undamentalytics Newsletter
Sign in

Arbutus Biopharma Corp (ABUS) stock

Add to watchlist

Add holding +

NASDAQ: ABUS Nasdaq Biotechnology Next results ~November 16, 2026

B+ Fundamentals grade

Arbutus Biopharma Corp is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Model estimate per share

~$4.7

Revenue-to-maturity cash-flow model

Base case. Range ~$3.8–$5.6 across our lower- and higher-growth cases (25%–35% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Arbutus Biopharma Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds96 adding, 63 cuttingOf 34 active managers that changed their stake, 22 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Arbutus Biopharma files

Where Arbutus Biopharma stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $182m, up 1078.8% on a year earlier, slower than the 2889.9% growth a quarter earlier. That growth ranks 8 of 122 among the biotechnology companies we cover. Free-cash-flow margin rose to -13.6% from -391.0% a year earlier. Operating margin widened to 82.0% from -386.5%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 7 of our 7 financial-health checks. Our revenue-to-maturity cash-flow model value is $7.64 a share, against a share price of $4.29.

Source: 10-Q filed August 12, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 16, 2026 (estimated)

Arbutus Biopharma Corp's trailing-twelve-month revenue grew 1078.8% year on year, with a free-cash-flow margin of -13.6%. Where it stands out: net margin of 84.2% ranks 1 of 180 biotechnology companies we cover. Where it lags: change in growth rate of -1811.2pp ranks 169 of 172 biotechnology companies we cover.

Current signal Net margin expanding: TTM net margin reached 84.2%, up 436.1pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 1078.8% over the last 12 months, against a median of 12.6% for biotechnology companies we cover.
  • High operating margin. 82.0% of revenue is left as operating profit, against a median of -189.4% for biotechnology companies we cover.
  • Margins widening. Operating margin is up 468.5 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Results due soon. Results are expected around 12 November; the share price can move sharply on the day.
  • Growth slowing. The growth rate is 1811.2 points lower than a quarter earlier.
  • Burning cash. Free cash flow was -13.6% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 45% and a beta of 1.1 against the S&P 500.
  • Weak cash conversion. Free cash flow was -16% of net income over the last 12 months.
  • Heavily shorted. 27.8% of the shares available to trade are sold short (3.2 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 12, 2026
Earnings per share
-$0.04 against an average estimate of -$0.03: missed by 54.8%
Revenue
$1m, down 90.6% on a year earlier
Share reaction
-1.9% in the first session after the results on August 12, 2026, against +0.9% for the S&P 500
Next report
November 16, 2026

Arbutus Biopharma's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-5.0%
  • 1 week-4.8%
  • 1 month-10.1%
  • This year-16.8%
  • 1 year-15.4%
  • 5 years+3.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$182M
Operating margin
82.0%
Net margin
84.2%
EPS (TTM, diluted)
$0.79

Growth

Revenue growth
+1078.8%
Change in growth rate
−1811.2 pts
Share count change
+1.9%

Cash

Free cash flow (TTM)
-$24.6M
FCF margin
-13.6%
Stock pay % of revenue
3.0%

Earnings

Last results
August 12, 2026
Next results (est.)
November 12, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Results
  4. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Arbutus Biopharma Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Arbutus Biopharma Corp as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$4.7 ~$3.8–$5.6 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$7.4 ~$6.3–$16 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$1.1 ~$2.5–$8.6 Left out: far from the other models (more than 3x away from their median)
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$5.6 ~$4.7–$7.4 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Arbutus Biopharma Corp with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$4.45$2.45$5.05$3.83$2.78$3.55$3.89$2.33$2.50$3.27$4.81$4.00
Market value$202m$130m$276m$212m$159m$269m$413m$352m$415m$607m$922m$776m
+ Net debt (− = net cash)−$167m−$23m−$54m−$37m−$32m−$52m−$109m−$31m−$26m−$36m−$18m−$19m
Enterprise value$36m$107m$222m$175m$127m$217m$304m$321m$389m$571m$904m$757m
Multiples
Price / sales 8.7x87.2x25.8x35.6x26.4x38.9x37.6x9.0x22.9x98.4x65.4x4.3x
Price / earnings ———————————5.1x
Price / free cash flow ————————————
EV / EBITDA ———————————5.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

8 /100

Weak moat

How hard Arbutus Biopharma's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -47.3% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -654.0%; its worst year was -4317.2%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 10 years, at a median -627.6% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 117.8% over five years; stock-based pay has been a median 67.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (12 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 16, 2026, before the open. Analysts expect revenue of $1m for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.03 +540% $253m +1209%
Next −$0.11 −111% $6m −98%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.3% on 90 days ago. In the last 30 days, 1 analyst raised Arbutus Biopharma Corp's forecast and 0 cut it.

Consensus EPS forecast Arbutus Biopharma Corp, last 90 days
−$0.50 $0.00 $0.50 $1.00 $1.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.03 Current fiscal year, 60 days ago: $1.03 Current fiscal year, 30 days ago: $1.03 Current fiscal year, 7 days ago: $1.03 Current fiscal year, Now: $1.03 $1.03 Next fiscal year, 90 days ago: −$0.12 Next fiscal year, 60 days ago: −$0.12 Next fiscal year, 30 days ago: −$0.12 Next fiscal year, 7 days ago: −$0.12 Next fiscal year, Now: −$0.11 −$0.11

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.03−$0.12
60 days ago $1.03−$0.12
30 days ago $1.03−$0.12
7 days ago $1.03−$0.12
Now $1.03−$0.11

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.03 −$0.04 −54.8%
Mar 2026 −$0.06 $1.19 +2270.6%
Dec 2025 −$0.06 −$0.01 +75.0%
Sept 2025 −$0.05 −$0.06 −21.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 12, 2026

No numeric guidance in Arbutus Biopharma Corp's latest earnings release (filed August 12, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

1 analysts, Oct 2026
Buy1100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202611
  2. Sep 202611

Counts of recommendations published by analysts covering Arbutus Biopharma Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
27.8%
of tradable shares
Days to cover
3.22
at average volume
Short interest, 1 month
+33%
to October 15, 2026
Held by institutions
67%
of shares
Held by insiders
15.9%
of shares
Employees
19
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −15.4%

$4.73 on October 31, 2025 to $4.00

ThenNowEffect
Revenue (last 12 months) $15m $182m +1078.8%
P/S multiple 58.4x 4.3x −92.7%
Share count 190m 194m −1.8%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +108.3%

$1.92 on November 3, 2023 to $4.00

ThenNowEffect
Revenue (last 12 months) $24m $182m +672.1%
P/S multiple 12.9x 4.3x −67.0%
Share count 159m 194m −18.3%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ABUS+10%−40%+7%+31%+47%−17%
Industry peers (median)−36%−57%−18%−29%−5%−27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ABUS50%42%33%42%75%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ABUS−48%−53%−46%−30%−20%−25%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 93% from August 2, 2018 to October 9, 2019. Getting back needed a 1320% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.67 – $5.22
From 52-week high
−23.4%
vs 50-day average
−14.7%
vs 200-day average
−11.0%
Volatility (1 year)
45%
Beta vs S&P 500
1.15

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±2.6%
After a week
5 up, 7 down
typical move ±5.0%
After a month
8 up, 4 down
typical move ±8.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 12, 2026 −1.9% +0.9% +6.6% +9.6%
May 13, 2026 +0.9% +1.4% +1.4% −1.2%
March 23, 2026 +1.7% +0.7% +1.4% +4.5%
November 13, 2025 −6.6% −1.7% −13.2% +2.3%
August 6, 2025 −0.3% +0.7% −1.2% +23.2%
May 14, 2025 −2.2% +0.6% −0.6% +10.7%
March 27, 2025 +4.5% −2.3% +4.8% −0.3%
January 13, 2025 −3.3% +0.3% −2.4% +0.6%
November 6, 2024 −5.8% +3.3% −7.8% −7.1%
August 1, 2024 −0.8% −3.3% −4.5% +2.7%
May 2, 2024 +0.7% +2.2% +9.3% +27.1%
February 29, 2024 −3.1% +1.3% −6.2% −11.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Arbutus Biopharma Corp in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Arbutus Biopharma Corp
$0 $50M $100M $150M $200M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $22.2M Revenue (TTM), FY23 Q4: $18.1M Revenue (TTM), FY24 Q1: $13M Revenue (TTM), FY24 Q2: $10.1M Revenue (TTM), FY24 Q3: $6.7M Revenue (TTM), FY24 Q4: $6.2M Revenue (TTM), FY25 Q1: $6.4M Revenue (TTM), FY25 Q2: $15.4M Revenue (TTM), FY25 Q3: $14.6M Revenue (TTM), FY25 Q4: $14.1M Revenue (TTM), FY26 Q1: $191.4M Revenue (TTM), FY26 Q2: $181.7M $181.7M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $22.2M
FY23 Q4 $18.1M
FY24 Q1 $13M
FY24 Q2 $10.1M
FY24 Q3 $6.7M
FY24 Q4 $6.2M
FY25 Q1 $6.4M
FY25 Q2 $15.4M
FY25 Q3 $14.6M
FY25 Q4 $14.1M
FY26 Q1 $191.4M
FY26 Q2 $181.7M
Revenue growth, TTM YoY Arbutus Biopharma Corp
-1000% 0% 1000% 2000% 3000% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -38.2% Revenue growth, TTM YoY, FY23 Q4: -53.5% Revenue growth, TTM YoY, FY24 Q1: -60.8% Revenue growth, TTM YoY, FY24 Q2: -57.3% Revenue growth, TTM YoY, FY24 Q3: -69.7% Revenue growth, TTM YoY, FY24 Q4: -66.0% Revenue growth, TTM YoY, FY25 Q1: -50.7% Revenue growth, TTM YoY, FY25 Q2: 53.2% Revenue growth, TTM YoY, FY25 Q3: 116.6% Revenue growth, TTM YoY, FY25 Q4: 128.2% Revenue growth, TTM YoY, FY26 Q1: 2889.9% Revenue growth, TTM YoY, FY26 Q2: 1078.8% 1078.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -38.2%
FY23 Q4 -53.5%
FY24 Q1 -60.8%
FY24 Q2 -57.3%
FY24 Q3 -69.7%
FY24 Q4 -66.0%
FY25 Q1 -50.7%
FY25 Q2 53.2%
FY25 Q3 116.6%
FY25 Q4 128.2%
FY26 Q1 2889.9%
FY26 Q2 1078.8%
Operating margin (TTM) Arbutus Biopharma Corp
-1500% -1000% -500% 0% 500% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -359.3% Operating margin (TTM), FY23 Q4: -430.5% Operating margin (TTM), FY24 Q1: -616.5% Operating margin (TTM), FY24 Q2: -827.5% Operating margin (TTM), FY24 Q3: -1233.1% Operating margin (TTM), FY24 Q4: -1236.7% Operating margin (TTM), FY25 Q1: -1290.9% Operating margin (TTM), FY25 Q2: -386.5% Operating margin (TTM), FY25 Q3: -320.4% Operating margin (TTM), FY25 Q4: -271.0% Operating margin (TTM), FY26 Q1: 81.7% Operating margin (TTM), FY26 Q2: 82.0% 82.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -359.3%
FY23 Q4 -430.5%
FY24 Q1 -616.5%
FY24 Q2 -827.5%
FY24 Q3 -1233.1%
FY24 Q4 -1236.7%
FY25 Q1 -1290.9%
FY25 Q2 -386.5%
FY25 Q3 -320.4%
FY25 Q4 -271.0%
FY26 Q1 81.7%
FY26 Q2 82.0%
FCF margin (TTM) Arbutus Biopharma Corp
-1500% -1000% -500% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -390.2% FCF margin (TTM), FY23 Q4: -479.3% FCF margin (TTM), FY24 Q1: -607.7% FCF margin (TTM), FY24 Q2: -725.6% FCF margin (TTM), FY24 Q3: -1066.8% FCF margin (TTM), FY24 Q4: -1053.8% FCF margin (TTM), FY25 Q1: -922.0% FCF margin (TTM), FY25 Q2: -391.0% FCF margin (TTM), FY25 Q3: -310.5% FCF margin (TTM), FY25 Q4: -281.5% FCF margin (TTM), FY26 Q1: -17.9% FCF margin (TTM), FY26 Q2: -13.6% -13.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -390.2%
FY23 Q4 -479.3%
FY24 Q1 -607.7%
FY24 Q2 -725.6%
FY24 Q3 -1066.8%
FY24 Q4 -1053.8%
FY25 Q1 -922.0%
FY25 Q2 -391.0%
FY25 Q3 -310.5%
FY25 Q4 -281.5%
FY26 Q1 -17.9%
FY26 Q2 -13.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 20-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 17 14 15 15 23 1 11 6 6 7 11 39 18 6 14 182
EBITDA −10 −12 −12 −33 −103 −491 −109 −88 −142 −56 −72 −64 −77 −75 −38 149
Operating income −11 −13 −12 −33 −104 −492 −111 −90 −144 −58 −74 −65 −78 −76 −38 149
Net income −10 30 −14 −39 −63 −384 −84 −57 −154 −64 −76 −69 −73 −70 −34 153
Diluted EPS −$0.45 $1.03 −$0.46 −$0.90 −$1.38 −$7.24 −$1.56 −$1.21 −$2.89 −$1.00 −$0.83 −$0.46 −$0.44 −$0.38 −$0.17 $0.79
Growth (year on year)
Revenue — −16.1% +9.6% −3.3% +55.7% −93.6% +617.6% −44.4% +1.1% +15.0% +58.9% +255.1% −53.5% −66.0% +128.2% +>999%
Net income — — −147.5% — — — — — — — — — — — — —
Diluted EPS — — −144.4% — — — — — — — — — — — — —
Margins
EBITDA margin −57.7% −85.6% −74.6% −220.1% −443.9% <−999% <−999% <−999% <−999% −807.5% −653.2% −164.1% −422.8% <−999% −268.4% 82.0%
Operating margin −63.6% −91.8% −78.6% −223.6% −446.5% <−999% <−999% <−999% <−999% −836.1% −669.1% −167.8% −430.5% <−999% −271.0% 82.0%
Net margin −60.0% 209.9% −90.9% −259.7% −269.5% <−999% −788.9% −959.8% <−999% −922.0% −693.9% −178.0% −401.6% <−999% −237.9% 84.2%
Free-cash-flow margin −46.9% 233.2% −48.3% −90.1% −252.1% <−999% −522.5% <−999% <−999% −747.3% −622.0% −91.9% −479.3% <−999% −281.5% −13.6%
Cash flow
Cash from operations −8 33 −7 −12 −56 −58 −49 −68 −71 −51 −68 −35 −86 −65 −40 −25
Capital spending 0 0 1 1 2 4 7 1 1 0 1 1 1 0 0 0
Free cash flow −8 33 −7 −13 −59 −62 −56 −69 −72 −52 −68 −36 −87 −65 −40 −25
Stock-based pay 1 1 1 3 22 39 15 6 7 6 6 7 9 9 7 5
Free cash flow after stock pay −9 32 −8 −17 −81 −101 −71 −75 −78 −58 −75 −43 −96 −74 −47 −30
Balance sheet
Cash 9 47 69 72 167 23 54 37 32 52 109 31 26 36 18 19
Total debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −9 −47 −69 −72 −167 −23 −54 −37 −32 −52 −109 −31 −26 −36 −18 −19
Diluted shares 23m 29m 31m 43m 45m 53m 55m 55m 57m 76m 106m 151m 166m 186m 192m 194m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

7 of 7 checks passed · June 30, 2026
What it owns · $274m
Short-term assets $274mLonger-term assets $0m
What it owes, and who funded it · $274m
Short-term liabilities $3mLonger-term liabilities $12mShareholders' equity $259m
  • Short-term assets cover short-term liabilities $274m of assets due within a year against $3m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $274m short-term assets against $12m of longer-dated liabilities.
  • More cash than debt $19m of cash against $0 of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 0% over five years.
  • A year's operating cash flow covers at least 20% of debt No debt to cover.
  • Operating profit covers interest at least five times over Operating income of $149m against $76,000 of interest.

From Arbutus Biopharma Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+1.9%
year over year
R&D spending
9.8%
of revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated ABUS URGN NUVB VALN IBRX BEAM Median
Revenue, last 12 months $182m $189m $170m $197m $166m $156m $56m
Revenue growth, last 12 months >999% 100.3% >999% 7.6% 192.9% 158.9% 12.6%
Revenue growth, 3-year average 97.6% 37.6% — — 554.3% 24.9% 13.7%
Revenue growth, latest quarter −90.6% 199.2% 555.6% — 93.9% −94.2% 10.2%
Gross margin — 90.8% 54.3% 38.7% 99.3% — 82.9%
Operating margin 82.0% −35.3% −81.0% −47.0% −151.9% −242.3% −189.4%
Operating margin, 3-year average −377.3% −86.7% <−999% — <−999% −344.8% −363.5%
Net margin 84.2% −51.7% −88.2% −66.0% −598.6% −54.7% −169.8%
Cash from operations / revenue −13.6% −84.2% −70.9% −30.3% −169.6% −230.3% −168.0%
Free-cash-flow margin −13.6% −84.3% −72.2% −32.8% −173.8% −238.9% −162.4%
Free-cash-flow margin, 3-year average −376.7% −105.5% <−999% — <−999% −290.8% −310.0%
Stock pay / revenue 3.0% 8.5% 20.9% 5.5% 20.7% 52.2% 20.0%
Change in share count 1.9% 4.7% 9.5% 15.4% 26.1% 16.3% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth 1078.8% 12.6% 10 of 172
Change in growth rate Growth -1811.2pp -0.1pp 169 of 172
Operating margin Profitability 82.0% -189.4% 2 of 175
Net margin Profitability 84.2% -157.3% 1 of 180
Free-cash-flow margin Cash generation -13.6% -145.4% 52 of 176
Stock pay as % of revenue Cash generation 3.0% 19.2% 19 of 179
Long-term debt as % of assets Balance sheet 0.0% 20.6% 1 of 78
Change in share count Balance sheet 1.9% 7.9% 43 of 156

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Collaboration and Contracts $12.6M 89.5% ▲ 221.5%
Non Cash Royalty $1.5M 10.5% ▼ 34.2%

From Arbutus Biopharma Corp's 10-K filed March 23, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$675M
Institutions reporting
177
Shares held vs prior quarter
▲ 1.1%
Positions opened / closed
34 / 22

Top buyers and sellers, Q2 2026: 96 institutions bought and 63 sold ; the biggest buyer was Goldman Sachs Group Inc (+2.4M shares) and the biggest seller Morgan Stanley (−8.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Two Seas Capital LP $91.7M 19.1M 13.6% ▲ 2.9%
Morgan Stanley $85M 17.7M 12.6% ▼ 31.6%
Whitefort Capital Management, LP $75.8M 15.8M 11.2% ▲ 5.8%
Blackrock, Inc. $66.1M 13.8M 9.8% ▲ 6.2%
State Street Corp $37.8M 7.9M 5.6% ▲ 24.1%
Rubric Capital Management LP $36.2M 7.5M 5.4% ▲ 13.7%
Vanguard Capital Management LLC $33.7M 7.0M 5.0% ▲ 4.8%
Barclays PLC $20.2M 4.2M 3.0% ▼ 2.5%
Geode Capital Management, LLC $19.8M 4.1M 2.9% ▲ 9.2%
Goldman Sachs Group Inc $16.8M 3.5M 2.5% ▲ 218.7%
Bank Of America Corp $12.7M 2.6M 1.9% ▲ 57.2%
Blackbarn Capital Partners LP $12M 2.5M 1.8% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Arbutus Biopharma Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 12, 2026 estimated from the company's past filing pattern, not announced

  • August 12, 2026
  • May 13, 2026
  • March 23, 2026
  • November 13, 2025
  • August 6, 2025
  • May 14, 2025

Recent SEC filings

Data status

When each part of this page on Arbutus Biopharma Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Arbutus Biopharma Corp in brief

What does Arbutus Biopharma Corp do?
Arbutus Biopharma Corp is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Arbutus Biopharma Corp's stock ticker?
Arbutus Biopharma Corp trades under the ticker ABUS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Arbutus Biopharma Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Arbutus Biopharma Corp reported revenue of $182M, 1078.8% higher than a year earlier, according to its SEC filings.
What is Arbutus Biopharma Corp's free cash flow?
Arbutus Biopharma Corp's free-cash-flow margin is -13.6% of revenue over the trailing twelve months, ranking 52 of the 176 biotechnology companies we cover.
Who are Arbutus Biopharma Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Two Seas Capital LP, Morgan Stanley and Whitefort Capital Management, LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Arbutus Biopharma Corp's market cap?
On November 2, 2026, Arbutus Biopharma Corp's market capitalisation was about $776M, with a price-to-earnings ratio of 5.1 and net debt of -$19.2M. Market figures come from third-party market data and may be delayed.
How much debt does Arbutus Biopharma Corp have?
Arbutus Biopharma Corp's debt-to-equity ratio is 0.0%, from its latest balance sheet (0.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Arbutus Biopharma Corp's competitors?
In our Biotechnology peer group, the companies closest to Arbutus Biopharma Corp are Urogen Pharma Ltd., Nuvation Bio Inc., Valneva SE, Immunitybio, Inc. and Beam Therapeutics Inc. The side-by-side comparison below sets their revenue, margins and growth against Arbutus Biopharma Corp's.
When is Arbutus Biopharma Corp's next earnings date?
Around November 16, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Arbutus Biopharma Corp announces its own schedule.