Insmed (INSM) Gross Margin (2018 - 2026)
Insmed (INSM) recorded quarterly Gross Margin of 84.5% in Q1 2026, up 1.52% quarter-over-quarter from 83.24% in Q4 2025, and up 742.0% on a YoY basis from 10.04% in Q1 2025.
Insmed (INSM) Gross Margin (2018 - 2026) Analysis & Trends
Insmed's Gross Margin history runs 9 years deep, the most recent figure standing at 84.5% for Q1 2026.
- In Q1 2026, Gross Margin rose 742.0% year-over-year to 84.5%; the TTM figure through Mar 2026 stood at 81.81% (up 532.0% YoY), while the FY2025 annual figure was 79.73%, up 330.0% from the prior year.
- Gross Margin was 84.5% for Q1 2026 at Insmed, up from 83.24% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 84.5% in Q1 2026 to a low of 73.86% in Q2 2025.
- Historically, Gross Margin has averaged 78.13% across 5 years, with a median of 77.96% in 2022.
- The sharpest annual moves came in 2024 and 2025: Gross Margin sank 300 bps in 2024, then soared 828 bps in 2025.
- A 5-year view of Gross Margin shows it stood at 77.96% in 2022, then advanced by 0 bps to 77.96% in 2023, then decreased by 4 bps to 74.96% in 2024, then gained by 11 bps to 83.24% in 2025, then gained by 2 bps to 84.5% in 2026.
- The last three Gross Margin figures came in at 84.5% (Q1 2026), 83.24% (Q4 2025), and 79.37% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alterity Therapeutics | 762,369.55 Bn | 762,369.51 Bn | - | - |
| 2 | Belite Bio | 55,096.00 Bn | 55,096.00 Bn | - | - |
| 3 | Quantum Biopharma | 17,755.80 Bn | 17,755.79 Bn | - | - |
| 4 | Legend Biotech | 3,486.00 Bn | 3,485.71 Bn | 242.10 Mn | 79.04% |
| 5 | Akari Therapeutics | 1,737.42 Bn | 1,737.41 Bn | - | - |
| 6 | Evaxion A | 1,551.28 Bn | 1,551.26 Bn | - | - |
| 7 | Psyence Biomedical | 227.32 Bn | 227.31 Bn | - | - |
| 8 | Vertex Pharmaceuticals | 110.84 Bn | 103.59 Bn | 2.59 Bn | 86.85% |
| 9 | Abivax | 91.71 Bn | 91.71 Bn | - | - |
| 10 | Insmed | 19.79 Bn | 18.57 Bn | 258.54 Mn | 84.50% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 84.50% |
| Dec 31, 2025 | 83.24% |
| Sep 30, 2025 | 79.37% |
| Jun 30, 2025 | 73.86% |
| Mar 31, 2025 | 77.08% |
| Dec 31, 2024 | 74.96% |
| Sep 30, 2024 | 77.34% |
| Jun 30, 2024 | 76.79% |
| Mar 31, 2024 | 76.88% |
| Dec 31, 2023 | 77.96% |
| Sep 30, 2023 | 78.87% |
| Jun 30, 2023 | 78.51% |
| Mar 31, 2023 | 78.79% |
| Dec 31, 2022 | 77.96% |
| Sep 30, 2022 | 80.11% |
| Jun 30, 2022 | 74.86% |
| Mar 31, 2022 | 77.04% |
| Dec 31, 2021 | 76.32% |
| Sep 30, 2021 | 78.22% |
| Jun 30, 2021 | 76.11% |