RCUS
Arcus Biosciences, Inc.
Next earnings Aug 4, 2026 (after close) · consensus $-0.94 EPS, $23.8M rev
Last earnings +0.0% on 2026-05-05
$31.00
▲ +2.48%$31.00▲ +259.21%
over 1Y
L $7.95EODHDH $31.00
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.5%
1W+13.8%
1M+29.3%
3M+52.9%
YTD+33.1%
1Y+259.2%
Hold
Conviction
Horizon
Long (>12mo)
Street · 18 analysts
Buy
Late-stage oncology biotech with a standout HIF-2 asset (casdatifan) but heavy cash burn, TIGIT failure, and serial dilution — speculative hold.
Revenue $33.0M · FY2025
Arcus is a binary clinical-stage story dressed up as a pipeline play. The economics are unambiguously pre-commercial: FY2025 revenue collapsed to $33M (down 35.3% YoY, almost entirely collaboration milestones from Taiho) against a $523M R&D budget and a $482M operating cash outflow that is nearly triple FY2024's $170M burn. Net loss was $353M, retained deficit has widened to -$1.49B, and net margin of -1,069.7% makes the headline 109.4x P/S meaningless — this stock is valued as an option on the pipeline, not on current financials. ROE of -55.9% and the steadily expanding share count (125M shares, up 18.4% YoY after two 2025 underwritten offerings raising ~$438M gross and a November raise of 15.8M shares at $18.25) confirm that public-market dilution is the operating model.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $383M | $38.0M | $37.0M | $51.0M | $33.0M |
| Gross profit | — | — | — | — | — |
| Operating income | $54.0M | -$280M | -$340M | -$330M | -$386M |
| Net income | $53.0M | -$267M | -$307M | -$283M | -$353M |
| Diluted EPS | $0.71 | -$3.71 | -$4.15 | -$3.14 | -$3.29 |
| Net margin | 13.8% | -702.6% | -829.7% | -554.9% | -1069.7% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$3.76B
EV / EBITDA—
EV / Sales114.0
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-9.1%
FCF yield-12.5%
Quality & risk
ROIC (est.)-41.8%
Free cash flow-$484M
Total debt$99.0M
Net cash$123M
Altman Z-Score1.01 distress
Piotroski F-Score0/8
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+18.4%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Shareholder vote2026-06-12
Annual meeting vote results disclosed; routine governance, no material change
- 8-K Earnings results2026-05-05
Q1 2026 report; continued heavy R&D spend, casdatifan advancing in Phase 3
- 10-Q Quarterly report2026-05-05
Q1 2026 report; continued heavy R&D spend, casdatifan advancing in Phase 3
- DEF 14A Proxy statement2026-04-21
Annual proxy filed; routine board/comp disclosures, no operational change
- 8-K Other event2026-04-20
Other event disclosed (Item 8.01); likely pipeline/regulatory update
- 8-K Officer / director change2026-03-23
Officer/director change announced under Item 5.02
- 8-K Earnings results2026-02-25
FY25 10-K: STAR-221 TIGIT failed for futility; casdatifan data strong; $222M cash
- 10-K Annual report2026-02-25
FY25 10-K: STAR-221 TIGIT failed for futility; casdatifan data strong; $222M cash
- 8-K Material agreement2025-12-18
New material agreement & debt obligation; likely Hercules term-loan tranche drawn
Recent filings
all on EDGAR ↗144Filing2026-06-24open ↗4Period ending 2026-06-222026-06-24open ↗144Filing2026-06-22open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗8-KPeriod ending 2026-06-112026-06-12open ↗
Frequently asked
- Is Arcus Biosciences, Inc. (RCUS) a buy?
- RCUS currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Late-stage oncology biotech with a standout HIF-2 asset (casdatifan) but heavy cash burn, TIGIT failure, and serial dilution — speculative hold.
- What is Arcus Biosciences, Inc.'s quality score?
- RCUS scores 29.039215686274506/100 (grade F) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001724521, latest 10-Q filed 2026-05-05) · EODHD · analysis by claude-code · as of 6/25/2026, 1:23:21 PM.
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