Revolution Medicines
RVMD on Nasdaq. Revolution Medicines develops cancer medicines and sells them to patients and doctors. Market value $44.5bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-2.88 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$199.87 a share, 336% above its 1-year low
Over the past year the price has ranged from $45.80 to $224.31.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $29m | $35m | $12m | $0 | $0 |
| Operating margin | |||||
| Operating margin | -639.7% | -730.0% | -4207.1% | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.09bn | 0.11bn | 0.17bn | 0.19bn | 0.21bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)1 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 141% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- A loss of $644 million, compared with a loss of $248 million a year ago.
- Over the past 12 months it spent $1.2 billion more cash than it brought in, compared with $700 million a year earlier.
- 12% more shares than a year ago. Each share owns a bit less of the company.
| Quarter to | Amount |
|---|---|
| September 2024 | -$156m |
| December 2024 | -$195m |
| March 2025 | -$213m |
| June 2025 | -$248m |
| September 2025 | -$305m |
| December 2025 | -$365m |
| March 2026 | -$454m |
| June 2026 | -$644m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
2 long-term investors we follow own it, unchanged from 2 last quarter. 690 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $23m | <0.1% | Cut |
| Platinum Investment ManagementPlatinum team | $3m | 0.8% | Cut |
Largest holders overall
- BlackRock$2.6bnAdded
- Farallon Capital Management, L.L.C.$2.5bn
- FMR$2.3bnAdded
- Baker Bros. Advisors LP$2.1bnAdded
- Darwin Global Management$2.0bnAdded
- Jupiter Topco$2.0bn
- Vanguard Capital Management$1.7bnAdded
- Vanguard Portfolio Management$1.6bnAdded
- Nextech Invest$1.4bn
- Paradigm Biocapital Advisors LP$1.2bnCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
7 investors own more than 5%.
- Farallon Capital Management, L.L.C.Passive investorat least 6.4%−1.1 pts(filed with 28 related holders)Since 30 June 2026
- BlackRock, Inc.Passive investor5.7%+1.2 ptsSince 30 June 2026
- Baker Bros. Advisors LPPassive investorat least 5.3%+0.4 pts(filed with 3 related holders)Since 30 June 2026
- Wellington Management Company LLPPassive investor5.2%Since 30 June 2025
- JANUS HENDERSON GROUP Ltd.Passive investor5.1%+0.2 ptsSince 30 June 2026
- FMR LLCPassive investorat least 5.0%(filed with 1 related holder)Since 30 September 2025
- Wellington Management Group LLPPassive investorat least 3.6%−1.9 pts(filed with 2 related holders)Since 31 December 2025
- Farallon Capital Partners, L.P.Passive investorSold down below 5%Since 31 December 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Farallon Capital Management, L.L.C. Passive investor | at least 6.4%−1.1 pts (filed with 28 related holders) | 30 June 2026 | |
BlackRock, Inc. Passive investor | 5.7%+1.2 pts | 30 June 2026 | |
Baker Bros. Advisors LP Passive investor | at least 5.3%+0.4 pts (filed with 3 related holders) | 30 June 2026 | |
Wellington Management Company LLP Passive investor | 5.2% | 30 June 2025 | |
JANUS HENDERSON GROUP Ltd. Passive investor | 5.1%+0.2 pts | 30 June 2026 | |
FMR LLC Passive investor | at least 5.0% (filed with 1 related holder) | 30 September 2025 | |
Wellington Management Group LLP Passive investor | at least 3.6%−1.9 pts (filed with 2 related holders) | 31 December 2025 | |
Farallon Capital Partners, L.P. Passive investor | Sold down below 5% | 31 December 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 12 sold $157m, $156m of it under preset trading plans.
- Sandler Alan B.Chief Development OfficerSoldunder a preset trading plan
- Date
- 29 September 2026
- Shares
- 6,309
- Price
- $202.14
- Value
- $1m
- Cislini JeffSVP & General CounselSoldunder a preset trading plan
- Date
- 25 September 2026
- Shares
- 765
- Price
- $207.32
- Value
- $158,600
- Mancini AnthonySee RemarksSoldunder a preset trading plan
- Date
- 25 September 2026
- Shares
- 3,121
- Price
- $200.54
- Value
- $625,885
- Mancini AnthonySee RemarksSoldunder a preset trading plan
- Date
- 24 September 2026
- Shares
- 587
- Price
- $200.00
- Value
- $117,400
- ANDERSON ELIZABETH MDirectorSoldunder a preset trading plan
- Date
- 22 September 2026
- Shares
- 10,143
- Price
- $193.04
- Value
- $2m
- Mancini AnthonySee RemarksSoldunder a preset trading plan
- Date
- 18 September 2026
- Shares
- 1,764
- Price
- $196.94
- Value
- $347,402
- Mancini AnthonySee RemarksSoldunder a preset trading plan
- Date
- 16 September 2026
- Shares
- 1,774
- Price
- $199.24
- Value
- $353,449
- Cislini JeffSVP & General CounselSoldunder a preset trading plan
- Date
- 16 September 2026
- Shares
- 3,366
- Price
- $199.24
- Value
- $670,631
- Sandler Alan B.Chief Development OfficerSoldunder a preset trading plan
- Date
- 16 September 2026
- Shares
- 341
- Price
- $199.24
- Value
- $67,941
- Anders JackChief Financial OfficerSoldunder a preset trading plan
- Date
- 16 September 2026
- Shares
- 4,053
- Price
- $199.24
- Value
- $807,513
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 29 September 2026 | Sandler Alan B. Chief Development Officer | Sold under a preset trading plan | 6,309 | $202.14 | $1m |
| 25 September 2026 | Cislini Jeff SVP & General Counsel | Sold under a preset trading plan | 765 | $207.32 | $158,600 |
| 25 September 2026 | Mancini Anthony See Remarks | Sold under a preset trading plan | 3,121 | $200.54 | $625,885 |
| 24 September 2026 | Mancini Anthony See Remarks | Sold under a preset trading plan | 587 | $200.00 | $117,400 |
| 22 September 2026 | ANDERSON ELIZABETH M Director | Sold under a preset trading plan | 10,143 | $193.04 | $2m |
| 18 September 2026 | Mancini Anthony See Remarks | Sold under a preset trading plan | 1,764 | $196.94 | $347,402 |
| 16 September 2026 | Mancini Anthony See Remarks | Sold under a preset trading plan | 1,774 | $199.24 | $353,449 |
| 16 September 2026 | Cislini Jeff SVP & General Counsel | Sold under a preset trading plan | 3,366 | $199.24 | $670,631 |
| 16 September 2026 | Sandler Alan B. Chief Development Officer | Sold under a preset trading plan | 341 | $199.24 | $67,941 |
| 16 September 2026 | Anders Jack Chief Financial Officer | Sold under a preset trading plan | 4,053 | $199.24 | $807,513 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.