Ionis Pharmaceuticals price to free cash flow IONS

Market value divided by free cash flow over the last twelve months, since 2013.

Today, Oct 23, 2026: n/m; not a meaningful number
Last meaningful: 47.5×; Feb 2023
9-year median: 49.6×
9-year range: 11.5× to 314×
Peer median: 50.9×

Ionis Pharmaceuticals' price to free cash flow is not a meaningful number today: free cash flow over the last twelve months was zero, negative or not reported.

It was last meaningful in Feb 2023, at 47.5×.

On the days it had one over the last 9 years, its median was 49.6×, from 11.5× in Sep 2018 to 314× in Apr 2022.

Price to free cash flow over time

median 49.6×

The dashed line is the 9-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2023	47.5×	47.5×	50.4×
2022	46.5×	46.1×	314×
2021	45.3×	44.8×	48.5×
2020	44.4×	19.3×	55.5×
2019	53.9×	12.8×	61.3×
2018	14.5×	11.5×	190×
2017	63.7×	53.3×	91.2×
2016	368×	35.3×	390×
2015	61.8×	53.8×	77.3×
2014	91.6×	40.2×	111×
2013	41.4×	33.2×	200×

Against its peers

Companies in Drug Manufacturers - General nearest Ionis Pharmaceuticals' size, closest first, today.

Company	Price to free cash flow
IONSIonis Pharmaceuticals	n/m
ALKSAlkermes plc.	33.0×
AMRXAmneal Pharmaceuticals	50.9×
TGTXTG Therapeutics	477×
LGNDLigand Pharmaceuticals	46.0×
KNSAKiniksa Pharmaceuticals International	32.7×
PTGXProtagonist Therapeutics	68.6×
CORTCorcept Therapeutics	86.8×
BMRNBiomarin Pharmaceutical	14.7×
INDVIndivior Pharmaceuticals	n/m
ARQTArcutis Biotherapeutics	100×
Peer median	50.9×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Ionis Pharmaceuticals

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.