Friday 6 November 2026 Export IONS’s income statement to Excel — free account

Ionis Pharmaceuticals, Inc.

Ionis Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $943.7 million, up 33.8% from fiscal 2024.

Revenue: −40.7%
EPS: −188.5%
Free cash flow: +299.3%
Total debt: +116.0%

Quarter to June 2026, against a year earlier

Insider buying

39.48 0.68 +1.75%

Follow IONS

Alert me

Market cap: $6.5B
P/E: 0.0×
Fwd P/E: −12.2×
Dividend yield: —
F-score: 4/9
Altman Z: 2.12
Beneish M: −3.13
Dividend safety: n/a

Overview Business Profile Segments Valuation Filings

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	0.00	723.20	27.17	28.50	0.00	0.00	0.00	0.00	0.00	0.00
Piotroski F-Score Full definition →	3	6	6	6	4	6	1	4	2	4
P/S ratio Full definition →	15.36	11.88	11.93	7.53	10.82	5.29	9.08	9.61	7.41	13.41
Altman Z-Score Full definition →	3.67	3.90	3.41	4.60	3.05	2.02	1.44	1.58	0.89	2.12
P/FCF ratio Full definition →	0.00	44.81	12.22	27.34	0.00	367.72	0.00	0.00	0.00	0.00
Altman Z″-Score (non-manufacturers) Full definition →	0.53	2.09	4.25	6.16	2.65	4.20	2.28	2.22	1.80	1.12
Beneish M-Score Full definition →	3.85	(3.38)	(2.12)	0.08	(3.69)	(2.69)	(2.38)	(0.61)	(2.46)	(3.13)
P/Operating CF Full definition →	(213.31)	299.39	61.93	30.44	80.57	21.07	(26.63)	230.35	(45.01)	(91.92)
P/B ratio Full definition →	57.50	16.72	6.03	5.02	10.62	5.56	9.30	19.58	8.88	25.88
Price to Tangible BV Full definition →	72.29	17.79	6.15	5.10	11.03	5.78	9.81	21.20	9.35	27.55
EV/Sales Full definition →	14.96	11.07	9.53	6.01	9.52	4.21	7.72	8.27	5.98	12.46
EV/EBITDA Full definition →	202.83	69.13	0.00	17.88	0.00	281.50	0.00	0.00	0.00	0.00
EV/Operating CF Full definition →	(49.74)	32.69	9.48	19.52	193.38	110.67	(16.53)	(21.18)	(8.42)	(43.79)
EV/FCF Full definition →	(45.11)	41.77	9.77	21.81	(1,346.18)	292.06	(108.29)	(19.41)	(7.65)	(36.11)
Quick Ratio Full definition →	5.78	4.46	7.48	9.39	3.29	9.05	6.46	5.42	7.73	3.51
Current Ratio Full definition →	5.96	4.80	7.88	9.97	3.56	9.75	7.07	5.90	8.47	3.83
Net Debt/EBITDA Full definition →	(5.40)	(5.04)	97.89	(4.54)	6.80	(72.92)	2.12	2.99	2.17	2.39
Debt/Assets Full definition →	56.63%	45.92%	24.24%	24.36%	39.32%	47.18%	46.99%	42.60%	41.47%	50.50%
Debt/Equity Full definition →	5.19	1.66	0.54	0.47	1.26	1.60	2.08	3.29	2.12	3.64
Asset Turnover Full definition →	0.40	0.46	0.30	0.38	0.26	0.32	0.23	0.29	0.24	0.29
Operating CF/Net income Full definition →	1.86	503.32	2.20	1.24	(0.08)	(1.08)	1.02	0.84	1.10	0.70
Capex/Depreciation Full definition →	(0.24)	(0.74)	(0.38)	(3.17)	(1.29)	(0.42)	6.71	491.04	5.56	(9.73)
Interest Coverage Full definition →	(0.52)	0.69	(1.37)	29.41	(18.09)	(3.23)	(50.50)	(4.34)	(5.25)	(4.22)
ROE Full definition →	(40.22%)	0.15%	35.27%	19.37%	(36.60%)	(3.78%)	(40.12%)	(76.34%)	(93.10%)	(70.80%)
ROA Full definition →	(6.49%)	0.03%	13.72%	9.43%	(15.80%)	(1.14%)	(10.48%)	(13.26%)	(15.15%)	(11.69%)
ROIC Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Tangible Assets Full definition →	(7.98%)	0.03%	13.29%	10.69%	(25.94%)	(1.25%)	(13.72%)	(16.17%)	(18.87%)	(16.35%)
Average Days of Receivables Full definition →	105.79	44.69	7.77	20.49	38.14	27.88	15.87	45.31	47.72	25.55
Research and Development Expense of Revenue Full definition →	92.37%	72.86%	69.14%	41.48%	73.37%	79.39%	141.84%	114.22%	127.85%	97.02%
Selling, General and Administrative Expense of Revenue Full definition →	13.04%	21.10%	40.79%	25.53%	48.59%	22.99%	25.59%	29.53%	37.93%	41.74%
Intangible Assets out of Total Assets Full definition →	0.02	0.02	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00
Share Based Compensation of Revenue Full definition →	19.34%	16.72%	21.90%	13.06%	31.55%	14.89%	17.07%	13.43%	18.46%	14.19%
Graham Net Nets Full definition →	0.00	0.03	0.10	0.14	0.06	0.12	0.05	0.01	0.04	0.00
Graham Number Full definition →	0.00	2.12	20.04	23.96	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Yield Full definition →	(1.05%)	0.14%	3.68%	3.51%	(5.73%)	(0.66%)	(5.06%)	(4.84%)	(8.70%)	(2.98%)
Free Cash Flow Yield Full definition →	(2.16%)	2.23%	8.18%	3.66%	(0.07%)	0.27%	(0.79%)	(4.43%)	(10.55%)	(2.57%)
Revenue per Share Full definition →	3.08	4.15	4.53	8.02	5.22	5.75	4.14	5.50	4.72	5.90
Operating CF per Share Full definition →	(0.93)	1.40	4.56	2.47	0.26	0.22	(1.93)	(2.15)	(3.35)	(1.68)
Capex per Share Full definition →	(0.10)	(0.31)	(0.13)	(0.26)	(0.29)	(0.13)	1.65	(0.20)	(0.34)	(0.36)
Free Cash Flow per Share Full definition →	(1.02)	1.10	4.42	2.21	(0.04)	0.09	(0.28)	(2.34)	(3.69)	(2.04)
Cash per Share Full definition →	5.50	8.25	15.75	17.85	13.55	15.00	14.01	16.28	15.37	16.73
Shareholders Equity per Share Full definition →	0.82	2.95	8.97	12.03	5.32	5.47	4.04	2.70	3.94	3.06
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	0.82	2.95	8.97	12.03	5.32	5.47	4.04	2.70	3.94	3.06
Free Cash Flow Full definition →	(123.63)	136.29	585.25	309.35	(5.16)	12.90	(40.39)	(335.50)	(551.29)	(325.67)
Working Capital Full definition →	664.15	925.12	1,927.59	2,447.59	1,531.81	2,104.50	1,891.13	2,193.76	2,310.97	2,209.07
Capital Expenditures Full definition →	(11.53)	(37.86)	(17.65)	(36.28)	(41.05)	(17.90)	233.98	(27.99)	(50.34)	(57.08)
Net Current Asset Value Full definition →	(14.97)	211.24	727.26	1,172.03	484.23	505.10	241.71	38.47	204.97	(44.11)
EV/EBIT Full definition →	0.00	183.35	0.00	18.44	0.00	0.00	0.00	0.00	0.00	0.00
Capex to Sales Full definition →	0.03	0.07	0.03	0.03	0.06	0.02	(0.40)	0.04	0.07	0.06
Price to Operating Income Full definition →	0.00	196.73	0.00	23.11	0.00	0.00	0.00	0.00	0.00	0.00
Other line items
Depreciation/Fixed assets Full definition →	0.51	0.42	0.35	0.07	0.18	0.24	0.47	0.00	(0.10)	0.05
Cash ROIC Full definition →	(9.65%)	6.83%	14.94%	6.22%	(0.14%)	0.31%	(1.08%)	(8.40%)	(13.34%)	(6.58%)
Accounts Receivable Turnover Full definition →	6.24	6.01	15.84	29.62	10.48	11.74	13.44	12.77	7.42	11.93
Accounts Payable Turnover Full definition →	0.00	0.35	0.07	0.20	0.72	0.75	0.95	0.42	0.33	0.45
Inventory Turnover Full definition →	0.00	0.92	0.20	0.33	0.60	0.46	0.60	0.62	1.12	1.41
Average Days of Payables Full definition →	0.00	1,135.42	5,747.75	1,337.70	525.46	400.75	463.39	1,040.17	1,398.29	644.29
Days of Inventory on Hand Full definition →	0.00	455.43	1,721.12	1,513.62	671.07	835.10	569.71	297.38	407.21	230.53
Average Receivables Full definition →	59.70	85.50	37.86	37.90	69.62	69.05	43.72	61.66	94.98	79.12
Average Payables Full definition →	24.74	23.00	26.77	22.36	16.63	14.55	14.91	21.97	34.50	35.52
Average Inventory Full definition →	7.19	8.74	9.28	13.38	20.07	23.39	23.42	14.74	9.98	11.28
Average Assets Full definition →	930.18	1,117.62	1,995.28	2,950.45	2,811.43	2,500.72	2,572.78	2,761.97	2,996.87	3,263.76
Average Common Equity Full definition →	150.18	232.42	776.22	1,435.85	1,213.91	757.51	672.31	479.79	487.52	538.72

Show all line items

Columns are period end dates · fundamentals updated 25 Oct 2026

Stockrow Weekly