Arcutis Biotherapeutics, Inc. (ARQT) intrinsic value & 10-year financials
Arcutis Biotherapeutics, Inc. (ARQT) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 365.6% a year to $372.1M, with an average return on invested capital of -62.1%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $28.82
- Market cap
- $3.7B
- Revenue (FY2025)
- $372.1M
- Revenue growth (9-yr CAGR)
- 365.6%
- ROIC (10-yr avg)
- -62.1%
- Free cash flow (FY2025)
- -$6.3M
ARQT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $372.1M | -$16.1M | -$0.13 | -$6.3M | -3.3% | -5.4% |
| FY2024 | $166.5M | -$140.0M | -$1.16 | -$112.3M | -77.1% | -64.0% |
| FY2023 | $59.6M | -$262.1M | -$3.78 | -$247.5M | -404.5% | -85.6% |
| FY2022 | $3.7M | -$311.5M | -$5.66 | -$258.0M | -8183.0% | -94.8% |
| FY2021 | $0 | -$206.4M | -$4.18 | -$175.6M | — | -84.5% |
| FY2020 | $0 | -$135.7M | -$3.80 | -$113.4M | — | -332.2% |
| FY2019 | — | -$42.0M | -$1.14 | -$43.1M | — | 33.6% |
| FY2018 | — | -$19.3M | — | — | — | 136.2% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Arcutis Biotherapeutics, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Arcutis Biotherapeutics, Inc. has historically struggled to out-earn its cost of capital, averaging just -43.4% ROIC.
Arcutis Biotherapeutics, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Arcutis Biotherapeutics, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-4.32 per share.