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Ardelyx, Inc.ARDXCompetitor analysis, valuation and peers

United States · USD·Health Care›Pharmaceuticals: Major
Momentum laggard 11
Mkt cap
$724M
US dollars, full cap
Free float
96%
of shares outstanding
$/day
$15.3M
20-day average traded
Fwd P/E
225.1×
forward earnings
ROIC−WACC
-29.0 pp
WACC 7.9%
Hurdle
n/a
no reverse DCF
Next earnings
111 days
25 Feb 2027
Close · USD$2.88
1D-3.7%
1W-5.0%
1M-11.9%
3M-28.0%
6M-57.5%
YTD-50.6%
1Y-51.6%
ATR %5.5%
Beta0.93
52w lowhigh65.7% off high

What Ardelyx does

Employees: 489

Ardelyx at a glance

Size Ardelyx (ARDX) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $724M, the 2456th largest of 3,117 United States companies the cockpit tracks. Shares closed at $2.88 on 6 Nov 2026.

Performance Over six months the shares fell 57.5%, against -8.9% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.

Growth Revenue grew 17.6% over the last twelve months (peer median +10.9%); the operating margin is -7.7% (peer median 15.1%).

Valuation It trades at 225.1× forward earnings against a peer median of 15.2× (most expensive of 12).

Capital Return on invested capital runs 29.0 points below its cost of capital (7.9% WACC).

Short interest Short interest is 12.1% of the free float (15 Oct 2026).

Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).

Relative performance

40608010011 May 202611 Aug 20266 Nov 2026Peer median 91ARDX 44
Six months, rebased to 100: Ardelyx against the median of its 20 peers (local-currency closes).

Ardelyx financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$468M$407M$334M$124M$52.2M
Revenue growth—+22%+168%+139%—
Gross profit$439M$365M$281M$105M$43.4M
EBITDA-$33.0M-$37.9M-$25.9M-$62.0M-$59.2M
Net income-$55.5M-$61.6M-$39.1M-$66.1M-$67.2M
Free cash flow-$16.0M-$44.0M-$45.8M-$90.1M-$70.1M
Capital expenditure$443,000$1.49M$1.01M$344,000$55,000
Total debt$256M$208M$153M$56.0M$47.7M

Quarterly statements and history in the cockpit →

Ardelyx competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-50%0%+50%-20%0%ABUSIRWDCGEM301096600351000566RIGL688488603567BLISSGVSPHILSGMT300016ACHVZVRA000915688356NVCTARDX6-month return →1-month return →
Up and to the right = strong over both horizons. Ardelyx is the large dot.

Fundamentals: revenue growth against valuation

-100%0%+100%+200%+300%0×100×200×IRWD301096RIGL688488603567PHIL300016ZVRA0009156883564534ARDXRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Ardelyx is the large dot.

Ardelyx competitors and peer comparison

How Ardelyx compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Ardelyx against its 20 peers (data as of 6 Nov 2026)
MeasureARDXPeer medianRank in peer set
1-month return-11.9%-6.5%8th lowest of 21
6-month return-57.5%-8.9%lowest of 21
Distance from 52-week high-65.7%-29.4%lowest of 21
Revenue growth (TTM)+17.6%+10.9%8th highest of 17
Operating margin-7.7%15.1%3rd lowest of 16
Forward P/E225.1×15.2×most expensive of 12
ROIC minus cost of capital-29.0 pp+0.8 pplowest of 15

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Ardelyx ARDXUnited States$724M-58%+18%-8%225.1×n/an/a
Arbutus Biopharma ABUSUnited States$724M-16%+1,079%81%n/an/an/a
Ironwood Pharmaceuticals IRWDUnited States$725M+4%+26%61%3.3×n/an/a
Cullinan Therapeutics CGEMUnited States$728M-22%n/an/an/an/an/a
Hangzhou Bio-Sincerity Pharma-Tech 301096.SZChina$716M-24%+5%-30%64.3×n/an/a
Yabao Pharmaceutical 600351.SSChina$711M-3%-3%16%n/a-7.5%-2.8%
Hainan Haiyao 000566.SZChina$710M-19%-18%-50%n/an/an/a
Rigel Pharmaceuticals RIGLUnited States$741M+52%+3%31%11.9×-1.1%+22.1%
Jiangsu Aidea Pharmaceutical 688488.SSChina$743M-32%+7%8%123.9×33.8%+19.8%
HeiLongJiang ZBD Pharmaceutical 603567.SSChina$705M-29%-82%n/a6.3×10.5%-25.1%
Bliss GVS Pharma BLISSGVS.NSIndia$698M+126%+21%15%n/a37.0%+10.1%
HPGC Renmintongtai Pharmaceutical 600829.SSChina$753M-11%+4%2%n/a4.9%+5.3%
Philogen PHIL.MIItaly$694M-7%+295%79%32.5×n/an/a
Sagimet Biosciences SGMTUnited States$693M+28%n/an/an/an/an/a
Beijing Beilu Pharmaceutical 300016.SZChina$692M-16%+23%11%88.2×10.3%+7.9%
Achieve Life Sciences ACHVUnited States$692M+29%n/an/an/an/an/a
Zevra Therapeutics ZVRAUnited States$690M+4%+75%31%11.8×0.0%+51.6%
Shandong Wit Dyne Health 000915.SZChina$687M-33%-36%36%9.1×n/an/a
Jenkem Technology 688356.SSChina$686M-23%+52%11%36.8×41.4%+11.2%
Mochida Pharmaceutical 4534.TJapan$683M-6%+15%9%15.2×n/an/a
Nuvectis Pharma NVCTUnited States$683M+79%n/an/an/an/an/a

Questions

Which companies are Ardelyx's closest peers?
The cockpit's peer set: Arbutus Biopharma (ABUS), Ironwood Pharmaceuticals (IRWD), Cullinan Therapeutics (CGEM), Hangzhou Bio-Sincerity Pharma-Tech (301096.SZ), Yabao Pharmaceutical (600351.SS), Hainan Haiyao (000566.SZ), Rigel Pharmaceuticals (RIGL), Jiangsu Aidea Pharmaceutical (688488.SS).
Is Ardelyx expensive compared with its peers?
On forward p/e it trades at 225.1× against a peer median of 15.2×, most expensive of 12 in its peer set.
How has Ardelyx stock performed?
Over six months to 6 Nov 2026 the shares returned -57.5% against -8.9% for the median peer; over one year -51.6%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.