A Business at a Glance
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Roivant Sciences Ltd.
ROIV
$25.1B
Mkt Cap
$35.01
-0.26%
Roivant Sciences Ltd. (ROIV) has a 5-year average return on invested capital (ROIC) of -4.2%. This is below average and may indicate limited pricing power.
Roivant Sciences Ltd. (ROIV) has a market capitalization of $25.1B. It is classified as a large-cap stock.
Roivant Sciences Ltd. (ROIV) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 2.01%.
Roivant Sciences Ltd. (ROIV) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Roivant Sciences Ltd. (ROIV) generated $-844 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Roivant Sciences Ltd. (ROIV) has a debt-to-equity ratio of 0.16. This indicates a conservatively financed balance sheet.
Roivant Sciences Ltd. (ROIV) reported earnings per share (EPS) of $-0.24 in its most recent fiscal year.
Roivant Sciences is a biopharmaceutical company developing a diversified pipeline of small molecule and biologic therapeutics across multiple therapeutic areas, including autoimmune, inflammatory, and pulmonary diseases. The company operates through a distinctive "Vant" model, creating nimble, entrepreneurial subsidiaries—such as Priovant, Immunovant, and Pulmovant—each focused on specific product candidates and managed by teams with deep relevant expertise and economic incentives tied to their programs' success. Roivant's pipeline includes brepocitinib (a TYK2 and JAK1 inhibitor in Phase 3 for dermatomyositis, non-infectious uveitis, and cutaneous sarcoidosis), IMVT-1402 and batoclimab (fully human monoclonal antibodies targeting FcRn in Phase 2/3 development across multiple IgG-mediated autoimmune indications including Graves' disease, rheumatoid arthritis, myasthenia gravis, and Sjögren's disease), and mosliciguat (an inhaled sGC activator in Phase 2 for pulmonary hypertension associated with interstitial lung disease). The company's business model centers on leveraging business development expertise to in-license promising drug candidates, applying rigorous capital allocation frameworks to maximize R&D efficiency, and maintaining a diversified pipeline with various risk profiles. Beyond therapeutics, Roivant incubates discovery-stage companies and health technology startups complementary to its biopharmaceutical business, supported by a strong balance sheet that enables funding through development.
【Multiple catalysts ahead】 Management expects a transformative period with numerous clinical data readouts and regulatory milestones across its pipeline. The company anticipates brepocitinib to launch in dermatomyositis by the end of September 2026 (pending FDA approval), with non-infectious uveitis Phase 3 top-line data expected in the second half of 2026 and a cutaneous sarcoidosis Phase 3 study beginning in 2026. IMVT-1402 is expected to deliver Phase 3 data in Graves' disease and myasthenia gravis in 2027, with a potential Graves' launch by the end of 2028, while the company is fully enrolled in the difficult-to-treat rheumatoid arthritis and cutaneous lupus erythematosus studies with data expected in the second half of 2026 and 2027 respectively. Mosliciguat Phase 2b data in pulmonary hypertension associated with interstitial lung disease is expected in the second half of 2026, with the company positioning the program as potentially first-line therapy in a polypharmacy combination treatment market. The company received a $2.25 billion settlement from Moderna with a $950 million upfront payment expected in July 2026, strengthening its financial position to fund ongoing development programs.
| Metric | Target | Period |
|---|---|---|
| Brepocitinib launch in dermatomyositis | By end of September 2026 | 2026 |
| Brepocitinib non-infectious uveitis Phase 3 top-line data | Second half of 2026 | 2026 |
| Brepocitinib cutaneous sarcoidosis Phase 3 initiation | 2026 | 2026 |
| Mosliciguat Phase 2b top-line data in PH-ILD | Second half of 2026 | 2026 |
| IMVT-1402 Graves' disease and myasthenia gravis Phase 3 data | 2027 | 2027 |
| IMVT-1402 Graves' disease launch | By end of 2028 | 2028 |
| Moderna settlement upfront payment | $950 million | July 2026 |
Brepocitinib launch in dermatomyositis (2026): “A ton of work ongoing in commercial prep for the launch in DM, which assuming FDA goes as we expect it to, will launch by the end of September.”
Brepocitinib non-infectious uveitis Phase 3 top-line data (2026): “We expect the NIU phase III top line data in the back half of this year.”
Brepocitinib cutaneous sarcoidosis Phase 3 initiation (2026): “The phase III study in cutaneous sarcoidosis we expect to begin this year as well.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2027 Earnings Call, Q1 FY2027 Earnings Call, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 13M | - | - | - | - | - |
| Net Income | -809M | -172M | 4.3B | -1.0B | -845M | -809M |
| EPS | $-1.17 | $-0.24 | $5.23 | $-1.42 | $-1.26 | $-0.43 |
| Free Cash Flow | -767M | -844M | 764M | -856M | -695M | -558M |
| ROIC | -18.4% | -3.1% | 125.6% | -59.4% | -44.1% | -39.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 0.16 | 0.07 | 0.36 | 0.13 | 0.09 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -1.2B | -1.0B | 4.5B | -907M | -1.4B | -1.1B |
| Operating Margin | -9130.5% | - | - | - | - | - |
| ROE | -19.0% | -3.2% | 122.1% | -71.7% | -48.9% | -41.7% |
| Shares Outstanding | 716M | 717M | 832M | 711M | 671M | 1,897M |
| Metric | ||||||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | N/A | N/A | N/A | N/A | N/A | 13M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 237M | 483M | 454M | 440M | 550M | 628M |
| SG&A | 260M | 775M | 601M | 687M | 591M | 599M |
| EBIT | -1.1B | -1.4B | -907M | 4.5B | -1.0B | -1.2B |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | -9130.5% |
| Net Income | -809M | -845M | -1.0B | 4.3B | -172M | -809M |
| Net Margin | N/A | N/A | N/A | N/A | N/A | -6079.9% |
| Non-Recurring | 0 | 444M | 0 | 5.3B | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | -39.9% | -44.1% | -59.4% | 125.6% | -3.1% | -18.4% |
| ROE | -41.7% | -48.9% | -71.7% | 122.1% | -3.2% | -19.0% |
| ROA | -31.2% | -32.7% | -40.6% | 90.5% | -2.7% | -15.5% |
| Cash Flow | ||||||
| Op. Cash Flow | -552M | -678M | -843M | 765M | -839M | -759M |
| Free Cash Flow | -558M | -695M | -856M | 764M | -844M | -767M |
| Owner Earnings | -637M | -1.2B | -1.1B | 544M | -1.1B | -1.1B |
| CapEx | 5.8M | 17M | 13M | 1.4M | 4.6M | 7.8M |
| Maint. CapEx | 0 | 5.9M | 19M | 22M | 14M | 4.1M |
| Growth CapEx | N/A | 12M | 0 | 0 | 0 | 3.6M |
| D&A | 0 | 5.9M | 19M | 22M | 14M | 4.1M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 2.2M | 0 | 0 | 1.3B | 504M |
| Buyback Yield | N/A | N/A | N/A | N/A | 17.4% | 2.0% |
| Stock-Based Comp | 85M | 565M | 218M | 200M | 289M | 352M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | -1.9B | -1.9B | -1.3B | -6.1B | N/A | -4.5B |
| Cash & Equiv. | 2.1B | 2.1B | 1.7B | 6.5B | 2.7B | 4.5B |
| Long-Term Debt | 170M | 210M | 376M | 431M | N/A | N/A |
| Debt/Equity | 0.09 | 0.13 | 0.36 | 0.07 | 0.16 | 0.00 |
| Interest Coverage | -381.2 | -192.0 | -32.4 | 129.3 | -168.3 | -168.3 |
| Equity | 1.8B | 1.7B | 1.2B | 6.0B | 4.7B | 4.3B |
| Total Assets | 2.6B | 2.6B | 2.4B | 7.2B | 5.4B | 5.2B |
| Total Liabilities | 528M | 524M | 782M | 774M | 749M | 251M |
| Intangibles | N/A | 0 | 145M | 138M | N/A | N/A |
| Retained Earnings | -1.9B | -2.8B | -3.8B | 576M | 116M | -695M |
| Working Capital | 2.0B | 2.0B | 1.5B | 6.5B | 4.9B | 4.5B |
| Current Assets | 2.2B | 2.1B | 1.8B | 6.7B | 5.0B | 4.7B |
| Current Liabilities | 219M | 184M | 272M | 267M | 149M | 152M |
| Per Share Data | ||||||
| EPS | -0.43 | -1.26 | -1.42 | 5.23 | -0.24 | -1.17 |
| Owner EPS | -0.34 | -1.86 | -1.52 | 0.65 | -1.59 | -1.56 |
| Book Value | 0.95 | 2.47 | 1.63 | 7.18 | 6.54 | 5.97 |
| Cash Flow/Share | -0.29 | -1.01 | -1.19 | 0.92 | -1.17 | -1.12 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 1.9B | 670.8M | 710.6M | 831.5M | 716.6M | 715.7M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | 2.0 | N/A | -29.9 |
| P/FCF | N/A | N/A | N/A | 11.5 | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 3.4 | 1.9 | 4.5 | 1.5 | 1.6 | 5.9 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | -9.0% | -21.7% | -16.4% | 8.7% | -11.3% | -3.1% |
| Market Cap | 6.2B | 3.2B | 5.2B | 8.8B | 7.4B | 25.1B |
| Avg. Price | 10.15 | 8.75 | 5.36 | 10.16 | 11.25 | 35.01 |
| Year-End Price | 9.79 | 4.78 | 7.35 | 10.54 | 10.38 | 35.01 |
Roivant Sciences Ltd. passes 1 of 9 quality checks, indicating weak fundamentals.
Total shareholder yield (buybacks) is 2.0%. At current prices, the estimated annualized return to fair value is -2.0%.
Roivant Sciences Ltd. (ROIV) has a return on equity (ROE) of -3.2%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 5 years of financial data for Roivant Sciences Ltd. (ROIV), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Roivant Sciences Ltd. (ROIV) has a book value per share of $6.54, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects a transformative period with numerous clinical data readouts and regulatory milestones across its pipeline. The company anticipates brepocitinib to launch in dermatomyositis by the end of September 2026 (pending FDA approval), with non-infectious uveitis Phase 3 top-line data expected in the second half of 2026 and a cutaneous sarcoidosis Phase 3 study beginning in 2026. IMVT-1402 is expected to deliver Phase 3 data in Graves' disease and myasthenia gravis in 2027, with a potential Graves' launch by the end of 2028, while the company is fully enrolled in the difficult-to-treat rheumatoid arthritis and cutaneous lupus erythematosus studies with data expected in the second half of 2026 and 2027 respectively. Mosliciguat Phase 2b data in pulmonary hypertension associated with interstitial lung disease is expected in the second half of 2026, with the company positioning the program as potentially first-line therapy in a polypharmacy combination treatment market. The company received a $2.25 billion settlement from Moderna with a $950 million upfront payment expected in July 2026, strengthening its financial position to fund ongoing development programs.
Based on recent SEC filings and earnings calls, Roivant Sciences Ltd. (ROIV) has provided the following forward guidance: Brepocitinib launch in dermatomyositis: By end of September 2026 (2026); Brepocitinib non-infectious uveitis Phase 3 top-line data: Second half of 2026 (2026); Brepocitinib cutaneous sarcoidosis Phase 3 initiation: 2026 (2026); Mosliciguat Phase 2b top-line data in PH-ILD: Second half of 2026 (2026); IMVT-1402 Graves' disease and myasthenia gravis Phase 3 data: 2027 (2027), plus 2 additional metrics.
Mosliciguat Phase 2b top-line data in PH-ILD (2026): “the mosliciguat PH-ILD phase II-B top line data is expected in the second half.”
IMVT-1402 Graves' disease and myasthenia gravis Phase 3 data (2027): “Next year is a huge year with IMVT-1402 data in Graves and MG coming in.”
IMVT-1402 Graves' disease launch (2028): “the expectation for Graves' launch by the end of 2028”
Moderna settlement upfront payment (July 2026): “we expect to receive the first portion of that payment, the $950 million upfront, in July.”
No recent press releases.