Ardelyx (ARDX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Ardelyx

NasdaqGM•Healthcare•Biotechnology

$3.65-0.15(-0.04%)Market open

Market Cap

$848.39M

P/S

1.9x

P/B

5.7x

Ardelyx, Inc. discovers, develops, and commercializes medicines to treat unmet medical needs in the United States and internationally. The company offers IBSRELA, a minimally absorbed small molecule therapy for the treatment of patients with irritable bowel syndrome with constipation; and XPHOZAH, a phosphate absorption inhibitor to reduce serum phosphorus in adults with chronic kidney disease on dialysis. Ardelyx, Inc. was formerly known as Nteryx, Inc. and changed its name to Ardelyx, Inc. in June 2008. The company was incorporated in 2007 and is headquartered in Waltham, Massachusetts.

How this company scores

AverageMetricSide Score: 50/100

Strongest: Growth (18/25); weakest: Cash & Earnings Quality (10/25).

Profitability12/25

Growth18/25

Balance Sheet & Red Flags10/25

Cash & Earnings Quality10/25

Strengths

Growing revenueLong cash runwayConsistent growthImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 1.9x5y range 1.9x – 35.5x

Currently below its 20-quarter median.

P/B · 5.7x5y range 1.4x – 11.8x

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $848.39M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $450.89M
Q. Revenue: $120.88M
TTM EBITDA: $-32.11M
TTM Op. Income: $-35.45M
Q. Op. Income: $-12.43M
TTM Net Income: $-55.70M
Q. Net Income: $-16.72M
EPS: $-0.07
Shares Out.: $248.07M

$450.89M in TTM revenue grew 16.8% YoY, reaching $120.88M last quarter. TTM EBITDA of $-32.11M and TTM operating income of $-35.45M show growth is flowing through to the bottom line. However, net income is negative at $55.70M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -9.8%
Op. Margin: -10.3%
Net Margin: -13.8%

Op. margin of -10.3% is up 4.5% YoY — cost efficiency is improving. Net margin at -13.8% Over the past year, operating margin is up 30% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.9x
P/B Ratio: 5.7x

P/S of 1.9x and P/B of 5.7x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $575.89M
Cash: $97.19M
Long-Term Debt: $251.82M
Book Value: $149.01M
D/E Ratio: 1.7
Debt/EBITDA: N/A

With $575.89M in assets and $251.82M in long-term debt, D/E is 1.7and book value is $149.01M — moderate leverage. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-6.40M
TTM Free Cash Flow: $-17.92M
FCF Margin: -4.0%
FCF / Net Income: 0.3

TTM FCF of $-17.92M on $-6.40M in operating cash flow. The FCF / Net Income ratio of 0.3x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.