ARVNARVINAS, INC.
Pharmaceutical Preparations
- Revenue
- $263M
- 0.3% YoY
- Operating margin
- -45.1%
- 52% YoY
- EBITDA
- −$116M
- 53% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$94M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired17% of revenueOver 10% of revenue
- Payouts exceed cash flowClear-34% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $47M | $131M | $79M | $263M | $263M | 0.3% |
| Operating income | −$188M | −$263M | −$402M | −$250M | −$119M | 53% |
| Net income | −$191M | −$283M | −$367M | −$199M | −$81M | 59% |
| Operating cash flow | $559M | −$274M | −$348M | −$259M | −$274M | 5.6% |
| Capex | $5M | $7M | $3M | $2M | $2M | 5.6% |
| Stock-based comp | $57M | $76M | $72M | $88M | $44M | 50% |
| Buybacks | — | — | $0 | $0 | $92M |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $7M | $3M | 14 | 125 |
| FY2024 | $13M | $3M | 23 | 93 |
| FY2023 | $8M | $6M | 48 | 94 |
| FY2022 | $10M | $7M | 40 | 90 |
| FY2021 | $13M | $9M | 97 | 100 |