Ironwood Pharmaceuticals, Inc. (IRWD) Key Metrics
IRWD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $578.3M
- Enterprise value
- $1.02B
- P/E (TTM)
- 4.5 10-yr median 21.1
- Forward P/E
- 12.3
- PEG ratio
- —
- Price / sales
- 1.5 10-yr median 4.7
- Price / book
- 2.6 10-yr median 28.0
- EV / EBITDA
- 4.2 10-yr median 12.2
- Dividend yield
- —
- Beta
- 0.22
IRWD key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsIRWD valuation Price multiples at each fiscal year-end price.
IRWD returns How much profit the business earns on the capital it uses.
IRWD per-share figures Results divided by the shares outstanding at year-end.
IRWD financial health Debt, liquidity and how easily interest is covered.
IRWD efficiency & capital use Working capital cycle and where the cash goes.
IRWD valuation history
IRWD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
IRWD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
IRWD cash returned to shareholders
IRWD price vs earnings per share
IRWD key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $599.1M | $709.2M | $1.78B | $2.31B | $1.92B | $1.83B | $2.08B | $1.32B | $1.87B | $1.87B |
| Enterprise value | $981.4M | $1.22B | $2.40B | $2.07B | $1.77B | $1.92B | $2.33B | $1.56B | $2.05B | $1.93B |
| P/E ratio | 24.9 | 805.9 | — | 13.2 | 3.6 | 17.2 | 96.6 | — | — | — |
| Price / sales | 2.0 | 2.0 | 4.0 | 5.6 | 4.6 | 4.7 | 4.8 | 3.8 | 6.3 | 6.8 |
| Price / book | — | — | — | 3.5 | 3.2 | 29.2 | — | — | 189.8 | 28.0 |
| Price / free cash flow | 4.7 | 6.9 | 9.7 | 8.4 | 7.3 | 11.0 | 587.3 | — | — | — |
| Price / operating cash flow | 4.7 | 6.8 | 9.7 | 8.4 | 7.3 | 10.8 | 193.6 | — | — | — |
| EV / sales | 3.3 | 3.5 | 5.4 | 5.0 | 4.3 | 4.9 | 5.4 | 4.5 | 6.9 | 7.1 |
| EV / EBITDA | 9.4 | 12.5 | 12.2 | 7.9 | 7.6 | 13.5 | 18.1 | — | — | — |
| EV / free cash flow | 7.7 | 11.8 | 13.1 | 7.6 | 6.8 | 11.5 | 659.2 | — | — | — |
| Earnings yield | 4.0% | 0.1% | −56.4% | 7.6% | 27.6% | 5.8% | 1.0% | −21.3% | −6.3% | −4.4% |
| Free cash flow yield | 21.2% | 14.6% | 10.3% | 11.9% | 13.6% | 9.1% | 0.2% | −6.0% | −5.6% | −6.9% |
| Dividend yield | — | — | — | 4.8% | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | 0.0% | 0.0% | 10.3% | 1.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Share price at fiscal year-end | $3.37 | $4.43 | $11.44 | $12.39 | $11.66 | $11.39 | $13.31 | $8.67 | $12.55 | $12.80 |
| Per share | ||||||||||
| Revenue per share | $1.67 | $2.20 | $2.85 | $2.20 | $2.52 | $2.42 | $2.75 | $2.27 | $2.00 | $1.88 |
| Earnings per share | $0.14 | $0.01 | −$6.45 | $0.94 | $3.21 | $0.66 | $0.14 | −$1.85 | −$0.78 | −$0.56 |
| Operating cash flow per share | $0.71 | $0.65 | $1.18 | $1.47 | $1.59 | $1.05 | $0.07 | −$0.46 | −$0.67 | −$0.17 |
| Free cash flow per share | $0.71 | $0.65 | $1.18 | $1.47 | $1.59 | $1.04 | $0.02 | −$0.52 | −$0.70 | −$0.89 |
| Cash per share | $1.21 | $0.55 | $0.59 | $3.52 | $3.77 | $2.27 | $1.13 | $1.13 | $1.49 | $2.09 |
| Book value per share | −$1.47 | −$1.88 | −$2.23 | $3.50 | $3.69 | $0.39 | −$0.60 | −$1.29 | $0.07 | $0.46 |
| Tangible book value per share | −$1.48 | −$1.90 | −$2.25 | $3.50 | $3.69 | $0.39 | −$0.60 | −$1.29 | −$1.01 | −$0.69 |
| Dividends per share | — | — | — | $0.60 | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.05 | $0.06 | $0.03 | $0.71 |
| Debt per share | $3.36 | $3.74 | $4.60 | $2.23 | $2.89 | $2.82 | $2.76 | $2.71 | $2.69 | $2.56 |
| Shares outstanding | 177.8M | 160.1M | 155.4M | 186.3M | 164.4M | 160.7M | 156.0M | 152.6M | 149.0M | 145.9M |
| Change in shares outstanding | +11.0% | +3.0% | −16.6% | +13.3% | +2.3% | +3.0% | +2.2% | +2.4% | +2.1% | +2.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | — | — | 27.8% | 158.1% | — | — | — | −305.5% | −101.0% |
| Return on invested capital (ROIC) | 36.0% | 19.1% | −216.7% | 39.7% | 75.7% | 89.1% | 58.5% | −162.0% | −37.9% | −47.8% |
| Return on assets (ROA) | 6.4% | 0.2% | −127.5% | 15.7% | 62.7% | 22.1% | 5.9% | −60.2% | −17.8% | −12.3% |
| Return on tangible assets | 6.1% | 0.3% | −214.4% | 15.9% | 46.9% | 19.0% | 5.3% | −85.2% | −26.3% | −15.0% |
| Free cash flow margin | 42.9% | 29.4% | 41.4% | 66.6% | 63.2% | 42.9% | 0.8% | −22.9% | −34.8% | −47.3% |
| Income quality (OCF / net income) | 5.29 | 117.67 | — | 1.56 | 0.50 | 1.59 | 0.50 | — | — | — |
| Financial health | ||||||||||
| Total debt | $597.8M | $599.5M | $715.5M | $415.9M | $475.8M | $453.7M | $431.2M | $413.9M | $400.2M | $372.9M |
| Cash & short-term investments | $215.5M | $88.6M | $92.2M | $656.2M | $620.1M | $364.3M | $177.0M | $173.2M | $221.4M | $305.2M |
| Net debt | $382.3M | $510.9M | $623.4M | −$240.3M | −$144.3M | $89.4M | $254.2M | $240.8M | $178.8M | $67.7M |
| Debt / equity | — | — | — | 0.64 | 0.79 | 7.24 | — | — | 40.63 | 5.59 |
| Debt / assets | 1.51 | 1.71 | 1.52 | 0.38 | 0.42 | 0.81 | 1.07 | 1.25 | 0.66 | 0.53 |
| Net debt / EBITDA | 3.65 | 5.23 | 3.16 | −0.92 | −0.62 | 0.63 | 1.98 | — | — | — |
| Current ratio | 1.13 | 4.69 | 0.84 | 30.58 | 4.61 | 15.41 | 7.50 | 2.23 | 4.72 | 4.17 |
| Quick ratio | 1.13 | 4.69 | 0.84 | 30.53 | 4.60 | 15.41 | 7.48 | 2.23 | 4.71 | 4.16 |
| Interest coverage | 3.6 | 2.8 | -43.7 | 32.9 | 7.5 | 4.8 | 3.3 | -6.3 | -2.1 | -1.3 |
| Working capital | $32.0M | $143.5M | −$42.8M | $755.1M | $583.5M | $463.7M | $265.9M | $146.9M | $245.6M | $289.1M |
| Invested capital | $120.5M | $209.6M | $277.1M | $412.1M | $461.6M | $152.0M | $160.9M | $44.4M | $188.6M | $134.4M |
| Tangible asset value | −$263.9M | −$304.2M | −$350.0M | $652.4M | $605.9M | $61.9M | −$94.0M | −$197.2M | −$150.8M | −$100.2M |
| Net current asset value | −$384.6M | −$469.9M | −$584.1M | $332.5M | $224.2M | −$759,000 | −$189.1M | −$262.0M | −$284.2M | −$262.9M |
| Graham number | — | — | — | $8.60 | $16.32 | $2.41 | — | — | — | — |
| Graham net-net per share | −$2.30 | −$3.14 | −$4.04 | $1.58 | $1.13 | −$0.25 | −$1.48 | −$1.93 | −$2.10 | −$1.98 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $111.2M | — | — | — | — | $0 | $0 |
| Share buybacks (net) | — | $0 | $0 | $126.4M | $24.1M | $0 | $0 | $0 | $0 | $0 |
| Dividend payout ratio | — | — | — | 63.5% | — | — | — | — | — | — |
| Dividends + buybacks / free cash flow | — | 0.0% | 0.0% | 86.8% | 9.2% | 0.0% | 0.0% | — | — | — |
| Capex / revenue | 0.0% | 0.0% | 0.1% | 0.0% | 0.1% | 0.5% | 1.7% | 2.5% | 1.4% | 38.0% |
| Capex / operating cash flow | 0.0% | 0.1% | 0.1% | 0.0% | 0.1% | 1.1% | 67.0% | — | — | — |
| Capex / depreciation | 0.02 | 0.07 | 0.17 | 0.10 | 0.18 | 0.52 | 1.29 | 0.72 | 0.29 | 9.25 |
| Stock-based compensation / revenue | 5.8% | 8.5% | 7.2% | 6.6% | 5.4% | 8.0% | 7.3% | 12.7% | 11.3% | 10.7% |
| R&D / revenue | 32.1% | 31.7% | 26.2% | 10.8% | 17.0% | 22.6% | 28.5% | 48.0% | 49.7% | 50.9% |
| SG&A / revenue | 27.8% | 41.1% | 33.4% | 28.3% | 26.9% | 35.9% | 40.3% | 69.6% | 78.2% | 63.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 79.3 | 109.6 | 100.8 | 102.0 | 104.3 | 112.3 | 84.4 | 85.9 | 89.9 | 79.5 |
| Days of inventory on hand | — | — | 37.1 | 321.8 | 3.2 | 37.7 | 0.9 | — | 17.1 | 105.6 |
| Days payables outstanding | 487.5 | 240.6 | 246.8 | 182.5 | 4.1 | 357.8 | 27.5 | 171.9 | 316.6 | 2,568.7 |
| Cash conversion cycle (days) | -408.3 | -131.0 | -108.8 | 241.3 | 103.4 | -207.8 | 57.8 | -81.9 | -209.5 | -2,383.5 |
| Receivables turnover | 4.60 | 3.33 | 3.62 | 3.58 | 3.50 | 3.25 | 4.32 | 4.25 | 4.06 | 4.59 |
| Payables turnover | 0.75 | 1.52 | 1.48 | 2.00 | 88.23 | 1.02 | 13.29 | 2.12 | 1.15 | 0.14 |
| Inventory turnover | — | — | 9.84 | 1.13 | 112.65 | 9.68 | 417.87 | — | 21.37 | 3.46 |
| Asset turnover | 0.79 | 0.86 | 0.56 | 0.37 | 0.49 | 0.81 | 1.17 | 0.74 | 0.45 | 0.41 |
| Average receivables | $64.3M | $105.5M | $122.3M | $114.8M | $118.2M | $119.8M | $99.1M | $81.6M | $73.5M | $59.7M |
| Average payables | $2.5M | $5.0M | $4.2M | $709,000 | $798,000 | $3.1M | $10.2M | $15.4M | $16.8M | $13.1M |
| Average inventory | — | — | $625,000 | $1.2M | $625,000 | $324,000 | $324,000 | $367,500 | $908,000 | $540,500 |
| Intangibles / total assets | 0.5% | 0.8% | 0.8% | 0.0% | 0.0% | 0.1% | 0.2% | 0.2% | 26.5% | 23.5% |
Computed from IRWD's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
IRWD valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Ironwood Pharmaceuticals traded at 24.9 times earnings, against a 10-year median of 21.1. Based on the latest twelve months, the trailing P/E is 4.5 and the forward P/E is 12.3. Ironwood Pharmaceuticals earned a return on invested capital of 36.0% in fiscal 2025. It ended the year with $597.8 million of debt and $215.5 million in cash and short-term investments, net debt of $382.3 million. The share count rose 21.8% from 145.9M to 177.8M over 9 years.
See the IRWD income statement, the IRWD chart for price history, or the IRWD stock overview for the latest quote and news.
IRWD key metrics FAQ
What is Ironwood Pharmaceuticals's P/E ratio?
Ironwood Pharmaceuticals's trailing P/E ratio is 4.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 12.3. At the end of fiscal 2025 it was 24.9, compared with a 10-year median of 21.1.
What is Ironwood Pharmaceuticals's EV/EBITDA?
Ironwood Pharmaceuticals's enterprise value was 9.4 times EBITDA at the end of fiscal 2025 (enterprise value $981.4 million, EBITDA $104.7 million); the current EV/EBITDA is 4.2.
What is Ironwood Pharmaceuticals's ROIC?
Ironwood Pharmaceuticals's return on invested capital was 36.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Ironwood Pharmaceuticals have?
Ironwood Pharmaceuticals had total debt of $597.8 million at the end of fiscal 2025 and $382.3 million of net debt (3.65 times EBITDA).
What is Ironwood Pharmaceuticals's free cash flow yield?
Ironwood Pharmaceuticals generated $127.0 million of free cash flow in fiscal 2025, a free cash flow yield of 21.2% on its market value at year-end ($599.1 million).
What is Ironwood Pharmaceuticals's current ratio?
Ironwood Pharmaceuticals's current ratio was 1.13 at the end of fiscal 2025: current assets were 1.13 times current liabilities.