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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $262.60M | $263.40M | $78.50M | $131.40M | $46.70M | $21.80M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | $285.20M | $348.20M | $379.70M | $315.00M | $180.40M | $108.36M |
| SG&A | $95.90M | $165.40M | $100.30M | $79.60M | $61.60M | $38.30M |
| Total Operating Expenses | $381.10M | $513.60M | $480.00M | $394.60M | $242.00M | $146.66M |
| D&A | $3.00M | $4.60M | $4.80M | $6.30M | $4.80M | $3.17M |
| Operating Income | ($118.50M) | ($250.20M) | ($401.50M) | ($263.20M) | ($195.30M) | ($124.86M) |
| Interest Expense | - | $0 | $0 | $0 | $100.0K | $65.0K |
| Income Tax | $300.0K | $600.0K | $900.0K | $20.90M | $0 | $0 |
| Net Income | ($80.80M) | ($198.90M) | ($367.30M) | ($282.50M) | ($191.00M) | ($119.33M) |
| EPS - Basic | ($1.14) | ($2.77) | ($6.62) | ($5.31) | ($3.02) | - |
| EPS - Diluted | ($1.14) | ($2.77) | ($6.62) | ($5.31) | ($3.02) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $142.90M | $100.50M | $311.70M | $81.30M | $108.30M | $588.37M |
| Accounts Receivable | $1.00M | $5.70M | $0 | $1.00M | $15.00M | $1.00M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $24.40M | $13.40M | $17.80M | $5.70M | $31.30M | $7.12M |
| Current Assets | $700.70M | $1.07B | $1.28B | $1.24B | $1.55B | $703.09M |
| Total Assets | $717.90M | $1.09B | $1.30B | $1.27B | $1.58B | $717.37M |
| Current Liabilities | $142.50M | $229.80M | $257.10M | $295.10M | $261.70M | $49.09M |
| Long-term Debt | $400.0K | $600.0K | $800.0K | $1.00M | $1.00M | $2.00M |
| Total Liabilities | $284.00M | $529.70M | $644.60M | $703.90M | $799.90M | $75.11M |
| Stockholders' Equity | $433.90M | $561.70M | $660.00M | $564.90M | $781.70M | $642.26M |
| Retained Earnings | ($1.61B) | ($1.53B) | ($1.33B) | ($965.40M) | ($682.90M) | ($491.89M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($273.80M) | ($259.30M) | ($347.80M) | ($273.50M) | $559.40M | ($89.76M) |
| Investing Cash Flow | $407.60M | $34.70M | $203.50M | $242.80M | ($1.31B) | $164.25M |
| Financing Cash Flow | ($91.40M) | $7.90M | $374.70M | $4.70M | $278.60M | $504.67M |
| CapEx | $1.90M | $1.80M | $2.90M | $6.80M | $4.70M | $6.45M |
| Free Cash Flow | ($275.70M) | ($261.10M) | ($350.70M) | ($280.30M) | $554.70M | ($96.20M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | -45.1% | -95.0% | -511.5% | -200.3% | -418.2% | -572.7% |
| EBITDA margin | -44.0% | -93.2% | -505.4% | -195.5% | -407.9% | -558.2% |
| Net margin | -30.8% | -75.5% | -467.9% | -215.0% | -409.0% | -547.4% |
| Free cash flow margin | -105.0% | -99.1% | -446.8% | -213.3% | 1187.8% | -441.3% |
| FCF / Net income | 3.41 | 1.31 | 0.95 | 0.99 | -2.90 | 0.81 |
| R&D / Revenue | 108.6% | 132.2% | 483.7% | 239.7% | 386.3% | 497.0% |
| SG&A / Revenue | 36.5% | 62.8% | 127.8% | 60.6% | 131.9% | 175.7% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -11.3% | -18.2% | -28.2% | -22.3% | -12.1% | -16.6% |
| Return on equity | -18.6% | -35.4% | -55.7% | -50.0% | -24.4% | -18.6% |
| Return on invested capital | -21.6% | -35.2% | -48.0% | -36.7% | -19.7% | -15.3% |
| Liquidity | ||||||
| Current ratio | 4.92 | 4.64 | 4.98 | 4.20 | 5.93 | 14.32 |
| Quick ratio | 4.92 | 4.64 | 4.98 | 4.20 | 5.93 | 14.32 |
| Cash ratio | 1.00 | 0.44 | 1.21 | 0.28 | 0.41 | 11.99 |
| Leverage | ||||||
| Debt / Equity | 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 |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | -1953.0x | -1920.9x |
| Equity multiplier | 1.65 | 1.94 | 1.98 | 2.25 | 2.02 | 1.12 |
| Liabilities / Assets | 0.40 | 0.49 | 0.49 | 0.55 | 0.51 | 0.10 |
| Efficiency | ||||||
| Asset turnover | 0.37 | 0.24 | 0.06 | 0.10 | 0.03 | 0.03 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 1d | 8d | 0d | 3d | 117d | 17d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 1.9x | 2.5x | 3.5x | 3.2x | 4.2x | - |
| P / S | 3.2x | 5.2x | 29.1x | 13.9x | 69.5x | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -0.3% | 235.5% | -40.3% | 181.4% | 114.2% | -49.3% |
| Revenue CAGR (3y) | 26.0% | 78.0% | 53.3% | 45.1% | 48.4% | - |
| Revenue CAGR (5y) | 64.5% | 43.7% | 40.6% | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 52.6% | 37.7% | -52.5% | -34.8% | -56.4% | -142.3% |
| Net income growth (YoY) | 59.4% | 45.8% | -30.0% | -47.9% | -60.1% | -69.8% |
| EPS growth (YoY) | 58.8% | 58.2% | -24.7% | -75.8% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -5.6% | 25.5% | -25.1% | - | - | -105.3% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -22.8% | -14.9% | 16.8% | -27.7% | 21.7% | 183.3% |
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%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-0.85
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing ARVINAS against the 5 most active filers in the same SIC group.