Arvinas, Inc (ARVN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ARVN SEC filings page.
Arvinas, Inc (ARVN) reported $316.7M in revenue over the twelve months to Jun 30, 2026, down 15.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Arvinas remains an equity-funded development business: revenue held steady while operating losses narrowed without improving cash conversion.
Revenue stability arrived in FY2025 at$263M , while the net loss narrowed materially. Operating cash flow nevertheless worsened to-$274M from-$259M , showing that accounting improvement was not matched by cash conversion.
FY2025 research spending was
With debt-to-equity at 0.0x and current ratio at 4.9x, the balance sheet is financed mainly through equity and liquid assets rather than borrowing. Reported liquidity equaled 30 months of FY2025 operating outflow, but free cash flow was
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Arvinas, Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Arvinas, Inc held $685.4M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $273.8M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Arvinas, Inc scores 56/100 among other emerging companies.
Arvinas, Inc had 64M shares outstanding at the end of fiscal year 2025, against 69M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Arvinas, Inc scores 77/100 among other emerging companies.
Arvinas, Inc spent $285.2M on research and development in fiscal year 2025, which was 74.8% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Arvinas, Inc scores 93/100 among other emerging companies.
Arvinas, Inc reported revenue of $262.6M in fiscal year 2025, against $263.4M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Arvinas, Inc scores 84/100 among other emerging companies.
Arvinas, Inc's operations used $273.8M of cash in fiscal year 2025, against $259.3M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Arvinas, Inc scores 57/100 among other emerging companies.
Arvinas, Inc's cash, cash equivalents and investments came to $685.4M at the end of fiscal year 2025, against $284.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Arvinas, Inc scores 77/100 among other emerging companies.
Arvinas, Inc scores -1.33, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($499.6M) relative to total liabilities ($284.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Arvinas, Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Arvinas, Inc reported a net loss of $81.0M while operations used $273.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Arvinas, Inc generated $249.7M in revenue in Q2 2026. This represents an increase of 1014.7% from the same quarter a year earlier. Against the prior quarter it is up 1500.6%.
Arvinas, Inc's EBITDA was $164.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 333.1% from the same quarter a year earlier. Against the prior quarter it is up 361.2%.
Arvinas, Inc reported $169.4M in net income in Q2 2026. This represents an increase of 376.8% from the same quarter a year earlier. Against the prior quarter it is up 394.1%.
Arvinas, Inc earned $2.58 per diluted share (EPS) in Q2 2026. This represents an increase of 407.1% from the same quarter a year earlier. Against the prior quarter it is up 386.7%.
Cash & Balance Sheet
Arvinas, Inc recorded an outflow of $48.5M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 49.8% from the same quarter a year earlier. Against the prior quarter it is up 31.2%.
Arvinas, Inc held $94.3M in cash against $300K in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Arvinas, Inc's operating margin was 65.7% in Q2 2026, reflecting core business profitability. No change is given against Q2 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Arvinas, Inc's net profit margin was 67.8% in Q2 2026, showing the share of revenue converted to profit. No change is given against Q2 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Arvinas, Inc's ROE was 30.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 40.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 45.0 percentage points.
Not reported for Q2 2026.
Capital Allocation
Arvinas, Inc invested $52.6M in research and development in Q2 2026. This represents a decrease of 23.3% from the same quarter a year earlier. Against the prior quarter it is down 12.8%.
Arvinas, Inc invested $200K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 83.3% from the same quarter a year earlier. Against the prior quarter it is down 84.6%.
Not reported for Q2 2026.
ARVN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $249.7M+1014.7% | $15.6M-91.7% | $9.5M-84.0% | $41.9M-59.1% | $22.4M-70.7% | $188.8M+646.2% | $59.2M | $102.4M+196.0% |
| R&D Expenses | $52.6M-23.3% | $60.3M-33.6% | $61.1M-26.7% | $64.7M-25.5% | $68.6M-26.8% | $90.8M+7.7% | $83.3M | $86.9M+1.2% |
| SG&A Expenses | $24.0M-5.1% | $19.1M-28.2% | $23.0M-32.4% | $21.0M-72.3% | $25.3M-19.2% | $26.6M+9.5% | $34.0M | $75.8M+235.4% |
| Operating Income | $164.1M+329.5% | -$63.8M-189.4% | -$74.6M-28.4% | -$43.8M+27.4% | -$71.5M-47.4% | $71.4M+185.7% | -$58.1M | -$60.3M+18.4% |
| EBITDA | $164.8M+333.1% | -$63.1M-187.5% | -$73.9M-29.6% | -$43.0M+27.4% | -$70.7M-49.5% | $72.1M+187.8% | -$57.0M | -$59.2M+18.6% |
| Interest Expense | $0 | N/A | N/A | N/A | $0 | $0 | $0 | $0 |
| Income Tax | $200K+166.7% | $100K-50.0% | $100K+133.3% | $300K-50.0% | -$300K-250.0% | $200K+100.0% | -$300K | $600K |
| Net Income | $169.4M+376.8% | -$57.6M-169.5% | -$67.6M-49.6% | -$35.1M+28.7% | -$61.2M-73.9% | $82.9M+219.5% | -$45.2M | -$49.2M+23.1% |
| EPS (Basic) | $2.61+410.7% | -$0.90-178.9% | -$0.96-52.4% | -$0.48+29.4% | -$0.84-71.4% | $1.14+217.5% | -$0.63+76.2% | -$0.68+42.4% |
| EPS (Diluted) | $2.58+407.1% | -$0.90-178.9% | -$0.96-52.4% | -$0.48+29.4% | -$0.84-71.4% | $1.14+217.5% | -$0.63+76.2% | -$0.68+42.4% |
| Diluted Shares (Avg) | 66M-10.0% | 64M-12.0% | N/A | 73M+1.5% | 73M+1.5% | 73M+1.4% | N/A | 72M+33.3% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
ARVN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $675.1M-25.8% | $647.5M-35.3% | $717.9M-34.2% | $844.3M-27.7% | $909.3M-28.9% | $1.0B-17.4% | $1.1B-16.3% | $1.2B+10.3% |
| Current Assets | $652.2M-26.7% | $630.7M-35.6% | $700.7M-34.3% | $826.3M-28.1% | $889.5M-29.2% | $979.7M-17.7% | $1.1B-16.6% | $1.1B+11.3% |
| Cash & Equivalents | $94.3M-17.9% | $87.3M+7.8% | $142.9M+42.2% | $101.5M+19.1% | $114.9M-25.8% | $81.0M-8.0% | $100.5M-67.8% | $85.2M-25.1% |
| Short-Term Investments | $473.6M-36.5% | $527.6M-39.6% | $542.5M-42.2% | $686.1M-33.8% | $746.3M-30.5% | $873.3M-19.2% | $938.9M-1.1% | $1.0B+17.1% |
| Accounts Receivable | $50.3M+9960.0% | $1.8M+350.0% | $1.0M-82.5% | $20.3M+178.1% | $500K-72.2% | $400K | $5.7M | $7.3M-53.5% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $112.9M-62.4% | $260.7M-23.5% | $284.0M-46.4% | $279.9M-51.8% | $300.0M-55.8% | $341.0M-43.4% | $529.7M-17.8% | $581.1M-3.3% |
| Current Liabilities | $82.5M-47.7% | $115.9M-45.8% | $142.5M-38.0% | $144.9M-47.5% | $157.8M-54.6% | $214.0M-11.1% | $229.8M-10.6% | $275.9M-13.0% |
| Non-Current Liabilities | $30.4M-78.6% | $144.8M+14.0% | $141.5M-52.8% | $135.0M-55.8% | $142.2M-57.2% | $127.0M-64.9% | $299.9M-22.6% | $305.2M+7.5% |
| Long-Term Debt | $300K-40.0% | $300K-40.0% | $400K-33.3% | $400K-33.3% | $500K-28.6% | $500K-28.6% | $600K-25.0% | $600K-25.0% |
| Total Equity | $562.2M-7.7% | $386.8M-41.4% | $433.9M-22.8% | $564.4M-3.7% | $609.3M+1.5% | $660.1M+8.3% | $561.7M-14.9% | $586.0M+28.2% |
| Retained Earnings | -$1.5B+0.6% | -$1.7B-15.3% | -$1.6B-5.3% | -$1.5B-3.9% | -$1.5B-5.1% | -$1.4B-3.3% | -$1.5B-14.9% | -$1.5B-26.2% |
Not reported in any period shown, so not listed: Inventory, Goodwill.
ARVN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$48.3M+49.4% | -$69.2M+22.2% | -$30.4M+63.9% | -$59.1M+53.8% | -$95.4M-289.7% | -$88.9M+8.8% | -$84.1M-1.2% | -$128.0M-50.9% |
| Depreciation & Amortization | $700K-12.5% | $700K0.0% | $700K-36.4% | $800K-27.3% | $800K-33.3% | $700K-41.7% | $1.1M-8.3% | $1.1M-8.3% |
| Stock-Based Compensation | $5.9M-43.3% | $12.1M-19.3% | N/A | $10.1M-59.1% | $10.4M-51.9% | $15.0M-19.4% | N/A | $24.7M+47.9% |
| Capital Expenditures | $200K-83.3% | $1.3M+225.0% | $200K-33.3% | $100K-85.7% | $1.2M+71.4% | $400K+300.0% | $300K+200.0% | $700K-36.4% |
| Free Cash Flow | -$48.5M+49.8% | -$70.5M+21.1% | -$30.6M+63.7% | -$59.2M+54.0% | -$96.6M-294.8% | -$89.3M+8.5% | -$84.4M-1.4% | -$128.7M-49.8% |
| Investing Cash Flow | $54.9M-57.4% | $13.7M-80.3% | $145.8M+47.4% | $63.5M+25.7% | $128.8M+883.2% | $69.5M+154.4% | $98.9M+284.2% | $50.5M-27.9% |
| Financing Cash Flow | $400K-20.0% | -$100K0.0% | -$74.0M-14900.0% | -$17.8M-841.7% | $500K-85.3% | -$100K-106.3% | $500K-99.9% | $2.4M-93.7% |
| Share Buybacks | N/A | N/A | $74.1M | N/A | N/A | N/A | $0 | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
ARVN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 65.7% | -409.0% | -785.3% | -104.5% | -319.2% | 37.8% | -98.1% | -58.9% |
| Net Margin | 67.8% | -369.2% | -711.6% | -83.8%-35.7pp | -273.2% | 43.9% | -76.3% | -48.0% |
| Return on Equity | 30.1%+40.2pp | -14.9%-27.4pp | -15.6%-7.5pp | -6.2%+2.2pp | -10.0%-4.2pp | 12.6%+23.9pp | -8.0% | -8.4%+5.6pp |
| Return on Assets | 25.1%+31.8pp | -8.9%-17.2pp | -9.4%-5.3pp | -4.2%+0.1pp | -6.7%-4.0pp | 8.3%+14.0pp | -4.1% | -4.2%+1.8pp |
| Current Ratio | 7.91+2.3x | 5.44+0.9x | 4.92+0.3x | 5.70+1.5x | 5.64+2.0x | 4.58-0.4x | 4.64-0.3x | 4.17+0.9x |
| Debt-to-Equity | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x |
| Asset Turnover | 0.37+0.3x | 0.02-0.2x | 0.010.0x | 0.050.0x | 0.020.0x | 0.19+0.2x | 0.05 | 0.09+0.1x |
| FCF Margin | -19.4% | -451.9% | -322.1% | -141.3% | -431.3% | -47.3% | -142.6% | -125.7% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Arvinas, Inc ARVN | FY2025 | $262.6M | -$81.0M | -30.9% | $499.6M | 74/100 |
| Olema Pharmaceuticals, Inc. OLMA | FY2025 | N/A | -$162.5M | N/A | $684.2M | — |
| Nurix Therapeutics, Inc. NRIX | FY2025 | $84.0M | -$264.5M | N/A | $2.3B | 54/100 |
| Xencor, Inc. XNCR | FY2025 | $125.6M | -$91.9M | -73.2% | $1.8B | 40/100 |
| Verastem, Inc. VSTM | FY2025 | $30.9M | -$209.5M | N/A | $758.9M | 52/100 |
Where Arvinas, Inc Ranks
Frequently Asked Questions
What is Arvinas, Inc's annual revenue?
Arvinas, Inc (ARVN) reported $262.6M in total revenue for fiscal year 2025. This represents a -0.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Arvinas, Inc's revenue growing?
Arvinas, Inc (ARVN) revenue declined by 0.3% year-over-year, from $263.4M to $262.6M in fiscal year 2025.
Is Arvinas, Inc profitable?
No, Arvinas, Inc (ARVN) reported a net income of -$81.0M in fiscal year 2025, with a net profit margin of -30.9%.
What is Arvinas, Inc's EBITDA?
Arvinas, Inc (ARVN) had EBITDA of -$115.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Arvinas, Inc have?
As of fiscal year 2025, Arvinas, Inc (ARVN) had $142.9M in cash and equivalents against $400K in long-term debt.
What is Arvinas, Inc's operating margin?
Arvinas, Inc (ARVN) had an operating margin of -45.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Arvinas, Inc's net profit margin?
Arvinas, Inc (ARVN) had a net profit margin of -30.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Arvinas, Inc's return on equity (ROE)?
Arvinas, Inc (ARVN) has a return on equity of -18.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Arvinas, Inc's free cash flow?
Arvinas, Inc (ARVN) recorded an outflow of $275.7M in free cash flow during fiscal year 2025. This represents a -5.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Arvinas, Inc's operating cash flow?
Arvinas, Inc (ARVN) recorded an outflow of $273.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Arvinas, Inc's total assets?
Arvinas, Inc (ARVN) had $717.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Arvinas, Inc's capital expenditures?
Arvinas, Inc (ARVN) invested $1.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Arvinas, Inc spend on research and development?
Arvinas, Inc (ARVN) invested $285.2M in research and development during fiscal year 2025.
What is Arvinas, Inc's current ratio?
Arvinas, Inc (ARVN) had a current ratio of 4.92 as of fiscal year 2025, which is generally considered healthy.
What is Arvinas, Inc's debt-to-equity ratio?
Arvinas, Inc (ARVN) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Arvinas, Inc's return on assets (ROA)?
Arvinas, Inc (ARVN) had a return on assets of -11.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Arvinas, Inc's P/E ratio?
Arvinas, Inc (ARVN) trades at 54.9x earnings, its market capitalization divided by net income of $9.1M net income, trailing 12 months to June 30, 2026. The market capitalization is $499.6M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Arvinas, Inc's price-to-sales ratio?
Arvinas, Inc (ARVN) trades at 1.6x sales, its market capitalization divided by revenue of $316.7M revenue, trailing 12 months to June 30, 2026. The market capitalization is $499.6M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Arvinas, Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Arvinas, Inc (ARVN) held $685.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $273.8M over that year. Dividing the one by the other, the reported balance equals about 30 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Arvinas, Inc's Altman Z-Score?
Arvinas, Inc (ARVN) has an Altman Z-Score of -1.33, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Arvinas, Inc's Piotroski F-Score?
Arvinas, Inc (ARVN) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Arvinas, Inc's earnings high quality?
Arvinas, Inc (ARVN) reported a net loss of $81.0M while operations used $273.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Arvinas, Inc?
Arvinas, Inc (ARVN) scores 74 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.