TakeoverPE & activists

RVMDRevolution Medicines, Inc.

Biological Products, (no Diagnostic Substances) · $41.0B market cap · 883 employees

0.1×

Less likely than average to be taken private

Top 55% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

3of 15 firedHow well they predict deals →
12 other checks
  • High CEO pay despite TSRNo
    $10M median
    Median 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 flowNo
    0% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    0% of assets
    Over 40% of assets
  • Low revenue per employeeNo
    —
    Bottom quartile of its SIC industry
  • Quiet on AINo
    2.9 per 10K words · 69th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    —
    More cash than debt, positive EBITDA
  • Buyout-sizedNo
    $41.0B market cap
    Market cap $500M–$5B
  • Recurring revenueNo
    0 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    0 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Active 13DNo
    0 filings
    Active-intent 13D in 18 months

Deal filings

FiledFormAcquirerPricePremium
Sep 29, 2023DEFM14ARevolution Medicines, Inc.$32.1194%

Key numbers

Revenue
$0FY2021: $29MFY2022: $35MFY2023: $12MFY2024: $0FY2025: $0
Operating margin
—FY2021: -639.7%FY2022: -730.0%FY2023: -4207.1%
EBITDA
−$1.2BFY2021: −$185MFY2022: −$254MFY2023: −$482MFY2024: −$683MFY2025: −$1.2B
72% YoY
Net debt / EBITDA
—

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$29M$35M$12M$0$0FY2021: $29MFY2022: $35MFY2023: $12MFY2024: $0FY2025: $0
Operating income−$188M−$258M−$487M−$690M−$1.2B 71% FY2021: −$188MFY2022: −$258MFY2023: −$487MFY2024: −$690MFY2025: −$1.2B
Net income−$187M−$249M−$436M−$600M−$1.1B 89% FY2021: −$187MFY2022: −$249MFY2023: −$436MFY2024: −$600MFY2025: −$1.1B
Operating cash flow−$147M−$224M−$351M−$557M−$898M 61% FY2021: −$147MFY2022: −$224MFY2023: −$351MFY2024: −$557MFY2025: −$898M
Capex$7M$11M$8M$10M$16M 55% FY2021: $7MFY2022: $11MFY2023: $8MFY2024: $10MFY2025: $16M
Stock-based comp$21M$31M$62M$79M$118M 49% FY2021: $21MFY2022: $31MFY2023: $62MFY2024: $79MFY2025: $118M

13D filers

None on file.

Insider trading

−$154Mnet selling by insiders, open market, last 12 months
Bought $0 · 0 tradesSold $154M · 159 trades

Pay vs performance

YearCEO total compComp actually paidTSR (indexed)Peer TSR
FY2025$15M$37M201125
FY2024$10M$20M110117
FY2023$10M$14M72114
FY2022$7M$9M60110
FY2021$8M−$3M64125