Ardelyx vs Cormedix
Ardelyx is the larger business, with $407m of revenue in fiscal 2025 against $312m for Cormedix (1.3 times as much). Cormedix grew faster (617.0% against 22.1%). Cormedix kept more of each dollar of sales as profit: a net margin of 52.3% against -15.1%.
| Latest fiscal year | ArdelyxARDX, 2025 | CormedixCRMD, 2025 |
|---|---|---|
| Revenue | $407m | $312m |
| Revenue growth | 22.1% | 617.0% |
| Net income | −$61.6m | $163m |
| Operating margin | -10.1% | — |
| Net margin | -15.1% | 52.3% |
| Return on equity | -36.2% | 66.6% |
| Free cash flow | −$44.0m | $173m |
| Cash | $68.0m | $145m |
| Total debt | $203m | $144,626 |
| Debt to equity | 121.5% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 489 | 191 |
| Market value | $755m | $428m |
| Price vs our value range | — | Below our value range |
| Moat score | 24 (Weak) | 7 (Weak) |
| Insider trades, 12 months | 1 buys, 77 sales | 0 buys, 8 sales |