Arcus Biosciences, Inc. (RCUS) intrinsic value & 10-year financials
Arcus Biosciences, Inc. (RCUS) has a Graham intrinsic value of $23.58 per share. At $22.12 on Oct 17, 2026, the stock trades 6% below that value. Over the last 10 fiscal years revenue grew 48.3% a year to $33.0M, with an average return on invested capital of -46.2%.
- Graham intrinsic value
- $23.58
- Share price (Oct 17, 2026)
- $22.12
- Price vs Graham value
- 6% below
- Market cap
- $2.4B
- Revenue (FY2025)
- $33.0M
- Revenue growth (10-yr CAGR)
- 48.3%
- ROIC (10-yr avg)
- -46.2%
- Free cash flow (FY2025)
- -$484.0M
RCUS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $33.0M | -$353.0M | -$3.29 | -$484.0M | -1169.7% | -71.7% |
| FY2024 | $51.0M | -$283.0M | -$3.14 | -$176.0M | -647.1% | -71.2% |
| FY2023 | $117.0M | -$307.0M | -$4.15 | -$330.0M | -290.6% | -67.1% |
| FY2022 | $112.0M | -$267.0M | -$3.71 | $432.0M | -250.0% | -40.6% |
| FY2021 | $382.9M | $52.8M | $0.71 | -$282.2M | 14.2% | 9.1% |
| FY2020 | $77.5M | -$122.9M | -$2.24 | $108.1M | -160.3% | -35.7% |
| FY2019 | $15.0M | -$84.7M | -$1.93 | -$75.4M | -591.4% | — |
| FY2018 | $8.4M | -$49.6M | — | -$46.7M | -656.8% | — |
| FY2017 | $1.4M | -$53.1M | — | -$30.6M | -3782.1% | — |
| FY2016 | — | -$18.0M | — | -$17.0M | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Arcus Biosciences, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Arcus Biosciences, Inc. has historically struggled to out-earn its cost of capital, averaging just -46.2% ROIC.
Arcus Biosciences, 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, Arcus Biosciences, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $23.58 per share.