IONIS PHARMACEUTICALS INC
IONS· Nasdaq· Pharmaceutical Preparations
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- -33.9%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +5.3%
We record prices for the companies we cover; IONS is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 160.0M
- Revenue
- $943.7M
- Free cash flow
- -$320.0M
- Owner earnings
- -$453.9M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- -40.4%
- Net
- -40.4%
- Free cash flow
- -33.9%
- Owner earnings
- -48.1%
- Stock pay
- 14.2%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- -78.0%
- ROE, 5 yr avg
- -60.1%
Growth (CAGR)
- Revenue, 3 yr
- 17.1%
- Revenue, 5 yr
- 5.3%
- Revenue, 9 yr
- 10.9%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $2.7B
- Total debt
- $1.8B
- Net cash
- $917.3M
- Debt/Equity
- 3.6x
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 2.8%
Financials: ten years from the 10-Ks
Revenue
$943.7M
+10.9% a year over 9 years
FY2016FY2025
Margins
Operating-40.4%Net-40.4%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow-$320.0MOwner earnings-$453.9M
FY2025
FY2016FY2025
Diluted shares
160.0M
+32.3% over 9 years, net dilution
FY2016FY2025
Net cash
$917.3M
$917.3M more cash than debt
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $372.8M | $514.2M | $599.7M | $1.1B | $729.3M | $810.5M | $587.4M | $787.6M | $705.1M | $943.7M |
| Revenue growth | 31.4% | 37.9% | 16.6% | 87.2% | -35.0% | 11.1% | -27.5% | 34.1% | -10.5% | 33.8% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | -5.4% | 6.0% | -10.2% | 32.6% | -23.6% | -3.7% | -69.8% | -44.9% | -67.4% | -40.4% |
| Net income | -$60.4M | $346.0K | $273.7M | $278.1M | -$444.3M | -$28.6M | -$269.7M | -$366.3M | -$453.9M | -$381.4M |
| Net margin | -16.2% | 0.1% | 45.6% | 24.8% | -60.9% | -3.5% | -45.9% | -46.5% | -64.4% | -40.4% |
| Diluted EPS | $-0.50 | $0.15 | $2.07 | $1.90 | $-3.18 | $-0.20 | $-1.90 | $-2.56 | $-3.04 | $-2.38 |
| Return on invested capital? | – | – | – | – | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | -$112.1M | $174.1M | $602.9M | $345.6M | $35.9M | $30.8M | -$274.4M | -$307.5M | -$500.9M | -$268.6M |
| Capital expenditure | $7.1M | $34.8M | $13.6M | $30.9M | $35.1M | $12.0M | $15.7M | $23.8M | $45.3M | $51.4M |
| Free cash flow | -$119.2M | $139.4M | $589.3M | $314.7M | $772.0K | $18.8M | -$290.1M | -$331.3M | -$546.2M | -$320.0M |
| Stock-based compensation | $72.1M | $86.0M | $131.3M | $146.6M | $230.1M | $120.7M | $100.3M | $105.8M | $130.2M | $133.9M |
| Owner earnings? | -$191.3M | $53.4M | $458.0M | $168.1M | -$229.3M | -$101.8M | -$390.4M | -$437.1M | -$676.4M | -$453.9M |
| Free cash flow per share | $-0.99 | $1.11 | $4.40 | $2.05 | $0.01 | $0.13 | $-2.05 | $-2.31 | $-3.65 | $-2.00 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | – | $0 | $0 | $34.4M | $90.5M | $0 | $0 | – | – | – |
| Diluted shares | 120.9M | 126.1M | 134.1M | 153.2M | 139.6M | 141.0M | 141.8M | 143.2M | 149.5M | 160.0M |
| Share count change? | 1.0% | 4.3% | 6.3% | 14.3% | -8.8% | 1.0% | 0.6% | 0.9% | 4.4% | 7.0% |
| Balance sheet | ||||||||||
| Cash and equivalents | $84.7M | $129.6M | $278.8M | $683.3M | $397.7M | $869.2M | $276.5M | $399.3M | $242.1M | $372.3M |
| Short-term investments | $580.5M | $893.1M | $1.8B | $1.8B | $1.5B | $1.2B | $1.7B | $1.9B | $2.1B | $2.3B |
| Total debt | $500.5M | $533.1M | $568.2M | $0 | $308.8M | $0 | $1.2B | $1.2B | $1.2B | $1.8B |
| Net debt | -$164.7M | -$489.6M | -$1.5B | -$2.5B | -$1.6B | -$2.1B | -$811.0M | -$1.1B | -$1.1B | -$917.3M |
| Shareholders' equity | $99.6M | $281.0M | $1.0B | $1.5B | $743.3M | $771.7M | $572.9M | $386.7M | $588.4M | $489.1M |
Latest filings
| 2026-07-29 | 10-Q | Quarterly report |
| 2026-07-29 | 8-K | Earnings release |
| 2026-04-29 | 10-Q | Quarterly report |
| 2026-04-29 | 8-K | Earnings release |
| 2026-04-23 | DEF 14A | Proxy statement |
| 2026-02-26 | 10-K | Annual report |
| 2026-02-25 | 8-K | Earnings release |
| 2026-01-12 | 8-K | Earnings release |
| 2025-10-29 | 10-Q | Quarterly report |
| 2025-10-29 | 8-K | Earnings release |
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