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.

Revenue
+45.1%
EPS
+12.0%
Free cash flow
+1,171.9%
Total debt
+0.83%

Quarter to September 2026, against a year earlier

25.55 1.45 −5.37%
Market cap
$3.4B
P/E
112×
Fwd P/E
81.2×
Dividend yield
—
F-score
4/9
Altman Z
6.98
Beneish M
−1.52
Dividend safety
n/a

Arcutis Biotherapeutics, Inc. (ARQT) Operating margin

Alert me on Operating margin

Arcutis Biotherapeutics, Inc.'s operating margin over the twelve months to 30 September 2026 was 6.91%, up 10.2 percentage points from fiscal 2025 (−3.25%). Over the past ten years it has ranged from −8,183.0% (fiscal 2022) to 0.00% (fiscal 2021); the current reading is higher than 44% of that period. That is above the Biotechnology industry median of 0.00% and above the Healthcare sector median of 0.00%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 −3.25% 62.08
FY2024 −65.3% 339.16
FY2023 −404.5% 7,778.55
FY2022 −8,183.0% (8,183.04)
FY2021 0.00% 0.00
FY2020 0.00% 0.00
FY2019 0.00% 0.00
FY2018 0.00% 0.00
FY2017 0.00% —

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 6.56% (6.09)
Jun 2026 12.7% 21.27
Mar 2026 −8.62% (22.82)
Dec 2025 14.2% 5.61
27 more quarters

Against its own ten years

Low −8,183.0% High 0.00%
Ten-year median 0.00%
Current reading's percentile 93

Operating margin against peers

Company Operating margin
ARQT Arcutis Biotherapeutics, Inc. 6.91%
EWTX Edgewise Therapeutics, Inc. compare 0.00%
TNGX Tango Therapeutics, Inc. compare 0.00%
DFTX Definium Therapeutics, Inc. compare 0.00%
LEGN Legend Biotech Corporation Sponsored ADR compare −5.06%
IOVA Iovance Biotherapeutics, Inc. compare −60.8%
ABCL AbCellera Biologics Inc. compare −340.3%
RLAY Relay Therapeutics, Inc. compare −2,815.5%
DNTH Dianthus Therapeutics, Inc. compare −8,683.9%
Biotechnology industry median 0.00%
Healthcare sector median 0.00%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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