Insmed (INSM) Gross Margin (2018 - 2026)
Insmed's (INSM) quarterly Gross Margin came in at 84.5% in Q1 2026, up 742.0% year-on-year from 10.04% in Q1 2025, and up 1.52% quarter-over-quarter from 83.24% in Q4 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.
- On a quarterly basis, Gross Margin rose 742.0% year-over-year to 84.5% in Q1 2026; TTM through Mar 2026 was 81.81%, a 532.0% increase from a year earlier, with the FY2025 full-year figure at 79.73%, up 330.0% from the prior year.
- Gross Margin climbed to 84.5% in Q1 2026 per INSM's latest filing, from 83.24% in the prior quarter.
- Across five years, Gross Margin topped out at 84.5% in Q1 2026 and bottomed at 73.86% in Q2 2025.
- The 5-year median for Gross Margin is 77.96% (2022), against an average of 78.13%.
- Across the five-year window, Gross Margin sank 300 bps in 2024 and surged 828 bps in 2025, its largest moves.
- Year by year, Gross Margin 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.
- Per Business Quant, the three latest INSM Gross Margin figures stand at 84.5% (Q1 2026), 83.24% (Q4 2025), and 79.37% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 68,785.72 Bn | 68,785.72 Bn | - | - |
| 2 | Nanobiotix | 1,895.57 Bn | 1,895.51 Bn | - | - |
| 3 | BeOne Medicines | 471.35 Bn | 466.56 Bn | 1.35 Bn | 88.95% |
| 4 | NuCana | 279.75 Bn | 279.75 Bn | - | - |
| 5 | Vertex Pharmaceuticals | 120.24 Bn | 113.00 Bn | 2.59 Bn | 86.85% |
| 6 | Regeneron Pharmaceuticals | 67.80 Bn | 59.04 Bn | 3.31 Bn | 91.79% |
| 7 | Belite Bio | 62.51 Bn | 62.51 Bn | - | - |
| 8 | Argenx Se | 57.38 Bn | 57.38 Bn | 1.41 Bn | 90.68% |
| 9 | Revolution Medicines | 37.78 Bn | 37.78 Bn | - | - |
| 10 | Insmed | 23.26 Bn | 22.03 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% |