Revolution Medicines, Inc.
RVMD Healthcare Biotechnology
Revolution Medicines, Inc.’s revenue for fiscal 2023 (year ended December 2023) was $11.6 million, down 67.3% from fiscal 2022. In the quarter to June 2026, EPS fell 133.6%, free cash flow fell 70.0% and total debt rose 322.7%, each against the same quarter a year earlier.
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Revolution Medicines, Inc. (RVMD) Piotroski F-score
Revolution Medicines, Inc.'s Piotroski F-score for fiscal 2023 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2022.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2023 | 4 | 0.00 |
| FY2022 | 4 | 2.00 |
| FY2021 | 2 | (1.00) |
| FY2020 | 3 | — |
How fiscal 2023’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (30.37%) | (32.09%) | Fail | 0 |
| Positive operating cash flow | (350.57m) | (224.40m) | Fail | 0 |
| Rising return on assets | (30.37%) | (32.09%) | Pass | 1 |
| Cash flow above net income | 85.80m | 24.30m | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.07 | Pass | 1 |
| Rising current ratio | 13.06 | 10.65 | Pass | 1 |
| No new shares issued | 113,150,000 | 80,627,000 | Fail | 0 |
| Rising gross margin | 100.00% | 100.00% | Fail | 0 |
| Rising asset turnover | 0.01 | 0.05 | Fail | 0 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| INCY Incyte Corporation compare | 9 |
| ONC BeOne Medicines Ltd. - Sponsored ADR compare | 7 |
| ALNY Alnylam Pharmaceuticals, Inc. compare | 6 |
| ARGX argenex SE compare | 5 |
| RPRX Royalty Pharma PLC compare | 5 |
| GMAB Genmab A/S Sponsored ADR compare | 4 |
| RVMD Revolution Medicines, Inc. | 4 |
| BNTX BioNTech SE Sponsored ADR compare | 4 |
| ROIV Roivant Sciences Ltd. compare | 2 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover