Ionis Pharmaceuticals (IONS) Gross Margin (2018 - 2026)
Ionis Pharmaceuticals (IONS) posted quarterly Gross Margin of 98.98% for Q2 2026, down 10.0% year-over-year from 109.98% in Q2 2025, and up 5.26% quarter-over-quarter from 94.03% in Q1 2026.
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Ionis Pharmaceuticals (IONS) Gross Margin (2018 - 2026) Analysis & Trends
Ionis Pharmaceuticals' Gross Margin history runs 9 years deep, the most recent figure standing at 98.98% for Q2 2026.
- In Q2 2026, Gross Margin fell 10.0% year-over-year to 98.98%; the TTM figure through Jun 2026 stood at 97.64% (down 125.0% YoY), while the FY2025 annual figure was 98.31%, down 10.0% from the prior year.
- Gross Margin for Q2 2026 stood at 98.98%, up from 94.03% in the prior quarter.
- The five-year high for Gross Margin was 99.2% in Q3 2024, with the low at 94.03% in Q1 2026.
- The 5-year median for Gross Margin is 98.49% (2023), against an average of 98.04%.
- The sharpest annual moves came in 2023 and 2026: Gross Margin soared 220 bps in 2023, then sank 485 bps in 2026.
- Ionis Pharmaceuticals' Gross Margin stood at 97.57% in 2022, then increased by 2 bps to 99.06% in 2023, then retreated by 1 bps to 98.31% in 2024, then declined by 2 bps to 96.09% in 2025, then advanced by 3 bps to 98.98% in 2026.
- Business Quant data shows IONS's Gross Margin at 98.98% in Q2 2026, 94.03% in Q1 2026, and 96.09% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 138.47 Bn | 130.62 Bn | 2.84 Bn | 85.33% |
| 2 | Regeneron Pharmaceuticals | 85.18 Bn | 77.19 Bn | 3.93 Bn | 91.59% |
| 3 | Argenx Se | 63.38 Bn | 58.19 Bn | 1.37 Bn | 90.43% |
| 4 | Moderna | 58.09 Bn | 52.95 Bn | 52.00 Mn | 35.86% |
| 5 | Revolution Medicines | 44.33 Bn | 44.33 Bn | - | - |
| 6 | BeOne Medicines | 40.02 Bn | 34.92 Bn | 1.53 Bn | 89.76% |
| 7 | Alnylam Pharmaceuticals | 35.57 Bn | 32.27 Bn | 992.69 Mn | 76.90% |
| 8 | Royalty Pharma | 28.45 Bn | 27.61 Bn | - | - |
| 9 | Insmed | 27.48 Bn | 26.32 Bn | 358.27 Mn | 84.20% |
| 10 | Ionis Pharmaceuticals | 9.60 Bn | 7.55 Bn | 265.21 Mn | 98.98% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 98.98% |
| Mar 31, 2026 | 98.79% |
| Dec 31, 2025 | 96.09% |
| Sep 30, 2025 | 98.51% |
| Jun 30, 2025 | 99.08% |
| Mar 31, 2025 | 98.89% |
| Dec 31, 2024 | 98.31% |
| Sep 30, 2024 | 99.20% |
| Jun 30, 2024 | 98.15% |
| Mar 31, 2024 | 98.20% |
| Dec 31, 2023 | 99.06% |
| Sep 30, 2023 | 98.48% |
| Jun 30, 2023 | 98.65% |
| Mar 31, 2023 | 98.97% |
| Dec 31, 2022 | 97.57% |
| Sep 30, 2022 | 99.05% |
| Jun 30, 2022 | 96.45% |
| Mar 31, 2022 | 97.06% |
| Dec 31, 2021 | 99.49% |
| Sep 30, 2021 | 97.69% |