Basis: Current FMP quote-based enterprise value / four-quarter operating income plus matched D&A. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the EV/EBITDA ratio high or low?
The EV/EBITDA ratio of 2.24x is 99% below its estimated 4-year average of 173.88x, near the low end of its estimated 4-year range (2.19x–666.18x).
As of 2026-10-06T15:33:27.239Z. 23.99% below its estimated 12-month average of 2.95x.
Calculation as of: 2026-10-06T15:33:27.239Z.
Quote observation: 2026-10-06T15:31:28.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: c19c85bab9715eb02e93ed72e58c77cc0b51866a8f8130ffbf7fdbc9ca61d83e
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation. Historical series through 2026-10-05.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
EV/EBITDA RATIO
2.24x
EV/EBITDA RATIO AVG TTM
2.95x
EV/EBITDA RATIO AVG 3Y
2.95x
EV/EBITDA RATIO AVG 5Y
173.88x
EV/EBITDA RATIO AVG 10Y
99.99x
EV/EBITDA RATIO AVG 15Y
105.68x
EV/EBITDA RATIO AVG 20Y
129.07x
CURRENT VS TTM AVG
-23.99%
CURRENT VS 3Y AVG
-23.99%
CURRENT VS 5Y AVG
-98.71%
CURRENT VS 10Y AVG
-97.76%
CURRENT VS 15Y AVG
-97.88%
CURRENT VS 20Y AVG
-98.26%
SECTOR MEDIAN · HEALTHCARE
15.64x
median of 192 covered companies
CURRENT VS SECTOR MEDIAN
-85.68%
vs the sector median at left
Ionis Pharmaceuticals, Inc.
Market Cap
$7.41B
EV/EBITDA Ratio
2.24x
TTM Avg
2.95x
3Y Avg
2.95x
5Y Avg
173.88x
Market Cap
$7.54B
EV/EBITDA Ratio
74.26x
TTM Avg
74.38x
3Y Avg
147.51x
5Y Avg
147.51x
Market Cap
$7.64B
EV/EBITDA Ratio
17.38x
TTM Avg
17.99x
3Y Avg
23.37x
5Y Avg
26.61x
Market Cap
$7.75B
EV/EBITDA Ratio
N/A
TTM Avg
135.79x
3Y Avg
135.79x
5Y Avg
135.79x
Market Cap
$7.95B
EV/EBITDA Ratio
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$7.99B
EV/EBITDA Ratio
44.53x
TTM Avg
37.76x
3Y Avg
37.76x
5Y Avg
37.76x
Market Cap
$6.67B
EV/EBITDA Ratio
16.74x
TTM Avg
15.74x
3Y Avg
18.78x
5Y Avg
18.87x
| NAME | MARKET CAP | EV/EBITDA RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Ionis Pharmaceuticals, Inc. (IONS) | $7.41B | 2.24x | 2.95x | 2.95x | 173.88x |
| Hinge Health, Inc. (HNGE)vs › | $7.54B | 74.26x | 74.38x | 147.51x | 147.51x |
| HealthEquity, Inc. (HQY)vs › | $7.64B | 17.38x | 17.99x | 23.37x | 26.61x |
| Alkermes plc (ALKS)vs › | $7.12B | 45.75x | 25.66x | 15.19x | 371.09x |
| Cytokinetics, Incorporated (CYTK)vs › | $7.75B | N/A | 135.79x | 135.79x | 135.79x |
| Praxis Precision Medicines, Inc. (PRAX)vs › | $7.95B | N/A | N/A | N/A | N/A |
| Caris Life Sciences, Inc. (CAI)vs › | $7.99B | 44.53x | 37.76x | 37.76x | 37.76x |
| Immunovant, Inc. (IMVT)vs › | $6.75B | N/A | N/A | N/A | N/A |
| Chemed Corporation (CHE)vs › | $6.67B | 16.74x | 15.74x | 18.78x | 18.87x |
| Hims & Hers Health, Inc. (HIMS)vs › | $6.59B | N/A | 64.66x | 316.14x | 316.14x |
At 2.2, EV/EBITDA is at an extreme level, where the multiple carries little signal — higher than 1% of readings in its estimated 18-year history.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
estimated 18-year low
2.2
median
132.6
estimated 18-year high
2107.7
EV/EBITDA = Enterprise Value / EBITDA (TTM)
Enterprise value to EBITDA is a capital-structure-neutral valuation multiple, useful for comparing companies with different debt levels and tax rates.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | EV/EBITDA RATIO |
|---|---|
| 2026-10-05 | 2.19x |
| 2026-10-02 | 2.19x |
| 2026-10-01 | 2.21x |
| 2026-09-30 | 2.23x |
| 2026-09-29 | 2.28x |
| 2026-09-28 | 2.27x |
| 2026-09-25 | 2.23x |
| 2026-09-24 | 2.20x |
| 2026-09-23 | 2.20x |
| 2026-09-22 | 2.27x |
| 2026-09-21 | 2.24x |
| 2026-09-18 | 2.22x |
| 2026-09-17 | 2.31x |
| 2026-09-16 | 2.24x |
| 2026-09-15 | 2.33x |
| 2026-09-14 | 2.50x |
| 2026-09-11 | 2.60x |
| 2026-09-10 | 2.66x |
| 2026-09-09 | 2.68x |
| 2026-09-08 | 2.70x |
| 2026-09-04 | 2.76x |
| 2026-09-03 | 2.76x |
| 2026-09-02 | 2.88x |
| 2026-09-01 | 2.83x |
| 2026-08-31 | 2.84x |
| 2026-08-28 | 2.87x |
| 2026-08-27 | 2.93x |
| 2026-08-26 | 2.96x |
| 2026-08-25 | 2.97x |
| 2026-08-24 | 2.91x |
| 2026-08-21 | 2.82x |
| 2026-08-20 | 2.78x |
| 2026-08-19 | 2.86x |
| 2026-08-18 | 2.82x |
| 2026-08-17 | 2.78x |
| 2026-08-14 | 2.72x |
| 2026-08-13 | 2.67x |
| 2026-08-12 | 2.70x |
| 2026-08-11 | 2.65x |
| 2026-08-10 | 2.71x |
| 2026-08-07 | 2.70x |
| 2026-08-06 | 2.62x |
| 2026-08-05 | 2.60x |
| 2026-08-04 | 2.64x |
| 2026-08-03 | 2.62x |
| 2026-07-31 | 2.51x |
| 2026-07-30 | 2.57x |
| 2026-07-29 | 2.40x |
| 2026-07-28 | 2.45x |
| 2026-07-27 | 2.48x |
| 2026-07-24 | 2.50x |
| 2026-07-23 | 2.47x |
| 2026-07-22 | 2.40x |
| 2026-07-21 | 2.38x |
| 2026-07-20 | 2.36x |
| 2026-07-17 | 2.42x |
| 2026-07-16 | 2.43x |
| 2026-07-15 | 2.43x |
| 2026-07-14 | 2.44x |
| 2026-07-13 | 2.50x |
| 2026-07-10 | 2.56x |
| 2026-07-09 | 2.78x |
| 2026-07-08 | 3.52x |
| 2026-07-07 | 3.59x |
| 2026-07-06 | 3.48x |
| 2026-07-02 | 3.43x |
| 2026-07-01 | 3.33x |
| 2026-06-30 | 3.33x |
| 2026-06-29 | 3.39x |
| 2026-06-26 | 3.40x |
| 2026-06-25 | 3.30x |
| 2026-06-24 | 3.23x |
| 2026-06-23 | 3.21x |
| 2026-06-22 | 3.21x |
| 2026-06-18 | 3.14x |
| 2026-06-17 | 3.15x |
| 2026-06-16 | 3.11x |
| 2026-06-15 | 3.14x |
| 2026-06-12 | 3.11x |
| 2026-06-11 | 3.13x |
| 2026-06-10 | 3.11x |
| 2026-06-09 | 3.16x |
| 2026-06-08 | 3.12x |
| 2026-06-05 | 3.16x |
| 2026-06-04 | 3.18x |
| 2026-06-03 | 3.13x |
| 2026-06-02 | 3.10x |
| 2026-06-01 | 3.19x |
| 2026-05-29 | 3.23x |
| 2026-05-28 | 3.26x |
| 2026-05-27 | 3.23x |
| 2026-05-26 | 3.22x |
| 2026-05-22 | 3.20x |
| 2026-05-21 | 3.20x |
| 2026-05-20 | 3.18x |
| 2026-05-19 | 3.13x |
| 2026-05-18 | 3.08x |
| 2026-05-15 | 3.15x |
| 2026-05-14 | 3.20x |
| 2026-05-13 | 3.27x |
| 2026-05-12 | 3.21x |
| 2026-05-11 | 3.19x |
| 2026-05-08 | 3.20x |
| 2026-05-07 | 3.21x |
| 2026-05-06 | 3.24x |
| 2026-05-05 | 3.19x |
| 2026-05-04 | 3.19x |
| 2026-05-01 | 3.19x |
| 2026-04-30 | 3.17x |
| 2026-04-29 | 3.23x |
| 2026-04-28 | 3.12x |
| 2026-04-27 | 3.13x |
| 2026-04-24 | 3.17x |
| 2026-04-23 | 3.20x |
| 2026-04-22 | 3.23x |
| 2026-04-21 | 3.23x |
| 2026-04-20 | 3.23x |
| 2026-04-17 | 3.26x |
| 2026-04-16 | 3.24x |
| 2026-04-15 | 3.30x |
| 2026-04-14 | 3.30x |
| 2026-04-13 | 3.23x |
| 2026-04-10 | 3.24x |
| 2026-04-09 | 3.29x |
| 2026-04-08 | 3.23x |
| 2026-04-07 | 3.19x |
| 2026-04-06 | 3.21x |
| 2026-04-02 | 3.23x |
| 2026-04-01 | 3.24x |
| 2026-03-31 | 3.24x |
| 2026-03-30 | 3.14x |
| 2026-03-27 | 3.13x |
| 2026-03-26 | 3.21x |
| 2026-03-25 | 3.15x |
| 2026-03-24 | 3.04x |
| 2026-03-23 | 3.08x |
| 2026-03-20 | 3.09x |
| 2026-03-19 | 3.10x |
| 2026-03-18 | 3.11x |
| 2026-03-17 | 3.14x |
| 2026-03-16 | 3.14x |
| 2026-03-13 | 3.10x |
| 2026-03-12 | 3.14x |
| 2026-03-11 | 3.23x |
| 2026-03-10 | 3.26x |
| 2026-03-09 | 3.25x |
| 2026-03-06 | 3.20x |
| 2026-03-05 | 3.24x |
| 2026-03-04 | 3.40x |
| 2026-03-03 | 3.37x |
| 2026-03-02 | 3.49x |
| 2026-02-27 | 3.46x |
| 2023-02-22 | 159.33x |
| 2023-02-21 | 164.61x |
| 2023-02-17 | 165.97x |
| 2023-02-16 | 164.16x |
| 2023-02-15 | 165.90x |
| 2023-02-14 | 168.22x |
| 2023-02-13 | 169.92x |
| 2023-02-10 | 167.44x |
| 2023-02-09 | 168.77x |
| 2023-02-08 | 168.62x |
| 2023-02-07 | 174.71x |
| 2023-02-06 | 172.98x |
| 2023-02-03 | 174.53x |
| 2023-02-02 | 175.56x |
| 2023-02-01 | 171.24x |
| 2023-01-31 | 170.65x |
| 2023-01-30 | 168.33x |
| 2023-01-27 | 171.21x |
| 2023-01-26 | 168.85x |
| 2023-01-25 | 170.21x |
| 2023-01-24 | 171.39x |
| 2023-01-23 | 168.99x |
| 2023-01-20 | 173.94x |
| 2023-01-19 | 173.27x |
| 2023-01-18 | 170.47x |
| 2023-01-17 | 170.39x |
| 2023-01-13 | 170.58x |
| 2023-01-12 | 167.56x |
| 2023-01-11 | 163.57x |
| 2023-01-10 | 164.90x |
| 2023-01-09 | 160.99x |
| 2023-01-06 | 173.05x |
| 2023-01-05 | 171.57x |
| 2023-01-04 | 168.37x |
| 2023-01-03 | 162.21x |
| 2022-12-30 | 162.91x |
| 2022-12-29 | 161.36x |
| 2022-12-28 | 160.51x |
| 2022-12-27 | 160.66x |
| 2022-12-23 | 164.35x |
| 2022-12-22 | 166.45x |
| 2022-12-21 | 166.78x |
| 2022-12-20 | 167.15x |
| 2022-12-19 | 163.61x |
| 2022-12-16 | 166.19x |
| 2022-12-15 | 164.49x |
| 2022-12-14 | 164.86x |
| 2022-12-13 | 164.24x |
| 2022-12-12 | 164.72x |
| 2022-12-09 | 161.91x |
| 2022-12-08 | 163.76x |
| 2022-12-07 | 164.49x |
| 2022-12-06 | 163.87x |
| 2022-12-05 | 167.37x |
| 2022-12-02 | 172.31x |
| 2022-12-01 | 171.87x |
| 2022-11-30 | 174.05x |
| 2022-11-29 | 166.56x |
| 2022-11-28 | 172.35x |
| 2022-11-25 | 176.89x |
| 2022-11-23 | 175.74x |
| 2022-11-22 | 179.25x |
| 2022-11-21 | 180.20x |
| 2022-11-18 | 182.53x |
| 2022-11-17 | 182.34x |
| 2022-11-16 | 181.05x |
| 2022-11-15 | 184.11x |
| 2022-11-14 | 186.03x |
| 2022-11-11 | 183.12x |
| 2022-11-10 | 191.30x |
| 2022-11-09 | 596.59x |
| 2022-11-08 | 586.52x |
| 2022-11-07 | 578.57x |
| 2022-11-04 | 577.82x |
| 2022-11-03 | 614.36x |
| 2022-11-02 | 616.72x |
| 2022-11-01 | 618.58x |
| 2022-10-31 | 610.75x |
| 2022-10-28 | 615.85x |
| 2022-10-27 | 602.18x |
| 2022-10-26 | 612.62x |
| 2022-10-25 | 612.24x |
| 2022-10-24 | 617.59x |
| 2022-10-21 | 620.07x |
| 2022-10-20 | 618.58x |
| 2022-10-19 | 614.11x |
| 2022-10-18 | 635.61x |
| 2022-10-17 | 639.58x |
| 2022-10-14 | 637.60x |
| 2022-10-13 | 629.02x |
| 2022-10-12 | 633.37x |
| 2022-10-11 | 627.65x |
| 2022-10-10 | 621.94x |
| 2022-10-07 | 632.25x |
| 2022-10-06 | 628.15x |
| 2022-10-05 | 632.87x |
| 2022-10-04 | 635.48x |
| 2022-10-03 | 620.57x |
| 2022-09-30 | 611.13x |
| 2022-09-29 | 611.75x |
| 2022-09-28 | 613.49x |
| 2022-09-27 | 586.77x |
| 2022-09-26 | 580.31x |
| 2022-09-23 | 598.70x |
| 2022-09-22 | 620.32x |
| 2022-09-21 | 621.56x |
| 2022-09-20 | 639.33x |
| 2022-09-19 | 642.32x |
Showing the most recent 260 of 1,502 data points. The chart above shows the full history.
