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Ionis Pharmaceuticals, Inc.(IONS)Earnings, Financials & Key Ratios
IONS•NASDAQ
$76.85
$12.7B mkt cap·Price updated May 6, 2026
AboutIonis Pharmaceuticals, Inc. discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy. It also develops medicines for various indications that are in phase 3 study, including Eplontersen as a monthly self-administered subcutaneous injection to treat all types of TTR amyloidosis; Olezarsen for patients with severe hypertriglyceridemia (SHTG); Donidalorsen for patients with hereditary angioedema; ION363 for patients with amyotrophic lateral sclerosis; Pelacarsen for patients with established cardiovascular disease and elevated lipoprotein(a); and Tofersen to inhibit the production of superoxide dismutase 1. In addition, the company develops medicines for metabolic diseases, infectious diseases, renal diseases, ophthalmic diseases, and cancer. It has a strategic collaboration with Biogen Inc.; and collaboration and license agreement with AstraZeneca, Bayer AG, GlaxoSmithKline plc, Novartis AG, Roche, Janssen Biotech, Inc., and Flamingo Therapeutics, Inc. Ionis Pharmaceuticals, Inc. was founded in 1989 and is based in Carlsbad, California.Show more
- Revenue$944M+33.9%
- EBITDA-$362M+20.2%
- Net Income-$381M+16.1%
- EPS (Diluted)-2.38+21.7%
- Gross Margin98.31%-0.1%
- EBITDA Margin-38.32%+40.4%
- Operating Margin-40.47%+39.9%
- Net Margin-40.36%+37.3%
- ROE-70.72%+24.0%
- ROIC-12.75%+42.7%
- Debt/Equity5.35+122.0%
- Interest Coverage-4.21-1.2%
IONS Key Insights
Ionis Pharmaceuticals, Inc. (IONS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
No significant strengths identified
✗Weaknesses
- ✗High debt to equity ratio of 5.3x
- ✗Weak Piotroski F-Score: 3/9
- ✗Negative free cash flow
- ✗Expensive at 25.1x book value
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
IONS Price & Volume
Ionis Pharmaceuticals, Inc. (IONS) stock price & volume — 10-year historical chart
Loading chart...
IONS Growth Metrics
Ionis Pharmaceuticals, Inc. (IONS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years12.77%
5 Years5.3%
3 Years17.14%
TTM47.49%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM28.7%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM30.1%
Return on Capital
10 Years-6.27%
5 Years-13.27%
3 Years-15.68%
Last Year-14.05%
IONS Recent Earnings
Ionis Pharmaceuticals, Inc. (IONS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 8/12 qtrs (73%)
Q2 2026Latest
Apr 29, 2026EPS
$0.56
Est $0.85
+34.1%
Revenue
$246M
Est $196M
+25.8%
Q1 2026
Feb 25, 2026EPS
$1.41
Est $1.24
-14.0%
Revenue
$203M
Est $156M
+30.1%
Q4 2025
Oct 29, 2025EPS
$0.61
Est $1.15
+47.0%
Revenue
$157M
Est $154M
+2.1%
Q3 2025
Jul 30, 2025EPS
$0.86
Est $0.27
+218.5%
Revenue
$452M
Est $132M
+243.1%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $0.56vs $0.85+34.1% | $246Mvs $196M+25.8% |
| Q1 2026 | Feb 25, 2026 | $1.41vs $1.24-14.0% | $203Mvs $156M+30.1% |
| Q4 2025 | Oct 29, 2025 | $0.61vs $1.15+47.0% | $157Mvs $154M+2.1% |
| Q3 2025 | Jul 30, 2025 | $0.86vs $0.27+218.5% | $452Mvs $132M+243.1% |
Based on last 12 quarters of dataView full earnings history →
IONS Peer Comparison
Ionis Pharmaceuticals, Inc. (IONS) competitors in RNA and Genome Editing Developers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 ALNY | 40.43B | 303.00 | 130.04 | 65.19% | 13.46% | 98.29% | 1.62 | |
 SRPT | 2.42B | 23.03 | -3.23 | 15.58% | 2.98% | 4.89% | 0.91 | |
 BMRN | 10.5B | 54.60 | 30.33 | 12.87% | 8.29% | 4.41% | 0.11 | |
 RARE | 2.55B | 25.93 | -4.45 | 20.13% | -91.03% | -6.08% | ||
 AKRO | 4.5B | 54.65 | -14.57 | -30.58% | 0.05 | |||
 ARWR | 11.08B | 79.14 | -6486.89 | 232.58% | 18.54% | 35.64% | 0.73 | |
 NTLA | 1.61B | 13.85 | -3.64 | -100% | -61.47% | 0.14 | ||
 BEAM | 3.32B | 32.33 | -39.92 | 120.01% | -57.24% | -7.31% | 0.24 |
Compare IONS vs Peers
Ionis Pharmaceuticals, Inc. (IONS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
IONS Income Statement
Ionis Pharmaceuticals, Inc. (IONS) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 514.18M | 599.67M | 1.12B | 729.26M | 810.46M | 587.37M | 787.65M | 705.14M | 944M | 1.06B |
| Revenue Growth % | 37.93% | 16.63% | 87.2% | -35.04% | 11.13% | -27.53% | 34.1% | -10.48% | 33.87% | 47.49% |
| Cost of Goods Sold | 0 | 1.82M | 4.38M | 11.95M | 10.84M | 14.12M | 9.13M | 11.21M | 16M | 17.47M |
| COGS % of Revenue | - | 0.3% | 0.39% | 1.64% | 1.34% | 2.4% | 1.16% | 1.59% | 1.69% | - |
| Gross Profit | 514.18M▲ 0% | 597.85M▲ 16.3% | 1.12B▲ 87.0% | 717.32M▼ 35.9% | 799.61M▲ 11.5% | 573.25M▼ 28.3% | 778.51M▲ 35.8% | 693.92M▼ 10.9% | 928M▲ 33.7% | 1.04B▲ 0% |
| Gross Margin % | 100% | 99.7% | 99.61% | 98.36% | 98.66% | 97.6% | 98.84% | 98.41% | 98.31% | 98.35% |
| Gross Profit Growth % | 37.93% | 16.27% | 87.04% | -35.85% | 11.47% | -28.31% | 35.81% | -10.87% | 33.73% | - |
| Operating Expenses | 483.13M | 659.23M | 752.33M | 889.4M | 829.8M | 983.44M | 1.13B | 1.17B | 1.31B | 1.39B |
| OpEx % of Revenue | 93.96% | 109.93% | 67.02% | 121.96% | 102.39% | 167.43% | 143.75% | 165.78% | 138.77% | - |
| Selling, General & Admin | 108.49M | 244.62M | 286.64M | 332.2M | 170.9M | 150.29M | 232.6M | 267.5M | 394M | 467.76M |
| SG&A % of Revenue | 21.1% | 40.79% | 25.53% | 45.55% | 21.09% | 25.59% | 29.53% | 37.94% | 41.74% | - |
| Research & Development | 374.64M | 414.6M | 466M | 535M | 643M | 833M | 899.63M | 901.53M | 916M | 925.39M |
| R&D % of Revenue | 72.86% | 69.14% | 41.51% | 73.36% | 79.34% | 141.82% | 114.22% | 127.85% | 97.03% | - |
| Other Operating Expenses | 0 | 0 | -312K | 22.2M | 15.9M | 147K | 19K | -26K | 0 | 31K |
| Operating Income | 31.05M▲ 0% | -61.37M▼ 297.7% | 365.88M▲ 696.2% | -172.08M▼ 147.0% | -30.19M▲ 82.5% | -410.19M▼ 1258.9% | -353.73M▲ 13.8% | -475.08M▼ 34.3% | -382M▲ 19.6% | -352.79M▲ 0% |
| Operating Margin % | 6.04% | -10.23% | 32.59% | -23.6% | -3.72% | -69.84% | -44.91% | -67.37% | -40.47% | -33.35% |
| Operating Income Growth % | 254% | -297.67% | 696.17% | -147.03% | 82.46% | -1258.88% | 13.76% | -34.31% | 19.59% | - |
| EBITDA | 39.4M | -48.84M | 381.88M | -154.92M | -10.63M | -388.09M | -331.23M | -453.09M | -361.75M | 4.47B |
| EBITDA Margin % | 7.66% | -8.15% | 34.02% | -21.24% | -1.31% | -66.07% | -42.05% | -64.26% | -38.32% | 422.99% |
| EBITDA Growth % | 454.06% | -223.98% | 881.83% | -140.57% | 93.14% | -3552.23% | 14.65% | -36.79% | 20.16% | 1092.84% |
| D&A (Non-Cash Add-back) | 8.35M | 12.53M | 15.99M | 17.16M | 19.56M | 22.11M | 22.5M | 21.99M | 20.25M | 4.83B |
| EBIT | 27.99M | -31.37M | 351.21M | -128.35M | -24.75M | -249.86M | -258.37M | -375.71M | -307M | -291.06M |
| Net Interest Income | -36.57M | -14.6M | 3.44M | 21.05M | 695K | 17.21M | 7.58M | 16.57M | -73M | -31.56M |
| Interest Income | 8.18M | 30.19M | 52.2M | 30.56M | 10.04M | 25.33M | 89.04M | 107.02M | 0 | 48.37M |
| Interest Expense | 44.75M | 44.79M | 48.77M | 9.51M | 9.35M | 8.12M | 81.46M | 90.45M | 73M | 79.93M |
| Other Income/Expense | -47.81M | -14.78M | -27.12M | 37.53M | 1.04M | 152.21M | 19.77M | 15.01M | 2M | 27.62M |
| Pretax Income | -16.76M▲ 0% | -76.16M▼ 354.3% | 338.77M▲ 544.8% | -134.55M▼ 139.7% | -29.15M▲ 78.3% | -257.99M▼ 785.1% | -333.96M▼ 29.5% | -460.07M▼ 37.8% | -380M▲ 17.4% | -325.17M▲ 0% |
| Pretax Margin % | -3.26% | -12.7% | 30.18% | -18.45% | -3.6% | -43.92% | -42.4% | -65.25% | -40.25% | -30.74% |
| Income Tax | -5.98M | -291.14M | 51.51M | 345.19M | -551K | 11.74M | 32.32M | -6.17M | 1M | 1.41M |
| Effective Tax Rate % | 35.67% | 382.3% | 15.2% | -256.55% | 1.89% | -4.55% | -9.68% | 1.34% | -0.26% | -0.43% |
| Net Income | 346K▲ 0% | 273.74M▲ 79015.9% | 278.14M▲ 1.6% | -444.26M▼ 259.7% | -28.6M▲ 93.6% | -269.72M▼ 843.2% | -366.29M▼ 35.8% | -453.9M▼ 23.9% | -381M▲ 16.1% | -326.58M▲ 0% |
| Net Margin % | 0.07% | 45.65% | 24.78% | -60.92% | -3.53% | -45.92% | -46.5% | -64.37% | -40.36% | -30.87% |
| Net Income Growth % | 100.57% | 79015.9% | 1.61% | -259.72% | 93.56% | -843.18% | -35.8% | -23.92% | 16.06% | 28.7% |
| Net Income (Continuing) | -10.78M | 214.99M | 287.26M | -479.74M | -28.6M | -269.72M | -366.29M | -453.9M | -381M | -326.58M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 84.27M | 139.08M | 213.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.05▲ 0% | 2.04▲ 4412.9% | 2.06▲ 1.0% | -3.18▼ 254.4% | -0.20▲ 93.7% | -1.90▼ 850.0% | -2.56▼ 34.7% | -3.04▼ 18.8% | -2.38▲ 21.7% | -1.98▲ 0% |
| EPS Growth % | 93.43% | 4412.9% | 0.98% | -254.37% | 93.71% | -850% | -34.74% | -18.75% | 21.71% | 30.1% |
| EPS (Basic) | -0.05 | 2.07 | 2.10 | -3.18 | -0.20 | -1.90 | -2.56 | -3.04 | -2.38 | - |
| Diluted Shares Outstanding | 126.1M | 134.06M | 142.87M | 139.61M | 141.02M | 141.85M | 143.19M | 149.51M | 160M | 164.87M |
| Basic Shares Outstanding | 124.02M | 132.32M | 140M | 139.61M | 141.02M | 141.85M | 143M | 149.51M | 160M | 164.87M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
IONS Balance Sheet
Ionis Pharmaceuticals, Inc. (IONS) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 1.17B | 2.21B | 2.72B | 2.13B | 2.35B | 2.2B | 2.64B | 2.62B | 2.99B | 2.94B |
| Cash & Short-Term Investments | 1.02B | 2.08B | 2.5B | 1.89B | 2.13B | 2B | 2.33B | 2.3B | 2.68B | 1.92B |
| Cash Only | 129.63M | 278.82M | 683.29M | 397.66M | 869.19M | 276.47M | 399.27M | 242.08M | 372.26M | 173.38M |
| Short-Term Investments | 893.09M | 1.81B | 1.82B | 1.49B | 1.26B | 1.72B | 1.93B | 2.06B | 2.31B | 1.75B |
| Accounts Receivable | 62.95M | 12.76M | 63.03M | 76.2M | 61.9M | 25.54M | 97.78M | 92.19M | 66M | 73.68M |
| Days Sales Outstanding | 44.69 | 7.77 | 20.49 | 38.14 | 27.88 | 15.87 | 45.31 | 47.72 | 25.52 | 18.74 |
| Inventory | 9.98M | 8.58M | 18.18M | 21.96M | 24.81M | 22.03M | 7.44M | 12.51M | 10.05M | 5.56M |
| Days Inventory Outstanding | - | 1.72K | 1.51K | 671.07 | 835.1 | 569.71 | 297.38 | 407.21 | 229.22 | 180.47 |
| Other Current Assets | 73.08M | 102.47M | 139.84M | 140.16M | 125.17M | 157.72M | 205.43M | 217.93M | 247M | 938.59M |
| Total Non-Current Assets | 154.04M | 459.9M | 512.51M | 259.05M | 266.64M | 331.18M | 348.22M | 383.38M | 533.2M | 513.02M |
| Property, Plant & Equipment | 121.91M | 132.16M | 153.65M | 181.08M | 196.04M | 255.84M | 242.94M | 256.11M | 362M | 377.46M |
| Fixed Asset Turnover | 4.22x | 4.54x | 7.31x | 4.03x | 4.13x | 2.30x | 3.24x | 2.75x | 2.61x | 3.10x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 22M | 24.03M | 25.67M | 27.94M | 29M | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 15.06M | 32.32M | 40.37M | 42.99M | 41.02M | 52.21M | 127.23M |
| Other Non-Current Assets | 10.13M | 12.91M | 27.63M | 34.97M | 9.27M | 34.97M | 62.29M | 86.25M | 119.39M | 478.01M |
| Total Assets | 1.32B▲ 0% | 2.67B▲ 101.7% | 3.23B▲ 21.2% | 2.39B▼ 26.1% | 2.61B▲ 9.3% | 2.53B▼ 3.0% | 2.99B▲ 18.0% | 3B▲ 0.5% | 3.52B▲ 17.3% | 3.45B▲ 0% |
| Asset Turnover | 0.39x | 0.22x | 0.35x | 0.31x | 0.31x | 0.23x | 0.26x | 0.23x | 0.27x | 0.33x |
| Asset Growth % | 44.97% | 101.68% | 21.19% | -26.09% | 9.29% | -2.98% | 18% | 0.45% | 17.32% | 49.33% |
| Total Current Liabilities | 243.61M | 280.29M | 273M | 598.9M | 240.55M | 311.56M | 448.09M | 309.32M | 781.57M | 716.59M |
| Accounts Payable | 24.89M | 28.66M | 16.07M | 17.2M | 11.9M | 17.92M | 26.03M | 42.96M | 28.08M | 26.03M |
| Days Payables Outstanding | - | 5.75K | 1.34K | 525.46 | 400.75 | 463.39 | 1.04K | 1.4K | 640.62 | 476.5 |
| Short-Term Debt | 1.62M | 13.75M | 2.03M | 308.81M | 3.53M | 7.54M | 53.16M | 9.28M | 453.15M | 432.5M |
| Deferred Revenue (Current) | 125.34M | 160.26M | 118.27M | 108.38M | 97.71M | 90.58M | 151.13M | 78.99M | 73.76M | 295.86M |
| Other Current Liabilities | 25.15M | 29.27M | 37.36M | 73.03M | 38.81M | 49.18M | 67.73M | 69.61M | 107.63M | 59.44M |
| Current Ratio | 4.80x | 7.88x | 9.97x | 3.56x | 9.75x | 7.07x | 5.90x | 8.47x | 3.83x | 3.83x |
| Quick Ratio | 4.76x | 7.85x | 9.90x | 3.52x | 9.65x | 7.00x | 5.88x | 8.43x | 3.81x | 3.81x |
| Cash Conversion Cycle | - | -4.02K | 196.42 | 183.75 | 462.23 | 122.19 | -697.48 | -943.36 | -385.88 | -277.29 |
| Total Non-Current Liabilities | 713.88M | 1.2B | 1.28B | 1.05B | 1.6B | 1.65B | 2.16B | 2.11B | 2.25B | 2.24B |
| Long-Term Debt | 592.88M | 628.06M | 769.96M | 600.12M | 1.23B | 1.18B | 1.23B | 1.25B | 1.9B | 1.35B |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 19.43M | 178.94M | 170.88M | 161.81M | 262.38M | 948.65M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 12.97M | 4.91M | 15.54M | 23.41M | 0 | 0 | 513.74M | 542.21M | 0 | 1.64B |
| Total Liabilities | 957.49M | 1.48B | 1.55B | 1.65B | 1.84B | 1.96B | 2.6B | 2.42B | 3.03B | 2.96B |
| Total Debt | 594.5M | 641.81M | 771.98M | 908.93M | 1.25B | 1.37B | 1.45B | 1.42B | 2.61B | 2.04B |
| Net Debt | 464.87M | 362.99M | 88.7M | 511.26M | 381.86M | 1.09B | 1.05B | 1.17B | 2.24B | 1.87B |
| Debt / Equity | 1.63x | 0.54x | 0.46x | 1.22x | 1.62x | 2.39x | 3.76x | 2.41x | 5.35x | 5.35x |
| Debt / EBITDA | 15.09x | - | 2.02x | - | - | - | - | - | - | 0.46x |
| Net Debt / EBITDA | 11.80x | - | 0.23x | - | - | - | - | - | - | 0.42x |
| Interest Coverage | 0.63x | -0.70x | 7.20x | -13.50x | -2.65x | -30.76x | -3.17x | -4.15x | -4.21x | -3.64x |
| Total Equity | 365.28M▲ 0% | 1.19B▲ 225.0% | 1.68B▲ 41.9% | 743.28M▼ 55.9% | 771.74M▲ 3.8% | 572.89M▼ 25.8% | 386.69M▼ 32.5% | 588.35M▲ 52.2% | 489.09M▼ 16.9% | 491.41M▲ 0% |
| Equity Growth % | 266.88% | 225% | 41.9% | -55.88% | 3.83% | -25.77% | -32.5% | 52.15% | -16.87% | 119.27% |
| Book Value per Share | 2.90 | 8.86 | 11.79 | 5.32 | 5.47 | 4.04 | 2.70 | 3.94 | 3.06 | 2.98 |
| Total Shareholders' Equity | 281.01M | 1.05B | 1.47B | 743.28M | 771.74M | 572.89M | 386.69M | 588.35M | 489.09M | 491.41M |
| Common Stock | 125K | 138K | 140K | 140K | 141K | 142K | 144K | 158K | 163K | 166K |
| Retained Earnings | -1.19B | -967.29M | -707.53M | -1.13B | -1.16B | -1.43B | -1.8B | -2.25B | -2.63B | -2.72B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -31.76M | -32.02M | -25.29M | -21.07M | -32.67M | -57.48M | -32.65M | -30.81M | -25.28M | -31.02M |
| Minority Interest | 84.27M | 139.08M | 213.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
IONS Cash Flow Statement
Ionis Pharmaceuticals, Inc. (IONS) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 174.15M | 602.89M | 345.72M | 35.89M | 30.8M | -274.37M | -307.51M | -500.95M | -268.58M | -268.58M |
| Operating CF Margin % | 33.87% | 100.54% | 30.8% | 4.92% | 3.8% | -46.71% | -39.04% | -71.04% | -28.45% | - |
| Operating CF Growth % | 255.34% | 246.19% | -42.66% | -89.62% | -14.19% | -990.84% | -12.08% | -62.9% | 46.38% | -232.46% |
| Net Income | -17.3M | 214.99M | 303.26M | -486.77M | -28.6M | -269.72M | -366.29M | -453.9M | -381.39M | -326.58M |
| Depreciation & Amortization | 8.35M | 12.53M | 15.99M | 17.16M | 19.56M | 22.11M | 22.5M | 19.65M | 22.69M | 31.43M |
| Stock-Based Compensation | 85.97M | 131.31M | 146.57M | 230.12M | 120.68M | 100.26M | 105.81M | 130.2M | 0 | 104.11M |
| Deferred Taxes | 14.07M | -290.52M | -7.1M | 313.27M | 25.31M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 39.5M | 35.17M | 55.69M | 35.66M | 7.67M | -134.59M | 7.73M | 12.49M | 141.32M | -54.49M |
| Working Capital Changes | 43.56M | 499.41M | -168.71M | -73.56M | -113.82M | 7.57M | -77.26M | -209.39M | -51.22M | -665.09M |
| Change in Receivables | 15.72M | 514K | -44.18M | -22M | 5.05M | 36.36M | -72.06M | 5.59M | 26.13M | -101.56M |
| Change in Inventory | -2.49M | 1.4M | -5.41M | -1.26M | -2.84M | 2.77M | -6.39M | -5.07M | -13.67M | 254K |
| Change in Payables | 1.78M | -655K | -16.34M | -2.75M | -6M | 1.09M | 8.12M | 15.99M | -15.36M | 36.63M |
| Cash from Investing | -358.29M | -929.56M | -41.27M | 274.48M | 194.91M | -262.64M | -214.13M | -134.03M | -277.78M | 88.58M |
| Capital Expenditures | -37.86M | -17.65M | -36.28M | -41.05M | -17.9M | -20.1M | -23.8M | -45.28M | -51.44M | -61.99M |
| CapEx % of Revenue | 7.36% | 2.94% | 3.23% | 5.63% | 2.21% | 3.42% | 3.02% | 6.42% | 5.45% | - |
| Acquisitions | 2.51M | 4.04M | 5.38M | 5.93M | 5.95M | 254.08M | 22K | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -323.53M | -4.04M | -5.38M | -5.93M | -5.95M | 0 | -4.21M | -5.06M | -5.64M | -5.11M |
| Cash from Financing | 229.09M | 475.87M | 100.02M | -596.61M | 245.93M | -55.3M | 644.08M | 478.06M | 675.84M | 730.9M |
| Debt Issued (Net) | -23.98M | 0 | 97M | 0 | 313.57M | -50.69M | 86.9M | -44.67M | 483.24M | 483.23M |
| Equity Issued (Net) | 255.11M | 475.87M | 85.27M | -103.96M | 85.71M | 6.37M | 49.44M | 522.73M | 192.6M | 247.66M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -34.39M | -90.55M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -2.04M | 0 | -82.24M | -492.65M | -153.34M | -10.98M | 507.74M | 0 | 0 | 0 |
| Net Change in Cash | 44.95M▲ 0% | 149.19M▲ 231.9% | 404.47M▲ 171.1% | -285.62M▼ 170.6% | 471.53M▲ 265.1% | -592.72M▼ 225.7% | 122.79M▲ 120.7% | -157.19M▼ 228.0% | 130.18M▲ 182.8% | -90.81M▲ 0% |
| Free Cash Flow | 136.29M▲ 0% | 585.24M▲ 329.4% | 309.44M▼ 47.1% | -5.16M▼ 101.7% | 12.9M▲ 350.2% | -294.47M▼ 2383.1% | -335.52M▼ 13.9% | -546.23M▼ 62.8% | -320.03M▲ 41.4% | -971.26M▲ 0% |
| FCF Margin % | 26.51% | 97.59% | 27.56% | -0.71% | 1.59% | -50.13% | -42.6% | -77.46% | -33.9% | -91.81% |
| FCF Growth % | 210.24% | 329.4% | -47.13% | -101.67% | 350.16% | -2383.06% | -13.94% | -62.8% | 41.41% | -70.64% |
| FCF per Share | 1.08 | 4.37 | 2.17 | -0.04 | 0.09 | -2.08 | -2.34 | -3.65 | -2.00 | -2.00 |
| FCF Conversion (FCF/Net Income) | 503.32x | 2.20x | 1.24x | -0.08x | -1.08x | 1.02x | 0.84x | 1.10x | 0.70x | 2.97x |
| Interest Paid | 0 | 0 | 9.87M | 6.25M | 4.78M | 2.9M | 6.51M | 0 | 0 | 5.31M |
| Taxes Paid | 0 | 0 | 9.04M | 25.86M | 38K | 5.01M | 48.33M | 0 | 0 | 371K |
IONS Key Ratios
Ionis Pharmaceuticals, Inc. (IONS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 0.15% | 35.27% | 19.37% | -36.6% | -3.78% | -40.12% | -76.34% | -93.1% | -70.72% | -58.57% |
| Return on Invested Capital (ROIC) | 3.28% | -3.87% | 16.51% | -8.53% | -1.88% | -21.82% | -17.08% | -22.24% | -12.75% | -12.75% |
| Gross Margin | 100% | 99.7% | 99.61% | 98.36% | 98.66% | 97.6% | 98.84% | 98.41% | 98.31% | 98.35% |
| Net Margin | 0.07% | 45.65% | 24.78% | -60.92% | -3.53% | -45.92% | -46.5% | -64.37% | -40.36% | -30.87% |
| Debt / Equity | 1.63x | 0.54x | 0.46x | 1.22x | 1.62x | 2.39x | 3.76x | 2.41x | 5.35x | 5.35x |
| Interest Coverage | 0.63x | -0.70x | 7.20x | -13.50x | -2.65x | -30.76x | -3.17x | -4.15x | -4.21x | -3.64x |
| FCF Conversion | 503.32x | 2.20x | 1.24x | -0.08x | -1.08x | 1.02x | 0.84x | 1.10x | 0.70x | 2.97x |
| Revenue Growth | 37.93% | 16.63% | 87.2% | -35.04% | 11.13% | -27.53% | 34.1% | -10.48% | 33.87% | 47.49% |
IONS SEC Filings & Documents
Ionis Pharmaceuticals, Inc. (IONS) SEC filings — annual & quarterly reports (10-K, 10-Q)
IONS Frequently Asked Questions
Ionis Pharmaceuticals, Inc. (IONS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Ionis Pharmaceuticals, Inc. (IONS) reported $1.06B in revenue for fiscal year 2025. This represents a 4560% increase from $22.7M in 1996.
Ionis Pharmaceuticals, Inc. (IONS) grew revenue by 33.9% over the past year. This is strong growth.
Ionis Pharmaceuticals, Inc. (IONS) reported a net loss of $326.6M for fiscal year 2025.
Dividend & Returns
Ionis Pharmaceuticals, Inc. (IONS) has a return on equity (ROE) of -70.7%. Negative ROE indicates the company is unprofitable.
Ionis Pharmaceuticals, Inc. (IONS) had negative free cash flow of $971.3M in fiscal year 2025, likely due to heavy capital investments.
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