IONS PE Ratio & Valuation,Is IONS Overvalued

IONS Relative Valuation

IONS's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, IONS is overvalued; if below, it's undervalued.

Historical Valuation

Ionis Pharmaceuticals Inc (IONS) is now in the Fair zone, suggesting that its current forward PS ratio of 17.04 is considered Fairly compared with the five-year average of -25.03. The fair price of Ionis Pharmaceuticals Inc (IONS) is between 71.10 to 87.42 according to relative valuation methord.

Relative Value

Fair Zone

71.10-87.42

Current Price：80.38

Fair

-29.99

-21.43

EV/EBITDA

Ionis Pharmaceuticals Inc. (IONS) has a current EV/EBITDA of -21.43. The 5-year average EV/EBITDA is -16.16. The thresholds are as follows: Strongly Undervalued below -33.30, Undervalued between -33.30 and -24.73, Fairly Valued between -7.59 and -24.73, Overvalued between -7.59 and 0.98, and Strongly Overvalued above 0.98. The current Forward EV/EBITDA of -21.43 falls within the Historic Trend Line -Fairly Valued range.

-22.61

EV/EBIT

Ionis Pharmaceuticals Inc. (IONS) has a current EV/EBIT of -22.61. The 5-year average EV/EBIT is -14.08. The thresholds are as follows: Strongly Undervalued below -46.61, Undervalued between -46.61 and -30.34, Fairly Valued between 2.19 and -30.34, Overvalued between 2.19 and 18.46, and Strongly Overvalued above 18.46. The current Forward EV/EBIT of -22.61 falls within the Historic Trend Line -Fairly Valued range.

17.04

Ionis Pharmaceuticals Inc. (IONS) has a current PS of 17.04. The 5-year average PS is 9.59. The thresholds are as follows: Strongly Undervalued below 5.26, Undervalued between 5.26 and 7.43, Fairly Valued between 11.75 and 7.43, Overvalued between 11.75 and 13.91, and Strongly Overvalued above 13.91. The current Forward PS of 17.04 falls within the Strongly Overvalued range.

-44.01

P/OCF

Ionis Pharmaceuticals Inc. (IONS) has a current P/OCF of -44.01. The 5-year average P/OCF is -25.00. The thresholds are as follows: Strongly Undervalued below -56.50, Undervalued between -56.50 and -40.75, Fairly Valued between -9.25 and -40.75, Overvalued between -9.25 and 6.49, and Strongly Overvalued above 6.49. The current Forward P/OCF of -44.01 falls within the Undervalued range.

-30.35

P/FCF

Ionis Pharmaceuticals Inc. (IONS) has a current P/FCF of -30.35. The 5-year average P/FCF is -215.41. The thresholds are as follows: Strongly Undervalued below -1905.49, Undervalued between -1905.49 and -1060.45, Fairly Valued between 629.63 and -1060.45, Overvalued between 629.63 and 1474.67, and Strongly Overvalued above 1474.67. The current Forward P/FCF of -30.35 falls within the Historic Trend Line -Fairly Valued range.

Ionis Pharmaceuticals Inc (IONS) has a current Price-to-Book (P/B) ratio of 21.07. Compared to its 3-year average P/B ratio of 15.21 , the current P/B ratio is approximately 38.50% higher. Relative to its 5-year average P/B ratio of 12.54, the current P/B ratio is about 68.03% higher. Ionis Pharmaceuticals Inc (IONS) has a Forward Free Cash Flow (FCF) yield of approximately -2.31%. Compared to its 3-year average FCF yield of -6.34%, the current FCF yield is approximately -63.55% lower. Relative to its 5-year average FCF yield of -3.73% , the current FCF yield is about -38.08% lower.

21.07

P/B

Median3y

15.21

Median5y

12.54

-2.31

FCF Yield

Median3y

-6.34

Median5y

-3.73

Competitors Valuation Multiple

The average P/S ratio for IONS's competitors is 39.70, providing a benchmark for relative valuation. Ionis Pharmaceuticals Inc Corp (IONS) exhibits a P/S ratio of 17.04, which is -57.09% above the industry average. Given its robust revenue growth of 17.12%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

Revenue Growth

Market Cap

Performance Decomposition

Market capitalization of IONS increased by 131.18% over the past 1 year. The primary factor behind the change was an decrease in P/E Change from -21.24 to -50.09.

The secondary factor is the Revenue Growth, contributed 17.12%to the performance.

Overall, the performance of IONS in the past 1 year is driven by P/E Change. Which is more unsustainable.

17.12%

133.81M → 156.72M

Revenue Growth

-21.83%

-104.98 → -82.06

Margin Expansion

135.89%

-21.24 → -50.09

P/E Change

131.18%

34.96 → 80.82

Mkt Cap Growth

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Frequently Asked Questions

Is Ionis Pharmaceuticals Inc (IONS) currently overvalued or undervalued?

What is Ionis Pharmaceuticals Inc (IONS) fair value?

IONS's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average , adjusted by weights. The fair price of Ionis Pharmaceuticals Inc (IONS) is between 71.10 to 87.42 according to relative valuation methord.

How does IONS's valuation metrics compare to the industry average?

What is the current P/B ratio for Ionis Pharmaceuticals Inc (IONS) as of Dec 15 2025?

As of Dec 15 2025, Ionis Pharmaceuticals Inc (IONS) has a P/B ratio of 21.07. This indicates that the market values IONS at 21.07 times its book value.

What is the current FCF Yield for Ionis Pharmaceuticals Inc (IONS) as of Dec 15 2025?

As of Dec 15 2025, Ionis Pharmaceuticals Inc (IONS) has a FCF Yield of -2.31%. This means that for every dollar of Ionis Pharmaceuticals Inc’s market capitalization, the company generates -2.31 cents in free cash flow.

What is the current Forward P/E ratio for Ionis Pharmaceuticals Inc (IONS) as of Dec 15 2025?

As of Dec 15 2025, Ionis Pharmaceuticals Inc (IONS) has a Forward P/E ratio of -29.99. This means the market is willing to pay $-29.99 for every dollar of Ionis Pharmaceuticals Inc’s expected earnings over the next 12 months.

What is the current Forward P/S ratio for Ionis Pharmaceuticals Inc (IONS) as of Dec 15 2025?

As of Dec 15 2025, Ionis Pharmaceuticals Inc (IONS) has a Forward P/S ratio of 17.04. This means the market is valuing IONS at $17.04 for every dollar of expected revenue over the next 12 months.

IONS Valuation