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Stock Comparison

INSM vs IONS

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
INSM
Insmed Incorporated

Biotechnology

HealthcareNASDAQ • US
Market Cap$22.62B
5Y Perf.+331.5%
IONS
Ionis Pharmaceuticals, Inc.

Biotechnology

HealthcareNASDAQ • US
Market Cap$12.56B
5Y Perf.+35.2%

INSM vs IONS — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
INSM logoINSM
IONS logoIONS
IndustryBiotechnologyBiotechnology
Market Cap$22.62B$12.56B
Revenue (TTM)$606M$1.06B
Net Income (TTM)$-1.28B$-327M
Gross Margin79.4%98.3%
Operating Margin-194.0%-33.3%
Total Debt$768M$2.61B
Cash & Equiv.$510M$372M

INSM vs IONSLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

INSM
IONS
StockMay 20May 26Return
Insmed Incorporated (INSM)100431.5+331.5%
Ionis Pharmaceutica… (IONS)100135.2+35.2%

Price return only. Dividends and distributions are not included.

Quick Verdict: INSM vs IONS

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: IONS leads in 3 of 6 categories, making it the strongest pick for profitability and margin quality and recent price momentum and sentiment. Insmed Incorporated is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
INSM
Insmed Incorporated
The Income Pick

INSM is the clearest fit if your priority is income & stability and growth exposure.

  • beta 0.54
  • Rev growth 66.7%, EPS growth -15.1%, 3Y rev CAGR 35.2%
  • 7.9% 10Y total return vs IONS's 121.1%
Best for: income & stability and growth exposure
IONS
Ionis Pharmaceuticals, Inc.
The Quality Compounder

IONS carries the broadest edge in this set and is the clearest fit for quality and momentum.

  • -30.9% margin vs INSM's -210.5%
  • +129.9% vs INSM's +53.5%
  • -10.1% ROA vs INSM's -57.3%, ROIC -12.8% vs -86.5%
Best for: quality and momentum
See the full category breakdown
CategoryWinnerWhy
GrowthINSM logoINSM66.7% revenue growth vs IONS's 33.9%
Quality / MarginsIONS logoIONS-30.9% margin vs INSM's -210.5%
Stability / SafetyINSM logoINSMBeta 0.54 vs IONS's 0.55, lower leverage
DividendsTieNeither stock pays a meaningful dividend
Momentum (1Y)IONS logoIONS+129.9% vs INSM's +53.5%
Efficiency (ROA)IONS logoIONS-10.1% ROA vs INSM's -57.3%, ROIC -12.8% vs -86.5%

INSM vs IONS — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

INSMInsmed Incorporated
FY 2025
Reportable Segment
100.0%$606M
IONSIonis Pharmaceuticals, Inc.
FY 2025
Commercial Member
52.1%$436M
Royalty
34.1%$286M
Product
13.8%$115M

INSM vs IONS — Financial Metrics

Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLIONSLAGGINGINSM

Income & Cash Flow (Last 12 Months)

IONS leads this category, winning 5 of 6 comparable metrics.

IONS is the larger business by revenue, generating $1.1B annually — 1.7x INSM's $606M. Profitability is closely matched — net margins range from -30.9% (IONS) to -2.1% (INSM). On growth, INSM holds the edge at +152.6% YoY revenue growth, suggesting stronger near-term business momentum.

MetricINSM logoINSMInsmed Incorporat…IONS logoIONSIonis Pharmaceuti…
RevenueTrailing 12 months$606M$1.1B
EBITDAEarnings before interest/tax-$1.2B$4.5B
Net IncomeAfter-tax profit-$1.3B-$327M
Free Cash FlowCash after capex-$998M-$971M
Gross MarginGross profit ÷ Revenue+79.4%+98.3%
Operating MarginEBIT ÷ Revenue-194.0%-33.3%
Net MarginNet income ÷ Revenue-2.1%-30.9%
FCF MarginFCF ÷ Revenue-164.5%-91.8%
Rev. Growth (YoY)Latest quarter vs prior year+152.6%+87.0%
EPS Growth (YoY)Latest quarter vs prior year-16.7%+39.8%
IONS leads this category, winning 5 of 6 comparable metrics.

Valuation Metrics

IONS leads this category, winning 3 of 3 comparable metrics.
MetricINSM logoINSMInsmed Incorporat…IONS logoIONSIonis Pharmaceuti…
Market CapShares × price$22.6B$12.6B
Enterprise ValueMkt cap + debt − cash$22.9B$14.8B
Trailing P/EPrice ÷ TTM EPS-16.35x-31.94x
Forward P/EPrice ÷ next-FY EPS est.
PEG RatioP/E ÷ EPS growth rate
EV / EBITDAEnterprise value multiple
Price / SalesMarket cap ÷ Revenue37.30x13.31x
Price / BookPrice ÷ Book value/share30.30x24.87x
Price / FCFMarket cap ÷ FCF
IONS leads this category, winning 3 of 3 comparable metrics.

Profitability & Efficiency

IONS leads this category, winning 5 of 9 comparable metrics.

IONS delivers a -58.6% return on equity — every $100 of shareholder capital generates $-59 in annual profit, vs $-168 for INSM. INSM carries lower financial leverage with a 1.04x debt-to-equity ratio, signaling a more conservative balance sheet compared to IONS's 5.35x. On the Piotroski fundamental quality scale (0–9), INSM scores 4/9 vs IONS's 3/9, reflecting mixed financial health.

MetricINSM logoINSMInsmed Incorporat…IONS logoIONSIonis Pharmaceuti…
ROE (TTM)Return on equity-168.4%-58.6%
ROA (TTM)Return on assets-57.3%-10.1%
ROICReturn on invested capital-86.5%-12.8%
ROCEReturn on capital employed-66.8%-14.1%
Piotroski ScoreFundamental quality 0–943
Debt / EquityFinancial leverage1.04x5.35x
Net DebtTotal debt minus cash$258M$2.2B
Cash & Equiv.Liquid assets$510M$372M
Total DebtShort + long-term debt$768M$2.6B
Interest CoverageEBIT ÷ Interest expense-14.23x-3.64x
IONS leads this category, winning 5 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

INSM leads this category, winning 4 of 6 comparable metrics.

A $10,000 investment in INSM five years ago would be worth $32,168 today (with dividends reinvested), compared to $20,805 for IONS. Over the past 12 months, IONS leads with a +129.9% total return vs INSM's +53.5%. The 3-year compound annual growth rate (CAGR) favors INSM at 77.0% vs IONS's 29.3% — a key indicator of consistent wealth creation.

MetricINSM logoINSMInsmed Incorporat…IONS logoIONSIonis Pharmaceuti…
YTD ReturnYear-to-date-40.8%-4.6%
1-Year ReturnPast 12 months+53.5%+129.9%
3-Year ReturnCumulative with dividends+454.5%+116.1%
5-Year ReturnCumulative with dividends+221.7%+108.0%
10-Year ReturnCumulative with dividends+793.5%+121.1%
CAGR (3Y)Annualised 3-year return+77.0%+29.3%
INSM leads this category, winning 4 of 6 comparable metrics.

Risk & Volatility

Evenly matched — INSM and IONS each lead in 1 of 2 comparable metrics.

INSM is the less volatile stock with a 0.54 beta — it tends to amplify market swings less than IONS's 0.55 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. IONS currently trades 87.6% from its 52-week high vs INSM's 49.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricINSM logoINSMInsmed Incorporat…IONS logoIONSIonis Pharmaceuti…
Beta (5Y)Sensitivity to S&P 5000.54x0.55x
52-Week HighHighest price in past year$212.75$86.74
52-Week LowLowest price in past year$63.81$31.66
% of 52W HighCurrent price vs 52-week peak+49.3%+87.6%
RSI (14)Momentum oscillator 0–10041.958.8
Avg Volume (50D)Average daily shares traded2.3M2.0M
Evenly matched — INSM and IONS each lead in 1 of 2 comparable metrics.

Analyst Outlook

Insufficient data to determine a leader in this category.

Wall Street rates INSM as "Buy" and IONS as "Buy". Consensus price targets imply 107.2% upside for INSM (target: $217) vs 41.1% for IONS (target: $107).

MetricINSM logoINSMInsmed Incorporat…IONS logoIONSIonis Pharmaceuti…
Analyst RatingConsensus buy/hold/sellBuyBuy
Price TargetConsensus 12-month target$217.11$107.27
# AnalystsCovering analysts3532
Dividend YieldAnnual dividend ÷ price
Dividend StreakConsecutive years of raises
Dividend / ShareAnnual DPS
Buyback YieldShare repurchases ÷ mkt cap0.0%0.0%
Insufficient data to determine a leader in this category.
Key Takeaway

IONS leads in 3 of 6 categories (Income & Cash Flow, Valuation Metrics). INSM leads in 1 (Total Returns). 1 tied.

Best OverallIonis Pharmaceuticals, Inc. (IONS)Leads 3 of 6 categories
Loading custom metrics...

INSM vs IONS: Frequently Asked Questions

8 questions · data-driven answers · updated daily

01

Is INSM or IONS a better buy right now?

For growth investors, Insmed Incorporated (INSM) is the stronger pick with 66.

7% revenue growth year-over-year, versus 33. 9% for Ionis Pharmaceuticals, Inc. (IONS). Analysts rate Insmed Incorporated (INSM) a "Buy" — based on 35 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which is the better long-term investment — INSM or IONS?

Over the past 5 years, Insmed Incorporated (INSM) delivered a total return of +221.

7%, compared to +108. 0% for Ionis Pharmaceuticals, Inc. (IONS). Over 10 years, the gap is even starker: INSM returned +793. 5% versus IONS's +121. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

03

Which is safer — INSM or IONS?

By beta (market sensitivity over 5 years), Insmed Incorporated (INSM) is the lower-risk stock at 0.

54β versus Ionis Pharmaceuticals, Inc. 's 0. 55β — meaning IONS is approximately 1% more volatile than INSM relative to the S&P 500. On balance sheet safety, Insmed Incorporated (INSM) carries a lower debt/equity ratio of 104% versus 5% for Ionis Pharmaceuticals, Inc. — giving it more financial flexibility in a downturn.

04

Which is growing faster — INSM or IONS?

By revenue growth (latest reported year), Insmed Incorporated (INSM) is pulling ahead at 66.

7% versus 33. 9% for Ionis Pharmaceuticals, Inc. (IONS). On earnings-per-share growth, the picture is similar: Ionis Pharmaceuticals, Inc. grew EPS 21. 7% year-over-year, compared to -15. 1% for Insmed Incorporated. Over a 3-year CAGR, INSM leads at 35. 2% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

05

Which has better profit margins — INSM or IONS?

Ionis Pharmaceuticals, Inc.

(IONS) is the more profitable company, earning -40. 4% net margin versus -210. 5% for Insmed Incorporated — meaning it keeps -40. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: IONS leads at -40. 5% versus -194. 0% for INSM. At the gross margin level — before operating expenses — IONS leads at 98. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

06

Which pays a better dividend — INSM or IONS?

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

07

Is INSM or IONS better for a retirement portfolio?

For long-horizon retirement investors, Insmed Incorporated (INSM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.

54), +793. 5% 10Y return). Both have compounded well over 10 years (INSM: +793. 5%, IONS: +121. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

08

What are the main differences between INSM and IONS?

Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

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  • Market Cap > $100B
  • Revenue Growth > 43%
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