Arcus Biosciences (RCUS) Financials

$17.32 +0.54 (+3.22%)

Closing price 10/24/2025 03:59 PM Eastern

Extended Trading

$17.55 +0.22 (+1.29%)

As of 10/24/2025 06:06 PM Eastern

Annual Income Statements for Arcus Biosciences

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-18	-53	-50	-85	-123	53	-267	-307	-283
Consolidated Net Income / (Loss)	-18	-53	-50	-85	-123	53	-267	-307	-283
Net Income / (Loss) Continuing Operations	-18	-53	-50	-85	-123	53	-267	-307	-283
Total Pre-Tax Income	-18	-53	-50	-85	-123	55	-266	-301	-282
Total Operating Income	-18	-53	-55	-89	-124	54	-280	-340	-330
Total Gross Profit	0.00	1.41	8.35	15	78	383	112	117	258
Total Revenue	0.00	1.41	8.35	15	78	383	112	117	258
Operating Revenue	0.00	1.41	8.35	15	78	383	112	117	258
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	18	55	63	104	202	329	392	457	588
Selling, General & Admin Expense	3.94	7.64	14	25	43	72	104	117	120
Research & Development Expense	14	47	50	78	159	257	288	340	448
Impairment Charge	-	-	-	-	-	-	-	-	20
Total Other Income / (Expense), net	0.21	0.36	5.27	4.00	1.00	1.00	14	39	48
Interest Expense	-	-	-	-	0.00	0.00	2.00	2.00	4.00
Interest & Investment Income	0.21	-0.42	0.34	-1.20	-	-	-	-	52
Income Tax Expense	-	-	-	0.00	0.00	2.00	1.00	6.00	1.00
Basic Earnings per Share	($20.80)	-	-	-	-	-	($3.71)	($4.15)	($3.14)
Weighted Average Basic Shares Outstanding	863.98K	1.83M	34.62M	43.83M	54.80M	69.30M	72M	74M	90.10M
Diluted Earnings per Share	($20.80)	-	-	-	-	-	($3.71)	($4.15)	($3.14)
Weighted Average Diluted Shares Outstanding	863.98K	1.83M	34.62M	43.83M	54.80M	74M	72M	74M	90.10M
Weighted Average Basic & Diluted Shares Outstanding	863.98K	1.83M	34.62M	43.83M	54.79M	71.06M	73.01M	90.86M	105.84M

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-65	-67	-80	-75	-71	-81	-4.00	-93	-92	-94	-112
Consolidated Net Income / (Loss)	-65	-67	-80	-75	-71	-81	-4.00	-93	-92	-94	-112
Net Income / (Loss) Continuing Operations	-65	-67	-80	-75	-71	-81	-4.00	-93	-92	-94	-112
Total Pre-Tax Income	-65	-67	-78	-74	-69	-80	-4.00	-93	-92	-93	-112
Total Operating Income	-70	-74	-86	-83	-80	-91	-16	-106	-105	-103	-122
Total Gross Profit	33	34	25	29	32	31	145	39	48	26	28
Total Revenue	33	34	25	29	32	31	145	39	48	26	28
Operating Revenue	33	34	25	29	32	31	145	39	48	26	28
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	103	108	111	112	112	122	161	145	153	129	150
Selling, General & Admin Expense	26	28	30	28	30	29	32	30	30	28	28
Research & Development Expense	77	80	81	84	82	93	109	115	123	101	122
Total Other Income / (Expense), net	5.00	7.00	8.00	9.00	11	11	12	13	13	10	10
Interest Expense	0.00	1.00	1.00	0.00	1.00	-	1.00	0.00	1.00	2.00	1.00
Other Income / (Expense), net	5.00	8.00	9.00	9.00	12	11	-	13	14	-	11
Income Tax Expense	0.00	-	2.00	1.00	2.00	1.00	0.00	0.00	0.00	1.00	0.00
Basic Earnings per Share	-	-	($1.09)	($1.04)	($0.94)	($1.08)	($0.05)	($1.02)	($1.00)	($1.07)	($1.14)
Weighted Average Basic Shares Outstanding	72.20M	72M	73M	73.20M	74.60M	74M	86.20M	91.10M	91.40M	90.10M	98.40M
Diluted Earnings per Share	-	-	($1.09)	($1.04)	($0.94)	($1.08)	($0.05)	($1.02)	($1.00)	($1.07)	($1.14)
Weighted Average Diluted Shares Outstanding	72.20M	72M	73M	73.20M	74.60M	74M	86.20M	91.10M	91.40M	90.10M	98.40M
Weighted Average Basic & Diluted Shares Outstanding	72.41M	73.01M	73.11M	74.50M	74.86M	90.86M	90.95M	91.43M	91.51M	105.84M	105.89M

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	18	33	-27	-13	116	-23	58	-79	23
Net Cash From Operating Activities	-13	-25	-43	-73	111	-256	438	-306	-170
Net Cash From Continuing Operating Activities	-13	-25	-43	-73	111	-256	438	-306	-170
Net Income / (Loss) Continuing Operations	-18	-53	-50	-85	-123	53	-267	-307	-283
Consolidated Net Income / (Loss)	-18	-53	-50	-85	-123	53	-267	-307	-283
Depreciation Expense	1.31	2.61	3.66	3.58	3.00	4.00	6.00	8.00	10
Amortization Expense	0.00	0.00	-1.75	-2.64	0.00	5.00	0.00	-19	-25
Non-Cash Adjustments To Reconcile Net Income	0.09	0.81	5.32	12	22	41	777	96	131
Changes in Operating Assets and Liabilities, net	3.62	25	-0.29	-1.50	209	-359	-78	-84	-3.00
Net Cash From Investing Activities	-39	-49	-113	59	-434	-4.00	-413	194	-84
Net Cash From Continuing Investing Activities	-39	-49	-113	59	-434	-4.00	-413	194	-84
Purchase of Property, Plant & Equipment	-4.10	-5.51	-3.74	-1.93	-3.00	-26	-6.00	-24	-6.00
Purchase of Investments	-34	-97	-262	-248	-740	-719	-1,241	-788	-1,043
Sale and/or Maturity of Investments	0.00	53	152	309	309	741	837	1,006	965
Other Investing Activities, net	-1.00	-	-	-	0.00	0.00	-3.00	0.00	0.00
Net Cash From Financing Activities	70	107	129	1.12	439	237	33	33	277
Net Cash From Continuing Financing Activities	70	107	129	1.12	439	237	33	33	277
Issuance of Debt	-	-	-	-	-	-	0.00	0.00	47
Issuance of Common Equity	0.28	0.89	129	1.22	439	232	23	33	237
Other Financing Activities, net	0.00	-0.37	-	-	0.00	5.00	10	0.00	-7.00
Cash Interest Paid	-	-	-	-	-	-	0.00	0.00	1.00
Cash Income Taxes Paid	-	-	-	-	0.00	0.00	3.00	5.00	0.00

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-55	-12	32	-8.00	-46	-57	58	-29	45	-51	42
Net Cash From Operating Activities	-81	-70	-98	-57	-63	-88	-2.00	-94	26	-100	-132
Net Cash From Continuing Operating Activities	-81	-70	-98	-57	-63	-88	-2.00	-94	26	-100	-132
Net Income / (Loss) Continuing Operations	-65	-67	-80	-75	-71	-81	-4.00	-93	-92	-94	-112
Consolidated Net Income / (Loss)	-65	-67	-80	-75	-71	-81	-4.00	-93	-92	-94	-112
Depreciation Expense	2.00	1.00	2.00	2.00	1.00	3.00	3.00	2.00	2.00	3.00	3.00
Amortization Expense	-	-2.00	-4.00	-4.00	1.00	-12	-6.00	-7.00	-6.00	-6.00	-4.00
Non-Cash Adjustments To Reconcile Net Income	25	7.00	27	18	10	41	55	29	32	15	23
Changes in Operating Assets and Liabilities, net	-43	-9.00	-43	2.00	-4.00	-39	-50	-25	90	-18	-42
Net Cash From Investing Activities	23	47	129	26	11	28	-169	63	-29	51	32
Net Cash From Continuing Investing Activities	23	47	129	26	11	28	-169	63	-29	51	32
Purchase of Property, Plant & Equipment	-2.00	-	-3.00	-5.00	-10	-6.00	-4.00	-	-1.00	-1.00	-1.00
Purchase of Investments	-322	-156	-154	-239	-280	-115	-387	-206	-278	-172	-353
Sale and/or Maturity of Investments	344	203	286	270	301	149	222	269	250	224	386
Net Cash From Financing Activities	3.00	11	1.00	23	6.00	3.00	229	2.00	48	-2.00	142
Net Cash From Continuing Financing Activities	3.00	11	1.00	23	6.00	3.00	229	2.00	48	-2.00	142
Issuance of Common Equity	3.00	6.00	1.00	23	6.00	3.00	229	3.00	2.00	3.00	142

This table presents Arcus Biosciences' 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
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
Total Assets	190	275	203	772	1,592	1,345	1,095	1,150
Total Current Assets	177	259	193	736	1,262	1,067	831	1,016
Cash & Equivalents	98	71	58	173	148	206	127	150
Short-Term Investments	77	185	130	555	351	803	632	828
Prepaid Expenses	1.14	2.32	4.05	5.47	18	19	34	18
Other Current Assets	-	0.00	0.13	1.05	745	39	38	20
Plant, Property, & Equipment, net	11	11	9.33	11	32	35	51	47
Total Noncurrent Assets	2.39	4.87	1.08	26	298	243	213	87
Long-Term Investments	0.68	4.38	0.00	6.44	182	129	107	14
Other Noncurrent Operating Assets	1.71	0.49	1.08	19	116	114	106	73
Total Liabilities & Shareholders' Equity	190	275	203	772	1,592	1,345	1,095	1,150
Total Liabilities	37	40	39	270	750	688	633	665
Total Current Liabilities	13	17	23	122	166	193	184	226
Accounts Payable	3.82	3.10	4.70	16	10	20	17	18
Current Deferred Revenue	5.00	6.25	7.00	75	102	97	91	85
Other Current Liabilities	0.77	1.56	1.48	3.57	54	76	76	123
Total Noncurrent Liabilities	24	23	17	148	584	495	449	439
Long-Term Debt	-	-	-	-	-	-	0.00	48
Noncurrent Deferred Revenue	23	21	16	133	462	355	307	234
Other Noncurrent Operating Liabilities	0.57	1.79	0.81	16	122	140	142	157
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-72	235	164	502	842	657	462	485
Total Preferred & Common Equity	-72	235	164	502	842	657	462	485
Total Common Equity	-72	235	164	502	842	657	462	485
Common Stock	0.95	358	369	830	1,118	1,206	1,311	1,617
Retained Earnings	-73	-123	-205	-328	-275	-542	-849	-1,132

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

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	1,477	1,394	1,254	1,220	1,191	1,293	1,186	1,252	1,156
Total Current Assets	1,227	1,101	1,015	986	882	1,064	1,022	1,127	1,031
Cash & Equivalents	273	218	238	230	184	185	156	201	192
Short-Term Investments	900	831	716	700	615	810	813	888	805
Prepaid Expenses	16	22	28	22	31	34	25	22	19
Other Current Assets	36	27	33	34	52	35	28	16	15
Plant, Property, & Equipment, net	33	34	37	45	50	51	49	48	46
Total Noncurrent Assets	216	259	202	189	259	178	115	77	79
Long-Term Investments	98	143	90	80	151	100	40	2.00	8.00
Other Noncurrent Operating Assets	118	116	112	109	108	78	75	75	71
Total Liabilities & Shareholders' Equity	1,477	1,394	1,254	1,220	1,191	1,293	1,186	1,252	1,156
Total Liabilities	729	695	654	654	671	586	551	687	625
Total Current Liabilities	164	177	179	180	200	204	199	215	192
Accounts Payable	22	11	28	12	17	16	15	13	22
Current Deferred Revenue	90	103	97	103	103	124	113	105	72
Other Current Liabilities	2.47	2.98	54	65	80	64	71	97	98
Total Noncurrent Liabilities	565	518	475	474	471	382	352	472	433
Long-Term Debt	-	-	-	-	-	-	-	47	48
Noncurrent Deferred Revenue	429	383	330	330	326	242	214	289	219
Other Noncurrent Operating Liabilities	136	135	145	144	145	140	138	136	166
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	747	699	600	566	520	707	635	565	531
Total Preferred & Common Equity	747	699	600	566	520	707	635	565	531
Total Common Equity	747	699	600	566	520	707	635	565	531
Common Stock	1,165	1,183	1,226	1,267	1,291	1,561	1,582	1,602	1,775
Retained Earnings	-410	-475	-622	-697	-768	-853	-946	-1,038	-1,244

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	491.15%	79.58%	420.00%	391.03%	-70.76%	4.46%	120.51%
EBITDA Growth	0.00%	-196.74%	4.05%	-71.93%	-45.33%	153.33%	-503.13%	-20.16%	-11.29%
EBIT Growth	0.00%	-189.66%	5.18%	-67.23%	-47.29%	144.72%	-580.00%	-13.26%	-10.37%
NOPAT Growth	0.00%	-193.92%	-2.65%	-61.70%	-39.78%	159.95%	-476.66%	-21.43%	2.94%
Net Income Growth	0.00%	-195.39%	6.57%	-70.81%	-45.20%	143.09%	-603.77%	-14.98%	7.82%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-11.86%	24.34%
Operating Cash Flow Growth	0.00%	-93.60%	-71.58%	-70.86%	251.10%	-330.63%	271.09%	-169.86%	44.44%
Free Cash Flow Firm Growth	0.00%	0.00%	-134.58%	-82.21%	290.96%	-381.15%	230.51%	-170.63%	44.13%
Invested Capital Growth	0.00%	0.00%	-15.40%	5.99%	-852.93%	169.16%	-398.76%	16.01%	-13.61%
Revenue Q/Q Growth	0.00%	0.00%	3.88%	120.20%	0.28%	898.62%	-74.11%	-2.50%	-1.90%
EBITDA Q/Q Growth	0.00%	0.00%	8.23%	-5.64%	-40.96%	123.51%	-374.03%	-7.64%	-19.79%
EBIT Q/Q Growth	0.00%	0.00%	8.74%	-5.86%	-40.41%	119.75%	-416.02%	-4.91%	-23.60%
NOPAT Q/Q Growth	0.00%	0.00%	-0.26%	-4.78%	-38.16%	126.66%	-371.12%	-5.26%	-3.77%
Net Income Q/Q Growth	0.00%	0.00%	1.81%	-5.35%	-40.41%	119.03%	-435.69%	-4.78%	-4.81%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-111.78%	-3.33%	-26.77%	-4.87%	-1.81%	-6.25%	-7.59%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-3.50%	-23.13%	-45.36%	22.28%	-8.88%	-1.38%
Invested Capital Q/Q Growth	0.00%	0.00%	-18.18%	-23.66%	3.30%	180.19%	2.48%	6.05%	4.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	0.00%	-3,542.39%	-574.94%	-550.45%	-153.85%	16.71%	-230.36%	-264.96%	-133.72%
Operating Margin	0.00%	-3,782.09%	-656.76%	-591.39%	-158.97%	14.10%	-250.00%	-290.60%	-127.91%
EBIT Margin	0.00%	-3,727.25%	-597.83%	-556.72%	-157.69%	14.36%	-235.71%	-255.56%	-127.91%
Profit (Net Income) Margin	0.00%	-3,756.69%	-593.73%	-564.73%	-157.69%	13.84%	-238.39%	-262.39%	-109.69%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	96.36%	100.38%	101.99%	100.35%
Interest Burden Percent	98.83%	100.79%	99.31%	101.44%	100.00%	100.00%	100.76%	100.67%	85.45%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	3.64%	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)	0.00%	-34.50%	-25.51%	-42.48%	-36.93%	7.89%	-35.62%	-54.87%	-59.77%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-212.26%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-27.65%	-21.46%	-34.94%	-25.22%	4.65%	-17.98%	-24.51%	-29.40%
Return on Assets (ROA)	0.00%	-27.87%	-21.31%	-35.44%	-25.22%	4.48%	-18.18%	-25.16%	-25.21%
Return on Common Equity (ROCE)	0.00%	16.22%	-10.67%	-42.48%	-36.93%	7.89%	-35.62%	-54.87%	-59.77%
Return on Equity Simple (ROE_SIMPLE)	0.00%	73.39%	-21.11%	-51.70%	-24.49%	6.29%	-40.64%	-66.45%	-58.35%
Net Operating Profit after Tax (NOPAT)	-13	-37	-38	-62	-87	52	-196	-238	-231
NOPAT Margin	0.00%	-2,647.47%	-459.73%	-413.98%	-111.28%	13.59%	-175.00%	-203.42%	-89.53%
Net Nonoperating Expense Percent (NNEP)	0.00%	-17.77%	-5.12%	-10.07%	-7.84%	0.14%	-7.81%	-6.89%	-5.75%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-29.83%	-51.52%	-43.34%
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	0.00%	540.41%	162.41%	168.19%	55.13%	18.80%	92.86%	100.00%	46.51%
R&D to Revenue	0.00%	3,341.68%	594.35%	523.21%	203.85%	67.10%	257.14%	290.60%	173.64%
Operating Expenses to Revenue	0.00%	3,882.09%	756.76%	691.39%	258.97%	85.90%	350.00%	390.60%	227.91%
Earnings before Interest and Taxes (EBIT)	-18	-53	-50	-84	-123	55	-264	-299	-330
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-17	-50	-48	-83	-120	64	-258	-310	-345
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	2.04	2.83	3.36	3.38	2.28	3.09	2.81
Price to Tangible Book Value (P/TBV)	0.00	0.00	2.04	2.83	3.36	3.38	2.28	3.09	2.81
Price to Revenue (P/Rev)	0.00	84.93	57.32	30.88	21.61	7.42	13.37	12.22	5.28
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	53.64	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%	1.86%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	13.43	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	120.18	26.08	18.33	12.18	5.64	3.21	4.82	1.62
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	33.78	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	39.31	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	41.55	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	8.56	0.00	0.82	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	7.82	0.00	0.81	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	0.10
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.10
Financial Leverage	0.00	-1.15	-1.12	-1.13	-1.39	-1.05	-1.21	-1.79	-1.91
Leverage Ratio	0.00	1.24	1.20	1.20	1.46	1.76	1.96	2.18	2.37
Compound Leverage Factor	0.00	1.25	1.19	1.22	1.46	1.76	1.97	2.20	2.03
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.01%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.01%
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	0.00%	147.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-47.01%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	90.99%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.14
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.74
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.14
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.21
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.09
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.21
Altman Z-Score	0.00	1.56	7.05	5.38	3.68	3.21	0.96	0.18	-0.05
Noncontrolling Interest Sharing Ratio	0.00%	147.01%	58.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	13.90	15.29	8.49	6.05	7.60	5.53	4.52	4.50
Quick Ratio	0.00	13.81	15.15	8.30	5.99	3.01	5.23	4.13	4.33
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-15	-35	-64	122	-342	446	-315	-176
Operating Cash Flow to CapEx	-315.78%	-454.46%	-1,148.70%	-3,816.21%	3,700.00%	-984.62%	7,300.00%	-1,275.00%	-2,833.33%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	223.00	-157.50	-44.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	219.00	-153.00	-42.50
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	216.00	-165.00	-44.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.01	0.04	0.06	0.16	0.32	0.08	0.10	0.23
Accounts Receivable Turnover	0.00	56.52	154.69	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.13	0.75	1.47	7.75	17.89	3.34	2.72	5.27
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)	0.00	6.46	2.36	0.00	0.00	0.00	0.00	0.00	0.00
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)	0.00	6.46	2.36	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	-23	-26	-24	-233	161	-481	-404	-459
Invested Capital Turnover	0.00	-0.13	-0.34	-0.60	-0.61	-10.67	-0.70	-0.26	-0.60
Increase / (Decrease) in Invested Capital	0.00	-23	-3.47	1.56	-208	394	-642	77	-55
Enterprise Value (EV)	0.00	170	218	275	950	2,162	359	564	419
Market Capitalization	120	120	479	463	1,685	2,843	1,497	1,430	1,363
Book Value per Share	$0.00	($39.56)	$5.29	$3.57	$7.74	$11.99	$9.07	$6.17	$5.30
Tangible Book Value per Share	$0.00	($39.56)	$5.29	$3.57	$7.74	$11.99	$9.07	$6.17	$5.30
Total Capital	0.00	154	235	164	502	842	657	462	533
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	48
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	48
Net Debt	0.00	-176	-261	-188	-735	-681	-1,138	-866	-944
Capital Expenditures (CapEx)	4.10	5.51	3.74	1.93	3.00	26	6.00	24	6.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-12	-15	-18	-115	597	-135	-112	-188
Debt-free Net Working Capital (DFNWC)	0.00	164	242	170	614	1,096	874	647	790
Net Working Capital (NWC)	0.00	164	242	170	614	1,096	874	647	790
Net Nonoperating Expense (NNE)	5.24	16	11	23	36	-0.96	71	69	52
Net Nonoperating Obligations (NNO)	0.00	-176	-261	-188	-735	-681	-1,138	-866	-944
Total Depreciation and Amortization (D&A)	1.31	2.61	1.91	0.94	3.00	9.00	6.00	-11	-15
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-818.12%	-173.96%	-121.81%	-146.79%	155.87%	-120.54%	-95.73%	-72.87%
Debt-free Net Working Capital to Revenue	0.00%	11,616.63%	2,897.32%	1,133.33%	787.37%	286.16%	780.36%	552.99%	306.20%
Net Working Capital to Revenue	0.00%	11,616.63%	2,897.32%	1,133.33%	787.37%	286.16%	780.36%	552.99%	306.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($3.14)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	44.53M	45.97M	70.88M	69.35M	72M	74M	90.10M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($3.14)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	44.53M	45.97M	70.88M	73.97M	72M	74M	90.10M
Adjusted Basic & Diluted Earnings per Share	$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	0.00	0.00	34.62M	43.83M	54.79M	71.06M	73.01M	90.86M	105.84M
Normalized Net Operating Profit after Tax (NOPAT)	-13	-37	-38	-62	-87	52	-196	-238	-217
Normalized NOPAT Margin	0.00%	-2,647.47%	-459.73%	-413.98%	-111.28%	13.59%	-175.00%	-203.42%	-84.11%
Pre Tax Income Margin	0.00%	-3,756.69%	-593.73%	-564.73%	-157.69%	14.36%	-237.50%	-257.27%	-109.30%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-132.00	-149.50	-82.50
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-98.00	-119.00	-57.75
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-135.00	-161.50	-84.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-101.00	-131.00	-59.25
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%	0.00%	-0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	248.80%	-90.41%	38.89%	7.41%	-3.03%	-8.82%	480.00%	34.48%	50.00%	-16.13%	-80.69%
EBITDA Growth	16.69%	-123.50%	-23.44%	-18.75%	-4.76%	-32.84%	92.41%	-28.95%	-43.94%	-19.10%	-489.47%
EBIT Growth	16.64%	-123.44%	-14.93%	-12.12%	-4.62%	-21.21%	96.10%	-25.68%	-33.82%	-28.75%	-593.75%
NOPAT Growth	10.41%	-118.56%	-28.36%	-20.29%	-14.29%	-22.97%	81.40%	-27.71%	-31.25%	-13.19%	-662.50%
Net Income Growth	16.64%	-123.97%	-17.65%	-11.94%	-9.23%	-20.90%	95.00%	-24.00%	-29.58%	-16.05%	-2,700.00%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	95.41%	1.92%	-6.38%	0.93%	-2,180.00%
Operating Cash Flow Growth	-50.68%	-13.03%	-114.98%	12.31%	22.22%	-25.71%	97.96%	-64.91%	141.27%	-13.64%	-6,500.00%
Free Cash Flow Firm Growth	357.23%	614.29%	-158.11%	-150.14%	-148.97%	-123.84%	58.52%	-4.63%	79.45%	87.85%	29.46%
Invested Capital Growth	-145.67%	-398.76%	18.65%	15.22%	12.82%	16.01%	12.61%	15.77%	-11.40%	-13.61%	-9.79%
Revenue Q/Q Growth	22.22%	3.03%	-26.47%	16.00%	10.34%	-3.13%	367.74%	-73.10%	23.08%	-45.83%	7.69%
EBITDA Q/Q Growth	1.56%	-6.35%	-17.91%	3.80%	13.16%	-34.85%	92.77%	-1,533.33%	3.06%	-11.58%	-5.66%
EBIT Q/Q Growth	1.52%	-1.54%	-16.67%	3.90%	8.11%	-17.65%	96.25%	-3,000.00%	2.15%	-13.19%	-7.77%
NOPAT Q/Q Growth	-1.45%	-5.71%	-16.22%	3.49%	3.61%	-13.75%	82.42%	-562.50%	0.94%	1.90%	-18.45%
Net Income Q/Q Growth	2.99%	-3.08%	-19.40%	6.25%	5.33%	-14.08%	95.06%	-2,225.00%	1.08%	-2.17%	-19.15%
EPS Q/Q Growth	0.00%	0.00%	0.00%	4.59%	9.62%	-14.89%	0.00%	-1,940.00%	1.96%	-7.00%	-6.54%
Operating Cash Flow Q/Q Growth	-24.62%	13.58%	-40.00%	41.84%	-10.53%	-39.68%	97.73%	-4,600.00%	127.66%	-484.62%	-32.00%
Free Cash Flow Firm Q/Q Growth	-11.43%	142.43%	-127.45%	14.92%	13.50%	-18.02%	52.24%	-114.58%	83.01%	30.20%	-177.19%
Invested Capital Q/Q Growth	5.82%	2.48%	7.69%	0.00%	3.15%	6.05%	3.96%	3.61%	-28.07%	4.18%	7.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-190.91%	-197.06%	-316.00%	-262.07%	-206.25%	-287.10%	-4.14%	-251.28%	-197.92%	-407.69%	-400.00%
Operating Margin	-212.12%	-217.65%	-344.00%	-286.21%	-250.00%	-293.55%	-11.03%	-271.79%	-218.75%	-396.15%	-435.71%
EBIT Margin	-196.97%	-194.12%	-308.00%	-255.17%	-212.50%	-258.06%	-2.07%	-238.46%	-189.58%	-396.15%	-396.43%
Profit (Net Income) Margin	-196.97%	-197.06%	-320.00%	-258.62%	-221.88%	-261.29%	-2.76%	-238.46%	-191.67%	-361.54%	-400.00%
Tax Burden Percent	100.00%	100.00%	102.56%	101.35%	102.90%	101.25%	100.00%	100.00%	100.00%	101.08%	100.00%
Interest Burden Percent	100.00%	101.52%	101.30%	100.00%	101.47%	100.00%	133.33%	100.00%	101.10%	90.29%	100.90%
Effective Tax Rate	0.00%	0.00%	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%	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)	12.82%	-35.62%	-39.95%	-43.70%	-48.08%	-54.87%	-35.35%	-41.47%	-49.77%	-59.77%	-63.17%
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)	-76.32%	-14.81%	-26.20%	-22.90%	-19.73%	-24.75%	-0.39%	-48.96%	-40.82%	-91.05%	-45.65%
Return on Assets (ROA)	-76.32%	-15.03%	-27.23%	-23.21%	-20.60%	-25.06%	-0.51%	-48.96%	-41.27%	-83.10%	-46.06%
Return on Common Equity (ROCE)	12.82%	-35.62%	-39.95%	-43.70%	-48.08%	-54.87%	-35.35%	-41.47%	-49.77%	-59.77%	-63.17%
Return on Equity Simple (ROE_SIMPLE)	11.38%	0.00%	-46.50%	-50.71%	-56.35%	0.00%	-32.67%	-39.21%	-47.79%	0.00%	-73.63%
Net Operating Profit after Tax (NOPAT)	-49	-52	-60	-58	-56	-64	-11	-74	-74	-72	-85
NOPAT Margin	-148.48%	-152.35%	-240.80%	-200.34%	-175.00%	-205.48%	-7.72%	-190.26%	-153.13%	-277.31%	-305.00%
Net Nonoperating Expense Percent (NNEP)	-1.65%	-1.67%	-1.66%	-1.48%	-1.40%	-1.73%	0.67%	-1.86%	-1.86%	-2.42%	-2.59%
Return On Investment Capital (ROIC_SIMPLE)	-	-7.88%	-	-	-	-13.79%	-	-	-	-13.53%	-14.75%
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	78.79%	82.35%	120.00%	96.55%	93.75%	93.55%	22.07%	76.92%	62.50%	107.69%	100.00%
R&D to Revenue	233.33%	235.29%	324.00%	289.66%	256.25%	300.00%	75.17%	294.87%	256.25%	388.46%	435.71%
Operating Expenses to Revenue	312.12%	317.65%	444.00%	386.21%	350.00%	393.55%	111.03%	371.79%	318.75%	496.15%	535.71%
Earnings before Interest and Taxes (EBIT)	-65	-66	-77	-74	-68	-80	-3.00	-93	-91	-103	-111
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-63	-67	-79	-76	-66	-89	-6.00	-98	-95	-106	-112
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.70	2.28	2.22	2.62	2.57	3.09	2.00	2.18	2.47	2.81	1.56
Price to Tangible Book Value (P/TBV)	2.70	2.28	2.22	2.62	2.57	3.09	2.00	2.18	2.47	2.81	1.56
Price to Revenue (P/Rev)	4.36	13.37	11.19	12.27	11.14	12.22	5.96	5.61	5.32	5.28	5.89
Price to Earnings (P/E)	23.72	0.00	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%	0.00%	0.00%
Earnings Yield	4.22%	0.00%	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	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	1.61	3.21	2.42	3.92	3.23	4.82	1.34	1.52	1.35	1.62	0.00
Enterprise Value to EBITDA (EV/EBITDA)	7.39	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)	8.33	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)	9.62	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)	1.56	0.82	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)	1.91	0.81	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	0.08	0.10	0.09
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.08	0.10	0.09
Financial Leverage	-1.56	-1.21	-1.71	-1.74	-1.76	-1.79	-1.64	-1.68	-1.84	-1.91	-1.66
Leverage Ratio	1.80	1.96	2.00	2.05	2.12	2.18	1.95	2.00	2.25	2.37	1.98
Compound Leverage Factor	1.80	1.99	2.03	2.05	2.15	2.18	2.60	2.00	2.28	2.14	2.00
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.68%	9.01%	8.29%
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.68%	9.01%	8.29%
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	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	92.32%	90.99%	91.71%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.16	-0.14	-0.11
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.63	2.74	2.13
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.16	-0.14	-0.11
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.21	-0.21	-0.16
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.69	4.09	3.14
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.21	-0.21	-0.16
Altman Z-Score	2.10	1.44	1.22	1.25	0.89	0.84	1.50	1.17	0.90	0.60	-0.03
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	6.21	5.53	5.67	5.48	4.41	4.52	5.22	5.14	5.24	4.50	5.37
Quick Ratio	5.94	5.23	5.33	5.17	4.00	4.13	4.88	4.87	5.07	4.33	5.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	243	590	-162	-138	-119	-141	-67	-144	-25	-17	-47
Operating Cash Flow to CapEx	-4,050.00%	0.00%	-3,266.67%	-1,140.00%	-630.00%	-1,466.67%	-50.00%	0.00%	2,600.00%	-10,000.00%	-13,200.00%
Free Cash Flow to Firm to Interest Expense	0.00	590.20	-161.99	0.00	-119.22	0.00	-67.20	0.00	-24.50	-8.55	-47.40
Operating Cash Flow to Interest Expense	0.00	-70.00	-98.00	0.00	-63.00	0.00	-2.00	0.00	26.00	-50.00	-132.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	-70.00	-101.00	0.00	-73.00	0.00	-6.00	0.00	25.00	-50.50	-133.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.39	0.08	0.09	0.09	0.09	0.10	0.19	0.21	0.22	0.23	0.12
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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	13.80	3.34	3.38	3.09	2.86	2.72	5.39	5.26	5.37	5.27	2.91
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)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-493	-481	-444	-444	-430	-404	-388	-374	-479	-459	-426
Invested Capital Turnover	-1.25	-0.70	-0.24	-0.25	-0.26	-0.26	-0.57	-0.60	-0.58	-0.60	-0.35
Increase / (Decrease) in Invested Capital	-292	-642	102	80	63	77	56	70	-49	-55	-38
Enterprise Value (EV)	696	359	288	475	387	564	318	376	354	419	-126
Market Capitalization	1,888	1,497	1,332	1,485	1,337	1,430	1,413	1,385	1,398	1,363	831
Book Value per Share	$9.68	$9.07	$8.22	$7.74	$6.98	$6.17	$8.20	$6.98	$6.18	$5.30	$5.02
Tangible Book Value per Share	$9.68	$9.07	$8.22	$7.74	$6.98	$6.17	$8.20	$6.98	$6.18	$5.30	$5.02
Total Capital	699	657	600	566	520	462	707	635	612	533	579
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	47	48	48
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	47	48	48
Net Debt	-1,192	-1,138	-1,044	-1,010	-950	-866	-1,095	-1,009	-1,044	-944	-957
Capital Expenditures (CapEx)	2.00	0.00	3.00	5.00	10	6.00	4.00	0.00	1.00	1.00	1.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-125	-135	-118	-124	-117	-112	-135	-146	-177	-188	-158
Debt-free Net Working Capital (DFNWC)	924	874	836	806	682	647	860	823	912	790	839
Net Working Capital (NWC)	924	874	836	806	682	647	860	823	912	790	839
Net Nonoperating Expense (NNE)	16	15	20	17	15	17	-7.20	19	19	22	27
Net Nonoperating Obligations (NNO)	-1,192	-1,138	-1,044	-1,010	-950	-866	-1,095	-1,009	-1,044	-944	-957
Total Depreciation and Amortization (D&A)	2.00	-1.00	-2.00	-2.00	2.00	-9.00	-3.00	-5.00	-4.00	-3.00	-1.00
Debt-free, Cash-free Net Working Capital to Revenue	-28.86%	-120.54%	-99.16%	-102.48%	-97.50%	-95.73%	-56.96%	-59.11%	-67.30%	-72.87%	-112.06%
Debt-free Net Working Capital to Revenue	213.57%	780.36%	702.52%	666.12%	568.33%	552.99%	362.87%	333.20%	346.77%	306.20%	595.04%
Net Working Capital to Revenue	213.57%	780.36%	702.52%	666.12%	568.33%	552.99%	362.87%	333.20%	346.77%	306.20%	595.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($1.08)	($0.05)	($1.02)	($1.00)	($1.07)	($1.14)
Adjusted Weighted Average Basic Shares Outstanding	72.24M	72M	73M	73.20M	74.60M	74M	86.20M	91.10M	91.40M	90.10M	98.40M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($1.08)	($0.05)	($1.02)	($1.00)	($1.07)	($1.14)
Adjusted Weighted Average Diluted Shares Outstanding	72.24M	72M	73M	73.20M	74.60M	74M	86.20M	91.10M	91.40M	90.10M	98.40M
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	72.41M	73.01M	73.11M	74.50M	74.86M	90.86M	90.95M	91.43M	91.51M	105.84M	105.89M
Normalized Net Operating Profit after Tax (NOPAT)	-49	-52	-60	-58	-56	-64	2.80	-74	-74	-72	-85
Normalized NOPAT Margin	-148.48%	-152.35%	-240.80%	-200.34%	-175.00%	-205.48%	1.93%	-190.26%	-153.13%	-277.31%	-305.00%
Pre Tax Income Margin	-196.97%	-197.06%	-312.00%	-255.17%	-215.63%	-258.06%	-2.76%	-238.46%	-191.67%	-357.69%	-400.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-66.00	-77.00	0.00	-68.00	0.00	-3.00	0.00	-91.00	-51.50	-111.00
NOPAT to Interest Expense	0.00	-51.80	-60.20	0.00	-56.00	0.00	-11.20	0.00	-73.50	-36.05	-85.40
EBIT Less CapEx to Interest Expense	0.00	-66.00	-80.00	0.00	-78.00	0.00	-7.00	0.00	-92.00	-52.00	-112.00
NOPAT Less CapEx to Interest Expense	0.00	-51.80	-63.20	0.00	-66.00	0.00	-15.20	0.00	-74.50	-36.55	-86.40
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Arcus Biosciences (NYSE: RCUS) Financial Overview and Trends:

Reviewing the last four years of quarterly financial statements reveals several key trends and important financial metrics for Arcus Biosciences.

Operating Revenue showed some growth over the period, from $27M in Q2 2022 to a peak of $145M in Q1 2024, though the latest quarters show more volatility, with Q1 2025 at $28M.
Total gross profit is equal to operating revenue each quarter, indicating no cost of revenue reported, suggesting a service or licensing business model rather than product sales.
Arcus has a significant cash & equivalents and short-term investments balance, reaching $1.03B in current assets by Q1 2025, providing strong liquidity to fund operations.
The company regularly invests heavily in property, plant & equipment (~$33M-$51M across quarters), indicating commitment to infrastructure or development capabilities.
Other income, such as investment or interest income, contributes positively (~$7M to $14M per quarter), somewhat offsetting operating losses.
Interest expense is relatively low (around $1M to $2M quarterly), indicating modest debt levels and cost of borrowing.
Arcus raises capital by issuing common equity frequently, with proceeds ranging from $1M to $229M quarterly, pointing to continued financing reliant on equity markets.
The company has sustained significant net losses each quarter, with Q1 2025 net loss of $112M and similar magnitudes in preceding quarters (often exceeding $80M - $90M losses).
Research & Development expense is very high and growing, from $70M Q2 2022 up to $123M by Q3 2024 and $122M in Q1 2025, contributing substantially to operating losses.
Selling, General & Administrative expenses remain steady around $28M to $32M quarterly but add pressure to overall expenses.

Summary:

Arcus Biosciences is in a growth and development phase characterized by strong operating revenues largely from non-product sources, heavy and increasing investment in R&D, and consistent operating losses. The company finances its operations through equity raises and maintains a very strong cash position, supported by substantial short-term and long-term investments. Despite the losses, the healthy liquidity and investment income partially offset risks.

Retail investors should note the company's continued reliance on capital markets and the significant R&D spend that may pay off in future new drug developments or product launches, though short-term profitability remains distant. Monitoring cash burn and equity financing trends will be critical to assessing Arcus Biosciences' financial health in upcoming quarters.

10/26/25 03:21 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Arcus Biosciences' Financials

When does Arcus Biosciences' financial year end?

According to the most recent income statement we have on file, Arcus Biosciences' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Arcus Biosciences' net income changed over the last 8 years?

Arcus Biosciences' net income appears to be on an upward trend, with a most recent value of -$283 million in 2024, rising from -$17.97 million in 2016. The previous period was -$307 million in 2023. See where experts think Arcus Biosciences is headed by visiting Arcus Biosciences' forecast page.

What is Arcus Biosciences' operating income?

Arcus Biosciences' total operating income in 2024 was -$330 million, based on the following breakdown:

Total Gross Profit: $258 million
Total Operating Expenses: $588 million

How has Arcus Biosciences' revenue changed over the last 8 years?

Over the last 8 years, Arcus Biosciences' total revenue changed from $0.00 in 2016 to $258 million in 2024, a change of 25,800,000,000.0%.

How much debt does Arcus Biosciences have?

Arcus Biosciences' total liabilities were at $665 million at the end of 2024, a 5.1% increase from 2023, and a 1,716.0% increase since 2017.

How much cash does Arcus Biosciences have?

In the past 7 years, Arcus Biosciences' cash and equivalents has ranged from $57.94 million in 2019 to $206 million in 2022, and is currently $150 million as of their latest financial filing in 2024.

How has Arcus Biosciences' book value per share changed over the last 8 years?

Over the last 8 years, Arcus Biosciences' book value per share changed from 0.00 in 2016 to 5.30 in 2024, a change of 530.0%.

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This page (NYSE:RCUS) was last updated on 10/26/2025 by MarketBeat.com Staff

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Arcus Biosciences (RCUS) Financials

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Arcus Biosciences (RCUS) Financials

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