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A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Ionis Pharmaceuticals's Debt-to-Equity or its related term are showing as below:
MEX:IONS'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.49 Med: 2.19 Max: 5.75
Current: 4.15
During the past 13 years, the highest Debt-to-Equity Ratio of Ionis Pharmaceuticals was 5.75. The lowest was 0.49. And the median was 2.19.
MEX:IONS's Debt-to-Equity is ranked worse than 97.51% of 965
companies
in the Biotechnology industry
Industry Median: 0.16
vs MEX:IONS: 4.15
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Ionis Pharmaceuticals Debt-to-Equity Related Terms
Ionis Pharmaceuticals Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Ionis Pharmaceuticals's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:IONS vs KYMR, PRAX, HALO: Debt-to-Equity Comparison
For the Biotechnology subindustry, Ionis Pharmaceuticals's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ionis Pharmaceuticals Debt-to-Equity vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Ionis Pharmaceuticals's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Ionis Pharmaceuticals's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Ionis Pharmaceuticals (MEX:IONS) has a Debt-to-Equity of 4.15 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Ionis Pharmaceuticals and its competitors. This is 89% above median its historical median of 2.19. Over the past decade, Ionis Pharmaceuticals' Debt-to-Equity has ranged from 0.49 to 5.75. According to the industry distribution chart, Ionis Pharmaceuticals ranks #941 out of 965 companies in the Biotechnology industry, placing it in the top 97.5%.
Is Ionis Pharmaceuticals' Debt-to-Equity too high?
Ionis Pharmaceuticals' current Debt-to-Equity of 4.15 is 89% above median its 10-year median of 2.19. Over the past 10 years, this metric has ranged from a low of 0.49 to a high of 5.75. The Biotechnology industry median Debt-to-Equity is 0.16. Ionis Pharmaceuticals' value of 4.15 is 2493.8% above this industry median. Based on the distribution chart, Ionis Pharmaceuticals ranks #941 out of 965 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Ionis Pharmaceuticals has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does Ionis Pharmaceuticals' Debt-to-Equity compare to KYMR and PRAX?
According to the Biotechnology industry distribution chart, Ionis Pharmaceuticals ranks #941 out of 965 companies for Debt-to-Equity. This places Ionis Pharmaceuticals in the lower half of its industry. The industry median Debt-to-Equity is 0.16. Ionis Pharmaceuticals' value of 4.15 is 2493.8% above this benchmark. Historically, Ionis Pharmaceuticals' own Debt-to-Equity has ranged from 0.49 to 5.75 over the past decade. While the company's 10-year median is 2.19 vs. the industry median of 0.16, Ionis Pharmaceuticals has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Biotechnology company?
The median Debt-to-Equity among Biotechnology companies is 0.16, based on 965 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ionis Pharmaceuticals's current Debt-to-Equity of 4.15 is 2493.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Ionis Pharmaceuticals and its competitors. For the Biotechnology industry, the median Debt-to-Equity is 0.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ionis Pharmaceuticals's current Debt-to-Equity is 4.15, which is 89% above median its own 10-year median of 2.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ionis Pharmaceuticals stock overvalued right now?
Ionis Pharmaceuticals (MEX:IONS) has a current Debt-to-Equity of 4.15. The stock's GF Value™ is MXN1,086.15, compared to a current price of MXN1,150.00 — trading 5.9% above its estimated fair value. The current Debt-to-Equity is 4.15, which is 89% above median its 10-year median of 2.19 and 2493.8% above the Biotechnology industry median of 0.16. Ionis Pharmaceuticals' overall GF Score™ is 71/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Ionis Pharmaceuticals (MEX:IONS), the current Debt-to-Equity is 4.15 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ionis Pharmaceuticals (MEX:IONS) Overvalued in 2026?
Based on GuruFocus' analysis, Ionis Pharmaceuticals stock appears to be overvalued.
The current stock price of MXN1,150.00 is trading 5.9% above its estimated GF Value™ of MXN1,086.15.
Key valuation signals for MEX:IONS:
Debt-to-Equity: 4.15 (89% above median its 10-year median of 2.19)
GF Value™: MXN1,086.15 vs. price of MXN1,150.00 (5.9% above fair value)
Industry Position: 2493.8% above the Biotechnology median (#941 of 965)
No single metric tells the full story. See the MEX:IONS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ionis Pharmaceuticals is the leading developer of antisense technology to discover and develop novel drugs. Its broad clinical and preclinical pipeline targets a wide variety of diseases, with an emphasis on cardiovascular, metabolic, neurological, and rare diseases. Ionis and Biogen brought Spinraza to market in 2016 as a treatment for spinal muscular atrophy, and Biogen launched ALS drug Qalsody in 2023. Ionis brought two additional drugs to market via its cardiovascular-focused subsidiary Akcea, including ATTR amyloidosis drug Tegsedi (2018) and cardiology drug Waylivra (Europe, 2019). Ionis and AstraZeneca launched polyneuropathy drug Wainua in 2024. Ionis marked its first two independent launches in 2025 for Tryngolza (for FCS) and Dawnzera (for HAE).
71GF Score
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