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Ionis Pharmaceuticals profit margin IONS

Gross, operating and net profit as a share of revenue over the last twelve months, from 2010.

Net margin, 12 months
−64.7%
Operating margin, 12 months
−68.0%
Net margin on a year earlier
−36.2 pts
Peer median
8.1%

Over the twelve months to Jun 30, 2026, Ionis Pharmaceuticals kept −64.7% of its revenue as net profit, with an operating margin of −68.0% and a gross margin of 98.2%.

Five years earlier its net margin was −79.9%.

The median for 10 large drugmakers of a similar size is 8.1%.

Profit margin over time

GrossOperatingNet

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal yearNet marginOperating marginGross margin
FY2025−40.4%−40.4%98.3%
FY2024−64.4%−67.4%98.4%
FY2023−46.5%−44.9%98.8%
FY2022−45.9%−69.8%97.6%
FY2021−3.5%−3.7%98.7%
FY2020−60.9%−23.6%98.4%
FY201926.2%32.6%99.6%
FY201845.6%−10.2%99.7%
FY20170.1%6.0%n/a
FY2016−25.0%−13.4%n/a
FY2015−31.1%−26.7%n/a
FY2014−18.2%−22.3%n/a
FY2013−41.2%−35.1%n/a
FY2012−64.2%−67.5%n/a
FY2011−85.6%−71.8%n/a

Quarter by quarter

QuarterEndedNet margin, 12 monthsChange on a yearOperating margin
Q2 FY26−64.7%−36.2 pts−68.0%
Q1 FY26−30.9%+33.0 pts−33.3%
Q4 FY25−40.4%+24.0 pts−40.4%
Q3 FY25−26.5%+18.2 pts−28.8%
Q2 FY25−28.4%+16.6 pts−28.2%
Q1 FY25−63.9%−14.3 pts−65.9%
Q4 FY24−64.4%−17.9 pts−67.4%
Q3 FY24−44.7%+21.9 pts−46.1%
Q2 FY24−45.0%+4.0 pts−44.9%
Q1 FY24−49.5%+7.6 pts−50.1%
Q4 FY23−46.5%−0.6 pts−44.9%
Q3 FY23−66.6%−67.4 pts−90.3%

Against its peers

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

CompanyProfit margin
IONSIonis Pharmaceuticals−64.7%
ALKSAlkermes plc.4.0%
AMRXAmneal Pharmaceuticals5.0%
TGTXTG Therapeutics55.2%
LGNDLigand Pharmaceuticals67.9%
KNSAKiniksa Pharmaceuticals International9.6%
PTGXProtagonist Therapeutics29.4%
CORTCorcept Therapeutics6.6%
BMRNBiomarin Pharmaceutical2.1%
INDVIndivior Pharmaceuticals26.7%
ARQTArcutis Biotherapeutics6.1%
Peer median8.1%

Where Ionis Pharmaceuticals ranks

What the profit margin tells you

Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).

Compare within an industry. 10% is superb for a retailer and poor for a software company.

More on Ionis Pharmaceuticals

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