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

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	98.4%-0.2pp	98.3%-0.1pp	98.8%+0.1pp	98.9%+0.3pp	98.5%-0.2pp
Operating margin	-33.3%+32.6pp	-40.4%+26.9pp	-28.8%+17.4pp	-28.2%+16.6pp	-65.9%-15.8pp
Net margin	-30.9%+33.0pp	-40.4%+24.0pp	-26.5%+18.2pp	-28.4%+16.6pp	-63.9%-14.3pp
Returns
Return on equity	-67.6%+51.0pp	-70.8%+22.3pp	-40%+33.3pp	-59.9%+45.8pp	-118.6%-20.4pp
Return on invested capital	-51%+127pp	-24.2%+91.4pp	-32.4%+101pp	-40.7%+178pp	-177.7%-19.4pp
Efficiency
Asset turnover	0.3×+0.1×	0.3×+0.1×	0.3×0.0×	0.3×0.0×	0.3×0.0×
Liquidity
Current ratio	4.1×-5.6×	3.8×-4.6×	2.8×-6.1×	2.9×-4.7×	9.7×+2.3×
Leverage
Debt-to-equity	1.4×+1.1×	5×+4.7×	1.4×+1.1×	1.3×+0.5×	0.3×-0.4×
Per Share
Book value per share	$2.98-0.6%	$3.06-22.3%	$3.87-13.2%	$3.46+91.8%	$3.00+47.1%
Valuation
Market capitalization	$12.4B+159%	$12.81B+132%	$10.43B+78.3%	$6.31B-9.0%	$4.8B-23.2%
Price / sales	11.7×+5.0×	13.6×+5.7×	10.8×+3.5×	6.7×-1.8×	6.7×-1.4×
Price / book	25.2×+15.2×	26.2×+16.8×	16.9×+8.0×	10×-16.3×	10.1×-11.0×

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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.