Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing EXAS more generously than it does today.
Analysis OverviewBuyUpdated Jun 18, 2026
Exact Sciences Corporation (EXAS) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
41
analysts
22 bullish · 2 bearish · 41 covering EXAS
Strong Buy
0
Buy
22
Hold
17
Sell
2
Strong Sell
0
Consensus Target
$105
+0.1% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
41
Published analyst ratings
Valuation Context
582.8x
Forward P/E · Market cap $20.0B
EXAS price targets
Three scenarios for where EXAS stock could go
Current
~$105
Confidence
53 / 100
Updated
Jun 18, 2026
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Exact Sciences Corporation
EXAS · NASDAQHealthcareMedical - Diagnostics & ResearchDecember year-end
Exact Sciences is a cancer diagnostics company that develops and commercializes non-invasive screening tests for early cancer detection. It generates revenue primarily from its Cologuard colorectal cancer screening test — which accounts for the majority of sales — and its Oncotype DX genomic tests for breast, prostate, and colon cancers. The company's moat lies in its proprietary DNA biomarker technology and its exclusive licensing agreements with major research institutions like the Mayo Clinic.
Market Cap
$20.0B
Revenue TTM
$3.2B
Net Income TTM
-$208M
Net Margin
-6.4%
EXAS Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
75%Exceptional
12 quarters tracked
Revenue Beat Rate
92%Exceptional
vs consensus estimates
Avg EPS Surprise
+147.3%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 3 of 4Q2 2025
EPS
$-0.21/$-0.37
Revenue
$707M/$689M
Q3 2025
EPS
$0.22/$-0.02
Revenue
$811M/$810M
Q4 2025
EPS
$0.24/$-0.06
Revenue
$851M/$811M
Q1 2026
EPS
$-0.45/$-0.11
Revenue
$878M/$861M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $-0.21/$-0.37 | +43.2% | $707M/$689M | +2.6% |
| Q3 2025 | $0.22/$-0.02 | +1200.0% | $811M/$810M | +0.1% |
| Q4 2025 | $0.24/$-0.06 | +492.0% | $851M/$811M | +5.0% |
| Q1 2026 | $-0.45/$-0.11 | -316.9% | $878M/$861M | +2.0% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$3.7B
+12.5% YoY
FY2
$4.1B
+11.4% YoY
EPS Outlook
FY1
$-1.81
-64.9% YoY
FY2
$-2.46
-36.3% YoY
Trailing FCF (TTM)$357M
FCF Margin: 11.0%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
EXAS beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
EXAS Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $3.2B
Product Mix
Latest annual revenue by segment or product family
Screening
77.9%
+20.2% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
93.1%
+17.6% YoY
Tap, hover, or focus a slice to inspect segment detail.
Screening is the largest disclosed segment at 77.9% of FY 2025 revenue, up 20.2% YoY.
UNITED STATES is the largest reported region at 93.1%, up 17.6% YoY.
EXAS Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Expensive versus peers
Fair value est. $27 — implies -74.4% from today's price.
Premium to Fair Value
74.4%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
EXAS
-95.4x
vs
S&P 500
24.4x
490% discount
vs Healthcare Trailing P/E
EXAS
-95.4x
vs
Healthcare
22.1x
531% discount
vs EXAS 5Y Avg P/E
Today
-95.4x
vs
5Y Average
—
Benchmark unavailable
Forward PE
582.8x
S&P 500
18.8x
+2998%
Healthcare
18.3x
+3085%
5Y Avg
—
—
Trailing PE
-95.4x
S&P 500
24.4x
-490%
Healthcare
22.1x
-531%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.66x
—
Healthcare
1.59x
—
5Y Avg
—
—
EV/EBITDA
—
S&P 500
15.2x
—
Healthcare
14.2x
—
5Y Avg
—
—
Price/FCF
56.1x
S&P 500
20.7x
+171%
Healthcare
18.5x
+203%
5Y Avg
96.3x
-42%
Price/Sales
6.2x
S&P 500
3.1x
+99%
Healthcare
2.6x
+134%
5Y Avg
5.3x
+15%
Dividend Yield
—
S&P 500
1.91%
—
Healthcare
1.50%
—
5Y Avg
—
—
| Metric | EXAS | S&P 500 | Healthcare | 5Y Avg EXAS |
|---|---|---|---|---|
| Forward PE | 582.8x | 18.8x+2998% | 18.3x+3085% | — |
| Trailing PE | -95.4x | 24.4x-490% | 22.1x-531% | — |
| PEG Ratio | — | 1.66x | 1.59x | — |
| EV/EBITDA | — | 15.2x | 14.2x | — |
| Price/FCF | 56.1x | 20.7x+171% | 18.5x+203% | 96.3x-42% |
| Price/Sales | 6.2x | 3.1x+99% | 2.6x+134% | 5.3x+15% |
| Dividend Yield | — | 1.91% | 1.50% | — |
EXAS trades above S&P 500 benchmarks on 3 of 4 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolEXAS Financial Health
Verdict
Stressed
EXAS generates $357M in free cash flow at a 11.0% margin.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$3.2B
Revenue Growth
TTM vs prior year
+17.7%
Gross Margin
Gross profit as a share of revenue
69.7%
Operating Margin
Operating income divided by revenue
-6.4%
Net Margin
Net income divided by revenue
-6.4%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$-1.10
Free Cash Flow (TTM)
Cash generation after capex
$357M
FCF Margin
FCF as share of revenue — the primary cash quality signal
11.0%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
-3.6%
ROA
Return on assets, trailing twelve months
-3.5%
Cash & Equivalents
Liquid assets on the balance sheet
$956M
Net Debt
Total debt minus cash
$1.6B
Debt Serviceability
Net debt as a multiple of annual free cash flow
4.4× FCF
~4.4 years to full repayment at current FCF run-rate
ROE *
Return on equity, trailing twelve months
-8.7%
* Elevated by buyback-compressed equity — compare ROIC (-3.6%) for an undistorted picture of capital efficiency.
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.1%
Dividend
—
Buyback
0.1%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$27M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
191M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt). ROE marked * where buyback-compressed equity base may inflate the figure.
Open full ratios pageEXAS Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 18, 2026
High Risk
Merger Uncertainty
The pending Abbott merger creates operational risks, including potential loss of key personnel and disruption of customer/supplier relationships.
High Risk
Cash Flow Challenges
Negative average free cash flow margin over the past five years due to heavy reinvestments raises sustainability concerns.
Medium
Valuation Concerns
Flat price target projections ($88.25) and mixed long-term returns (109% 1Y vs. 30% 5Y decline) suggest potential overvaluation or stagnation.
Medium
Operational Execution
Disclosure of 53 risk factors in recent earnings highlights broad operational vulnerabilities across the business.
Lower
Market Sentiment
Analyst ratings and forecasts remain highly sensitive to market conditions and earnings volatility.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why EXAS Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 18, 2026
Walgreens partnership expansion
Exact Sciences' collaboration with Walgreens integrates Cologuard into pharmacy workflows, increasing accessibility for average-risk customers.
Cologuard adoption growth
The FDA-approved at-home colorectal cancer screening test is being promoted through nationwide initiatives, driving potential market penetration.
Pharmacy-led care integration
Pharmacist-led services for Cologuard requests aim to close care gaps, enhancing patient engagement and test utilization.
Regulatory and data milestones
New data highlights and regulatory approvals for Cologuard reinforce its clinical value and commercial potential.
Investor reporting transparency
Detailed SEC filings (e.g., 10-K) provide clear financial and operational insights, supporting investor confidence.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
EXAS Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$104.91
52W Range Position
100%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$38.81
+170.3% from the low
52-Week High
$104.98
-0.1% from the high
1 Month
—
3 Month
+1.12%
YTD
+3.1%
1 Year
+100.4%
3Y CAGR
+3.6%
5Y CAGR
-3.7%
10Y CAGR
+25.5%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
EXAS vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
582.8x
vs 18.1x median
+3112% above peer median
Revenue Growth
+12.5%
vs +9.3% median
+34% above peer median
Net Margin
-6.4%
vs 6.7% median
-196% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
EXA EXAS Exact Sciences Corporation | $20.0B | 582.8x | +12.5% | -6.4% | Buy | +0.1% |
GH GH Guardant Health, Inc. | $17.5B | — | +16.7% | -40.1% | Buy | +11.5% |
NTR NTRA Natera, Inc. | $33.1B | — | +11.9% | -9.0% | Buy | +12.3% |
ILM ILMN Illumina, Inc. | $24.6B | 31.0x | +9.3% | 19.4% | Buy | -6.5% |
LH LH Labcorp Holdings Inc. | $21.1B | 14.2x | +5.8% | 6.7% | Buy | +21.7% |
DGX DGX Quest Diagnostics Incorporated | $21.6B | 18.1x | +6.4% | 9.1% | Hold | +13.1% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
EXAS Dividend and Capital Return
EXAS returns 0.1% annually — null% through dividends and 0.1% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.1%
Dividend + buyback return per year
Buyback Yield
0.1%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$27M
Estimated Shares Retired
253.0K
Approx. Share Reduction
0.1%
Shares Outstanding
Current diluted share count from the screening snapshot
191M
FAQ
7 questionsEXAS Investor Questions
Common questions answered from live analyst data and company financials.
01Is Exact Sciences Corporation (EXAS) stock a buy or sell in 2026?
Exact Sciences Corporation (EXAS) is rated Buy by Wall Street analysts as of 2026. Of 41 analysts covering the stock, 22 rate it Buy or Strong Buy, 17 rate it Hold, and 2 rate it Sell or Strong Sell. The consensus 12-month price target is $105, implying +0.1% from the current price of $105.
02What is the EXAS stock price target for 2026?
The Wall Street consensus price target for EXAS is $105 based on 41 analyst estimates. The high-end target is $105 (+0.1% from today), and the low-end target is $105 (+0.1%).
03Is Exact Sciences Corporation (EXAS) stock overvalued in 2026?
EXAS trades at 582.8x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Exact Sciences Corporation (EXAS) stock in 2026?
The primary risks for EXAS in 2026 are: (1) Merger Uncertainty — The pending Abbott merger creates operational risks, including potential loss of key personnel and disruption of customer/supplier relationships. (2) Cash Flow Challenges — Negative average free cash flow margin over the past five years due to heavy reinvestments raises sustainability concerns. (3) Valuation Concerns — Flat price target projections ($88. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Exact Sciences Corporation's revenue and earnings forecast?
Analyst consensus estimates EXAS will report consensus revenue of $3.7B (+12.5% year-over-year) and EPS of $-1.81 (-64.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $4.1B in revenue.
06When does Exact Sciences Corporation (EXAS) report its next earnings?
A confirmed upcoming earnings date for EXAS is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Exact Sciences Corporation generate?
Exact Sciences Corporation (EXAS) generated $357M in free cash flow over the trailing twelve months — a free cash flow margin of 11.0%. EXAS returns capital to shareholders through and share repurchases ($27M TTM).