Ardelyx (ARDX)

Healthcare · Biotechnology
$3.28 +0.31% on the day Market cap $791M 52-week range $3.18 to $8.40 Prices as of Oct 11, 2026

What the price implies

A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.

Ardelyx's free cash flow was negative in fiscal 2025, so a cash-flow reverse DCF doesn't give a meaningful answer. The Modeling tab works from revenue and margins instead.

Fundamental grade

D

Five factors scored 1 to 9 from ARDX's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.

Valuation5
Profitability2
Growth7
Financial health5
Cash efficiency0

Results from SEC filings

Fiscal years, from Ardelyx's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.

Fiscal year20212022202320242025
Revenue$10M$52M$124M$334M$407M
Net income-$158M-$67M-$66M-$39M-$62M
Free cash flow-$154M-$70M-$90M-$46M-$44M
EPS (diluted)-$1.52-$0.42-$0.30-$0.17-$0.26
Operating margin-1528.6%-122.2%-50.8%-8.4%-10.1%

Where the revenue comes from

Revenue by products, fiscal 2025. Every breakdown, year by year.

IBSRELA$274M67%
XPHOZAH$104M25%
Product supply revenue$16M4%
Non-cash royalty revenue related to the sale of future royalties$9M2%
Licensing revenue$5M1%

Superinvestors who own ARDX

From each investor's latest 13F filing (what a 13F shows). 1 of the investors we track hold it.

InvestorLast quarterValue% of portfolioQuarter
Cliff Asness
AQR Capital Management
Trimmed $12M0.00%Q2 2026

Insider buying

Open-market purchases by Ardelyx's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.

DateInsiderSharesPriceValue
Feb 20, 2026 David M Mott
333,333$5.84$2M

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In the full deep dive

DCF fair value per share
Yearly return (IRR) at today's price
Growth implied by revenue and margins
15+ years of statements and quarters

Questions

Are Ardelyx insiders buying the stock?

1 open-market insider purchase of ARDX in the last 12 months, from SEC Form 4 filings.

Which superinvestors own Ardelyx?

1 of the superinvestors Investingly tracks hold ARDX in their latest 13F, including Cliff Asness.

Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.