Innoviva vs Ironwood Pharmaceuticals
Innoviva is the larger business, with $411m of revenue in fiscal 2025 against $296m for Ironwood Pharmaceuticals (1.4 times as much). Innoviva grew faster (14.7% against -15.7%). Innoviva kept more of each dollar of sales as profit: a net margin of 65.9% against 8.1%.
| Latest fiscal year | InnovivaINVA, 2025 | Ironwood PharmaceuticalsIRWD, 2025 |
|---|---|---|
| Revenue | $411m | $296m |
| Revenue growth | 14.7% | -15.7% |
| Net income | $271m | $24.0m |
| Operating margin | 39.8% | 33.3% |
| Net margin | 65.9% | 8.1% |
| Return on equity | 29.1% | — |
| Free cash flow | $196m | $127m |
| Cash | $551m | $215m |
| Total debt | $261m | $585m |
| Debt to equity | 22.3% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $4.5m | — |
| Employees | 159 | 100 |
| Market value | $1.53bn | $582m |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | 80 (Strong) | 31 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 18 sales |