Arcus Biosciences, Inc. (RCUS) 10-Year Financial Performance & Capital Metrics

RCUS •

HealthcareBiotechnologyOncology Therapeutics Developers

AboutArcus Biosciences, Inc., a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy. The company also develops Domvanalimab, an anti-TIGIT monoclonal antibody, which is in Phase 2 development for the treatment of first-line metastatic non-small cell lung cancer in combination with Zimberelimab; Quemliclustat, a small-molecule CD73 inhibitor is in a Phase 1/1b study for the treatment of first-line metastatic pancreatic cancer; and AB521, an oral and small molecule HIF-2a inhibitor that is in Phase 1 study for the treatment of patients with von Hippel- Lindau disease. It has a clinical development collaboration agreement with Strata Oncology, Inc. to evaluate Zimberelimab; a collaboration with AstraZeneca, BVF Partners L.P to evaluate domvanalimab, its investigational anti-TIGIT antibody, in combination with Imfinzi (durvalumab) in a registrational Phase 3 clinical trial in patients with unresectable Stage III non-small cell lung cancer; and license agreements with Taiho Pharmaceutical Co., Ltd, Abmuno Therapeutics LLC, and WuXi Biologics to develop anti-CD39 antibody for the treatment of cancer. The company was incorporated in 2015 and is headquartered in Hayward, California.Show more

Revenue $247M -4.3%
EBITDA -$386M -20.6%
Net Income -$353M -24.7%
EPS (Diluted) -3.29 -4.8%
Gross Margin -
EBITDA Margin -156.28% -26.0%
Operating Margin -156.28% -22.2%
Net Margin -142.91% -30.3%
ROE -63.26% -5.8%
ROIC -64.12% +4.0%
Debt/Equity 0.16 +26.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 88 (top 12%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 25.9%

✗Weaknesses

✗Weak Piotroski F-Score: 0/9
✗Negative free cash flow
✗Shares diluted 19.2% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y25.93%

3Y30.16%

TTM-4.26%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-24.73%

EPS CAGR

10Y-

5Y-

3Y-

TTM-5.91%

ROCE

10Y Avg-27.85%

5Y Avg-25.52%

3Y Avg-37.02%

Latest-42.14%

Peer Comparison

Oncology Therapeutics Developers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EXELExelixis, Inc.	11.81B	44.06	15.85	6.98%	29.63%	31.37%	7.49%	0.08
INCYIncyte Corporation	20.1B	101.27	15.80	21.22%	25.03%	24.9%	6.74%	0.01
GMABGenmab A/S	18.13B	29.44	15.36	30.67%	46.8%	114.25%	6.6%	0.03
SNDXSyndax Pharmaceuticals, Inc.	1.89B	21.71	-5.82		-279.31%	-269.93%		1.20
RCUSArcus Biosciences, Inc.	2.55B	20.37	-6.19	-4.26%	-142.91%	-55.94%		0.16
RLAYRelay Therapeutics, Inc.	1.78B	10.26	-6.37	53.44%	-18.01%	-48.76%		0.06
STROSutro Biopharma, Inc.	1.74B	20.47	-6.92	-59.64%	-205.18%	-234.19%		4.57
OLMAOlema Pharmaceuticals, Inc.	1.66B	24.20	-11			-48.77%		0.00

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	0	1.41M	8.35M	15M	78M	383M	112M	117M	258M	247M
Revenue Growth %	-	-	491.15%	79.58%	420%	391.03%	-70.76%	4.46%	120.51%	-4.26%
Cost of Goods Sold+	1.31M	0	0	0	0	0	0	0	0	0
COGS % of Revenue	-	-	-	-	-	-	-	-	-	-
Gross Profit+	-1.31M	1.41M	8.35M	15M	78M	383M	112M	117M	258M	0
Gross Margin %	-	100%	100%	100%	100%	100%	100%	100%	100%	-
Gross Profit Growth %	-	207.53%	491.15%	79.58%	420%	391.03%	-70.76%	4.46%	120.51%	-100%
Operating Expenses+	18.18M	54.85M	63.21M	103.71M	202M	329M	392M	457M	588M	633M
OpEx % of Revenue	-	3882.09%	756.76%	691.39%	258.97%	85.9%	350%	390.6%	227.91%	256.28%
Selling, General & Admin	3.94M	7.64M	13.57M	25.23M	43M	72M	104M	117M	120M	110M
SG&A % of Revenue	-	540.41%	162.41%	168.19%	55.13%	18.8%	92.86%	100%	46.51%	44.53%
Research & Development	14.25M	47.22M	49.65M	78.48M	159M	257M	288M	340M	448M	523M
R&D % of Revenue	-	3341.68%	594.35%	523.21%	203.85%	67.1%	257.14%	290.6%	173.64%	211.74%
Other Operating Expenses	0	0	0	0	0	0	0	0	20M	0
Operating Income+	-18.18M	-53.44M	-54.86M	-88.71M	-124M	54M	-280M	-340M	-330M	-386M
Operating Margin %	-	-3782.09%	-656.76%	-591.39%	-158.97%	14.1%	-250%	-290.6%	-127.91%	-156.28%
Operating Income Growth %	-	-193.92%	-2.65%	-61.7%	-39.78%	143.55%	-618.52%	-21.43%	2.94%	-16.97%
EBITDA+	-16.87M	-50.83M	-51.2M	-85.13M	-121M	58M	-274M	-332M	-320M	-386M
EBITDA Margin %	-	-3597.24%	-612.89%	-567.54%	-155.13%	15.14%	-244.64%	-283.76%	-124.03%	-156.28%
EBITDA Growth %	-	-201.33%	-0.72%	-66.29%	-42.13%	147.93%	-572.41%	-21.17%	3.61%	-20.63%
D&A (Non-Cash Add-back)	1.31M	2.61M	3.66M	3.58M	3M	4M	6M	8M	10M	0
EBIT	-18.18M	-53.44M	-54.86M	-84.71M	-123M	55M	-264M	-299M	-279M	0
Net Interest Income+	0	775K	4.92M	5.2M	1M	1M	14M	39M	48M	0
Interest Income	212K	775K	4.92M	5.2M	1M	1M	16M	41M	52M	0
Interest Expense	0	0	0	0	0	0	2M	2M	4M	-8M
Other Income/Expense	212K	359K	5.26M	4M	1M	1M	14M	39M	47M	33M
Pretax Income+	-17.97M	-53.08M	-49.59M	-84.71M	-123M	55M	-266M	-301M	-283M	-353M
Pretax Margin %	-	-3756.69%	-593.73%	-564.73%	-157.69%	14.36%	-237.5%	-257.26%	-109.69%	-142.91%
Income Tax+	0	0	0	0	0	2M	1M	6M	1M	0
Effective Tax Rate %	100%	100%	100%	100%	100%	96.36%	100.38%	101.99%	100%	100%
Net Income+	-17.97M	-53.08M	-49.59M	-84.71M	-123M	53M	-267M	-307M	-283M	-353M
Net Margin %	-	-3756.69%	-593.73%	-564.73%	-157.69%	13.84%	-238.39%	-262.39%	-109.69%	-142.91%
Net Income Growth %	-	-195.39%	6.57%	-70.81%	-45.2%	143.09%	-603.77%	-14.98%	7.82%	-24.73%
Net Income (Continuing)	-17.97M	-53.08M	-49.59M	-84.71M	-123M	53M	-267M	-307M	-284M	-353M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.73	-2.16	-1.43	-1.73	-2.13	0.71	-3.71	-4.15	-3.14	-3.29
EPS Growth %	-	-195.89%	33.8%	-20.98%	-23.12%	133.33%	-622.54%	-11.86%	24.34%	-4.78%
EPS (Basic)	-0.73	-2.16	-1.43	-1.73	-2.13	0.76	-3.71	-4.15	-3.14	-3.29
Diluted Shares Outstanding	24.55M	24.55M	34.62M	43.83M	54.79M	73.97M	72M	74M	90.1M	107.4M
Basic Shares Outstanding	24.55M	24.55M	34.62M	43.83M	54.79M	69.35M	72M	74M	90.1M	107.4M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	99.69M	176.87M	258.95M	192.71M	735.82M	1.26B	1.07B	831M	1.02B	1.01B
Cash & Short-Term Investments	98.9M	175.7M	256.54M	188.27M	728.65M	499.31M	1.01B	759M	978M	981M
Cash Only	65.16M	98.43M	71.06M	57.94M	173.41M	147.91M	206M	127M	150M	222M
Short-Term Investments	33.74M	77.28M	185.48M	130.33M	555.23M	351.39M	803M	632M	828M	759M
Accounts Receivable	405K	25K	83K	132K	1.7M	746.82M	43M	42M	25M	0
Days Sales Outstanding	-	6.46	3.63	3.21	7.95	711.72	140.13	131.03	35.37	-
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	251K	4.47M	14.72M	14M	30M	13M	26M
Total Non-Current Assets+	10.01M	13.62M	15.98M	10.4M	36.48M	330.15M	279M	264M	134M	132M
Property, Plant & Equipment	8.61M	11.23M	11.11M	9.33M	23.59M	137.42M	135M	51M	47M	40M
Fixed Asset Turnover	-	0.13x	0.75x	1.61x	3.31x	2.79x	0.83x	2.29x	5.49x	6.18x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	1M	682K	4.38M	0	6.64M	185M	134M	107M	14M	0
Other Non-Current Assets	403K	1.71M	487K	1.07M	6.25M	7.73M	10M	106M	73M	92M
Total Assets+	109.7M	190.49M	274.93M	203.11M	772.29M	1.59B	1.34B	1.09B	1.15B	1.14B
Asset Turnover	-	0.01x	0.03x	0.07x	0.10x	0.24x	0.08x	0.11x	0.22x	0.22x
Asset Growth %	-	73.64%	44.33%	-26.12%	280.23%	106.13%	-15.51%	-18.59%	5.02%	-0.96%
Total Current Liabilities+	5.55M	12.73M	16.93M	22.71M	121.67M	166.08M	193M	184M	226M	231M
Accounts Payable	3.87M	3.82M	3.1M	4.7M	15.68M	10.26M	20M	17M	18M	0
Days Payables Outstanding	1.07K	-	-	-	-	-	-	-	-	-
Short-Term Debt	0	0	0	0	2.87M	5.1M	3M	0	0	0
Deferred Revenue (Current)	0	5M	6.25M	7M	74.57M	102M	97M	91M	85M	35M
Other Current Liabilities	682K	769K	1.56M	6.43M	19.92M	30.26M	48M	39M	14M	196M
Current Ratio	17.98x	13.90x	15.29x	8.49x	6.05x	7.60x	5.52x	4.52x	4.50x	4.36x
Quick Ratio	17.98x	13.90x	15.29x	8.49x	6.05x	7.60x	5.52x	4.52x	4.50x	4.36x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	4.7M	23.89M	23.05M	16.56M	148.32M	584.36M	495M	449M	439M	277M
Long-Term Debt	0	0	0	0	0	0	0	0	48M	99M
Capital Lease Obligations	0	0	0	0	15.24M	116.89M	117M	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	4.7M	5.3M	6.06M	4.54M	10.25M	5.26M	23M	142M	157M	178M
Total Liabilities	10.24M	36.62M	39.98M	39.27M	269.99M	750.45M	688M	633M	665M	508M
Total Debt+	0	0	0	0	18.11M	121.99M	120M	11M	60M	99M
Net Debt	-65.16M	-98.43M	-71.06M	-57.94M	-155.31M	-25.93M	-86M	-116M	-90M	-123M
Debt / Equity	-	-	-	-	0.04x	0.14x	0.18x	0.02x	0.12x	0.16x
Debt / EBITDA	-	-	-	-	-	2.10x	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-0.45x	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-140.00x	-170.00x	-82.50x	-
Total Equity+	99.46M	153.87M	234.94M	163.84M	502.3M	841.45M	657M	462M	485M	631M
Equity Growth %	-	54.7%	52.69%	-30.26%	206.58%	67.52%	-21.92%	-29.68%	4.98%	30.1%
Book Value per Share	4.05	6.27	6.79	3.74	9.17	11.38	9.13	6.24	5.38	5.88
Total Shareholders' Equity	99.46M	153.87M	234.94M	163.84M	502.3M	841.45M	657M	462M	485M	631M
Common Stock	1K	3K	4K	4K	6K	7K	1.21B	1.31B	1.62B	2.12B
Retained Earnings	-20.15M	-73.23M	-122.83M	-205.33M	-328.18M	-275.35M	-542M	-849M	-1.13B	-1.49B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-26K	-42K	-107K	64K	44K	-1.26M	-7M	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-12.94M	-25.06M	-43M	-73.46M	111.17M	-256.17M	438M	-306M	-170M	-482M
Operating CF Margin %	-	-1773.46%	-514.74%	-489.75%	142.53%	-66.89%	391.07%	-261.54%	-65.89%	-195.14%
Operating CF Growth %	-	-93.6%	-71.58%	-70.86%	251.33%	-330.43%	270.98%	-169.86%	44.44%	-183.53%
Net Income	-17.97M	-53.08M	-49.59M	-84.71M	-122.86M	52.83M	-267M	-307M	-283M	-353M
Depreciation & Amortization	1.31M	2.61M	3.66M	3.58M	4.19M	3.84M	14M	8M	10M	10M
Stock-Based Compensation	90K	495K	3.87M	8.98M	22M	55M	0	73M	76M	60M
Deferred Taxes	-90K	416K	-2.1M	0	0	4.77M	0	0	0	0
Other Non-Cash Items	90K	-98K	-177K	-1.44M	-46K	3.47M	68M	-9M	5M	-199M
Working Capital Changes	3.62M	24.6M	1.33M	125K	208.06M	-375.62M	623M	-71M	22M	0
Change in Receivables	0	380K	-58K	-49K	-917K	-17.05M	704M	15M	28M	0
Change in Inventory	0	0	0	0	21.32M	14.09M	0	0	0	0
Change in Payables	3.57M	-267K	-69K	1.73M	9.27M	-4.77M	8M	-1M	3M	24M
Cash from Investing+	-38.86M	-49.07M	-113.44M	59.21M	-434.37M	-3.87M	-413M	194M	-84M	66M
Capital Expenditures	-4.1M	-5.51M	-3.74M	-1.93M	-3.06M	-26.08M	-6M	-24M	-6M	-2M
CapEx % of Revenue	-	390.23%	44.81%	12.83%	3.92%	6.81%	5.36%	20.51%	2.33%	0.81%
Acquisitions	-1M	0	0	0	431M	-22M	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1M	-43.56M	-109.7M	0	-431M	22M	-3M	0	0	0
Cash from Financing+	70.1M	107.4M	129.07M	1.12M	438.68M	237.34M	33M	33M	277M	488M
Debt Issued (Net)	0	0	0	0	0	5M	10M	0	47M	0
Equity Issued (Net)	1000K	1000K	1000K	-94K	1000K	1000K	1000K	1000K	1000K	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	-94K	-54K	-6K	0	0	0	0
Other Financing	283K	519K	3.96M	1.22M	4.67M	12.34M	0	8M	2M	488M
Net Change in Cash	18.3M	33.27M	-27.36M	-13.13M	115.48M	-22.7M	58.09M	-79M	23M	72M
Free Cash Flow+	-17.04M	-30.57M	-46.74M	-75.39M	108.11M	-282.25M	432M	-330M	-176M	-484M
FCF Margin %	-	-2163.69%	-559.55%	-502.58%	138.61%	-73.69%	385.71%	-282.05%	-68.22%	-195.95%
FCF Growth %	-	-79.39%	-52.88%	-61.29%	243.41%	-361.06%	253.06%	-176.39%	46.67%	-175%
FCF per Share	-0.69	-1.25	-1.35	-1.72	1.97	-3.82	6.00	-4.46	-1.95	-4.51
FCF Conversion (FCF/Net Income)	0.72x	0.47x	0.87x	0.87x	-0.90x	-4.83x	-1.64x	1.00x	0.60x	1.37x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-18.07%	-41.91%	-25.51%	-42.48%	-36.93%	7.89%	-35.64%	-54.87%	-59.77%	-63.26%
Return on Invested Capital (ROIC)	-	-89.32%	-37.52%	-49.32%	-41.07%	6.97%	-30.29%	-55.62%	-66.8%	-64.12%
Gross Margin	-	100%	100%	100%	100%	100%	100%	100%	100%	-
Net Margin	-	-3756.69%	-593.73%	-564.73%	-157.69%	13.84%	-238.39%	-262.39%	-109.69%	-142.91%
Debt / Equity	-	-	-	-	0.04x	0.14x	0.18x	0.02x	0.12x	0.16x
Interest Coverage	-	-	-	-	-	-	-140.00x	-170.00x	-82.50x	-
FCF Conversion	0.72x	0.47x	0.87x	0.87x	-0.90x	-4.83x	-1.64x	1.00x	0.60x	1.37x
Revenue Growth	-	-	491.15%	79.58%	420%	391.03%	-70.76%	4.46%	120.51%	-4.26%

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Arcus Biosciences, Inc. (RCUS) 10-Year Financial Performance & Capital Metrics

RCUS •

HealthcareBiotechnologyOncology Therapeutics Developers

Revenue $247M -4.3%
EBITDA -$386M -20.6%
Net Income -$353M -24.7%
EPS (Diluted) -3.29 -4.8%
Gross Margin -
EBITDA Margin -156.28% -26.0%
Operating Margin -156.28% -22.2%
Net Margin -142.91% -30.3%
ROE -63.26% -5.8%
ROIC -64.12% +4.0%
Debt/Equity 0.16 +26.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 88 (top 12%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 25.9%

✗Weaknesses

✗Weak Piotroski F-Score: 0/9
✗Negative free cash flow
✗Shares diluted 19.2% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y25.93%

3Y30.16%

TTM-4.26%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-24.73%

EPS CAGR

10Y-

5Y-

3Y-

TTM-5.91%

ROCE

10Y Avg-27.85%

5Y Avg-25.52%

3Y Avg-37.02%

Latest-42.14%

Peer Comparison

Oncology Therapeutics Developers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EXELExelixis, Inc.	11.81B	44.06	15.85	6.98%	29.63%	31.37%	7.49%	0.08
INCYIncyte Corporation	20.1B	101.27	15.80	21.22%	25.03%	24.9%	6.74%	0.01
GMABGenmab A/S	18.13B	29.44	15.36	30.67%	46.8%	114.25%	6.6%	0.03
SNDXSyndax Pharmaceuticals, Inc.	1.89B	21.71	-5.82		-279.31%	-269.93%		1.20
RCUSArcus Biosciences, Inc.	2.55B	20.37	-6.19	-4.26%	-142.91%	-55.94%		0.16
RLAYRelay Therapeutics, Inc.	1.78B	10.26	-6.37	53.44%	-18.01%	-48.76%		0.06
STROSutro Biopharma, Inc.	1.74B	20.47	-6.92	-59.64%	-205.18%	-234.19%		4.57
OLMAOlema Pharmaceuticals, Inc.	1.66B	24.20	-11			-48.77%		0.00

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	0	1.41M	8.35M	15M	78M	383M	112M	117M	258M	247M
Revenue Growth %	-	-	491.15%	79.58%	420%	391.03%	-70.76%	4.46%	120.51%	-4.26%
Cost of Goods Sold+	1.31M	0	0	0	0	0	0	0	0	0
COGS % of Revenue	-	-	-	-	-	-	-	-	-	-
Gross Profit+	-1.31M	1.41M	8.35M	15M	78M	383M	112M	117M	258M	0
Gross Margin %	-	100%	100%	100%	100%	100%	100%	100%	100%	-
Gross Profit Growth %	-	207.53%	491.15%	79.58%	420%	391.03%	-70.76%	4.46%	120.51%	-100%
Operating Expenses+	18.18M	54.85M	63.21M	103.71M	202M	329M	392M	457M	588M	633M
OpEx % of Revenue	-	3882.09%	756.76%	691.39%	258.97%	85.9%	350%	390.6%	227.91%	256.28%
Selling, General & Admin	3.94M	7.64M	13.57M	25.23M	43M	72M	104M	117M	120M	110M
SG&A % of Revenue	-	540.41%	162.41%	168.19%	55.13%	18.8%	92.86%	100%	46.51%	44.53%
Research & Development	14.25M	47.22M	49.65M	78.48M	159M	257M	288M	340M	448M	523M
R&D % of Revenue	-	3341.68%	594.35%	523.21%	203.85%	67.1%	257.14%	290.6%	173.64%	211.74%
Other Operating Expenses	0	0	0	0	0	0	0	0	20M	0
Operating Income+	-18.18M	-53.44M	-54.86M	-88.71M	-124M	54M	-280M	-340M	-330M	-386M
Operating Margin %	-	-3782.09%	-656.76%	-591.39%	-158.97%	14.1%	-250%	-290.6%	-127.91%	-156.28%
Operating Income Growth %	-	-193.92%	-2.65%	-61.7%	-39.78%	143.55%	-618.52%	-21.43%	2.94%	-16.97%
EBITDA+	-16.87M	-50.83M	-51.2M	-85.13M	-121M	58M	-274M	-332M	-320M	-386M
EBITDA Margin %	-	-3597.24%	-612.89%	-567.54%	-155.13%	15.14%	-244.64%	-283.76%	-124.03%	-156.28%
EBITDA Growth %	-	-201.33%	-0.72%	-66.29%	-42.13%	147.93%	-572.41%	-21.17%	3.61%	-20.63%
D&A (Non-Cash Add-back)	1.31M	2.61M	3.66M	3.58M	3M	4M	6M	8M	10M	0
EBIT	-18.18M	-53.44M	-54.86M	-84.71M	-123M	55M	-264M	-299M	-279M	0
Net Interest Income+	0	775K	4.92M	5.2M	1M	1M	14M	39M	48M	0
Interest Income	212K	775K	4.92M	5.2M	1M	1M	16M	41M	52M	0
Interest Expense	0	0	0	0	0	0	2M	2M	4M	-8M
Other Income/Expense	212K	359K	5.26M	4M	1M	1M	14M	39M	47M	33M
Pretax Income+	-17.97M	-53.08M	-49.59M	-84.71M	-123M	55M	-266M	-301M	-283M	-353M
Pretax Margin %	-	-3756.69%	-593.73%	-564.73%	-157.69%	14.36%	-237.5%	-257.26%	-109.69%	-142.91%
Income Tax+	0	0	0	0	0	2M	1M	6M	1M	0
Effective Tax Rate %	100%	100%	100%	100%	100%	96.36%	100.38%	101.99%	100%	100%
Net Income+	-17.97M	-53.08M	-49.59M	-84.71M	-123M	53M	-267M	-307M	-283M	-353M
Net Margin %	-	-3756.69%	-593.73%	-564.73%	-157.69%	13.84%	-238.39%	-262.39%	-109.69%	-142.91%
Net Income Growth %	-	-195.39%	6.57%	-70.81%	-45.2%	143.09%	-603.77%	-14.98%	7.82%	-24.73%
Net Income (Continuing)	-17.97M	-53.08M	-49.59M	-84.71M	-123M	53M	-267M	-307M	-284M	-353M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.73	-2.16	-1.43	-1.73	-2.13	0.71	-3.71	-4.15	-3.14	-3.29
EPS Growth %	-	-195.89%	33.8%	-20.98%	-23.12%	133.33%	-622.54%	-11.86%	24.34%	-4.78%
EPS (Basic)	-0.73	-2.16	-1.43	-1.73	-2.13	0.76	-3.71	-4.15	-3.14	-3.29
Diluted Shares Outstanding	24.55M	24.55M	34.62M	43.83M	54.79M	73.97M	72M	74M	90.1M	107.4M
Basic Shares Outstanding	24.55M	24.55M	34.62M	43.83M	54.79M	69.35M	72M	74M	90.1M	107.4M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	99.69M	176.87M	258.95M	192.71M	735.82M	1.26B	1.07B	831M	1.02B	1.01B
Cash & Short-Term Investments	98.9M	175.7M	256.54M	188.27M	728.65M	499.31M	1.01B	759M	978M	981M
Cash Only	65.16M	98.43M	71.06M	57.94M	173.41M	147.91M	206M	127M	150M	222M
Short-Term Investments	33.74M	77.28M	185.48M	130.33M	555.23M	351.39M	803M	632M	828M	759M
Accounts Receivable	405K	25K	83K	132K	1.7M	746.82M	43M	42M	25M	0
Days Sales Outstanding	-	6.46	3.63	3.21	7.95	711.72	140.13	131.03	35.37	-
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	251K	4.47M	14.72M	14M	30M	13M	26M
Total Non-Current Assets+	10.01M	13.62M	15.98M	10.4M	36.48M	330.15M	279M	264M	134M	132M
Property, Plant & Equipment	8.61M	11.23M	11.11M	9.33M	23.59M	137.42M	135M	51M	47M	40M
Fixed Asset Turnover	-	0.13x	0.75x	1.61x	3.31x	2.79x	0.83x	2.29x	5.49x	6.18x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	1M	682K	4.38M	0	6.64M	185M	134M	107M	14M	0
Other Non-Current Assets	403K	1.71M	487K	1.07M	6.25M	7.73M	10M	106M	73M	92M
Total Assets+	109.7M	190.49M	274.93M	203.11M	772.29M	1.59B	1.34B	1.09B	1.15B	1.14B
Asset Turnover	-	0.01x	0.03x	0.07x	0.10x	0.24x	0.08x	0.11x	0.22x	0.22x
Asset Growth %	-	73.64%	44.33%	-26.12%	280.23%	106.13%	-15.51%	-18.59%	5.02%	-0.96%
Total Current Liabilities+	5.55M	12.73M	16.93M	22.71M	121.67M	166.08M	193M	184M	226M	231M
Accounts Payable	3.87M	3.82M	3.1M	4.7M	15.68M	10.26M	20M	17M	18M	0
Days Payables Outstanding	1.07K	-	-	-	-	-	-	-	-	-
Short-Term Debt	0	0	0	0	2.87M	5.1M	3M	0	0	0
Deferred Revenue (Current)	0	5M	6.25M	7M	74.57M	102M	97M	91M	85M	35M
Other Current Liabilities	682K	769K	1.56M	6.43M	19.92M	30.26M	48M	39M	14M	196M
Current Ratio	17.98x	13.90x	15.29x	8.49x	6.05x	7.60x	5.52x	4.52x	4.50x	4.36x
Quick Ratio	17.98x	13.90x	15.29x	8.49x	6.05x	7.60x	5.52x	4.52x	4.50x	4.36x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	4.7M	23.89M	23.05M	16.56M	148.32M	584.36M	495M	449M	439M	277M
Long-Term Debt	0	0	0	0	0	0	0	0	48M	99M
Capital Lease Obligations	0	0	0	0	15.24M	116.89M	117M	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	4.7M	5.3M	6.06M	4.54M	10.25M	5.26M	23M	142M	157M	178M
Total Liabilities	10.24M	36.62M	39.98M	39.27M	269.99M	750.45M	688M	633M	665M	508M
Total Debt+	0	0	0	0	18.11M	121.99M	120M	11M	60M	99M
Net Debt	-65.16M	-98.43M	-71.06M	-57.94M	-155.31M	-25.93M	-86M	-116M	-90M	-123M
Debt / Equity	-	-	-	-	0.04x	0.14x	0.18x	0.02x	0.12x	0.16x
Debt / EBITDA	-	-	-	-	-	2.10x	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-0.45x	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-140.00x	-170.00x	-82.50x	-
Total Equity+	99.46M	153.87M	234.94M	163.84M	502.3M	841.45M	657M	462M	485M	631M
Equity Growth %	-	54.7%	52.69%	-30.26%	206.58%	67.52%	-21.92%	-29.68%	4.98%	30.1%
Book Value per Share	4.05	6.27	6.79	3.74	9.17	11.38	9.13	6.24	5.38	5.88
Total Shareholders' Equity	99.46M	153.87M	234.94M	163.84M	502.3M	841.45M	657M	462M	485M	631M
Common Stock	1K	3K	4K	4K	6K	7K	1.21B	1.31B	1.62B	2.12B
Retained Earnings	-20.15M	-73.23M	-122.83M	-205.33M	-328.18M	-275.35M	-542M	-849M	-1.13B	-1.49B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-26K	-42K	-107K	64K	44K	-1.26M	-7M	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-12.94M	-25.06M	-43M	-73.46M	111.17M	-256.17M	438M	-306M	-170M	-482M
Operating CF Margin %	-	-1773.46%	-514.74%	-489.75%	142.53%	-66.89%	391.07%	-261.54%	-65.89%	-195.14%
Operating CF Growth %	-	-93.6%	-71.58%	-70.86%	251.33%	-330.43%	270.98%	-169.86%	44.44%	-183.53%
Net Income	-17.97M	-53.08M	-49.59M	-84.71M	-122.86M	52.83M	-267M	-307M	-283M	-353M
Depreciation & Amortization	1.31M	2.61M	3.66M	3.58M	4.19M	3.84M	14M	8M	10M	10M
Stock-Based Compensation	90K	495K	3.87M	8.98M	22M	55M	0	73M	76M	60M
Deferred Taxes	-90K	416K	-2.1M	0	0	4.77M	0	0	0	0
Other Non-Cash Items	90K	-98K	-177K	-1.44M	-46K	3.47M	68M	-9M	5M	-199M
Working Capital Changes	3.62M	24.6M	1.33M	125K	208.06M	-375.62M	623M	-71M	22M	0
Change in Receivables	0	380K	-58K	-49K	-917K	-17.05M	704M	15M	28M	0
Change in Inventory	0	0	0	0	21.32M	14.09M	0	0	0	0
Change in Payables	3.57M	-267K	-69K	1.73M	9.27M	-4.77M	8M	-1M	3M	24M
Cash from Investing+	-38.86M	-49.07M	-113.44M	59.21M	-434.37M	-3.87M	-413M	194M	-84M	66M
Capital Expenditures	-4.1M	-5.51M	-3.74M	-1.93M	-3.06M	-26.08M	-6M	-24M	-6M	-2M
CapEx % of Revenue	-	390.23%	44.81%	12.83%	3.92%	6.81%	5.36%	20.51%	2.33%	0.81%
Acquisitions	-1M	0	0	0	431M	-22M	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1M	-43.56M	-109.7M	0	-431M	22M	-3M	0	0	0
Cash from Financing+	70.1M	107.4M	129.07M	1.12M	438.68M	237.34M	33M	33M	277M	488M
Debt Issued (Net)	0	0	0	0	0	5M	10M	0	47M	0
Equity Issued (Net)	1000K	1000K	1000K	-94K	1000K	1000K	1000K	1000K	1000K	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	-94K	-54K	-6K	0	0	0	0
Other Financing	283K	519K	3.96M	1.22M	4.67M	12.34M	0	8M	2M	488M
Net Change in Cash	18.3M	33.27M	-27.36M	-13.13M	115.48M	-22.7M	58.09M	-79M	23M	72M
Free Cash Flow+	-17.04M	-30.57M	-46.74M	-75.39M	108.11M	-282.25M	432M	-330M	-176M	-484M
FCF Margin %	-	-2163.69%	-559.55%	-502.58%	138.61%	-73.69%	385.71%	-282.05%	-68.22%	-195.95%
FCF Growth %	-	-79.39%	-52.88%	-61.29%	243.41%	-361.06%	253.06%	-176.39%	46.67%	-175%
FCF per Share	-0.69	-1.25	-1.35	-1.72	1.97	-3.82	6.00	-4.46	-1.95	-4.51
FCF Conversion (FCF/Net Income)	0.72x	0.47x	0.87x	0.87x	-0.90x	-4.83x	-1.64x	1.00x	0.60x	1.37x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-18.07%	-41.91%	-25.51%	-42.48%	-36.93%	7.89%	-35.64%	-54.87%	-59.77%	-63.26%
Return on Invested Capital (ROIC)	-	-89.32%	-37.52%	-49.32%	-41.07%	6.97%	-30.29%	-55.62%	-66.8%	-64.12%
Gross Margin	-	100%	100%	100%	100%	100%	100%	100%	100%	-
Net Margin	-	-3756.69%	-593.73%	-564.73%	-157.69%	13.84%	-238.39%	-262.39%	-109.69%	-142.91%
Debt / Equity	-	-	-	-	0.04x	0.14x	0.18x	0.02x	0.12x	0.16x
Interest Coverage	-	-	-	-	-	-	-140.00x	-170.00x	-82.50x	-
FCF Conversion	0.72x	0.47x	0.87x	0.87x	-0.90x	-4.83x	-1.64x	1.00x	0.60x	1.37x
Revenue Growth	-	-	491.15%	79.58%	420%	391.03%	-70.76%	4.46%	120.51%	-4.26%

Arcus Biosciences, Inc. (RCUS) 10-Year Financial Performance & Capital Metrics

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Arcus Biosciences, Inc. (RCUS) 10-Year Financial Performance & Capital Metrics

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✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

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Peer Comparison

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