Arrowhead Pharmaceuticals, Inc. (ARWR) Balance Sheet
ARWR balance sheet, FY2025
September 30, 2025 · U.S. dollars$1.39B assets = $881.9M liabilities + $503.4M equity
Both columns are drawn to the same scale: what ARWR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ARWR financial health
Descriptive bands, not a rating. Fiscal FY2025.
ARWR balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $128.2MFY2016 | $1.39BFY2025 | +30.3%/yr | |
| Total liabilities | $33.2MFY2016 | $881.9MFY2025 | +44.0%/yr | |
| Shareholders’ equity | $95.6MFY2016 | $466.1MFY2025 | +19.2%/yr | |
| Cash & short-term investments | $85.4MFY2016 | $919.4MFY2025 | +30.2%/yr | |
| Total debt | $2.7MFY2016 | $366.3MFY2025 | +72.4%/yr | |
| Net cash (debt) | $82.6MFY2016 | $553.1MFY2025 | +$470.4M | |
| Working capital | $64.9MFY2016 | $755.2MFY2025 | +$690.3M | |
| Book value per share | $1.57FY2016 | $3.48FY2025 | +9.3%/yr | |
| Current ratio | 3.53FY2016 | 4.86FY2025 | +1.33 | |
| Debt / equity | 0.03FY2016 | 0.79FY2025 | +0.76 | |
| Shares outstanding | 61.1MFY2016 | 133.8MFY2025 | +9.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ARWR assets
ARWR liabilities and equity
ARWR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ARWR balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $919.4M | $681.0M | $403.6M | $376.4M | $367.8M | $315.5M | $258.7M | $76.5M | $65.6M | $85.4M |
| Cash & equivalents | $226.5M | $102.7M | $110.9M | $108.0M | $184.4M | $143.6M | $221.8M | $30.1M | $24.8M | $85.4M |
| Short-term investments | $692.8M | $578.3M | $292.7M | $268.4M | $183.4M | $171.9M | $36.9M | $46.4M | $40.8M | $0 |
| Receivables | $6.8M | $0 | $0 | $1.4M | $10.3M | $845,673 | $661,361 | $327,375 | $67,797 | $75,000 |
| Inventory | $0 | $0 | $0 | −$21.6M | $4.4M | $4.3M | $3.3M | $1.3M | $867,363 | $1.3M |
| Other current assets | $24.4M | $14.5M | $15.9M | $49.1M | $2.2M | $1.8M | $2.6M | $640,117 | $1.4M | $3.8M |
| Total current assets | $950.6M | $695.5M | $419.5M | $405.3M | $384.6M | $322.4M | $265.2M | $78.8M | $67.9M | $90.5M |
| Property, plant & equipment (net) | $426.4M | $431.3M | $335.6M | $168.6M | $66.0M | $47.0M | $23.2M | $13.9M | $15.5M | $15.4M |
| Goodwill & intangible assets | $6.9M | $8.6M | $10.3M | $12.0M | $13.7M | $30.7M | $34.1M | $37.5M | $40.9M | $44.3M |
| Long-term investments | $0 | $0 | $292.7M | $105.9M | $245.6M | $137.5M | $44.2M | $0 | $0 | $0 |
| Other non-current assets | $1.4M | $4.5M | $0 | $218,000 | $272,000 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $1.39B | $1.14B | $765.6M | $691.9M | $710.1M | $522.5M | $349.8M | $111.6M | $104.0M | $128.2M |
| Liabilities | ||||||||||
| Accounts payable | $17.7M | $11.4M | $35.9M | $2.9M | $9.5M | $6.8M | $7.6M | $2.8M | $4.1M | $12.2M |
| Short-term debt | $47.3M | $6.3M | $10.6M | $2.8M | $2.2M | $1.1M | $11.6M | $223,820 | $208,506 | $194,310 |
| Deferred revenue | $2.4M | — | $866,000 | $74.1M | $111.1M | $19.3M | $77.8M | $600 | $5.7M | $3.0M |
| Total current liabilities | $195.5M | $103.2M | $105.5M | $138.8M | $146.5M | $40.7M | $97.1M | $12.4M | $18.7M | $25.6M |
| Long-term debt | $214.9M | $393.2M | $0 | $0 | $0 | $0 | $0 | $2.1M | $2.3M | $2.5M |
| Lease obligations | $111.4M | $117.4M | $115.2M | $81.6M | $25.5M | $21.1M | — | — | — | $0 |
| Other long-term liabilities | $471.5M | $452.4M | $372.9M | $134.8M | $154.8M | $20.0M | $8.7M | $1.9M | $2.1M | $5.0M |
| Total liabilities | $881.9M | $948.7M | $478.4M | $273.6M | $301.3M | $60.7M | $105.8M | $16.4M | $23.2M | $33.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $231,000 | $217,000 | $200,000 | $198,000 | $197,000 | $194,746 | $187,876 | $583.1M | $514.2M | $494.0M |
| Retained earnings (deficit) | −$1.63B | −$1.63B | −$1.03B | −$820.8M | −$644.7M | −$503.8M | −$419.3M | −$487.3M | −$432.8M | −$398.4M |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | $6.4M | $4.8M | −$3.2M | −$136,000 | −$69,000 | $18,433 | −$391,624 | −$21,564 | $33,232 | $7,449 |
| Minority interest | $37.4M | $5.6M | $15.8M | $19.8M | — | — | — | −$555,188 | −$555,188 | −$555,188 |
| Total shareholders' equity | $466.1M | $185.4M | $271.3M | $398.5M | $408.8M | $461.8M | $244.6M | $95.8M | $81.4M | $95.6M |
| Key figures | ||||||||||
| Total debt | $366.3M | $851.9M | $383.5M | $81.6M | $25.5M | $21.1M | $11.6M | $2.3M | $2.5M | $2.7M |
| Net cash (debt) | $553.1M | −$171.0M | $20.1M | $294.8M | $342.2M | $294.4M | $247.1M | $74.2M | $63.1M | $82.6M |
| Working capital | $755.2M | $592.3M | $314.1M | $266.4M | $238.1M | $281.7M | $168.2M | $66.4M | $49.2M | $64.9M |
| Tangible book value | $459.2M | $176.9M | $261.1M | $386.6M | $395.2M | $431.1M | $210.5M | $58.3M | $40.5M | $51.2M |
| Book value per share | $3.48 | $1.55 | $2.54 | $3.78 | $3.94 | $4.58 | $2.48 | $1.15 | $1.10 | $1.57 |
| Shares outstanding | 133.8M | 119.8M | 106.8M | 105.4M | 103.7M | 100.7M | 98.6M | 83.6M | 73.9M | 61.1M |
| Current ratio | 4.86 | 6.74 | 3.98 | 2.92 | 2.62 | 7.92 | 2.73 | 6.37 | 3.63 | 3.53 |
| Quick ratio | 4.74 | 6.60 | 3.83 | 2.72 | 2.58 | 7.78 | 2.67 | 6.22 | 3.51 | 3.33 |
| Debt / equity | 0.79 | 4.59 | 1.41 | 0.20 | 0.06 | 0.05 | 0.05 | 0.02 | 0.03 | 0.03 |
| Equity / assets | 33.6% | 16.3% | 35.4% | 57.6% | 57.6% | 88.4% | 69.9% | 85.8% | 78.3% | 74.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.60B | $1.78B | $916.6M | $919.4M | $900.4M | $1.10B | $552.9M | $681.0M | $436.7M | $523.1M | $220.3M | $403.6M |
| Cash & equivalents | $54.8M | $188.5M | $201.6M | $226.5M | $129.8M | $185.7M | $53.9M | $102.7M | $69.4M | $127.7M | $58.2M | $110.9M |
| Short-term investments | $1.55B | $1.60B | $715.0M | $692.8M | $770.6M | $911.7M | $499.0M | $578.3M | $367.3M | $395.4M | $162.1M | $292.7M |
| Receivables | $8.6M | $15.7M | $218.9M | $6.8M | $9.7M | $2.4M | $2.5M | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $60.9M | $40.0M | $38.9M | $24.4M | $36.9M | $35.4M | $15.1M | $14.5M | $13.4M | $18.5M | $17.6M | $15.9M |
| Total current assets | $1.67B | $1.84B | $1.17B | $950.6M | $946.9M | $1.14B | $570.5M | $695.5M | $450.1M | $541.6M | $237.9M | $419.5M |
| Property, plant & equipment (net) | $429.0M | $417.6M | $421.9M | $426.4M | $425.1M | $429.3M | $431.9M | $431.3M | $420.2M | $403.9M | $378.3M | $335.6M |
| Goodwill & intangible assets | $5.6M | $6.0M | $6.4M | $6.9M | $7.3M | $7.7M | $8.1M | $8.6M | $9.0M | $9.4M | $9.8M | $10.3M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $6.0M | $4.9M | $1.4M | $1.4M | $1.4M | $1.3M | $3.1M | $4.5M | $4.5M | $210,000 | $232,000 | $210,000 |
| Total assets | $2.11B | $2.27B | $1.60B | $1.39B | $1.38B | $1.57B | $1.01B | $1.14B | $883.8M | $955.1M | $626.3M | $765.6M |
| Liabilities | ||||||||||||
| Accounts payable | $27.8M | $30.7M | $32.9M | $17.7M | $33.0M | $10.0M | $14.5M | $11.4M | $26.6M | $8.5M | $4.5M | $35.9M |
| Short-term debt | $40.0M | $47.8M | $47.5M | $47.3M | $47.0M | $71.8M | $8.2M | $6.3M | $6.1M | $5.3M | $3.4M | $10.6M |
| Deferred revenue | $94.6M | $108.5M | $111.9M | $2.4M | $23.0M | $43.3M | — | — | — | — | $55.4M | $866,000 |
| Total current liabilities | $283.3M | $295.2M | $347.4M | $195.5M | $194.5M | $220.5M | $93.8M | $103.2M | $96.7M | $65.2M | $63.7M | $105.5M |
| Long-term debt | $824.1M | $841.6M | $163.1M | $214.9M | $200.3M | $208.9M | $407.8M | $393.2M | $0 | $0 | $0 | $0 |
| Lease obligations | $119.6M | $107.9M | $109.7M | $111.4M | $112.7M | $114.3M | $115.9M | $117.4M | $118.1M | $118.9M | $118.6M | $115.2M |
| Other long-term liabilities | $538.6M | $532.5M | $531.0M | $471.5M | $465.9M | $459.8M | $456.1M | $452.4M | $448.1M | $394.6M | $388.8M | $372.9M |
| Total liabilities | $1.65B | $1.67B | $1.04B | $881.9M | $860.8M | $889.3M | $957.6M | $948.7M | $544.8M | $459.7M | $452.6M | $478.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $237,000 | $236,000 | $233,000 | $231,000 | $230,000 | $230,000 | $218,000 | $217,000 | $217,000 | $217,000 | $200,000 | $200,000 |
| Retained earnings (deficit) | −$1.92B | −$1.73B | −$1.60B | −$1.63B | −$1.60B | −$1.43B | −$1.80B | −$1.63B | −$1.45B | −$1.28B | −$1.16B | −$1.03B |
| Accumulated other comprehensive income | −$1.2M | $742,000 | $6.7M | $6.4M | $5.4M | $4.4M | $4.1M | $4.8M | −$987,000 | −$1.1M | −$1.3M | −$3.2M |
| Minority interest | $512,000 | −$15.1M | −$5.7M | $37.4M | −$2.5M | — | — | — | — | — | — | — |
| Total shareholders' equity | $465.5M | $614.0M | $568.4M | $466.1M | $522.3M | $683.3M | $52.6M | $185.4M | $330.5M | $483.8M | $160.4M | $271.3M |
| Key figures | ||||||||||||
| Total debt | $864.1M | $1.37B | $312.8M | $366.3M | $713.3M | $740.5M | $872.0M | $851.9M | $454.1M | $399.9M | $392.3M | $383.5M |
| Net cash (debt) | $737.9M | $410.8M | $603.8M | $553.1M | $187.1M | $356.9M | −$319.1M | −$171.0M | −$17.5M | $123.3M | −$172.0M | $20.1M |
| Working capital | $1.39B | $1.54B | $827.0M | $755.2M | $752.4M | $914.7M | $476.8M | $592.3M | $353.3M | $476.5M | $174.2M | $314.1M |
| Tangible book value | $459.9M | $608.0M | $562.0M | $459.2M | $515.0M | $675.6M | $44.5M | $176.9M | $321.6M | $474.4M | $150.6M | $261.1M |
| Book value per share | $3.25 | $4.31 | $4.04 | $3.43 | $3.76 | $5.08 | $0.42 | $1.52 | $2.66 | $3.92 | $1.49 | $2.53 |
| Shares outstanding | 143.4M | 142.4M | 140.7M | 135.7M | 139.0M | 134.5M | 124.8M | 122.0M | 124.2M | 123.3M | 107.4M | 107.3M |
| Current ratio | 5.90 | 6.23 | 3.38 | 4.86 | 4.87 | 5.15 | 6.09 | 6.74 | 4.65 | 8.31 | 3.73 | 3.98 |
| Quick ratio | 5.68 | 6.10 | 3.27 | 4.74 | 4.68 | 4.99 | 5.92 | 6.60 | 4.52 | 8.03 | 3.46 | 3.83 |
| Debt / equity | 1.86 | 2.24 | 0.55 | 0.79 | 1.37 | 1.08 | 16.58 | 4.59 | 1.37 | 0.83 | 2.45 | 1.41 |
| Equity / assets | 22.0% | 27.1% | 35.4% | 33.6% | 37.8% | 43.4% | 5.2% | 16.3% | 37.4% | 50.7% | 25.6% | 35.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed November 25, 2025); data from EODHD.
ARWR financial position
At the end of fiscal 2025 (September 30, 2025), Arrowhead Pharmaceuticals had total assets of $1.4 billion (up 21.5% from a year earlier), total liabilities of $881.9 million and shareholders' equity of $466.1 million. It held $919.4 million in cash and short-term investments against $366.3 million of debt, a net cash position of $553.1 million. Its current ratio was 4.86. In the latest quarter (ended June 30, 2026) total assets were $2.1 billion and equity $465.5 million.
Related: ARWR income statement, ARWR cash flow statement, ARWR key metrics. See the ARWR stock overview for the latest quote and news.
ARWR balance sheet FAQ
What are Arrowhead Pharmaceuticals's total assets?
Arrowhead Pharmaceuticals reported total assets of $1.4 billion at the end of fiscal 2025 (September 30, 2025), compared with $1.1 billion a year earlier.
How much debt does Arrowhead Pharmaceuticals have?
Arrowhead Pharmaceuticals had $366.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.79.
How much cash does Arrowhead Pharmaceuticals have?
Arrowhead Pharmaceuticals held $919.4 million in cash and short-term investments at the end of fiscal 2025; with $366.3 million of debt that is net cash of $553.1 million.
What is Arrowhead Pharmaceuticals's book value?
Arrowhead Pharmaceuticals's shareholders' equity (book value) was $466.1 million at the end of fiscal 2025, or $3.48 per share.
What is Arrowhead Pharmaceuticals's current ratio?
Arrowhead Pharmaceuticals had current assets of $950.6 million and current liabilities of $195.5 million, a current ratio of 4.86 (it can cover its short-term obligations).
How much goodwill does Arrowhead Pharmaceuticals have?
Arrowhead Pharmaceuticals carried $6.9 million of goodwill and intangible assets, 0.5% of total assets, at the end of fiscal 2025.