Arcus Biosciences, Inc.
RCUS Healthcare Biotechnology
Arcus Biosciences, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $247.0 million, down 4.26% from fiscal 2024. In the quarter to June 2026, revenue fell 74.4%, EPS was flat, free cash flow grew 10.5% and total debt rose 4.12%, each against the same quarter a year earlier.
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Arcus Biosciences, Inc. (RCUS) Altman Z-score
Arcus Biosciences, Inc.'s Altman Z-score for fiscal 2025 is 1.11, 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 | 1.11 | 1.18 |
| FY2024 | −0.07 | (0.11) |
| FY2023 | 0.05 | (0.86) |
| FY2022 | 0.91 | (2.27) |
| FY2021 | 3.18 | 0.09 |
| FY2020 | 3.09 | (1.89) |
| FY2019 | 4.99 | (0.41) |
| FY2018 | 5.40 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.68 | — | 0.82 | |
| Retained earnings / total assets | (1.30) | — | −1.83 | |
| EBIT / total assets | (0.34) | — | −1.12 | |
| Market value of equity / total liabilities | 5.04 | — | 3.02 | |
| Sales / total assets | 0.22 | — | 0.22 | |
| Altman Z-score | Distress zone | 1.11 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −0.75 | ||
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 |
|---|---|
| IDYA IDEAYA Biosciences, Inc. compare | 20.7× |
| DNLI Denali Therapeutics Inc. compare | 13.8× |
| NRIX Nurix Therapeutics, Inc. compare | 3.8× |
| RCUS Arcus Biosciences, Inc. | 1.1× |
| ZLAB Zai Lab Limited Unsponsored ADR compare | −0.2× |
| PGEN Precigen, Inc. compare | −16.9× |
| ELVN Enliven Therapeutics, Inc. compare | — |
| DYN Dyne Therapeutics, Inc. compare | — |
| CELC Celcuity, 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