What is Arcus Bioscience's earnings per share (EPS)?

Arcus Bioscience (RCUS) reported diluted earnings per share of $-3.29 for fiscal year 2025. This represents a -4.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Arcus Bioscience Financials

RCUS

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Arcus Bioscience (RCUS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).

Financial Health Signals

Financial Profile 35/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Arcus Bioscience has an operating margin of -156.3%, meaning the company retains $-156 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -127.9% the prior year.

Growth

Arcus Bioscience's revenue declined 4.3% year-over-year, from $258.0M to $247.0M. This contraction results in a growth score of 26/100.

Leverage

Arcus Bioscience carries a low D/E ratio of 0.16, meaning only $0.16 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.36, Arcus Bioscience holds $4.36 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 86/100.

Cash Flow

While Arcus Bioscience generated -$482.0M in operating cash flow, capex of $2.0M consumed most of it, leaving -$484.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Arcus Bioscience generates a -55.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -58.4% the prior year.

Piotroski F-Score Weak

0/9

Arcus Bioscience passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

1.37x

For every $1 of reported earnings, Arcus Bioscience generates $1.37 in operating cash flow (-$482.0M OCF vs -$353.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-42.9x

Arcus Bioscience earns $-42.9 in operating income for every $1 of interest expense (-$386.0M vs $9.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$247.0M

YoY-4.3%

5Y CAGR+25.9%

Arcus Bioscience generated $247.0M in revenue in fiscal year 2025. This represents a decrease of 4.3% from the prior year.

EBITDA

-$376.0M

YoY-17.5%

Arcus Bioscience's EBITDA was -$376.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 17.5% from the prior year.

Net Income

-$353.0M

YoY-24.7%

Arcus Bioscience reported -$353.0M in net income in fiscal year 2025. This represents a decrease of 24.7% from the prior year.

EPS (Diluted)

$-3.29

YoY-4.8%

Arcus Bioscience earned $-3.29 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 4.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$484.0M

YoY-175.0%

Arcus Bioscience generated -$484.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 175.0% from the prior year.

Cash & Debt

$222.0M

YoY+48.0%

5Y CAGR+5.1%

Arcus Bioscience held $222.0M in cash against $99.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

125M

YoY+35.9%

5Y CAGR+12.1%

Arcus Bioscience had 125M shares outstanding in fiscal year 2025. This represents an increase of 35.9% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-156.3%

YoY-28.4pp

5Y CAGR+2.7pp

Arcus Bioscience's operating margin was -156.3% in fiscal year 2025, reflecting core business profitability. This is down 28.4 percentage points from the prior year.

Net Margin

-142.9%

YoY-33.2pp

5Y CAGR+14.8pp

Arcus Bioscience's net profit margin was -142.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 33.2 percentage points from the prior year.

Return on Equity

-55.9%

YoY+2.4pp

5Y CAGR-31.4pp

Arcus Bioscience's ROE was -55.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the prior year.

Capital Allocation

R&D Spending

$523.0M

YoY+16.7%

5Y CAGR+26.9%

Arcus Bioscience invested $523.0M in research and development in fiscal year 2025. This represents an increase of 16.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$2.0M

YoY-66.7%

5Y CAGR-7.8%

Arcus Bioscience invested $2.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 66.7% from the prior year.

RCUS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$247.0M-4.3%	$258.0M+120.5%	$117.0M+4.5%	$112.0M-70.8%	$383.0M+391.0%	$78.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$523.0M+16.7%	$448.0M+31.8%	$340.0M+18.1%	$288.0M+12.1%	$257.0M+61.6%	$159.0M
SG&A Expenses	$110.0M-8.3%	$120.0M+2.6%	$117.0M+12.5%	$104.0M+44.4%	$72.0M+67.4%	$43.0M
Operating Income	-$386.0M-17.0%	-$330.0M+2.9%	-$340.0M-21.4%	-$280.0M-618.5%	$54.0M+143.5%	-$124.0M
Interest Expense	$9.0M+350.0%	$2.0M0.0%	$2.0M0.0%	$2.0M	N/A	N/A
Income Tax	$0-100.0%	$1.0M-83.3%	$6.0M+500.0%	$1.0M-50.0%	$2.0M	N/A
Net Income	-$353.0M-24.7%	-$283.0M+7.8%	-$307.0M-15.0%	-$267.0M-603.8%	$53.0M+143.1%	-$123.0M
EPS (Diluted)	$-3.29-4.8%	$-3.14+24.3%	$-4.15-11.9%	$-3.71-622.5%	$0.71+131.7%	$-2.24

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$33.0M+26.9%	$26.0M-83.8%	$160.0M+471.4%	$28.0M+7.7%	$26.0M-45.8%	$48.0M+23.1%	$39.0M-73.1%	$145.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$121.0M-14.2%	$141.0M+1.4%	$139.0M+13.9%	$122.0M+20.8%	$101.0M-17.9%	$123.0M+7.0%	$115.0M+5.5%	$109.0M
SG&A Expenses	$26.0M-3.7%	$27.0M-6.9%	$29.0M+3.6%	$28.0M0.0%	$28.0M-6.7%	$30.0M0.0%	$30.0M-6.3%	$32.0M
Operating Income	-$114.0M+19.7%	-$142.0M-1675.0%	-$8.0M+93.4%	-$122.0M-18.4%	-$103.0M+1.9%	-$105.0M+0.9%	-$106.0M-562.5%	-$16.0M
Interest Expense	$2.0M-50.0%	$4.0M+300.0%	$1.0M-50.0%	$2.0M	$0-100.0%	$1.0M	$0-100.0%	$1.0M
Income Tax	$0	$0	$0	$0-100.0%	$1.0M	$0	$0	$0
Net Income	-$106.0M+21.5%	-$135.0M	$0+100.0%	-$112.0M-19.1%	-$94.0M-2.2%	-$92.0M+1.1%	-$93.0M-2225.0%	-$4.0M
EPS (Diluted)	N/A	$-1.27	$0.00+100.0%	$-1.14	N/A	$-1.00+2.0%	$-1.02-1940.0%	$-0.05

RCUS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.1B-1.0%	$1.1B+5.0%	$1.1B-18.6%	$1.3B-15.5%	$1.6B+106.1%	$772.3M
Current Assets	$1.0B-0.9%	$1.0B+22.3%	$831.0M-22.1%	$1.1B-15.5%	$1.3B+71.5%	$735.8M
Cash & Equivalents	$222.0M+48.0%	$150.0M+18.1%	$127.0M-38.3%	$206.0M+39.2%	$148.0M-14.7%	$173.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$508.0M-23.6%	$665.0M+5.1%	$633.0M-8.0%	$688.0M-8.3%	$750.4M+178.0%	$270.0M
Current Liabilities	$231.0M+2.2%	$226.0M+22.8%	$184.0M-4.7%	$193.0M+16.3%	$166.0M+36.4%	$121.7M
Long-Term Debt	$99.0M+106.3%	$48.0M	$0	N/A	N/A	N/A
Total Equity	$631.0M+30.1%	$485.0M+5.0%	$462.0M-29.7%	$657.0M-22.0%	$842.0M+67.7%	$502.0M
Retained Earnings	-$1.5B-31.2%	-$1.1B-33.3%	-$849.0M-56.6%	-$542.0M-97.1%	-$275.0M+16.2%	-$328.2M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$1.1B+16.9%	$974.0M-9.4%	$1.1B-7.0%	$1.2B+0.5%	$1.1B-8.1%	$1.3B+5.6%	$1.2B-8.3%	$1.3B
Current Assets	$1.0B+17.5%	$857.0M-9.4%	$946.0M-8.2%	$1.0B+1.5%	$1.0B-9.8%	$1.1B+10.3%	$1.0B-3.9%	$1.1B
Cash & Equivalents	$222.0M-6.7%	$238.0M-4.0%	$248.0M+29.2%	$192.0M+28.0%	$150.0M-25.4%	$201.0M+28.8%	$156.0M-15.7%	$185.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$508.0M-5.6%	$538.0M+2.3%	$526.0M-15.8%	$625.0M-6.0%	$665.0M-3.2%	$687.0M+24.7%	$551.0M-6.0%	$586.0M
Current Liabilities	$231.0M-1.7%	$235.0M+11.9%	$210.0M+9.4%	$192.0M-15.0%	$226.0M+5.1%	$215.0M+8.0%	$199.0M-2.5%	$204.0M
Long-Term Debt	$99.0M+1.0%	$98.0M+1.0%	$97.0M+102.1%	$48.0M0.0%	$48.0M+2.1%	$47.0M	N/A	N/A
Total Equity	$631.0M+44.7%	$436.0M-20.6%	$549.0M+3.4%	$531.0M+9.5%	$485.0M-14.2%	$565.0M-11.0%	$635.0M-10.2%	$707.0M
Retained Earnings	-$1.5B-7.7%	-$1.4B-10.9%	-$1.2B0.0%	-$1.2B-9.9%	-$1.1B-9.1%	-$1.0B-9.7%	-$946.0M-10.9%	-$853.0M

RCUS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$482.0M-183.5%	-$170.0M+44.4%	-$306.0M-169.9%	$438.0M+271.1%	-$256.0M-330.6%	$111.0M
Capital Expenditures	$2.0M-66.7%	$6.0M-75.0%	$24.0M+300.0%	$6.0M-76.9%	$26.0M+766.7%	$3.0M
Free Cash Flow	-$484.0M-175.0%	-$176.0M+46.7%	-$330.0M-176.4%	$432.0M+253.2%	-$282.0M-361.1%	$108.0M
Investing Cash Flow	$66.0M+178.6%	-$84.0M-143.3%	$194.0M+147.0%	-$413.0M-10225.0%	-$4.0M+99.1%	-$434.0M
Financing Cash Flow	$488.0M+76.2%	$277.0M+739.4%	$33.0M0.0%	$33.0M-86.1%	$237.0M-46.0%	$439.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$120.0M-23.7%	-$97.0M+27.1%	-$133.0M-0.8%	-$132.0M-32.0%	-$100.0M-484.6%	$26.0M+127.7%	-$94.0M-4600.0%	-$2.0M
Capital Expenditures	$1.0M	$0	$0-100.0%	$1.0M0.0%	$1.0M0.0%	$1.0M	$0-100.0%	$4.0M
Free Cash Flow	-$121.0M-24.7%	-$97.0M+27.1%	-$133.0M0.0%	-$133.0M-31.7%	-$101.0M-504.0%	$25.0M+126.6%	-$94.0M-1466.7%	-$6.0M
Investing Cash Flow	-$182.0M-330.4%	$79.0M-42.3%	$137.0M+328.1%	$32.0M-37.3%	$51.0M+275.9%	-$29.0M-146.0%	$63.0M+137.3%	-$169.0M
Financing Cash Flow	$286.0M+3475.0%	$8.0M-84.6%	$52.0M-63.4%	$142.0M+7200.0%	-$2.0M-104.2%	$48.0M+2300.0%	$2.0M-99.1%	$229.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RCUS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-156.3%-28.4pp	-127.9%+162.7pp	-290.6%-40.6pp	-250.0%-264.1pp	14.1%+173.1pp	-159.0%
Net Margin	-142.9%-33.2pp	-109.7%+152.7pp	-262.4%-24.0pp	-238.4%-252.2pp	13.8%+171.5pp	-157.7%
Return on Equity	-55.9%+2.4pp	-58.4%+8.1pp	-66.5%-25.8pp	-40.6%-46.9pp	6.3%+30.8pp	-24.5%
Return on Assets	-31.0%-6.4pp	-24.6%+3.4pp	-28.0%-8.2pp	-19.9%-23.2pp	3.3%+19.3pp	-15.9%
Current Ratio	4.36-0.1	4.50-0.0	4.52-1.0	5.53-2.1	7.60+1.6	6.05
Debt-to-Equity	0.16+0.1	0.10+0.1	0.00-1.0	1.05+0.2	0.89+0.4	0.54
FCF Margin	-195.9%-127.7pp	-68.2%+213.8pp	-282.1%-667.8pp	385.7%+459.3pp	-73.6%-212.1pp	138.5%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-345.4%+200.7pp	-546.1%-541.1pp	-5.0%+430.7pp	-435.7%-39.6pp	-396.1%-177.4pp	-218.8%+53.0pp	-271.8%-260.8pp	-11.0%
Net Margin	-321.2%+198.0pp	-519.2%-519.2pp	0.0%+400.0pp	-400.0%-38.5pp	-361.5%-169.9pp	-191.7%+46.8pp	-238.5%-235.7pp	-2.8%
Return on Equity	-16.8%+14.2pp	-31.0%-31.0pp	0.0%+21.1pp	-21.1%-1.7pp	-19.4%-3.1pp	-16.3%-1.6pp	-14.6%-14.1pp	-0.6%
Return on Assets	-9.3%+4.5pp	-13.9%-13.9pp	0.0%+9.7pp	-9.7%-1.5pp	-8.2%-0.8pp	-7.3%+0.5pp	-7.8%-7.5pp	-0.3%
Current Ratio	4.36+0.7	3.65-0.9	4.50-0.9	5.37+0.9	4.50-0.7	5.24+0.1	5.14-0.1	5.22
Debt-to-Equity	0.16-0.1	0.22+0.0	0.18+0.1	0.090.0	0.10+0.0	0.08-0.8	0.87+0.0	0.83
FCF Margin	-366.7%+6.4pp	-373.1%-289.9pp	-83.1%+391.9pp	-475.0%-86.5pp	-388.5%-440.5pp	52.1%+293.1pp	-241.0%-236.9pp	-4.1%

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Frequently Asked Questions

What is Arcus Bioscience's annual revenue?

Arcus Bioscience (RCUS) reported $247.0M in total revenue for fiscal year 2025. This represents a -4.3% 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 Arcus Bioscience's revenue growing?

Arcus Bioscience (RCUS) revenue declined by 4.3% year-over-year, from $258.0M to $247.0M in fiscal year 2025.

Is Arcus Bioscience profitable?

No, Arcus Bioscience (RCUS) reported a net income of -$353.0M in fiscal year 2025, with a net profit margin of -142.9%.

What is Arcus Bioscience's EBITDA?

Arcus Bioscience (RCUS) had EBITDA of -$376.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Arcus Bioscience have?

As of fiscal year 2025, Arcus Bioscience (RCUS) had $222.0M in cash and equivalents against $99.0M in long-term debt.

What is Arcus Bioscience's operating margin?

Arcus Bioscience (RCUS) had an operating margin of -156.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Arcus Bioscience's net profit margin?

Arcus Bioscience (RCUS) had a net profit margin of -142.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Arcus Bioscience's return on equity (ROE)?

Arcus Bioscience (RCUS) has a return on equity of -55.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Arcus Bioscience's free cash flow?

Arcus Bioscience (RCUS) generated -$484.0M in free cash flow during fiscal year 2025. This represents a -175.0% 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 Arcus Bioscience's operating cash flow?

Arcus Bioscience (RCUS) generated -$482.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Arcus Bioscience's total assets?

Arcus Bioscience (RCUS) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Arcus Bioscience's capital expenditures?

Arcus Bioscience (RCUS) invested $2.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Arcus Bioscience spend on research and development?

Arcus Bioscience (RCUS) invested $523.0M in research and development during fiscal year 2025.

How many shares does Arcus Bioscience have outstanding?

Arcus Bioscience (RCUS) had 125M shares outstanding as of fiscal year 2025.

What is Arcus Bioscience's current ratio?

Arcus Bioscience (RCUS) had a current ratio of 4.36 as of fiscal year 2025, which is generally considered healthy.

What is Arcus Bioscience's debt-to-equity ratio?

Arcus Bioscience (RCUS) had a debt-to-equity ratio of 0.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Arcus Bioscience's return on assets (ROA)?

Arcus Bioscience (RCUS) had a return on assets of -31.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Arcus Bioscience's cash runway?

Based on fiscal year 2025 data, Arcus Bioscience (RCUS) had $222.0M in cash against an annual operating cash burn of $482.0M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Arcus Bioscience's Piotroski F-Score?

Arcus Bioscience (RCUS) has a Piotroski F-Score of 0 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Arcus Bioscience's earnings high quality?

Arcus Bioscience (RCUS) has an earnings quality ratio of 1.37x, considered low quality (accrual-driven). 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.

Can Arcus Bioscience cover its interest payments?

Arcus Bioscience (RCUS) has an interest coverage ratio of -42.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Arcus Bioscience?

Arcus Bioscience (RCUS) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.