ARVN · Arvinas, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $188.80M | - | $41.90M | $22.40M | $188.80M | - | $102.40M | $76.50M | $25.30M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $60.30M | - | $64.70M | $68.60M | $90.80M | - | $86.90M | $93.70M | $84.30M | - |
| SG&A | $19.10M | - | $21.00M | $25.30M | $26.60M | - | $75.80M | $31.30M | $24.30M | - |
| Total Operating Expenses | $79.40M | - | $85.70M | $93.90M | $117.40M | - | $162.70M | $125.00M | $108.60M | - |
| D&A | $700.0K | - | $800.0K | $800.0K | $700.0K | - | $1.10M | $1.20M | $1.20M | - |
| Operating Income | ($63.80M) | - | ($43.80M) | ($71.50M) | $71.40M | - | ($60.30M) | ($48.50M) | ($83.30M) | - |
| Interest Expense | - | - | - | $0 | $0 | - | $0 | $0 | $0 | - |
| Income Tax | $100.0K | - | $300.0K | ($300.0K) | $200.0K | - | $600.0K | $200.0K | $100.0K | - |
| Net Income | ($57.60M) | - | ($35.10M) | ($61.20M) | $82.90M | - | ($49.20M) | ($35.20M) | ($69.40M) | - |
| EPS - Basic | ($0.90) | - | ($0.48) | ($0.84) | $1.14 | - | ($0.68) | ($0.49) | ($0.97) | - |
| EPS - Diluted | ($0.90) | - | ($0.48) | ($0.84) | $1.14 | - | ($0.68) | ($0.49) | ($0.97) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $87.30M | $142.90M | $101.50M | $114.90M | $81.00M | $100.50M | $85.20M | $154.80M | $88.00M | $311.70M |
| Accounts Receivable | $1.80M | $1.00M | $20.30M | $500.0K | $400.0K | $5.70M | $7.30M | $1.80M | $0 | $0 |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $31.40M | $24.40M | $18.00M | $16.60M | $26.40M | $13.40M | $17.70M | $23.20M | $17.80M | $17.80M |
| Current Assets | $630.70M | $700.70M | $826.30M | $889.50M | $979.70M | $1.07B | $1.15B | $1.26B | $1.19B | $1.28B |
| Total Assets | $647.50M | $717.90M | $844.30M | $909.30M | $1.00B | $1.09B | $1.17B | $1.28B | $1.21B | $1.30B |
| Current Liabilities | $115.90M | $142.50M | $144.90M | $157.80M | $214.00M | $229.80M | $275.90M | $347.20M | $240.80M | $257.10M |
| Long-term Debt | $300.0K | $400.0K | $400.0K | $500.0K | $500.0K | $600.0K | $600.0K | $700.0K | $700.0K | $800.0K |
| Total Liabilities | $260.70M | $284.00M | $279.90M | $300.00M | $341.00M | $529.70M | $581.10M | $679.40M | $602.90M | $644.60M |
| Stockholders' Equity | $386.80M | $433.90M | $564.40M | $609.30M | $660.10M | $561.70M | $586.00M | $600.20M | $609.70M | $660.00M |
| Retained Earnings | ($1.67B) | ($1.61B) | ($1.54B) | ($1.51B) | ($1.45B) | ($1.53B) | ($1.49B) | ($1.44B) | ($1.40B) | ($1.33B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($69.20M) | - | - | - | ($88.90M) | - | - | - | ($97.50M) | - |
| Investing Cash Flow | $13.70M | - | - | - | $69.50M | - | - | - | ($127.80M) | - |
| Financing Cash Flow | ($100.0K) | - | - | - | ($100.0K) | - | - | - | $1.60M | - |
| CapEx | $1.30M | - | - | - | $400.0K | - | - | - | $100.0K | - |
| Free Cash Flow | ($70.50M) | - | - | - | ($89.30M) | - | - | - | ($97.60M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -33.8% | - | -104.5% | -319.2% | 37.8% | - | -58.9% | -63.4% | -329.2% | - |
| EBITDA margin | -33.4% | - | -102.6% | -315.6% | 38.2% | - | -57.8% | -61.8% | -324.5% | - |
| Net margin | -30.5% | - | -83.8% | -273.2% | 43.9% | - | -48.0% | -46.0% | -274.3% | - |
| Free cash flow margin | -37.3% | - | - | - | -47.3% | - | - | - | -385.8% | - |
| FCF / Net income | 1.22 | - | - | - | -1.08 | - | - | - | 1.41 | - |
| R&D / Revenue | 31.9% | - | 154.4% | 306.3% | 48.1% | - | 84.9% | 122.5% | 333.2% | - |
| SG&A / Revenue | 10.1% | - | 50.1% | 112.9% | 14.1% | - | 74.0% | 40.9% | 96.0% | - |
| Effective tax rate | - | - | - | - | 0.2% | - | - | - | - | - |
| Return on assets | -8.9% | - | -4.2% | -6.7% | 8.3% | - | -4.2% | -2.8% | -5.7% | - |
| Return on equity | -14.9% | - | -6.2% | -10.0% | 12.6% | - | -8.4% | -5.9% | -11.4% | - |
| Return on invested capital | -13.0% | - | -6.1% | -9.3% | 10.8% | - | -8.1% | -6.4% | -10.8% | - |
| Liquidity | ||||||||||
| Current ratio | 5.44 | 4.92 | 5.70 | 5.64 | 4.58 | 4.64 | 4.17 | 3.62 | 4.94 | 4.98 |
| Quick ratio | 5.44 | 4.92 | 5.70 | 5.64 | 4.58 | 4.64 | 4.17 | 3.62 | 4.94 | 4.98 |
| Cash ratio | 0.75 | 1.00 | 0.70 | 0.73 | 0.38 | 0.44 | 0.31 | 0.45 | 0.37 | 1.21 |
| Leverage | ||||||||||
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt / Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt / EBITDA | - | - | - | - | 0.01 | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.67 | 1.65 | 1.50 | 1.49 | 1.52 | 1.94 | 1.99 | 2.13 | 1.99 | 1.98 |
| Liabilities / Assets | 0.40 | 0.40 | 0.33 | 0.33 | 0.34 | 0.49 | 0.50 | 0.53 | 0.50 | 0.49 |
| Efficiency | ||||||||||
| Asset turnover | 0.29 | - | 0.05 | 0.02 | 0.19 | - | 0.09 | 0.06 | 0.02 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 3d | - | 177d | 8d | 1d | - | 26d | 9d | 0d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | 6.2x | - | - | - | - | - |
| P / B | 1.8x | - | 1.1x | 0.9x | 0.8x | - | 3.0x | 3.2x | 4.9x | - |
| P / S | 3.6x | - | 14.9x | 24.0x | 2.7x | - | 17.3x | 25.0x | 117.0x | - |
| EV / EBITDA | - | - | - | - | 6.0x | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 0.0% | - | -59.1% | -70.7% | 646.2% | - | 196.0% | 40.4% | -22.2% | - |
| Revenue CAGR (3y) | 79.8% | - | 11.4% | -10.6% | 98.3% | - | 122.6% | 139.8% | 65.9% | - |
| Revenue CAGR (5y) | 102.5% | - | 40.7% | 31.3% | 97.8% | - | 27.8% | 80.3% | 44.5% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | 27.4% | -47.4% | - | - | 18.4% | 35.0% | 5.0% | - |
| Net income growth (YoY) | - | - | 28.7% | -73.9% | - | - | 23.1% | 47.1% | 15.3% | - |
| EPS growth (YoY) | - | - | 29.4% | -71.4% | - | - | 42.4% | 60.8% | 37.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 21.1% | - | - | - | 8.5% | - | - | - | -5.7% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -41.4% | -22.8% | -3.7% | 1.5% | 8.3% | -14.9% | 28.2% | 29.5% | 19.3% | 16.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$262.60M totalReportable Segment$262.60M · 100.0%
Product / service
$20.00M totalLicense$20.00M · 100.0%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing ARVINAS against the 5 most active filers in the same SIC group.