Arvinas, Inc.
ARVN Healthcare Biotechnology
Arvinas, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $262.6 million, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 1,014.7%, EPS grew 410.7%, free cash flow grew 49.8% and total debt fell 40.0%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Arvinas, Inc. (ARVN) Altman Z-score
Arvinas, Inc.'s Altman Z-score for fiscal 2025 is −0.61, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.61 | (0.62) |
| FY2024 | 0.00 | (0.68) |
| FY2023 | 0.68 | (0.12) |
| FY2022 | 0.80 | (2.30) |
| FY2021 | 3.10 | (23.28) |
| FY2020 | 26.38 | 16.68 |
| FY2019 | 9.70 | 10.27 |
| FY2018 | −0.58 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.78 | — | 0.93 | |
| Retained earnings / total assets | (2.25) | — | −3.14 | |
| EBIT / total assets | (0.17) | — | −0.54 | |
| Market value of equity / total liabilities | 2.96 | — | 1.78 | |
| Sales / total assets | 0.37 | — | 0.37 | |
| Altman Z-score | Distress zone | −0.61 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.73 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| OCS Oculis Holding AG compare | 10.5× |
| ALT Altimmune, Inc. compare | 0.2× |
| OVID Ovid Therapeutics compare | 0.2× |
| ARVN Arvinas, Inc. | −0.6× |
| AUTL Autolus Therapeutics PLC Sponsored ADR compare | −3.2× |
| ALLO Allogene Therapeutics, Inc. compare | −3.7× |
| MPLT MapLight Therapeutics, Inc. compare | — |
| EPRX Eupraxia Pharmaceuticals Inc. compare | — |
| CTNM Contineum Therapeutics, Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets