Exelixis, Inc. (EXEL) 10-Year Financial Performance & Capital Metrics

EXEL •

HealthcareBiotechnologyOncology Therapeutics Developers

AboutExelixis, Inc., an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer. Its CABOMETYX and COMETRIQ are derived from cabozantinib, an inhibitor of multiple tyrosine kinases, including MET, AXL, RET, and VEGF receptors. The company also offers COTELLIC, an inhibitor of MEK as a combination regimen to treat advanced melanoma; and MINNEBRO, an oral non-steroidal selective blocker of the mineralocorticoid receptor for the treatment of hypertension in Japan. In addition, it is developing XL092, an oral tyrosine kinase inhibitor that targets VEGF receptors, MET, AXL, MER, and other kinases implicated in growth and spread of cancer; XB002, an antibody-drug conjugate composed of human mAb against tissue factor (TF) for the treatment of advanced solid tumors; XL102, an orally bioavailable cyclin-dependent kinase 7 (CDK7) inhibitor for the treatment of advanced or metastatic solid tumors; and XB002 for the treatment of non-hodgkin's lymphoma. Exelixis, Inc. has research collaborations and license agreements with Ipsen Pharma SAS; Takeda Pharmaceutical Company Ltd.; F. Hoffmann-La Roche Ltd.; Redwood Bioscience, Inc.; R.P. Scherer Technologies, LLC; Catalent Pharma Solutions, Inc.; NBE Therapeutics AG; Aurigene Discovery Technologies Limited; Iconic Therapeutics, Inc.; Invenra, Inc.; StemSynergy Therapeutics, Inc.; Genentech, Inc.; Bristol-Myers Squibb Company; and Daiichi Sankyo Company, Limited. The company was formerly known as Exelixis Pharmaceuticals, Inc. and changed its name to Exelixis, Inc. in February 2000. Exelixis, Inc. was incorporated in 1994 and is headquartered in Alameda, California.Show more

Revenue $2.32B +7.0%
EBITDA $872M +37.7%
Net Income $783M +50.1%
EPS (Diluted) 2.78 +58.0%
Gross Margin -
EBITDA Margin 37.59% +28.7%
Operating Margin 37.59% +34.8%
Net Margin 33.73% +40.3%
ROE 35.53% +53.6%
ROIC 32.15% +56.3%
Debt/Equity 0.08 -5.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 22.5%
✓Strong 5Y profit CAGR of 47.6%
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 38.1% free cash flow margin
✓Strong 5Y sales CAGR of 18.6%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y51.19%

5Y18.63%

3Y12.93%

TTM9.93%

Profit (Net Income) CAGR

10Y-

5Y47.58%

3Y62.53%

TTM45.18%

EPS CAGR

10Y-

5Y51.35%

3Y70.59%

TTM51.92%

ROCE

10Y Avg19.33%

5Y Avg17.37%

3Y Avg21.74%

Latest35.01%

Peer Comparison

Oncology Therapeutics Developers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EXELExelixis, Inc.	11.81B	44.06	15.85	6.98%	29.63%	31.37%	7.49%	0.08
INCYIncyte Corporation	20.1B	101.27	15.80	21.22%	25.03%	24.9%	6.74%	0.01
GMABGenmab A/S	18.13B	29.44	15.36	30.67%	46.8%	114.25%	6.6%	0.03
SNDXSyndax Pharmaceuticals, Inc.	1.89B	21.71	-5.82		-279.31%	-269.93%		1.20
RCUSArcus Biosciences, Inc.	2.55B	20.37	-6.19	-4.26%	-142.91%	-55.94%		0.16
RLAYRelay Therapeutics, Inc.	1.78B	10.26	-6.37	53.44%	-18.01%	-48.76%		0.06
STROSutro Biopharma, Inc.	1.74B	20.47	-6.92	-59.64%	-205.18%	-234.19%		4.57
OLMAOlema Pharmaceuticals, Inc.	1.66B	24.20	-11			-48.77%		0.00

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Jan 2025	Jan 2026
Sales/Revenue+	191.45M	452.48M	853.83M	967.77M	987.54M	1.43B	1.61B	1.83B	2.17B	2.32B
Revenue Growth %	415.05%	136.34%	88.7%	13.35%	2.04%	45.31%	12.27%	13.6%	18.49%	6.98%
Cost of Goods Sold+	6.55M	15.07M	26.35M	33.1M	36.27M	52.87M	57.91M	72.55M	76.22M	0
COGS % of Revenue	3.42%	3.33%	3.09%	3.42%	3.67%	3.68%	3.59%	3.96%	3.51%	-
Gross Profit+	184.9M	437.41M	827.48M	934.68M	951.27M	1.38B	1.55B	1.76B	2.09B	0
Gross Margin %	96.58%	96.67%	96.91%	96.58%	96.33%	96.32%	96.41%	96.04%	96.49%	-
Gross Profit Growth %	455.64%	136.56%	89.18%	12.96%	1.77%	45.29%	12.38%	13.17%	19.05%	-100%
Operating Expenses+	212.11M	271.53M	388.62M	565.21M	841.21M	1.1B	1.35B	1.59B	1.49B	1.45B
OpEx % of Revenue	110.79%	60.01%	45.52%	58.4%	85.18%	76.34%	83.9%	86.7%	68.61%	62.41%
Selling, General & Admin	116.14M	159.33M	206.37M	228.24M	293.36M	401.71M	459.86M	542.71M	492.13M	518.73M
SG&A % of Revenue	60.66%	35.21%	24.17%	23.58%	29.71%	27.99%	28.54%	29.65%	22.69%	22.36%
Research & Development	95.97M	112.17M	182.26M	336.96M	547.85M	693.72M	891.81M	1.04B	910.41M	825M
R&D % of Revenue	50.13%	24.79%	21.35%	34.82%	55.48%	48.34%	55.36%	57.05%	41.98%	35.56%
Other Operating Expenses	0	0	397K	680K	912K	-184K	-197K	0	85.33M	104.21M
Operating Income+	-28.12M	165.91M	438.86M	369.47M	110.06M	286.67M	201.48M	170.88M	604.62M	872.19M
Operating Margin %	-14.69%	36.67%	51.4%	38.18%	11.14%	19.98%	12.51%	9.34%	27.88%	37.59%
Operating Income Growth %	76.84%	689.92%	164.51%	-15.81%	-70.21%	160.46%	-29.71%	-15.19%	253.82%	44.26%
EBITDA+	-27.12M	167.1M	443.77M	380.64M	119.2M	300.3M	222.36M	196.6M	633.42M	872.19M
EBITDA Margin %	-14.17%	36.93%	51.97%	39.33%	12.07%	20.93%	13.8%	10.74%	29.21%	37.59%
EBITDA Growth %	77.4%	716.09%	165.58%	-14.23%	-68.68%	151.92%	-25.95%	-11.58%	222.18%	37.7%
D&A (Non-Cash Add-back)	1M	1.19M	4.92M	11.17M	9.14M	13.63M	20.88M	25.72M	28.8M	0
EBIT	-37.16M	167.11M	438.86M	398.11M	110.06M	286.67M	201.48M	170.88M	689.95M	0
Net Interest Income+	-30.48M	-3.8M	12.84M	27.96M	19.86M	7.67M	33.06M	86.54M	77.16M	0
Interest Income	2.58M	4.88M	12.84M	27.96M	19.86M	7.67M	33.06M	86.54M	77.16M	69.21M
Interest Expense	33.06M	8.68M	0	0	0	0	0	0	0	0
Other Income/Expense	-42.1M	-7.33M	13.24M	28.64M	20.78M	7.49M	32.87M	86.64M	77.02M	69.02M
Pretax Income+	-70.22M	158.58M	452.09M	398.11M	130.84M	294.15M	234.35M	257.52M	681.64M	941.21M
Pretax Margin %	-36.68%	35.05%	52.95%	41.14%	13.25%	20.5%	14.55%	14.07%	31.43%	40.57%
Income Tax+	0	4.35M	-237.98M	77.1M	19.06M	63.09M	52.07M	49.76M	160.37M	158.64M
Effective Tax Rate %	100%	97.26%	152.64%	80.63%	85.44%	78.55%	77.78%	80.68%	76.47%	83.15%
Net Income+	-70.22M	154.23M	690.07M	321.01M	111.78M	231.06M	182.28M	207.76M	521.27M	782.57M
Net Margin %	-36.68%	34.09%	80.82%	33.17%	11.32%	16.1%	11.31%	11.35%	24.04%	33.73%
Net Income Growth %	58.63%	319.63%	347.44%	-53.48%	-65.18%	106.71%	-21.11%	13.98%	150.89%	50.13%
Net Income (Continuing)	-70.22M	154.23M	690.07M	321.01M	111.78M	231.06M	182.28M	207.76M	521.27M	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.28	0.49	2.21	1.02	0.35	0.72	0.56	0.65	1.76	2.78
EPS Growth %	65.43%	275%	351.02%	-53.85%	-65.69%	105.71%	-22.22%	16.07%	170.77%	57.95%
EPS (Basic)	-0.28	0.52	2.32	1.06	0.36	0.73	0.57	0.65	1.80	2.88
Diluted Shares Outstanding	250.53M	312M	312.8M	315.01M	318M	322.36M	324.56M	321.46M	296.13M	281.86M
Basic Shares Outstanding	250.53M	293.59M	297.89M	302.58M	308.27M	314.88M	321.53M	318.15M	290.03M	271.57M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Jan 2025	Jan 2026
Total Current Assets+	470.8M	484.87M	897.02M	1.01B	1.45B	1.83B	1.62B	1.32B	1.47B	1.44B
Cash & Short-Term Investments	419.8M	387.77M	693.33M	852.24M	1.21B	1.47B	1.31B	995.3M	1.11B	1.06B
Cash Only	151.69M	183.16M	314.77M	266.5M	319.22M	647.17M	501.19M	262.99M	217.37M	482.49M
Short-Term Investments	268.12M	204.61M	378.56M	585.74M	887.32M	819.9M	807.27M	732.31M	893.9M	576.6M
Accounts Receivable	40.44M	81.19M	162.77M	119.07M	160.88M	282.65M	214.78M	237.41M	265.44M	286.92M
Days Sales Outstanding	77.11	65.5	69.58	44.91	59.46	71.9	48.66	47.35	44.67	45.14
Inventory	3.34M	6.66M	9.84M	12.89M	20.97M	27.49M	33.3M	17.32M	22.39M	21.69M
Days Inventory Outstanding	185.95	161.28	136.29	142.11	211.05	189.79	209.88	87.16	107.22	-
Other Current Assets	0	504K	0	0	0	0	62.21M	67.93M	68.48M	75.6M
Total Non-Current Assets+	126.74M	170.42M	525.27M	874.48M	691.94M	781.49M	1.45B	1.62B	1.48B	1.4B
Property, Plant & Equipment	2.07M	25.74M	56.76M	90.73M	67.38M	104.03M	345.44M	470.85M	359.11M	441.26M
Fixed Asset Turnover	92.45x	17.58x	15.04x	10.67x	14.66x	13.79x	4.66x	3.89x	6.04x	5.26x
Goodwill	63.68M	63.68M	63.68M	63.68M	63.68M	63.68M	63.68M	63.68M	63.68M	63.68M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	55.6M	64.25M	157.19M	536.38M	332.31M	371.11M	756.73M	728.72M	637.29M	0
Other Non-Current Assets	5.38M	16.74M	3.52M	11.31M	71.85M	131M	55.77M	0	0	603.6M
Total Assets+	597.54M	655.29M	1.42B	1.89B	2.14B	2.62B	3.07B	2.94B	2.95B	2.84B
Asset Turnover	0.32x	0.69x	0.60x	0.51x	0.46x	0.55x	0.52x	0.62x	0.74x	0.82x
Asset Growth %	79.8%	9.67%	117.05%	32.58%	13.35%	22.41%	17.4%	-4.2%	0.18%	-3.5%
Total Current Liabilities+	270.59M	115.17M	105.47M	142.75M	204.66M	337.59M	324.36M	394.28M	403.77M	405.64M
Accounts Payable	6.57M	9.57M	10.9M	11.58M	23.63M	24.26M	32.67M	33.77M	38.19M	29.62M
Days Payables Outstanding	365.72	231.97	151.01	127.72	237.81	167.46	205.9	169.89	182.9	-
Short-Term Debt	189.12M	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	19.66M	31.98M	15.9M	6.6M	1.79M	7.81M	7.49M	0	0	0
Other Current Liabilities	33.1M	52.54M	3.19M	15.13M	42.66M	45.55M	71.44M	82.12M	267.22M	405.64M
Current Ratio	1.74x	4.21x	8.50x	7.08x	7.06x	5.43x	4.99x	3.34x	3.63x	3.56x
Quick Ratio	1.73x	4.15x	8.41x	6.99x	6.96x	5.35x	4.89x	3.30x	3.58x	3.50x
Cash Conversion Cycle	-102.67	-5.2	54.86	59.3	32.7	94.23	52.64	-35.39	-31.01	-
Total Non-Current Liabilities+	237.63M	255.16M	29.36M	56.95M	53.56M	68.03M	258.7M	284.17M	299.72M	277.46M
Long-Term Debt	0	0	0	0	0	0	0	0	0	173.04M
Capital Lease Obligations	0	14.53M	12.18M	48.01M	49.09M	51.27M	190.17M	189.94M	190.82M	0
Deferred Tax Liabilities	0	-14.53M	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	541K	16.64M	1.29M	2.35M	721K	8.02M	61.95M	94.22M	108.89M	104.42M
Total Liabilities	508.22M	370.33M	134.83M	199.7M	258.22M	405.62M	583.06M	678.45M	703.49M	683.1M
Total Debt+	189.12M	14.53M	14.92M	50.74M	49.09M	51.27M	190.17M	189.94M	190.82M	173.04M
Net Debt	37.44M	-168.63M	-299.86M	-215.76M	-270.13M	-595.9M	-311.02M	-73.05M	-26.55M	-309.45M
Debt / Equity	2.12x	0.05x	0.01x	0.03x	0.03x	0.02x	0.08x	0.08x	0.09x	0.08x
Debt / EBITDA	-	0.09x	0.03x	0.13x	0.41x	0.17x	0.86x	0.97x	0.30x	0.20x
Net Debt / EBITDA	-	-1.01x	-0.68x	-0.57x	-2.27x	-1.98x	-1.40x	-0.37x	-0.04x	-0.35x
Interest Coverage	-0.85x	19.12x	-	-	-	-	-	-	-	-
Total Equity+	89.32M	284.96M	1.29B	1.69B	1.88B	2.21B	2.49B	2.26B	2.24B	2.16B
Equity Growth %	185.63%	219.04%	351.8%	30.95%	11.46%	17.64%	12.57%	-9.02%	-0.87%	-3.69%
Book Value per Share	0.36	0.91	4.12	5.35	5.91	6.86	7.67	7.04	7.58	7.67
Total Shareholders' Equity	89.32M	284.96M	1.29B	1.69B	1.88B	2.21B	2.49B	2.26B	2.24B	2.16B
Common Stock	290K	296K	300K	305K	312K	319K	324K	303K	282K	262K
Retained Earnings	-1.98B	-1.83B	-880.36M	-559.35M	-447.57M	-216.51M	-34.23M	-173.35M	-98.65M	-76.83M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-416K	-347K	-701K	3.07M	4.48M	-758K	-14.52M	-3.75M	-1.35M	3.48M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Jan 2025	Jan 2026
Cash from Operations+	206.3M	165.61M	415.72M	526.96M	208.98M	400.8M	362.61M	333.32M	699.97M	884.27M
Operating CF Margin %	107.75%	36.6%	48.69%	54.45%	21.16%	27.93%	22.51%	18.21%	32.28%	38.11%
Operating CF Growth %	245.7%	-19.72%	151.02%	26.76%	-60.34%	91.79%	-9.53%	-8.08%	110%	26.33%
Net Income	-70.22M	154.23M	690.07M	321.01M	111.78M	231.06M	182.28M	207.76M	521.27M	782.57M
Depreciation & Amortization	1M	1.19M	7.77M	8.35M	9.14M	13.63M	20.88M	25.72M	28.8M	29.05M
Stock-Based Compensation	22.91M	23.94M	44.32M	56.6M	105.07M	119.82M	107.57M	106.34M	93.84M	112.98M
Deferred Taxes	11.41M	3.26M	-244.11M	71M	15.27M	46.53M	-60.36M	-133.21M	-59.46M	126.24M
Other Non-Cash Items	13.93M	-10.05M	-2.57M	2.91M	7.87M	28.77M	125.04M	140.68M	128.98M	-166.58M
Working Capital Changes	227.27M	-6.95M	-79.76M	67.08M	-40.14M	-39.01M	-12.8M	-13.97M	-13.45M	0
Change in Receivables	-37M	-40.84M	-85.47M	43.72M	-42.47M	-122.32M	66.85M	-22.62M	-27.95M	-21.4M
Change in Inventory	-722K	-3.32M	-3.18M	-5.73M	-21.9M	-13.21M	-11.68M	-12.98M	5.45M	12.22M
Change in Payables	164K	3.01M	856K	39.69M	50.51M	55.09M	23.36M	53.25M	-21.89M	-50.15M
Cash from Investing+	-216.05M	35.8M	-297.85M	-587.25M	-131.22M	-42.88M	-524.41M	-26.95M	-116.78M	350.44M
Capital Expenditures	-1.7M	-21.14M	-33.3M	-12.83M	-30.34M	-54.23M	-27.71M	-40.47M	-28.43M	0
CapEx % of Revenue	0.89%	4.67%	3.9%	1.33%	3.07%	3.78%	1.72%	2.21%	1.31%	-
Acquisitions	2.49M	164K	308K	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.4M	-1M	308K	0	0	-10M	-110.75M	-122.5M	-37.75M	-61.75M
Cash from Financing+	19.8M	-169.93M	9.69M	12.55M	-25.13M	-14.8M	586K	-546.05M	-628.81M	-969.59M
Debt Issued (Net)	-7.71M	-185.79M	-13K	0	0	0	0	0	0	0
Equity Issued (Net)	0	0	0	0	0	0	0	-1000K	-1000K	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-4.11M	-6.56M	-7.57M	0	0	0	0	-550.38M	-652.03M	-947.51M
Other Financing	23.41M	15.86M	9.7M	12.55M	-25.13M	-14.8M	586K	4.33M	23.23M	-969.59M
Net Change in Cash	10.05M	31.48M	127.56M	-47.74M	52.63M	343.12M	-161.21M	-239.68M	-45.62M	265.11M
Free Cash Flow+	204.59M	144.47M	382.42M	514.12M	178.64M	336.58M	224.16M	170.35M	633.79M	884.27M
FCF Margin %	106.86%	31.93%	44.79%	53.12%	18.09%	23.46%	13.91%	9.31%	29.22%	38.11%
FCF Growth %	244.05%	-29.39%	164.71%	34.44%	-65.25%	88.42%	-33.4%	-24%	272.04%	39.52%
FCF per Share	0.82	0.46	1.22	1.63	0.56	1.04	0.69	0.53	2.14	3.14
FCF Conversion (FCF/Net Income)	-2.94x	1.07x	0.60x	1.64x	1.87x	1.73x	1.99x	1.60x	1.34x	1.13x
Interest Paid	21.04M	20.46M	0	0	0	0	0	0	0	0
Taxes Paid	190K	538K	10.68M	7.87M	4.12M	12.96M	127.87M	185.66M	170.48M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-78.62%	82.41%	87.77%	21.59%	6.27%	11.3%	7.76%	8.74%	23.13%	35.53%
Return on Invested Capital (ROIC)	-16.09%	102.38%	59.63%	22.55%	5.36%	13.34%	7.97%	5.87%	20.57%	32.15%
Gross Margin	96.58%	96.67%	96.91%	96.58%	96.33%	96.32%	96.41%	96.04%	96.49%	-
Net Margin	-36.68%	34.09%	80.82%	33.17%	11.32%	16.1%	11.31%	11.35%	24.04%	33.73%
Debt / Equity	2.12x	0.05x	0.01x	0.03x	0.03x	0.02x	0.08x	0.08x	0.09x	0.08x
Interest Coverage	-0.85x	19.12x	-	-	-	-	-	-	-	-
FCF Conversion	-2.94x	1.07x	0.60x	1.64x	1.87x	1.73x	1.99x	1.60x	1.34x	1.13x
Revenue Growth	415.05%	136.34%	88.7%	13.35%	2.04%	45.31%	12.27%	13.6%	18.49%	6.98%

US Stock Screener

...

Exelixis, Inc. (EXEL) 10-Year Financial Performance & Capital Metrics

EXEL •

HealthcareBiotechnologyOncology Therapeutics Developers

Revenue $2.32B +7.0%
EBITDA $872M +37.7%
Net Income $783M +50.1%
EPS (Diluted) 2.78 +58.0%
Gross Margin -
EBITDA Margin 37.59% +28.7%
Operating Margin 37.59% +34.8%
Net Margin 33.73% +40.3%
ROE 35.53% +53.6%
ROIC 32.15% +56.3%
Debt/Equity 0.08 -5.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 22.5%
✓Strong 5Y profit CAGR of 47.6%
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 38.1% free cash flow margin
✓Strong 5Y sales CAGR of 18.6%

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y51.19%

5Y18.63%

3Y12.93%

TTM9.93%

Profit (Net Income) CAGR

10Y-

5Y47.58%

3Y62.53%

TTM45.18%

EPS CAGR

10Y-

5Y51.35%

3Y70.59%

TTM51.92%

ROCE

10Y Avg19.33%

5Y Avg17.37%

3Y Avg21.74%

Latest35.01%

Peer Comparison

Oncology Therapeutics Developers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EXELExelixis, Inc.	11.81B	44.06	15.85	6.98%	29.63%	31.37%	7.49%	0.08
INCYIncyte Corporation	20.1B	101.27	15.80	21.22%	25.03%	24.9%	6.74%	0.01
GMABGenmab A/S	18.13B	29.44	15.36	30.67%	46.8%	114.25%	6.6%	0.03
SNDXSyndax Pharmaceuticals, Inc.	1.89B	21.71	-5.82		-279.31%	-269.93%		1.20
RCUSArcus Biosciences, Inc.	2.55B	20.37	-6.19	-4.26%	-142.91%	-55.94%		0.16
RLAYRelay Therapeutics, Inc.	1.78B	10.26	-6.37	53.44%	-18.01%	-48.76%		0.06
STROSutro Biopharma, Inc.	1.74B	20.47	-6.92	-59.64%	-205.18%	-234.19%		4.57
OLMAOlema Pharmaceuticals, Inc.	1.66B	24.20	-11			-48.77%		0.00

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Jan 2025	Jan 2026
Sales/Revenue+	191.45M	452.48M	853.83M	967.77M	987.54M	1.43B	1.61B	1.83B	2.17B	2.32B
Revenue Growth %	415.05%	136.34%	88.7%	13.35%	2.04%	45.31%	12.27%	13.6%	18.49%	6.98%
Cost of Goods Sold+	6.55M	15.07M	26.35M	33.1M	36.27M	52.87M	57.91M	72.55M	76.22M	0
COGS % of Revenue	3.42%	3.33%	3.09%	3.42%	3.67%	3.68%	3.59%	3.96%	3.51%	-
Gross Profit+	184.9M	437.41M	827.48M	934.68M	951.27M	1.38B	1.55B	1.76B	2.09B	0
Gross Margin %	96.58%	96.67%	96.91%	96.58%	96.33%	96.32%	96.41%	96.04%	96.49%	-
Gross Profit Growth %	455.64%	136.56%	89.18%	12.96%	1.77%	45.29%	12.38%	13.17%	19.05%	-100%
Operating Expenses+	212.11M	271.53M	388.62M	565.21M	841.21M	1.1B	1.35B	1.59B	1.49B	1.45B
OpEx % of Revenue	110.79%	60.01%	45.52%	58.4%	85.18%	76.34%	83.9%	86.7%	68.61%	62.41%
Selling, General & Admin	116.14M	159.33M	206.37M	228.24M	293.36M	401.71M	459.86M	542.71M	492.13M	518.73M
SG&A % of Revenue	60.66%	35.21%	24.17%	23.58%	29.71%	27.99%	28.54%	29.65%	22.69%	22.36%
Research & Development	95.97M	112.17M	182.26M	336.96M	547.85M	693.72M	891.81M	1.04B	910.41M	825M
R&D % of Revenue	50.13%	24.79%	21.35%	34.82%	55.48%	48.34%	55.36%	57.05%	41.98%	35.56%
Other Operating Expenses	0	0	397K	680K	912K	-184K	-197K	0	85.33M	104.21M
Operating Income+	-28.12M	165.91M	438.86M	369.47M	110.06M	286.67M	201.48M	170.88M	604.62M	872.19M
Operating Margin %	-14.69%	36.67%	51.4%	38.18%	11.14%	19.98%	12.51%	9.34%	27.88%	37.59%
Operating Income Growth %	76.84%	689.92%	164.51%	-15.81%	-70.21%	160.46%	-29.71%	-15.19%	253.82%	44.26%
EBITDA+	-27.12M	167.1M	443.77M	380.64M	119.2M	300.3M	222.36M	196.6M	633.42M	872.19M
EBITDA Margin %	-14.17%	36.93%	51.97%	39.33%	12.07%	20.93%	13.8%	10.74%	29.21%	37.59%
EBITDA Growth %	77.4%	716.09%	165.58%	-14.23%	-68.68%	151.92%	-25.95%	-11.58%	222.18%	37.7%
D&A (Non-Cash Add-back)	1M	1.19M	4.92M	11.17M	9.14M	13.63M	20.88M	25.72M	28.8M	0
EBIT	-37.16M	167.11M	438.86M	398.11M	110.06M	286.67M	201.48M	170.88M	689.95M	0
Net Interest Income+	-30.48M	-3.8M	12.84M	27.96M	19.86M	7.67M	33.06M	86.54M	77.16M	0
Interest Income	2.58M	4.88M	12.84M	27.96M	19.86M	7.67M	33.06M	86.54M	77.16M	69.21M
Interest Expense	33.06M	8.68M	0	0	0	0	0	0	0	0
Other Income/Expense	-42.1M	-7.33M	13.24M	28.64M	20.78M	7.49M	32.87M	86.64M	77.02M	69.02M
Pretax Income+	-70.22M	158.58M	452.09M	398.11M	130.84M	294.15M	234.35M	257.52M	681.64M	941.21M
Pretax Margin %	-36.68%	35.05%	52.95%	41.14%	13.25%	20.5%	14.55%	14.07%	31.43%	40.57%
Income Tax+	0	4.35M	-237.98M	77.1M	19.06M	63.09M	52.07M	49.76M	160.37M	158.64M
Effective Tax Rate %	100%	97.26%	152.64%	80.63%	85.44%	78.55%	77.78%	80.68%	76.47%	83.15%
Net Income+	-70.22M	154.23M	690.07M	321.01M	111.78M	231.06M	182.28M	207.76M	521.27M	782.57M
Net Margin %	-36.68%	34.09%	80.82%	33.17%	11.32%	16.1%	11.31%	11.35%	24.04%	33.73%
Net Income Growth %	58.63%	319.63%	347.44%	-53.48%	-65.18%	106.71%	-21.11%	13.98%	150.89%	50.13%
Net Income (Continuing)	-70.22M	154.23M	690.07M	321.01M	111.78M	231.06M	182.28M	207.76M	521.27M	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.28	0.49	2.21	1.02	0.35	0.72	0.56	0.65	1.76	2.78
EPS Growth %	65.43%	275%	351.02%	-53.85%	-65.69%	105.71%	-22.22%	16.07%	170.77%	57.95%
EPS (Basic)	-0.28	0.52	2.32	1.06	0.36	0.73	0.57	0.65	1.80	2.88
Diluted Shares Outstanding	250.53M	312M	312.8M	315.01M	318M	322.36M	324.56M	321.46M	296.13M	281.86M
Basic Shares Outstanding	250.53M	293.59M	297.89M	302.58M	308.27M	314.88M	321.53M	318.15M	290.03M	271.57M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Jan 2025	Jan 2026
Total Current Assets+	470.8M	484.87M	897.02M	1.01B	1.45B	1.83B	1.62B	1.32B	1.47B	1.44B
Cash & Short-Term Investments	419.8M	387.77M	693.33M	852.24M	1.21B	1.47B	1.31B	995.3M	1.11B	1.06B
Cash Only	151.69M	183.16M	314.77M	266.5M	319.22M	647.17M	501.19M	262.99M	217.37M	482.49M
Short-Term Investments	268.12M	204.61M	378.56M	585.74M	887.32M	819.9M	807.27M	732.31M	893.9M	576.6M
Accounts Receivable	40.44M	81.19M	162.77M	119.07M	160.88M	282.65M	214.78M	237.41M	265.44M	286.92M
Days Sales Outstanding	77.11	65.5	69.58	44.91	59.46	71.9	48.66	47.35	44.67	45.14
Inventory	3.34M	6.66M	9.84M	12.89M	20.97M	27.49M	33.3M	17.32M	22.39M	21.69M
Days Inventory Outstanding	185.95	161.28	136.29	142.11	211.05	189.79	209.88	87.16	107.22	-
Other Current Assets	0	504K	0	0	0	0	62.21M	67.93M	68.48M	75.6M
Total Non-Current Assets+	126.74M	170.42M	525.27M	874.48M	691.94M	781.49M	1.45B	1.62B	1.48B	1.4B
Property, Plant & Equipment	2.07M	25.74M	56.76M	90.73M	67.38M	104.03M	345.44M	470.85M	359.11M	441.26M
Fixed Asset Turnover	92.45x	17.58x	15.04x	10.67x	14.66x	13.79x	4.66x	3.89x	6.04x	5.26x
Goodwill	63.68M	63.68M	63.68M	63.68M	63.68M	63.68M	63.68M	63.68M	63.68M	63.68M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	55.6M	64.25M	157.19M	536.38M	332.31M	371.11M	756.73M	728.72M	637.29M	0
Other Non-Current Assets	5.38M	16.74M	3.52M	11.31M	71.85M	131M	55.77M	0	0	603.6M
Total Assets+	597.54M	655.29M	1.42B	1.89B	2.14B	2.62B	3.07B	2.94B	2.95B	2.84B
Asset Turnover	0.32x	0.69x	0.60x	0.51x	0.46x	0.55x	0.52x	0.62x	0.74x	0.82x
Asset Growth %	79.8%	9.67%	117.05%	32.58%	13.35%	22.41%	17.4%	-4.2%	0.18%	-3.5%
Total Current Liabilities+	270.59M	115.17M	105.47M	142.75M	204.66M	337.59M	324.36M	394.28M	403.77M	405.64M
Accounts Payable	6.57M	9.57M	10.9M	11.58M	23.63M	24.26M	32.67M	33.77M	38.19M	29.62M
Days Payables Outstanding	365.72	231.97	151.01	127.72	237.81	167.46	205.9	169.89	182.9	-
Short-Term Debt	189.12M	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	19.66M	31.98M	15.9M	6.6M	1.79M	7.81M	7.49M	0	0	0
Other Current Liabilities	33.1M	52.54M	3.19M	15.13M	42.66M	45.55M	71.44M	82.12M	267.22M	405.64M
Current Ratio	1.74x	4.21x	8.50x	7.08x	7.06x	5.43x	4.99x	3.34x	3.63x	3.56x
Quick Ratio	1.73x	4.15x	8.41x	6.99x	6.96x	5.35x	4.89x	3.30x	3.58x	3.50x
Cash Conversion Cycle	-102.67	-5.2	54.86	59.3	32.7	94.23	52.64	-35.39	-31.01	-
Total Non-Current Liabilities+	237.63M	255.16M	29.36M	56.95M	53.56M	68.03M	258.7M	284.17M	299.72M	277.46M
Long-Term Debt	0	0	0	0	0	0	0	0	0	173.04M
Capital Lease Obligations	0	14.53M	12.18M	48.01M	49.09M	51.27M	190.17M	189.94M	190.82M	0
Deferred Tax Liabilities	0	-14.53M	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	541K	16.64M	1.29M	2.35M	721K	8.02M	61.95M	94.22M	108.89M	104.42M
Total Liabilities	508.22M	370.33M	134.83M	199.7M	258.22M	405.62M	583.06M	678.45M	703.49M	683.1M
Total Debt+	189.12M	14.53M	14.92M	50.74M	49.09M	51.27M	190.17M	189.94M	190.82M	173.04M
Net Debt	37.44M	-168.63M	-299.86M	-215.76M	-270.13M	-595.9M	-311.02M	-73.05M	-26.55M	-309.45M
Debt / Equity	2.12x	0.05x	0.01x	0.03x	0.03x	0.02x	0.08x	0.08x	0.09x	0.08x
Debt / EBITDA	-	0.09x	0.03x	0.13x	0.41x	0.17x	0.86x	0.97x	0.30x	0.20x
Net Debt / EBITDA	-	-1.01x	-0.68x	-0.57x	-2.27x	-1.98x	-1.40x	-0.37x	-0.04x	-0.35x
Interest Coverage	-0.85x	19.12x	-	-	-	-	-	-	-	-
Total Equity+	89.32M	284.96M	1.29B	1.69B	1.88B	2.21B	2.49B	2.26B	2.24B	2.16B
Equity Growth %	185.63%	219.04%	351.8%	30.95%	11.46%	17.64%	12.57%	-9.02%	-0.87%	-3.69%
Book Value per Share	0.36	0.91	4.12	5.35	5.91	6.86	7.67	7.04	7.58	7.67
Total Shareholders' Equity	89.32M	284.96M	1.29B	1.69B	1.88B	2.21B	2.49B	2.26B	2.24B	2.16B
Common Stock	290K	296K	300K	305K	312K	319K	324K	303K	282K	262K
Retained Earnings	-1.98B	-1.83B	-880.36M	-559.35M	-447.57M	-216.51M	-34.23M	-173.35M	-98.65M	-76.83M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-416K	-347K	-701K	3.07M	4.48M	-758K	-14.52M	-3.75M	-1.35M	3.48M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Jan 2025	Jan 2026
Cash from Operations+	206.3M	165.61M	415.72M	526.96M	208.98M	400.8M	362.61M	333.32M	699.97M	884.27M
Operating CF Margin %	107.75%	36.6%	48.69%	54.45%	21.16%	27.93%	22.51%	18.21%	32.28%	38.11%
Operating CF Growth %	245.7%	-19.72%	151.02%	26.76%	-60.34%	91.79%	-9.53%	-8.08%	110%	26.33%
Net Income	-70.22M	154.23M	690.07M	321.01M	111.78M	231.06M	182.28M	207.76M	521.27M	782.57M
Depreciation & Amortization	1M	1.19M	7.77M	8.35M	9.14M	13.63M	20.88M	25.72M	28.8M	29.05M
Stock-Based Compensation	22.91M	23.94M	44.32M	56.6M	105.07M	119.82M	107.57M	106.34M	93.84M	112.98M
Deferred Taxes	11.41M	3.26M	-244.11M	71M	15.27M	46.53M	-60.36M	-133.21M	-59.46M	126.24M
Other Non-Cash Items	13.93M	-10.05M	-2.57M	2.91M	7.87M	28.77M	125.04M	140.68M	128.98M	-166.58M
Working Capital Changes	227.27M	-6.95M	-79.76M	67.08M	-40.14M	-39.01M	-12.8M	-13.97M	-13.45M	0
Change in Receivables	-37M	-40.84M	-85.47M	43.72M	-42.47M	-122.32M	66.85M	-22.62M	-27.95M	-21.4M
Change in Inventory	-722K	-3.32M	-3.18M	-5.73M	-21.9M	-13.21M	-11.68M	-12.98M	5.45M	12.22M
Change in Payables	164K	3.01M	856K	39.69M	50.51M	55.09M	23.36M	53.25M	-21.89M	-50.15M
Cash from Investing+	-216.05M	35.8M	-297.85M	-587.25M	-131.22M	-42.88M	-524.41M	-26.95M	-116.78M	350.44M
Capital Expenditures	-1.7M	-21.14M	-33.3M	-12.83M	-30.34M	-54.23M	-27.71M	-40.47M	-28.43M	0
CapEx % of Revenue	0.89%	4.67%	3.9%	1.33%	3.07%	3.78%	1.72%	2.21%	1.31%	-
Acquisitions	2.49M	164K	308K	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.4M	-1M	308K	0	0	-10M	-110.75M	-122.5M	-37.75M	-61.75M
Cash from Financing+	19.8M	-169.93M	9.69M	12.55M	-25.13M	-14.8M	586K	-546.05M	-628.81M	-969.59M
Debt Issued (Net)	-7.71M	-185.79M	-13K	0	0	0	0	0	0	0
Equity Issued (Net)	0	0	0	0	0	0	0	-1000K	-1000K	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-4.11M	-6.56M	-7.57M	0	0	0	0	-550.38M	-652.03M	-947.51M
Other Financing	23.41M	15.86M	9.7M	12.55M	-25.13M	-14.8M	586K	4.33M	23.23M	-969.59M
Net Change in Cash	10.05M	31.48M	127.56M	-47.74M	52.63M	343.12M	-161.21M	-239.68M	-45.62M	265.11M
Free Cash Flow+	204.59M	144.47M	382.42M	514.12M	178.64M	336.58M	224.16M	170.35M	633.79M	884.27M
FCF Margin %	106.86%	31.93%	44.79%	53.12%	18.09%	23.46%	13.91%	9.31%	29.22%	38.11%
FCF Growth %	244.05%	-29.39%	164.71%	34.44%	-65.25%	88.42%	-33.4%	-24%	272.04%	39.52%
FCF per Share	0.82	0.46	1.22	1.63	0.56	1.04	0.69	0.53	2.14	3.14
FCF Conversion (FCF/Net Income)	-2.94x	1.07x	0.60x	1.64x	1.87x	1.73x	1.99x	1.60x	1.34x	1.13x
Interest Paid	21.04M	20.46M	0	0	0	0	0	0	0	0
Taxes Paid	190K	538K	10.68M	7.87M	4.12M	12.96M	127.87M	185.66M	170.48M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-78.62%	82.41%	87.77%	21.59%	6.27%	11.3%	7.76%	8.74%	23.13%	35.53%
Return on Invested Capital (ROIC)	-16.09%	102.38%	59.63%	22.55%	5.36%	13.34%	7.97%	5.87%	20.57%	32.15%
Gross Margin	96.58%	96.67%	96.91%	96.58%	96.33%	96.32%	96.41%	96.04%	96.49%	-
Net Margin	-36.68%	34.09%	80.82%	33.17%	11.32%	16.1%	11.31%	11.35%	24.04%	33.73%
Debt / Equity	2.12x	0.05x	0.01x	0.03x	0.03x	0.02x	0.08x	0.08x	0.09x	0.08x
Interest Coverage	-0.85x	19.12x	-	-	-	-	-	-	-	-
FCF Conversion	-2.94x	1.07x	0.60x	1.64x	1.87x	1.73x	1.99x	1.60x	1.34x	1.13x
Revenue Growth	415.05%	136.34%	88.7%	13.35%	2.04%	45.31%	12.27%	13.6%	18.49%	6.98%

Exelixis, Inc. (EXEL) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare EXEL vs Peers

vs RVMD

vs INCY

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Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

Exelixis, Inc. (EXEL) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare EXEL vs Peers

vs RVMD

vs INCY

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios