RVMDRevolution Medicines, Inc.
Biological Products, (no Diagnostic Substances)
- Revenue
- $0
- Operating margin
- —
- EBITDA
- −$1.2B
- 72% YoY
- Market cap
- $41.0B
- Employees
- 883
- Net debt / EBITDA
- —
- AI in 10-K
- 2.9
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$10M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentYes79% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo2.9 per 10K words · 69th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$41.0B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$154M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $29M | $35M | $12M | $0 | $0 | |
| Operating income | −$188M | −$258M | −$487M | −$690M | −$1.2B | 71% |
| Net income | −$187M | −$249M | −$436M | −$600M | −$1.1B | 89% |
| Operating cash flow | −$147M | −$224M | −$351M | −$557M | −$898M | 61% |
| Capex | $7M | $11M | $8M | $10M | $16M | 55% |
| Stock-based comp | $21M | $31M | $62M | $79M | $118M | 49% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Sep 29, 2023 | DEFM14A | — | — | — |
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $154M · 159
- Net
- −$154M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $15M | $37M | 201 | 125 |
| FY2024 | $10M | $20M | 110 | 117 |
| FY2023 | $10M | $14M | 72 | 114 |
| FY2022 | $7M | $9M | 60 | 110 |
| FY2021 | $8M | −$3M | 64 | 125 |