ARDXNasdaqPharmaceutical PreparationsFiscal year ends December 31
ARDELYX, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$3.09+0.00 (0.00%)
Close on Oct 19, 2026
- Market cap
- $766.53M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
90.3%−7.8 pts over 5 years
Operating margin
-10.1%+1189.0 pts over 5 years
Net margin
-15.1%+1230.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +22.1% | +98.4% | +121.9% | +32.7% | |
| Gross profit | +29.9% | +97.1% | +118.3% | +31.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -74.4% | -60.3% | -36.2% | |
| Return on assets | -68.1% | -40.9% | -13.1% | |
| Current ratio | 10.62 | 6.85 | 4.31 | |
| Interest coverage | – | -17.8× | -2.0× | |
| Inventory turnover | – | – | 0.4× | |
| Capex to revenue | – | 4.3% | 0.4% | |
| Diluted shares | 40M | 90M | 241M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Ardelyx generated $399.60M from operations and spent $4.77M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$399.60M
Used
$4.77M
Capital expenditure$4.77M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-15.1%
×Asset turnover0.87×
×Equity multiplier2.76×
=Return on equity, FY2025-36.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -15.1% | 0.87× | 2.76× | -36.2% |
| FY2024 | -11.7% | 0.91× | 2.16× | -23.0% |
| FY2023 | -53.1% | 0.51× | 1.84× | -49.8% |
| FY2022 | -128.9% | 0.31× | 1.88× | -74.3% |
| FY2021 | -1566.5% | 0.06× | 1.68× | -151.6% |
| FY2020 | -1245.7% | 0.03× | 1.48× | -60.3% |
| FY2019 | -1797.8% | 0.02× | 1.46× | -62.8% |
| FY2018 | -3502.0% | 0.02× | 1.34× | -71.6% |
| FY2017 | -153.2% | 0.23× | 1.12× | -38.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$61.60M
- Cash generatingOperating cash flow above zero-$42.48M
- Return on assets improvedROA up on the prior year-13.2% → -14.1%
- Earnings backed by cashOperating cash flow above net income-$42.48M vs -$61.60M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose4.58 → 4.31
- No dilutionShare count did not rise235M → 241M
- Gross margin improvedGross margin up on the prior year84.85% → 90.29%
- More efficientAsset turnover rose1.12 → 0.93