Comprehensive Stock Comparison
Compare Exelixis, Inc. (EXEL) vs Regeneron Pharmaceuticals, Inc. (REGN) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | EXEL | 7.0% revenue growth vs REGN's 1.0% |
| Value | EXEL | Lower P/E (13.3x vs 17.3x), PEG 0.26 vs 2.73 |
| Quality / Margins | REGN | 31.4% net margin vs EXEL's 29.6% |
| Stability / Safety | REGN | Beta 0.58 vs EXEL's 0.63 |
| Dividends | REGN | 0.4% yield; 1-year raise streak; EXEL pays no meaningful dividend |
| Momentum (1Y) | EXEL | +13.9% vs REGN's +12.4% |
| Efficiency (ROA) | EXEL | 24.0% ROA vs REGN's 11.1%, ROIC 32.1% vs 12.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Exelixis is an oncology-focused biotechnology company that discovers, develops, and commercializes targeted cancer therapies. It generates revenue primarily from sales of its flagship drug Cabometyx — which accounts for the vast majority of its revenue — along with royalties from partnered products like Cotellic. The company's competitive advantage lies in its deep expertise in tyrosine kinase inhibitors and its focused pipeline targeting difficult-to-treat cancers.
Regeneron Pharmaceuticals is a biotechnology company that discovers, develops, and commercializes innovative medicines for serious diseases. It generates revenue primarily from sales of its flagship products — EYLEA for eye diseases (~60% of revenue) and Dupixent for inflammatory conditions (~30%) — with additional income from collaborations and royalties. The company's competitive advantage lies in its proprietary VelocImmune technology platform for creating human antibodies and its deep expertise in genetic research, which enables rapid drug discovery and development.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
EXEL leads in 4 of 6 categories (Financial Metrics, Valuation Metrics). REGN leads in 1 (Risk & Volatility).
Financial Metrics (TTM)
REGN is the larger business by revenue, generating $14.3B annually — 6.3x EXEL's $2.3B. Profitability is closely matched — net margins range from 31.4% (REGN) to 29.6% (EXEL). On growth, EXEL holds the edge at +10.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | EXELExelixis, Inc. | REGNRegeneron Pharmac… |
|---|---|---|
| RevenueTrailing 12 months | $2.3B | $14.3B |
| EBITDAEarnings before interest/tax | $830M | $4.2B |
| Net IncomeAfter-tax profit | $678M | $4.5B |
| Free Cash FlowCash after capex | $753M | $3.2B |
| Gross MarginGross profit ÷ Revenue | +96.6% | +86.3% |
| Operating MarginEBIT ÷ Revenue | +35.0% | +25.7% |
| Net MarginNet income ÷ Revenue | +29.6% | +31.4% |
| FCF MarginFCF ÷ Revenue | +32.9% | +22.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +10.8% | +2.5% |
| EPS Growth (YoY)Latest quarter vs prior year | +75.0% | -2.5% |
Valuation Metrics
At 15.8x trailing earnings, EXEL trades at a 16% valuation discount to REGN's 18.8x P/E. Adjusting for growth (PEG ratio), EXEL offers better value at 0.31x vs REGN's 2.98x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | EXELExelixis, Inc. | REGNRegeneron Pharmac… |
|---|---|---|
| Market CapShares × price | $11.8B | $107.6B |
| Enterprise ValueMkt cap + debt − cash | $11.5B | $91.4B |
| Trailing P/EPrice ÷ TTM EPS | 15.85x | 18.84x |
| Forward P/EPrice ÷ next-FY EPS est. | 13.29x | 17.25x |
| PEG RatioP/E ÷ EPS growth rate | 0.31x | 2.98x |
| EV / EBITDAEnterprise value multiple | 13.19x | 21.64x |
| Price / SalesMarket cap ÷ Revenue | 5.09x | 7.50x |
| Price / BookPrice ÷ Book value/share | 5.75x | 2.72x |
| Price / FCFMarket cap ÷ FCF | 13.36x | 26.36x |
Profitability & Efficiency
EXEL delivers a 31.4% return on equity — every $100 of shareholder capital generates $31 in annual profit, vs $14 for REGN. EXEL carries lower financial leverage with a 0.08x debt-to-equity ratio, signaling a more conservative balance sheet compared to REGN's 0.09x.
| Metric | EXELExelixis, Inc. | REGNRegeneron Pharmac… |
|---|---|---|
| ROE (TTM)Return on equity | +31.4% | +14.4% |
| ROA (TTM)Return on assets | +24.0% | +11.1% |
| ROICReturn on invested capital | +32.1% | +12.4% |
| ROCEReturn on capital employed | +35.0% | +10.8% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 7 |
| Debt / EquityFinancial leverage | 0.08x | 0.09x |
| Net DebtTotal debt minus cash | -$309M | -$16.2B |
| Cash & Equiv.Liquid assets | $482M | $18.9B |
| Total DebtShort + long-term debt | $173M | $2.7B |
| Interest CoverageEBIT ÷ Interest expense | — | 120.42x |
Total Returns (with DRIP)
A $10,000 investment in EXEL five years ago would be worth $19,758 today (with dividends reinvested), compared to $16,977 for REGN. Over the past 12 months, EXEL leads with a +13.9% total return vs REGN's +12.4%. The 3-year compound annual growth rate (CAGR) favors EXEL at 37.1% vs REGN's 1.1% — a key indicator of consistent wealth creation.
| Metric | EXELExelixis, Inc. | REGNRegeneron Pharmac… |
|---|---|---|
| YTD ReturnYear-to-date | +1.1% | +0.8% |
| 1-Year ReturnPast 12 months | +13.9% | +12.4% |
| 3-Year ReturnCumulative with dividends | +158.0% | +3.4% |
| 5-Year ReturnCumulative with dividends | +97.6% | +69.8% |
| 10-Year ReturnCumulative with dividends | +1110.4% | +104.7% |
| CAGR (3Y)Annualised 3-year return | +37.1% | +1.1% |
Risk & Volatility
REGN is the less volatile stock with a 0.58 beta — it tends to amplify market swings less than EXEL's 0.63 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. REGN currently trades 95.2% from its 52-week high vs EXEL's 88.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | EXELExelixis, Inc. | REGNRegeneron Pharmac… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.63x | 0.58x |
| 52-Week HighHighest price in past year | $49.62 | $821.11 |
| 52-Week LowLowest price in past year | $32.38 | $476.49 |
| % of 52W HighCurrent price vs 52-week peak | +88.8% | +95.2% |
| RSI (14)Momentum oscillator 0–100 | 53.1 | 49.1 |
| Avg Volume (50D)Average daily shares traded | 2.1M | 687K |
Analyst Outlook
Wall Street rates EXEL as "Buy" and REGN as "Buy". Consensus price targets imply 9.7% upside for REGN (target: $857) vs 0.8% for EXEL (target: $44). REGN is the only dividend payer here at 0.44% yield — a key consideration for income-focused portfolios.
| Metric | EXELExelixis, Inc. | REGNRegeneron Pharmac… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $44.40 | $857.17 |
| # AnalystsCovering analysts | 32 | 48 |
| Dividend YieldAnnual dividend ÷ price | — | +0.4% |
| Dividend StreakConsecutive years of raises | — | 1 |
| Dividend / ShareAnnual DPS | — | $3.41 |
| Buyback YieldShare repurchases ÷ mkt cap | +8.0% | +3.2% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Exelixis, Inc. (EXEL) | 100 | 221.93 | +121.9% |
| Regeneron Pharmaceu… (REGN) | 100 | 162.46 | +62.5% |
Exelixis, Inc. (EXEL) returned +98% over 5 years vs Regeneron Pharmaceu… (REGN)'s +70%. A $10,000 investment in EXEL 5 years ago would be worth $19,758 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Exelixis, Inc. (EXEL) | $191M | $2.3B | +1111.8% |
| Regeneron Pharmaceu… (REGN) | $4.9B | $14.3B | +195.1% |
Exelixis, Inc.'s revenue grew from $191M (2016) to $2.3B (2025) — a 31.9% CAGR. Regeneron Pharmaceuticals, Inc.'s revenue grew from $4.9B (2016) to $14.3B (2025) — a 12.8% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Exelixis, Inc. (EXEL) | -36.7% | 33.7% | +192.0% |
| Regeneron Pharmaceu… (REGN) | 18.4% | 31.4% | +70.5% |
Exelixis, Inc.'s net margin went from -37% (2016) to 34% (2025). Regeneron Pharmaceuticals, Inc.'s net margin went from 18% (2016) to 31% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Exelixis, Inc. (EXEL) | 62 | 15.8 | -74.5% |
| Regeneron Pharmaceu… (REGN) | 36.4 | 18.6 | -48.9% |
Exelixis, Inc. has traded in a 9x–62x P/E range over 9 years; current trailing P/E is ~16x. Regeneron Pharmaceuticals, Inc. has traded in a 9x–36x P/E range over 9 years; current trailing P/E is ~19x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Exelixis, Inc. (EXEL) | -0.28 | 2.78 | +1092.9% |
| Regeneron Pharmaceu… (REGN) | 7.7 | 41.48 | +438.7% |
Exelixis, Inc.'s EPS grew from $-0.28 (2016) to $2.78 (2025). Regeneron Pharmaceuticals, Inc.'s EPS grew from $7.70 (2016) to $41.48 (2025) — a 21% CAGR.
Chart 6Free Cash Flow — 5 Years
Exelixis, Inc. generated $884M FCF in 2025 (+163% vs 2021). Regeneron Pharmaceuticals, Inc. generated $4B FCF in 2025 (-38% vs 2021).
EXEL vs REGN: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is EXEL or REGN a better buy right now?
Exelixis, Inc. (EXEL) offers the better valuation at 15.8x trailing P/E (13.3x forward), making it the more compelling value choice. Analysts rate Exelixis, Inc. (EXEL) a "Buy" — based on 32 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — EXEL or REGN?
On trailing P/E, Exelixis, Inc. (EXEL) is the cheapest at 15.8x versus Regeneron Pharmaceuticals, Inc. at 18.8x. On forward P/E, Exelixis, Inc. is actually cheaper at 13.3x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Exelixis, Inc. wins at 0.26x versus Regeneron Pharmaceuticals, Inc.'s 2.73x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — EXEL or REGN?
Over the past 5 years, Exelixis, Inc. (EXEL) delivered a total return of +97.6%, compared to +69.8% for Regeneron Pharmaceuticals, Inc. (REGN). A $10,000 investment in EXEL five years ago would be worth approximately $20K today (assuming dividends reinvested). Over 10 years, the gap is even starker: EXEL returned +1110% versus REGN's +104.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — EXEL or REGN?
By beta (market sensitivity over 5 years), Regeneron Pharmaceuticals, Inc. (REGN) is the lower-risk stock at 0.58β versus Exelixis, Inc.'s 0.63β — meaning EXEL is approximately 9% more volatile than REGN relative to the S&P 500. On balance sheet safety, Exelixis, Inc. (EXEL) carries a lower debt/equity ratio of 8% versus 9% for Regeneron Pharmaceuticals, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — EXEL or REGN?
Exelixis, Inc. (EXEL) is the more profitable company, earning 33.7% net margin versus 31.4% for Regeneron Pharmaceuticals, Inc. — meaning it keeps 33.7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: EXEL leads at 37.6% versus 25.7% for REGN. At the gross margin level — before operating expenses — EXEL leads at 96.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is EXEL or REGN more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Exelixis, Inc. (EXEL) is the more undervalued stock at a PEG of 0.26x versus Regeneron Pharmaceuticals, Inc.'s 2.73x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Exelixis, Inc. (EXEL) trades at 13.3x forward P/E versus 17.3x for Regeneron Pharmaceuticals, Inc. — 4.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for REGN: 9.7% to $857.17.
07Which pays a better dividend — EXEL or REGN?
In this comparison, REGN (0.4% yield) pays a dividend. EXEL does not pay a meaningful dividend and should not be held primarily for income.
08Is EXEL or REGN better for a retirement portfolio?
For long-horizon retirement investors, Exelixis, Inc. (EXEL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.63), +1110% 10Y return). Both have compounded well over 10 years (EXEL: +1110%, REGN: +104.7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between EXEL and REGN?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: EXEL is a mid-cap deep-value stock; REGN is a mid-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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