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Operating margin at other companies

Arrowhead Research logo
Arrowhead ResearchARWR
-35.7%+63.6pp
ALN
Alnylam PharmaceuticalsALNY
17.5%+14.4pp
BridgeBio Pharma logo
BridgeBio PharmaBBIO
-90.5%-41.2pp
Neurocrine Biosciences logo
Neurocrine BiosciencesNBIX
25.4%+4.9pp
Roivant Sciences logo
Roivant SciencesROIV
-9,130.5%-13,995pp
Royalty Pharma logo
Royalty PharmaRPRX
65.1%-18.9pp

Other financials

Income statement

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Revenue$246.1M+87.0%
Gross profit$243.1M+86.8%
Operating income-$117.4M+20.0%
Net income-$92.5M+37.0%
EPS (diluted)-$0.56+39.8%

Balance sheet

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Cash & equivalents$173.4M-34.4%
Total debt$691.7M+334%
Total equity$491.4M+3.3%
Total assets$3.4B+22.6%

Cash flow

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Operating cash flow-$792.8M-426%
CapEx$21.8M+73.0%
Free cash flow-$814.6M-399%

Valuation

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Market cap$12.25B+159%
Enterprise value$12.77B+175%
P/S11.6×+5.0×

Profitability

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Gross margin98.4%-0.2pp
Net margin-30.9%-10.5pp
FCF margin-77.4%+35.3pp

Returns & leverage

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Return on equity-67.6%-20.3pp
Debt / equity1.4×+1.1×
Current ratio4.1×-5.6×

Where this comes from

Calculated from Ionis Pharmaceuticals’s reported figures.

Based on trailing twelve months.

The official record: Ionis Pharmaceuticals’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ionis Pharmaceuticals's operating margin?
Ionis Pharmaceuticals (IONS) reported operating margin of -33.3% in Q1 2026.
How has Ionis Pharmaceuticals's operating margin changed year-over-year?
Ionis Pharmaceuticals's operating margin increased by 49.5% year-over-year, from -65.9% to -33.3%.
What is the long-term trend for Ionis Pharmaceuticals's operating margin?
Over 5 years (2020 to 2025), Ionis Pharmaceuticals's operating margin has grown at a 11.4% compound annual growth rate (CAGR), from -23.6% to -40.4%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.