Revolution Medicines, Inc. (RVMD) financials
NASDAQ · Healthcare · Biotechnology · 883 employees · CEO Mark A. Goldsmith
- Price
- $191.31 +0.55%
- Market cap
- $41B
- Enterprise value
- $40.8B
- Last report
- Q2 '26 filed 2026-08-05
- Next report
- 2026-11-04 EPS est. -$2.35
Revenue (TTM)$0– vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)–– vs a year agoOperating income -$1.63B
Net income (TTM)-$1.77B-117.8% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-$1.23B-75.9% vs a year agoCapex $9.1M
Diluted EPS (TTM)-$8.86-96.5% vs a year agoSum of the last 4 quarters
Net cash$3.3B+64.4% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $41B EV $40.8B
- Revenue
- $0 Trailing 12 months
- Revenue growth
- – FY2026 consensus
- Profit margin
- – Net income / revenue, TTM
- P/E
- -21.6× Forward -20.2× (FY2026)
- P/S
- 0.0× Price / sales, TTM
- EV / EBITDA
- -24.1× TTM
- Free cash flow
- -$1.23B Trailing 12 months
- Net income
- -$1.77B Trailing 12 months
- Revenue estimate
- $208M FY2026 consensus
- Earnings
- 2026-11-04 Revenue est. $25.6M
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-05): revenue n/a, EPS missed by 50.0%Revenue – vs $1.77M expected (–); EPS -$3.06 vs -$2.04 (-50.0%).
- Diluted share count up 12.1% in a year211M diluted shares in Q2 '26, 188M a year earlier.
- Net cash $3.3BCash + short-term investments $3.94B, debt incl. leases $642M; a year ago net cash $2B.
Last quarter: Q2 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $0 | $0 | – |
| Operating income | -$505M | -$265M | -90.8% |
| Net income | -$644M | -$248M | -160.1% |
| Diluted EPS | -$3.06 | -$1.31 | -133.6% |
| Operating cash flow | -$387M | -$222M | -74.7% |
| Capex | $2.29M | $7.45M | -69.3% |
| Free cash flow | -$390M | -$229M | -70.0% |
| R&D | $395M | $224M | +76.2% |
| Stock-based compensation | $0 | $28.8M | -100.0% |
Reported vs consensus
2026-08-05| Actual | Consensus | vs consensus | |
|---|---|---|---|
| EPS (as estimated) | -$3.06 | -$2.04 | -50.0% |
From the report of 2026-08-05 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q1 '23 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Collaboration Revenue Member | $7.01M | – | 100.0% | $34.8M | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- -$1.22B
- Capex
- -$9.1M
- Buybacks
- $0
- Dividends
- $0
- Acquisitions
- $0
- Net debt issued
- $976M
- Stock-based compensation
- $152M
- Free cash flow
- -$1.23B
- Returned to shareholders / FCF
- 0.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | -21.6× | – | – |
| EV / EBITDA | -24.1× | – | – |
| EV / Sales | 0.0× | 113.4× 3 of 5 years | 51.5× – 227.7× |
| Price / FCF | -33.3× | – | – |
| Price / Book | 15.5× | 4.0× | 1.8× – 9.3× |
| FCF yield | -3.0% | -9.1% | -12.2% – -6.0% |
| Return on invested capital | -40.8% | -34.4% | -56.8% – -25.1% |
| Return on equity | -96.4% | -37.4% | -69.3% – -23.9% |
Analysts
Consensus target $253.47 (+32.5%)
range $179.00 – $320.00 · rating Buy
Strong buy1
Buy22
Hold2
Sell0
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $208M | – | -$9.49 | -59.5% | -20.2× | 19 |
| FY2027 | $1.23B | +492.6% | -$5.79 | +39.0% | -33.0× | 19 |
| FY2028 | $2.61B | +111.9% | -$2.41 | +58.5% | -79.5× | 18 |
| FY2029 | $5B | +91.5% | $5.82 | +342.0% | 32.9× | 9 |
| FY2030 | $8.16B | +63.2% | $15.21 | +161.2% | 12.6× | 8 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 205 figures Revolution Medicines, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $88.4M | $56.8M | +55.8% | $64.6M | $54.4M | +18.7% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $4.33M | $7.74M | -44.0% | $27.8M | $44.6M | -37.5% |
| Accrued Employee Benefits, Current | $64.7M | $21.7M | +197.7% | $58.2M | $30.8M | +89.1% |
| Accrued Liabilities, Current | $5M2026-03-31 | – | – | $5M | – | – |
| Accrued Professional Fees, Current | $8.94M | $2.91M | +206.9% | $6.14M | $1.62M | +278.1% |
| Accrued Royalties | $549M | $245M | +123.8% | $268M | $0 | – |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $32.8M | $25M | +31.2% | $28.5M | $21.8M | +30.7% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$5.95M | $1.3M | -557.0% | $3.24M | $1.32M | +145.0% |
| Additional Paid in Capital, Common Stock | $6.58B | $4.06B | +61.9% | $4.5B | $4B | +12.4% |
| Adjustments to Additional Paid in Capital, Warrant Issued | – | – | – | $95.4M2024-12-31 | – | – |
| Amortization of Debt Issuance Costs | $419K | – | – | $541K | – | – |
| Amortization of Intangible Assets | $0 | $300K | -100.0% | $870K | $1.07M | -18.6% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1.16M | 704K | +65.0% | 24.5M | 19.4M | +26.2% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $67M | $28.8M | +132.4% | $118M | $79.2M | +49.5% |
| Asset Impairment Charges | $02025-09-30 | $0 | – | – | – | – |
| Assets | $4.32B | $2.43B | +77.9% | $2.35B | $2.56B | -8.0% |
| Assets, Current | $4.03B | $2.18B | +85.1% | $2.08B | $2.33B | -10.9% |
| Business Combination, Consideration Transferred | – | – | – | $1.1B | $1.1B | 0.0% |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $861M2025-12-31 | $861M | 0.0% | $861M | $861M | 0.0% |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability | $490K2025-12-31 | $490K | 0.0% | $490K | $490K | 0.0% |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | $314M2025-12-31 | $314M | 0.0% | $314M | $314M | 0.0% |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | $12.1M2025-12-31 | $12.1M | 0.0% | $12.1M | $12.1M | 0.0% |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | $6.89M2025-12-31 | $6.89M | 0.0% | $6.89M | $6.89M | 0.0% |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $1.15B2025-12-31 | $1.15B | 0.0% | $1.15B | $1.15B | 0.0% |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | $2.91M2025-12-31 | $2.91M | 0.0% | $2.91M | $2.91M | 0.0% |
| Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | $55.9M2025-12-31 | $55.9M | 0.0% | $55.9M | $55.9M | 0.0% |
| Capital Expenditures Incurred but Not yet Paid | $3M | $122K | +2,354.9% | $1.88M | $1.58M | +19.0% |
| Cash and Cash Equivalents, at Carrying Value | $815M | $402M | +102.6% | $384M | $543M | -29.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $820M | $406M | +101.9% | $389M | $547M | -28.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $820M | $406M | +101.9% | $389M | $547M | -28.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $374M | $69.1M | +441.9% | -$158M | -$152M | -3.8% |
| Common Stock, Capital Shares Reserved for Future Issuance | 37.7M | 32.9M | +14.6% | 28.6M | 31.7M | -9.7% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 300M | 300M | 0.0% | 300M | 300M | 0.0% |
| Common Stock, Shares, Issued | 214M | 187M | +14.6% | 197M | 186M | +6.0% |
| Common Stock, Shares, Outstanding | 214M | 187M | +14.6% | 197M | 186M | +6.0% |
| Common Stock, Value, Issued | $21K | $18K | +16.7% | $19K | $18K | +5.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$650M | -$248M | -161.8% | -$1.13B | -$599M | -88.4% |
| Convertible Notes Payable, Noncurrent | $487M | – | – | – | – | – |
| Current Federal Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Current Foreign Tax Expense (Benefit) | – | – | – | $0 | -$42K | +100.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $0 | -$15K | +100.0% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $0 | $27K | -100.0% |
| Debt Securities, Available-for-sale | $3.88B | $2.14B | +81.8% | $2.02B | $2.29B | -11.5% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $151K | $1.59M | -90.5% | $3.28M | $1.87M | +75.8% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $6M | $292K | +1,954.8% | $44K | $545K | -91.9% |
| Debt Securities, Available-for-sale, Amortized Cost | $3.89B | $2.14B | +82.1% | $2.02B | $2.29B | -11.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $0 | -$17K | +100.0% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $0 | -$738K | +100.0% |
| Deferred Income Tax Liabilities, Net | $2.35M | $2.35M | 0.0% | $2.35M | $2.35M | 0.0% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $0 | -$721K | +100.0% |
| Deferred Tax Assets, Gross | $982M2025-12-31 | $609M | +61.3% | $982M | $609M | +61.3% |
| Deferred Tax Assets, Net of Valuation Allowance | $53.9M2025-12-31 | $45.1M | +19.5% | $53.9M | $45.1M | +19.5% |
| Deferred Tax Assets, Operating Loss Carryforwards | $436M2025-12-31 | $227M | +92.3% | $436M | $227M | +92.3% |
| Deferred Tax Assets, Other | $1.1M2025-12-31 | $1.14M | -3.7% | $1.1M | $1.14M | -3.7% |
| Deferred Tax Assets, Tax Credit Carryforwards, Research | $132M2025-12-31 | $66M | +100.2% | $132M | $66M | +100.2% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $33.5M2025-12-31 | $20.2M | +65.5% | $33.5M | $20.2M | +65.5% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $20.3M2025-12-31 | $9.95M | +103.9% | $20.3M | $9.95M | +103.9% |
| Deferred Tax Assets, Valuation Allowance | $929M2025-12-31 | $564M | +64.7% | $929M | $564M | +64.7% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02