Arcutis Biotherapeutics, Inc.

Health Care
Biotechnology: Pharmaceutical Preparations
www.arcutis.com

Moat Score
Safety Score

Market Cap $1.47B
PE -8
Debt $304.12M
Cash $135.47M
EV $1.64B
FCF -$167.80M

Earnings

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Sales & Net Margins

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Earnings	-$195.54M
EBIT	-$179.26M
ROE	-125%
ROA	-41%
FCF	-$167.80M
Equity	$156.64M
Growth Stability	1
PE	-7.53
PB	9.4
P/FCF	-8.78
P/S	10.62
Price/Cash	0.09
Debt/Equity	1.94
Debt/FCF	-1.81
Net Margins	-103%
Gross Margins	90%
Op. Margins	-129%
Sales Growth YoY	17%
Sales Growth QoQ	45%
Sales CAGR	19%
Equity CAGR	-19%
Earnings Growth YoY	-7%

Earnings Growth QoQ	-21%
Sales CAGR 5Y	57%
Equity CAGR 5Y	-20%
Earnings CAGR 3Y	1K%
Sales CAGR 3Y	1K%
Equity CAGR 3Y	-24%
Market Cap	$1.47B
Revenue	$138.71M
Assets	$437.35M
Total Debt	$304.12M
Cash	$135.47M
Shares Outstanding	117M
EV	1.64B
Moat Score	1%
Safety Score	60%
Working Capital	251.29M
Current Ratio	2.46
Gross Profit	$124.24M
Shares Growth 3y	20%
Equity Growth QoQ	-16%
Equity Growth YoY	235%

Assets & ROA

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Stockholders Equity & ROE

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Arcutis Biotherapeutics Inc is a medical dermatology company. It is developing treatments for patients with immune-mediated dermatological diseases and conditions. It is leveraging recent advances in immunology and inflammation to develop differentiated therapies against biologically validated targets to solve persistent treatment challenges in serious diseases of the skin. The company's lead product candidate, roflumilast cream, has successfully completed pivotal Phase 3 clinical trials in plaque psoriasis, demonstrating symptomatic improvement and favorable tolerability in this population.

SEC Filings

Direct access to Arcutis Biotherapeutics, Inc. (ARQT) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Arcutis Biotherapeutics, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Arcutis Biotherapeutics, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Arcutis Biotherapeutics, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Arcutis Biotherapeutics, Inc..

Years

Calculation mode

= -$1.7B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$168M	-$168M	-$168M	-$168M	-$168M	-$168M	-$168M	-$168M	-$168M	-$168M	-$168M	-$1.7B
DCF		-$153M	-$139M	-$126M	-$115M	-$104M	-$95M	-$86M	-$78M	-$71M	-$65M	-$647M
Value	-$1.7B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-	-	-	-	-8K%	-440%	-103%
ROA	-	-40%	-46%	-51%	-66%	-67%	-41%
ROE	-	65%	-50%	-69%	-149%	-296%	-125%

Bad Net Margins (-103.25%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-0	-0.46	-0.78	-0.82	-1.81
Debt over Equity	-	-	0	0.27	0.95	2.28	1.94
Growth Stability	-	-	-	-	-	-	1

Good Debt/FCF ratio (-1.81)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Bad Debt/Equity ratio (1.94)

The company is overleveraged and has a bad balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-	-	-	-	2K%	57%
Earnings YoY growth	-	118%	223%	52%	51%	-16%	-
Equity YoY growth	-	171%	-516%	10%	-30%	-58%	-20%
FCF YoY growth	-	206%	163%	55%	47%	-4%	-