Roivant Sciences Financials
This page shows Roivant Sciences (ROIV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Roivant’s operating model is a cash-funded development engine, while reported earnings can be reshaped by large non-sales events.
FY2024 produced$4.35B of net income while operating cash flow stayed at-$765M , a mismatch too large to treat as ordinary timing noise. When FY2025 returned to a-$172M net loss, cash burn was still-$839M , showing that reported earnings volatility came from asset-level or transaction effects outside the core spending engine rather than from a business that is already funding itself.
In FY2025, R&D spending was
Even after that burn, FY2025 ended with cash of
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Roivant Sciences'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.
Roivant Sciences has an operating margin of -6235.7%, meaning the company retains $-6236 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 -3453.3% the prior year.
Roivant Sciences's revenue declined 71.6% year-over-year, from $29.1M to $8.3M. This contraction results in a growth score of 0/100.
Roivant Sciences carries a low D/E ratio of 0.09, meaning only $0.09 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 18.37, Roivant Sciences holds $18.37 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Roivant Sciences generated -$750.3M in operating cash flow, capex of $8.2M consumed most of it, leaving -$758.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Roivant Sciences's ROE of -6.6% shows moderate profitability relative to equity, earning a score of 34/100. This is down from -3.7% the prior year.
Roivant Sciences 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.
For every $1 of reported earnings, Roivant Sciences generates $2.50 in operating cash flow (-$750.3M OCF vs -$299.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Roivant Sciences generated $8.3M in revenue in fiscal year 2026. This represents a decrease of 71.6% from the prior year.
Roivant Sciences's EBITDA was -$511.7M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 48.3% from the prior year.
Roivant Sciences reported -$299.8M in net income in fiscal year 2026. This represents a decrease of 74.3% from the prior year.
Roivant Sciences earned $-0.54 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 125.0% from the prior year.
Cash & Balance Sheet
Roivant Sciences generated -$758.6M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 10.1% from the prior year.
Roivant Sciences held $1.4B in cash against $0 in long-term debt as of fiscal year 2026.
Roivant Sciences had 719M shares outstanding in fiscal year 2026. This represents an increase of 3.4% from the prior year.
Margins & Returns
Roivant Sciences's operating margin was -6235.7% in fiscal year 2026, reflecting core business profitability. This is down 2782.4 percentage points from the prior year.
Roivant Sciences's net profit margin was -3629.2% in fiscal year 2026, showing the share of revenue converted to profit. This is down 3037.2 percentage points from the prior year.
Roivant Sciences's ROE was -6.6% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 2.9 percentage points from the prior year.
Capital Allocation
Roivant Sciences invested $681.8M in research and development in fiscal year 2026. This represents an increase of 23.9% from the prior year.
Roivant Sciences spent $318.1M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 75.4% from the prior year.
Roivant Sciences invested $8.2M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 78.5% from the prior year.
ROIV Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5M+26.1% | $2.0M+27.2% | $1.6M-27.6% | $2.2M-71.3% | $7.6M-16.1% | $9.0M+101.5% | $4.5M-44.0% | $8.0M |
| 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 | $198.9M+20.3% | $165.4M+0.5% | $164.6M+7.6% | $152.9M+5.3% | $145.2M+2.6% | $141.6M-1.0% | $143.1M+18.7% | $120.5M |
| SG&A Expenses | $158.3M-9.6% | $175.1M+22.3% | $143.1M+6.8% | $134.0M+36.1% | $98.5M-30.4% | $141.5M-30.2% | $202.9M+36.6% | $148.5M |
| Operating Income | $415.2M+222.4% | -$339.2M-10.7% | -$306.2M-7.5% | -$284.9M0.0% | -$285.0M-3.9% | -$274.4M+19.7% | -$341.7M-234.2% | -$102.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $13.4M |
| Income Tax | $98.4M+321.5% | $23.3M+233.6% | $7.0M+50.5% | $4.6M-90.6% | $49.3M+292.9% | -$25.6M-305.2% | $12.5M+4.1% | $12.0M |
| Net Income | $303.0M+214.0% | -$265.9M-134.2% | -$113.5M+49.2% | -$223.4M-8.2% | -$206.5M-221.9% | $169.4M+173.6% | -$230.2M-341.5% | $95.3M |
| EPS (Diluted) | N/A | $-0.38-123.5% | $-0.17+48.5% | $-0.33 | N/A | $0.23+174.2% | $-0.31-358.3% | $0.12 |
ROIV Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.7B+9.2% | $5.2B+3.2% | $5.1B+0.6% | $5.0B-7.4% | $5.4B-6.1% | $5.8B-6.7% | $6.2B-4.5% | $6.5B |
| Current Assets | $5.2B+10.9% | $4.7B+3.3% | $4.5B-2.3% | $4.6B-7.7% | $5.0B-6.8% | $5.4B-7.5% | $5.8B-3.3% | $6.0B |
| Cash & Equivalents | $1.4B-4.0% | $1.5B+19.5% | $1.2B-0.1% | $1.2B-54.4% | $2.7B+36.4% | $2.0B+1.6% | $2.0B-65.5% | $5.7B |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $34.0M |
| 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 | $416.3M+65.8% | $251.1M-2.3% | $257.1M+18.7% | $216.7M-13.2% | $249.7M-2.6% | $256.4M-59.0% | $626.0M+4.1% | $601.2M |
| Current Liabilities | $281.2M+85.1% | $152.0M+13.5% | $133.9M+17.6% | $113.9M-23.8% | $149.4M+5.6% | $141.5M-74.6% | $556.2M+158.7% | $215.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $311.7M |
| Total Equity | $4.5B+6.0% | $4.3B-2.1% | $4.4B+0.4% | $4.3B-7.3% | $4.7B-9.7% | $5.2B+0.7% | $5.2B-5.2% | $5.4B |
| Retained Earnings | -$501.8M+27.8% | -$695.0M-62.0% | -$429.1M-36.0% | -$315.6M-371.9% | $116.1M-74.8% | $460.4M+16.4% | $395.6M-41.1% | $671.5M |
ROIV Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$163.8M+16.6% | -$196.5M-5.8% | -$185.7M+9.2% | -$204.4M-18.4% | -$172.6M+16.7% | -$207.3M+22.3% | -$266.8M-38.4% | -$192.8M |
| Capital Expenditures | $1.3M+125.6% | -$4.9M-162.9% | $7.8M+94.5% | $4.0M+397.5% | $811K-55.6% | $1.8M+83.4% | $996K+3.2% | $965K |
| Free Cash Flow | -$165.1M+18.0% | -$201.4M-4.1% | -$193.5M+7.2% | -$208.4M-20.2% | -$173.4M+17.1% | -$209.1M+21.9% | -$267.8M-38.2% | -$193.8M |
| Investing Cash Flow | $173.5M+58.5% | $109.5M-9.1% | $120.4M+111.1% | -$1.1B-201.1% | $1.1B+136.6% | $454.1M+113.8% | -$3.3B-341205.1% | -$965K |
| Financing Cash Flow | -$68.8M-121.0% | $328.2M+424.4% | $62.6M+133.3% | -$187.8M-6.0% | -$177.2M+35.1% | -$273.0M-150.2% | -$109.1M+83.5% | -$660.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $0 | $0-100.0% | $208.3M-29.5% | $295.4M+21.4% | $243.3M+129.5% | $106.1M-83.6% | $648.4M |
ROIV Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 16477.8%+33443.9pp | -16966.1%+2526.7pp | -19492.9%-6362.8pp | -13130.0%-9365.6pp | -3764.4%-721.8pp | -3042.6%+4593.4pp | -7636.0%-6356.5pp | -1279.5% |
| Net Margin | 12023.6%+25324.8pp | -13301.2%-6075.3pp | -7225.9%+3066.9pp | -10292.9%-7565.3pp | -2727.5%-4605.8pp | 1878.3%+7022.0pp | -5143.8%-6336.5pp | 1192.7% |
| Return on Equity | 6.7%+12.9pp | -6.2%-3.6pp | -2.6%+2.5pp | -5.1%-0.7pp | -4.4%-7.7pp | 3.3%+7.7pp | -4.5%-6.2pp | 1.8% |
| Return on Assets | 5.3%+10.4pp | -5.1%-2.9pp | -2.2%+2.2pp | -4.4%-0.6pp | -3.8%-6.7pp | 2.9%+6.6pp | -3.7%-5.2pp | 1.5% |
| Current Ratio | 18.37-12.3 | 30.66-3.0 | 33.70-6.8 | 40.54+7.1 | 33.47-4.4 | 37.91+27.5 | 10.43-17.5 | 27.91 |
| Debt-to-Equity | 0.09+0.0 | 0.060.0 | 0.060.0 | 0.050.0 | 0.050.0 | 0.05-0.1 | 0.12+0.1 | 0.06 |
| FCF Margin | -6550.7%+3525.2pp | -10076.0%+2241.8pp | -12317.8%-2713.2pp | -9604.5%-7314.2pp | -2290.3%+28.2pp | -2318.4%+3666.0pp | -5984.4%-3558.9pp | -2425.5% |
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Frequently Asked Questions
What is Roivant Sciences's annual revenue?
Roivant Sciences (ROIV) reported $8.3M in total revenue for fiscal year 2026. This represents a -71.6% 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 Roivant Sciences's revenue growing?
Roivant Sciences (ROIV) revenue declined by 71.6% year-over-year, from $29.1M to $8.3M in fiscal year 2026.
Is Roivant Sciences profitable?
No, Roivant Sciences (ROIV) reported a net income of -$299.8M in fiscal year 2026, with a net profit margin of -3629.2%.
What is Roivant Sciences's EBITDA?
Roivant Sciences (ROIV) had EBITDA of -$511.7M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Roivant Sciences's operating margin?
Roivant Sciences (ROIV) had an operating margin of -6235.7% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Roivant Sciences's net profit margin?
Roivant Sciences (ROIV) had a net profit margin of -3629.2% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Roivant Sciences's return on equity (ROE)?
Roivant Sciences (ROIV) has a return on equity of -6.6% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Roivant Sciences's free cash flow?
Roivant Sciences (ROIV) generated -$758.6M in free cash flow during fiscal year 2026. This represents a 10.1% 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 Roivant Sciences's operating cash flow?
Roivant Sciences (ROIV) generated -$750.3M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Roivant Sciences's total assets?
Roivant Sciences (ROIV) had $5.7B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Roivant Sciences's capital expenditures?
Roivant Sciences (ROIV) invested $8.2M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Roivant Sciences spend on research and development?
Roivant Sciences (ROIV) invested $681.8M in research and development during fiscal year 2026.
What is Roivant Sciences's current ratio?
Roivant Sciences (ROIV) had a current ratio of 18.37 as of fiscal year 2026, which is generally considered healthy.
What is Roivant Sciences's debt-to-equity ratio?
Roivant Sciences (ROIV) had a debt-to-equity ratio of 0.09 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Roivant Sciences's return on assets (ROA)?
Roivant Sciences (ROIV) had a return on assets of -5.3% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Roivant Sciences's cash runway?
Based on fiscal year 2026 data, Roivant Sciences (ROIV) had $1.4B in cash against an annual operating cash burn of $750.3M. This gives an estimated cash runway of approximately 23 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 Roivant Sciences's Piotroski F-Score?
Roivant Sciences (ROIV) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Roivant Sciences's earnings high quality?
Roivant Sciences (ROIV) has an earnings quality ratio of 2.50x, 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.
How financially healthy is Roivant Sciences?
Roivant Sciences (ROIV) scores 39 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.