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. In the quarter to June 2026, revenue fell 40.7%, EPS fell 188.5%, free cash flow grew 299.3% and total debt rose 116.0%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Ionis Pharmaceuticals, Inc. (IONS) P/E ratio
Ionis Pharmaceuticals, Inc. has no meaningful P/E ratio: its trailing twelve-month earnings is negative. Over the past ten years it has ranged from 0.0× (October 2026) to 808× (March 2018) — the current reading is the lowest in ten years.
P/E ratio, daily
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Annual newest first
| Period | P/E ratio | Change |
|---|---|---|
| FY2025 | 0.0× | — |
| FY2024 | 0.0× | — |
| FY2023 | 0.0× | — |
| FY2022 | 0.0× | — |
| FY2021 | 0.0× | — |
| FY2020 | 0.0× | — |
| FY2019 | 28.5× | 4.89% |
| FY2018 | 27.2× | (96.24%) |
| FY2017 | 723× | — |
| FY2016 | 0.0× | — |
Quarterly newest first
| Period | P/E ratio | Change |
|---|---|---|
| Jun 2026 | 0.0× | — |
| Mar 2026 | 0.0× | — |
| Dec 2025 | 0.0× | — |
| Sep 2025 | 0.0× | — |
| 42 more quarters | Free account |
Against its own ten years
P/E ratio against peers
| Company | P/E ratio |
|---|---|
| SYRE Spyre Therapeutics, Inc. compare | n/m |
| ABVX Abivax SA Sponsored ADR compare | n/m |
| PRAX Praxis Precision Medicines, Inc. compare | n/m |
| IOVA Iovance Biotherapeutics, Inc. compare | n/m |
| ARWR Arrowhead Pharmaceuticals, Inc. compare | n/m |
| AXSM Axsome Therapeutics, Inc. compare | n/m |
| IONS Ionis Pharmaceuticals, Inc. | n/m |
| BLTE Belite Bio, Inc. Sponsored ADR compare | n/m |
| TGTX TG Therapeutics, Inc. compare | 17.8× |
| Biotechnology industry median | 8.5× |
| Healthcare sector median | 23.0× |
| Market median | 18.1× |
What P/E ratio is
Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.
Stock Price ÷ EPS (Basic) (TTM)