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ARROWHEAD PHARMACEUTICALS, INC.

ARWR Clue Score51
United States Fiscal year ends September CIK 0000879407
$60.73 -3.22% Close, 12 Oct 2026
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Price $60.73 −4.01% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue31.4Operating income−37.0Net income−34.4EPS, diluted−0.47Fiscal year 2018Revenue16.1 −48.6%Operating income−55.9Net income−54.5EPS, diluted−0.65Fiscal year 2019Revenue168.8 +945.7%Operating income61.2Net income68.0EPS, diluted0.69Fiscal year 2020Revenue88.0 −47.9%Operating income−93.2Net income−84.6 −224.4%EPS, diluted−0.84 −221.7%Fiscal year 2021Revenue138.3 +57.2%Operating income−149.0Net income−140.8EPS, diluted−1.36Fiscal year 2022Revenue243.2 +75.9%Operating income−178.5Net income−176.1EPS, diluted−1.67Fiscal year 2023Revenue240.7 −1.0%Operating income−205.0Net income−205.3EPS, diluted−1.92Fiscal year 2024Revenue3.6 −98.5%Operating income−601.1Net income−599.5EPS, diluted−5.00Fiscal year 2025Revenue829.4 +23,258.2%Operating income98.3Net income−1.6EPS, diluted−0.01
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 31.4 16.1 168.8 88.0 138.3 243.2 240.7 3.6 829.4
Growth −48.6% +945.7% −47.9% +57.2% +75.9% −1.0% −98.5% +23,258.2%
Operating income −37.0 −55.9 61.2 −93.2 −149.0 −178.5 −205.0 −601.1 98.3
Net income −34.4 −54.5 68.0 −84.6 −140.8 −176.1 −205.3 −599.5 −1.6
Growth −224.4%
EPS, diluted −0.47 −0.65 0.69 −0.84 −1.36 −1.67 −1.92 −5.00 −0.01
Growth −221.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin−117.8%Net margin−109.5%Free cash flow margin−101.4%Fiscal year 2018Operating margin−346.5%Net margin−337.3%Free cash flow margin−301.3%Fiscal year 2019Operating margin36.3%Net margin40.3%Free cash flow margin95.4%Fiscal year 2020Operating margin−105.9%Net margin−96.1%Free cash flow margin−122.5%Fiscal year 2021Operating margin−107.8%Net margin−101.9%Free cash flow margin106.8%Fiscal year 2022Operating margin−73.4%Net margin−72.4%Free cash flow margin−77.7%Fiscal year 2023Operating margin−85.2%Net margin−85.3%Free cash flow margin−137.3%Fiscal year 2024Operating margin−16,927.1%Net margin−16,882.4%Free cash flow margin−17,018.3%Fiscal year 2025Operating margin11.9%Net margin−0.2%Free cash flow margin18.9%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −117.8% −346.5% 36.3% −105.9% −107.8% −73.4% −85.2% −16,927.1% 11.9%
Net margin −109.5% −337.3% 40.3% −96.1% −101.9% −72.4% −85.3% −16,882.4% −0.2%
Free cash flow margin −101.4% −301.3% 95.4% −122.5% 106.8% −77.7% −137.3% −17,018.3% 18.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−23.9Capital expenditure−7.9Free cash flow−31.9Fiscal year 2018Operating cash flow−47.2Capital expenditure−1.4Free cash flow−48.6Fiscal year 2019Operating cash flow173.0Capital expenditure−12.0Free cash flow161.0Fiscal year 2020Operating cash flow−95.8Capital expenditure−12.0Free cash flow−107.8 −166.9%Fiscal year 2021Operating cash flow171.3Capital expenditure−23.6Free cash flow147.7Fiscal year 2022Operating cash flow−136.1Capital expenditure−52.8Free cash flow−188.9 −227.9%Fiscal year 2023Operating cash flow−153.9Capital expenditure−176.7Free cash flow−330.6Fiscal year 2024Operating cash flow−462.9Capital expenditure−141.5Free cash flow−604.3Fiscal year 2025Operating cash flow179.6Capital expenditure−22.7Free cash flow156.9
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −23.9 −47.2 173.0 −95.8 171.3 −136.1 −153.9 −462.9 179.6
Capital expenditure −7.9 −1.4 −12.0 −12.0 −23.6 −52.8 −176.7 −141.5 −22.7
Free cash flow −31.9 −48.6 161.0 −107.8 147.7 −188.9 −330.6 −604.3 156.9
Growth −166.9% −227.9%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2017Cash24.8Shareholders’ equity81.4Fiscal year 2018Cash30.1Shareholders’ equity95.8Fiscal year 2019Cash221.8Shareholders’ equity244.6Fiscal year 2020Cash143.6Shareholders’ equity461.8Fiscal year 2021Cash184.4Shareholders’ equity408.8Fiscal year 2022Cash108.0Shareholders’ equity398.5Fiscal year 2023Cash110.9Shareholders’ equity271.3Fiscal year 2024Cash102.7Shareholders’ equity185.4Fiscal year 2025Cash226.5Shareholders’ equity466.1
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 24.8 30.1 221.8 143.6 184.4 108.0 110.9 102.7 226.5
Shareholders’ equity 81.4 95.8 244.6 461.8 408.8 398.5 271.3 185.4 466.1

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Sep 2017 FY2018 30 Sep 2018 FY2019 30 Sep 2019 FY2020 30 Sep 2020 FY2021 30 Sep 2021 FY2022 30 Sep 2022 FY2023 30 Sep 2023 FY2024 30 Sep 2024 FY2025 30 Sep 2025
Assets
24.8 30.1 221.8 143.6 184.4 108.0 110.9 102.7 226.5
0.1 0.3 0.7 0.8 10.3 1.4 0.0 0.0 6.8
15.5 13.9 23.2 30.9 48.7 110.3 290.3 386.0 382.5
104.0 111.6 349.8 522.5 710.1 691.9 765.6 1,139.8 1,385.3
Growth +7.3% +213.5% +49.4% +35.9% −2.6% +10.6% +48.9% +21.5%
Equity
−432.8 −487.3 −419.3 −503.8 −644.7 −820.8 −1,026.0 −1,625.5 −1,627.2
81.4 95.8 244.6 461.8 408.8 398.5 271.3 185.4 466.1
Growth +17.7% +155.3% +88.8% −11.5% −2.5% −31.9% −31.7% +151.3%
Per share and net cash
74.8 88.5 95.5 102.4 104.3 106.0 107.3 124.4 135.7
calc 1.09 1.08 2.56 4.51 3.92 3.76 2.53 1.49 3.43

Lines marked calc are worked out here from filed figures; point at one for how.