Ironwood (IRWD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IRWD SEC filings page.
Ironwood (IRWD) reported $296.2M in revenue for fiscal year 2025, down 15.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Ironwood’s shrinking revenue is being offset by leaner costs, preserving cash generation while balance-sheet flexibility narrows.
Revenue contracted33.1% from FY2023 to FY2025, yet operating margin recovered to33.3% , so the improvement did not come from top-line expansion. R&D fell91.4% over the same span, identifying a cost-base reset rather than volume growth as the visible mechanic.
FY2025 liabilities of
FY2025 cash generation of operating cash flow at
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ironwood's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ironwood has an operating margin of 33.3%, meaning the company retains $33 of operating profit per $100 of revenue. This below-average margin results in a low score of 10/100, suggesting thin profitability after operating expenses. This is up from 26.5% the prior year.
Ironwood's revenue declined 15.7% year-over-year, from $351.4M to $296.2M. This contraction results in a growth score of 5/100.
Ironwood's current ratio of 1.13 is below the typical benchmark, resulting in a score of 25/100. However, the company holds substantial cash reserves (89% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Ironwood converts 42.9% of revenue into free cash flow ($127.0M). This strong cash generation earns a score of 97/100.
Ironwood scores -3.60, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($703.9M) relative to total liabilities ($658.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ironwood passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Ironwood generates $5.29 in operating cash flow ($127.0M OCF vs $24.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Ironwood earns $3.01 in operating income for every $1 of interest expense ($98.5M vs $32.7M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Ironwood generated $113.0M in revenue in Q2 2026. This represents an increase of 32.6% from the same quarter a year earlier. Against the prior quarter it is up 6.1%.
Ironwood's EBITDA was $79.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 74.2% from the same quarter a year earlier. Against the prior quarter it is up 9.2%.
Ironwood reported $51.3M in net income in Q2 2026. This represents an increase of 117.3% from the same quarter a year earlier. Against the prior quarter it is up 25.8%.
Ironwood earned $0.31 per diluted share (EPS) in Q2 2026. This represents an increase of 121.4% from the same quarter a year earlier. Against the prior quarter it is up 29.2%.
Cash & Balance Sheet
Ironwood held $79.1M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Ironwood's operating margin was 70.2% in Q2 2026, reflecting core business profitability. This is up 17.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.
Ironwood's net profit margin was 45.4% in Q2 2026, showing the share of revenue converted to profit. This is up 17.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.1 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Ironwood invested $22.4M in research and development in Q2 2026. This represents a decrease of 4.1% from the same quarter a year earlier. Against the prior quarter it is up 2.2%.
Not reported for Q2 2026.
Not reported for Q2 2026.
IRWD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $113.0M+32.6% | $106.5M+158.9% | $47.7M-47.3% | $122.1M+33.3% | $85.2M-9.7% | $41.1M-45.1% | $90.5M-23.0% | $91.6M-19.5% |
| R&D Expenses | $22.4M-4.1% | $21.9M-20.0% | N/A | $22.5M-24.7% | $23.4M-23.1% | $27.4M+6.3% | N/A | $29.8M-9.6% |
| SG&A Expenses | $11.3M-32.6% | $12.0M-50.4% | N/A | $21.9M-39.3% | $16.8M-54.6% | $24.3M-35.5% | N/A | $36.1M+0.2% |
| Operating Income | $79.3M+75.0% | $72.6M+349.3% | N/A | $75.5M+194.4% | $45.3M+81.5% | -$29.1M-364.1% | N/A | $25.6M-35.9% |
| EBITDA | $79.8M+74.2% | $73.0M+355.0% | N/A | $76.0M+190.6% | $45.8M+79.7% | -$28.6M-348.2% | N/A | $26.1M-35.5% |
| Interest Expense | $7.2M-13.8% | $9.1M+13.3% | N/A | $8.4M-10.5% | $8.4M+11.9% | $8.1M+11.6% | N/A | $9.4M-4.3% |
| Income Tax | $22.4M+57.8% | $24.4M+2090.2% | N/A | $27.9M+103.6% | $14.2M-27.9% | $1.1M-87.8% | N/A | $13.7M-23.7% |
| Net Income | $51.3M+117.3% | $40.8M+209.1% | -$2.3M-200.9% | $40.1M+999.3% | $23.6M+2844.1% | -$37.4M-798.3% | $2.3M+307.5% | $3.6M-76.2% |
| EPS (Basic) | $0.31+106.7% | $0.25+208.7% | -$0.01-200.0% | $0.25+1150.0% | $0.15+1600.0% | -$0.23-666.7% | $0.01+200.0% | $0.02-80.0% |
| EPS (Diluted) | $0.31+121.4% | $0.24+204.3% | -$0.01-200.0% | $0.23+1050.0% | $0.14 | -$0.23-666.7% | $0.01 | $0.02-77.8% |
| Diluted Shares (Avg) | 167M-5.5% | 167M+3.6% | N/A | 178M+10.9% | 177M | 161M+2.1% | N/A | 160M-14.3% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
IRWD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $285.1M-16.9% | $434.6M+32.8% | $396.9M+13.1% | $396.1M+1.7% | $342.9M-13.3% | $327.2M-25.4% | $350.9M-25.5% | $389.5M-25.7% |
| Current Assets | $199.2M+3.9% | $332.3M+106.9% | $274.2M+50.3% | $273.8M+53.3% | $191.8M+7.6% | $160.6M-22.9% | $182.4M-21.8% | $178.6M-29.6% |
| Cash & Equivalents | $79.1M-14.8% | $220.5M+103.2% | $215.5M+143.3% | $140.4M+59.2% | $92.9M-12.0% | $108.5M-10.7% | $88.6M-3.9% | $88.2M-19.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $112.7M+30.8% | $105.8M+166.1% | $46.7M-42.9% | $120.4M+58.0% | $86.2M+48.3% | $39.8M-44.8% | $81.9M-36.6% | $76.2M-38.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $447.0M-31.4% | $651.7M-1.4% | $658.7M+1.0% | $660.2M-5.8% | $651.1M-9.2% | $661.3M-14.0% | $652.2M-20.2% | $700.9M-17.3% |
| Current Liabilities | $32.9M-85.9% | $236.3M+391.3% | $242.2M+523.5% | $242.5M+391.1% | $232.5M+410.9% | $48.1M-80.9% | $38.8M-85.9% | $49.4M-82.4% |
| Non-Current Liabilities | $414.1M-1.1% | $415.4M-32.3% | $416.5M-32.1% | $417.7M-35.9% | $418.6M-37.7% | $613.2M+18.6% | $613.4M+13.3% | $651.5M+15.0% |
| Long-Term Debt | N/A | N/A | N/A | $199.5M+0.3% | $199.3M+0.3% | $199.2M-50.0% | $199.0M-50.0% | $198.8M-50.0% |
| Total Equity | -$161.8M+47.5% | -$217.1M+35.0% | -$261.8M+13.1% | -$264.2M+15.2% | -$308.2M+4.2% | -$334.1M-1.1% | -$301.3M+13.0% | -$311.3M+3.7% |
| Retained Earnings | -$1.6B+7.6% | -$1.6B+5.9% | -$1.7B+1.4% | -$1.7B+1.7% | -$1.7B-0.5% | -$1.7B-1.9% | -$1.7B+0.1% | -$1.7B-0.1% |
Not reported in any period shown, so not listed: Inventory, Goodwill.
IRWD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $58.3M+486.8% | $5.1M-74.3% | $74.6M+390.2% | $47.6M+381.4% | -$15.1M-145.0% | $20.0M-55.6% | $15.2M-57.5% | $9.9M-69.5% |
| Depreciation & Amortization | $457K-2.1% | $443K-7.5% | N/A | $475K-6.3% | $467K-7.7% | $479K-6.6% | N/A | $507K0.0% |
| Stock-Based Compensation | $3.2M-28.5% | $3.7M-31.0% | N/A | $3.6M-56.6% | $4.5M-47.2% | $5.3M-36.9% | N/A | $8.3M+5.4% |
| Capital Expenditures | N/A | N/A | -$1K | $2K-87.5% | $2K-96.6% | $31K-54.4% | $0-100.0% | $16K-67.3% |
| Free Cash Flow | N/A | N/A | $74.6M+390.2% | $47.6M+382.1% | -$15.1M-145.1% | $19.9M-55.6% | $15.2M-57.3% | $9.9M-69.5% |
| Investing Cash Flow | N/A | N/A | $1K | -$2K+87.5% | -$2K+96.6% | -$31K+54.4% | $0+100.0% | -$16K+99.9% |
| Financing Cash Flow | N/A | N/A | $122K+100.8% | $0+100.0% | $88K+100.2% | $6K+100.0% | -$14.9M+70.8% | -$27.2M+63.8% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
IRWD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 70.2%+17.0pp | 68.1%+138.9pp | N/A | 61.8%+33.8pp | 53.2%+26.7pp | -70.8%-85.5pp | N/A | 28.0%-7.2pp |
| Net Margin | 45.4%+17.7pp | 38.3%+129.1pp | -4.8%-7.3pp | 32.8%+28.9pp | 27.7%+28.6pp | -90.9%-85.3pp | 2.5%+3.4pp | 4.0%-9.5pp |
| Return on Assets | 18.0%+11.1pp | 9.4%+20.8pp | -0.6%-1.2pp | 10.1%+9.2pp | 6.9%+7.1pp | -11.4%-10.5pp | 0.6%+0.9pp | 0.9%-2.0pp |
| Current Ratio | 6.06+5.2x | 1.41-1.9x | 1.13-3.6x | 1.13-2.5x | 0.82-3.1x | 3.34+2.5x | 4.69+3.8x | 3.62+2.7x |
| Asset Turnover | 0.40+0.1x | 0.25+0.1x | 0.12-0.1x | 0.31+0.1x | 0.250.0x | 0.130.0x | 0.260.0x | 0.240.0x |
| FCF Margin | N/A | N/A | 156.3% | 39.0%+28.2pp | -17.7%-53.1pp | 48.4%-11.6pp | 16.8%-13.5pp | 10.8%-17.7pp |
Not reported in any period shown, so not listed: Gross Margin, Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Note: Shareholder equity is negative (-$261.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Ironwood IRWD | FY2025 | $296.2M | $24.0M | 8.1% | $703.9M | 34/100 |
| China Sxt Pharmaceuticals Inc SXTC | FY2026 | $1.1M | -$6.2M | N/A | $1.2M | 33/100 |
| Journey Medical Corp DERM | FY2025 | $61.9M | -$11.4M | -18.5% | $221.8M | 20/100 |
| BioAge Labs Inc. BIOA | FY2025 | $9.0M | -$80.6M | N/A | $440.2M | 46/100 |
| Alpha Teknova TKNO | FY2025 | $40.5M | -$17.3M | -42.6% | $371.5M | 47/100 |
Where Ironwood Ranks
Frequently Asked Questions
What is Ironwood's annual revenue?
Ironwood (IRWD) reported $296.2M in total revenue for fiscal year 2025. This represents a -15.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ironwood's revenue growing?
Ironwood (IRWD) revenue declined by 15.7% year-over-year, from $351.4M to $296.2M in fiscal year 2025.
Is Ironwood profitable?
Yes, Ironwood (IRWD) reported a net income of $24.0M in fiscal year 2025, with a net profit margin of 8.1%.
What is Ironwood's EBITDA?
Ironwood (IRWD) had EBITDA of $99.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ironwood's operating margin?
Ironwood (IRWD) had an operating margin of 33.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ironwood's net profit margin?
Ironwood (IRWD) had a net profit margin of 8.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ironwood's free cash flow?
Ironwood (IRWD) generated $127.0M in free cash flow during fiscal year 2025. This represents a 22.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ironwood's operating cash flow?
Ironwood (IRWD) generated $127.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ironwood's total assets?
Ironwood (IRWD) had $396.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ironwood's capital expenditures?
Ironwood (IRWD) invested $34K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ironwood spend on research and development?
Ironwood (IRWD) invested $95.1M in research and development during fiscal year 2025.
What is Ironwood's current ratio?
Ironwood (IRWD) had a current ratio of 1.13 as of fiscal year 2025, which is considered adequate.
What is Ironwood's return on assets (ROA)?
Ironwood (IRWD) had a return on assets of 6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ironwood's P/E ratio?
Ironwood (IRWD) trades at 5.4x earnings, its market capitalization divided by net income of $129.9M net income, trailing 12 months to June 30, 2026. The market capitalization is $703.9M as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ironwood's price-to-sales ratio?
Ironwood (IRWD) trades at 1.8x sales, its market capitalization divided by revenue of $389.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $703.9M as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Ironwood's debt-to-equity ratio negative or not reported?
Ironwood (IRWD) has negative shareholder equity of -$261.8M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Ironwood's Altman Z-Score?
Ironwood (IRWD) has an Altman Z-Score of -3.60, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ironwood's Piotroski F-Score?
Ironwood (IRWD) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ironwood's earnings high quality?
Ironwood (IRWD) has an earnings quality ratio of 5.29x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ironwood cover its interest payments?
Ironwood (IRWD) has an interest coverage ratio of 3.01x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Ironwood?
Ironwood (IRWD) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.