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Ionis Pharmaceuticals IONS Effective tax rates

Effective tax rates at other companies

BioCryst Pharmaceuticals logo
BioCryst PharmaceuticalsBCRX
$0+150%

Other financials

Income statement

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Revenue$267.9M-40.7%
Gross profit$265.2M-40.8%
Operating income-$102.3M-173%
Net income-$114.6M-193%
EPS (diluted)-$0.69-199%

Balance sheet

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Cash & equivalents$350.1M+17.7%
Total debt$262.5M-67.0%
Total equity$439.7M-30.4%
Total assets$3.0B+0.3%

Cash flow

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Operating cash flow-$792.8M-426%
CapEx$16.1M+30.7%
Free cash flow-$814.6M-399%

Valuation

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Market cap$9.4B+44.4%
Enterprise value$9.31B+32.9%
P/S10.8×+3.9×

Profitability

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Gross margin98.2%-0.7pp
Operating margin-68%-234pp
Net margin-64.7%-299pp
FCF margin-77.4%+35.3pp

Returns & leverage

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Return on equity-105.5%+336pp
Debt / equity0.6×-0.7×
Current ratio7.9×+5.0×

Where this comes from

Reported directly by Ionis Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:EffectiveIncomeTaxRateContinuingOperations.

The source filing: Ionis Pharmaceuticals’s 10-K, filed February 26, 2026.

Filed
Feb 26, 2026, 4:25 PM EST
Fiscal year
FY2026
Accession
0000874015-26-000115
Tax credits:
Research and development tax credits(17,754)4.7%%
Orphan drug tax credits(30,521)8.0%%
Non-taxable or non-deductible items:
Stock-based compensation19,269(5.1)%
Other4,184(1.1)%
Other(288)0.1%%
Effective rate$1,786(0.5)%

Item 15. Exhibits and Financial Statement Schedules

FAQ

What is Ionis Pharmaceuticals's effective tax rates?
Ionis Pharmaceuticals (IONS) reported effective tax rates of -$0.01 in Q4 2025.
How has Ionis Pharmaceuticals's effective tax rates changed year-over-year?
Ionis Pharmaceuticals's effective tax rates decreased by 138.5% year-over-year, from $0.01 to -$0.01.
What is the long-term trend for Ionis Pharmaceuticals's effective tax rates?
Over 2 years (2023 to 2025), Ionis Pharmaceuticals's effective tax rates has grown at a -77.3% compound annual growth rate (CAGR), from -$0.17 to -$0.01.
What does effective tax rates mean?
This is the overall effective income tax rate for the company's continuing operations, calculated as the provision for income taxes divided by income before taxes. It represents the actual tax burden on core business activities.

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