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Ironwood Pharmaceuticals, Inc.

IRWD Healthcare Drug Manufacturers Specialty & Generic

Ironwood Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $296.2 million, down 15.7% from fiscal 2024.

Revenue
+9.00%
EPS
+44.0%
Free cash flow
+41.7%
Total debt
0.00%

Quarter to September 2026, against a year earlier

3.94 0.17 +4.51%
Market cap
$665.9M
P/E
4.3×
Fwd P/E
2.9×
Dividend yield
—
F-score
5/9
Altman Z
−3.75
Beneish M
−4.20
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 22.60
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — 1 6 1 — — 1 1 — — — —
Insider Ownership 3.51%

Capital & Financial Ratios $m

Size
Market Cap 665.91
Revenue ttm 400.30
Net income ttm 149.63
Free cash flow ttm 205.37
Net debt Q (86.38)
Valuation
P/E 4.34
Forward P/E 2.86
Price / sales 1.62
Forward P/S Powerpack
Price / FCF 3.16
Price / book 0.00
Financial health
Current ratio Q 6.51 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 15.03
Growth
Revenue growth Q +9.00% (above 0%: growing)
Operating income growth Q +23.38% (above 0%: growing)
EPS, this year +755.56% (at or above 15%: strong)
EPS, next year A +7.79%
Revenue, next year A +59.18% (at or above 10%: strong)
EPS, past 5 yrs −25.65% (below 0%: weak)
EPS, next 5 yrs A +114.48% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.9×, against a ten-year median of 4.5×; over the ten years it ranged from 1.9× in 2025 to 9.2× in 2017.
P/E against its own 10 years 23.81%
10-year low 10-year high
P/S against its own 10 years 10.78%
10-year low 10-year high
EV/Sales against its own 10 years 10.12%
10-year low 10-year high
EV/FCF against its own 10 years 9.35%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 92 89 215 86
Receivables 129 82 47 133
Inventory — — — —
Other — — — —
233 182 274 226
2023 2024 2025 Q'26
Payables 8 2 3 4
ST’ Debt 200 — 200 —
Other — — — —
276 39 242 35

Compound Annual Growth %

10y 5y 3y
Sales 7.07% (5.33%) (10.32%)
Cash Flow 0.00% (5.53%) (22.58%)
Earnings 0.00% (25.72%) (48.42%)
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.26 Actual 0.31

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.09 0.24 Beat by 0.15
Q4 FY25 0.02 −0.01 Miss by 0.03
Q1 FY26 0.07 0.24 Beat by 0.17
Q2 FY26 0.26 0.31 Beat by 0.05
Q3 FY26 0.30 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.24 0.31 0.36 — —
’25 (0.23) 0.14 0.23 (0.01) 0.15
’24 (0.03) (0.01) 0.02 0.01 0.01
’23 0.25 (6.84) 0.09 (0.01) (6.45)
’22 0.21 0.21 0.28 0.27 0.96
’21 0.25 2.39 0.34 0.25 3.21
’20 0.02 0.16 0.21 0.27 0.66
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 107 113 133 — —
’25 41 85 122 48 296
’24 75 94 92 91 351
’23 104 107 114 118 443
’22 98 97 109 107 411
’21 89 104 104 117 414
’20 80 89 103 117 390
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 5 58 67 — —
’25 20 (15) 48 75 127
’24 45 33 10 15 104
’23 80 35 32 36 183
’22 64 61 69 79 274
’21 74 49 75 65 262
’20 44 20 54 52 169
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 5 58 67 — —
’25 20 (15) 48 75 127
’24 45 33 10 15 103
’23 80 35 32 36 183
’22 64 61 69 79 274
’21 74 49 75 64 262
’20 42 20 54 51 167
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 274 298 347 428 390 414 411 443 351 296 400 +0.9% 471 494 501 +19.1%
Gross margin, % 99.32 93.60 90.55 94.43 99.19 100.00 100.00 100.00 100.00 100.00 100.00 +0.7 pt
EBT (82) (55) (194) 59 109 201 252 (948) 65 70 227 n/m
EBT margin, % (29.83) (18.41) (56.01) 13.76 27.95 48.50 61.48 (214.14) 18.55 23.65 56.70 +53.5 pt
Net income (82) (117) (282) 22 106 528 175 (1,032) 1 24 150 n/m
Per share, $
Per share, $ Revenue 1.89 2.00 2.27 2.75 2.44 2.55 2.66 2.85 2.21 1.83 2.43 (0.4%)
Earnings (0.56) (0.78) (1.85) 0.14 0.67 3.26 1.13 (6.45) 0.01 0.15 0.91 n/m
Cash flow (0.18) (0.68) (0.46) 0.07 1.06 1.61 1.77 1.18 0.65 0.79 1.25 n/m
Capex (0.72) (0.02) 0.01 (0.04) (0.01) 0.00 0.00 0.00 0.00 0.00 0.00 (59.7%)
Free cash flow (0.90) (0.69) (0.46) 0.02 1.05 1.61 1.77 1.18 0.65 0.78 1.25 n/m
Book value 0.46 0.07 (1.29) (0.60) 0.39 3.73 4.23 (2.23) (1.89) (1.62) (0.59) n/m
Shares, m 145 149 153 156 159 162 154 155 159 162 164 +1.2%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 17.00 3.58 10.76 0.00 0.00 21.38 4.34 5.3
P/S 6.66 6.46 3.86 4.85 4.66 4.57 4.61 4.36 2.01 1.84 1.62 4.4
P/B 27.35 195.62 0.00 0.00 28.99 3.12 2.90 0.00 0.00 0.00 0.00 25.8
EV/Sales 6.88 7.04 4.55 5.39 4.84 4.21 3.98 5.73 3.98 3.09 2.87 5.0
EV/FCF (63.05) (20.32) (22.65) 606.61 11.29 6.66 5.98 13.84 13.54 7.20 5.59 55.9
Cash, $m
Cash, $m Operating cash flow (26) (101) (71) 11 169 262 274 183 104 127 205 n/m
Capex (104) (3) 1 (7) (2) 0 0 0 0 0 0 (59.0%)
Free cash flow (130) (103) (70) 4 167 262 274 183 103 127 205 n/m
Balance, $m
Balance, $m Working capital 289 246 147 266 464 584 755 (43) 144 32 191 (21.7%)
Net debt 68 179 239 231 69 (149) (258) 606 495 369 (86) +20.8%
Shareholders’ equity 67 10 (196) (93) 63 606 652 (346) (301) (262) (97) n/m
Returns, %
Returns, % ROA (12.30) (17.78) (60.22) 5.85 22.07 62.68 15.72 (127.54) 0.21 6.42 43.58 +18.7 pt
ROIC (24.14) (5.09) (218.71) 54.61 67.89 31.74 39.69 (227.77) 29.99 57.33 0.00 +81.5 pt
ROE (100.97) (305.46) 302.77 (14.85) (693.71) 158.09 27.83 (654.88) (0.27) (8.53) (82.81) +92.4 pt
People
People Employees 674 730 515 317 232 219 219 267 253 100 — (19.1%)
Revenue/emp, $m 0.41 0.41 0.67 1.35 1.68 1.89 1.87 1.66 1.39 2.96 — +24.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Ironwood Pharmaceuticals, Inc. vs peers in Drug Manufacturers Specialty & Generic (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
HROW Harrow, Inc. $976.2M — (loss-making) — (loss-making) +10.85% (above 0%: growing) n/m −838.78% (below 0%: shrinking) 71.27% (15.58%) Compare
COLL Collegium Pharmaceutical, Inc. $819.1M 20.5× 21.3× +3.33% (above 0%: growing) −31.00% (below 0%: shrinking) +10.24% (above 0%: growing) 57.97% 13.28% Compare
IRWD Ironwood Pharmaceuticals, Inc. $665.9M 4.3× 2.9× +9.00% (above 0%: growing) +44.00% (above 0%: growing) +41.66% (above 0%: growing) 100.00% 70.00%
EVO Evotec AG $630.4M — (loss-making) — (loss-making) −12.98% (below 0%: shrinking) n/m −9,727.20% (below 0%: shrinking) (1.00%) (77.50%) Compare
TKNO Alpha Teknova, Inc. $486.2M — (loss-making) — (loss-making) +21.52% (above 0%: growing) n/m +40.94% (above 0%: growing) 37.99% (25.24%) Compare
AQST Aquestive Therapeutics, Inc. $460.0M — (loss-making) — (loss-making) −40.99% (below 0%: shrinking) n/m +40.78% (above 0%: growing) 52.28% (191.46%) Compare
EOLS Evolus, Inc. $448.8M — (loss-making) — (loss-making) +13.03% (above 0%: growing) n/m +77.73% (above 0%: growing) 65.02% (10.81%) Compare
TLRY Tilray Brands, Inc. $415.3M — (loss-making) — (loss-making) +22.74% (above 0%: growing) n/m −159.66% (below 0%: shrinking) 30.14% (9.35%) Compare
KMDA Kamada Ltd. $396.3M 18.1× — (loss-making) +22.72% (above 0%: growing) +23.08% (above 0%: growing) +165.71% (above 0%: growing) 40.91% 17.32% Compare
Median of peers $473.1M — — +11.94% — +25.51% 46.60% (13.19%)

All 84 Drug Manufacturers Specialty & Generic stocks →

Pay and ownership Proxy statement filed 28 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.95m 1.29m 27.20
2024 6.08m (4.49m) 35.75
2023 7.58m 4.63m 92.33

Ownership

Directors and executive officers, together 9.30%
The Vanguard Group 9.80%
Armistice Capital, LLC 9.70%
Bank of America Corporation 7.30%
BlackRock, Inc. 6.90%
Alexander Denner, Ph.D. 5.70%
Sarissa Capital Management LP 5.60%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Ironwood Pharmaceuticals, Inc. (IRWD) Latest News

5 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat
Impact 3 · · Associated Press
Impact 3 · · Business Wire

28 Oct

Impact 3 · · Business Wire

16 Oct

Impact 4 · · Business Wire

7 Oct

Impact 4 · · Zacks

30 Sep

Impact 3 · · Zacks

13 Aug

Impact 4 · · The Motley Fool transcript

7 Aug

Impact 4 ·
Impact 3 ·
Impact 3 · · Moby transcript

6 Aug

Impact 4 ·
Impact 4 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·

14 Jul

Impact 3 ·

3 Jul

Impact 4 ·

11 Jun

Impact 3 ·

2 Jun

Impact 3 · · Insider Monkey

27 May

Impact 4 · · Business Wire

20 May

Impact 4 · · Insider Monkey

8 May

Impact 3 · · MarketBeat

7 May

Impact 4 · · Zacks
Impact 4 · · Business Wire

27 Mar

Impact 3 · · Zacks

6 Mar

Impact 3 · · Zacks

26 Feb

Impact 4 · · Simply Wall St.

25 Feb

Impact 4 · · GuruFocus.com
stockrow.com/IRWD · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com