Last 47 quarters of trend data · Healthcare · Cell & Gene Therapy
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -11.55 | — | — | — | — | 14.53 | — | — | — | — | — | — | — | — | — | — | — | — | — | 5.40 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 7.50 | 12.24 | 12.58 | 15.78 | 16.78 | 3.98 | 9.10 | 6.09 | 11.12 | 7.72 | 13.20 | 5.61 | 11.27 | 7.79 | 9.77 | 8.83 | 9.82 | 9.81 | 9.24 | 2.77 | 8.89 |
| — | +207.2% | +38.3% | +159.0% | +50.9% | -48.4% | -31.1% | +8.6% | -1.3% | -0.9% | +35.1% | -36.4% | +14.7% | -20.6% | +5.8% | +219.1% | +10.5% | -12.3% | -34.8% | -59.4% | -14.1% | |
| P/B Ratio | 12.90 | 29.83 | 25.19 | 26.20 | 17.02 | 11.40 | 10.07 | 9.39 | 8.99 | 26.38 | 21.28 | 18.84 | 20.61 | 13.71 | 10.48 | 9.36 | 10.56 | 8.40 | 7.39 | 6.31 | 8.92 |
| — | +161.6% | +150.3% | +179.1% | +89.4% | -56.8% | -52.7% | -50.2% | -56.4% | +92.4% | +102.9% | +101.2% | +95.1% | +63.1% | +41.8% | +48.4% | +18.4% | -12.9% | -20.5% | -40.8% | +116.2% | |
| P/FCF | — | 5.97 | — | — | — | 13.14 | — | — | — | — | — | 54.07 | — | — | — | — | — | — | — | 6.10 | — |
| — | -54.6% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -71.9% | — | |
| EV / EBITDA | — | — | — | — | — | 14.33 | — | — | — | — | — | — | — | — | — | — | — | — | — | 5.82 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | 14.38 | — | — | — | — | — | 115.30 | — | — | — | — | — | — | — | 5.91 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.3% | 99.0% | 98.8% | 96.1% | 98.5% | 99.1% | 98.9% | 98.3% | 99.2% | 98.2% | 98.2% | 99.1% | 98.5% | 98.7% | 99.0% | 97.6% | 99.1% | 96.5% | 97.1% | 99.5% | 97.7% |
| — | -0.1% | -0.1% | -2.3% | -0.7% | +0.9% | +0.7% | -0.8% | +0.7% | -0.5% | -0.8% | +1.5% | -0.6% | +2.3% | +2.0% | -1.9% | +1.4% | -1.2% | -0.6% | +0.6% | -0.4% | |
| Operating Margin | -40.5% | -38.2% | -47.7% | -105.9% | -102.2% | 30.9% | -111.6% | -48.9% | -111.1% | -29.3% | -125.1% | -1.9% | -99.3% | -47.9% | -87.5% | -137.0% | -37.0% | -63.9% | -40.5% | 50.1% | -64.5% |
| — | -223.4% | +57.2% | -116.5% | +8.0% | +205.4% | +10.8% | -2492.2% | -11.8% | +38.7% | -43.1% | +98.6% | -168.3% | +25.1% | -115.8% | -373.2% | +42.6% | -10.1% | +50.8% | +742.1% | -182.6% | |
| Net Margin | -40.4% | -42.8% | -37.6% | -112.8% | -82.1% | 27.3% | -111.6% | -46.1% | -105.0% | -29.4% | -119.5% | -2.9% | -102.2% | -45.3% | -95.2% | -34.5% | -29.4% | -78.6% | -45.9% | 51.0% | -62.0% |
| — | -256.5% | +66.3% | -144.9% | +21.8% | +192.9% | +6.6% | -1513.4% | -2.7% | +35.0% | -25.5% | +91.7% | -247.5% | +42.4% | -107.4% | -167.6% | +52.5% | -22.2% | +43.0% | +143.5% | -305.4% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -70.7% | -24.6% | -18.9% | -41.4% | -20.6% | 22.3% | -27.6% | -16.7% | -30.3% | -23.7% | -41.8% | -2.6% | -39.6% | -18.6% | -23.5% | -9.0% | -7.7% | -15.8% | -8.8% | 34.5% | -14.8% |
| — | -210.4% | +31.7% | -148.0% | +32.2% | +194.3% | +33.9% | -532.4% | +23.5% | -26.9% | -78.1% | +70.6% | -414.2% | -18.3% | -166.7% | -126.0% | +48.0% | -23.1% | +30.3% | +219.1% | -869.2% | |
| ROA | -11.7% | -3.6% | -2.7% | -7.0% | -4.3% | 4.3% | -5.1% | -3.4% | -4.9% | -2.4% | -5.0% | -0.3% | -5.0% | -2.9% | -4.6% | -2.1% | -1.9% | -4.2% | -2.5% | 8.9% | -3.4% |
| — | -183.5% | +47.5% | -103.7% | +12.2% | +275.4% | -1.8% | -996.8% | +2.5% | +16.6% | -8.2% | +85.2% | -159.1% | +31.1% | -80.6% | -123.7% | +42.6% | -24.0% | +34.4% | +172.0% | -323.7% | |
| ROIC | -12.8% | -3.2% | -3.5% | -7.2% | -6.8% | 5.3% | -5.6% | -4.7% | -7.0% | -3.5% | -7.9% | -0.3% | -6.3% | -4.5% | -5.3% | -9.8% | -3.1% | -4.7% | -3.4% | 14.2% | -5.2% |
| — | -159.0% | +38.2% | -52.5% | +2.5% | +251.2% | +29.3% | -1629.0% | -11.7% | +20.8% | -48.2% | +97.2% | -99.7% | +5.6% | -57.5% | -169.4% | +39.7% | -6.8% | +40.2% | +1365.1% | -244.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 5.35 | 5.50 | 4.15 | 5.35 | 2.41 | 2.25 | 4.12 | 2.41 | 2.18 | 5.47 | 4.87 | 3.76 | 6.26 | 3.48 | 2.80 | 2.39 | 2.06 | 1.96 | 1.72 | 1.62 | 2.42 |
| — | +144.7% | +0.9% | +122.0% | +10.4% | -58.9% | -15.5% | -35.9% | -65.1% | +57.3% | +74.1% | +57.3% | +203.9% | +77.7% | +62.4% | +47.4% | -14.7% | -10.9% | +28.8% | +32.6% | +382.3% | |
| Debt / EBITDA | — | — | — | — | — | 9.77 | — | — | — | — | — | — | — | — | — | — | — | — | — | 5.55 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 3.83 | 7.88 | 4.10 | 3.83 | 2.79 | 2.87 | 9.66 | 8.47 | 8.91 | 7.61 | 7.37 | 5.90 | 6.39 | 9.09 | 9.81 | 7.07 | 7.59 | 8.18 | 9.86 | 9.75 | 7.71 |
| — | +174.5% | -57.6% | -54.8% | -68.7% | -62.2% | +31.1% | +43.7% | +39.4% | -16.3% | -24.8% | -16.6% | -15.8% | +11.1% | -0.5% | -27.5% | -1.5% | +7.4% | +46.3% | +174.0% | -25.7% | |
| Quick Ratio | 3.81 | 7.72 | 4.09 | 3.81 | 2.78 | 2.86 | 9.62 | 8.43 | 8.82 | 7.51 | 7.28 | 5.88 | 6.33 | 9.00 | 9.72 | 7.00 | 7.52 | 8.11 | 9.76 | 9.65 | 7.62 |
| — | +169.8% | -57.5% | -54.8% | -68.5% | -61.9% | +32.1% | +43.4% | +39.3% | -16.5% | -25.1% | -16.0% | -15.8% | +11.0% | -0.4% | -27.4% | -1.4% | +7.6% | +46.4% | +173.9% | -25.9% | |
| Interest Coverage | -3.39 | -4.92 | -3.35 | -9.26 | -4.87 | 6.36 | -5.47 | -3.75 | -5.41 | -1.91 | -5.53 | 0.81 | -5.48 | -2.88 | -5.67 | -25.38 | -21.46 | -47.92 | -29.81 | 99.24 | -35.42 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying IONS stock.
Ionis Pharmaceuticals, Inc.'s current P/E is -11.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Ionis Pharmaceuticals, Inc.'s current operating margin is -40.5%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Ionis Pharmaceuticals, Inc.'s business trajectory between earnings reports.