Arcutis Biotherapeutics, Inc. (ARQT) Key Metrics
ARQT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.62B
- Enterprise value
- $3.19B
- P/E (TTM)
- 131.0
- Forward P/E
- 26.4
- PEG ratio
- —
- Price / sales
- 7.8 10-yr median 9.2
- Price / book
- 15.0 10-yr median 3.8
- EV / EBITDA
- 70.2
- Dividend yield
- —
- Beta
- 1.58
ARQT key metrics, 2017–2025
Fiscal year ended December 31, 2025 · U.S. dollarsARQT valuation Price multiples at each fiscal year-end price.
Price / sales+14.6%
9.8
2025 · hover or tap a bar for each year
20172025
Price / book+82.3%
19.5
2025 · hover or tap a bar for each year
20172025
Free cash flow yield+6.5 pts
−0.2%
2025 · hover or tap a bar for each year
20172025
ARQT returns How much profit the business earns on the capital it uses.
Return on equity+104.5 pts
−9.3%
2025 · hover or tap a bar for each year
20172025
Return on assets+36.4 pts
−4.1%
2025 · hover or tap a bar for each year
20172025
Free cash flow margin+55.5 pts
−1.7%
2025 · hover or tap a bar for each year
20172025
Asset turnover+68.9%
0.96
2025 · hover or tap a bar for each year
20172025
ARQT per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+81.9%
$2.96
2025 · hover or tap a bar for each year
20172025
Earnings per share
−$0.13
2025 · hover or tap a bar for each year
20172025
Free cash flow per share
−$0.05
2025 · hover or tap a bar for each year
20172025
Book value per share+14.3%
$1.49
2025 · hover or tap a bar for each year
20172025
Shares outstanding+5.2%
127.2M
2025 · hover or tap a bar for each year
20172025
ARQT financial health Debt, liquidity and how easily interest is covered.
Debt / equity−95.3%
0.03
2025 · hover or tap a bar for each year
20172025
Net debt−$97.3M
−$214.7M
2025 · hover or tap a bar for each year
20172025
Current ratio−23.6%
3.17
2025 · hover or tap a bar for each year
20172025
Interest coverage
-1.0
2025 · hover or tap a bar for each year
20172025
Debt / assets−95.4%
0.01
2025 · hover or tap a bar for each year
20172025
ARQT efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding+15 days
106 days
2025 · hover or tap a bar for each year
20172025
Days of inventory−79 days
185 days
2025 · hover or tap a bar for each year
20172025
Days payables outstanding−117 days
133 days
2025 · hover or tap a bar for each year
20172025
Cash conversion cycle+53 days
158 days
2025 · hover or tap a bar for each year
20172025
Capex / revenue+0.1 pts
0.2%
2025 · hover or tap a bar for each year
20172025
ARQT valuation history
Fiscal year-endToday9-year median
ARQT returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ARQT debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ARQT cash returned to shareholders
DividendsBuybacksFree cash flow
ARQT price vs earnings per share
Share price at year-endEPS (right axis)
ARQT key metrics
2017–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Valuation | |||||||||
| Market capitalization | $3.69B | $1.68B | $223.9M | $814.5M | $1.02B | $1.00B | — | — | — |
| Enterprise value | $3.48B | $1.57B | $157.9M | $607.4M | $713.6M | $723.9M | — | — | — |
| Price / sales | 9.8 | 8.6 | 3.8 | 221.0 | — | — | — | — | — |
| Price / book | 19.5 | 10.7 | 2.5 | 3.9 | 3.4 | 3.7 | — | — | — |
| EV / sales | 9.3 | 8.0 | 2.6 | 164.8 | — | — | — | — | — |
| Earnings yield | −0.4% | −8.3% | −117.1% | −38.2% | −20.1% | −13.5% | — | — | — |
| Free cash flow yield | −0.2% | −6.7% | −110.6% | −34.5% | −17.1% | −11.3% | — | — | — |
| Dividend yield | — | — | — | 15.1% | 7.1% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | — | — | — | 15.1% | 7.1% | 0.0% | — | — | — |
| Share price at fiscal year-end | $29.04 | $13.93 | $3.23 | $14.80 | $20.74 | $28.13 | — | — | — |
| Per share | |||||||||
| Revenue per share | $2.96 | $1.62 | $0.86 | $0.07 | $0.00 | $0.00 | $0.00 | $0.00 | — |
| Earnings per share | −$0.13 | −$1.16 | −$3.78 | −$5.66 | −$4.17 | −$3.80 | −$1.10 | −$0.53 | — |
| Operating cash flow per share | −$0.04 | −$0.93 | −$3.56 | −$4.68 | −$3.53 | −$3.17 | −$1.12 | −$0.39 | — |
| Free cash flow per share | −$0.05 | −$0.93 | −$3.57 | −$5.11 | −$3.55 | −$3.18 | −$1.13 | −$0.39 | — |
| Cash per share | $1.74 | $1.88 | $3.92 | $7.44 | $7.87 | $7.97 | $2.66 | $1.41 | — |
| Book value per share | $1.49 | $1.30 | $1.28 | $3.81 | $6.03 | $7.59 | $2.66 | −$0.66 | — |
| Tangible book value per share | $1.37 | $1.22 | $1.19 | $3.68 | $6.03 | $7.59 | $2.66 | −$0.66 | — |
| Dividends per share | — | — | — | $2.23 | $1.46 | — | — | — | — |
| Capex per share | $0.01 | $0.00 | $0.01 | $0.42 | $0.02 | $0.01 | $0.01 | $0.01 | — |
| Debt per share | $0.05 | $0.91 | $2.97 | $3.68 | $1.57 | $0.14 | $0.01 | — | — |
| Shares outstanding | 127.2M | 121.0M | 69.3M | 55.0M | 49.4M | 35.7M | 38.1M | 36.2M | — |
| Change in shares outstanding | +5.2% | +74.5% | +25.9% | +11.4% | +38.5% | −6.4% | +5.1% | — | — |
| Returns & profitability | |||||||||
| Return on equity (ROE) | −9.3% | −113.8% | −175.8% | −122.8% | −72.5% | −72.9% | −108.4% | — | — |
| Return on invested capital (ROIC) | — | −322.6% | — | — | — | — | — | — | — |
| Return on assets (ROA) | −4.1% | −40.6% | −66.3% | −72.6% | −58.3% | −67.0% | −53.1% | −70.1% | −130.3% |
| Return on tangible assets | −3.9% | −41.3% | −78.3% | −70.5% | −50.4% | −45.5% | −39.2% | −37.7% | −130.3% |
| Free cash flow margin | −1.7% | −57.1% | −415.2% | — | — | — | — | — | — |
| Financial health | |||||||||
| Total debt | $6.3M | $110.6M | $205.9M | $202.5M | $77.6M | $5.0M | $307,000 | — | $966,000 |
| Cash & short-term investments | $221.0M | $228.0M | $271.9M | $409.6M | $388.6M | $284.4M | $101.3M | $50.9M | $3.4M |
| Net debt | −$214.7M | −$117.4M | −$65.9M | −$207.0M | −$311.0M | −$279.5M | −$101.0M | −$50.9M | −$2.5M |
| Debt / equity | 0.03 | 0.70 | 2.32 | 0.97 | 0.26 | 0.02 | 0.00 | — | — |
| Debt / assets | 0.01 | 0.32 | 0.60 | 0.45 | 0.19 | 0.02 | 0.00 | — | 0.25 |
| Net debt / EBITDA | −120.63 | — | — | — | — | — | — | — | — |
| Current ratio | 3.17 | 4.15 | 7.08 | 11.57 | 12.09 | 12.96 | 20.33 | 19.12 | 5.52 |
| Quick ratio | 2.99 | 3.97 | 6.80 | 11.37 | 12.05 | 12.98 | 20.33 | 19.12 | 5.52 |
| Interest coverage | -1.0 | -4.7 | -8.1 | -19.3 | -454.9 | — | — | — | — |
| Working capital | $281.4M | $254.8M | $283.8M | $399.6M | $369.4M | $270.2M | $101.2M | $48.4M | $3.1M |
| Invested capital | −$25.2M | $40.2M | $22.7M | $2.5M | −$13.4M | −$8.9M | $504,000 | −$74.9M | −$7.4M |
| Tangible asset value | $174.7M | $148.1M | $82.2M | $202.4M | $297.7M | $270.6M | $101.5M | −$24.0M | −$5.0M |
| Net current asset value | $167.7M | $144.5M | $77.7M | $197.7M | $292.3M | $265.2M | $100.9M | −$24.0M | −$5.0M |
| Graham net-net per share | $0.77 | $0.82 | $0.65 | $3.27 | $5.65 | $7.20 | $2.52 | −$0.67 | — |
| Capital allocation | |||||||||
| Dividends paid | — | — | — | $122.8M | $72.3M | — | — | — | — |
| Share buybacks (net) | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Capex / revenue | 0.2% | 0.1% | 0.7% | 631.7% | — | — | — | — | — |
| Capex / depreciation | 0.15 | 0.06 | 0.57 | 24.93 | 2.19 | 2.63 | 4.34 | 1.51 | 1.51 |
| Stock-based compensation / revenue | 10.7% | 21.2% | 65.1% | 886.7% | — | — | — | — | — |
| R&D / revenue | 20.5% | 38.9% | 185.5% | 4,949.4% | — | — | — | — | — |
| SG&A / revenue | 73.0% | 116.7% | 291.1% | 3,313.2% | — | — | — | — | — |
| Efficiency | |||||||||
| Days sales outstanding | 106.4 | 91.8 | 104.9 | 436.7 | — | — | — | — | — |
| Days of inventory on hand | 184.8 | 263.9 | 755.6 | 2,104.3 | 160.3 | -409.1 | — | — | — |
| Days payables outstanding | 133.0 | 250.1 | 761.9 | 3,916.2 | 3,466.5 | 3,427.4 | 3,000.5 | — | — |
| Cash conversion cycle (days) | 158.2 | 105.6 | 98.7 | -1,375.2 | — | — | — | — | — |
| Receivables turnover | 3.43 | 3.98 | 3.48 | 0.84 | 0.00 | 0.00 | 0.00 | — | — |
| Payables turnover | 2.74 | 1.46 | 0.48 | 0.09 | 0.11 | 0.11 | 0.12 | — | — |
| Inventory turnover | 1.97 | 1.38 | 0.48 | 0.17 | 2.28 | — | — | — | — |
| Asset turnover | 0.96 | 0.57 | 0.15 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Average receivables | $109.6M | $49.4M | $17.1M | $4.4M | $436,000 | $327,500 | $145,000 | — | — |
| Average payables | $13.4M | $13.1M | $10.4M | $8.1M | $7.2M | $4.3M | $1.6M | $1.2M | $537,000 |
| Average inventory | $18.6M | $13.8M | $10.3M | $4.3M | $335,000 | −$510,000 | — | — | — |
| Intangibles / total assets | 3.4% | 2.7% | 1.9% | 1.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from ARQT's annual financial statements (latest annual report filed February 25, 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.
ARQT valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 131.0 and the forward P/E is 26.4. Arcutis Biotherapeutics earned a return on equity of −9.3% in fiscal 2025. It ended the year with $6.3 million of debt and $221.0 million in cash and short-term investments, a net cash position of $214.7 million.
See the ARQT income statement, the ARQT chart for price history, or the ARQT stock overview for the latest quote and news.
ARQT key metrics FAQ
What is Arcutis Biotherapeutics's P/E ratio?
Arcutis Biotherapeutics's trailing P/E ratio is 131.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 26.4. At the end of fiscal 2025 it was —.
What is Arcutis Biotherapeutics's return on equity?
Arcutis Biotherapeutics's return on equity (ROE) was −9.3% in fiscal 2025: net income of -$16.1 million on average shareholders' equity of $173.5 million.
How much debt does Arcutis Biotherapeutics have?
Arcutis Biotherapeutics had total debt of $6.3 million at the end of fiscal 2025, a debt-to-equity ratio of 0.03 and more cash than debt.
What is Arcutis Biotherapeutics's free cash flow yield?
Arcutis Biotherapeutics generated -$6.3 million of free cash flow in fiscal 2025, a free cash flow yield of −0.2% on its market value at year-end ($3.7 billion).
What is Arcutis Biotherapeutics's current ratio?
Arcutis Biotherapeutics's current ratio was 3.17 at the end of fiscal 2025: current assets were 3.17 times current liabilities.