Insmed Incorporated (NASDAQ:INSM)

If you are looking to invest in Insmed Incorporated’s (NASDAQ:INSM), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. … A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … Any stock with a beta of greater than one is considered more volatile than the market, and those with a beta less than one is generally less volatile.

Simply Wall St -

When Will Insmed Incorporated (NASDAQ:INSM) Become Profitable?

The US$2.05b market-cap posted a loss in its most recent financial year of -US$192.65m and a latest trailing-twelve-month loss of -US$223.76m leading to an even wider gap between loss and breakeven? … The most pressing concern for investors is INSM’s path to profitability – when will it breakeven … I’ve put together a brief outline of industry analyst expectations for INSM, its year of breakeven and its implied growth rate.

Simply Wall St -

Market Sentiment Around Loss-Making Insmed Incorporated (NASDAQ:INSM)

Insmed Incorporated's (NASDAQ:INSM): Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. … See our latest analysis for Insmed INSM is bordering on breakeven, according to analysts. … For a more comprehensive look at INSM, take a look at INSM’s company page on Simply Wall St.

Simply Wall St -

What does Insmed Incorporated's (NASDAQ:INSM) Balance Sheet Tell Us About Its Future?

At this stable level of debt, INSM currently has US$381.17M remaining in cash and short-term investments , ready to deploy into the business. … Moving onto cash from operations, its small level of operating cash flow means calculating cash-to-debt wouldn't be too useful, though these low levels of cash means that operational efficiency is worth a look. … Its cash flow coverage of less than a quarter of debt means that operating efficiency could be an issue.

Simply Wall St -

Company Info

Description

Insmed Incorporated, a global biopharmaceutical company, focuses on the development and commercialization of therapies for patients with serious and rare diseases. Its first commercial product is ARIKAYCE (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options. MAC lung disease is a rare and often chronic infection that can cause irreversible lung damage and can be fatal. Its earlier-stage clinical pipeline includes INS1007, a novel oral reversible inhibitor of dipeptidyl peptidase 1 with therapeutic potential in non-cystic fibrosis bronchiectasis and other inflammatory diseases; and INS1009, an inhaled formulation of a treprostinil prodrug that offers a differentiated product profile for rare pulmonary disorders, including pulmonary arterial hypertension. The company was founded in 1988 and is headquartered in Bridgewater, New Jersey.

Details
Name: Insmed Incorporated
INSM
Exchange: NasdaqGS
Founded: 1988
$2,006,907,860
77,726,873
Website: http://www.insmed.com
Address: Insmed Incorporated
Building 10,
10 Finderne Avenue,
Bridgewater,
New Jersey, 08807,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS INSM Common Stock Nasdaq Global Select US USD 01. Jun 2000
DB IM8N Common Stock Deutsche Boerse AG DE EUR 01. Jun 2000
BST IM8N Common Stock Boerse-Stuttgart DE EUR 01. Jun 2000
LSE 0JAV Common Stock London Stock Exchange GB USD 01. Jun 2000
Number of employees
Current staff
Staff numbers
373
Insmed employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 23:38
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/23
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.