NYSE : RCUS
Arcus Biosciences, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 18.61 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.68B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Arcus Biosciences, Inc. (RCUS) reported revenue of 117.00M 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 | 117.00M | 247.00M | 258.00M | 117.00M | 112.00M | 383.00M |
| Cost of Revenue | 497.00M | 523.00M | 448.00M | 340.00M | 288.00M | 257.00M |
| Gross Profit | -380.00M | -276.00M | -190.00M | -223.00M | -176.00M | 126.00M |
| Selling, General & Admin | 106.00M | 110.00M | 120.00M | 117.00M | 104.00M | 72.00M |
| Operating Expenses | 106.00M | 110.00M | 120.00M | 117.00M | 104.00M | 72.00M |
| Operating Income | -486.00M | -386.00M | -310.00M | -340.00M | -280.00M | 54.00M |
| Interest Expense | -11.00M | -8.00M | -4.00M | -2.00M | -2.00M | |
| Interest & Investment Income | 37.00M | 41.00M | 52.00M | 41.00M | 16.00M | 1.00M |
| EBT Excluding Unusual Items | -460.00M | -353.00M | -262.00M | -301.00M | -266.00M | 55.00M |
| Asset Writedown | -20.00M | |||||
| Pretax Income | -460.00M | -353.00M | -282.00M | -301.00M | -266.00M | 55.00M |
| Income Tax Expense | 1.00M | 6.00M | 1.00M | 2.00M | ||
| Net Income | -460.00M | -353.00M | -283.00M | -307.00M | -267.00M | 53.00M |
| Net Income to Common | -460.00M | -353.00M | -283.00M | -307.00M | -267.00M | 53.00M |
| Shares Outstanding (Basic) | 119.10M | 107.40M | 90.10M | 74.00M | 72.00M | 69.30M |
| Shares Outstanding (Diluted) | 119.10M | 107.40M | 90.10M | 74.00M | 72.00M | 74.00M |
| EPS (Basic) | -3.86 | -3.29 | -3.14 | -4.15 | -3.71 | 0.76 |
| EPS (Diluted) | -3.86 | -3.29 | -3.14 | -4.15 | -3.71 | 0.71 |
| Free Cash Flow | -475.00M | -484.00M | -176.00M | -330.00M | 432.00M | -282.00M |
| Free Cash Flow Per Share | -3.99 | -4.51 | -1.95 | -4.46 | 6.00 | -3.81 |
| Gross Margin | -111.74% | -73.64% | -190.60% | -157.14% | 32.90% | |
| Operating Margin | -415.39% | -156.28% | -120.15% | -290.60% | -250.00% | 14.10% |
| Profit Margin | -393.16% | -142.91% | -109.69% | -262.39% | -238.39% | 13.84% |
| Free Cash Flow Margin | -405.98% | -195.95% | -68.22% | -282.05% | 385.71% | -73.63% |
| EBITDA | -476.00M | -376.00M | -300.00M | -332.00M | -274.00M | 58.00M |
| EBITDA Margin | -152.23% | -116.28% | -283.76% | -244.64% | 15.14% | |
| D&A For EBITDA | 10.00M | 10.00M | 10.00M | 8.00M | 6.00M | 4.00M |
| EBIT | -486.00M | -386.00M | -310.00M | -340.00M | -280.00M | 54.00M |
| EBIT Margin | -156.28% | -120.15% | -290.60% | -250.00% | 14.10% | |
| Effective Tax Rate | 3.64% | |||||
| Revenue as Reported | 117.00M | 247.00M | 258.00M | 117.00M | 112.00M | 383.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 150.00M | 222.00M | 150.00M | 127.00M | 206.00M | 148.00M |
| Short-Term Investments | 552.00M | 759.00M | 828.00M | 632.00M | 803.00M | 351.00M |
| Cash & Short-Term Investments | 702.00M | 981.00M | 978.00M | 759.00M | 1.01B | 499.00M |
| Accounts Receivable | 36.00M | 11.00M | 20.00M | 38.00M | 39.00M | 745.00M |
| Other Receivables | 5.00M | 5.00M | 5.00M | 4.00M | 4.00M | 2.00M |
| Receivables | 41.00M | 16.00M | 25.00M | 42.00M | 43.00M | 747.00M |
| Prepaid Expenses | 13.00M | 10.00M | 13.00M | 30.00M | 15.00M | 16.00M |
| Total Current Assets | 756.00M | 1.01B | 1.02B | 831.00M | 1.07B | 1.26B |
| Property, Plant & Equipment | 36.00M | 98.00M | 112.00M | 143.00M | 135.00M | 137.00M |
| Long-Term Investments | 73.00M | 29.00M | 14.00M | 107.00M | 129.00M | 182.00M |
| Other Long-Term Assets | 59.00M | 5.00M | 8.00M | 14.00M | 14.00M | 11.00M |
| Total Assets | 924.00M | 1.14B | 1.15B | 1.09B | 1.34B | 1.59B |
| Accounts Payable | 34.00M | 42.00M | 18.00M | 17.00M | 20.00M | 10.00M |
| Accrued Expenses | 119.00M | 122.00M | 96.00M | 62.00M | 70.00M | 47.00M |
| Current Portion of Leases | 13.00M | 13.00M | 12.00M | 11.00M | 3.00M | |
| Current Income Taxes Payable | 1.00M | 1.00M | 1.00M | 2.00M | ||
| Current Unearned Revenue | 19.00M | 35.00M | 85.00M | 91.00M | 97.00M | 102.00M |
| Other Current Liabilities | 12.00M | 18.00M | 14.00M | 3.00M | 3.00M | 5.00M |
| Total Current Liabilities | 198.00M | 231.00M | 226.00M | 184.00M | 193.00M | 166.00M |
| Long-Term Debt | 225.00M | 120.00M | 69.00M | 19.00M | ||
| Long-Term Leases | 86.00M | 99.00M | 110.00M | 117.00M | 117.00M | |
| Long-Term Unearned Revenue | 37.00M | 43.00M | 234.00M | 307.00M | 355.00M | 462.00M |
| Other Long-Term Liabilities | 28.00M | 37.00M | 13.00M | 23.00M | 5.00M | |
| Total Liabilities | 460.00M | 508.00M | 665.00M | 633.00M | 688.00M | 750.00M |
| Common Stock | 2.17B | 2.12B | 1.62B | 1.31B | 1.21B | 1.12B |
| Retained Earnings | -1.70B | -1.49B | -1.13B | -849.00M | -542.00M | -275.00M |
| Comprehensive Income & Other | -1.00M | -7.00M | -1.00M | |||
| Total Common Equity | 464.00M | 631.00M | 485.00M | 462.00M | 657.00M | 842.00M |
| Shareholders' Equity | 464.00M | 631.00M | 485.00M | 462.00M | 657.00M | 842.00M |
| Total Liabilities & Equity | 924.00M | 1.14B | 1.15B | 1.09B | 1.34B | 1.59B |
| Total Debt | 238.00M | 219.00M | 180.00M | 140.00M | 120.00M | 117.00M |
| Net Cash (Debt) | 537.00M | 791.00M | 812.00M | 726.00M | 1.02B | 564.00M |
| Net Cash Per Share | 4.51 | 7.36 | 9.01 | 9.81 | 14.14 | 7.62 |
| Filing Date Shares Outstanding | 127.33M | 125.35M | 105.84M | 90.86M | 73.01M | 71.06M |
| Total Common Shares Outstanding | 127.00M | 125.30M | 92.20M | 75.50M | 72.90M | 70.78M |
| Working Capital | 558.00M | 776.00M | 790.00M | 647.00M | 874.00M | 1.10B |
| Book Value Per Share | 3.65 | 5.04 | 5.26 | 6.12 | 9.01 | 11.90 |
| Tangible Book Value | 464.00M | 631.00M | 485.00M | 462.00M | 657.00M | 842.00M |
| Tangible Book Value Per Share | 3.65 | 5.04 | 5.26 | 6.12 | 9.01 | 11.90 |
| Machinery | 32.00M | 31.00M | 27.00M | 20.00M | 16.00M | |
| Construction In Progress | 1.00M | 1.00M | 1.00M | 4.00M | 2.00M | |
| Leasehold Improvements | 57.00M | 56.00M | 54.00M | 34.00M | 32.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -460.00M | -353.00M | -283.00M | -307.00M | -267.00M | 53.00M |
| Depreciation & Amortization | 10.00M | 10.00M | 10.00M | 8.00M | 6.00M | 4.00M |
| Asset Writedown & Restructuring Costs | 20.00M | |||||
| Loss (Gain) From Sale of Investments | -11.00M | -13.00M | -25.00M | -19.00M | 5.00M | |
| Stock-Based Compensation | 63.00M | 60.00M | 76.00M | 73.00M | 65.00M | 55.00M |
| Other Operating Activities | 11.00M | 8.00M | 10.00M | 10.00M | 11.00M | 3.00M |
| Change in Accounts Receivable | 9.00M | 9.00M | 28.00M | 15.00M | 704.00M | -17.00M |
| Change in Accounts Payable | 5.00M | 24.00M | 3.00M | -1.00M | 8.00M | -5.00M |
| Change in Unearned Revenue | -106.00M | -240.00M | -56.00M | -68.00M | -112.00M | -368.00M |
| Change in Other Net Operating Assets | 5.00M | 13.00M | 47.00M | -17.00M | 23.00M | 14.00M |
| Operating Cash Flow | -474.00M | -482.00M | -170.00M | -306.00M | 438.00M | -256.00M |
| Capital Expenditures | -1.00M | -2.00M | -6.00M | -24.00M | -6.00M | -26.00M |
| Investment in Securities | 64.00M | 68.00M | -78.00M | 218.00M | -404.00M | 22.00M |
| Other Investing Activities | -3.00M | |||||
| Investing Cash Flow | 63.00M | 66.00M | -84.00M | 194.00M | -413.00M | -4.00M |
| Long-Term Debt Issued | 49.00M | 47.00M | ||||
| Net Debt Issued (Repaid) | 49.00M | 47.00M | ||||
| Issuance of Common Stock | 313.00M | 439.00M | 237.00M | 33.00M | 23.00M | 232.00M |
| Repurchase of Common Stock | -7.00M | |||||
| Other Financing Activities | 10.00M | 5.00M | ||||
| Financing Cash Flow | 313.00M | 488.00M | 277.00M | 33.00M | 33.00M | 237.00M |
| Net Cash Flow | -98.00M | 72.00M | 23.00M | -79.00M | 58.00M | -23.00M |
| Free Cash Flow | -475.00M | -484.00M | -176.00M | -330.00M | 432.00M | -282.00M |
| Free Cash Flow Margin | -405.98% | -195.95% | -68.22% | -282.05% | 385.71% | -73.63% |
| Free Cash Flow Per Share | -3.99 | -4.51 | -1.95 | -4.46 | 6.00 | -3.81 |
| Levered Free Cash Flow | -270.62M | -162.25M | -41.25M | -187.75M | 617.75M | -644.75M |
| Unlevered Free Cash Flow | -263.75M | -157.25M | -38.75M | -186.50M | 619.00M | -644.75M |
| Cash Interest Paid | 7.00M | 7.00M | 1.00M | |||
| Cash Income Tax Paid | 5.00M | 3.00M | ||||
| Change in Working Capital | -87.00M | -194.00M | 22.00M | -71.00M | 623.00M | -376.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.62B | 2.95B | 1.36B | 1.43B | 1.50B | 2.84B |
| Enterprise Value | 2.08B | 2.24B | 350.61M | 622.74M | 567.80M | 2.37B |
| Last Close Price | 18.19 | 23.83 | 14.89 | 19.10 | 20.68 | 40.47 |
| PE Ratio | 53.64 | |||||
| Forward PE | 13.11 | 13.11 | 13.11 | 13.11 | 13.11 | |
| PS Ratio | 22.35 | 11.94 | 5.28 | 12.22 | 13.37 | 7.42 |
| PB Ratio | 4.98 | 4.67 | 2.81 | 3.10 | 2.28 | 3.38 |
| P/TBV Ratio | 5.64 | 4.67 | 2.81 | 3.10 | 2.28 | 3.38 |
| P/FCF Ratio | 3.47 | |||||
| P/OCF Ratio | 3.42 | |||||
| EV/Sales Ratio | 17.76 | 9.07 | 1.36 | 5.32 | 5.07 | 6.18 |
| EV/EBITDA Ratio | 40.81 | |||||
| EV/EBIT Ratio | 43.84 | |||||
| EV/FCF Ratio | 1.31 | |||||
| Debt / Equity Ratio | 0.51 | 0.35 | 0.37 | 0.30 | 0.18 | 0.14 |
| Debt / EBITDA Ratio | 1.80 | |||||
| Debt / FCF Ratio | 0.28 | |||||
| Net Debt / Equity Ratio | -1.16 | -1.25 | -1.67 | -1.57 | -1.55 | -0.67 |
| Net Debt / EBITDA Ratio | 1.13 | 2.10 | 2.71 | 2.19 | 3.71 | -9.72 |
| Net Debt / FCF Ratio | 1.13 | 1.63 | 4.61 | 2.20 | -2.36 | 2.00 |
| Asset Turnover | 0.12 | 0.22 | 0.23 | 0.10 | 0.08 | 0.32 |
| Quick Ratio | 3.75 | 4.32 | 4.44 | 4.35 | 5.45 | 7.51 |
| Current Ratio | 3.82 | 4.36 | 4.50 | 4.52 | 5.53 | 7.60 |
| Return on Equity (ROE) | -90.82% | -63.26% | -59.77% | -54.87% | -35.62% | 7.89% |
| Return on Assets (ROA) | -30.39% | -21.08% | -17.26% | -17.42% | -11.92% | 2.85% |
| Return on Invested Capital (ROIC) | 11.31% | |||||
| Return on Capital Employed (ROCE) | -66.90% | -42.50% | -33.50% | -37.30% | -24.30% | 3.80% |
| Earnings Yield | -21.24% | -11.97% | -20.77% | -21.47% | -17.83% | 1.86% |
| FCF Yield | -18.16% | -16.41% | -12.92% | -23.08% | 28.85% | -9.92% |
| Buyback Yield / Dilution | -22.85% | -19.20% | -21.76% | -2.78% | 2.70% | -35.04% |