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Arvinas (ARVN) Financials

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$7.63 -0.01 (-0.16%)
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Annual Income Statements for Arvinas

Annual Income Statements for Arvinas

This table shows Arvinas' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -29 -240 -70 -119 -191 -283 -367 -199 -81
Consolidated Net Income / (Loss)		 -24 -41 -70 -119 -191 -283 -367 -199 -81
Net Income / (Loss) Continuing Operations		 -24 -41 -70 -119 -191 -283 -367 -199 -81
Total Pre-Tax Income 		-24 -41 -46 -115 -184 -251 -364 -198 -81
Total Operating Income		 -25 -44 -52 -121 -188 -263 -402 -250 -119
Total Gross Profit		 7.58 14 43 26 54 131 79 263 263
Total Revenue		 7.58 14 43 26 54 131 79 263 263
Operating Revenue		 7.58 14 43 26 54 131 79 263 263
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 32 58 95 147 242 395 480 514 381
Selling, General & Admin Expense		 3.55 13 27 38 62 80 100 165 96
Research & Development Expense		 29 45 67 108 180 315 380 348 285
Total Other Income / (Expense), net		 0.71 2.32 5.90 5.60 4.30 12 38 52 38
Interest & Investment Income		 0.20 2.47 4.60 3.50 1.80 12 39 55 38
Other Income / (Expense), net		 0.56 -0.09 1.40 2.10 2.50 0.20 -1.20 -2.90 -0.40
Income Tax Expense		 - - - 0.00 0.00 21 0.90 0.60 0.30
Other Gains / (Losses), net		 - 0.00 -25 -4.10 -6.90 -11 -2.50 0.00 0.00
Basic Earnings per Share		 ($15.08) ($25.45) ($2.13) ($3.02) ($3.82) ($5.31) ($6.62) ($2.77) ($1.14)
Weighted Average Basic Shares Outstanding		 1.90M 9.42M 32.90M 39.50M 50M 53.20M 55.50M 71.90M 70.90M
Diluted Earnings per Share		 ($15.08) ($25.45) ($2.13) ($3.02) ($3.82) ($5.31) ($6.62) ($2.77) ($1.14)
Weighted Average Diluted Shares Outstanding		 1.90M 9.42M 32.90M 39.50M 50M 53.20M 55.50M 71.90M 70.90M
Weighted Average Basic & Diluted Shares Outstanding		 1.90M 9.42M 32.93M 39.53M 53.05M 53.27M 68.08M 68.77M 63.96M

Quarterly Income Statements for Arvinas

This table shows Arvinas' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -158 -69 -35 -49 -54 83 -61 -35 -67 -58 169
Consolidated Net Income / (Loss)		 -155 -69 -35 -49 -45 83 -61 -35 -67 -58 169
Net Income / (Loss) Continuing Operations		 -155 -69 -35 -49 -45 83 -61 -35 -67 -58 169
Total Pre-Tax Income 		-153 -69 -35 -49 -45 83 -62 -35 -67 -58 170
Total Operating Income		 -165 -83 -49 -60 -58 71 -72 -44 -75 -64 164
Total Gross Profit		 -43 25 77 102 59 189 22 42 9.50 16 250
Total Revenue		 -43 25 77 102 59 189 22 42 9.50 16 250
Operating Revenue		 - 25 77 102 - 189 22 42 9.50 16 250
Total Cost of Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Operating Expenses		 122 109 125 163 117 117 94 86 84 79 86
Selling, General & Admin Expense		 27 24 31 76 34 27 25 21 23 19 24
Research & Development Expense		 95 84 94 87 83 91 69 65 61 60 53
Other Operating Expenses / (Income)		 - - - - - - - - - - 9.00
Total Other Income / (Expense), net		 12 14 14 12 13 12 10 9.00 7.30 6.30 5.50
Interest & Investment Income		 12 14 14 14 13 12 10 9.00 7.40 6.40 5.50
Other Income / (Expense), net		 -0.10 - -0.10 -2.60 -0.20 0.00 -0.30 0.00 - -0.10 0.00
Income Tax Expense		 1.60 0.10 0.20 0.60 -0.30 0.20 -0.30 0.30 0.10 0.10 0.20
Basic Earnings per Share		 ($2.65) ($0.97) ($0.49) ($0.68) ($0.63) $1.14 ($0.84) ($0.48) ($0.96) ($0.90) $2.61
Weighted Average Basic Shares Outstanding		 55.50M 71.70M 71.90M 72.10M 71.90M 72.50M 73M 73.20M 70.90M 64M 64.80M
Diluted Earnings per Share		 ($2.65) ($0.97) ($0.49) ($0.68) ($0.63) $1.14 ($0.84) ($0.48) ($0.96) ($0.90) $2.58
Weighted Average Diluted Shares Outstanding		 55.50M 71.70M 71.90M 72.10M 71.90M 72.70M 73M 73.20M 70.90M 64M 65.70M
Weighted Average Basic & Diluted Shares Outstanding		 68.08M 68.43M 68.65M 68.71M 68.77M 72.99M 73.42M 64.22M 63.96M 64.52M 65.39M

Annual Cash Flow Statements for Arvinas

This table details how cash moves in and out of Arvinas' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 26 -28 6.00 579 -476 -26 230 -217 42
Net Cash From Operating Activities		 5.11 -16 -41 -90 559 -274 -348 -259 -274
Net Cash From Continuing Operating Activities		 5.11 -16 -41 -90 559 -274 -348 -259 -274
Net Income / (Loss) Continuing Operations		 -24 -41 -70 -119 -191 -283 -367 -199 -81
Consolidated Net Income / (Loss)		 -24 -41 -70 -119 -191 -283 -367 -199 -81
Depreciation Expense		 0.35 0.71 1.60 3.20 4.80 6.30 4.80 4.60 3.00
Amortization Expense		 0.02 0.27 0.90 2.60 11 9.40 -13 -15 -6.30
Non-Cash Adjustments To Reconcile Net Income		 0.58 12 20 29 43 76 73 88 44
Changes in Operating Assets and Liabilities, net		 28 13 7.10 -5.10 691 -83 -44 -138 -234
Net Cash From Investing Activities		 21 -180 -93 164 -1,314 243 204 35 408
Net Cash From Continuing Investing Activities		 21 -180 -93 164 -1,314 243 204 35 408
Purchase of Property, Plant & Equipment		 -1.01 -2.83 -6.30 -6.40 -4.70 -6.80 -2.90 -1.80 -1.90
Purchase of Investments		 -3.20 -235 -257 -41 -1,745 -886 -956 -652 -354
Sale of Property, Plant & Equipment		 - - - - - 0.00 0.00 0.10 0.00
Sale and/or Maturity of Investments		 25 58 170 212 436 1,136 1,163 689 764
Net Cash From Financing Activities		 -0.16 168 140 505 279 4.70 375 7.90 -91
Net Cash From Continuing Financing Activities		 -0.16 168 140 506 279 4.70 375 7.90 -91
Repayment of Debt		 -0.16 -0.17 -0.20 - - 0.00 0.00 -0.40 -0.20
Repurchase of Common Equity		 0.00 -3.42 -0.60 -28 -4.60 0.00 -17 0.00 -92
Issuance of Common Equity		 0.00 115 138 460 283 4.70 392 8.30 0.70

Quarterly Cash Flow Statements for Arvinas

This table details how cash moves in and out of Arvinas' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 198 -224 67 -75 15 -20 34 -13 41 -56 7.00
Net Cash From Operating Activities		 -83 -98 50 -128 -84 -89 -95 -59 -30 -69 -48
Net Cash From Continuing Operating Activities		 -83 -98 50 -128 -84 -89 -95 -59 -30 -69 -48
Net Income / (Loss) Continuing Operations		 -155 -69 -35 -49 -45 83 -61 -35 -67 -58 169
Consolidated Net Income / (Loss)		 -155 -69 -35 -49 -45 83 -61 -35 -67 -58 169
Depreciation Expense		 1.20 1.20 1.20 1.10 1.10 0.70 0.80 0.80 0.70 0.70 0.70
Amortization Expense		 -5.20 -4.60 -3.90 -3.50 -3.20 0.10 -2.50 -2.20 -1.70 -1.00 2.20
Non-Cash Adjustments To Reconcile Net Income		 18 19 19 27 23 15 9.30 11 8.50 12 -21
Changes in Operating Assets and Liabilities, net		 58 -43 70 -104 -60 -188 -42 -34 30 -23 -200
Net Cash From Investing Activities		 -54 -128 13 51 99 70 129 64 146 14 55
Net Cash From Continuing Investing Activities		 -54 -128 13 51 99 70 129 64 146 14 55
Purchase of Property, Plant & Equipment		 -0.10 -0.10 -0.70 -0.70 -0.30 -0.40 -1.20 -0.10 -0.20 -1.30 -0.20
Purchase of Investments		 -291 -248 -193 -160 -51 -120 -118 -110 -6.60 -179 -60
Sale and/or Maturity of Investments		 237 120 206 212 151 190 248 174 153 194 116
Net Cash From Financing Activities		 335 1.60 3.40 2.40 0.50 -0.10 0.50 -18 -74 -0.10 0.40
Net Cash From Continuing Financing Activities		 335 1.60 3.40 2.40 0.50 -0.10 0.50 -18 -74 -0.10 0.40
Repayment of Debt		 - -0.20 -0.10 - -0.10 -0.10 - - -0.10 -0.10 -0.10

Annual Balance Sheets for Arvinas

This table presents Arvinas' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 67 199 302 717 1,582 1,269 1,305 1,091 718
Total Current Assets		 66 196 291 703 1,553 1,240 1,280 1,067 701
Cash & Equivalents		 31 3.19 9.21 588 108 81 312 101 143
Short-Term Investments		 8.26 185 272 100 1,394 1,124 949 939 543
Accounts Receivable		 26 5.03 6.28 8.40 26 8.00 7.20 14 6.40
Prepaid Expenses		 0.32 2.82 3.73 6.10 20 21 6.50 14 8.90
Plant, Property, & Equipment, net		 1.30 3.58 8.46 12 13 13 12 7.00 5.20
Total Noncurrent Assets		 0.02 0.02 2.31 2.00 3.90 15 13 17 12
Other Noncurrent Operating Assets		 0.02 0.02 2.31 2.00 3.90 15 13 17 12
Total Liabilities & Shareholders' Equity		 67 199 302 717 1,582 1,269 1,305 1,091 718
Total Liabilities		 67 63 75 75 800 704 645 530 284
Total Current Liabilities		 18 23 33 49 262 295 257 230 143
Accounts Payable		 0.60 2.76 4.56 7.10 54 75 92 72 70
Current Deferred Revenue		 14 16 20 22 206 219 163 156 71
Other Current Liabilities		 - 0.00 0.67 1.00 1.10 1.80 1.90 1.80 1.70
Total Noncurrent Liabilities		 49 40 42 26 538 409 388 300 142
Long-Term Debt		 0.15 2.00 2.00 2.00 1.00 1.00 0.80 0.60 0.40
Noncurrent Deferred Revenue		 49 37 38 23 534 405 386 292 134
Other Noncurrent Operating Liabilities		 0.05 0.15 1.71 1.10 2.90 2.70 0.50 7.30 6.80
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -61 137 227 642 782 565 660 562 434
Total Preferred & Common Equity		 -61 137 227 642 782 565 660 562 434
Preferred Stock		 - - - - - 0.00 0.00 0.00 0.00
Total Common Equity		 -61 137 227 642 782 565 660 562 434
Common Stock		 1.19 439 599 1,134 1,469 1,550 1,996 2,092 2,137
Retained Earnings		 -62 -302 -373 -492 -683 -965 -1,333 -1,532 -1,612
Treasury Stock		 - - - - - - - 0.00 -92
Accumulated Other Comprehensive Income / (Loss)		 -0.01 -0.22 0.11 0.60 -4.60 -19 -3.10 1.00 1.20

Quarterly Balance Sheets for Arvinas

This table presents Arvinas' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1,176 1,084 1,058 1,213 1,280 1,167 1,001 909 844 648 675
Total Current Assets		 1,148 1,057 1,033 1,190 1,257 1,150 980 890 826 631 652
Cash & Equivalents		 130 91 114 88 155 85 81 115 102 87 94
Short-Term Investments		 993 948 885 1,081 1,074 1,036 873 746 686 528 474
Accounts Receivable		 4.70 4.80 21 7.10 10 15 8.40 11 27 6.40 54
Prepaid Expenses		 15 7.60 8.40 8.40 13 13 17 17 12 9.40 30
Plant, Property, & Equipment, net		 13 13 13 10 9.80 6.80 6.70 6.10 5.40 5.50 5.00
Total Noncurrent Assets		 14 14 13 12 1.50 11 9.90 14 13 11 18
Other Noncurrent Operating Assets		 14 14 13 12 1.50 11 9.90 14 13 11 18
Total Liabilities & Shareholders' Equity		 1,176 1,084 1,058 1,213 1,280 1,167 1,001 909 844 648 675
Total Liabilities		 665 620 601 603 679 581 341 300 280 261 113
Total Current Liabilities		 283 307 317 241 347 276 214 158 145 116 83
Accounts Payable		 66 75 91 76 78 76 71 53 56 62 52
Current Deferred Revenue		 215 230 224 163 268 199 141 103 88 52 0.00
Other Current Liabilities		 1.90 1.90 1.90 1.50 1.20 0.80 1.90 1.80 1.70 1.80 30
Total Noncurrent Liabilities		 382 313 284 362 332 305 127 142 135 145 30
Long-Term Debt		 0.90 0.90 0.80 0.70 0.70 0.60 0.50 0.50 0.40 0.30 0.30
Noncurrent Deferred Revenue		 379 311 282 361 331 305 118 134 127 138 0.00
Other Noncurrent Operating Liabilities		 2.10 1.60 1.10 0.40 0.20 0.10 8.10 7.60 7.20 6.30 30
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 511 464 457 610 600 586 660 609 564 387 562
Total Preferred & Common Equity		 511 464 457 610 600 586 660 609 564 387 562
Preferred Stock		 - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 511 464 457 610 600 586 660 609 564 387 562
Common Stock		 1,571 1,590 1,644 2,016 2,041 2,068 2,107 2,118 2,128 2,149 2,156
Retained Earnings		 -1,047 -1,114 -1,178 -1,402 -1,437 -1,487 -1,449 -1,510 -1,545 -1,670 -1,501
Treasury Stock		 - - - - - - - - -20 -92 -92
Accumulated Other Comprehensive Income / (Loss)		 -13 -12 -9.20 -4.40 -3.80 4.10 1.50 1.00 1.40 -0.40 -0.80

Annual Metrics And Ratios for Arvinas

This table displays calculated financial ratios and metrics derived from Arvinas' official financial filings.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 32,350,972.00 33,748,982.00 40,548,985.00 52,871,645.00 - - - 64,224,294.00
DEI Adjusted Shares Outstanding		 0.00 32,350,972.00 33,748,982.00 40,548,985.00 52,871,645.00 - - - 64,224,294.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -7.41 -2.07 -2.94 -3.61 - - - -1.26
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% 89.00% 200.20% -39.77% 106.95% 145.15% -40.26% 235.54% -0.30%
EBITDA Growth		 0.00% -80.08% -10.90% -137.18% -50.66% -45.39% -66.32% 35.89% 53.66%
EBIT Growth		 0.00% -81.37% -14.14% -136.93% -56.61% -41.47% -53.12% 37.15% 53.02%
NOPAT Growth		 0.00% -76.90% -17.57% -134.56% -55.96% -39.70% -52.55% 37.68% 52.64%
Net Income Growth		 0.00% -72.48% -69.48% -69.70% -60.10% -47.91% -30.02% 45.85% 59.38%
EPS Growth		 0.00% -68.77% 91.63% -41.78% -26.49% -39.01% -24.67% 58.16% 58.84%
Operating Cash Flow Growth		 0.00% -415.22% -151.90% -120.94% 723.63% -148.89% -27.17% 25.45% -5.59%
Free Cash Flow Firm Growth		 0.00% 0.00% -62.16% -180.94% 707.08% -149.27% -15.93% 5.16% -1.72%
Invested Capital Growth		 0.00% -26.91% -6.49% 14.92% -1,559.68% 12.48% 6.08% 21.23% 47.37%
Revenue Q/Q Growth		 0.00% 0.00% 3.56% 5.71% 101.38% 3.63% -50.78% 63.50% -15.91%
EBITDA Q/Q Growth		 0.00% 0.00% -9.54% -15.44% -2.57% -15.13% -30.61% 29.25% -14.85%
EBIT Q/Q Growth		 0.00% 0.00% -10.95% -15.23% -4.91% -12.01% -29.03% 29.73% -16.57%
NOPAT Q/Q Growth		 0.00% 0.00% -12.75% -15.70% -4.63% -11.86% -28.85% 29.99% -16.18%
Net Income Q/Q Growth		 0.00% 0.00% -7.60% -20.70% -6.34% -11.88% -24.34% 35.55% -38.12%
EPS Q/Q Growth		 0.00% 0.00% -102.44% -17.05% 0.26% -11.32% -19.93% 42.17% -40.74%
Operating Cash Flow Q/Q Growth		 0.00% -166.34% -10.62% -16.66% -1.19% -14.92% -3.54% -0.39% 16.40%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -7.39% -2.60% -8.72% 1.77% -16.38% 19.46%
Invested Capital Q/Q Growth		 0.00% 0.00% 3.98% -7.13% 0.83% 1.35% -10.97% 10.82% -12.70%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 -314.49% -299.65% -110.70% -435.91% -317.35% -188.20% -523.95% -100.11% -46.53%
Operating Margin		 -326.70% -305.80% -119.77% -466.41% -351.49% -200.30% -511.47% -94.99% -45.13%
EBIT Margin		 -319.31% -306.43% -116.51% -458.30% -346.83% -200.15% -512.99% -96.09% -45.28%
Profit (Net Income) Margin		 -317.32% -289.59% -163.49% -460.62% -356.34% -214.99% -467.90% -75.51% -30.77%
Tax Burden Percent		 100.00% 100.00% 154.17% 103.56% 103.75% 112.55% 100.93% 100.30% 100.37%
Interest Burden Percent		 99.38% 94.50% 91.02% 97.05% 99.03% 95.44% 90.37% 78.35% 67.70%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -9,781.27% -60.59% -38.70% -27.46% -26.83% -41.96% -59.97% -32.56% -16.23%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -36.20% -32.99% -20.00% -23.30% -16.17% -18.45% -31.30% -21.13% -13.14%
Return on Assets (ROA)		 -35.98% -31.17% -28.07% -23.41% -16.62% -19.82% -28.55% -16.60% -8.93%
Return on Common Equity (ROCE)		 2,436,050.44% -33.38% -38.70% -27.46% -26.83% -41.96% -59.97% -32.56% -16.23%
Return on Equity Simple (ROE_SIMPLE)		 39.27% -30.35% -31.01% -18.58% -24.43% -50.01% -55.65% -35.41% 0.00%
Net Operating Profit after Tax (NOPAT)		 -17 -31 -36 -85 -132 -184 -281 -175 -83
NOPAT Margin		 -228.69% -214.06% -83.84% -326.49% -246.04% -140.21% -358.03% -66.49% -31.59%
Net Nonoperating Expense Percent (NNEP)		 -17.28% -9.64% -14.75% -7.20% -5.36% -7.20% -6.97% -2.06% 0.25%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - -32.56% -42.53% -31.15% -19.10%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 46.79% 90.28% 63.49% 147.88% 114.93% 60.58% 127.77% 62.79% 36.52%
R&D to Revenue		 379.91% 315.51% 156.28% 418.53% 336.57% 239.73% 483.69% 132.19% 108.61%
Operating Expenses to Revenue		 426.70% 405.80% 219.77% 566.41% 451.49% 300.30% 611.47% 194.99% 145.13%
Earnings before Interest and Taxes (EBIT)		 -24 -44 -50 -119 -186 -263 -403 -253 -119
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -24 -43 -48 -113 -170 -247 -411 -264 -122
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 0.00 3.04 6.12 5.36 5.56 3.22 3.43 2.35 1.76
Price to Tangible Book Value (P/TBV)		 0.00 3.04 6.12 5.36 5.56 3.22 3.43 2.35 1.76
Price to Revenue (P/Rev)		 15.83 29.02 32.25 132.97 81.02 13.86 28.85 5.00 2.90
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 18.82 16.06 25.76 106.46 52.92 4.65 12.73 1.06 0.29
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 27.89 0.00 0.00 0.00 5.07 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 5.06 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 1.26 0.02 0.01 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.61 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -158.06 -1.64 -1.28 -1.11 -1.55 -2.03 -2.02 -1.89 -1.73
Leverage Ratio		 271.89 1.94 1.38 1.17 1.61 2.12 2.10 1.96 1.82
Compound Leverage Factor		 270.19 1.84 1.25 1.14 1.60 2.02 1.90 1.54 1.23
Debt to Total Capital		 55.80% 1.55% 0.87% 0.31% 0.13% 0.18% 0.12% 0.11% 0.09%
Short-Term Debt to Total Capital		 28.63% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 27.17% 1.44% 0.87% 0.31% 0.13% 0.18% 0.12% 0.11% 0.09%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 11,052.52% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -11,008.32% 98.45% 99.13% 99.69% 99.87% 99.82% 99.88% 99.89% 99.91%
Debt to EBITDA		 -0.01 -0.05 -0.04 -0.02 -0.01 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 1.63 4.33 5.86 6.08 8.85 4.89 3.08 3.94 5.61
Long-Term Debt to EBITDA		 -0.01 -0.05 -0.04 -0.02 -0.01 0.00 0.00 0.00 0.00
Debt to NOPAT		 -0.02 -0.07 -0.06 -0.02 -0.01 -0.01 0.00 0.00 0.00
Net Debt to NOPAT		 2.24 6.06 7.74 8.12 11.42 6.57 4.50 5.93 8.26
Long-Term Debt to NOPAT		 -0.01 -0.07 -0.06 -0.02 -0.01 -0.01 0.00 0.00 0.00
Altman Z-Score		 -0.45 2.25 9.99 27.10 3.28 0.80 0.66 -0.08 -0.78
Noncontrolling Interest Sharing Ratio		 25,005.26% 44.90% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 3.67 8.52 8.86 14.29 5.93 4.20 4.98 4.64 4.92
Quick Ratio		 3.65 8.39 8.75 14.17 5.84 4.11 4.93 4.58 4.85
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -20 -33 -92 561 -276 -320 -304 -309
Operating Cash Flow to CapEx		 505.03% -569.40% -644.44% -1,401.56% 11,902.13% -4,022.06% -11,993.10% -15,252.94% -14,410.53%
Free Cash Flow to Firm to Interest Expense		 0.00 -352.90 -328.70 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 101.54 -280.60 -406.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 81.43 -329.88 -469.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.11 0.11 0.17 0.05 0.05 0.09 0.06 0.22 0.29
Accounts Receivable Turnover		 0.29 0.92 7.60 3.53 3.14 7.80 10.33 25.21 26.13
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 5.83 5.87 7.14 2.50 4.29 10.07 6.31 28.48 43.05
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 1,254.11 395.89 48.01 103.45 116.11 46.81 35.34 14.48 13.97
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 1,254.11 395.89 48.01 103.45 116.11 46.81 35.34 14.48 13.97
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 -39 -49 -52 -44 -737 -645 -606 -477 -251
Invested Capital Turnover		 -0.20 -0.33 -0.85 -0.54 -0.14 -0.19 -0.13 -0.49 -0.72
Increase / (Decrease) in Invested Capital		 0.00 -10 -3.18 7.79 -693 92 39 129 226
Enterprise Value (EV)		 143 230 1,108 2,757 2,837 611 999 278 77
Market Capitalization		 120 416 1,387 3,444 4,343 1,821 2,265 1,317 762
Book Value per Share		 ($32.27) $4.22 $6.72 $15.84 $14.78 $10.61 $11.99 $8.17 $6.76
Tangible Book Value per Share		 ($32.27) $4.22 $6.72 $15.84 $14.78 $10.61 $11.99 $8.17 $6.76
Total Capital		 0.56 139 229 644 783 566 661 562 434
Total Debt		 0.31 2.15 2.00 2.00 1.00 1.00 0.80 0.60 0.40
Total Long-Term Debt		 0.15 2.00 2.00 2.00 1.00 1.00 0.80 0.60 0.40
Net Debt		 -39 -186 -279 -687 -1,506 -1,210 -1,266 -1,039 -685
Capital Expenditures (CapEx)		 1.01 2.83 6.30 6.40 4.70 6.80 2.90 1.70 1.90
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 8.66 -15 -23 -35 -216 -266 -243 -202 -127
Debt-free Net Working Capital (DFNWC)		 48 173 258 654 1,291 945 1,023 838 558
Net Working Capital (NWC)		 48 173 258 654 1,291 945 1,023 838 558
Net Nonoperating Expense (NNE)		 6.72 11 34 35 59 98 86 24 -2.15
Net Nonoperating Obligations (NNO)		 -39 -186 -279 -687 -1,519 -1,210 -1,266 -1,039 -685
Total Depreciation and Amortization (D&A)		 0.37 0.97 2.50 5.80 16 16 -8.60 -11 -3.30
Debt-free, Cash-free Net Working Capital to Revenue		 114.29% -104.55% -53.04% -133.98% -403.54% -202.21% -310.06% -76.65% -48.44%
Debt-free Net Working Capital to Revenue		 631.14% 1,206.74% 600.16% 2,524.71% 2,408.21% 719.25% 1,303.31% 317.96% 212.57%
Net Working Capital to Revenue		 629.04% 1,205.66% 600.16% 2,524.71% 2,408.21% 719.25% 1,303.31% 317.96% 212.57%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 ($3.02) ($3.82) ($5.31) ($6.62) ($2.77) ($1.14)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 48.87M 50M 53.20M 55.50M 71.90M 70.90M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($3.02) ($3.82) ($5.31) ($6.62) ($2.77) ($1.14)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 48.87M 50M 53.20M 55.50M 71.90M 70.90M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($3.02) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 39.53M 53.05M 53.27M 68.08M 68.77M 63.96M
Normalized Net Operating Profit after Tax (NOPAT)		 -17 -31 -36 -85 -132 -184 -281 -175 -83
Normalized NOPAT Margin		 -228.69% -214.06% -83.84% -326.49% -246.04% -140.21% -358.03% -66.49% -31.59%
Pre Tax Income Margin		 -317.32% -289.59% -106.05% -444.79% -343.47% -191.02% -463.57% -75.28% -30.66%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 -480.57 -764.16 -501.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -344.19 -533.80 -360.50 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -500.68 -813.44 -564.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -364.29 -583.08 -423.50 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -8.25% -0.85% -23.22% -2.41% 0.00% -4.63% 0.00% -113.74%

Quarterly Metrics And Ratios for Arvinas

This table displays calculated financial ratios and metrics derived from Arvinas' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - 68,771,867.00 72,991,390.00 73,417,595.00 64,224,294.00 63,960,997.00 64,521,198.00
DEI Adjusted Shares Outstanding		 - - - - - 68,771,867.00 72,991,390.00 73,417,595.00 64,224,294.00 63,960,997.00 64,521,198.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - 1.21 -0.84 -0.48 -1.05 -0.90 2.63
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -213.72% -22.15% 40.37% 195.95% 237.36% 646.25% -70.72% -59.08% -83.95% -91.74% 1,014.73%
EBITDA Growth		 -132.05% 3.56% 32.23% 14.42% 64.34% 183.28% -43.27% 30.78% -25.58% -188.92% 327.21%
EBIT Growth		 -121.12% 6.19% 34.85% 14.89% 64.75% 185.71% -47.74% 30.37% -28.40% -189.50% 328.55%
NOPAT Growth		 -119.23% 5.02% 34.99% 18.40% 64.85% 222.15% -47.42% 27.36% -28.40% -162.70% 427.49%
Net Income Growth		 -86.73% 15.26% 47.15% 23.13% 70.87% 219.45% -73.86% 28.66% -49.45% -169.48% 376.80%
EPS Growth		 -70.97% 37.01% 60.80% 42.37% 76.23% 217.53% -71.43% 29.41% -52.38% -178.95% 407.14%
Operating Cash Flow Growth		 -16.71% -6.91% 156.71% -50.94% -1.20% 8.82% -289.66% 53.83% 63.85% 22.16% 49.37%
Free Cash Flow Firm Growth		 -7.00% 27.51% 121.03% 66.79% -9.27% -75.52% -1,519.36% -546.78% -64.36% 40.74% 81.49%
Invested Capital Growth		 6.08% 8.53% -11.25% 1.98% 21.23% 47.11% 61.02% 58.36% 47.37% 23.69% 97.85%
Revenue Q/Q Growth		 -224.57% 158.70% 202.37% 33.86% -42.19% 218.92% -88.14% 87.05% -77.33% 64.21% 1,500.64%
EBITDA Q/Q Growth		 -122.02% 48.82% 40.83% -27.29% 7.50% 219.54% -201.80% 38.50% -67.26% 15.08% 360.12%
EBIT Q/Q Growth		 -123.82% 49.64% 41.66% -29.42% 7.31% 222.47% -200.56% 39.00% -70.32% 14.34% 356.81%
NOPAT Q/Q Growth		 -123.68% 49.61% 41.78% -24.33% 3.65% 275.14% -170.27% 38.74% -70.32% 14.48% 467.01%
Net Income Q/Q Growth		 -141.88% 55.17% 49.28% -39.77% 8.33% 283.81% -173.82% 42.65% -92.02% 14.54% 394.10%
EPS Q/Q Growth		 -124.58% 63.40% 49.48% -38.78% 7.35% 280.95% -173.68% 42.86% -100.00% 6.25% 386.67%
Operating Cash Flow Q/Q Growth		 2.00% -17.33% 151.59% -354.47% 34.30% -5.71% -7.31% 38.05% 48.56% -127.63% 30.20%
Free Cash Flow Firm Q/Q Growth		 2.96% 28.40% 128.18% -269.63% -219.32% -15.01% -127.85% 22.70% 18.85% 58.54% 28.84%
Invested Capital Q/Q Growth		 -10.97% 6.82% -14.26% 17.04% 10.82% 37.43% 15.78% 11.38% -12.70% 9.28% 97.63%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.00% -342.69% -67.06% -63.77% -102.03% 38.24% -328.13% -107.88% -795.79% -411.54% 66.88%
Operating Margin		 0.00% -329.25% -63.40% -58.89% -98.14% 37.82% -319.20% -104.53% -785.26% -408.97% 65.72%
EBIT Margin		 0.00% -329.25% -63.53% -61.43% -98.48% 37.82% -320.54% -104.53% -785.26% -409.62% 65.72%
Profit (Net Income) Margin		 0.00% -274.31% -46.01% -48.05% -76.18% 43.91% -273.21% -83.77% -709.47% -369.23% 67.84%
Tax Burden Percent		 101.04% 100.14% 100.57% 101.23% 99.34% 99.76% 99.51% 100.86% 100.15% 100.17% 99.88%
Interest Burden Percent		 92.62% 83.19% 72.02% 77.27% 77.87% 116.39% 85.65% 79.45% 90.21% 89.98% 103.35%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.24% 0.00% 0.00% 0.00% 0.00% 0.12%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -59.97% -63.32% -60.80% -59.16% -32.56% -7.34% -12.01% -10.17% -16.23% -42.28% 1.59%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% -19.66% -5.02% -8.89% -21.65% 14.59% -109.18% -32.46% -227.94% -44.43% 26.27%
Return on Assets (ROA)		 0.00% -16.38% -3.63% -6.96% -16.75% 16.94% -93.06% -26.01% -205.94% -40.05% 27.12%
Return on Common Equity (ROCE)		 -59.97% -63.32% -60.80% -59.16% -32.56% -7.34% -12.01% -10.17% -16.23% -42.28% 1.59%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -58.19% -53.88% -52.66% 0.00% -7.06% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -116 -58 -34 -42 -41 71 -50 -31 -52 -45 164
NOPAT Margin		 0.00% -230.47% -44.38% -41.22% -68.70% 37.73% -223.44% -73.17% -549.68% -286.28% 65.64%
Net Nonoperating Expense Percent (NNEP)		 -3.16% -0.96% -0.11% -0.66% -0.38% 1.09% -1.06% -0.47% -1.76% -1.65% 0.77%
Return On Investment Capital (ROIC_SIMPLE)		 -17.51% - - - -7.23% 10.78% -8.21% -5.43% -12.02% -11.54% 29.14%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 96.05% 40.92% 74.02% 57.43% 14.09% 112.95% 50.12% 242.11% 122.44% 9.61%
R&D to Revenue		 0.00% 333.20% 122.48% 84.86% 140.71% 48.09% 306.25% 154.42% 643.16% 386.54% 21.07%
Operating Expenses to Revenue		 0.00% 429.25% 163.40% 158.89% 198.14% 62.18% 419.20% 204.53% 885.26% 508.97% 34.28%
Earnings before Interest and Taxes (EBIT)		 -165 -83 -49 -63 -58 71 -72 -44 -75 -64 164
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -169 -87 -51 -65 -60 72 -74 -45 -76 -64 167
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.43 3.73 3.04 2.89 2.35 0.73 0.88 1.11 1.76 1.75 0.95
Price to Tangible Book Value (P/TBV)		 3.43 3.73 3.04 2.89 2.35 0.73 0.88 1.11 1.76 1.75 0.95
Price to Revenue (P/Rev)		 28.85 31.86 19.52 10.50 5.00 1.13 1.44 2.00 2.90 7.58 1.69
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 57.65
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.73%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 12.73 15.39 6.30 3.54 1.06 0.00 0.00 0.00 0.29 0.71 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -2.02 -2.05 -2.15 -2.04 -1.89 -1.68 -1.74 -1.66 -1.73 -1.50 -1.22
Leverage Ratio		 2.10 2.13 2.22 2.13 1.96 1.74 1.81 1.75 1.82 1.57 1.35
Compound Leverage Factor		 1.95 1.77 1.60 1.65 1.53 2.03 1.55 1.39 1.64 1.42 1.40
Debt to Total Capital		 0.12% 0.11% 0.12% 0.10% 0.11% 0.08% 0.08% 0.07% 0.09% 0.08% 0.05%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.12% 0.11% 0.12% 0.10% 0.11% 0.08% 0.08% 0.07% 0.09% 0.08% 0.05%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 99.88% 99.89% 99.88% 99.90% 99.89% 99.92% 99.92% 99.93% 99.91% 99.92% 99.95%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.02
Net Debt to EBITDA		 3.08 2.88 3.21 3.01 3.94 9.36 6.95 7.40 5.61 2.38 31.36
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.02
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.01 -0.01 -0.01 0.00 0.00 -0.02
Net Debt to NOPAT		 4.50 4.22 4.75 4.48 5.93 14.27 10.38 11.03 8.26 3.46 33.72
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.01 -0.01 -0.01 0.00 0.00 -0.02
Altman Z-Score		 1.26 1.41 0.84 0.82 0.51 0.40 -0.14 -0.05 -0.58 -1.28 2.02
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.98 4.94 3.62 4.17 4.64 4.58 5.64 5.70 4.92 5.44 7.91
Quick Ratio		 4.93 4.89 3.57 4.12 4.58 4.50 5.53 5.62 4.85 5.36 7.54
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -155 -111 31 -53 -169 -195 -444 -343 -278 -115 -82
Operating Cash Flow to CapEx		 -83,100.00% -97,500.00% 7,185.71% -18,285.71% -28,033.33% -22,225.00% -7,950.00% -59,100.00% -15,200.00% -5,323.08% -24,150.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.06 0.06 0.08 0.14 0.22 0.39 0.34 0.31 0.29 0.11 0.40
Accounts Receivable Turnover		 10.33 12.08 12.61 9.10 25.21 55.08 35.34 15.01 26.13 12.08 9.69
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 6.31 5.99 8.11 16.52 28.48 49.93 46.89 51.20 43.05 14.66 57.06
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 35.34 30.20 28.95 40.10 14.48 6.63 10.33 24.31 13.97 30.21 37.69
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 35.34 30.20 28.95 40.10 14.48 6.63 10.33 24.31 13.97 30.21 37.69
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -606 -564 -645 -535 -477 -299 -251 -223 -251 -228 -5.40
Invested Capital Turnover		 -0.13 -0.12 -0.15 -0.30 -0.49 -0.99 -0.83 -0.82 -0.72 -0.34 -2.47
Increase / (Decrease) in Invested Capital		 39 53 -65 11 129 266 394 312 226 71 246
Enterprise Value (EV)		 999 1,097 588 570 278 -471 -323 -162 77 63 -31
Market Capitalization		 2,265 2,271 1,822 1,691 1,317 483 537 626 762 678 536
Book Value per Share		 $11.99 $8.50 $8.77 $8.54 $8.17 $9.60 $8.35 $7.69 $6.76 $6.05 $8.71
Tangible Book Value per Share		 $11.99 $8.50 $8.77 $8.54 $8.17 $9.60 $8.35 $7.69 $6.76 $6.05 $8.71
Total Capital		 661 610 601 587 562 661 610 565 434 387 563
Total Debt		 0.80 0.70 0.70 0.60 0.60 0.50 0.50 0.40 0.40 0.30 0.30
Total Long-Term Debt		 0.80 0.70 0.70 0.60 0.60 0.50 0.50 0.40 0.40 0.30 0.30
Net Debt		 -1,266 -1,174 -1,234 -1,121 -1,039 -954 -861 -787 -685 -615 -568
Capital Expenditures (CapEx)		 0.10 0.10 0.70 0.70 0.30 0.40 1.20 0.10 0.20 1.30 0.20
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -243 -225 -325 -248 -202 -189 -130 -106 -127 -100 1.80
Debt-free Net Working Capital (DFNWC)		 1,023 950 910 874 838 766 732 681 558 515 570
Net Working Capital (NWC)		 1,023 950 910 874 838 766 732 681 558 515 570
Net Nonoperating Expense (NNE)		 39 11 1.25 6.99 4.43 -12 11 4.44 15 13 -5.49
Net Nonoperating Obligations (NNO)		 -1,266 -1,174 -1,245 -1,121 -1,039 -959 -861 -787 -685 -615 -568
Total Depreciation and Amortization (D&A)		 -4.00 -3.40 -2.70 -2.40 -2.10 0.80 -1.70 -1.40 -1.00 -0.30 2.90
Debt-free, Cash-free Net Working Capital to Revenue		 -310.06% -315.99% -348.02% -153.94% -76.65% -44.18% -34.74% -34.01% -48.44% -111.97% 0.57%
Debt-free Net Working Capital to Revenue		 1,303.31% 1,331.70% 974.81% 542.27% 317.96% 179.36% 196.27% 218.19% 212.57% 575.84% 179.89%
Net Working Capital to Revenue		 1,303.31% 1,331.70% 974.81% 542.27% 317.96% 179.36% 196.27% 218.19% 212.57% 575.84% 179.89%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($2.65) ($0.97) ($0.49) ($0.68) ($0.63) $1.14 ($0.84) ($0.48) ($0.96) ($0.90) $2.61
Adjusted Weighted Average Basic Shares Outstanding		 55.50M 71.70M 71.90M 72.10M 71.90M 72.50M 73M 73.20M 70.90M 64M 64.80M
Adjusted Diluted Earnings per Share		 ($2.65) ($0.97) ($0.49) ($0.68) ($0.63) $1.14 ($0.84) ($0.48) ($0.96) ($0.90) $2.58
Adjusted Weighted Average Diluted Shares Outstanding		 55.50M 71.70M 71.90M 72.10M 71.90M 72.70M 73M 73.20M 70.90M 64M 65.70M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 68.08M 68.43M 68.65M 68.71M 68.77M 72.99M 73.42M 64.22M 63.96M 64.52M 65.39M
Normalized Net Operating Profit after Tax (NOPAT)		 -116 -58 -34 -42 -41 71 -50 -31 -52 -45 164
Normalized NOPAT Margin		 0.00% -230.47% -44.38% -41.22% -68.70% 37.73% -223.44% -73.17% -549.68% -286.28% 65.64%
Pre Tax Income Margin		 0.00% -273.91% -45.75% -47.46% -76.69% 44.01% -274.55% -83.05% -708.42% -368.59% 67.92%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -4.63% 0.00% 0.00% -5.15% 0.00% 0.00% 0.00% -30.43% -113.74% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Arvinas’ Q2 2026 results show a sharp improvement in reported profitability, but the quarter also highlights the volatility of its revenue and cash flow. Revenue increased to $249.7 million from $15.6 million in Q1 2026 and $22.4 million in Q2 2025. The company reported net income of $169.4 million, compared with losses of $57.6 million in Q1 2026 and $61.2 million in Q2 2025. Because Arvinas’ revenue has fluctuated considerably from quarter to quarter, investors should determine how much of this improvement is recurring before assigning a valuation based on Q2 earnings alone.

Arvinas maintained a substantial liquidity position. At June 30, 2026, it held $94.3 million in cash and $473.6 million in short-term investments, or approximately $567.9 million in immediately available funds. Total liabilities were $112.9 million, including only $0.3 million of long-term debt. However, operating cash flow remained negative, meaning the company continues to rely on its cash and investment portfolio while funding research and development.

  • Q2 revenue and profitability improved substantially: Revenue reached $249.7 million and net income was $169.4 million, a significant improvement from the losses recorded in the preceding quarters.
  • Operating expenses were relatively controlled in Q2: Total operating expenses of $85.6 million were below the $93.9 million recorded in Q2 2025, while research and development spending declined to $52.6 million from $68.6 million.
  • Liquidity remains strong: Cash and short-term investments totaled approximately $567.9 million at the end of Q2 2026, providing funding for clinical development and other operating needs.
  • Debt is minimal: Long-term debt was only $0.3 million, leaving Arvinas with limited interest-rate and refinancing risk.
  • Operating cash burn improved sequentially: Cash used in operating activities narrowed to $48.3 million in Q2 2026 from $69.2 million in Q1 2026 and $59.1 million in Q3 2025.
  • Share count has declined from late 2025 levels: Basic weighted-average shares fell to 64.8 million in Q2 2026 from 70.9 million in Q4 2025, helped in part by the company’s prior share repurchase activity.
  • Investment income is supporting results: Arvinas reported $5.5 million of interest and investment income in Q2 2026. This provides some support, but it is not a substitute for sustainable operating profitability.
  • Investment portfolio movements drive cash-flow volatility: Arvinas generated $54.9 million from investing activities in Q2, primarily because proceeds from investment sales and maturities exceeded purchases. These transactions reflect portfolio management rather than recurring operating cash generation.
  • Operating cash flow remains negative: Despite the Q2 net profit, Arvinas used $48.3 million in operating cash. A $199.7 million negative change in operating assets and liabilities was the main drag on cash flow, underscoring the difference between reported earnings and cash generation.
  • Revenue remains highly uneven and the accumulated deficit is substantial: Quarterly revenue has ranged from $9.5 million to $249.7 million in the supplied periods, while retained earnings remained negative at approximately $1.50 billion in Q2 2026. Investors should be cautious about extrapolating Q2’s unusually strong revenue and earnings into future quarters.

Overall, Arvinas’ balance sheet provides a meaningful financial cushion, and Q2 2026 demonstrated that the company can produce substantial quarterly revenue and earnings. The key investment question is whether those results represent a durable shift or a milestone-driven, nonrecurring quarter. Continued positive operating cash flow and more consistent revenue would provide stronger evidence of improving financial quality.

10/12/26 09:06 AM ETAI Generated. May Contain Errors.

Arvinas Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Arvinas' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Arvinas' net income appears to be on a downward trend, with a most recent value of -$80.80 million in 2025, falling from -$24.05 million in 2017. The previous period was -$198.90 million in 2024. View Arvinas' forecast to see where analysts expect Arvinas to go next.

Arvinas' total operating income in 2025 was -$118.50 million, based on the following breakdown:
  • Total Gross Profit: $262.60 million
  • Total Operating Expenses: $381.10 million

Over the last 8 years, Arvinas' total revenue changed from $7.58 million in 2017 to $262.60 million in 2025, a change of 3,364.9%.

In the past 13 quarters, Arvinas' cash and equivalents has ranged from $81 million in Q1 2025 to $154.80 million in Q2 2024, and is currently $94.30 million as of their latest financial filing in Q2 2026.

Arvinas had total debt of $400 thousand at the end of 2025, a 33.3% decrease from 2024, and a 28.9% increase since 2017.

Over the last 8 years, Arvinas' book value per share changed from -32.27 in 2017 to 6.76 in 2025.


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Financial statements for NASDAQ:ARVN last updated on 8/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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