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Arcutis Biotherapeutics, Inc. key statistics and ratios

In fiscal 2025, Arcutis Biotherapeutics, Inc. had return on equity of -9.3%, an operating margin of -3.3%, debt equal to 57.5% of equity and a current ratio of 3.17. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin——79.5%91.6%90.3%90.2%91.1%
Operating margin——<−999%−404.5%−65.3%−3.3%7.4%
Net margin——<−999%−439.8%−71.3%−4.3%6.1%
Free-cash-flow margin——<−999%−415.2%−57.1%−1.7%8.4%
Return on equity−50.1%−72.6%−122.8%−175.8%−113.8%−9.3%13.9%
Return on assets−45.5%−58.4%−72.6%−66.3%−40.6%−4.1%6.2%
Asset turnover——0.010.150.570.961.01
Current ratio12.9612.0911.577.084.153.172.92
Debt to equity0.0%25.2%95.4%227.6%68.0%57.5%49.4%
Interest cover (operating income ÷ interest)——n/mn/mn/mn/m2.5x
R&D as % of revenue——>999%185.5%38.9%20.5%19.6%
SG&A as % of revenue——>999%310.6%116.7%73.0%64.1%
Capital spending as % of revenue——9.0%0.7%0.1%0.2%0.0%
Free cash flow ÷ net income——————137.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 7 checks passed · June 30, 2026
What it owns · $489m
Short-term assets $468mLonger-term assets $21m
What it owes, and who funded it · $489m
Short-term liabilities $160mLonger-term liabilities $108mShareholders' equity $221m
  • Short-term assets cover short-term liabilities $468m of assets due within a year against $160m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $468m short-term assets against $108m of longer-dated liabilities.
  • More cash than debt $34m of cash against $109m of debt.
  • Debt below 40% of shareholders' equity Debt is 49% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 24% to 49% over five years.
  • A year's operating cash flow covers at least 20% of debt $39m of operating cash flow against $109m of debt.
  • Operating profit covers interest at least five times over Operating income of $34m against $14m of interest.

From Arcutis Biotherapeutics, Inc.'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.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

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

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Figures from Arcutis Biotherapeutics, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Arcutis Biotherapeutics, Inc.