For the twelve months ended Jun 30, 2026, Arrowhead Pharmaceuticals Inc. reported $669.50M of revenue and -$327.36M of net income.
ARWR revenue was $75.25M in fiscal Q3 2026 (ended Jun 30, 2026), up 171.0% from a year earlier and up 2.1% from the prior quarter. For the full fiscal 2025 it was $829.45M, up about 234-fold from fiscal 2024. Compound annual growth was +56.6% over 5 years and +115.6% over 10 years. It rose in 5 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
ARWR net income was -$194.28M in fiscal Q3 2026 (ended Jun 30, 2026), compared with -$175.24M a year earlier. For the full fiscal 2025 it was -$1.63M, compared with -$599.49M in fiscal 2024.
ARWR diluted EPS was -$1.36 in fiscal Q3 2026 (ended Jun 30, 2026), compared with -$1.26 a year earlier. For the full fiscal 2025 it was -$0.01, compared with -$5.00 in fiscal 2024.
ARWR free cash flow was -$181.32M in fiscal Q3 2026 (ended Jun 30, 2026), compared with -$157.08M a year earlier. For the full fiscal 2025 it was $156.89M, compared with -$604.32M in fiscal 2024.
| Line item | Sep 30, 2025 | Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $829.45M | $3.55M | $240.74M | $243.23M | $138.29M | $87.99M | $168.80M | $16.14M | $31.41M | $158.3K |
| Research and development | $607.16M | $505.87M | $353.19M | $297.31M | $206.34M | $128.88M | $81.05M | $52.97M | $50.90M | $62.12M |
| Selling, general and admin | $123.94M | $98.76M | $92.55M | $124.43M | $80.98M | $52.28M | $26.56M | $19.11M | $17.50M | $23.59M |
| Operating income | $98.35M | -$601.08M | -$205.00M | -$178.51M | -$149.04M | -$93.16M | $61.19M | -$55.94M | -$37.00M | -$81.74M |
| Interest expense | $89.36M | $32.35M | $18.33M | $0 | $0 | - | - | - | - | - |
| Pre-tax income | $51.53M | -$612.46M | -$206.49M | -$172.71M | -$140.85M | -$84.55M | $68.15M | -$54.45M | -$34.38M | -$81.72M |
| Income tax | $21.42M | -$2.77M | $2.78M | $3.79M | $2.0K | $2.0K | $174.0K | $2.4K | $2.4K | $2.4K |
| Net income | -$1.63M | -$599.49M | -$205.28M | -$176.06M | -$140.85M | -$84.55M | $67.97M | -$54.45M | -$34.38M | -$81.72M |
| EPS, basic | -$0.01 | -$5.00 | -$1.92 | -$1.67 | -$1.36 | -$0.84 | $0.72 | -$0.65 | -$0.47 | -$1.34 |
| EPS, diluted | -$0.01 | -$5.00 | -$1.92 | -$1.67 | -$1.36 | -$0.84 | $0.69 | -$0.65 | -$0.47 | -$1.34 |
| Diluted shares | 133.8M | 119.8M | 106.8M | 105.4M | 103.7M | 100.7M | 98.6M | 83.6M | 73.9M | 61.1M |
| Line item | Sep 30, 2025 | Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $226.55M | $102.69M | $110.89M | $108.00M | $184.43M | $143.58M | $221.80M | $30.13M | $24.84M | $85.37M |
| Short-term investments | $692.82M | - | - | $0 | $126.73M | $85.02M | - | - | - | - |
| Receivables | $6.82M | $0 | $0 | $1.41M | $10.26M | $846.0K | $661.4K | $327.4K | $67.8K | $75.0K |
| Current assets | $950.64M | $695.47M | $416.47M | $405.30M | $384.60M | $322.37M | $265.25M | $78.77M | $67.90M | $90.50M |
| Total assets | $1.39B | $1.14B | $765.55M | $691.94M | $710.15M | $522.50M | $349.85M | $111.61M | $104.02M | $128.18M |
| Current liabilities | $195.49M | $103.17M | $105.46M | $138.85M | $146.54M | $40.68M | $97.07M | $12.36M | $18.70M | $25.64M |
| Total liabilities | $881.88M | $948.74M | $478.39M | $273.60M | $301.33M | $60.73M | $105.81M | $16.37M | $23.16M | $33.15M |
| Shareholders' equity | $466.05M | $191.06M | $287.16M | $418.34M | $408.82M | $461.78M | $244.04M | $95.24M | $80.87M | $95.02M |
| Line item | Sep 30, 2025 | Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $179.55M | -$462.85M | -$153.89M | -$136.13M | $171.31M | -$95.80M | $173.03M | -$47.22M | -$23.94M | -$64.43M |
| Capital expenditures | $22.67M | $141.47M | $176.74M | $52.78M | $23.57M | $11.95M | $12.00M | $1.42M | $7.92M | $3.86M |
| Free cash flow | $156.89M | -$604.32M | -$330.63M | -$188.91M | $147.75M | -$107.75M | $161.03M | -$48.64M | -$31.86M | -$68.29M |
| Investing cash flow | -$129.29M | -$420.07M | -$96.16M | -$5.42M | -$141.68M | -$240.78M | -$47.75M | -$7.43M | -$48.64M | $13.45M |
| Financing cash flow | $74.01M | $870.52M | $253.05M | $65.19M | $11.30M | $257.95M | $66.38M | $59.95M | $12.06M | $55.13M |
| Stock-based compensation | $63.37M | $73.97M | $78.13M | $120.89M | $76.67M | $43.38M | $12.39M | $8.45M | $7.89M | $11.60M |
| Depreciation and amortization | $22.20M | $16.90M | $10.70M | $8.70M | $6.60M | $4.20M | $2.70M | $3.00M | $2.99M | $3.26M |
| Line item | Sep 30, 2025 | Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 23258.2% | -98.5% | -1.0% | 75.9% | 57.2% | -47.9% | 945.7% | -48.6% | 19736.5% | -58.6% |
| Operating margin | 11.9% | -16927.1% | -85.2% | -73.4% | -107.8% | -105.9% | 36.3% | -346.5% | -117.8% | -51627.1% |
| Net margin | -0.2% | -16882.4% | -85.3% | -72.4% | -101.9% | -96.1% | 40.3% | -337.3% | -109.5% | -51614.6% |
| Free cash flow margin | 18.9% | -17018.3% | -137.3% | -77.7% | 106.8% | -122.5% | 95.4% | -301.3% | -101.4% | -43129.2% |
| Return on equity | -0.3% | -313.8% | -71.5% | -42.1% | -34.5% | -18.3% | 27.9% | -57.2% | -42.5% | -86.0% |
| Return on assets | -0.1% | -52.6% | -26.8% | -25.4% | -19.8% | -16.2% | 19.4% | -48.8% | -33.1% | -63.8% |
| Current ratio | 4.86 | 6.74 | 3.95 | 2.92 | 2.62 | 7.92 | 2.73 | 6.37 | 3.63 | 3.53 |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75.25M | $73.74M | $264.03M | $256.47M | $27.77M | $542.71M | $2.50M | $0 | $0 | $0 | $3.55M | $16.10M |
| Research and development | $198.22M | $173.25M | $177.20M | $174.69M | $162.37M | $133.10M | $137.00M | $135.83M | $152.43M | $101.12M | $116.49M | $99.86M |
| Selling, general and admin | $47.12M | $41.74M | $46.02M | $37.68M | $30.95M | $28.41M | $26.91M | $26.38M | $23.71M | $25.07M | $23.61M | $24.57M |
| Operating income | -$170.09M | -$141.26M | $40.81M | $44.11M | -$165.55M | $381.20M | -$161.41M | -$162.20M | -$176.14M | -$126.19M | -$136.54M | -$108.33M |
| Interest expense | $24.56M | $23.85M | $22.50M | $21.69M | $24.38M | $21.64M | $21.65M | $14.65M | $5.09M | $7.24M | $5.37M | $5.26M |
| Pre-tax income | -$178.91M | -$137.56M | $28.27M | $36.12M | -$179.09M | $369.62M | -$175.12M | -$172.80M | -$173.98M | -$127.00M | -$138.69M | -$108.99M |
| Income tax | $11.0K | $7.0K | $29.0K | $20.00M | -$437.0K | $1.75M | $103.0K | $546.0K | $0 | $0 | -$3.31M | $2.02M |
| Net income | -$194.28M | -$137.57M | $28.24M | -$23.75M | -$175.24M | $367.86M | -$175.22M | -$170.54M | -$170.79M | -$127.00M | -$135.38M | -$109.68M |
| EPS, basic | -$1.36 | -$0.93 | $0.22 | -$0.14 | -$1.26 | $2.78 | -$1.39 | -$1.36 | -$1.38 | -$1.02 | -$1.24 | -$1.03 |
| EPS, diluted | -$1.36 | -$0.93 | $0.22 | -$0.11 | -$1.26 | $2.75 | -$1.39 | -$1.36 | -$1.38 | -$1.02 | -$1.24 | -$1.02 |
| Diluted shares | 143.4M | 142.4M | 140.7M | - | 139.0M | 134.5M | 124.8M | - | 124.2M | 123.3M | 107.4M | - |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $54.76M | $188.52M | $201.64M | $226.55M | $129.79M | $185.71M | $53.89M | $102.69M | $69.40M | $127.70M | $58.22M | $110.89M |
| Short-term investments | - | $1.60B | $714.97M | $692.82M | - | - | - | - | - | - | - | - |
| Receivables | $8.56M | $15.69M | $218.87M | $6.82M | $0 | $2.37M | $2.50M | $0 | - | - | - | $0 |
| Current assets | $1.67B | $1.84B | $1.17B | $950.64M | $946.92M | $1.14B | $570.54M | $695.47M | $450.06M | $541.65M | $237.90M | $416.47M |
| Total assets | $2.11B | $2.27B | $1.60B | $1.39B | $1.38B | $1.57B | $1.01B | $1.14B | $883.76M | $955.15M | $626.29M | $765.55M |
| Current liabilities | $283.35M | $295.22M | $347.43M | $195.49M | $194.53M | $220.54M | $93.76M | $103.17M | $96.71M | $65.17M | $63.72M | $105.46M |
| Total liabilities | $1.65B | $1.67B | $1.04B | $881.88M | $860.81M | $889.27M | $957.62M | $948.74M | $544.78M | $459.75M | $452.57M | $478.39M |
| Shareholders' equity | $465.53M | $598.92M | $562.70M | $466.05M | $519.81M | $684.23M | $56.08M | $191.06M | $338.97M | $495.40M | $173.71M | $287.16M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$177.47M | $84.44M | $13.48M | $20.49M | -$154.72M | $460.05M | -$146.27M | -$137.22M | -$115.42M | -$92.38M | -$117.84M | -$25.93M |
| Capital expenditures | $3.85M | $2.56M | $2.15M | $7.49M | $2.36M | $5.30M | $7.52M | $24.29M | $14.45M | $34.08M | $68.66M | $63.91M |
| Free cash flow | -$181.32M | $81.88M | $11.33M | $13.00M | -$157.08M | $454.76M | -$153.79M | -$161.50M | -$129.87M | -$126.45M | -$186.50M | -$89.83M |
| Investing cash flow | $43.68M | -$894.28M | -$23.74M | $72.62M | $141.39M | -$420.21M | $76.91M | -$222.92M | $6.95M | -$268.94M | $64.84M | $30.51M |
| Financing cash flow | -$449.0K | $795.72M | -$14.75M | $3.67M | -$42.68M | $92.38M | $20.63M | $389.09M | $50.39M | $430.78M | $267.0K | $821.0K |
| Stock-based compensation | $14.87M | $16.67M | $19.37M | $19.09M | $13.04M | $16.03M | $15.21M | $19.47M | $17.05M | $17.75M | $19.69M | $18.18M |
| Depreciation and amortization | $6.20M | $5.90M | $6.00M | $6.00M | $5.80M | $5.60M | $4.80M | $4.60M | $4.40M | $4.10M | $3.80M | $3.30M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 171.0% | -86.4% | 10461.3% | - | - | - | -29.6% | -100.0% | -100.0% | -100.0% | -94.3% | -49.0% |
| Operating margin | -226.0% | -191.6% | 15.5% | 17.2% | -596.2% | 70.2% | -6456.5% | - | - | - | -3845.3% | -673.0% |
| Net margin | -258.2% | -186.6% | 10.7% | -9.3% | -631.1% | 67.8% | -7008.7% | - | - | - | -3812.3% | -681.4% |
| Free cash flow margin | -241.0% | 111.0% | 4.3% | 5.1% | -565.7% | 83.8% | -6151.5% | - | - | - | -5251.9% | -558.1% |
| Current ratio | 5.90 | 6.23 | 3.38 | 4.86 | 4.87 | 5.15 | 6.09 | 6.74 | 4.65 | 8.31 | 3.73 | 3.95 |
Source: XBRL data Arrowhead Pharmaceuticals Inc. files with the SEC, latest filing dated Aug 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| ARWR | $669.50M | +16.8% | -$327.36M | -48.9% | $6.96B |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.33T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $679.13B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $518.44B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $366.73B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $312.35B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $293.69B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $191.40B |
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $183.23B |