Roivant Sciences Ltd. (ROIV) Cash Flow Statement
Where ROIV’s cash came from and went, FY2026
March 31, 2026 · U.S. dollars- Cash from operations
- −$750.3M
- Capital expenditures
- $8.2M 99.4% of revenue
- Free cash flow
- −$758.6M −9,183.5% margin
- Returned to shareholders
- $319.5M
- Change in cash
- −$1.29B cash at year-end $1.43B
Drawn to scale: where the cash came from and how it was used. Hover for values.
ROIV operating cash flow, capex and free cash flow
ROIV cash flow trends, FY2019–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$1.02BFY2019 | −$750.3MFY2026 | — | |
| Capital expenditures | $11.4MFY2019 | $8.2MFY2026 | −4.6%/yr | |
| Free cash flow | −$1.04BFY2019 | −$758.6MFY2026 | — | |
| Free cash flow margin | −44,562.2%FY2019 | −9,183.5%FY2026 | +35,378.7 pts | |
| Stock-based compensation | $58.9MFY2019 | $346.2MFY2026 | +28.8%/yr | |
| Dividends paid | $162.7MFY2023 | $6.0MFY2024 | −96.3%/yr | |
| Share buybacks (net) | $7.4MFY2019 | $319.5MFY2026 | +71.3%/yr | |
| Capex / revenue | 490.4%FY2019 | 99.4%FY2026 | −391.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ROIV cash flow by activity
ROIV net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
ROIV cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | −$397.9M | −$356.7M | $4.23B | −$1.12B | −$924.1M | −$900.2M | −$519.4M | −$749.4M |
| Depreciation & amortization | $3.3M | $14.1M | $22.0M | $18.9M | $5.9M | $5.9M | $5.9M | — |
| Stock-based compensation | $346.2M | $289.0M | $199.6M | $217.8M | $565.0M | $85.0M | $122.6M | $58.9M |
| Change in working capital | −$621.8M | −$77.0M | $19.0M | $6.3M | $15.7M | $71.9M | $15.3M | $49.7M |
| Other non-cash items | −$80.2M | −$708.8M | −$5.24B | $29.1M | −$340.2M | $185.3M | −$386.2M | −$383.4M |
| Cash from operating activities | −$750.3M | −$839.5M | −$765.3M | −$843.4M | −$677.7M | −$552.1M | −$761.8M | −$1.02B |
| Investing activities | ||||||||
| Capital expenditures | −$8.2M | −$4.6M | −$1.4M | −$12.7M | −$17.4M | −$5.8M | −$4.9M | −$11.4M |
| Investments (net) | −$667.2M | −$1.77B | $5.20B | −$44.3M | $320.2M | $320.2M | −$51.9M | −$43.6M |
| Acquisitions & other investing | −$6.9M | $4.6M | $1.4M | $12.7M | $561,000 | −$346.1M | $1.75B | −$2.6M |
| Cash from investing activities | −$682.3M | −$1.77B | $5.20B | −$44.3M | $303.3M | −$31.7M | $1.69B | −$57.6M |
| Financing activities | ||||||||
| Dividends paid | — | — | −$6.0M | −$162.7M | — | — | — | — |
| Share repurchases & issuance (net) | −$319.5M | −$1.29B | $951,000 | $316,000 | — | −$113,000 | −$1.19B | −$7.4M |
| Net borrowing (repayment) | $0 | −$52.8M | −$30.7M | $129.8M | $14.8M | $14.8M | $51.7M | $175.8M |
| Shares issued | $193.6M | $112.8M | $438.6M | $379.7M | $99.0M | $455.8M | $0 | $0 |
| Other financing | $260.1M | $13.4M | $16.6M | $152.4M | $193.0M | −$14.2M | $1.35B | $598.6M |
| Cash from financing activities | $134.2M | −$1.22B | $419.4M | $499.5M | $306.8M | $456.3M | $217.2M | $767.0M |
| Summary | ||||||||
| Net change in cash | −$1.29B | −$3.82B | $4.86B | −$381.9M | −$68.4M | −$127.6M | $1.34B | $1.12B |
| Cash at end of period | $1.43B | $2.73B | $6.55B | $1.69B | $2.06B | $2.14B | $2.19B | $849.6M |
| Free cash flow | −$758.6M | −$844.0M | −$766.6M | −$856.1M | −$695.2M | −$557.9M | −$766.7M | −$1.04B |
| Free cash flow margin | −9,183.5% | −2,905.2% | −2,343.6% | −2,715.1% | −1,257.4% | −2,344.8% | −1,132.8% | −44,562.2% |
| Capex / revenue | 99.4% | 15.8% | 4.2% | 40.2% | 31.5% | 24.4% | 7.3% | 490.4% |
| Operating cash flow / net income | — | — | −0.18 | — | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$290.6M | $355.7M | −$313.7M | −$113.5M | −$273.9M | −$252.4M | $118.1M | −$279.9M | −$279.9M | −$63.6M | $5.07B | −$217.9M |
| Depreciation & amortization | $600,000 | $638,000 | $691,000 | $921,000 | $1.1M | $1.4M | $2.9M | $4.8M | $4.8M | $2.0M | $5.4M | $7.3M |
| Stock-based compensation | $83.3M | $77.2M | $105.0M | $81.8M | $82.2M | $83.5M | $83.7M | $71.7M | $71.7M | $46.7M | $54.3M | $49.3M |
| Change in working capital | $7.1M | −$601.1M | $9.4M | $7.1M | −$37.2M | $34.5M | −$53.1M | $10.3M | $10.3M | $16.0M | $21.2M | $17.1M |
| Other non-cash items | −$63.8M | $3.7M | $2.2M | −$162.0M | $23.4M | −$39.6M | −$358.8M | −$73.7M | −$73.7M | −$109.6M | −$5.36B | −$52.3M |
| Cash from operating activities | −$263.4M | −$163.8M | −$196.5M | −$185.7M | −$204.4M | −$172.6M | −$207.3M | −$266.8M | −$266.8M | −$108.5M | −$210.5M | −$196.4M |
| Investing activities | ||||||||||||
| Capital expenditures | −$419,000 | −$1.3M | −$4.9M | −$7.8M | −$4.0M | −$811,000 | −$1.8M | −$996,000 | −$996,000 | −$349,000 | −$355,000 | −$275,000 |
| Investments (net) | $281.7M | $179.2M | $107.1M | $120.4M | −$1.09B | $1.07B | $454.1M | −$3.29B | −$965,000 | $6.9M | $5.23B | −$36.5M |
| Acquisitions & other investing | $0 | −$43.7M | $46.6M | $7.8M | $4.0M | $811,000 | $1.8M | $996,000 | −$3.29B | $349,000 | $355,000 | $275,000 |
| Cash from investing activities | $281.3M | $134.2M | $148.7M | $120.4M | −$1.09B | $1.07B | $454.1M | −$3.29B | −$3.29B | $6.9M | $5.23B | −$36.5M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | −$6.0M | — | −$6.0M |
| Share repurchases & issuance (net) | −$206.7M | −$111.2M | $0 | $0 | −$208.3M | −$295.4M | −$243.3M | −$106.1M | −$106.1M | $222.2M | $0 | −$215.5M |
| Net borrowing (repayment) | — | $0 | $0 | $0 | $0 | $0 | −$49.1M | −$1.8M | — | — | — | −$7.6M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $112.8M | $0 | $0 | $0 | $0 | $238.7M | $0 |
| Other financing | −$181.5M | $81.7M | $288.9M | $62.6M | $20.5M | $5.5M | $19.5M | −$1.2M | −$3.0M | −$248.8M | −$2.1M | $437.0M |
| Cash from financing activities | −$388.2M | −$29.5M | $288.9M | $62.6M | −$187.8M | −$177.2M | −$273.0M | −$109.1M | −$109.1M | −$32.6M | $236.6M | $207.9M |
| Summary | ||||||||||||
| Net change in cash | −$370.1M | −$57.8M | $241.6M | −$1.4M | −$1.48B | $724.0M | −$27.2M | −$3.66B | −$3.66B | −$178.0M | $5.26B | −$25.7M |
| Cash at end of period | $1.06B | $1.42B | $1.48B | $1.24B | $1.25B | $2.73B | $2.00B | $2.03B | $2.03B | $6.50B | $6.69B | $1.41B |
| Free cash flow | −$263.8M | −$165.1M | −$191.5M | −$193.5M | −$208.4M | −$173.4M | −$209.1M | −$267.8M | −$267.8M | −$108.8M | −$210.8M | −$196.7M |
| Free cash flow margin | −18,295.0% | −6,550.8% | −9,582.2% | −12,317.8% | −9,604.5% | −2,290.3% | −2,318.5% | −5,984.4% | −5,984.4% | −376.1% | −1,354.6% | −5,392.1% |
| Capex / revenue | 29.1% | 50.0% | 246.9% | 499.6% | 185.9% | 10.7% | 20.3% | 22.3% | 22.3% | 1.2% | 2.3% | 7.5% |
| Operating cash flow / net income | — | −0.46 | — | — | — | — | −1.76 | — | — | — | −0.04 | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
ROIV cash generation
In fiscal 2026 (ended March 31, 2026), Roivant Sciences generated -$750.3 million of cash from operations and spent $8.2 million on capital expenditures, leaving free cash flow of -$758.6 million, −9,183.5% of revenue. It returned $319.5 million to shareholders through dividends ($0) and net share buybacks ($319.5 million). Cash and equivalents fell by $1.3 billion over the year.
Related: ROIV income statement, ROIV balance sheet. See the ROIV stock overview for the latest quote and news.
ROIV cash flow FAQ
What is Roivant Sciences's free cash flow?
Roivant Sciences's free cash flow was -$758.6 million in fiscal 2026: -$750.3 million of operating cash flow minus $8.2 million of capital expenditures It was -$844.0 million a year earlier..
How much cash does Roivant Sciences generate from operations?
Roivant Sciences generated -$750.3 million of cash from operating activities in fiscal 2026.
How much does Roivant Sciences spend on capital expenditures?
Roivant Sciences spent $8.2 million on capital expenditures in fiscal 2026, 99.4% of revenue, compared with $4.6 million the year before.
How much stock does Roivant Sciences buy back?
Roivant Sciences spent $319.5 million on net share repurchases in fiscal 2026.