Arrowhead Pharmaceuticals, Inc. (ARWR) Key Metrics
ARWR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $7.90B
- Enterprise value
- $8.84B
- P/E (TTM)
- —
- Forward P/E
- 111.1
- PEG ratio
- —
- Price / sales
- 11.8 10-yr median 16.5
- Price / book
- 20.6 10-yr median 10.2
- EV / EBITDA
- 27.9
- Dividend yield
- —
- Beta
- 1.30
ARWR key metrics, FY2016–FY2025
Fiscal year ended September 30, 2025 · U.S. dollarsARWR valuation Price multiples at each fiscal year-end price.
Price / sales−99.1%
5.6
FY2025 · hover or tap a bar for each year
FY2016FY2025
Price / book−20.9%
9.9
FY2025 · hover or tap a bar for each year
FY2016FY2025
EV / EBITDA
24.6
FY2025 · hover or tap a bar for each year
FY2016FY2025
Price / free cash flow
29.4
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow yield+29.4 pts
3.4%
FY2025 · hover or tap a bar for each year
FY2016FY2025
ARWR returns How much profit the business earns on the capital it uses.
Return on equity+262.0 pts
−0.5%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Return on assets+62.8 pts
−0.1%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow margin
18.9%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Asset turnover+17,525.3%
0.66
FY2025 · hover or tap a bar for each year
FY2016FY2025
ARWR per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+20,817.9%
$6.20
FY2025 · hover or tap a bar for each year
FY2016FY2025
Earnings per share
−$0.01
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow per share
$1.17
FY2025 · hover or tap a bar for each year
FY2016FY2025
Book value per share+125.1%
$3.48
FY2025 · hover or tap a bar for each year
FY2016FY2025
Shares outstanding+11.7%
133.8M
FY2025 · hover or tap a bar for each year
FY2016FY2025
ARWR financial health Debt, liquidity and how easily interest is covered.
Debt / equity−82.9%
0.79
FY2025 · hover or tap a bar for each year
FY2016FY2025
Net debt−$724.0M
−$553.1M
FY2025 · hover or tap a bar for each year
FY2016FY2025
Net debt / EBITDA
−3.36
FY2025 · hover or tap a bar for each year
FY2016FY2025
Current ratio−27.9%
4.86
FY2025 · hover or tap a bar for each year
FY2016FY2025
Interest coverage
1.1
FY2025 · hover or tap a bar for each year
FY2016FY2025
Debt / assets−64.6%
0.26
FY2025 · hover or tap a bar for each year
FY2016FY2025
ARWR efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding+2 days
2 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Days payables outstanding−242 days
222 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Cash conversion cycle+244 days
-220 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Capex / revenue−3,981.2 pts
2.7%
FY2025 · hover or tap a bar for each year
FY2016FY2025
ARWR valuation history
Fiscal year-endToday10-year median
ARWR returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ARWR debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ARWR cash returned to shareholders
DividendsBuybacksFree cash flow
ARWR price vs earnings per share
Share price at year-endEPS (right axis)
ARWR key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.61B | $2.32B | $2.87B | $3.48B | $6.48B | $4.34B | $2.78B | $1.60B | $320.0M | $448.7M |
| Enterprise value | $4.06B | $2.49B | $2.85B | $3.19B | $6.13B | $4.04B | $2.53B | $1.53B | $256.9M | $366.1M |
| P/E ratio | — | — | — | — | — | — | 40.9 | — | — | — |
| Price / sales | 5.6 | 653.4 | 11.9 | 14.3 | 46.8 | 49.3 | 16.5 | 99.3 | 10.2 | — |
| Price / book | 9.9 | 12.5 | 10.6 | 8.7 | 15.8 | 9.4 | 11.4 | 16.7 | 3.9 | 4.7 |
| Price / free cash flow | 29.4 | — | — | — | 43.8 | — | 17.3 | — | — | — |
| Price / operating cash flow | 25.7 | — | — | — | 37.8 | — | 16.1 | — | — | — |
| EV / sales | 4.9 | 701.5 | 11.8 | 13.1 | 44.4 | 45.9 | 15.0 | 94.7 | 8.2 | — |
| EV / EBITDA | 24.6 | — | — | — | — | — | 38.6 | — | — | — |
| EV / free cash flow | 25.9 | — | — | — | 41.5 | — | 15.7 | — | — | — |
| Earnings yield | −0.0% | −25.8% | −7.2% | −5.1% | −2.2% | −1.9% | 2.4% | −3.4% | −10.7% | −18.2% |
| Free cash flow yield | 3.4% | −26.0% | −11.5% | −5.4% | 2.3% | −2.5% | 5.8% | −3.0% | −10.0% | −15.2% |
| Dividend yield | — | — | — | — | — | — | — | 0.0% | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% |
| Share price at fiscal year-end | $34.49 | $19.37 | $26.87 | $33.05 | $62.43 | $43.06 | $28.18 | $19.17 | $4.33 | $7.35 |
| Per share | ||||||||||
| Revenue per share | $6.20 | $0.03 | $2.26 | $2.31 | $1.33 | $0.87 | $1.71 | $0.19 | $0.43 | $0.00 |
| Earnings per share | −$0.01 | −$5.00 | −$1.92 | −$1.67 | −$1.36 | −$0.84 | $0.69 | −$0.65 | −$0.47 | −$1.34 |
| Operating cash flow per share | $1.34 | −$3.86 | −$1.44 | −$1.29 | $1.65 | −$0.95 | $1.75 | −$0.56 | −$0.32 | −$1.06 |
| Free cash flow per share | $1.17 | −$5.05 | −$3.10 | −$1.79 | $1.42 | −$1.07 | $1.63 | −$0.58 | −$0.43 | −$1.12 |
| Cash per share | $6.87 | $5.68 | $3.78 | $3.57 | $3.55 | $3.13 | $2.62 | $0.92 | $0.89 | $1.40 |
| Book value per share | $3.48 | $1.55 | $2.54 | $3.78 | $3.94 | $4.58 | $2.48 | $1.15 | $1.10 | $1.57 |
| Tangible book value per share | $3.43 | $1.48 | $2.45 | $3.67 | $3.81 | $4.28 | $2.13 | $0.70 | $0.55 | $0.84 |
| Dividends per share | — | — | — | — | — | — | — | $0.00 | $0.00 | $0.00 |
| Capex per share | $0.17 | $1.18 | $1.66 | $0.50 | $0.23 | $0.12 | $0.12 | $0.02 | $0.11 | $0.06 |
| Debt per share | $2.74 | $7.11 | $3.59 | $0.77 | $0.25 | $0.21 | $0.12 | $0.03 | $0.03 | $0.04 |
| Shares outstanding | 133.8M | 119.8M | 106.8M | 105.4M | 103.7M | 100.7M | 98.6M | 83.6M | 73.9M | 61.1M |
| Change in shares outstanding | +11.7% | +12.2% | +1.3% | +1.6% | +3.0% | +2.1% | +17.9% | +13.2% | +21.0% | +6.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −0.5% | −262.5% | −61.3% | −43.7% | −32.4% | −23.9% | 39.9% | −61.5% | −38.8% | −79.4% |
| Return on invested capital (ROIC) | — | −156.3% | −91.3% | −165.6% | −100.6% | −89.2% | — | −221.3% | −186.8% | −514.1% |
| Return on assets (ROA) | −0.1% | −62.9% | −28.2% | −25.2% | −22.9% | −19.4% | 29.5% | −50.5% | −29.6% | −62.8% |
| Return on tangible assets | −0.1% | −53.0% | −27.2% | −26.0% | −20.2% | −17.2% | 21.5% | −73.5% | −54.5% | −97.5% |
| Free cash flow margin | 18.9% | — | −137.3% | −77.7% | 106.8% | −122.5% | 95.4% | −301.3% | −101.4% | — |
| Income quality (OCF / net income) | — | — | — | — | — | — | 2.55 | — | — | — |
| Financial health | ||||||||||
| Total debt | $366.3M | $851.9M | $383.5M | $81.6M | $25.5M | $21.1M | $11.6M | $2.3M | $2.5M | $2.7M |
| Cash & short-term investments | $919.4M | $681.0M | $403.6M | $376.4M | $367.8M | $315.5M | $258.7M | $76.5M | $65.6M | $85.4M |
| Net debt | −$553.1M | $171.0M | −$20.1M | −$294.8M | −$342.2M | −$294.4M | −$247.1M | −$74.2M | −$63.1M | −$82.6M |
| Debt / equity | 0.79 | 4.59 | 1.41 | 0.20 | 0.06 | 0.05 | 0.05 | 0.02 | 0.03 | 0.03 |
| Debt / assets | 0.26 | 0.75 | 0.50 | 0.12 | 0.04 | 0.04 | 0.03 | 0.02 | 0.02 | 0.02 |
| Net debt / EBITDA | −3.36 | — | — | — | — | — | −3.76 | — | — | — |
| Current ratio | 4.86 | 6.74 | 3.98 | 2.92 | 2.62 | 7.92 | 2.73 | 6.37 | 3.63 | 3.53 |
| Quick ratio | 4.86 | 6.74 | 3.98 | 3.07 | 2.59 | 7.82 | 2.70 | 6.27 | 3.58 | 3.48 |
| Interest coverage | 1.1 | -18.6 | -11.2 | -35.5 | -24.4 | -0.0 | 0.0 | -0.1 | -0.1 | -0.3 |
| Working capital | $755.2M | $592.3M | $314.1M | $266.4M | $238.1M | $281.7M | $168.2M | $66.4M | $49.2M | $64.9M |
| Invested capital | −$87.0M | $356.4M | $251.2M | $103.7M | $66.6M | $167.4M | −$2.5M | $21.6M | $18.3M | $12.9M |
| Tangible asset value | $496.6M | $182.5M | $276.9M | $406.4M | $395.2M | $431.1M | $209.9M | $57.7M | $39.9M | $50.7M |
| Net current asset value | $68.8M | −$253.3M | −$58.9M | $131.7M | $83.3M | $261.6M | $159.4M | $62.4M | $44.7M | $57.4M |
| Graham number | — | — | — | — | — | — | $6.20 | — | — | — |
| Graham net-net per share | $0.32 | −$2.24 | −$0.70 | $0.88 | $0.74 | $2.56 | $1.57 | $0.73 | $0.58 | $0.87 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Share buybacks (net) | — | — | — | $0 | $0 | $0 | $0 | $54,667 | $438,838 | $634,187 |
| Dividends + buybacks / free cash flow | — | — | — | — | 0.0% | — | 0.0% | — | — | — |
| Capex / revenue | 2.7% | 3,983.9% | 73.4% | 21.7% | 17.0% | 13.6% | 7.1% | 8.8% | 25.2% | 2,438.0% |
| Capex / operating cash flow | 12.6% | — | — | — | 13.8% | — | 6.9% | — | — | — |
| Capex / depreciation | 0.95 | 7.61 | 14.15 | 5.06 | 2.85 | 2.01 | 2.70 | 0.30 | 1.69 | 1.18 |
| Stock-based compensation / revenue | 7.6% | 2,083.0% | 32.5% | 49.7% | 55.4% | 49.3% | 7.3% | 52.4% | 25.1% | 7,323.7% |
| R&D / revenue | 73.2% | 13,776.9% | 142.2% | 122.2% | 149.2% | 140.4% | 45.4% | 299.2% | 147.3% | 26,181.8% |
| SG&A / revenue | 14.7% | 2,781.2% | 38.4% | 51.2% | 58.6% | 59.4% | 15.7% | 118.4% | 55.7% | 14,902.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 1.5 | 0.0 | 1.1 | 8.8 | 14.6 | 3.1 | 1.1 | 4.5 | 0.8 | 172.9 |
| Days of inventory on hand | — | — | — | -302.1 | — | — | 1,978,471.3 | 5.8 | 6.2 | 2.9 |
| Days payables outstanding | 221.7 | 463.8 | 565.8 | 215.8 | — | — | 4,511,166.6 | 18.6 | 46.7 | 38.2 |
| Cash conversion cycle (days) | -220.2 | -463.8 | -564.8 | -509.2 | — | — | -2,532,694.2 | -8.4 | -39.7 | 137.5 |
| Receivables turnover | 243.10 | — | 341.47 | 41.70 | 24.92 | 116.78 | 341.44 | 81.70 | 439.89 | 2.11 |
| Payables turnover | 1.65 | 0.79 | 0.65 | 1.69 | 0.00 | 0.00 | 0.00 | 19.58 | 7.81 | 9.55 |
| Inventory turnover | — | — | — | — | 0.00 | 0.00 | 0.00 | 63.12 | 59.07 | 127.84 |
| Asset turnover | 0.66 | 0.00 | 0.33 | 0.35 | 0.22 | 0.20 | 0.73 | 0.15 | 0.27 | 0.00 |
| Average receivables | $3.4M | $0 | $705,000 | $5.8M | $5.6M | $753,517 | $494,368 | $197,586 | $71,398 | $75,000 |
| Average payables | $14.5M | $23.6M | $19.4M | $6.2M | $8.1M | $7.2M | $5.2M | $3.4M | $8.2M | $8.6M |
| Average inventory | — | — | — | −$8.6M | $4.3M | $3.8M | $2.3M | $1.1M | $1.1M | $644,962 |
| Intangibles / total assets | 0.5% | 0.8% | 1.3% | 1.7% | 1.9% | 5.9% | 9.8% | 33.6% | 39.3% | 34.6% |
Computed from ARWR's annual financial statements (latest annual report filed November 25, 2025) 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.
ARWR valuation and financial ratios
Arrowhead Pharmaceuticals earned a return on equity of −0.5% in fiscal 2025. It ended the year with $366.3 million of debt and $919.4 million in cash and short-term investments, a net cash position of $553.1 million. The share count rose 119.1% from 61.1M to 133.8M over 9 years.
See the ARWR income statement, the ARWR chart for price history, or the ARWR stock overview for the latest quote and news.
ARWR key metrics FAQ
What is Arrowhead Pharmaceuticals's EV/EBITDA?
Arrowhead Pharmaceuticals's enterprise value was 24.6 times EBITDA at the end of fiscal 2025 (enterprise value $4.1 billion, EBITDA $164.8 million); the current EV/EBITDA is 27.9.
What is Arrowhead Pharmaceuticals's return on equity?
Arrowhead Pharmaceuticals's return on equity (ROE) was −0.5% in fiscal 2025: net income of -$1.6 million on average shareholders' equity of $325.7 million.
How much debt does Arrowhead Pharmaceuticals have?
Arrowhead Pharmaceuticals had total debt of $366.3 million at the end of fiscal 2025, a debt-to-equity ratio of 0.79 and more cash than debt.
What is Arrowhead Pharmaceuticals's free cash flow yield?
Arrowhead Pharmaceuticals generated $156.9 million of free cash flow in fiscal 2025, a free cash flow yield of 3.4% on its market value at year-end ($4.6 billion).
What is Arrowhead Pharmaceuticals's current ratio?
Arrowhead Pharmaceuticals's current ratio was 4.86 at the end of fiscal 2025: current assets were 4.86 times current liabilities.