What is Revolution Medicines, Inc.'s earnings per share (EPS)?

Revolution Medicines, Inc. (RVMD) reported diluted earnings per share of -$5.95 for fiscal year 2025. This represents a -66.2% 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.

Revolution Medicines, Inc. Financials

RVMD

FY2025 annual

Revenue $0 YoY not available

Net Income -$1.1B -88.5% YoY

EPS (Diluted) -$5.95 -66.2% YoY

Free Cash Flow -$913.7M -60.9% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Revolution Medicines, Inc. (RVMD) reported $0 in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).

Rhea AI RVMD FY2025 2026-08-26

Development-stage economics are dominated by R&D investment, while rising cash use is reshaping the balance-sheet cushion.

R&D investment reached $987M in FY2025 while operating cash flow was -$898M, tying the expanding development program directly to the company’s cash requirement. Against FY2023 operating cash flow of -$351M, FY2025 free cash flow was -$914M and remained close to operating cash flow, indicating that operations—not heavy fixed-asset spending—drive cash use.

Total liabilities reached $723M in FY2025, up from $236M in FY2023, so the balance sheet became materially more liability-intensive. Debt-to-equity rose from 0.1x to 0.4x, making financing more consequential even though the company remained equity-funded overall.

In FY2023, R&D spending of $423M dwarfed revenue of $12M, showing that reported sales were still incidental to the development model. Capital expenditures were only $16M against FY2025 operating cash flow of -$898M, reinforcing that fixed assets are not the main cash consumer.

Financial Health Signals

Financial health score not available

Revolution Medicines, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Safe

34.51

Revolution Medicines, Inc. scores 34.51, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($44.6B) relative to total liabilities ($723.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

1/7

Revolution Medicines, Inc. passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

Revolution Medicines, Inc. reported a net loss of $1.1B while operations used $897.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Revolution Medicines, Inc. reported an operating loss of $1.2B against $24.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

Revolution Medicines, Inc. generated $0 in revenue in fiscal year 2025.

EBITDA

-$1.2B

YoY-72.0%

Revolution Medicines, Inc.'s EBITDA was -$1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 72.0% from the prior year.

Net Income

-$1.1B

YoY-88.5%

Revolution Medicines, Inc. reported -$1.1B in net income in fiscal year 2025. This represents a decrease of 88.5% from the prior year.

EPS (Diluted)

-$5.95

YoY-66.2%

Revolution Medicines, Inc. earned -$5.95 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 66.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$913.7M

YoY-60.9%

Revolution Medicines, Inc. recorded an outflow of $913.7M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 60.9% from the prior year.

Cash & Debt

$383.7M

YoY-29.3%

5Y CAGR+29.8%

Revolution Medicines, Inc. held $383.7M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding

198M

YoY+6.6%

5Y CAGR+22.0%

Revolution Medicines, Inc. had 198M shares outstanding in fiscal year 2025. This represents an increase of 6.6% from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Return on Equity

-69.3%

YoY-42.8pp

5Y CAGR-46.5pp

Revolution Medicines, Inc.'s ROE was -69.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 42.8 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Net Margin

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending

$987.3M

YoY+66.7%

5Y CAGR+49.5%

Revolution Medicines, Inc. invested $987.3M in research and development in fiscal year 2025. This represents an increase of 66.7% from the prior year.

Capital Expenditures

$16.0M

YoY+55.1%

5Y CAGR+40.4%

Revolution Medicines, Inc. invested $16.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 55.1% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

RVMD Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RVMD quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue	N/A	$0	$0-100.0%	$11.6M-67.3%	$35.4M+20.4%	$29.4M-31.6%	$43.0M-14.1%	$50.0M+148.2%	$20.2M
R&D Expenses	N/A	$987.3M+66.7%	$592.2M+40.0%	$423.1M+67.2%	$253.1M+35.4%	$186.9M+41.4%	$132.3M+44.1%	$91.8M+79.6%	$51.1M
SG&A Expenses	N/A	$195.0M+100.5%	$97.3M+28.7%	$75.6M+86.3%	$40.6M+33.3%	$30.4M+42.1%	$21.4M+72.7%	$12.4M+31.8%	$9.4M
Operating Income	N/A	-$1.2B-71.5%	-$689.5M-41.5%	-$487.2M-88.6%	-$258.3M-37.4%	-$188.0M-69.8%	-$110.7M-104.5%	-$54.1M-34.2%	-$40.3M
Interest Expense	N/A	$24.2M	$0	$0	$0-100.0%	$12K-83.1%	$71K-33.0%	$106K-8.6%	$116K
Income Tax	N/A	$0+100.0%	-$753K+78.6%	-$3.5M-739.0%	-$420K	$0+100.0%	-$371K+91.5%	-$4.4M	N/A
Net Income	N/A	-$1.1B-88.5%	-$600.0M-37.6%	-$436.0M-75.1%	-$249.0M-33.2%	-$187.0M-72.9%	-$108.2M-126.9%	-$47.7M-14.1%	-$41.8M
EPS (Diluted)	-$8.85	-$5.95-66.2%	-$3.58+7.3%	-$3.86-25.3%	-$3.08-19.8%	-$2.57-27.9%	-$2.01	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
R&D Expenses	$394.9M+14.8%	$344.0M	N/A	$262.5M+17.1%	$224.1M+8.9%	$205.7M	N/A	$151.8M
SG&A Expenses	$110.2M+8.9%	$101.3M	N/A	$52.8M+30.0%	$40.6M+15.9%	$35.0M	N/A	$24.0M
Operating Income	-$505.1M-13.5%	-$445.2M	N/A	-$315.3M-19.1%	-$264.7M-9.9%	-$240.8M	N/A	-$175.7M
Interest Expense	$23.8M+95.0%	$12.2M	N/A	$11.4M+1218.1%	$867K	$0	N/A	$0
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Net Income	-$644.4M-42.0%	-$453.8M	N/A	-$305.2M-23.2%	-$247.8M-16.1%	-$213.4M	N/A	-$156.3M
EPS (Diluted)	-$3.06-33.6%	-$2.29-21.2%	-$1.89-17.4%	-$1.61-22.9%	-$1.31-15.9%	-$1.130.0%	-$1.13-20.2%	-$0.94

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.

RVMD Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RVMD quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Total Assets	$2.4B-8.0%	$2.6B+24.1%	$2.1B+153.9%	$811.9M+10.0%	$738.0M+30.1%	$567.4M+157.3%	$220.5M	N/A
Current Assets	$2.1B-10.9%	$2.3B+23.9%	$1.9B+184.7%	$660.2M+11.9%	$589.8M+29.9%	$454.1M+238.9%	$134.0M	N/A
Cash & Equivalents	$383.7M-29.3%	$543.1M-22.0%	$696.1M+331.3%	$161.4M+48.8%	$108.5M+4.1%	$104.3M+525.9%	$16.7M-76.1%	$69.6M
Goodwill	$14.6M0.0%	$14.6M0.0%	$14.6M0.0%	$14.6M0.0%	$14.6M0.0%	$14.6M0.0%	$14.6M	N/A
Total Liabilities	$723.2M+146.7%	$293.1M+24.5%	$235.5M+85.8%	$126.7M-6.4%	$135.4M+46.0%	$92.7M-75.1%	$373.1M	N/A
Current Liabilities	$290.4M+77.2%	$163.9M+13.9%	$143.9M+132.1%	$62.0M+2.7%	$60.4M+27.9%	$47.2M+9.6%	$43.1M	N/A
Total Equity	$1.6B-28.0%	$2.3B+24.0%	$1.8B+166.5%	$685.2M+13.7%	$602.6M+26.9%	$474.7M+411.1%	-$152.6M-40.7%	-$108.4M
Retained Earnings	-$2.9B-65.1%	-$1.7B-52.7%	-$1.1B-62.2%	-$701.3M-54.9%	-$452.6M-70.5%	-$265.5M-68.7%	-$157.4M	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$4.3B+91.8%	$2.3B-4.3%	$2.4B+4.6%	$2.3B-7.3%	$2.4B+2.7%	$2.4B-7.5%	$2.6B+45.1%	$1.8B
Current Assets	$4.0B+104.7%	$2.0B-5.2%	$2.1B+4.9%	$2.0B-9.1%	$2.2B+2.0%	$2.1B-8.3%	$2.3B+47.4%	$1.6B
Cash & Equivalents	$815.4M+84.9%	$440.9M+14.9%	$383.7M+76.5%	$217.4M-46.0%	$402.4M+20.7%	$333.6M-38.6%	$543.1M+169.8%	$201.3M
Goodwill	$14.6M0.0%	$14.6M0.0%	$14.6M0.0%	$14.6M0.0%	$14.6M0.0%	$14.6M0.0%	$14.6M0.0%	$14.6M
Total Liabilities	$1.7B+127.8%	$753.8M+4.2%	$723.2M+10.4%	$655.0M+16.1%	$564.2M+96.4%	$287.2M-2.0%	$293.1M+49.0%	$196.7M
Current Liabilities	$354.1M+22.3%	$289.6M-0.3%	$290.4M+18.2%	$245.6M+33.1%	$184.5M+16.4%	$158.6M-3.2%	$163.9M+47.9%	$110.9M
Total Equity	$2.6B+73.8%	$1.5B-8.1%	$1.6B+2.2%	$1.6B-14.4%	$1.9B-10.2%	$2.1B-8.3%	$2.3B+44.6%	$1.6B
Retained Earnings	-$4.0B-19.4%	-$3.3B-15.8%	-$2.9B-14.6%	-$2.5B-13.9%	-$2.2B-12.7%	-$2.0B-12.3%	-$1.7B-12.6%	-$1.5B

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.

RVMD Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RVMD quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	-$1.2B	-$897.7M-61.0%	-$557.4M-59.0%	-$350.6M-56.2%	-$224.4M-52.5%	-$147.2M-47.1%	-$100.1M-101.7%	-$49.6M-4190.4%	$1.2M
Capital Expenditures	$9.1M	$16.0M+55.1%	$10.3M+33.4%	$7.7M-28.5%	$10.8M+65.7%	$6.5M+122.6%	$2.9M+13.3%	$2.6M+72.7%	$1.5M
Free Cash Flow	-$1.2B	-$913.7M-60.9%	-$567.7M-58.5%	-$358.3M-52.3%	-$235.2M-53.0%	-$153.7M-49.2%	-$103.0M-97.3%	-$52.2M-18153.5%	-$286K
Investing Cash Flow	-$1.4B	$118.1M+121.3%	-$554.4M-61.8%	-$342.6M-1320.6%	-$24.1M+83.0%	-$142.1M+39.3%	-$234.2M-129.7%	-$102.0M-7515.3%	-$1.3M
Financing Cash Flow	$3.0B	$621.5M-35.2%	$959.4M-21.9%	$1.2B+307.8%	$301.4M+2.5%	$294.2M-30.4%	$422.8M+328.5%	$98.7M+62.1%	$60.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$387.3M-9.4%	-$354.2M-29.1%	-$274.2M-32.3%	-$207.3M+6.5%	-$221.8M-14.1%	-$194.4M-40.6%	-$138.3M-6.0%	-$130.4M
Capital Expenditures	$2.3M+48.6%	$1.5M-20.1%	$1.9M-42.5%	$3.3M-55.0%	$7.5M+128.1%	$3.3M+167.3%	$1.2M-65.3%	$3.5M
Free Cash Flow	-$389.6M-9.5%	-$355.7M-28.8%	-$276.2M-31.1%	-$210.7M+8.1%	-$229.2M-15.9%	-$197.7M-41.7%	-$139.5M-4.2%	-$133.9M
Investing Cash Flow	-$1.7B-1060.9%	$172.6M+130.5%	$74.9M+201.3%	$24.8M-27.5%	$34.3M+314.9%	-$15.9M+95.9%	-$392.9M-1730.1%	-$21.5M
Financing Cash Flow	$2.4B+913.8%	$238.7M-34.7%	$365.7M+23068.5%	-$1.6M-100.6%	$256.6M+29257.3%	$874K-99.9%	$873.8M+1030.5%	$77.3M

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

RVMD Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

RVMD quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Operating Margin	N/A	N/A	-4207.1%	-730.0%	-639.7%	-257.5%	-108.1%	-200.0%
Net Margin	N/A	N/A	-3765.1%	-703.8%	-636.3%	-251.6%	-95.3%	-207.2%
Return on Equity	-69.3%-42.8pp	-26.5%-2.6pp	-23.9%+12.5pp	-36.3%-5.3pp	-31.0%-8.2pp	-22.8%	N/A	N/A
Return on Assets	-48.0%-24.6pp	-23.4%-2.3pp	-21.1%+9.5pp	-30.7%-5.3pp	-25.3%-6.3pp	-19.1%+2.5pp	-21.6%	N/A
Current Ratio	7.14-7.1x	14.20+1.1x	13.06+2.4x	10.65+0.9x	9.77+0.1x	9.63+6.5x	3.11	N/A
Debt-to-Equity	0.44+0.3x	0.130.0x	0.13-0.1x	0.180.0x	0.220.0x	0.20	N/A	N/A
FCF Margin	N/A	N/A	-3094.1%	-664.8%	-523.0%	-239.6%	-104.3%	-1.4%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Return on Equity	-24.7%+5.5pp	-30.3%	N/A	-19.1%-5.8pp	-13.3%-3.0pp	-10.3%	N/A	-10.0%
Return on Assets	-14.9%+5.2pp	-20.1%	N/A	-13.6%-3.4pp	-10.2%-1.2pp	-9.0%	N/A	-8.9%
Current Ratio	11.38+4.6x	6.80-0.3x	7.14-0.9x	8.05-3.7x	11.79-1.7x	13.46-0.7x	14.200.0x	14.24
Debt-to-Equity	0.66+0.2x	0.50+0.1x	0.440.0x	0.41+0.1x	0.30+0.2x	0.140.0x	0.130.0x	0.13

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.

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Where Revolution Medicines, Inc. Ranks

Frequently Asked Questions

What is Revolution Medicines, Inc.'s annual revenue?

Revolution Medicines, Inc. (RVMD) reported $0 in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Is Revolution Medicines, Inc. profitable?

No, Revolution Medicines, Inc. (RVMD) reported a net income of -$1.1B in fiscal year 2025.

What is Revolution Medicines, Inc.'s EBITDA?

Revolution Medicines, Inc. (RVMD) had EBITDA of -$1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Revolution Medicines, Inc.'s return on equity (ROE)?

Revolution Medicines, Inc. (RVMD) has a return on equity of -69.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Revolution Medicines, Inc.'s free cash flow?

Revolution Medicines, Inc. (RVMD) recorded an outflow of $913.7M in free cash flow during fiscal year 2025. This represents a -60.9% 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 Revolution Medicines, Inc.'s operating cash flow?

Revolution Medicines, Inc. (RVMD) recorded an outflow of $897.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Revolution Medicines, Inc.'s total assets?

Revolution Medicines, Inc. (RVMD) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Revolution Medicines, Inc.'s capital expenditures?

Revolution Medicines, Inc. (RVMD) invested $16.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Revolution Medicines, Inc. spend on research and development?

Revolution Medicines, Inc. (RVMD) invested $987.3M in research and development during fiscal year 2025.

How many shares does Revolution Medicines, Inc. have outstanding?

Revolution Medicines, Inc. (RVMD) had 198M shares outstanding as of fiscal year 2025.

What is Revolution Medicines, Inc.'s current ratio?

Revolution Medicines, Inc. (RVMD) had a current ratio of 7.14 as of fiscal year 2025, which is generally considered healthy.

What is Revolution Medicines, Inc.'s debt-to-equity ratio?

Revolution Medicines, Inc. (RVMD) had a debt-to-equity ratio of 0.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Revolution Medicines, Inc.'s return on assets (ROA)?

Revolution Medicines, Inc. (RVMD) had a return on assets of -48.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

How does Revolution Medicines, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Revolution Medicines, Inc. (RVMD) held $2.0B in cash, cash equivalents and investments, and reported an operating cash outflow of $897.7M over that year. Dividing the one by the other, the reported balance equals about 27 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 Revolution Medicines, Inc.'s Altman Z-Score?

Revolution Medicines, Inc. (RVMD) has an Altman Z-Score of 34.51, placing it in the Safe Zone (low 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 Revolution Medicines, Inc.'s Piotroski F-Score?

Revolution Medicines, Inc. (RVMD) has a Piotroski F-Score of 1 out of 7 computable signals; 2 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 Revolution Medicines, Inc.'s earnings high quality?

Revolution Medicines, Inc. (RVMD) reported a net loss of $1.1B while operations used $897.7M 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.

Can Revolution Medicines, Inc. cover its interest payments?

Revolution Medicines, Inc. (RVMD) reported an operating loss of $1.2B against $24.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.