Insmed (INSM) Gross Margin (2018 - 2026)
Insmed (INSM) posted quarterly Gross Margin of 84.5% for Q1 2026, up 742.0% year-over-year from 10.04% in Q1 2025, and up 1.52% quarter-over-quarter from 83.24% in Q4 2025.
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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 for Q1 2026 stood at 84.5%, up from 83.24% in the prior quarter.
- The five-year high for Gross Margin was 84.5% in Q1 2026, with the low at 73.86% in Q2 2025.
- The 5-year median for Gross Margin is 77.96% (2022), against an average of 78.13%.
- The sharpest annual moves came in 2024 and 2025: Gross Margin plunged 300 bps in 2024, then surged 828 bps in 2025.
- Insmed's Gross Margin stood at 77.96% in 2022, then gained by 0 bps to 77.96% in 2023, then retreated by 4 bps to 74.96% in 2024, then rose by 11 bps to 83.24% in 2025, then rose by 2 bps to 84.5% in 2026.
- Business Quant data shows INSM's Gross Margin at 84.5% in Q1 2026, 83.24% in Q4 2025, and 79.37% in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 138.47 Bn | 130.62 Bn | 2.84 Bn | 85.33% |
| 2 | Regeneron Pharmaceuticals | 85.18 Bn | 77.19 Bn | 3.93 Bn | 91.59% |
| 3 | Argenx Se | 63.38 Bn | 58.19 Bn | 1.37 Bn | 90.43% |
| 4 | Moderna | 58.09 Bn | 52.95 Bn | 52.00 Mn | 35.86% |
| 5 | Revolution Medicines | 44.33 Bn | 44.33 Bn | - | - |
| 6 | BeOne Medicines | 40.02 Bn | 34.92 Bn | 1.53 Bn | 89.76% |
| 7 | Alnylam Pharmaceuticals | 35.57 Bn | 32.27 Bn | 992.69 Mn | 76.90% |
| 8 | Royalty Pharma | 28.45 Bn | 27.61 Bn | - | - |
| 9 | Insmed | 27.48 Bn | 26.32 Bn | 358.27 Mn | 84.20% |
| 10 | Incyte | 25.44 Bn | 20.91 Bn | 1.57 Bn | 93.73% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 84.20% |
| 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% |