What is Ionis Pharmaceuticals's state taxes?

Ionis Pharmaceuticals (IONS) reported state taxes of -$162K in Q4 2025.

What does state taxes mean?

The net cash paid to state and local governments for income taxes.

How do you interpret state taxes?

Changes reflect shifts in state-level profitability or changes in state tax legislation and nexus.

How does state taxes compare across companies?

Varies by the company's operational footprint and the tax laws of the states where it conducts business.

Ionis Pharmaceuticals IONS State taxes

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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

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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

Reported directly by Ionis Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:IncomeTaxPaidStateAndLocalAfterRefundReceived.

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 taxes?: Ionis Pharmaceuticals (IONS) reported state taxes of -$162K in Q4 2025.
What does state taxes mean?: The net cash paid to state and local governments for income taxes.
How do you interpret state taxes?: Changes reflect shifts in state-level profitability or changes in state tax legislation and nexus.
How does state taxes compare across companies?: Varies by the company's operational footprint and the tax laws of the states where it conducts business.