Arvinas, Inc. (ARVN) Key Metrics
ARVN valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $449.7M
- Enterprise value
- −$48.6M
- P/E (TTM)
- 26.8
- Forward P/E
- 17.9
- PEG ratio
- —
- Price / sales
- 1.4 10-yr median 28.7
- Price / book
- 0.9 10-yr median 3.3
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 1.81
ARVN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsARVN valuation Price multiples at each fiscal year-end price.
ARVN returns How much profit the business earns on the capital it uses.
ARVN per-share figures Results divided by the shares outstanding at year-end.
ARVN financial health Debt, liquidity and how easily interest is covered.
ARVN efficiency & capital use Working capital cycle and where the cash goes.
ARVN valuation history
ARVN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ARVN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ARVN cash returned to shareholders
ARVN price vs earnings per share
ARVN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $769.7M | $1.38B | $2.28B | $1.82B | $4.11B | $3.36B | $1.35B | $406.4M | — | — |
| Enterprise value | $93.2M | $348.6M | $1.03B | $620.2M | $2.61B | $2.67B | $1.08B | $220.8M | — | — |
| Price / sales | 2.9 | 5.2 | 29.1 | 13.9 | 87.9 | 154.0 | 31.5 | 28.4 | — | — |
| Price / book | 1.8 | 2.5 | 3.5 | 3.2 | 5.3 | 5.2 | 6.0 | 3.0 | — | — |
| Price / free cash flow | — | — | — | — | 7.4 | — | — | — | — | — |
| Price / operating cash flow | — | — | — | — | 7.3 | — | — | — | — | — |
| EV / sales | 0.4 | 1.3 | 13.1 | 4.7 | 55.9 | 122.6 | 25.0 | 15.4 | — | — |
| EV / free cash flow | — | — | — | — | 4.7 | — | — | — | — | — |
| Earnings yield | −10.5% | −14.4% | −16.1% | −14.9% | −4.5% | −3.3% | −4.6% | −10.2% | — | — |
| Free cash flow yield | −35.8% | −18.9% | −15.4% | −15.4% | 13.5% | −2.9% | −3.5% | −4.7% | — | — |
| Dividend yield | — | — | — | — | — | — | 0.3% | 14.9% | — | — |
| Shareholder yield (dividends + buybacks) | 11.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.9% | 0.3% | 15.7% | — | — |
| Share price at fiscal year-end | $11.86 | $19.17 | $41.16 | $34.21 | $82.14 | $84.93 | $41.09 | $12.85 | — | — |
| Per share | ||||||||||
| Revenue per share | $4.05 | $3.66 | $1.41 | $2.47 | $0.93 | $0.55 | $1.31 | $0.45 | $0.37 | $0.37 |
| Earnings per share | −$1.24 | −$2.77 | −$6.62 | −$5.11 | −$3.66 | −$2.83 | −$1.89 | −$1.31 | −$1.16 | −$0.80 |
| Operating cash flow per share | −$4.22 | −$3.61 | −$6.27 | −$5.14 | $11.19 | −$2.27 | −$1.23 | −$0.51 | $0.25 | −$1.09 |
| Free cash flow per share | −$4.25 | −$3.63 | −$6.32 | −$5.27 | $11.09 | −$2.43 | −$1.42 | −$0.60 | $0.20 | −$1.10 |
| Cash per share | $10.56 | $14.46 | $22.72 | $22.66 | $30.05 | $17.42 | $8.53 | $5.94 | $1.89 | $1.99 |
| Book value per share | $6.68 | $7.81 | $11.89 | $10.62 | $15.63 | $16.24 | $6.88 | $4.32 | $0.01 | $1.34 |
| Tangible book value per share | $6.68 | $7.81 | $11.89 | $10.62 | $15.63 | $16.24 | $6.88 | $4.32 | $0.01 | $1.34 |
| Dividends per share | — | — | — | — | — | — | $0.10 | $1.91 | — | — |
| Capex per share | $0.03 | $0.03 | $0.05 | $0.13 | $0.09 | $0.16 | $0.19 | $0.09 | $0.05 | $0.02 |
| Debt per share | $0.14 | $0.13 | $0.06 | $0.10 | $0.10 | $0.10 | $0.13 | $0.07 | $0.01 | $0.03 |
| Shares outstanding | 64.9M | 71.9M | 55.5M | 53.2M | 50.0M | 39.5M | 32.9M | 31.6M | 20.7M | 17.9M |
| Change in shares outstanding | −9.7% | +29.5% | +4.3% | +6.4% | +26.5% | +20.1% | +4.1% | +52.6% | +16.0% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −16.2% | −32.6% | −60.0% | −40.4% | −25.7% | −25.7% | −34.2% | −60.6% | −198.1% | −59.7% |
| Return on assets (ROA) | −8.9% | −16.6% | −28.5% | −19.1% | −15.9% | −21.9% | −24.8% | −31.2% | −45.9% | −37.8% |
| Return on tangible assets | −11.3% | −18.2% | −28.2% | −21.4% | −11.6% | −15.6% | −20.6% | −20.8% | −36.0% | −37.8% |
| Free cash flow margin | −105.0% | −99.1% | −446.8% | −213.3% | — | −441.3% | −109.1% | −132.3% | 54.1% | −295.5% |
| Financial health | ||||||||||
| Total debt | $8.9M | $9.7M | $3.2M | $5.5M | $5.0M | $4.1M | $4.4M | $2.2M | $310,387 | $453,792 |
| Cash & short-term investments | $685.4M | $1.04B | $1.26B | $1.21B | $1.50B | $688.6M | $280.9M | $187.8M | $39.2M | $35.6M |
| Net debt | −$676.5M | −$1.03B | −$1.26B | −$1.20B | −$1.50B | −$684.5M | −$276.5M | −$185.7M | −$38.9M | −$35.1M |
| Debt / equity | 0.02 | 0.02 | 0.00 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 1.26 | 0.02 |
| Debt / assets | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 |
| Current ratio | 4.92 | 4.64 | 4.98 | 4.20 | 5.93 | 14.29 | 8.86 | 8.52 | 3.67 | 3.72 |
| Quick ratio | 4.92 | 4.64 | 4.98 | 4.18 | 5.92 | 14.29 | 8.86 | 8.52 | 3.67 | 3.72 |
| Interest coverage | — | — | — | -21.9 | — | — | -602.1 | -762.6 | -491.7 | -244.3 |
| Working capital | $558.2M | $837.5M | $1.02B | $945.1M | $1.29B | $653.9M | $258.1M | $172.7M | $47.7M | $27.2M |
| Invested capital | −$242.7M | −$468.0M | −$597.8M | −$634.9M | −$715.9M | −$42.3M | −$49.8M | −$49.0M | −$38.6M | −$11.1M |
| Tangible asset value | $433.8M | $561.7M | $660.0M | $564.9M | $781.7M | $642.2M | $226.7M | $136.7M | $245,870 | $24.0M |
| Net current asset value | $416.6M | $537.6M | $635.6M | $536.3M | $752.6M | $627.9M | $215.9M | $133.1M | −$1.1M | $23.4M |
| Graham net-net per share | $6.26 | $7.23 | $11.20 | $9.59 | $14.48 | $15.67 | $6.40 | $4.08 | −$0.38 | $1.27 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | $3.4M | $60.5M | — | — |
| Share buybacks (net) | $91.9M | $0 | $0 | $0 | $0 | $29.2M | $597,131 | $3.4M | — | — |
| Dividends + buybacks / free cash flow | — | — | — | — | 0.0% | — | — | — | — | — |
| Capex / revenue | 0.7% | 0.7% | 3.7% | 5.2% | 10.1% | 29.6% | 14.5% | 19.8% | 13.4% | 4.6% |
| Capex / operating cash flow | — | — | — | — | 0.8% | — | — | — | 19.8% | — |
| Capex / depreciation | 0.37 | 0.27 | 0.43 | 0.83 | 0.78 | 1.57 | 2.77 | 4.01 | 2.91 | 0.70 |
| Stock-based compensation / revenue | 16.8% | 33.5% | 91.2% | 57.5% | 122.3% | 138.5% | 46.7% | 81.2% | 3.2% | 7.9% |
| R&D / revenue | 107.7% | 132.2% | 483.7% | 239.7% | 386.3% | 497.0% | 156.4% | 315.5% | 379.9% | 299.0% |
| SG&A / revenue | 34.0% | 62.8% | 136.3% | 60.6% | 131.9% | 175.7% | 63.5% | 90.3% | 46.8% | 47.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 14.0 | 14.5 | 35.3 | 46.8 | 133.3 | 122.9 | 48.0 | 395.9 | 661.0 | 77.2 |
| Days of inventory on hand | — | — | — | 222.6 | 273.8 | — | — | — | — | — |
| Days payables outstanding | 1,326.6 | 862.7 | 640.1 | 823.5 | 1,168.0 | — | — | — | 12.3 | 25.0 |
| Cash conversion cycle (days) | -1,312.7 | -848.2 | -604.8 | -554.1 | -761.0 | — | — | — | 648.7 | 52.2 |
| Receivables turnover | 26.13 | 25.21 | 10.33 | 7.80 | 2.74 | 2.97 | 7.60 | 0.92 | 0.55 | 4.73 |
| Payables turnover | 0.28 | 0.42 | 0.57 | 0.44 | 0.31 | 0.00 | 0.00 | 0.00 | 29.59 | 14.61 |
| Inventory turnover | — | — | — | 1.64 | 1.33 | — | — | 0.00 | — | — |
| Asset turnover | 0.29 | 0.22 | 0.06 | 0.09 | 0.04 | 0.04 | 0.17 | 0.11 | 0.14 | 0.18 |
| Average receivables | $10.1M | $10.4M | $7.6M | $16.9M | $17.1M | $7.3M | $5.7M | $15.5M | $13.7M | $1.4M |
| Average payables | $18.9M | $15.6M | $11.8M | $18.5M | $19.2M | $5.8M | $3.7M | $1.7M | $1.1M | $1.6M |
| Average inventory | — | — | — | $5.0M | $4.5M | — | — | $1 | — | — |
| 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 ARVN's annual financial statements (latest annual report filed February 24, 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.
ARVN valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 26.8 and the forward P/E is 17.9. Arvinas earned a return on equity of −16.2% in fiscal 2025. It ended the year with $8.9 million of debt and $685.4 million in cash and short-term investments, a net cash position of $676.5 million. It returned $91.9 million to shareholders: $0 in dividends and $91.9 million in share buybacks. The share count rose 263.0% from 17.9M to 64.9M over 9 years.
See the ARVN income statement, the ARVN chart for price history, or the ARVN stock overview for the latest quote and news.
ARVN key metrics FAQ
What is Arvinas's P/E ratio?
Arvinas's trailing P/E ratio is 26.8 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 17.9. At the end of fiscal 2025 it was —.
What is Arvinas's return on equity?
Arvinas's return on equity (ROE) was −16.2% in fiscal 2025: net income of -$80.8 million on average shareholders' equity of $497.8 million.
How much debt does Arvinas have?
Arvinas had total debt of $8.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.02 and more cash than debt.
Does Arvinas buy back its shares?
Yes. Arvinas spent $91.9 million on net share repurchases in fiscal 2025 Shares outstanding changed −9.7% over the year, to 64.9M..
What is Arvinas's free cash flow yield?
Arvinas generated -$275.7 million of free cash flow in fiscal 2025, a free cash flow yield of −35.8% on its market value at year-end ($769.7 million).
What is Arvinas's current ratio?
Arvinas's current ratio was 4.92 at the end of fiscal 2025: current assets were 4.92 times current liabilities.