Ionis Pharmaceuticals (IONS) Financials

$32.98 -0.28 (-0.84%)

Closing price 05/23/2025 04:00 PM Eastern

Extended Trading

$32.98 0.00 (-0.02%)

As of 05/23/2025 04:14 PM Eastern

Annual Income Statements for Ionis Pharmaceuticals

This table shows Ionis Pharmaceuticals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	-454	-366	-270	-29	-444	278	274	0.35	-60	-88
Consolidated Net Income / (Loss)	-454	-366	-270	-29	-480	287	215	-11	-60	-88
Net Income / (Loss) Continuing Operations	-453	-366	-270	-29	-480	287	215	-11	-60	-88
Total Pre-Tax Income	-460	-334	-258	-29	-135	339	-76	-17	-57	-88
Total Operating Income	-475	-354	-410	-30	-172	366	-61	31	-20	-76
Total Gross Profit	694	779	573	800	717	1,118	598	514	373	284
Total Revenue	705	788	587	810	729	1,123	600	514	373	284
Operating Revenue	705	788	587	810	729	1,123	600	514	373	284
Total Cost of Revenue	11	9.13	14	11	12	4.38	1.82	0.00	0.00	0.00
Operating Cost of Revenue	11	9.13	14	11	12	4.38	1.82	0.00	0.00	-
Total Operating Expenses	1,169	1,132	983	830	889	752	659	483	393	359
Selling, General & Admin Expense	267	233	150	186	354	287	245	108	49	37
Research & Development Expense	902	900	833	643	535	466	415	375	344	322
Total Other Income / (Expense), net	14	20	152	1.04	38	-27	-15	-48	-37	-12
Interest Expense	90	81	8.12	9.35	9.51	79	45	45	43	37
Interest & Investment Income	104	87	18	20	47	52	30	8.18	5.47	25
Other Income / (Expense), net	-0.01	14	142	-9.76	-0.06	-0.69	-0.18	-11	0.00	0.00
Income Tax Expense	-6.17	32	12	-0.55	345	52	-291	-5.98	2.93	0.37
Other Gains / (Losses), net	1.34	-	-	-	-	-	-	-	-	-
Basic Earnings per Share	($3.04)	($2.56)	($1.90)	($0.20)	($3.18)	$2.00	$2.09	$0.15	($0.50)	($0.74)
Weighted Average Basic Shares Outstanding	149.51M	143.19M	141.85M	141.02M	139.61M	140.00M	132.32M	124.02M	120.93M	119.72M
Diluted Earnings per Share	($3.04)	($2.56)	($1.90)	($0.20)	($3.18)	$1.90	$2.07	$0.15	($0.50)	($0.74)
Weighted Average Diluted Shares Outstanding	149.51M	143.19M	141.85M	141.02M	139.61M	153.16M	134.06M	126.10M	120.93M	119.72M
Weighted Average Basic & Diluted Shares Outstanding	158.96M	145.75M	142.95M	141.69M	140.86M	138.70M	131M	4.30M	120.20M	119.72M

This table shows Ionis Pharmaceuticals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-147	-104	-140	-66	-143	-9.26	-147	-85	-124	-52	-47
Consolidated Net Income / (Loss)	-147	-104	-140	-66	-143	-9.26	-147	-85	-124	-52	-47
Net Income / (Loss) Continuing Operations	-147	-103	-140	-66	-143	-9.26	-147	-85	-124	-52	-47
Total Pre-Tax Income	-147	-107	-144	-66	-143	-2.77	-141	-77	-113	-44	-47
Total Operating Income	-147	-111	-149	-66	-150	-6.12	-143	-90	-114	-208	-59
Total Gross Profit	130	223	133	221	117	321	142	186	129	148	158
Total Revenue	132	227	134	225	119	325	144	188	131	152	160
Operating Revenue	132	227	134	225	119	325	144	188	131	152	160
Total Cost of Revenue	1.46	3.83	1.07	4.16	2.15	3.06	2.19	2.54	1.34	3.69	1.52
Operating Cost of Revenue	1.46	3.83	1.07	4.16	2.15	3.06	2.19	2.54	1.34	3.69	1.52
Total Operating Expenses	277	334	281	287	267	328	285	276	243	356	217
Selling, General & Admin Expense	76	88	62	65	53	71	70	46	46	48	34
Research & Development Expense	201	245	220	222	214	257	215	230	198	308	183
Total Other Income / (Expense), net	0.04	2.44	4.56	-0.11	6.79	3.36	2.46	13	1.21	164	12
Interest Expense	23	23	23	23	22	22	22	20	17	1.73	2.14
Interest & Investment Income	23	26	27	22	29	26	22	22	18	16	9.87
Other Income / (Expense), net	0.47	-1.04	0.14	0.61	0.28	0.24	2.45	11	0.23	150	4.71
Income Tax Expense	0.12	-2.69	-3.62	0.06	0.08	6.50	6.60	7.84	11	8.10	0.28
Basic Earnings per Share	($0.93)	($0.66)	($0.95)	($0.45)	($0.98)	($0.06)	($1.03)	($0.60)	($0.87)	($0.37)	($0.33)
Weighted Average Basic Shares Outstanding	158.74M	149.51M	148.59M	145.96M	145.54M	143.19M	143.32M	143.10M	142.74M	141.85M	141.95M
Diluted Earnings per Share	($0.93)	($0.66)	($0.95)	($0.45)	($0.98)	($0.06)	($1.03)	($0.60)	($0.87)	($0.37)	($0.33)
Weighted Average Diluted Shares Outstanding	158.74M	149.51M	148.59M	145.96M	145.54M	143.19M	143.32M	143.10M	142.74M	141.85M	141.95M
Weighted Average Basic & Diluted Shares Outstanding	159.16M	158.96M	157.90M	146.21M	145.97M	145.75M	143.47M	143.33M	143.09M	142.95M	142.05M

This table details how cash moves in and out of Ionis Pharmaceuticals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-157	123	-593	472	-286	404	149	45	-44	-14
Net Cash From Operating Activities	-501	-308	-274	31	36	346	603	174	-112	21
Net Cash From Continuing Operating Activities	-501	-308	-274	31	36	346	603	174	-112	21
Net Income / (Loss) Continuing Operations	-454	-366	-270	-29	-480	287	215	-11	-60	-88
Consolidated Net Income / (Loss)	-454	-366	-270	-29	-480	287	215	-11	-60	-88
Depreciation Expense	9.61	10	14	15	13	13	11	6.71	7.48	6.98
Amortization Expense	-19	-10	21	27	19	-1.09	36	45	40	41
Non-Cash Adjustments To Reconcile Net Income	171	136	-47	131	202	215	180	97	78	41
Changes in Operating Assets and Liabilities, net	-209	-77	7.57	-114	281	-168	161	37	-178	20
Net Cash From Investing Activities	-134	-214	-263	195	274	-41	-930	-358	57	-60
Net Cash From Continuing Investing Activities	-134	-214	-263	195	274	-41	-930	-358	57	-60
Purchase of Property, Plant & Equipment	-45	-24	-16	-12	-35	-31	-18	-38	-12	-12
Acquisitions	-5.06	-4.21	-4.38	-5.95	-5.93	-5.38	-	-	-	-
Purchase of Investments	-1,853	-1,771	-1,486	-1,131	-1,570	-1,957	-1,795	-880	-301	-493
Sale of Property, Plant & Equipment	0.00	0.02	254	0.00	0.00	-	-	-	-	-
Sale and/or Maturity of Investments	1,769	1,585	989	1,344	1,886	1,952	883	557	365	420
Net Cash From Financing Activities	478	644	-55	246	-597	100	476	229	11	25
Net Cash From Continuing Financing Activities	478	644	-55	246	-597	100	476	229	11	25
Repayment of Debt	-45	-502	-51	-335	0.00	-23	0.00	-3.60	-7.07	-9.06
Issuance of Debt	0.00	575	0.00	633	0.00	110	0.00	60	4.00	8.50
Issuance of Common Equity	523	49	6.37	101	52	176	476	255	13	25
Other Financing Activities, net	0.00	522	-11	-153	-13	-128	0.00	-80	1.86	0.40
Effect of Exchange Rate Changes	-0.27	0.35	-	-	0.62	0.09	-0.02	-	-	-
Cash Interest Paid	11	6.51	2.90	4.78	6.25	9.87	9.59	8.04	7.31	6.80
Cash Income Taxes Paid	-5.62	48	5.01	0.04	26	9.04	0.00	0.00	-	-

This table details how cash moves in and out of Ionis Pharmaceuticals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	22	-93	41	-55	-50	47	-73	116	33	-39	-207
Net Cash From Operating Activities	-151	-116	-115	-120	-150	33	-109	-97	-134	-200	-24
Net Cash From Continuing Operating Activities	-151	-116	-115	-120	-150	33	-109	-97	-134	-200	-24
Net Income / (Loss) Continuing Operations	-147	-104	-140	-66	-143	-9.26	-147	-85	-124	-52	-47
Consolidated Net Income / (Loss)	-147	-104	-140	-66	-143	-9.26	-147	-85	-124	-52	-47
Depreciation Expense	2.23	2.24	2.36	2.47	2.55	2.54	2.52	2.62	2.60	3.03	3.82
Amortization Expense	-2.30	-4.75	-4.33	-5.10	-4.49	-3.76	-3.15	-2.89	-0.55	3.66	3.83
Non-Cash Adjustments To Reconcile Net Income	90	52	36	43	40	30	45	18	43	-124	-31
Changes in Operating Assets and Liabilities, net	-94	-61	-8.46	-94	-46	13	-5.93	-29	-55	-31	46
Net Cash From Investing Activities	170	68	-341	62	76	-27	69	70	-326	212	-184
Net Cash From Continuing Investing Activities	170	68	-341	62	76	-27	69	70	-326	212	-184
Purchase of Property, Plant & Equipment	-13	-25	-9.06	-6.23	-4.49	0.82	-2.14	-12	-10	-4.14	-5.54
Acquisitions	-0.65	-2.55	13	-14	-1.24	-0.79	-1.10	-1.06	-1.25	-0.87	-1.52
Purchase of Investments	-311	-334	-715	-285	-519	-418	-421	-244	-688	-262	-561
Sale and/or Maturity of Investments	495	430	371	368	601	391	493	327	374	225	384
Net Cash From Financing Activities	2.20	-44	496	2.56	24	41	-32	144	492	-51	1.83
Net Cash From Continuing Financing Activities	2.20	-44	496	2.56	24	41	-32	144	492	-51	1.83
Repayment of Debt	-0.04	-45	-0.05	-0.04	-0.04	-0.04	-68	-434	-0.04	-51	-0.09
Issuance of Common Equity	2.24	0.43	496	2.60	24	41	3.73	2.39	2.56	0.34	2.57
Effect of Exchange Rate Changes	0.23	-	-	-0.02	-0.11	-	-	0.07	0.10	-	-0.40
Cash Interest Paid	0.09	5.16	0.15	5.47	0.10	5.56	0.42	0.44	0.09	0.69	0.66
Cash Income Taxes Paid	-0.40	-7.69	0.08	1.98	0.01	48	0.20	0.22	0.29	5.01	-

This table presents Ionis Pharmaceuticals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	3,004	2,990	2,534	2,612	2,390	3,233	2,668	1,323	912	948
Total Current Assets	2,620	2,642	2,203	2,345	2,131	2,721	2,208	1,169	798	837
Cash & Equivalents	242	399	276	869	398	683	279	130	85	129
Short-Term Investments	2,056	1,932	1,710	1,246	1,495	1,816	1,805	893	581	675
Inventories, net	13	7.44	22	25	22	18	8.58	9.98	7.49	6.90
Other Current Assets	310	303	194	205	216	203	115	136	17	15
Plant, Property, & Equipment, net	94	71	74	178	181	154	132	122	93	90
Total Noncurrent Assets	289	277	257	89	78	359	328	32	22	21
Other Noncurrent Operating Assets	289	277	257	89	50	28	13	10	1.33	1.35
Total Liabilities & Shareholders' Equity	3,004	2,990	2,534	2,612	2,390	3,233	2,668	1,323	912	948
Total Liabilities	2,415	2,603	1,961	1,840	1,646	1,549	1,481	957	813	747
Total Current Liabilities	309	448	312	241	599	273	280	244	134	149
Short-Term Debt	0.00	44	0.00	-	309	0.00	14	-	-	-
Accounts Payable	43	26	18	12	17	16	29	25	21	28
Accrued Expenses	108	148	140	89	90	67	48	67	36	28
Current Deferred Revenue	79	151	91	98	108	118	160	125	51	67
Current Deferred & Payable Income Tax Liabilities	0.03	2.15	6.25	0.04	1.32	33	0.86	-	-	-
Current Employee Benefit Liabilities	70	68	49	39	66	37	29	25	24	16
Other Current Liabilities	9.28	8.83	7.54	3.53	7.30	2.03	-	1.62	1.19	9.03
Total Noncurrent Liabilities	2,106	2,155	1,649	1,599	1,048	1,276	1,200	714	679	598
Long-Term Debt	1,245	1,230	1,183	1,221	600	770	628	593	501	389
Capital Lease Obligations	162	171	179	19	-	-	-	-	-	-
Noncurrent Deferred Revenue	157	241	288	352	424	490	567	108	91	134
Other Noncurrent Operating Liabilities	542	514	0.00	6.95	23	16	4.91	13	87	75
Total Equity & Noncontrolling Interests	588	387	573	772	743	1,685	1,187	365	100	201
Total Preferred & Common Equity	588	387	573	772	743	1,471	1,048	281	100	201
Total Common Equity	588	387	573	772	743	1,471	1,048	281	100	201
Common Stock	2,869	2,215	2,060	1,964	1,896	2,204	2,047	1,554	1,311	1,309
Retained Earnings	-2,250	-1,796	-1,430	-1,160	-1,131	-708	-967	-1,241	-1,181	-1,095
Accumulated Other Comprehensive Income / (Loss)	-31	-33	-57	-33	-21	-25	-32	-32	-30	-14

This table presents Ionis Pharmaceuticals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	2,813	3,081	2,691	2,764	2,934	2,971	2,885	2,422
Total Current Assets	2,419	2,714	2,329	2,416	2,585	2,617	2,543	2,152
Cash & Equivalents	264	335	294	349	352	425	309	315
Short-Term Investments	1,881	2,149	1,785	1,857	1,884	1,961	2,038	1,667
Inventories, net	12	28	29	30	26	26	22	21
Other Current Assets	262	202	222	179	323	206	174	150
Plant, Property, & Equipment, net	103	83	76	73	71	92	85	181
Total Noncurrent Assets	291	285	286	275	278	263	257	89
Other Noncurrent Operating Assets	291	285	286	275	278	263	257	59
Total Liabilities & Shareholders' Equity	2,813	3,081	2,691	2,764	2,934	2,971	2,885	2,422
Total Liabilities	2,337	2,419	2,427	2,467	2,619	2,543	2,399	1,828
Total Current Liabilities	250	305	306	328	404	288	259	283
Accounts Payable	17	9.05	9.24	13	5.62	24	10	21
Accrued Expenses	103	124	114	106	119	105	113	128
Current Deferred Revenue	81	76	94	130	205	96	92	100
Current Deferred & Payable Income Tax Liabilities	0.13	0.04	0.28	2.21	31	25	17	0.02
Current Employee Benefit Liabilities	27	41	35	22	34	29	18	30
Other Current Liabilities	22	10	8.80	9.99	9.95	8.90	8.24	4.97
Total Noncurrent Liabilities	2,087	2,114	2,121	2,140	2,214	2,255	2,139	1,544
Long-Term Debt	1,195	1,192	1,191	1,189	1,230	1,299	1,177	1,224
Capital Lease Obligations	159	168	166	169	173	175	177	-
Noncurrent Deferred Revenue	141	174	189	215	249	254	273	295
Other Noncurrent Operating Liabilities	592	580	576	567	562	527	513	25
Total Equity & Noncontrolling Interests	476	662	264	297	315	428	487	594
Total Preferred & Common Equity	476	662	264	297	315	428	487	594
Total Common Equity	476	662	264	297	315	428	487	594
Common Stock	2,901	2,832	2,304	2,270	2,148	2,118	2,090	2,035
Retained Earnings	-2,397	-2,145	-2,005	-1,939	-1,787	-1,639	-1,554	-1,377
Accumulated Other Comprehensive Income / (Loss)	-29	-24	-35	-35	-46	-51	-49	-63

This table displays calculated financial ratios and metrics derived from Ionis Pharmaceuticals' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-10.48%	34.10%	-27.53%	11.13%	-35.04%	87.20%	16.63%	37.93%	31.40%	32.47%
EBITDA Growth	-42.53%	-45.79%	-10,023.08%	101.67%	-137.22%	2,633.64%	-120.91%	158.62%	198.76%	-89.90%
EBIT Growth	-39.88%	-26.80%	-570.56%	76.80%	-147.14%	693.30%	-410.72%	198.26%	73.39%	-58.73%
NOPAT Growth	-34.31%	13.76%	-1,258.88%	82.46%	-138.83%	822.18%	-297.67%	254.00%	73.39%	-58.73%
Net Income Growth	-23.92%	-35.80%	-843.18%	94.04%	-267.01%	33.62%	2,093.74%	82.15%	31.58%	-126.45%
EPS Growth	-18.75%	-34.74%	-850.00%	93.71%	-267.37%	-8.21%	1,280.00%	130.00%	32.43%	-124.24%
Operating Cash Flow Growth	-62.90%	-12.08%	-990.84%	-14.19%	-89.62%	-42.67%	246.20%	255.34%	-630.67%	236.12%
Free Cash Flow Firm Growth	-365.34%	159.23%	-112.73%	-312.46%	-25.47%	-32.12%	598.20%	112.99%	-877.58%	-136.10%
Invested Capital Growth	39.57%	-855.25%	49.03%	57.26%	-433.22%	82.34%	-295.19%	0.91%	69.53%	-20.50%
Revenue Q/Q Growth	-12.19%	28.07%	-32.91%	22.66%	-21.81%	36.73%	4.23%	-3.51%	56.73%	-10.50%
EBITDA Q/Q Growth	-28.46%	11.58%	-572.07%	100.97%	-225.23%	136.21%	53.04%	-51.17%	126.94%	-165.52%
EBIT Q/Q Growth	-28.71%	13.37%	-2,637.52%	85.87%	-255.42%	215.79%	21.56%	-78.77%	86.60%	-2,663.02%
NOPAT Q/Q Growth	-28.27%	36.34%	-2,495.45%	88.96%	-286.89%	-20.66%	21.67%	-77.52%	86.60%	-2,663.02%
Net Income Q/Q Growth	-26.50%	10.54%	-3,784.22%	95.30%	-850.78%	-28.55%	321.83%	-121.39%	67.15%	-721.33%
EPS Q/Q Growth	-24.59%	10.80%	-3,266.67%	95.38%	-776.60%	-40.44%	1,085.71%	-67.39%	67.11%	-716.67%
Operating Cash Flow Q/Q Growth	-42.34%	43.11%	-311.85%	141.11%	-83.36%	88.56%	18.73%	37.22%	8.66%	-83.66%
Free Cash Flow Firm Q/Q Growth	-47.33%	666.96%	-101,558.85%	-367.71%	197.97%	326.45%	-64.55%	187.27%	-135.70%	-132.33%
Invested Capital Q/Q Growth	27.38%	3.25%	67.88%	41.19%	-415.54%	30.23%	48.96%	-125.35%	56.43%	-88.71%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	98.41%	98.84%	97.60%	98.66%	98.36%	99.61%	99.70%	100.00%	100.00%	100.00%
EBITDA Margin	-68.66%	-43.13%	-39.67%	0.29%	-19.23%	33.55%	-2.48%	13.83%	7.38%	-9.81%
Operating Margin	-67.37%	-44.91%	-69.84%	-3.72%	-23.60%	32.59%	-10.23%	6.04%	-5.41%	-26.70%
EBIT Margin	-67.38%	-43.12%	-45.60%	-4.93%	-23.61%	32.53%	-10.26%	3.85%	-5.41%	-26.70%
Profit (Net Income) Margin	-64.37%	-46.50%	-45.92%	-3.53%	-65.78%	25.59%	35.85%	-2.10%	-16.20%	-31.12%
Tax Burden Percent	98.66%	109.68%	104.55%	98.11%	356.55%	84.80%	-282.30%	64.33%	105.11%	100.42%
Interest Burden Percent	96.84%	98.33%	96.31%	72.97%	78.16%	92.76%	123.72%	-84.62%	285.05%	116.03%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	15.20%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-93.10%	-76.34%	-40.12%	-3.78%	-39.52%	20.01%	27.70%	-4.64%	-40.22%	-38.50%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-15.85%	-12.30%	-10.41%	-1.60%	-6.12%	12.38%	-3.09%	1.77%	-2.17%	-7.96%
Return on Assets (ROA)	-15.15%	-13.26%	-10.48%	-1.14%	-17.06%	9.74%	10.77%	-0.96%	-6.49%	-9.27%
Return on Common Equity (ROCE)	-93.10%	-76.34%	-40.12%	-3.78%	-36.05%	17.55%	23.71%	-3.80%	-40.22%	-38.50%
Return on Equity Simple (ROE_SIMPLE)	-77.15%	-94.72%	-47.08%	-3.71%	-64.54%	19.53%	20.51%	-3.84%	-60.66%	-43.97%
Net Operating Profit after Tax (NOPAT)	-333	-248	-287	-21	-120	310	-43	22	-14	-53
NOPAT Margin	-47.16%	-31.44%	-48.88%	-2.61%	-16.52%	27.64%	-7.16%	4.23%	-3.79%	-18.69%
Net Nonoperating Expense Percent (NNEP)	-13.66%	-15.70%	2.32%	-0.80%	-26.49%	-1.45%	27.56%	-10.94%	-15.98%	-8.29%
Return On Investment Capital (ROIC_SIMPLE)	-16.66%	-13.52%	-14.84%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	1.59%	1.16%	2.40%	1.34%	1.64%	0.39%	0.30%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	37.93%	29.53%	25.59%	22.99%	48.59%	25.53%	40.79%	21.10%	13.04%	13.10%
R&D to Revenue	127.85%	114.22%	141.84%	79.39%	73.37%	41.48%	69.14%	72.86%	92.37%	113.60%
Operating Expenses to Revenue	165.78%	143.75%	167.43%	102.39%	121.96%	67.02%	109.93%	93.96%	105.41%	126.70%
Earnings before Interest and Taxes (EBIT)	-475	-340	-268	-40	-172	365	-62	20	-20	-76
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-484	-340	-233	2.35	-140	377	-15	71	27	-28
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.38	18.77	9.37	5.57	10.64	5.78	7.10	22.34	58.22	37.05
Price to Tangible Book Value (P/TBV)	9.38	18.77	9.37	5.57	11.05	5.88	7.26	24.24	73.20	40.99
Price to Revenue (P/Rev)	7.83	9.22	9.13	5.30	10.84	7.57	12.40	12.21	15.55	26.22
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	30.55	27.17	18,142.24	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	3.27%	3.68%	0.01%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	6.57	8.09	8.07	4.22	9.49	6.22	10.23	11.54	15.11	24.76
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	1,457.68	0.00	18.54	0.00	83.42	204.86	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	19.12	0.00	299.43	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	22.50	0.00	272.93	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	111.13	192.86	20.20	10.17	34.06	0.00	332.51
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	31.88	0.00	0.00	92.71	69.68	41.56	280.60	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.39	3.74	2.38	1.61	1.22	0.46	0.54	1.62	5.03	1.94
Long-Term Debt to Equity	2.39	3.62	2.38	1.61	0.81	0.46	0.53	1.62	5.03	1.94
Financial Leverage	-1.82	-1.58	-1.12	-1.23	-1.12	-1.10	-1.21	-1.28	-1.93	-1.85
Leverage Ratio	6.15	5.76	3.83	3.30	2.32	2.05	2.57	4.81	6.19	4.15
Compound Leverage Factor	5.95	5.66	3.69	2.41	1.81	1.91	3.18	-4.07	17.66	4.82
Debt to Total Capital	70.52%	78.89%	70.39%	61.65%	55.01%	31.37%	35.09%	61.88%	83.41%	65.98%
Short-Term Debt to Total Capital	0.00%	2.42%	0.00%	0.00%	18.69%	0.00%	0.75%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	70.52%	76.47%	70.39%	61.65%	36.32%	31.37%	34.34%	61.88%	83.41%	65.98%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	8.70%	7.60%	8.79%	0.00%	0.00%
Common Equity to Total Capital	29.48%	21.11%	29.61%	38.35%	44.99%	59.93%	57.30%	29.33%	16.59%	34.02%
Debt to EBITDA	-2.91	-4.25	-5.84	528.36	-6.48	2.04	-43.17	8.34	18.20	-13.99
Net Debt to EBITDA	1.84	2.61	2.68	-372.40	7.01	-4.59	97.02	-6.05	-5.99	14.89
Long-Term Debt to EBITDA	-2.91	-4.12	-5.84	528.36	-4.28	2.04	-42.25	8.34	18.20	-13.99
Debt to NOPAT	-4.23	-5.83	-4.74	-58.71	-7.55	2.48	-14.94	27.28	-35.47	-7.34
Net Debt to NOPAT	2.68	3.58	2.18	41.38	8.16	-5.57	33.57	-19.78	11.67	7.82
Long-Term Debt to NOPAT	-4.23	-5.66	-4.74	-58.71	-4.98	2.48	-14.62	27.28	-35.47	-7.34
Altman Z-Score	0.96	1.60	1.63	2.01	3.05	4.61	3.52	3.90	3.68	5.26
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	8.79%	12.28%	14.39%	18.13%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	8.47	5.90	7.07	9.75	3.56	9.97	7.88	4.80	5.96	5.62
Quick Ratio	7.43	5.20	6.38	8.79	3.16	9.16	7.44	4.20	5.78	5.48
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-530	200	-337	-159	75	100	148	21	-163	-17
Operating Cash Flow to CapEx	-1,106.33%	-1,293.00%	0.00%	257.62%	102.20%	1,118.35%	3,415.51%	460.02%	-972.46%	179.82%
Free Cash Flow to Firm to Interest Expense	-5.86	2.45	-41.55	-16.97	7.85	1.27	3.30	0.47	-3.81	-0.45
Operating Cash Flow to Interest Expense	-5.54	-3.78	-33.78	3.29	3.77	4.40	13.46	3.89	-2.62	0.58
Operating Cash Flow Less CapEx to Interest Expense	-6.04	-4.07	-4.43	2.02	0.08	4.00	13.07	3.05	-2.89	0.26
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.24	0.29	0.23	0.32	0.26	0.38	0.30	0.46	0.40	0.30
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	1.12	0.62	0.60	0.46	0.60	0.33	0.20	0.00	0.00	0.00
Fixed Asset Turnover	8.53	10.84	4.65	4.51	4.36	7.86	4.72	4.79	4.07	3.17
Accounts Payable Turnover	0.33	0.42	0.95	0.75	0.72	0.20	0.07	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	324.69	588.96	605.56	787.28	613.25	1,114.07	1,861.50	0.00	0.00	0.00
Days Payable Outstanding (DPO)	1,122.68	878.19	385.60	489.88	508.16	1,861.92	5,369.31	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-797.99	-289.23	219.97	297.40	105.08	-747.86	-3,507.81	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	-302	-500	-52	-103	-240	-45	-255	-65	-65	-214
Invested Capital Turnover	-1.76	-2.85	-7.58	-4.73	-5.11	-7.48	-3.75	-7.93	-2.67	-1.45
Increase / (Decrease) in Invested Capital	198	-447	50	138	-195	210	-191	0.59	149	-36
Enterprise Value (EV)	4,630	6,372	4,740	3,423	6,922	6,981	6,134	5,932	5,632	7,024
Market Capitalization	5,520	7,258	5,365	4,297	7,906	8,497	7,437	6,277	5,797	7,439
Book Value per Share	$3.73	$2.70	$4.03	$5.47	$5.32	$10.46	$7.62	$2.25	$0.82	$1.67
Tangible Book Value per Share	$3.73	$2.70	$4.03	$5.47	$5.12	$10.28	$7.44	$2.08	$0.65	$1.51
Total Capital	1,996	1,831	1,935	2,012	1,652	2,455	1,829	958	600	590
Total Debt	1,407	1,445	1,362	1,241	909	770	642	593	501	389
Total Long-Term Debt	1,407	1,400	1,362	1,241	600	770	628	593	501	389
Net Debt	-890	-886	-625	-874	-983	-1,730	-1,442	-430	-165	-415
Capital Expenditures (CapEx)	45	24	-238	12	35	31	18	38	12	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	13	-93	-96	-10	-52	-52	-143	-98	-1.08	-116
Debt-free Net Working Capital (DFNWC)	2,311	2,238	1,891	2,104	1,841	2,448	1,941	925	664	688
Net Working Capital (NWC)	2,311	2,194	1,891	2,104	1,532	2,448	1,928	925	664	688
Net Nonoperating Expense (NNE)	121	119	-17	7.47	359	23	-258	33	46	35
Net Nonoperating Obligations (NNO)	-890	-886	-625	-874	-983	-1,730	-1,442	-430	-165	-415
Total Depreciation and Amortization (D&A)	-9.05	-0.06	35	42	32	11	47	51	48	48
Debt-free, Cash-free Net Working Capital to Revenue	1.89%	-11.82%	-16.30%	-1.29%	-7.10%	-4.63%	-23.80%	-18.98%	-0.29%	-40.83%
Debt-free Net Working Capital to Revenue	327.73%	284.15%	321.97%	259.67%	252.39%	218.03%	323.73%	179.92%	178.16%	242.55%
Net Working Capital to Revenue	327.73%	278.52%	321.97%	259.67%	210.05%	218.03%	321.44%	179.92%	178.16%	242.55%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($3.04)	($2.56)	($1.90)	($0.20)	($3.23)	$2.12	$2.09	$0.08	($0.72)	($0.74)
Adjusted Weighted Average Basic Shares Outstanding	149.51M	143.19M	141.85M	141.02M	139.61M	140.00M	132.32M	124.02M	123.75M	120.66M
Adjusted Diluted Earnings per Share	($3.04)	($2.56)	($1.90)	($0.20)	($3.23)	$2.08	$2.07	$0.08	($0.72)	($0.74)
Adjusted Weighted Average Diluted Shares Outstanding	149.51M	143.19M	141.85M	141.02M	139.61M	142.87M	134.06M	126.10M	123.75M	120.66M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$2.12	$0.00	$0.08	($0.72)	($0.74)
Adjusted Weighted Average Basic & Diluted Shares Outstanding	158.96M	145.75M	142.95M	141.69M	140.86M	139.22M	138.40M	125.40M	120.93M	119.72M
Normalized Net Operating Profit after Tax (NOPAT)	-333	-248	-287	-21	-120	310	-43	22	-14	-53
Normalized NOPAT Margin	-47.16%	-31.44%	-48.88%	-2.61%	-16.52%	27.64%	-7.16%	4.23%	-3.79%	-18.69%
Pre Tax Income Margin	-65.25%	-42.40%	-43.92%	-3.60%	-18.45%	30.18%	-12.70%	-3.26%	-15.42%	-30.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-5.25	-4.17	-32.98	-4.27	-18.10	4.64	-1.37	0.44	-0.47	-2.06
NOPAT to Interest Expense	-3.68	-3.04	-35.35	-2.26	-12.67	3.95	-0.96	0.49	-0.33	-1.44
EBIT Less CapEx to Interest Expense	-5.75	-4.46	-3.63	-5.55	-21.79	4.25	-1.77	-0.40	-0.74	-2.38
NOPAT Less CapEx to Interest Expense	-4.18	-3.33	-6.00	-3.54	-16.36	3.55	-1.35	-0.36	-0.60	-1.76
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	-113.54%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	-132.41%	11.97%	0.00%	-18.89%	-1.35%	0.00%

This table displays calculated financial ratios and metrics derived from Ionis Pharmaceuticals' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.14%	-30.18%	-7.21%	19.55%	-8.45%	113.64%	-9.74%	40.82%	-8.03%	-65.48%	20.04%
EBITDA Growth	3.12%	-1,510.86%	-6.39%	14.08%	-35.14%	86.24%	-202.27%	9.59%	-138.50%	-122.37%	38.04%
EBIT Growth	1.90%	-1,800.15%	-5.47%	17.13%	-31.00%	89.90%	-158.66%	19.22%	-98.75%	-126.48%	36.93%
NOPAT Growth	1.77%	-1,710.21%	-3.76%	26.72%	-30.98%	97.06%	-142.19%	-5.47%	-98.50%	-166.09%	31.10%
Net Income Growth	-2.90%	-1,026.51%	4.70%	22.31%	-14.86%	82.33%	-213.69%	18.88%	-90.78%	-123.34%	43.02%
EPS Growth	5.10%	-1,000.00%	7.77%	25.00%	-12.64%	83.78%	-212.12%	18.92%	-89.13%	-123.27%	43.10%
Operating Cash Flow Growth	-0.56%	-453.38%	-5.47%	-23.13%	-11.90%	116.42%	-346.28%	-438.04%	-323.36%	-198.29%	56.04%
Free Cash Flow Firm Growth	-185.45%	-162.13%	-180.81%	-147.09%	-133.83%	326.18%	577.56%	399.85%	304.84%	-336.64%	-127.84%
Invested Capital Growth	37.94%	39.57%	19.49%	14.43%	-0.24%	-855.25%	-217.11%	-178.05%	-319.84%	49.03%	6.68%
Revenue Q/Q Growth	-41.91%	69.32%	-40.59%	88.50%	-63.18%	125.03%	-23.46%	44.35%	-14.07%	-4.93%	19.42%
EBITDA Q/Q Growth	-28.06%	24.00%	-120.92%	54.94%	-2,029.23%	94.98%	-78.40%	29.13%	-116.76%	-10.29%	46.64%
EBIT Q/Q Growth	-30.87%	24.68%	-126.80%	56.12%	-2,435.01%	95.82%	-78.22%	30.64%	-95.43%	-7.07%	44.34%
NOPAT Q/Q Growth	-32.52%	25.45%	-124.93%	55.80%	-2,342.22%	95.73%	-58.84%	20.98%	45.13%	-251.66%	30.83%
Net Income Q/Q Growth	-40.81%	25.72%	-112.00%	53.60%	-1,441.65%	93.72%	-72.83%	31.40%	-137.12%	-11.57%	55.30%
EPS Q/Q Growth	-40.91%	30.53%	-111.11%	54.08%	-1,533.33%	94.17%	-71.67%	31.03%	-135.14%	-12.12%	55.41%
Operating Cash Flow Q/Q Growth	-29.82%	-1.00%	4.08%	20.05%	-556.22%	130.15%	-11.97%	27.34%	33.07%	-719.50%	-35.00%
Free Cash Flow Firm Q/Q Growth	-7.25%	-34.48%	-76.55%	-12.10%	-121.33%	74.90%	2.88%	-19.46%	256.07%	-269.29%	35.40%
Invested Capital Q/Q Growth	-4.30%	27.38%	-0.57%	18.52%	6.30%	3.25%	-6.90%	4.56%	-867.70%	67.88%	6.26%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	98.89%	98.31%	99.20%	98.15%	98.20%	99.06%	98.48%	98.65%	98.97%	97.57%	99.05%
EBITDA Margin	-111.28%	-50.48%	-112.46%	-30.24%	-126.51%	-2.19%	-98.08%	-42.08%	-85.71%	-33.98%	-29.29%
Operating Margin	-111.59%	-48.91%	-111.09%	-29.34%	-125.12%	-1.89%	-99.35%	-47.87%	-87.45%	-136.95%	-37.03%
EBIT Margin	-111.23%	-49.37%	-110.99%	-29.07%	-124.89%	-1.81%	-97.65%	-41.94%	-87.28%	-38.38%	-34.08%
Profit (Net Income) Margin	-111.64%	-46.05%	-104.98%	-29.42%	-119.50%	-2.85%	-102.22%	-45.27%	-95.25%	-34.52%	-29.41%
Tax Burden Percent	100.08%	97.49%	97.49%	100.10%	100.05%	334.89%	104.69%	110.13%	110.08%	118.27%	100.61%
Interest Burden Percent	100.29%	95.69%	97.03%	101.10%	95.64%	46.98%	99.99%	98.02%	99.14%	76.05%	85.80%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-118.62%	-93.10%	-73.38%	-105.71%	-98.27%	-76.34%	-90.01%	-58.69%	-54.99%	-40.12%	1.30%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-28.61%	-11.62%	-29.64%	-8.35%	-34.34%	-0.52%	-22.43%	-9.75%	-18.60%	-8.76%	-12.34%
Return on Assets (ROA)	-28.72%	-10.84%	-28.03%	-8.45%	-32.86%	-0.81%	-23.48%	-10.52%	-20.30%	-7.88%	-10.65%
Return on Common Equity (ROCE)	-118.62%	-93.10%	-73.38%	-105.71%	-98.27%	-76.34%	-90.01%	-58.69%	-54.99%	-40.12%	1.30%
Return on Equity Simple (ROE_SIMPLE)	-96.28%	0.00%	-54.16%	-138.70%	-129.76%	0.00%	-129.80%	-72.15%	-67.59%	0.00%	1.23%
Net Operating Profit after Tax (NOPAT)	-103	-78	-104	-46	-105	-4.29	-100	-63	-80	-146	-41
NOPAT Margin	-78.11%	-34.24%	-77.76%	-20.54%	-87.58%	-1.32%	-69.54%	-33.51%	-61.22%	-95.87%	-25.92%
Net Nonoperating Expense Percent (NNEP)	-5.54%	-3.01%	-3.81%	-2.52%	-4.25%	-0.66%	-5.93%	-2.59%	-4.87%	12.43%	-0.76%
Return On Investment Capital (ROIC_SIMPLE)	-5.62%	-3.89%	-	-	-	-0.23%	-	-	-	-7.53%	-
Cost of Revenue to Revenue	1.11%	1.69%	0.80%	1.85%	1.80%	0.94%	1.52%	1.35%	1.03%	2.43%	0.95%
SG&A Expenses to Revenue	57.94%	38.87%	46.06%	28.91%	44.05%	21.88%	48.51%	24.49%	34.87%	31.57%	21.54%
R&D to Revenue	152.54%	108.35%	164.23%	98.59%	179.26%	79.06%	149.32%	122.03%	151.55%	202.96%	114.54%
Operating Expenses to Revenue	210.47%	147.22%	210.29%	127.49%	223.32%	100.94%	197.83%	146.52%	186.42%	234.53%	136.08%
Earnings before Interest and Taxes (EBIT)	-146	-112	-149	-65	-149	-5.89	-141	-79	-114	-58	-54
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-146	-114	-150	-68	-151	-7.10	-141	-79	-112	-52	-47
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	10.08	9.38	8.84	26.38	20.98	18.77	20.61	13.71	10.50	9.37	10.56
Price to Tangible Book Value (P/TBV)	10.08	9.38	8.84	26.38	20.98	18.77	20.61	13.71	10.50	9.37	11.12
Price to Revenue (P/Rev)	6.69	7.83	7.29	8.55	8.01	9.22	10.57	9.31	8.87	9.13	7.17
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	857.54
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	5.58	6.57	5.95	7.72	6.97	8.09	9.22	7.86	7.15	8.07	6.31
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	111.86
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	523.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	460.58
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	42.63
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	31.88	0.00	0.00	69.84	0.00	16,598.04
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.85	2.39	2.12	5.31	4.73	3.74	4.45	3.44	2.78	2.38	2.06
Long-Term Debt to Equity	2.85	2.39	2.05	5.15	4.58	3.62	4.45	3.44	2.78	2.38	2.06
Financial Leverage	-2.07	-1.82	-1.95	-2.30	-2.29	-1.58	-1.75	-1.62	-1.52	-1.12	-1.30
Leverage Ratio	7.22	6.15	6.15	8.18	7.21	5.76	5.89	5.15	4.52	3.83	4.30
Compound Leverage Factor	7.24	5.88	5.97	8.27	6.90	2.70	5.89	5.05	4.48	2.91	3.69
Debt to Total Capital	74.01%	70.52%	67.96%	84.16%	82.54%	78.89%	81.65%	77.48%	73.56%	70.39%	67.32%
Short-Term Debt to Total Capital	0.00%	0.00%	2.15%	2.67%	2.61%	2.42%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	74.01%	70.52%	65.81%	81.50%	79.93%	76.47%	81.65%	77.48%	73.56%	70.39%	67.32%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	25.99%	29.48%	32.04%	15.84%	17.46%	21.11%	18.35%	22.52%	26.44%	29.61%	32.68%
Debt to EBITDA	-2.83	-2.91	-3.73	-3.81	-3.70	-4.25	-3.65	-5.09	-4.54	-5.84	24.81
Net Debt to EBITDA	1.65	1.84	2.86	1.84	2.12	2.61	2.17	3.15	3.33	2.68	-15.34
Long-Term Debt to EBITDA	-2.83	-2.91	-3.61	-3.69	-3.58	-4.12	-3.65	-5.09	-4.54	-5.84	24.81
Debt to NOPAT	-4.10	-4.23	-5.42	-5.49	-5.15	-5.83	-3.61	-4.47	-4.14	-4.74	102.15
Net Debt to NOPAT	2.39	2.68	4.16	2.65	2.95	3.58	2.14	2.76	3.04	2.18	-63.18
Long-Term Debt to NOPAT	-4.10	-4.23	-5.25	-5.31	-4.99	-5.66	-3.61	-4.47	-4.14	-4.74	102.15
Altman Z-Score	1.05	1.36	1.52	1.80	1.54	1.97	1.58	1.68	1.54	1.90	2.48
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	9.66	8.47	8.91	7.61	7.37	5.90	6.39	9.09	9.81	7.07	7.59
Quick Ratio	8.57	7.43	8.15	6.79	6.73	5.20	5.53	8.28	9.05	6.38	6.99
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-295	-275	-205	-116	-103	443	253	246	306	-196	-53
Operating Cash Flow to CapEx	-1,198.82%	-455.50%	-1,269.77%	-1,923.00%	-3,337.15%	0.00%	-5,092.11%	-810.62%	-1,279.53%	-4,836.80%	-440.80%
Free Cash Flow to Firm to Interest Expense	-12.88	-12.05	-9.02	-5.09	-4.68	19.78	11.53	12.35	17.86	-113.20	-24.81
Operating Cash Flow to Interest Expense	-6.58	-5.08	-5.07	-5.26	-6.78	1.47	-4.96	-4.88	-7.83	-115.65	-11.42
Operating Cash Flow Less CapEx to Interest Expense	-7.12	-6.20	-5.47	-5.53	-6.98	1.50	-5.06	-5.48	-8.44	-118.04	-14.01
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.26	0.24	0.27	0.29	0.28	0.29	0.23	0.23	0.21	0.23	0.36
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.50	1.12	0.39	0.43	0.38	0.62	0.42	0.40	0.49	0.60	0.58
Fixed Asset Turnover	8.16	8.53	10.47	9.71	9.83	10.84	4.89	4.69	4.38	4.65	4.85
Accounts Payable Turnover	0.69	0.33	1.42	0.70	0.84	0.42	0.75	0.53	0.85	0.95	0.88
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	723.98	324.69	944.74	856.04	963.06	588.96	865.63	911.37	747.39	605.56	628.30
Days Payable Outstanding (DPO)	529.42	1,122.68	256.20	524.78	432.91	878.19	489.31	690.77	430.41	385.60	416.74
Cash Conversion Cycle (CCC)	194.57	-797.99	688.55	331.25	530.15	-289.23	376.32	220.60	316.99	219.97	211.57
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-315	-302	-416	-414	-508	-500	-517	-483	-506	-52	-163
Invested Capital Turnover	-1.74	-1.76	-1.72	-1.81	-1.53	-2.85	-1.81	-1.92	-1.84	-7.58	-5.19
Increase / (Decrease) in Invested Capital	193	198	101	70	-1.20	-447	-354	-309	-386	50	12
Enterprise Value (EV)	4,005	4,630	4,779	6,279	5,415	6,372	5,669	4,960	4,116	4,740	5,521
Market Capitalization	4,796	5,520	5,857	6,957	6,220	7,258	6,501	5,871	5,109	5,365	6,278
Book Value per Share	$2.99	$3.73	$4.53	$1.81	$2.04	$2.70	$2.20	$2.99	$3.40	$4.03	$4.19
Tangible Book Value per Share	$2.99	$3.73	$4.53	$1.81	$2.04	$2.70	$2.20	$2.99	$3.40	$4.03	$3.98
Total Capital	1,830	1,996	2,067	1,665	1,699	1,831	1,719	1,902	1,840	1,935	1,819
Total Debt	1,354	1,407	1,405	1,401	1,402	1,445	1,404	1,474	1,354	1,362	1,224
Total Long-Term Debt	1,354	1,407	1,360	1,357	1,358	1,400	1,404	1,474	1,354	1,362	1,224
Net Debt	-791	-890	-1,078	-677	-804	-886	-832	-912	-993	-625	-757
Capital Expenditures (CapEx)	13	25	9.06	6.23	4.49	-0.82	2.14	12	10	4.14	5.54
Debt-free, Cash-free Net Working Capital (DFCFNWC)	23	13	-30	-11	-74	-93	-55	-57	-63	-96	-113
Debt-free Net Working Capital (DFNWC)	2,169	2,311	2,454	2,068	2,132	2,238	2,180	2,329	2,283	1,891	1,869
Net Working Capital (NWC)	2,169	2,311	2,409	2,023	2,088	2,194	2,180	2,329	2,283	1,891	1,869
Net Nonoperating Expense (NNE)	44	27	36	20	38	4.98	47	22	44	-93	5.58
Net Nonoperating Obligations (NNO)	-791	-890	-1,078	-677	-804	-886	-832	-912	-993	-625	-757
Total Depreciation and Amortization (D&A)	-0.07	-2.51	-1.97	-2.64	-1.94	-1.21	-0.62	-0.27	2.05	6.68	7.65
Debt-free, Cash-free Net Working Capital to Revenue	3.27%	1.89%	-3.68%	-1.36%	-9.50%	-11.82%	-8.97%	-8.98%	-11.00%	-16.30%	-12.91%
Debt-free Net Working Capital to Revenue	302.35%	327.73%	305.55%	254.18%	274.58%	284.15%	354.52%	369.30%	396.44%	321.97%	213.44%
Net Working Capital to Revenue	302.35%	327.73%	300.01%	248.72%	268.86%	278.52%	354.52%	369.30%	396.44%	321.97%	213.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.93)	($0.66)	($0.95)	($0.45)	($0.98)	($0.06)	($1.03)	($0.60)	($0.87)	($0.37)	($0.33)
Adjusted Weighted Average Basic Shares Outstanding	158.74M	149.51M	148.59M	145.96M	145.54M	143.19M	143.32M	143.10M	142.74M	141.85M	141.95M
Adjusted Diluted Earnings per Share	($0.93)	($0.66)	($0.95)	($0.45)	($0.98)	($0.06)	($1.03)	($0.60)	($0.87)	($0.37)	($0.33)
Adjusted Weighted Average Diluted Shares Outstanding	158.74M	149.51M	148.59M	145.96M	145.54M	143.19M	143.32M	143.10M	142.74M	141.85M	141.95M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	159.16M	158.96M	157.90M	146.21M	145.97M	145.75M	143.47M	143.33M	143.09M	142.95M	142.05M
Normalized Net Operating Profit after Tax (NOPAT)	-103	-78	-104	-46	-105	-4.29	-100	-63	-80	-146	-41
Normalized NOPAT Margin	-78.11%	-34.24%	-77.76%	-20.54%	-87.58%	-1.32%	-69.54%	-33.51%	-61.22%	-95.87%	-25.92%
Pre Tax Income Margin	-111.56%	-47.24%	-107.69%	-29.39%	-119.44%	-0.85%	-97.64%	-41.11%	-86.53%	-29.19%	-29.24%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-6.38	-4.89	-6.54	-2.87	-6.75	-0.26	-6.41	-3.96	-6.65	-33.68	-25.45
NOPAT to Interest Expense	-4.48	-3.39	-4.59	-2.03	-4.73	-0.19	-4.56	-3.17	-4.67	-84.12	-19.36
EBIT Less CapEx to Interest Expense	-6.93	-6.01	-6.94	-3.15	-6.95	-0.23	-6.50	-4.56	-7.26	-36.07	-28.04
NOPAT Less CapEx to Interest Expense	-5.03	-4.51	-4.98	-2.30	-4.94	-0.15	-4.66	-3.77	-5.28	-86.51	-21.95
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Ionis Pharmaceuticals' Financials

When does Ionis Pharmaceuticals's financial year end?

According to the most recent income statement we have on file, Ionis Pharmaceuticals' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Ionis Pharmaceuticals' net income changed over the last 9 years?

Ionis Pharmaceuticals' net income appears to be on an upward trend, with a most recent value of -$453.90 million in 2024, rising from -$88.28 million in 2015. The previous period was -$366.29 million in 2023. Check out Ionis Pharmaceuticals' forecast to explore projected trends and price targets.

What is Ionis Pharmaceuticals's operating income?

Ionis Pharmaceuticals's total operating income in 2024 was -$475.08 million, based on the following breakdown:

Total Gross Profit: $693.92 million
Total Operating Expenses: $1.17 billion

How has Ionis Pharmaceuticals revenue changed over the last 9 years?

Over the last 9 years, Ionis Pharmaceuticals' total revenue changed from $283.70 million in 2015 to $705.14 million in 2024, a change of 148.5%.

How much debt does Ionis Pharmaceuticals have?

Ionis Pharmaceuticals' total liabilities were at $2.42 billion at the end of 2024, a 7.2% decrease from 2023, and a 223.3% increase since 2015.

How much cash does Ionis Pharmaceuticals have?

In the past 9 years, Ionis Pharmaceuticals' cash and equivalents has ranged from $84.69 million in 2016 to $869.19 million in 2021, and is currently $242.08 million as of their latest financial filing in 2024.

How has Ionis Pharmaceuticals' book value per share changed over the last 9 years?

Over the last 9 years, Ionis Pharmaceuticals' book value per share changed from 1.67 in 2015 to 3.73 in 2024, a change of 122.9%.

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This page (NASDAQ:IONS) was last updated on 5/25/2025 by MarketBeat.com Staff

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Ionis Pharmaceuticals (IONS) Financials

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Ionis Pharmaceuticals (IONS) Financials

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