What is Ionis Pharmaceuticals's state?

Ionis Pharmaceuticals (IONS) reported state of $0 in Q4 2025.

What does state mean?

Non-cash state and local tax impacts resulting from timing differences between accounting and tax rules.

How do you interpret state?

Fluctuations indicate changes in the timing of deductions or income recognition for state tax purposes.

How does state compare across companies?

Standard component of the deferred tax reconciliation in financial statements.

Ionis Pharmaceuticals IONS State

State at other companies

Huntington Ingalls IndustriesHII

-$4M-300%

Williams CompaniesWMB

$256M+22.5%

Wintrust FinancialWTFC

$702.25K+567%

Antero ResourcesAR

-$25.57M-236%

Carrier GlobalCARR

$374M-1.8%

Two Harbors Investment CorporationTWO

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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

Operating margin-33.3%-11.0pp

Net margin-30.9%-10.5pp

FCF margin-77.4%+35.3pp

Returns & leverage

See full

Return on equity-67.6%-20.3pp

Debt / equity1.4×+1.1×

Current ratio4.1×-5.6×

Where this comes from

Reported directly by Ionis Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit.

The official record: Ionis Pharmaceuticals’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ionis Pharmaceuticals's state?: Ionis Pharmaceuticals (IONS) reported state of $0 in Q4 2025.
What does state mean?: Non-cash state and local tax impacts resulting from timing differences between accounting and tax rules.
How do you interpret state?: Fluctuations indicate changes in the timing of deductions or income recognition for state tax purposes.
How does state compare across companies?: Standard component of the deferred tax reconciliation in financial statements.