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

Ionis Pharmaceuticals, Inc.

IONS Healthcare Biotechnology

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

39.48 0.68 +1.75%
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
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Ionis Pharmaceuticals, Inc. (IONS) P/B ratio

Alert me on P/B ratio

As of 6 November 2026, Ionis Pharmaceuticals, Inc. (IONS) trades at a P/B ratio of 14.9×. Over the past ten years it has ranged from 3.5× (March 2020) to 66.4× (March 2017); the current reading is higher than 54% of that period. That is above the Biotechnology industry median of 2.0× and above the Healthcare sector median of 2.3×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 25.9× 191.32%
FY2024 8.9× (54.62%)
FY2023 19.6× 110.40%
FY2022 9.3× 67.34%
FY2021 5.6× (47.64%)
FY2020 10.6× 111.53%
FY2019 5.0× (16.68%)
FY2018 6.0× (63.96%)
FY2017 16.7× (70.92%)
FY2016 57.5× 55.72%

Quarterly newest first

Period P/B ratio Change
Jun 2026 29.8× 18.39%
Mar 2026 25.2× (2.66%)
Dec 2025 25.9× 53.03%
Sep 2025 16.9× 69.93%
42 more quarters

Against its own ten years

Low 3.5× High 66.4×
Ten-year median 13.1×
Current reading's percentile 58

P/B ratio against peers

Company P/B ratio
MIRM Mirum Pharmaceuticals, Inc. compare n/m
ORKA Oruka Therapeutics, Inc. compare 5.5×
CGON CG Oncology, Inc. compare 5.6×
LGND Ligand Pharmaceuticals Incorporated compare 6.2×
BLTE Belite Bio, Inc. Sponsored ADR compare 7.5×
IMVT Immunovant, Inc. compare 8.0×
IONS Ionis Pharmaceuticals, Inc. 14.6×
AXSM Axsome Therapeutics, Inc. compare 64.2×
KOD Kodiak Sciences Inc. compare 94.0×
Biotechnology industry median 2.0×
Healthcare sector median 2.3×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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