One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Ardelyx, Inc.
ARDX · NGM · Healthcare · Biotechnology
Current price
$3.23
52-week range
$3.18 - $8.40
Market cap
$833.95M
Balance sheet
Distressed
-1.44x Concerning
Net debt $676.99K. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Revenue grew 10.7% last year.
- Risk Return on equity was -38.6% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 3.0% (peer median: 5.1%).
What this company does
Ardelyx, Inc.
Ardelyx, Inc. is a company that creates and sells medicines to help people with specific health problems, like a type of constipation and a condition related to kidney disease. Their main income comes from selling these two drugs, IBSRELA and XPHOZAH. The success of these medicines is important because it directly impacts how much money the company makes and if it can continue developing new treatments.
How the company got here
Ardelyx, Inc. started in 2007, originally named Nteryx, Inc., and changed its name in 2008. The company's journey has been focused on developing new medicines for serious health conditions. A key turning point was the development and eventual FDA approval of its two main products, IBSRELA and XPHOZAH, which represent the culmination of years of research and clinical trials. This transition from a research-focused entity to a commercial-stage biopharmaceutical company marks its current phase.
What it actually does
Ardelyx is a biopharmaceutical company that creates and sells medicines. Think of them like a specialized pharmacy that doesn't just dispense drugs, but invents them to tackle specific diseases. Their focus is on developing treatments for conditions that don't have many good options currently available. They invest heavily in scientific research to discover new molecules that can help patients.
IBSRELA
IBSRELA is a medication designed to treat irritable bowel syndrome with constipation (IBS-C). It works by being a 'minimally absorbed small molecule therapy,' meaning it's designed to act primarily in the gut rather than being widely absorbed into the bloodstream. This specific approach aims to alleviate the discomfort and irregularity associated with IBS-C. Patients with this condition are the ones who would typically be prescribed and pay for this treatment, making it a key revenue generator for Ardelyx.
XPHOZAH
XPHOZAH is a medicine for adults with chronic kidney disease (CKD) who are on dialysis. It functions as a 'phosphate absorption inhibitor,' which means it helps reduce the amount of phosphate that gets absorbed into the body from food. High phosphate levels are a common and serious problem for people on dialysis, so XPHOZAH aims to manage this by preventing excess phosphate from entering the system. This specialized treatment targets a significant unmet need within the CKD patient population.
What management is betting on now
Ardelyx's current strategy centers on successfully commercializing its two approved products, IBSRELA and XPHOZAH. The company is focused on making these treatments available to the patients who need them and building a strong market presence. This involves educating healthcare providers about the benefits of these therapies and ensuring patients have access to them. The success of these two drugs is crucial for Ardelyx's future growth and its ability to fund further research and development.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$364.00K
FY2024 Q4
$9.22M
FY2025 Q1
$-38.78M
FY2025 Q2
$-25.99M
FY2025 Q3
$209.00K
FY2025 Q4
$20.59M
FY2026 Q1
$-32.31M
FY2026 Q2
$-6.41M
Revenue
$120.88M
Net income
$-16.72M
Diluted EPS
-0.07
Operating cash flow
$-6.40M
Free cash flow
$-6.41M
Fetching…
Sources
Revenue
$94.47M
Net income
$-37.60M
Diluted EPS
-0.15
Operating cash flow
$-32.24M
Free cash flow
$-32.31M
Fetching…
Sources
Revenue
$125.22M
Net income
$-407.00K
Diluted EPS
-0.01
Operating cash flow
$20.95M
Free cash flow
$20.59M
Fetching…
Sources
Revenue
$110.33M
Net income
$-969.00K
Diluted EPS
0.00
Operating cash flow
$365.00K
Free cash flow
$209.00K
Fetching…
Sources
Revenue
$97.66M
Net income
$-19.08M
Diluted EPS
-0.08
Operating cash flow
$-25.34M
Free cash flow
$-25.99M
Fetching…
Sources
Revenue
$74.11M
Net income
$-41.14M
Diluted EPS
-0.17
Operating cash flow
$-38.46M
Free cash flow
$-38.78M
Fetching…
Sources
Revenue
$116.13M
Net income
$4.64M
Diluted EPS
0.01
Operating cash flow
$9.81M
Free cash flow
$9.22M
Fetching…
Sources
Revenue
$98.24M
Net income
$-809.00K
Diluted EPS
0.00
Operating cash flow
$501.00K
Free cash flow
$364.00K
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $3.23
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $676,992. Interest coverage -1.4x.
Net debt
$676.99K
Interest coverage
-1.44x
Ardelyx, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
ARDX
BASELINE
Ardelyx, Inc.
Total debt $282.51M Interest coverage -1.44x This is the baseline the peer rows are being compared against.
Total debt $88.81M Interest coverage -8.51x Neither company has much profit cushion over interest right now.
Total debt $114.14M Interest coverage -1.01x Neither company has much profit cushion over interest right now.
Total debt $182.90M Interest coverage -2.13x Neither company has much profit cushion over interest right now.
Total debt $147.46M Interest coverage 53.97x This peer still has a real interest-payment cushion, while ARDX does not.
What you should know
The case for and against ARDX
1 Reward
2 Risks
Rewards
-
Revenue grew 10.7% last year.
Risks
-
Return on equity was -38.6% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 3.0% (peer median: 5.1%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
11.12x
P/B
5.40x
P/S
1.85x
EV/EBITDA
-25.09x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
75.0%
Operating margin
-10.3%
Net margin
-12.4%
ROE
-38.6%
ROA
-4.2%
Health
Liquidity and balance-sheet strength
Debt / equity
1.90x
Current ratio
3.34x
Quick ratio
2.89x
Total debt
$282.51M
Total cash
$281.83M
Growth
How the business has been compounding
Revenue TTM
$450.89M
Revenue 5Y CAGR
152.0%
EPS TTM
-0.23
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-17.32M
Free CF TTM
$-43.98M
FCF margin
-9.8%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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