Arcutis Biotherapeutics, Inc.

ARQT Healthcare Biotechnology

Arcutis Biotherapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $376.1 million, up 91.3% from fiscal 2024. In the quarter to June 2026, revenue grew 59.3%, EPS grew 184.6%, free cash flow grew 228.0% and total debt was flat, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three.

28.82 0.28 −0.96%
Market cap
$3.7B
P/E
131×
Fwd P/E
196×
Dividend yield
—
F-score
4/9
Altman Z
6.98
Beneish M
−1.52
Dividend safety
n/a
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17
Piotroski F-Score
4 4 — — — — — — —
P/E ratio
0.00 0.00 0.00 0.00 — — — — —
P/S ratio
9.82 8.57 3.99 0.00 — — — — —
Altman Z-Score
6.98 1.01 (4.65) (1.34) — — — — —
Altman Z″-Score (non-manufacturers)
(3.68) (7.30) (8.30) (2.98) — — — — —
P/FCF ratio
0.00 0.00 0.00 0.00 — — — — —
Beneish M-Score
(1.52) (0.63) 10.15 — — — — — —
P/Operating CF
141.11 (2,252.60) (4.23) (11.44) — — — — —
P/B ratio
19.50 10.70 2.68 3.88 — — — — —
Price to Tangible BV
21.15 11.38 2.89 4.02 — — — — —
EV/Sales
9.53 8.46 2.81 0.00 — — — — —
EV/EBITDA
0.00 0.00 0.00 0.00 — — — — —
EV/Operating CF
(636.90) (14.83) (0.68) (2.33) — — — — —
EV/FCF
(168.11) (13.32) (0.68) (2.20) — — — — —
Quick Ratio
2.83 3.72 6.40 11.09 11.67 12.68 19.34 19.06 4.94
Current Ratio
3.17 4.15 7.08 11.57 12.09 12.96 20.33 19.12 5.52
Net Debt/EBITDA
11.64 0.91 0.29 0.70 1.56 2.06 2.33 2.58 0.83
Debt/Assets
25.17% 30.73% 59.12% 44.17% 17.83% 1.66% 0.29% 0.00% 0.00%
Debt/Equity
0.58 0.68 2.28 0.95 0.24 0.02 0.00 0.00 0.00
Asset Turnover
0.96 0.57 0.15 0.01 0.00 0.00 0.00 0.00 0.00
Operating CF/Net income
0.35 0.80 0.94 0.83 0.85 0.83 1.02 0.73 0.76
Capex/Depreciation
(4.15) 1.04 0.07 17.65 (0.25) (1.65) 1.03 0.00 —
Interest Coverage
(1.01) (4.73) (8.11) (19.27) — — — — —
ROE
(9.30%) (113.76%) (175.79%) (122.80%) (72.62%) (131.99%) 94.36% 132.88% 34.35%
ROA
(4.13%) (40.58%) (66.31%) (72.65%) (58.42%) (66.96%) (53.12%) (75.36%) (18.13%)
ROIC
(9.91%) (221.85%) (852.31%) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Tangible Assets
(5.71%) (54.74%) (91.88%) (77.58%) (55.52%) (49.84%) (41.39%) (39.76%) (159.19%)
Average Days of Receivables
141.92 135.69 158.03 837.54 0.00 0.00 — — —
Research and Development Expense of Revenue
20.49% 38.88% 185.51% 4,949.40% 0.00% 0.00% 0.00% 0.00% 0.00%
Selling, General and Administrative Expense of Revenue
73.01% 116.71% 310.61% 3,313.19% 0.00% 0.00% 0.00% 0.00% 0.00%
Intangible Assets out of Total Assets
0.03 0.03 0.02 0.02 0.00 0.00 0.00 0.00 0.00
Share Based Compensation of Revenue
10.73% 21.23% 65.12% 886.65% 0.00% 0.00% 0.00% 0.00% 0.00%
Graham Net Nets
0.05 0.09 0.33 0.24 — — — — —
Graham Number
0.00 0.00 0.00 0.00 — — — — —
Earnings Yield
(0.45%) (8.33%) (114.29%) (38.25%) — — — — —
Free Cash Flow Yield
(0.58%) (7.41%) (104.11%) (33.65%) — — — — —
Revenue per Share
2.96 1.62 0.86 0.07 0.00 0.00 0.00 0.00 0.00
Operating CF per Share
(0.04) (0.93) (3.56) (4.68) (3.53) (3.17) (23.24) (11.36) (5.43)
Capex per Share
(0.08) (0.04) (0.01) (0.42) (0.02) (0.01) (0.16) 0.00 0.00
Free Cash Flow per Share
(0.13) (0.97) (3.57) (5.11) (3.55) (3.18) (23.40) (11.36) (5.43)
Cash per Share
1.74 1.89 3.94 7.47 7.87 8.02 54.94 41.09 4.92
Shareholders Equity per Share
1.49 1.30 1.28 3.81 6.03 7.59 (35.28) (19.35) 0.00
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
1.49 1.30 1.28 3.81 6.03 7.59 (35.28) (19.35) 0.00
Free Cash Flow
(16.31) (117.30) (247.48) (281.00) (175.62) (113.35) (43.13) (14.08) (3.77)
Working Capital
281.39 254.81 283.76 399.60 369.45 270.22 101.24 48.43 3.13
Capital Expenditures
(10.69) (5.14) (0.43) (23.28) (0.99) (0.32) (0.29) — —
Net Current Asset Value
167.74 144.47 77.73 197.71 292.30 265.18 (65.57) (23.99) 3.82
EV/EBIT
0.00 0.00 0.00 0.00 — — — — —
Capex to Sales
0.03 0.03 0.01 6.32 0.00 0.00 0.00 — —
Price to Operating Income
0.00 0.00 0.00 0.00 — — — — —
Other line items
Depreciation/Fixed assets
2.47 (4.75) (4.05) (0.70) 1.73 0.10 (1.26) 0.00 —
Cash ROIC
(3.14%) (23.78%) (43.94%) (34.32%) (23.14%) (20.19%) (118.03%) (52.26%) (110.44%)
Accounts Receivable Turnover
3.43 3.98 3.48 0.84 0.00 0.00 — — —
Accounts Payable Turnover
2.74 1.46 0.48 0.09 0.11 0.11 0.12 0.00 0.00
Inventory Turnover
1.98 1.38 0.48 0.00 0.00 0.00 0.00 — —
Average Days of Payables
124.61 271.35 877.70 4,273.02 3,517.49 5,727.69 2,629.87 0.00 0.00
Days of Inventory on Hand
225.14 277.18 961.28 3,637.41 0.00 0.00 0.00 — —
Average Receivables
109.65 49.44 17.13 4.41 0.44 0.44 — — —
Average Payables
13.37 13.11 10.41 8.09 7.25 4.27 1.60 1.17 1.17
Average Inventory
18.58 13.83 10.32 — — — — — —
Average Assets
390.93 345.13 395.32 428.71 353.21 202.64 79.06 25.55 27.46
Average Common Equity
173.51 123.10 149.12 253.63 284.15 102.80 (44.51) (14.49) (14.49)

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Columns are period end dates