Comprehensive Stock Comparison
Compare Exelixis, Inc. (EXEL) vs ImmunityBio, Inc. (IBRX) 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 | IBRX | 22.7% revenue growth vs EXEL's 7.0% |
| Quality / Margins | EXEL | 29.6% net margin vs IBRX's -422.3% |
| Stability / Safety | EXEL | Beta 0.63 vs IBRX's 1.39 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | IBRX | +197.3% vs EXEL's +13.9% |
| Efficiency (ROA) | EXEL | 24.0% ROA vs IBRX's -93.2% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
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.
ImmunityBio is a clinical-stage biotechnology company developing immunotherapies and vaccines for cancers and infectious diseases. It generates revenue primarily through research collaborations and licensing agreements — though as a pre-commercial biotech, it currently relies heavily on equity financing and grants to fund its clinical trials. The company's competitive advantage lies in its integrated immunotherapy platform that combines multiple immune system activation approaches — including antibody cytokine fusion proteins, natural killer cells, and T-cell therapies — which could potentially create synergistic treatment effects.
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 3 of 6 categories (Financial Metrics, Profitability & Efficiency). IBRX leads in 1 (Total Returns). 1 tied.
Financial Metrics (TTM)
EXEL is the larger business by revenue, generating $2.3B annually — 27.7x IBRX's $83M. EXEL is the more profitable business, keeping 29.6% of every revenue dollar as net income compared to IBRX's -4.2%. On growth, IBRX holds the edge at +4.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | EXELExelixis, Inc. | IBRXImmunityBio, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $2.3B | $83M |
| EBITDAEarnings before interest/tax | $830M | -$245M |
| Net IncomeAfter-tax profit | $678M | -$349M |
| Free Cash FlowCash after capex | $753M | -$324M |
| Gross MarginGross profit ÷ Revenue | +96.6% | +94.8% |
| Operating MarginEBIT ÷ Revenue | +35.0% | -3.2% |
| Net MarginNet income ÷ Revenue | +29.6% | -4.2% |
| FCF MarginFCF ÷ Revenue | +32.9% | -3.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +10.8% | +4.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +75.0% | +40.8% |
Valuation Metrics
| Metric | EXELExelixis, Inc. | IBRXImmunityBio, Inc. |
|---|---|---|
| Market CapShares × price | $11.8B | $9.6B |
| Enterprise ValueMkt cap + debt − cash | $11.5B | $10.0B |
| Trailing P/EPrice ÷ TTM EPS | 15.85x | -15.77x |
| Forward P/EPrice ÷ next-FY EPS est. | 13.29x | — |
| PEG RatioP/E ÷ EPS growth rate | 0.31x | — |
| EV / EBITDAEnterprise value multiple | 13.19x | — |
| Price / SalesMarket cap ÷ Revenue | 5.09x | 653.30x |
| Price / BookPrice ÷ Book value/share | 5.75x | — |
| Price / FCFMarket cap ÷ FCF | 13.36x | — |
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), EXEL scores 7/9 vs IBRX's 4/9, reflecting strong financial health.
| Metric | EXELExelixis, Inc. | IBRXImmunityBio, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +31.4% | — |
| ROA (TTM)Return on assets | +24.0% | -93.2% |
| ROICReturn on invested capital | +32.1% | — |
| ROCEReturn on capital employed | +35.0% | -88.9% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 4 |
| Debt / EquityFinancial leverage | 0.08x | — |
| Net DebtTotal debt minus cash | -$309M | $361M |
| Cash & Equiv.Liquid assets | $482M | $143M |
| Total DebtShort + long-term debt | $173M | $504M |
| Interest CoverageEBIT ÷ Interest expense | — | -2.48x |
Total Returns (with DRIP)
A $10,000 investment in EXEL five years ago would be worth $19,758 today (with dividends reinvested), compared to $2,937 for IBRX. Over the past 12 months, IBRX leads with a +197.3% total return vs EXEL's +13.9%. The 3-year compound annual growth rate (CAGR) favors IBRX at 58.8% vs EXEL's 37.1% — a key indicator of consistent wealth creation.
| Metric | EXELExelixis, Inc. | IBRXImmunityBio, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +1.1% | +384.2% |
| 1-Year ReturnPast 12 months | +13.9% | +197.3% |
| 3-Year ReturnCumulative with dividends | +158.0% | +300.8% |
| 5-Year ReturnCumulative with dividends | +97.6% | -70.6% |
| 10-Year ReturnCumulative with dividends | +1110.4% | +42.2% |
| CAGR (3Y)Annualised 3-year return | +37.1% | +58.8% |
Risk & Volatility
EXEL is the less volatile stock with a 0.63 beta — it tends to amplify market swings less than IBRX's 1.39 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. EXEL currently trades 88.8% from its 52-week high vs IBRX's 78.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | EXELExelixis, Inc. | IBRXImmunityBio, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.63x | 1.39x |
| 52-Week HighHighest price in past year | $49.62 | $12.43 |
| 52-Week LowLowest price in past year | $32.38 | $1.83 |
| % of 52W HighCurrent price vs 52-week peak | +88.8% | +78.7% |
| RSI (14)Momentum oscillator 0–100 | 53.1 | 65.0 |
| Avg Volume (50D)Average daily shares traded | 2.1M | 32.7M |
Analyst Outlook
Wall Street rates EXEL as "Buy" and IBRX as "Buy". Consensus price targets imply 12.5% upside for IBRX (target: $11) vs 0.8% for EXEL (target: $44).
| Metric | EXELExelixis, Inc. | IBRXImmunityBio, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $44.40 | $11.00 |
| # AnalystsCovering analysts | 32 | 5 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +8.0% | 0.0% |
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% |
| ImmunityBio, Inc. (IBRX) | 100 | 120.2 | +20.2% |
Exelixis, Inc. (EXEL) returned +98% over 5 years vs ImmunityBio, Inc. (IBRX)'s -71%. 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% |
| ImmunityBio, Inc. (IBRX) | $44000.00 | $15M | +33411.4% |
Exelixis, Inc.'s revenue grew from $191M (2016) to $2.3B (2025) — a 31.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Exelixis, Inc. (EXEL) | -36.7% | 33.7% | +192.0% |
| ImmunityBio, Inc. (IBRX) | -2745.7% | -28.0% | +99.0% |
Exelixis, Inc.'s net margin went from -37% (2016) to 34% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Exelixis, Inc. (EXEL) | 62 | 15.8 | -74.5% |
Exelixis, Inc. has traded in a 9x–62x P/E range over 9 years; current trailing P/E is ~16x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Exelixis, Inc. (EXEL) | -0.28 | 2.78 | +1092.9% |
| ImmunityBio, Inc. (IBRX) | -0.37 | -0.62 | -67.6% |
Exelixis, Inc.'s EPS grew from $-0.28 (2016) to $2.78 (2025).
Chart 6Free Cash Flow — 5 Years
Exelixis, Inc. generated $884M FCF in 2025 (+163% vs 2021). ImmunityBio, Inc. generated $-398M FCF in 2024 (-29% vs 2021).
EXEL vs IBRX: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is EXEL or IBRX 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 is the better long-term investment — EXEL or IBRX?
Over the past 5 years, Exelixis, Inc. (EXEL) delivered a total return of +97.6%, compared to -70.6% for ImmunityBio, Inc. (IBRX). 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 IBRX's +42.2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — EXEL or IBRX?
By beta (market sensitivity over 5 years), Exelixis, Inc. (EXEL) is the lower-risk stock at 0.63β versus ImmunityBio, Inc.'s 1.39β — meaning IBRX is approximately 123% more volatile than EXEL relative to the S&P 500.
04Which has better profit margins — EXEL or IBRX?
Exelixis, Inc. (EXEL) is the more profitable company, earning 33.7% net margin versus -28.0% for ImmunityBio, 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 -23.3% for IBRX. At the gross margin level — before operating expenses — IBRX leads at 100.0%, 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.
05Is EXEL or IBRX more undervalued right now?
Analyst consensus price targets imply the most upside for IBRX: 12.5% to $11.00.
06Which pays a better dividend — EXEL or IBRX?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
07Is EXEL or IBRX 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%, IBRX: +42.2%), 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.
08What are the main differences between EXEL and IBRX?
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; IBRX is a small-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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