INSM
Insmed Incorporated
INSM offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has the edge over INSM overall, supported by lower modeled downside and stronger modeled upside.
INSM Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Under pressure | |
| Unavailable |
INSM's revenue is currently strong, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
UNH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
UNH's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
INSM PE Valuation
INSM has no meaningful PE right now: it lost money over the past year.
UNH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $405 | — |
| Cheap | 19x | $325 | -20% |
| Fair | 23x | $410 | +1.2% |
| Current | 23x | $405 | — |
| Expensive | 30x | $526 | +30% |
Historical ranges are pointers, not guarantees.
UNH's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
INSM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
INSM has the edge over UNH on the outlook, with more favorable revenue expectations.
UNH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| Low |
Analysts expect UNH's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
INSM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.83 | +$3.34 |
| Q2 2026 | -$4.12 | +$1.57 |
| Q1 2026 | -$5.76 | +$0.17 |
| Q4 2025 | -$6.42 | -$0.85 |
| Q3 2025 | -$6.17 | -$0.62 |
| Q2 2025 | -$5.69 | -$0.30 |
| Q1 2025 | -$5.93 | -$0.70 |
| Q4 2024 | -$5.57 | -$0.23 |
INSM lost $2.83 per share over the past year, a smaller loss than the year before.
UNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $22.65 | +29% |
| Q3 2026 | $17.55 | -8.5% |
| Q2 2026 | $15.58 | -33% |
| Q1 2026 | $13.28 | -44% |
| Q4 2025 | $13.23 | -15% |
| Q3 2025 | $19.17 | +25% |
| Q2 2025 | $23.09 | +53% |
| Q1 2025 | $23.89 | +46% |
| Q4 2024 | $15.51 | -35% |
UNH has the edge over INSM on earnings quality, reporting a profit while its opponent remains loss making.
INSM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $524.4M | +268% |
| Q2 2026 | $425.5M | +296% |
| Q1 2026 | $306M | +230% |
| Q4 2025 | $263.8M | +153% |
| Q3 2025 | $142.3M | +52% |
| Q2 2025 | $107.4M | +19% |
| Q1 2025 | $92.8M | +23% |
| Q4 2024 | $104.4M | +25% |
INSM has the edge over UNH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -17% | +240 points |
| Q2 2026 | -0.4% | +291 points |
| Q1 2026 | -50% | +217 points |
| Q4 2025 | -121% | +99 points |
| Q3 2025 | -257% | -29 points |
| Q2 2025 | -291% | +29 points |
| Q1 2025 | -267% | -75 points |
| Q4 2024 | -221% | -7.6 points |
INSM's operating margin was −17% last quarter, up 240 points from the same quarter a year ago, near the top of its range since 2019.
UNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.7B | -0.4% |
| Q2 2026 | $112B | +0.4% |
| Q1 2026 | $111.7B | +2% |
| Q4 2025 | $113.2B | +12% |
| Q3 2025 | $113.2B | +12% |
| Q2 2025 | $111.6B | +13% |
| Q1 2025 | $109.6B | +9.8% |
| Q4 2024 | $100.8B | +6.8% |
UNH's revenue has held roughly level: $113B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | +2 points |
| Q2 2026 | 7.1% | +2.5 points |
| Q1 2026 | 8.1% | -0.3 points |
| Q4 2025 | 0.3% | -7.4 points |
| Q3 2025 | 3.8% | -4.8 points |
| Q2 2025 | 4.6% | -3.4 points |
| Q1 2025 | 8.3% | +0.4 points |
| Q4 2024 | 7.7% | -0.4 points |
UNH has the edge over INSM on profitability, with a higher operating margin.
INSM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$42.1M | +$180.1M |
| Q2 2026 | -$95.1M | +$114M |
| Q1 2026 | -$226.2M | +$45.9M |
| Q4 2025 | -$264.2M | -$61.4M |
| Q3 2025 | -$222.2M | -$37.6M |
| Q2 2025 | -$209.1M | -$79.3M |
| Q1 2025 | -$272.2M | -$83.4M |
| Q4 2024 | -$202.8M | -$69.8M |
INSM has burned cash in almost every quarter: −$628M over the past year, against −$906M the year before.
UNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.3B | -16% |
| Q2 2026 | $10.3B | +63% |
| Q1 2026 | $8.1B | +79% |
| Q4 2025 | $160M | -89% |
| Q3 2025 | $5.1B | -61% |
| Q2 2025 | $6.3B | +6.9% |
| Q1 2025 | $4.6B | +1037% |
| Q4 2024 | $1.5B | +$7.6B |
UNH has the edge over INSM on cash generation, producing positive trailing cash flow while its opponent burns cash.
INSM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +1.4M shares |
| 1 year | +3.3% | +7M shares |
| 3 years | +53% | +75.9M shares |
| 5 years | +87% | +102M shares |
| Available history | +159% | +134M shares |
INSM has 219M diluted shares, up 3.3% from a year ago.
UNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -4M shares |
| 1 year | -0.7% | -6M shares |
| 3 years | -3.6% | -34M shares |
| 5 years | -5.5% | -53M shares |
| Available history | -6.6% | -64M shares |
UNH has the edge over INSM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.4B |
| Q2 2026 | $1.6B |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.5B |
| Q1 2025 | $3B |
| Q4 2024 | $5B |
UNH spent $5B buying back its own shares over the past year, down 52% from the year before.
INSM Net Leverage
INSM's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
UNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
UNH's net debt is about 1.7 years of its operating earnings (EBITDA), about the same as a year ago.
INSM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.8 | Neutral |
| Stochastic | 50.6 | Neutral |
INSM's weekly RSI is 51 (neutral) and its Stochastic is 51 (neutral).
UNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 60.0 | Neutral |
UNH's weekly RSI is 56 (neutral) and its Stochastic is 60 (neutral).
INSM PE vs Healthcare Sector
INSM has no meaningful PE right now: it lost money over the past year.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH is trading at 23x earnings, a 11% discount to the Healthcare sector's median of 26x.
INSM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $108.0 | 9.3% above |
| 20 week MA | $114.0 | 3.6% above |
| 50 week MA | $131.6 | 10% below |
| 100 week MA | $119.3 | 1% below |
| 200 week MA | $78.3 | 51% above |
INSM's trend is mixed: it's above three of its five weekly moving averages, and 51% above its 200-week average.
UNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $394.2 | 2.8% above |
| 20 week MA | $400.5 | 1.2% above |
| 50 week MA | $361.2 | 12% above |
| 100 week MA | $376.0 | 7.8% above |
| 200 week MA | $446.6 | 9.3% below |
UNH has the edge over INSM on trend strength, trading above more of its moving averages.
INSM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $23.7 | $35.4 | +49% |
| 2021 | $35.4 | $28.3 | -20% |
| 2022 | $28.3 | $19.4 | -32% |
| 2023 | $19.4 | $31.0 | +60% |
| 2024 | $31.0 | $69.6 | +125% |
| 2025 | $69.6 | $177.9 | +156% |
| 2026 YTD | $177.9 | $118.1 | -34% |
INSM is down 34% so far in 2026, after finishing higher in four of the previous six years.
UNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $296.0 | $340.8 | +15% |
| 2021 | $340.8 | $495.4 | +45% |
| 2022 | $495.4 | $531.3 | +7.3% |
| 2023 | $531.3 | $526.5 | -0.9% |
| 2024 | $526.5 | $510.0 | -3.1% |
| 2025 | $510.0 | $331.8 | -35% |
| 2026 YTD | $331.8 | $405.1 | +22% |
UNH has the edge over INSM on returns for 2026, with the stronger performance.