Ionis Pharmaceuticals, Inc. (IONS) vs Spyre Therapeutics, Inc. (SYRE)

Ionis Pharmaceuticals, Inc. and Spyre Therapeutics, Inc. are both Biotechnology companies. Ionis Pharmaceuticals, Inc. and Spyre Therapeutics, Inc. are of similar size ($7.7B and $7.4B). Ionis Pharmaceuticals, Inc. grew revenue faster over the last twelve months: −7.41% against −81.8%. Spyre Therapeutics, Inc. has the higher net margin (0.00% vs −64.7%) and the higher return on invested capital (0.00% vs 0.00%). Across the 17 metrics below, Spyre Therapeutics, Inc. leads on 11 and Ionis Pharmaceuticals, Inc. on 6.

Valuation

Metric IONS SYRE Biotechnology median
P/E n/m n/m 7.88
P/S 8.42 6,931.86 11.47
P/B 16.74 7.65 2.52
Price to free cash flow n/m n/m 21.16
EV/EBITDA n/m n/m 0.74
EV/Sales 8.11 5,845.20 10.73
Earnings yield (7.78%) (2.48%) (28.84%)
Free cash flow yield (7.71%) (2.85%) (23.03%)

Profitability

Metric IONS SYRE Biotechnology median
Gross margin 98.17% 100.00% 65.16%
Operating margin (68.00%) 0.00% 0.00%
Net margin (64.66%) 0.00% 0.00%
Free cash flow margin (64.93%) 0.00% 0.00%
Return on equity (105.50%) (28.52%) (57.72%)
Return on assets (18.90%) (20.90%) (49.22%)
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric IONS SYRE Biotechnology median
Revenue growth (TTM) (7.41%) (81.84%) 5.64%
EPS growth (last fiscal year) 21.71% 55.24% —
Revenue growth, 5-year CAGR 5.29% (28.15%) 8.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric IONS SYRE Biotechnology median
Debt to equity 3.07 0.00 0.00
Current ratio 7.89 18.53 4.73
Net debt to EBITDA 2.39 3.61 0.96

Dividend

Metric IONS SYRE Biotechnology median
Dividend yield — — 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric IONS SYRE Biotechnology median
Market cap 7.39b 7.68b 162.10m

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