A Business at a Glance
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IONIS PHARMACEUTICALS INC
IONS
$9.1B
Mkt Cap
$56.55
+1.22%
IONIS PHARMACEUTICALS INC (IONS) has a 5-year average return on invested capital (ROIC) of -18.7%. This is below average and may indicate limited pricing power.
IONIS PHARMACEUTICALS INC (IONS) has a market capitalization of $9.4B. It is classified as a mid-cap stock.
IONIS PHARMACEUTICALS INC (IONS) does not currently pay a regular dividend.
IONIS PHARMACEUTICALS INC (IONS) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
IONIS PHARMACEUTICALS INC (IONS) reported annual revenue of $944 million in its most recent fiscal year, based on SEC EDGAR filings.
IONIS PHARMACEUTICALS INC (IONS) has a net profit margin of -40.4%. The company is currently unprofitable.
IONIS PHARMACEUTICALS INC (IONS) generated $-320 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
For three decades, we have invented medicines that bring better futures to people with serious diseases. As a pioneer in RNA-targeted medicines with a deep understanding of disease biology and an industry-leading drug discovery technology, we are driven to deliver innovative, life-changing advances for patients. In the last year, we delivered on our strategy to create accelerating value for all our stakeholders. With two independent commercial launches now underway, we transitioned into a fully integrated commercial-stage biotechnology company. We currently have seven marketed medicines to treat serious diseases: TRYNGOLZA (olezarsen), DAWNZERA (donidalorsen), WAINUA (eplontersen), SPINRAZA (nusinersen), QALSODY (tofersen), TEGSEDI (inotersen) and WAYLIVRA (volanesorsen). Marketed Medicines ● TRYNGOLZA is approved in the United States, or U.S.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 318M | 944M | 705M | 788M | 587M | 810M |
| Net Income | -327M | -381M | -454M | -366M | -270M | -29M |
| EPS | $-1.98 | $-2.38 | $-3.04 | $-2.56 | $-1.90 | $-0.20 |
| Free Cash Flow | -971M | -320M | -546M | -331M | -290M | 19M |
| ROIC | -8.1% | -21.1% | -26.6% | -21.7% | -21.4% | -2.8% |
| Gross Margin | - | 98.3% | 98.4% | 98.8% | 97.6% | 98.7% |
| Debt/Equity | 0.88 | 4.15 | 2.33 | 3.67 | 2.38 | 0.03 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -352M | -382M | -475M | -354M | -410M | -30M |
| Operating Margin | -110.8% | -40.4% | -67.4% | -44.9% | -69.8% | -3.7% |
| ROE | -66.5% | -70.8% | -93.1% | -76.3% | -40.1% | -3.8% |
| Shares Outstanding | 166M | 160M | 149M | 143M | 142M | 143M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 214M | 284M | 347M | 508M | 600M | 1.1B | 729M | 810M | 587M | 788M | 705M | 944M | 318M |
| Gross Margin | N/A | N/A | 100.0% | 100.0% | 99.7% | 99.6% | 98.4% | 98.7% | 97.6% | 98.8% | 98.4% | 98.3% | N/A |
| R&D | 239M | 320M | 340M | 373M | 412M | 462M | 531M | 638M | N/A | 900M | 902M | 916M | 916M |
| SG&A | 20M | 37M | 49M | 108M | 245M | 287M | 354M | 186M | 150M | 233M | 267M | 394M | 468M |
| EBIT | -48M | -76M | -20M | 31M | -61M | 366M | -172M | -30M | -410M | -354M | -475M | -382M | -352M |
| Op. Margin | -22.3% | -26.7% | -5.8% | 6.1% | -10.2% | 32.6% | -23.6% | -3.7% | -69.8% | -44.9% | -67.4% | -40.4% | -110.8% |
| Net Income | -39M | -88M | -60M | 19M | 277M | 281M | -444M | -29M | -270M | -366M | -454M | -381M | -327M |
| Net Margin | -18.2% | -31.1% | -17.4% | 3.7% | 46.2% | 25.0% | -60.9% | -3.5% | -45.9% | -46.5% | -64.4% | -40.4% | -102.9% |
| Non-Recurring | 25M | 22M | 2.3M | 800K | 800K | 2.2M | 0 | 0 | -531K | -17M | -7.4M | 4.0M | 4.0M |
| Returns on Capital | |||||||||||||
| ROIC | -12.1% | -38.2% | -15.1% | 16.3% | 29.2% | 24.6% | -25.1% | -2.8% | -21.4% | -21.7% | -26.6% | -21.1% | -8.1% |
| ROE | -12.3% | -38.5% | -40.2% | 9.9% | 41.7% | 22.3% | -40.1% | -3.8% | -40.1% | -76.3% | -93.1% | -70.8% | -66.5% |
| ROA | -4.3% | -9.3% | -6.5% | 1.7% | 13.9% | 9.5% | -15.8% | -1.1% | -10.5% | -13.3% | -15.1% | -11.7% | -9.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 6.3M | 21M | -112M | 174M | 603M | 346M | 36M | 31M | -274M | -308M | -501M | -269M | -911M |
| Free Cash Flow | -1.2M | 13M | -119M | 139M | 589M | 315M | 772K | 19M | -290M | -331M | -546M | -320M | -971M |
| Owner Earnings | -31M | -45M | -193M | 80M | 459M | 185M | -210M | -108M | -391M | -426M | -643M | -415M | -1.2B |
| CapEx | 7.5M | 7.7M | 7.1M | 35M | 14M | 31M | 35M | 12M | 16M | 24M | 45M | 51M | 61M |
| Maint. CapEx | 6.4M | 7.0M | 9.0M | 8.3M | 13M | 14M | 15M | 18M | 17M | 13M | 12M | 12M | 110M |
| Growth CapEx | 1.1M | 708K | 0 | 26M | 1.1M | 16M | 20M | 0 | 0 | 11M | 33M | 39M | 0 |
| D&A | 6.4M | 7.0M | 9.0M | 8.3M | 13M | 14M | 15M | 18M | 17M | 13M | 12M | 12M | 110M |
| CapEx/OCF | 119.6% | 36.4% | N/A | 20.0% | 2.3% | 8.9% | 97.8% | 38.8% | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 34M | 91M | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.4% | 1.1% | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 31M | 59M | 72M | 86M | 131M | 147M | 230M | 121M | 100M | 106M | 130M | 134M | 147M |
| Debt Repayment | 11M | 9.1M | 7.1M | 3.6M | 0 | 13M | 0 | 62M | 0 | 488M | 45M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -743M | -786M | -164M | -488M | -1.5B | -1.7B | -1.1B | -2.1B | -625M | -911M | -924M | -645M | -1.5B |
| Cash & Equiv. | 143M | 129M | 85M | 130M | 279M | 683M | 398M | 869M | 276M | 399M | 242M | 372M | 1.9B |
| Long-Term Debt | 2.9M | 515K | 501M | 533M | 568M | 786M | 539M | N/A | 1.2B | 1.2B | 1.2B | 1.3B | 1.3B |
| Debt/Equity | 0.02 | 0.01 | 5.04 | 1.90 | 0.56 | 0.54 | 1.13 | 0.03 | 2.38 | 3.67 | 2.33 | 4.15 | 0.88 |
| Interest Coverage | -2.1 | -2.1 | -0.5 | 0.7 | -1.4 | 29.4 | -18.1 | -3.2 | -50.5 | -27.9 | -28.0 | -22.1 | -22.1 |
| Equity | 258M | 201M | 100M | 281M | 1.0B | 1.5B | 743M | 772M | 573M | 387M | 588M | 489M | 491M |
| Total Assets | 956M | 948M | 912M | 1.3B | 2.7B | 3.2B | 2.4B | 2.6B | 2.5B | 3.0B | 3.0B | 3.5B | 3.4B |
| Total Liabilities | 698M | 747M | 813M | 957M | 1.5B | 1.5B | 1.6B | 1.8B | 2.0B | 2.6B | 2.4B | 3.0B | 3.0B |
| Intangibles | N/A | N/A | 20M | 22M | 24M | 26M | 28M | 29M | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -1.0B | -1.1B | -1.2B | -1.2B | -967M | -708M | -1.1B | -1.2B | -1.4B | -1.8B | -2.2B | -2.6B | -2.7B |
| Working Capital | 721M | 688M | 664M | 925M | 1.9B | 2.4B | 1.5B | 2.1B | 1.9B | 2.2B | 2.3B | 2.2B | 2.2B |
| Current Assets | 837M | 837M | 798M | 1.2B | 2.2B | 2.7B | 2.1B | 2.3B | 2.2B | 2.6B | 2.6B | 3.0B | 2.9B |
| Current Liabilities | 115M | 149M | 134M | 244M | 280M | 273M | 599M | 241M | 312M | 448M | 309M | 782M | 717M |
| Per Share Data | |||||||||||||
| EPS | -0.33 | -0.74 | -0.50 | 0.15 | 2.07 | 1.90 | -3.18 | -0.20 | -1.90 | -2.56 | -3.04 | -2.38 | -1.98 |
| Owner EPS | -0.27 | -0.38 | -1.60 | 0.64 | 3.43 | 1.25 | -1.50 | -0.75 | -2.76 | -2.98 | -4.31 | -2.59 | -7.04 |
| Book Value | 2.18 | 1.68 | 0.82 | 2.24 | 7.84 | 9.96 | 5.32 | 5.40 | 4.04 | 2.70 | 3.94 | 3.05 | 2.96 |
| Cash Flow/Share | 0.05 | 0.18 | -0.93 | 1.39 | 4.51 | 2.34 | 0.26 | 0.22 | -1.93 | -2.15 | -3.36 | -1.68 | -1.31 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 118.1M | 119.3M | 120.8M | 125.3M | 133.8M | 147.7M | 139.8M | 143.0M | 142.0M | 143.1M | 149.3M | 160.2M | 165.9M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | 338.1 | 24.8 | 29.2 | N/A | N/A | N/A | N/A | N/A | N/A | -28.5 |
| P/FCF | N/A | 537.6 | N/A | 45.6 | 11.7 | 28.5 | N/A | 229.1 | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | 210.3 | N/A | 16.8 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 29.2 | 36.0 | 62.2 | 25.0 | 6.5 | 5.8 | 11.1 | 5.6 | 9.2 | 18.7 | 9.1 | 26.2 | 19.1 |
| Price/Sales | 22.5 | 24.9 | 12.5 | 13.4 | 10.6 | 8.2 | 10.4 | 7.3 | 9.3 | 7.5 | 9.1 | 8.0 | 29.5 |
| FCF Yield | -0.0% | 0.2% | -1.9% | 2.0% | 8.7% | 3.7% | 0.0% | 0.4% | -5.5% | -4.6% | -10.2% | -2.5% | -10.4% |
| Market Cap | 7.5B | 7.2B | 6.2B | 7.0B | 6.8B | 8.6B | 8.2B | 4.3B | 5.3B | 7.2B | 5.4B | 12.8B | 9.4B |
| Avg. Price | 40.88 | 59.18 | 36.07 | 49.69 | 48.23 | 64.91 | 54.19 | 41.24 | 38.58 | 41.23 | 43.20 | 47.27 | 56.55 |
| Year-End Price | 63.65 | 60.54 | 51.54 | 50.72 | 51.36 | 60.78 | 58.93 | 30.19 | 37.12 | 50.50 | 35.91 | 79.93 | 56.55 |
IONIS PHARMACEUTICALS INC passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 98.4%. At current prices, the estimated annualized return to fair value is -23.1%.
IONIS PHARMACEUTICALS INC (IONS) has a debt-to-equity ratio of 4.15. This indicates higher leverage, which may increase financial risk.
IONIS PHARMACEUTICALS INC (IONS) reported earnings per share (EPS) of $-2.38 in its most recent fiscal year.
IONIS PHARMACEUTICALS INC (IONS) has a return on equity (ROE) of -70.8%. A negative ROE may indicate losses or negative equity.
IONIS PHARMACEUTICALS INC (IONS) has a 5-year average gross margin of 98.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for IONIS PHARMACEUTICALS INC (IONS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
IONIS PHARMACEUTICALS INC (IONS) has a book value per share of $3.05, based on its most recent annual SEC filing.