9 years of historical data (2017–2025) · Healthcare · Biotechnology
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Arcutis Biotherapeutics, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.3B | $3.7B | $1.7B | $224M | $814M | $1.0B | $1.0B | — | — | — |
| Enterprise Value | $3.3B | $3.7B | $1.7B | $341M | $963M | $1.0B | $943M | — | — | — |
| P/E Ratio → | -207.46 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 8.84 | 9.82 | 8.57 | 3.76 | 220.96 | — | — | — | — | — |
| P/B Ratio | 18.11 | 19.50 | 10.70 | 2.52 | 3.89 | 3.44 | 3.71 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.73 | 8.77 | 5.73 | 261.36 | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Arcutis Biotherapeutics, Inc. earns an operating margin of -3.3%. Operating margins have expanded from -404.5% to -3.3% over the past 3 years, signaling improving operational efficiency. A negative ROE of -9.3% indicates the company is currently destroying shareholder equity.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 90.2% | 90.2% | 90.3% | 91.6% | 79.5% | — | — | — | — | — |
| Operating Margin | -3.3% | -3.3% | -65.3% | -404.5% | -8183.0% | — | — | — | — | — |
| Net Profit Margin | -4.3% | -4.3% | -71.3% | -439.8% | -8449.8% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -9.3% | -9.3% | -113.8% | -175.8% | -122.8% | -72.6% | -72.9% | -108.4% | — | — |
| ROA | -4.1% | -4.1% | -40.6% | -66.3% | -72.6% | -58.4% | -67.0% | -53.1% | -70.1% | -130.3% |
| ROIC | -5.2% | -5.2% | -47.8% | -64.0% | -71.2% | -63.5% | -82.3% | — | — | — |
| ROCE | -4.3% | -4.3% | -45.6% | -68.3% | -76.7% | -63.5% | -72.4% | -57.4% | -76.6% | -131.3% |
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $43M exceeds total debt of $6M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.70 | 2.32 | 0.97 | 0.26 | 0.02 | 0.00 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.19 | 0.25 | 1.33 | 0.71 | -0.07 | -0.22 | -0.62 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -1.01 | -1.01 | -4.73 | -8.11 | -19.27 | — | — | — | — | — |
Net cash position: cash ($43M) exceeds total debt ($6M)
Short-term solvency ratios and asset-utilisation metrics
Arcutis Biotherapeutics, Inc.'s current ratio of 3.17x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 7.08x to 3.17x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.17 | 3.17 | 4.15 | 7.08 | 11.57 | 12.09 | 12.96 | 20.33 | 19.12 | 5.52 |
| Quick Ratio | 2.99 | 2.99 | 3.97 | 6.80 | 11.37 | 12.09 | 12.96 | 20.33 | 19.12 | 5.52 |
| Cash Ratio | 1.70 | 1.70 | 2.81 | 5.83 | 10.83 | 11.66 | 12.58 | 19.34 | 19.06 | 4.94 |
| Asset Turnover | — | 0.87 | 0.56 | 0.17 | 0.01 | — | — | — | — | — |
| Inventory Turnover | 1.62 | 1.62 | 1.32 | 0.38 | 0.10 | — | — | — | — | — |
| Days Sales Outstanding | — | 141.92 | 135.69 | 158.03 | 837.54 | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Arcutis Biotherapeutics, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $127M | $121M | $69M | $55M | $49M | $36M | $38M | $36M | $1M |
Compare ARQT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| ARQTYou | $3B | -207.5 | — | — | 90.2% | -3.3% | -9.3% | -5.2% | — |
| UTHR | $22B | 18.1 | 12.9 | 21.1 | 87.9% | 46.9% | 19.7% | 21.1% | — |
| ZLAB | $21B | -12.0 | — | — | 58.6% | -49.9% | -22.6% | -42.8% | — |
| AMRN | $6B | -3.5 | — | — | 35.6% | -40.2% | -15.8% | -18.7% | — |
| ALKS | $5B | 21.0 | 15.9 | 9571.4 | 86.3% | 17.2% | 14.7% | 14.9% | 0.2 |
| ADMA | $4B | 19.2 | 25.1 | 33.7 | 51.5% | 32.6% | 81.6% | 37.7% | 0.6 |
| LQDA | $3B | -18.7 | — | — | 58.0% | -866.6% | -209.4% | -500.7% | — |
| SLGL | $3B | -241.3 | — | — | 98.0% | -104.1% | -31.4% | -41.5% | — |
| MLYS | $2B | -8.0 | — | — | — | — | -82.2% | -107.3% | — |
| ARDX | $2B | -25.2 | — | — | 90.3% | -10.1% | -36.2% | -10.8% | — |
| TBPH | $925M | -15.9 | — | — | 100.0% | -72.9% | -29.0% | -17.2% | — |
| Healthcare Median | — | 23.7 | 13.8 | 18.8 | 65.8% | -6.3% | -37.3% | -15.0% | 3.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 9 years · Updated daily
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Start ComparisonArcutis Biotherapeutics, Inc.'s current P/E ratio is -207.5x. This places it at the 50th percentile of its historical range.
Arcutis Biotherapeutics, Inc.'s return on equity (ROE) is -9.3%. The historical average is -96.5%.
Based on historical data, Arcutis Biotherapeutics, Inc. is trading at a P/E of -207.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Arcutis Biotherapeutics, Inc. has 90.2% gross margin and -3.3% operating margin.