What are Ionis Pharmaceuticals's profit margins?

Ionis Pharmaceuticals (IONS) runs a 98.4% gross margin and a -33.3% operating margin, with a -30.9% net margin.

Where do Ionis Pharmaceuticals's ratios come from?

Every ratio is computed from Ionis Pharmaceuticals's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Ionis Pharmaceuticals IONS Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	98.4%0.0pp	98.3%-0.5pp	98.8%-0.1pp	98.9%+0.4pp	98.5%+0.1pp
Operating margin	-33.3%+7.2pp	-40.4%-11.7pp	-28.8%-0.5pp	-28.2%+37.6pp	-65.9%+1.5pp
Net margin	-30.9%+9.5pp	-40.4%-13.9pp	-26.5%+1.9pp	-28.4%+35.4pp	-63.9%+0.5pp
EBITDA margin	-32%+7.1pp	-39.1%-11.5pp	-27.6%-0.6pp	-27%+37.2pp	-64.3%+1.4pp
Returns
Return on equity	-67.6%+3.2pp	-70.8%-30.8pp	-40%+19.9pp	-59.9%+58.7pp	-118.6%-25.5pp
Return on assets	-10.4%+1.2pp	-11.7%-3.3pp	-8.4%+1.1pp	-9.5%+7.0pp	-16.4%-1.3pp
Return on invested capital	-51%-26.8pp	-24.2%+8.2pp	-32.4%+8.3pp	-40.7%+137pp	-177.7%-62.1pp
Efficiency
Asset turnover	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×+0.1×	0.3×0.0×
Inventory turnover	2×+0.6×	1.4×+0.8×	0.6×0.0×	0.6×+0.1×	0.5×-0.6×
Liquidity
Current ratio	4.1×+0.3×	3.8×+1.0×	2.8×-0.1×	2.9×-6.8×	9.7×+1.2×
Quick ratio	4.1×+0.3×	3.8×+1.0×	2.8×-0.1×	2.9×-6.8×	9.6×+1.2×
Cash ratio	0.2×-0.2×	0.5×+0.1×	0.4×0.0×	0.3×-0.7×	1.1×+0.3×
Leverage
Debt-to-equity	1.4×-3.6×	5×+3.6×	1.4×+0.2×	1.3×+0.9×	0.3×0.0×
Debt-to-assets	0.2×-0.5×	0.7×+0.4×	0.3×0.0×	0.3×+0.2×	0.1×0.0×
Interest coverage	-19.2×+2.9×	-22.1×-5.4×	-16.7×-0.6×	-16.1×+11.8×	-27.9×+0.1×
Per Share
Book value per share	$2.98-2.5%	$3.06-21.0%	$3.87+11.6%	$3.46+15.6%	$3.00-23.8%
Valuation
Market capitalization	$12.4B-3.2%	$12.81B+22.9%	$10.43B+65.3%	$6.31B+31.5%	$4.8B-13.1%
Enterprise value	$12.92B-13.3%	$14.91B+35.7%	$10.98B+61.4%	$6.81B+45.1%	$4.69B-14.7%
Price / sales	11.7×-1.9×	13.6×+2.8×	10.8×+4.1×	6.7×0.0×	6.7×-1.1×
Price / book	25.2×-1.0×	26.2×+9.3×	16.9×+6.9×	10×-0.1×	10.1×+0.7×
EV / sales	12.2×-3.6×	15.8×+4.4×	11.4×+4.1×	7.2×+0.7×	6.5×-1.3×
Earnings yield	-2.6%+0.3pp	-3%-0.5pp	-2.5%+1.8pp	-4.3%+5.3pp	-9.6%-1.3pp

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Questions, answered.

What are Ionis Pharmaceuticals's profit margins?: Ionis Pharmaceuticals (IONS) runs a 98.4% gross margin and a -33.3% operating margin, with a -30.9% net margin.
Where do Ionis Pharmaceuticals's ratios come from?: Every ratio is computed from Ionis Pharmaceuticals's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.