NASDAQ : ARVN
Arvinas, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 7.86 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 513.94M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Arvinas, Inc. (ARVN) reported revenue of 316.70M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 316.70M | 262.60M | 263.40M | 78.50M | 131.40M | 53.60M |
| Gross Profit | 307.70M | 262.60M | 263.40M | 78.50M | 131.40M | 53.60M |
| Selling, General & Admin | 84.00M | 94.60M | 165.40M | 100.30M | 79.60M | 61.60M |
| Research & Development | 236.50M | 282.90M | 348.20M | 379.70M | 315.00M | 180.40M |
| Operating Expenses | 320.50M | 377.50M | 513.60M | 480.00M | 394.60M | 242.00M |
| Operating Income | -12.80M | -114.90M | -250.20M | -401.50M | -263.20M | -188.40M |
| Interest & Investment Income | 28.30M | 38.40M | 54.80M | 38.80M | 12.00M | 1.80M |
| Earnings From Equity Investments | -2.50M | -10.60M | -6.90M | |||
| Other Non Operating Income (Expenses) | 2.30M | 2.00M | -2.90M | -300.00K | 600.00K | 2.70M |
| EBT Excluding Unusual Items | 17.80M | -74.50M | -198.30M | -365.50M | -261.20M | -190.80M |
| Merger & Restructuring Charges | -5.30M | -3.60M | ||||
| Gain (Loss) on Sale of Investments | -900.00K | -400.00K | -200.00K | |||
| Gain (Loss) on Sale of Assets | -2.40M | -2.40M | ||||
| Pretax Income | 10.10M | -80.50M | -198.30M | -366.40M | -261.60M | -191.00M |
| Income Tax Expense | 800.00K | 300.00K | 600.00K | 900.00K | 20.90M | |
| Net Income | 9.30M | -80.80M | -198.90M | -367.30M | -282.50M | -191.00M |
| Net Income to Common | 9.30M | -80.80M | -198.90M | -367.30M | -282.50M | -191.00M |
| Shares Outstanding (Basic) | 66.70M | 70.90M | 71.90M | 55.50M | 53.20M | 50.00M |
| Shares Outstanding (Diluted) | 67.25M | 70.90M | 71.90M | 55.50M | 53.20M | 50.00M |
| EPS (Basic) | 0.14 | -1.14 | -2.77 | -6.62 | -5.31 | -3.82 |
| EPS (Diluted) | 0.13 | -1.14 | -2.77 | -6.62 | -5.31 | -3.82 |
| Free Cash Flow | -208.80M | -275.70M | -261.10M | -350.70M | -280.30M | 554.70M |
| Free Cash Flow Per Share | -3.10 | -3.89 | -3.63 | -6.32 | -5.27 | 11.09 |
| Gross Margin | 97.16% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Operating Margin | -4.04% | -43.76% | -94.99% | -511.47% | -200.30% | -351.49% |
| Profit Margin | 2.94% | -30.77% | -75.51% | -467.90% | -214.99% | -356.34% |
| Free Cash Flow Margin | -65.93% | -104.99% | -99.13% | -446.75% | -213.32% | 1,034.89% |
| EBITDA | -9.90M | -111.90M | -245.60M | -396.70M | -256.90M | -183.60M |
| EBITDA Margin | -3.13% | -42.61% | -93.24% | -195.51% | ||
| D&A For EBITDA | 2.90M | 3.00M | 4.60M | 4.80M | 6.30M | 4.80M |
| EBIT | -12.80M | -114.90M | -250.20M | -401.50M | -263.20M | -188.40M |
| EBIT Margin | -4.04% | -43.76% | -94.99% | -200.30% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 94.30M | 142.90M | 100.50M | 311.70M | 81.30M | 108.30M |
| Short-Term Investments | 473.60M | 542.50M | 938.90M | 949.30M | 1.12B | 1.39B |
| Cash & Short-Term Investments | 567.90M | 685.40M | 1.04B | 1.26B | 1.21B | 1.50B |
| Accounts Receivable | 50.30M | 1.00M | 5.70M | 1.00M | 15.00M | |
| Other Receivables | 4.00M | 5.40M | 8.00M | 7.20M | 7.00M | 10.70M |
| Receivables | 54.30M | 6.40M | 13.70M | 7.20M | 8.00M | 25.70M |
| Prepaid Expenses | 30.00M | 8.90M | 14.20M | 6.50M | 21.40M | 19.70M |
| Restricted Cash | 5.50M | 5.50M | 4.50M | |||
| Total Current Assets | 652.20M | 700.70M | 1.07B | 1.28B | 1.24B | 1.55B |
| Property, Plant & Equipment | 12.30M | 13.40M | 16.00M | 14.00M | 17.80M | 16.60M |
| Long-Term Accounts Receivable | 10.60M | 3.50M | 7.80M | 10.40M | 10.80M | 12.50M |
| Other Long-Term Assets | 300.00K | 300.00K | ||||
| Total Assets | 675.10M | 717.90M | 1.09B | 1.30B | 1.27B | 1.58B |
| Accounts Payable | 7.50M | 24.40M | 13.40M | 17.80M | 5.70M | 31.30M |
| Accrued Expenses | 40.40M | 40.30M | 55.20M | 73.70M | 58.70M | 23.10M |
| Current Portion of Leases | 1.90M | 1.70M | 1.80M | 1.90M | 1.80M | 1.10M |
| Current Income Taxes Payable | 4.30M | 4.80M | 3.20M | 700.00K | 10.30M | |
| Current Unearned Revenue | 71.30M | 156.20M | 163.00M | 218.60M | 206.20M | |
| Total Current Liabilities | 82.50M | 142.50M | 229.80M | 257.10M | 295.10M | 261.70M |
| Long-Term Debt | 300.00K | 400.00K | 600.00K | 800.00K | 1.00M | 1.00M |
| Long-Term Leases | 5.80M | 6.80M | 7.30M | 500.00K | 2.70M | 2.90M |
| Long-Term Unearned Revenue | 134.30M | 292.00M | 386.20M | 405.10M | 534.30M | |
| Other Long-Term Liabilities | 24.30M | |||||
| Total Liabilities | 112.90M | 284.00M | 529.70M | 644.60M | 703.90M | 799.90M |
| Common Stock | 100.00K | 100.00K | 100.00K | 100.00K | 100.00K | |
| Additional Paid-In Capital | 2.16B | 2.14B | 2.09B | 2.00B | 1.55B | 1.47B |
| Retained Earnings | -1.50B | -1.61B | -1.53B | -1.33B | -965.40M | -682.90M |
| Treasury Stock | -91.90M | -91.90M | ||||
| Comprehensive Income & Other | -800.00K | 1.20M | 1.00M | -3.10M | -19.20M | -4.60M |
| Total Common Equity | 562.20M | 433.90M | 561.70M | 660.00M | 564.90M | 781.70M |
| Shareholders' Equity | 562.20M | 433.90M | 561.70M | 660.00M | 564.90M | 781.70M |
| Total Liabilities & Equity | 675.10M | 717.90M | 1.09B | 1.30B | 1.27B | 1.58B |
| Total Debt | 8.00M | 8.90M | 9.70M | 3.20M | 5.50M | 5.00M |
| Net Cash (Debt) | 559.90M | 676.50M | 1.03B | 1.26B | 1.20B | 1.50B |
| Net Cash Per Share | 8.33 | 9.54 | 14.32 | 22.66 | 22.55 | 29.95 |
| Filing Date Shares Outstanding | 65.39M | 63.96M | 68.77M | 68.08M | 53.27M | 53.05M |
| Total Common Shares Outstanding | 65.30M | 63.50M | 68.80M | 68.00M | 53.20M | 53.00M |
| Working Capital | 569.70M | 558.20M | 837.50M | 1.02B | 945.10M | 1.29B |
| Book Value Per Share | 8.61 | 6.83 | 8.16 | 9.71 | 10.62 | 14.75 |
| Tangible Book Value | 562.20M | 433.90M | 561.70M | 660.00M | 564.90M | 781.70M |
| Tangible Book Value Per Share | 8.61 | 6.83 | 8.16 | 9.71 | 10.62 | 14.75 |
| Machinery | 25.10M | 24.30M | 23.30M | 21.10M | 19.10M | 15.00M |
| Leasehold Improvements | 9.10M | 9.10M | 9.30M | 11.50M | 10.90M | 8.40M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 9.30M | -80.80M | -198.90M | -367.30M | -282.50M | -191.00M |
| Depreciation & Amortization | 4.80M | 5.20M | 6.60M | 6.70M | 8.20M | 6.00M |
| Loss (Gain) From Sale of Assets | 2.60M | |||||
| Loss (Gain) From Sale of Investments | -8.70M | -12.80M | -21.80M | -15.70M | 6.10M | 9.60M |
| Stock-Based Compensation | 36.70M | 44.00M | 88.20M | 71.60M | 75.50M | 57.10M |
| Other Operating Activities | 4.10M | 4.30M | 4.60M | 1.30M | 1.80M | -600.00K |
| Change in Accounts Receivable | -76.60M | 4.70M | -5.70M | 1.00M | 14.00M | -14.00M |
| Change in Accounts Payable | -1.00M | -1.70M | -21.20M | 17.30M | 20.20M | 27.90M |
| Change in Unearned Revenue | -236.80M | -242.60M | -101.00M | -74.60M | -116.80M | 695.50M |
| Change in Other Net Operating Assets | 61.20M | 5.90M | -12.70M | 11.90M | -31.10M | |
| Operating Cash Flow | -207.00M | -273.80M | -259.30M | -347.80M | -273.50M | 559.40M |
| Capital Expenditures | -1.80M | -1.90M | -1.80M | -2.90M | -6.80M | -4.70M |
| Sale of Property, Plant & Equipment | 100.00K | |||||
| Investment in Securities | 279.70M | 409.50M | 36.40M | 206.40M | 249.60M | -1.31B |
| Investing Cash Flow | 277.90M | 407.60M | 34.70M | 203.50M | 242.80M | -1.31B |
| Long-Term Debt Repaid | -200.00K | -400.00K | ||||
| Net Debt Issued (Repaid) | -300.00K | -200.00K | -400.00K | |||
| Issuance of Common Stock | 700.00K | 700.00K | 8.30M | 391.70M | 4.70M | 283.20M |
| Repurchase of Common Stock | -91.90M | -91.90M | ||||
| Other Financing Activities | -17.00M | -4.60M | ||||
| Financing Cash Flow | -91.50M | -91.40M | 7.90M | 374.70M | 4.70M | 278.60M |
| Net Cash Flow | -20.60M | 42.40M | -216.70M | 230.40M | -26.00M | -475.60M |
| Free Cash Flow | -208.80M | -275.70M | -261.10M | -350.70M | -280.30M | 554.70M |
| Free Cash Flow Margin | -65.93% | -104.99% | -99.13% | -446.75% | -213.32% | 1,034.89% |
| Free Cash Flow Per Share | -3.10 | -3.89 | -3.63 | -6.32 | -5.27 | 11.09 |
| Levered Free Cash Flow | -94.50M | -89.01M | -99.28M | -197.94M | -39.90M | 117.65M |
| Unlevered Free Cash Flow | -94.50M | -89.01M | -99.28M | -197.94M | -39.90M | 117.65M |
| Cash Interest Paid | 100.00K | |||||
| Cash Income Tax Paid | -400.00K | 2.30M | 11.10M | 11.10M | ||
| Change in Working Capital | -253.20M | -233.70M | -140.60M | -44.40M | -82.60M | 678.30M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 513.94M | 761.70M | 1.32B | 2.80B | 1.82B | 4.34B |
| Enterprise Value | -45.96M | -16.60M | 197.13M | 1.80B | 556.11M | 2.80B |
| Last Close Price | 7.86 | 11.86 | 19.17 | 41.16 | 34.21 | 82.14 |
| Forward PE | 143.31 | 143.31 | 143.31 | 143.31 | 143.31 | |
| PS Ratio | 1.62 | 2.90 | 5.00 | 35.65 | 13.86 | 81.02 |
| PB Ratio | 0.91 | 1.75 | 2.35 | 4.24 | 3.22 | 5.56 |
| P/TBV Ratio | 0.91 | 1.75 | 2.35 | 4.24 | 3.22 | 5.56 |
| P/FCF Ratio | 7.83 | |||||
| P/OCF Ratio | 7.76 | |||||
| EV/Sales Ratio | 0.75 | 22.98 | 4.23 | 52.31 | ||
| EV/FCF Ratio | 5.05 | |||||
| Debt / Equity Ratio | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 |
| Debt / FCF Ratio | 0.01 | |||||
| Net Debt / Equity Ratio | -1.00 | -1.56 | -1.83 | -1.91 | -2.12 | -1.92 |
| Net Debt / EBITDA Ratio | 56.56 | 6.05 | 4.19 | 3.17 | 4.67 | 8.16 |
| Net Debt / FCF Ratio | 2.68 | 2.45 | 3.94 | 3.59 | 4.28 | -2.70 |
| Asset Turnover | 0.40 | 0.29 | 0.22 | 0.06 | 0.09 | 0.05 |
| Quick Ratio | 7.54 | 4.86 | 4.58 | 4.93 | 4.11 | 5.84 |
| Current Ratio | 7.91 | 4.92 | 4.64 | 4.98 | 4.20 | 5.93 |
| Return on Equity (ROE) | 1.59% | -16.23% | -32.56% | -59.97% | -41.96% | -26.83% |
| Return on Assets (ROA) | -1.01% | -7.94% | -13.05% | -19.50% | -11.54% | -10.24% |
| Return on Capital Employed (ROCE) | -2.20% | -20.00% | -29.00% | -38.30% | -27.00% | -14.30% |
| Earnings Yield | 1.70% | -10.61% | -15.10% | -13.12% | -15.51% | -4.40% |
| FCF Yield | -40.63% | -36.20% | -19.82% | -12.53% | -15.39% | 12.77% |
| Buyback Yield / Dilution | 7.18% | 1.39% | -29.55% | -4.32% | -6.40% | -26.58% |