Arcutis Biotherapeutics

ARQT

Biotechnology · Healthcare

Price

$28.49

+0.75 (+2.70%)

Market Cap

$3.56B

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+157.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 49.4M (2021) → 127.2M (2025)

Arcutis Biotherapeutics, Inc., a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis. The company is also developing ARQ-154, a topical foam formulation of roflumilast for the treatment of seborrheic dermatitis and scalp psoriasis; ARQ-252, a selective topical janus kina

Winston Score History

Politician Trades

3 trades / 12mo

2 Congressional buys and 1 sell on ARQT in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+60.1% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+56.4% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$77M/ year

→ Flat (+1% vs prior year)

20.5% of revenue

In line with sector average (18%)

Steady R&D investment year-over-year

Insider Activity

10.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$35M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

Arcutis Biotherapeutics is growing revenue at 60% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

90.7%

Premium pricing power — 90.7% gross margin

Operating Margin

-8.6%

Losing money on operations — -8.6%

ROCE

-4.5%

Weak — -4.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+95.3%

Fast-growing sales (95.3% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

6.5%

Modest free cash flow (6.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.07

Conservative — low debt load (0.07)

Interest Cover

0.24x

Dangerous — barely covers interest (0.2x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

N/A

Data not available

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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