Insmed Incorporated (INSM)财务
NASDAQ · Healthcare · Biotechnology · 员工1,664人 · CEO William H. Lewis
- 股价
- $112.58 +0.89%
- 市值
- $247亿
- 企业价值
- $250亿
- 最近财报
- Q3 '26 2026-10-29提交
- 下次财报
- 2027-02-18 EPS预期 -$0.32
营收(TTM)$15.2亿+240.0% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)-35.6%+223.3 百分点 对比去年同期营业利润 -$5.41亿
净利润(TTM)-$6.06亿+48.8% 对比去年同期税后,含营业外收益
自由现金流(TTM)-$6.58亿+27.4% 对比去年同期资本支出 $6200万
稀释EPS(TTM)-$2.82+54.4% 对比去年同期最近4个季度之和
净现金$4.05亿-56.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $247亿 EV $250亿
- 营收
- $15.2亿 过去12个月
- 营收增速
- +205% FY2026年一致预期
- 净利润率
- -39.9% 净利润 / 营收,TTM
- P/E
- -39.9× 预期 -68.0×(FY2026)
- P/S
- 16.3× 股价 / 营收,TTM
- EV / EBITDA
- -50.7× TTM
- 自由现金流
- -$6.58亿 过去12个月
- 净利润
- -$6.06亿 过去12个月
- 营收预期
- $18.5亿 FY2026年一致预期
- 盈利
- 2027-02-18 营收预期 $5.97亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-29):营收超预期4.8%,EPS 低于预期20.2%营收$5.24亿,预期$5亿(+4.8%);EPS -$0.46,预期-$0.38(-20.2%)。
- 营收增长加速:同比268.4%Q3 '26营收$5.24亿,此前四个季度的平均值为182.7%。
- 营业利润率-35.6%(TTM),较去年同期+223.3 百分点营收增长240.0%,营业利润增长53.3%。
- 资本支出占营收的4.1%(去年为5.1%)最近4个季度投入$6200万(同比+172.4%)。自由现金流-$6.58亿。
- 稀释股数一年内增加3.5%Q3 '26稀释股数2.19亿,一年前为2.11亿。
- 净现金 $4.05亿现金 + 短期投资 $11.5亿,含租赁债务 $7.41亿;一年前净现金 $9.35亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $5.24亿 | $1.42亿 | +268.4% |
| 毛利率 | 85.1% | 79.4% | +5.7 百分点 |
| 营业利润 | -$8940万 | -$3.66亿 | +75.6% |
| 营业利润率 | -17.0% | -257.1% | +240.1 百分点 |
| 净利润 | -$1亿 | -$3.7亿 | +72.9% |
| 稀释EPS | -$0.46 | -$1.75 | +73.7% |
| 经营现金流 | -$3650万 | -$2.2亿 | +83.4% |
| 资本支出 | $563万 | $242万 | +132.6% |
| 自由现金流 | -$4210万 | -$2.22亿 | +81.1% |
| R&D | $2.7亿 | $1.86亿 | +44.8% |
| 股权激励费用 | $4120万 | $3140万 | +31.1% |
实际 vs 一致预期
2026-10-29| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $5.24亿 | $5亿 | +4.8% |
| EPS(一致预期口径) | -$0.46 | -$0.38 | -20.2% |
来自2026-10-29发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q4 '25 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Reportable Segment | $4.06亿 | – | 100.0% | – | – |
按地区划分的营收
占总额比例| 分部 | Q4 '25 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $4.74亿 | +364.1% | 90.3% | $13.4亿 | +265.6% | |
| Non-US | $5080万 | +26.1% | 9.7% | $2.47亿 | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- -$5.96亿
- 资本支出
- -$6200万
- 股票回购
- $0
- 股息
- $0
- 收购
- -$1500万
- 债务净发行
- -$325万
- 股权激励费用
- $1.28亿
- 自由现金流
- -$6.58亿
- 股东回报 / FCF
- 0.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -39.9× | – | – |
| EV / EBITDA | -50.7× | – | – |
| EV / 营收 | 16.5× | 27.5× | 10.4× – 61.7× |
| 股价 / FCF | -37.6× | – | – |
| 股价 / 净资产 | 33.9× | 31.3× 5年中的4年 | 7.4× – 50.3× |
| FCF收益率 | -2.7% | -10.1% | -16.7% – -2.6% |
| 投入资本回报率 | -32.8% | -48.7% | -64.8% – -31.0% |
| 净资产收益率 | -82.7% | -184.1% | -547.5% – 225.8% |
分析师
一致目标价 $191.31 (+69.9%)
区间 $154.00 – $235.00 · 评级 Buy
强烈买入0
买入33
持有2
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $18.5亿 | +204.5% | -$1.65 | +74.2% | -68.0× | 14 |
| FY2027 | $29.7亿 | +61.0% | $0.65 | +139.4% | 172.6× | 14 |
| FY2028 | $39.6亿 | +33.0% | $3.16 | +384.8% | 35.6× | 16 |
| FY2029 | $49.9亿 | +26.0% | $6.37 | +101.4% | 17.7× | 13 |
| FY2030 | $62.1亿 | +24.6% | $9.98 | +56.8% | 11.3× | 13 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Insmed Incorporated在近期10-Q / 10-K文件中标记的全部240项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable and Accrued Liabilities, Current | $5.75亿 | $4.1亿 | +40.2% | $4.56亿 | $2.85亿 | +59.9% |
| Accounts Payable, Current | $8430万 | $7960万 | +5.9% | $7990万 | $7300万 | +9.4% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $2.59亿 | $6530万 | +297.3% | $1.41亿 | $5200万 | +170.8% |
| Accrued Professional Fees | $3430万 | $2580万 | +33.0% | $2370万 | $1790万 | +32.2% |
| Accrued Royalties | $1.46亿 | $1.64亿 | -10.8% | $1.63亿 | $1.61亿 | +1.1% |
| Accrued Royalties, Current | $1020万 | $937万 | +9.2% | $1710万 | $632万 | +170.4% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $7010万 | $5720万 | +22.5% | $6080万 | $5030万 | +20.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$4万 | $200万 | -102.0% | $146万 | -$229万 | +163.8% |
| Additional Paid in Capital | $66.4亿 | $62.5亿 | +6.2% | $63.7亿 | $46.5亿 | +37.2% |
| Amortization of Debt Issuance Costs | $148万 | $134万 | +10.3% | $622万 | $688万 | -9.7% |
| Amortization of Debt Issuance Costs and Discounts | $148万 | $134万 | +10.3% | $622万 | $688万 | -9.7% |
| Amortization of Intangible Assets | $505万 | $154万 | +228.3% | $600万 | $505万 | +18.8% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $4120万 | $3140万 | +31.1% | $1.53亿 | $9680万 | +57.7% |
| Assets | $22.3亿 | $23.6亿 | -5.7% | $22.6亿 | $20.3亿 | +11.8% |
| Assets, Current | $17.1亿 | $19.3亿 | -11.7% | $17.9亿 | $16.2亿 | +10.6% |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $754万 | $1.05亿 | -92.8% | $2.52亿 | $9170万 | +174.9% |
| Business Combination, Contingent Consideration, Liability, Current | $0 | $4250万 | -100.0% | $5780万 | $2470万 | +134.0% |
| Business Combination, Contingent Consideration, Liability, Noncurrent | $1.78亿 | $2.6亿 | -31.4% | $3.14亿 | $1.44亿 | +118.0% |
| Cash and Cash Equivalents, at Carrying Value | $3.97亿 | $3.35亿 | +18.5% | $5.1亿 | $5.55亿 | -8.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $3.97亿 | $3.35亿 | +18.5% | $5.1亿 | $5.55亿 | -8.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$1.48亿 | -$9.5亿 | +84.4% | -$4460万 | $7270万 | -161.4% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 5亿 | 5亿 | 0.0% | 5亿 | 5亿 | 0.0% |
| Common Stock, Shares, Issued | 2.19亿 | 2.13亿 | +3.2% | 2.14亿 | 1.79亿 | +19.4% |
| Common Stock, Shares, Outstanding | 2.19亿 | 2.13亿 | +3.2% | 2.14亿 | 1.79亿 | +19.4% |
| Common Stock, Value, Issued | $219万 | $213万 | +3.2% | $214万 | $179万 | +19.5% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$9700万 | -$3.7亿 | +73.8% | -$12.7亿 | -$9.15亿 | -39.1% |
| Contract with Customer, Asset, Allowance for Credit Loss | $7940万2025-12-31 | $2230万 | +256.5% | $7940万 | $2230万 | +256.5% |
| Contract with Customer, Refund Liability, Current | $419万 | $1000万 | -58.3% | $696万 | $599万 | +16.2% |
| Cost of Goods and Services Sold | $7820万 | $2940万 | +166.4% | $1.23亿 | $8570万 | +43.4% |
| Costs and Expenses | $6.14亿 | $5.08亿 | +20.7% | $18.5亿 | $12.4亿 | +49.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Current Foreign Tax Expense (Benefit) | – | – | – | $448万 | $338万 | +32.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $505万 | $374万 | +35.3% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $57.7万 | $35.6万 | +62.1% |
| Debt Securities, Available-for-sale | $7.5亿 | $13.5亿 | -44.2% | $9.2亿 | $8.79亿 | +4.6% |
| Debt Securities, Available-for-sale, Unrealized Gain | – | – | – | $40万 | $30万 | +33.3% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Income Tax Expense (Benefit) | $0 | $0 | – | -$2.7万 | -$2.9万 | +6.9% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$2.7万 | -$2.9万 | +6.9% |
| Deferred Tax Assets, Gross | $14.6亿2025-12-31 | $11.4亿 | +28.6% | $14.6亿 | $11.4亿 | +28.6% |
| Deferred Tax Assets, in Process Research and Development | $1.67亿2025-12-31 | $1.78亿 | -5.9% | $1.67亿 | $1.78亿 | -5.9% |
| Deferred Tax Assets, Net of Valuation Allowance | $710万2025-12-31 | $1250万 | -43.1% | $710万 | $1250万 | -43.1% |
| Deferred Tax Assets, Operating Loss Carryforwards | $9.56亿2025-12-31 | $6.73亿 | +42.1% | $9.56亿 | $6.73亿 | +42.1% |
| Deferred Tax Assets, Other | $4160万2025-12-31 | $3850万 | +8.1% | $4160万 | $3850万 | +8.1% |
| Deferred Tax Assets, Tax Credit Carryforwards, General Business | $2.68亿2025-12-31 | $2.18亿 | +22.9% | $2.68亿 | $2.18亿 | +22.9% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $3090万2025-12-31 | $3070万 | +0.5% | $3090万 | $3070万 | +0.5% |
| Deferred Tax Assets, Valuation Allowance | $14.6亿2025-12-31 | $11.3亿 | +29.4% | $14.6亿 | $11.3亿 | +29.4% |
| Deferred Tax Liabilities, Gross | $713万2025-12-31 | $1250万 | -43.1% | $713万 | $1250万 | -43.1% |
| Deferred Tax Liabilities, Intangible Assets | $02025-12-31 | $558万 | -100.0% | $0 | $558万 | -100.0% |
| Deferred Tax Liabilities, Leasing Arrangements | $713万2025-12-31 | $695万 | +2.5% | $713万 | $695万 | +2.5% |
| Deferred Tax Liabilities, Net | $2.9万2025-12-31 | $5.5万 | -47.3% | $2.9万 | $5.5万 | -47.3% |
| Defined Contribution Plan, Employer Discretionary Contribution Amount | – | – | – | $1280万 | $740万 | +73.0% |
| Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | – | – | – | 5.0% | 4.0% | +25.0% |
| Defined Contribution Plan, Employer Matching Contribution, Percent of Match | – | – | – | 100.0% | 100.0% | 0.0% |
| Depreciation | $335万 | $246万 | +36.1% | $1040万 | $596万 | +75.3% |
| Earnings Per Share, Basic | -$0.46 | -$1.75 | +73.7% | -$6.42 | -$5.57 | -15.3% |
| Earnings Per Share, Diluted | -$0.46 | -$1.75 | +73.7% | -$6.42 | -$5.57 | -15.3% |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $26.9万 | -$97.6万 | +127.6% | $93.1万 | -$131万 | +171.2% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-02