Halozyme Therapeutics vs Insmed
Halozyme Therapeutics is the larger business, with $1.40bn of revenue in fiscal 2025 against $606m for Insmed (2.3 times as much). Insmed grew faster (66.7% against 37.6%). Halozyme Therapeutics kept more of each dollar of sales as profit: a net margin of 22.7% against -210.5%.
| Latest fiscal year | Halozyme TherapeuticsHALO, 2025 | InsmedINSM, 2025 |
|---|---|---|
| Revenue | $1.40bn | $606m |
| Revenue growth | 37.6% | 66.7% |
| Net income | $317m | −$1.28bn |
| Operating margin | — | -205.6% |
| Net margin | 22.7% | -210.5% |
| Return on equity | 153.6% | — |
| Free cash flow | $645m | −$968m |
| Cash | $134m | $510m |
| Total debt | $2.18bn | $547m |
| Debt to equity | — | 74.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $342m | — |
| Employees | 423 | 1,664 |
| Market value | $14.77bn | $23.17bn |
| Price vs our value range | Below our value range | — |
| Moat score | 71 (Strong) | 24 (Weak) |
| Insider trades, 12 months | 0 buys, 105 sales | 0 buys, 169 sales |