Arcturus Therapeutics Holdings Inc. (ARCT) Key Metrics
ARCT valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $293.9M
- Enterprise value
- $209.8M
- P/E (TTM)
- —
- Forward P/E
- 2.5
- PEG ratio
- —
- Price / sales
- 10.0 10-yr median 4.3
- Price / book
- 2.2 10-yr median 2.6
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 2.48
ARCT key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsARCT valuation Price multiples at each fiscal year-end price.
Price / sales−24.6%
2.5
2025 · hover or tap a bar for each year
20162025
Price / book−58.7%
0.8
2025 · hover or tap a bar for each year
20162025
Free cash flow yield−31.1 pts
−44.2%
2025 · hover or tap a bar for each year
20162025
ARCT returns How much profit the business earns on the capital it uses.
Return on equity+2.2 pts
−28.9%
2025 · hover or tap a bar for each year
20162025
Return on invested capital+15.2 pts
−291.9%
2025 · hover or tap a bar for each year
20162025
Return on assets−0.5 pts
−21.4%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin−66.8 pts
−110.5%
2025 · hover or tap a bar for each year
20162025
Asset turnover−38.9%
0.22
2025 · hover or tap a bar for each year
20162025
ARCT per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−52.1%
$2.45
2025 · hover or tap a bar for each year
20162025
Earnings per share
−$2.40
2025 · hover or tap a bar for each year
20162025
Free cash flow per share
−$2.71
2025 · hover or tap a bar for each year
20162025
Book value per share−12.5%
$7.81
2025 · hover or tap a bar for each year
20162025
Shares outstanding+1.4%
27.4M
2025 · hover or tap a bar for each year
20162025
ARCT financial health Debt, liquidity and how easily interest is covered.
Debt / equity−1.4%
0.12
2025 · hover or tap a bar for each year
20162025
Net debt+$2.6M
−$205.9M
2025 · hover or tap a bar for each year
20162025
Current ratio+42.1%
6.64
2025 · hover or tap a bar for each year
20162025
Debt / assets+11.1%
0.09
2025 · hover or tap a bar for each year
20162025
ARCT efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−22 days
26 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding+47 days
690 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle−69 days
-664 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue−0.1 pts
0.3%
2025 · hover or tap a bar for each year
20162025
ARCT valuation history
Fiscal year-endToday10-year median
ARCT returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ARCT debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ARCT price vs earnings per share
Share price at year-endEPS (right axis)
ARCT key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $167.9M | $458.2M | $839.6M | $459.5M | $974.0M | $880.8M | $131.2M | $45.6M | — | — |
| Enterprise value | −$38.0M | $249.7M | $577.8M | $162.4M | $672.6M | $438.7M | $80.5M | $18.8M | — | — |
| P/E ratio | — | — | — | 49.1 | — | — | — | — | — | — |
| Price / sales | 2.5 | 3.3 | 5.3 | 2.2 | 78.8 | 92.3 | 6.3 | 2.9 | — | — |
| Price / book | 0.8 | 1.9 | 3.0 | 1.7 | 4.3 | 2.2 | 5.1 | 3.3 | — | — |
| Price / free cash flow | — | — | — | 18.9 | — | — | — | — | — | — |
| Price / operating cash flow | — | — | — | 14.4 | — | — | — | — | — | — |
| EV / sales | -0.6 | 1.8 | 3.7 | 0.8 | 54.4 | 46.0 | 3.9 | 1.2 | — | — |
| EV / EBITDA | — | — | — | 10.7 | — | — | — | — | — | — |
| EV / free cash flow | — | — | — | 6.7 | — | — | — | — | — | — |
| Earnings yield | −39.2% | −17.7% | −3.5% | 2.0% | −20.9% | −8.2% | −19.8% | −47.8% | — | — |
| Free cash flow yield | −44.2% | −13.2% | −2.5% | 5.3% | −14.2% | −5.1% | −5.5% | −48.8% | — | — |
| Shareholder yield (dividends + buybacks) | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Share price at fiscal year-end | $6.13 | $16.97 | $31.53 | $16.96 | $37.01 | $43.38 | $10.87 | $4.53 | $7.95 | $14.70 |
| Per share | ||||||||||
| Revenue per share | $2.45 | $5.13 | $5.92 | $7.59 | $0.47 | $0.47 | $1.72 | $1.56 | — | — |
| Earnings per share | −$2.40 | −$3.00 | −$1.12 | $0.35 | −$7.74 | −$3.55 | −$2.15 | −$2.16 | — | — |
| Operating cash flow per share | −$2.71 | −$2.21 | −$0.68 | $1.18 | −$5.13 | −$2.11 | −$0.53 | −$2.06 | — | — |
| Free cash flow per share | −$2.71 | −$2.24 | −$0.79 | $0.90 | −$5.26 | −$2.20 | −$0.60 | −$2.21 | — | — |
| Cash per share | $8.43 | $8.78 | $10.97 | $14.46 | $14.08 | $22.80 | $5.91 | $3.65 | — | — |
| Book value per share | $7.81 | $8.93 | $10.46 | $9.98 | $8.67 | $19.53 | $2.14 | $1.35 | — | — |
| Tangible book value per share | $7.81 | $8.93 | $10.46 | $9.98 | $8.67 | $19.53 | $2.14 | $1.35 | — | — |
| Capex per share | $0.01 | $0.02 | $0.11 | $0.29 | $0.13 | $0.09 | $0.07 | $0.15 | — | — |
| Debt per share | $0.91 | $1.06 | $1.13 | $3.50 | $2.63 | $1.02 | $1.71 | $0.98 | — | — |
| Shares outstanding | 27.4M | 27.0M | 26.6M | 27.1M | 26.3M | 20.3M | 12.1M | 10.1M | — | — |
| Change in shares outstanding | +1.4% | +1.4% | −1.7% | +2.9% | +29.6% | +68.2% | +19.9% | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −28.9% | −31.2% | −10.8% | 3.8% | −65.2% | −34.2% | −131.8% | −91.9% | −26.9% | −42.2% |
| Return on invested capital (ROIC) | −291.9% | −307.1% | — | — | — | — | — | — | — | — |
| Return on assets (ROA) | −21.4% | −20.9% | −6.8% | 2.2% | −46.9% | −25.8% | −41.1% | −45.3% | −21.0% | −39.9% |
| Return on tangible assets | −24.3% | −23.5% | −6.9% | 2.1% | −51.8% | −15.1% | −31.6% | −49.3% | −21.0% | −47.7% |
| Free cash flow margin | −110.5% | −43.6% | −13.3% | 11.8% | — | −467.6% | −34.9% | −141.2% | −5.5% | −94.8% |
| Income quality (OCF / net income) | — | — | — | 3.42 | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $25.0M | $28.6M | $30.2M | $94.8M | $69.1M | $20.8M | $20.7M | $9.9M | — | $133,000 |
| Cash & short-term investments | $230.9M | $237.0M | $292.0M | $391.9M | $370.5M | $462.9M | $71.4M | $36.7M | $48.6M | $50.2M |
| Net debt | −$205.9M | −$208.5M | −$261.8M | −$297.1M | −$301.3M | −$442.1M | −$50.7M | −$26.8M | −$48.6M | −$50.1M |
| Debt / equity | 0.12 | 0.12 | 0.11 | 0.35 | 0.30 | 0.05 | 0.80 | 0.73 | — | 0.00 |
| Debt / assets | 0.09 | 0.08 | 0.07 | 0.21 | 0.18 | 0.04 | 0.25 | 0.22 | — | 0.00 |
| Net debt / EBITDA | — | — | — | −19.58 | — | — | — | — | — | — |
| Current ratio | 6.64 | 4.67 | 4.72 | 3.18 | 3.81 | 9.45 | 3.48 | 3.33 | 4.61 | 11.82 |
| Quick ratio | 6.64 | 4.67 | 4.81 | 3.18 | 3.81 | 9.45 | 3.48 | 3.33 | 4.48 | 11.94 |
| Interest coverage | — | — | -102.0 | 4.1 | -75.9 | -86.1 | -29.9 | -117.3 | -69.9 | -85.3 |
| Working capital | $205.1M | $240.5M | $304.6M | $276.3M | $279.4M | $418.3M | $53.0M | $29.3M | $39.8M | $47.0M |
| Invested capital | $8.1M | $32.5M | $16.7M | −$26.8M | −$73.1M | −$45.6M | −$24.9M | −$13.2M | −$14.8M | −$2.9M |
| Tangible asset value | $214.0M | $241.0M | $278.5M | $270.3M | $228.2M | $396.6M | $25.8M | $13.6M | $33.8M | $47.2M |
| Net current asset value | $184.3M | $202.9M | $235.7M | $223.3M | $214.4M | $387.9M | $17.9M | $11.3M | $32.6M | $47.0M |
| Graham number | — | — | — | $8.80 | — | — | — | — | — | — |
| Graham net-net per share | $6.50 | $5.07 | $6.06 | $7.89 | $7.92 | $18.94 | $1.38 | $0.94 | — | — |
| Capital allocation | ||||||||||
| Share buybacks (net) | — | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Capex / revenue | 0.3% | 0.5% | 1.8% | 3.8% | 27.6% | 18.3% | 3.9% | 9.4% | 1.9% | 0.4% |
| Capex / operating cash flow | — | — | — | 24.1% | — | — | — | — | — | — |
| Capex / depreciation | 0.08 | 0.18 | 0.98 | 5.06 | 2.85 | 1.98 | 1.20 | 2.54 | 0.61 | 0.25 |
| Stock-based compensation / revenue | 37.8% | 27.5% | 22.0% | 14.9% | 234.0% | 70.9% | 9.5% | 8.0% | 16.7% | 12.3% |
| R&D / revenue | 166.9% | 141.0% | 121.8% | 71.8% | 1,405.9% | 606.4% | 161.8% | 107.8% | 122.5% | 90.2% |
| SG&A / revenue | 68.5% | 38.2% | 33.5% | 22.4% | 335.4% | 243.4% | 60.9% | 130.7% | 58.3% | 26.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 25.9 | 47.5 | 40.3 | 5.4 | 81.1 | 82.3 | 58.5 | 57.5 | 57.7 | 35.5 |
| Days of inventory on hand | — | — | -928.4 | — | 0.0 | — | — | 15.7 | 418.0 | -395.4 |
| Days payables outstanding | 689.5 | 642.3 | 785.5 | 22.3 | 21.9 | 54.0 | 46.1 | 45.0 | 2,291.0 | 2,119.2 |
| Cash conversion cycle (days) | -663.6 | -594.8 | -1,673.6 | -16.9 | 59.2 | 28.3 | 12.4 | 28.2 | -1,815.3 | -2,479.2 |
| Receivables turnover | 14.10 | 7.68 | 9.06 | 67.12 | 4.50 | 4.43 | 6.24 | 6.35 | 6.32 | 10.29 |
| Payables turnover | 0.53 | 0.57 | 0.46 | 16.34 | 16.68 | 6.75 | 7.92 | 8.11 | 0.16 | 0.17 |
| Inventory turnover | — | — | — | — | 173,760,000.00 | — | — | 23.26 | 0.87 | — |
| Asset turnover | 0.22 | 0.36 | 0.36 | 0.49 | 0.03 | 0.03 | 0.33 | 0.33 | 0.25 | 0.33 |
| Average receivables | $4.8M | $18.0M | $17.4M | $3.1M | $2.7M | $2.2M | $3.3M | $2.5M | $2.1M | $2.0M |
| Average payables | $5.7M | $6.2M | $6.4M | $8.8M | $10.4M | $8.3M | $4.1M | $2.1M | $2.6M | $1.7M |
| Average inventory | — | — | −$7.5M | — | $1 | — | — | $730,000 | $469,500 | −$318,500 |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from ARCT's annual financial statements (latest annual report filed March 3, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ARCT valuation and financial ratios
Arcturus Therapeutics earned a return on equity of −28.9% and a return on invested capital of −291.9% in fiscal 2025. It ended the year with $25.0 million of debt and $230.9 million in cash and short-term investments, a net cash position of $205.9 million.
See the ARCT income statement, the ARCT chart for price history, or the ARCT stock overview for the latest quote and news.
ARCT key metrics FAQ
What is Arcturus Therapeutics's return on equity?
Arcturus Therapeutics's return on equity (ROE) was −28.9% in fiscal 2025: net income of -$65.8 million on average shareholders' equity of $227.5 million.
What is Arcturus Therapeutics's ROIC?
Arcturus Therapeutics's return on invested capital was −291.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Arcturus Therapeutics have?
Arcturus Therapeutics had total debt of $25.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.12 and more cash than debt.
What is Arcturus Therapeutics's free cash flow yield?
Arcturus Therapeutics generated -$74.3 million of free cash flow in fiscal 2025, a free cash flow yield of −44.2% on its market value at year-end ($167.9 million).
What is Arcturus Therapeutics's current ratio?
Arcturus Therapeutics's current ratio was 6.64 at the end of fiscal 2025: current assets were 6.64 times current liabilities.