What is Ardelyx's return on invested capital?

Ardelyx (ARDX) reported return on invested capital of -12.5% in Q1 2026.

What is the long-term trend for Ardelyx's return on invested capital?

Over 3 years (2020 to 2025), Ardelyx's return on invested capital has grown at a -66.5% compound annual growth rate (CAGR), from -379.7% to -14.3%.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Ardelyx ARDX Return on invested capital

Return on invested capital at other companies

AmgenAMGN

14.1%+4.0pp

Bausch Health CompaniesBHC

3.2%-0.7pp

AbbVieABBV

17.1%—

XER

Xeris Biopharma Holdings, Inc.XERS

21.4%+15.6pp

Eton Pharmaceuticals, Inc.ETON

-45.1%-22.2pp

Neurocrine BiosciencesNBIX

17.5%+5.1pp

Other financials

Income statement

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Revenue$94.5M+27.5%

Gross profit$89.7M+45.1%

Operating income-$32.8M+9.8%

Net income-$37.6M+8.6%

EPS (diluted)-$0.15+11.8%

Balance sheet

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Cash & equivalents$31.2M+1.3%

Total debt$208.3M+34.3%

Total equity$148.6M+2.0%

Total assets$504.5M+23.0%

Cash flow

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Operating cash flow-$32.2M+16.2%

CapEx$69.0K-78.8%

Free cash flow-$32.3M+16.7%

Valuation

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Market cap$1.53B+79.5%

Enterprise value$1.71B+74.8%

P/S3.6×+1.2×

Profitability

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Gross margin92.5%+7.9pp

Operating margin-25.4%—

Net margin-13.6%—

FCF margin-40.9%—

Returns & leverage

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Return on equity-39.5%—

Debt / equity1.4×+0.3×

Current ratio3.5×-0.6×

Where this comes from

Calculated from Ardelyx’s reported figures.

nopat/invested capital=-12.5%

Based on trailing twelve months.

The official record: Ardelyx’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ardelyx's return on invested capital?: Ardelyx (ARDX) reported return on invested capital of -12.5% in Q1 2026.
What is the long-term trend for Ardelyx's return on invested capital?: Over 3 years (2020 to 2025), Ardelyx's return on invested capital has grown at a -66.5% compound annual growth rate (CAGR), from -379.7% to -14.3%.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.