MARKETS / NASDAQ / IONS
NASDAQ · PHARMACEUTICAL PREPARATIONS · LARGE CAP

Ionis Pharmaceuticals, Inc. IONS

18 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
$943.7M
▲ 33.8% vs FY2024
EPS · FY25
$-2.38
Dividend / sh · FY25
Payout · FY25
ROE · FY25
-70.8%
Net margin · FY25
-40.4%
Dividend coverage
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Result
USD 943.7M
Revenue, FY2025 · full 18-year series below
Revenue Net income
0.40.81.20.9-0.42008201120142017202020232025
0.40.81.20.9-0.42016201920222025

The company lost 40 cents on every revenue dollar this year.

Per share
USD -2.38
Diluted EPS, FY2025
EPS
0.81.62.4-2.382008201120142017202020232025
0.81.62.4-2.382016201920222025

The company pays no cash dividend.

Profitability
-70.8%
Return on equity, FY2025
ROE
204060-70.8%2008201120142017202020232025
204060-70.8%2016201920222025
Operating margin-40.4%
Net margin-40.4%
Return on assets-11.7%

Each USD of equity lost 71 cents this year.

Returned to shareholders
returned in FY2025 · dividends + net buybacks
Dividends paid
Net buybacks
Share of profit
Consecutive raises

Growth
+5.3% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+17.1%
+5.3%
+12.8%
+15.5%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.16B
Shares outstanding, FY2025
0.100.162008201120142017202020232025
0.120.162016201920222025
Change, 5 years+16.3%
Change, 10 years+35.7%

The share count grew 16% in five years — the same company, cut into more, smaller slices.

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Balance sheet
USD 3.5B
total assets, end of FY2025
Total assetsUSD 3.5B
EquityUSD 489.1M
CashUSD 372.3M
Gross debtUSD 1.8B
Net debtUSD 1.4B
Current ratio3.83×

Net debt stands at 284% of equity.

History
18 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
Revenue $B
0.9
0.7
0.8
0.6
0.8
0.7
1.1
0.6
0.5
0.4
0.3
0.2
0.1
0.1
0.1
0.1
0.1
0.1
Operating income $B
−0.4
−0.5
−0.4
−0.4
−0.0
−0.2
0.4
−0.1
0.0
−0.0
−0.1
−0.0
−0.1
−0.1
−0.1
−0.0
−0.0
−0.0
EBITDA $B
−0.4
−0.5
−0.3
−0.4
−0.0
−0.2
0.4
−0.1
0.0
−0.0
−0.1
−0.0
−0.0
−0.1
−0.1
−0.0
−0.0
−0.0
Income tax $B
0.0
−0.0
0.0
0.0
−0.0
0.3
0.1
−0.3
−0.0
0.0
0.0
−0.0
−0.0
−0.0
0.0
0.0
0.0
·
Net income $B
−0.4
−0.5
−0.4
−0.3
−0.0
−0.4
0.3
0.3
0.0
−0.1
−0.1
−0.0
−0.1
−0.1
−0.1
−0.1
0.2
−0.0
EPS, diluted $
−2.38
−3.04
−2.56
−1.90
−0.20
−3.18
1.90
2.07
0.15
−0.50
−0.74
−0.33
−0.55
−0.65
−0.85
−0.62
1.58
−0.19
Dividend / sh $
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Payout %
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
ROE %
−70.8
−93.1
−76.3
−40.1
−3.8
−40.1
22.1
41.2
0.2
−40.2
−38.5
−12.3
−21.6
−37.0
−40.8
−22.8
51.6
·
Shares out B
0.16
0.16
0.14
0.14
0.14
0.14
0.14
0.14
0.12
0.12
0.12
0.12
0.12
0.10
0.10
0.10
0.10
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
52 of 52
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed