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EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Ionis Pharmaceuticals's Enterprise Value is $9,383.8 Mil.
Ionis Pharmaceuticals's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was $-496.4 Mil. Therefore, Ionis Pharmaceuticals's EV-to-OCF for today is -18.90.
The historical rank and industry rank for Ionis Pharmaceuticals's EV-to-OCF or its related term are showing as below:
IONS'
s EV-to-OCF Range Over the Past 10 Years
Min: -485.91 Med: 7.83 Max: 213.39
Current: -18.9
During the past 13 years, the highest EV-to-OCF of Ionis Pharmaceuticals was 213.39. The lowest was -485.91. And the median was 7.83.
IONS's EV-to-OCF is ranked better than 80.06% of 1409
companies
in the Biotechnology industry
Industry Median: -3.6
vs IONS: -18.90
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Ionis Pharmaceuticals's PE Ratio (TTM) for today is calculated as:
Ionis Pharmaceuticals's share price for today is $59.12.
Ionis Pharmaceuticals's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-3.460.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
* 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.
For the Biotechnology subindustry, Ionis Pharmaceuticals's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Ionis Pharmaceuticals's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Ionis Pharmaceuticals's EV-to-OCF falls into.
Ionis Pharmaceuticals's current Enterprise Value is $9,383.8 Mil.
Ionis Pharmaceuticals's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-496.4 Mil.
* 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 (IONS) has a EV-to-OCF of -18.90 as of Aug. 18, 2026. According to the industry distribution chart, Ionis Pharmaceuticals ranks #281 out of 1409 companies in the Biotechnology industry, placing it in the top 19.9%.
Is Ionis Pharmaceuticals' EV-to-OCF too high?
Ionis Pharmaceuticals' current EV-to-OCF is -18.90. Based on the distribution chart, Ionis Pharmaceuticals ranks #281 out of 1409 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Ionis Pharmaceuticals has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ionis Pharmaceuticals' EV-to-OCF compare to KYMR and PRAX?
According to the Biotechnology industry distribution chart, Ionis Pharmaceuticals ranks #281 out of 1409 companies for EV-to-OCF. This places Ionis Pharmaceuticals in the top 20% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Biotechnology company?
A good EV-to-OCF depends on the Biotechnology industry context. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. Ionis Pharmaceuticals's current EV-to-OCF is -18.90. 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?
Based on GuruFocus' analysis, Ionis Pharmaceuticals (IONS) is currently considered Modestly Overvalued. The stock's GF Value™ is $48.10, compared to a current price of $59.12 — trading 22.9% above its estimated fair value. The current EV-to-OCF is -18.90. Ionis Pharmaceuticals' overall GF Score™ is 70/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Ionis Pharmaceuticals (IONS), the current EV-to-OCF is -18.90 as of Aug. 18, 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 (IONS) Overvalued in 2026?
Based on GuruFocus' analysis, Ionis Pharmaceuticals stock appears to be overvalued.
The current stock price of $59.12 is trading 22.9% above its estimated GF Value™ of $48.10.
GuruFocus considers Ionis Pharmaceuticals to be Modestly Overvalued.
Key valuation signals for IONS:
EV-to-OCF: -18.90
GF Value™: $48.10 vs. price of $59.12 (22.9% above fair value)
No single metric tells the full story. See the 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).
70GF Score
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EV-to-OCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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