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Revolution Medicines, Inc. key statistics and ratios

In fiscal 2025, Revolution Medicines, Inc. had return on equity of -58.1%, debt equal to 0.0% of equity and a current ratio of 7.14. 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 year2018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025
Operating margin−200.0%−108.2%−257.5%−639.7%−730.0%<−999%——
Net margin−207.2%−95.2%−251.6%−636.6%−703.0%<−999%——
Free-cash-flow margin−1.4%−104.3%−239.6%−523.0%−664.8%<−999%——
Return on equity——−67.2%−34.7%−38.6%−34.8%−29.3%−58.1%
Return on assets—−21.6%−27.5%−28.7%−32.1%−30.4%−26.0%−46.1%
Asset turnover—0.230.110.040.050.01——
Current ratio—3.119.639.7710.6513.0614.207.14
Debt to equity——0.0%0.0%0.0%0.0%0.0%0.0%
Interest cover (operating income ÷ interest)n/mn/mn/mn/m———n/m
R&D as % of revenue253.3%183.4%307.7%636.1%715.3%>999%——
Capital spending as % of revenue7.4%5.2%6.8%22.2%30.6%66.7%——

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

4 of 6 checks passed · June 30, 2026
What it owns · $4.3bn
Short-term assets $4.0bnLonger-term assets $295m
What it owes, and who funded it · $4.3bn
Short-term liabilities $354mLonger-term liabilities $1.4bnShareholders' equity $2.6bn
  • Short-term assets cover short-term liabilities $4.0bn of assets due within a year against $354m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $4.0bn short-term assets against $1.4bn of longer-dated liabilities.
  • More cash than debt $815m of cash against $487m of debt.
  • Debt below 40% of shareholders' equity Debt is 19% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$1.2bn of operating cash flow against $487m of debt.
  • Operating profit covers interest at least five times over Operating income of −$1.6bn against $59m of interest.

From Revolution Medicines, 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

8 /100

Weak moat

How hard Revolution Medicines's competitive advantage looks for rivals to wear away, judged from 7 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 -28.7% of total assets over 7 years.

  • Durability 10 / 20

    Operating margin has been a median -845.4%; its worst year was -88031.9%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 5 years, at a median -715.0% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 188.0% over five years; stock-based pay has been a median 98.5% 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.

More: Biotechnology stocks compared, Health Care sector, rankings of US companies

Figures from Revolution Medicines, Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Revolution Medicines, Inc.