Overall Score

Growth Durability

Ardelyx still has a high gross margin profile, but TTM profitability remains negative with net profit margin at -12.35% and operating margin at -7.86%.

Revenue quality is mixed: revenue per share is $1.82, while income quality remains low at 0.31, suggesting earnings are not yet translating cleanly into cash flow.

Financial Strength

Liquidity remains solid with a current ratio of 3.34 and quick ratio of 3.15, giving the company near-term flexibility.

Leverage is still meaningful, with debt-to-equity at 1.72 and debt-to-capital at 0.63, while interest coverage remains negative at -1.29.

Profitability

TTM returns remain deeply negative, including ROA of -9.67%, ROE of -36.00%, and ROIC of -7.96%.

Cash generation is still weak, with free cash flow yield at -1.87% and operating cash flow margin at -3.84%.

Valuation

Valuation is not demanding on sales at 2.12x P/S and 2.47x EV/S, but earnings-based multiples are distorted by losses.

Negative free cash flow and negative EBITDA make traditional cash-flow and earnings valuation metrics less reliable.

Momentum

The company’s growth setup remains supported by a strong gross margin base, but the lack of profitability limits momentum quality.

No recent news was provided to indicate a material change in operating momentum this month.