Exelixis, Inc. (EXEL) Financial Ratios
27 years of historical data (1999–2025) · Healthcare · Biotechnology
EV/EBITDA
↓
12.68
↓-41% vs avg
5yr avg: 21.53
30Y Low7.5·High55.8
P/FCF
↓
13.90
↓-40% vs avg
5yr avg: 23.28
30Y Low10.8·High65.7
P/B Ratio
↑
6.03
↑+64% vs avg
5yr avg: 3.67
30Y Low2.1·High41.8
ROE
↑
35.5%
↓+105% vs avg
5yr avg: 17.3%
30Y Low-156%·High88%
Debt/EBITDA
↑
0.19
↓-61% vs avg
5yr avg: 0.50
30Y Low0.0·High1.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
EXEL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Exelixis, Inc. trades at 16.6x earnings, 34% below its 5-year average of 25.2x, sitting at the 30th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.3x, the stock trades at a discount of 26%. On a free-cash-flow basis, the stock trades at 13.9x P/FCF, 40% below the 5-year average of 23.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $11.7B | $12.3B | $10.1B | $7.7B | $5.2B | $5.9B | $6.4B | $5.6B | $6.2B | $9.5B | $3.7B |
| Enterprise Value | $11.4B | $12.0B | $10.0B | $7.6B | $4.9B | $5.3B | $6.1B | $5.3B | $5.9B | $9.3B | $3.8B |
| P/E Ratio → | 16.62 | 15.68 | 19.30 | 36.91 | 28.64 | 25.39 | 57.34 | 17.27 | 8.90 | 62.04 | — |
| P/S Ratio | 5.06 | 5.29 | 4.64 | 4.21 | 3.23 | 4.11 | 6.46 | 5.74 | 7.21 | 20.96 | 19.51 |
| P/B Ratio | 6.03 | 5.68 | 4.48 | 3.41 | 2.09 | 2.67 | 3.40 | 3.29 | 4.78 | 33.28 | 41.82 |
| P/FCF | 13.90 | 14.55 | 15.87 | 45.27 | 23.22 | 17.51 | 35.73 | 10.80 | 16.09 | 65.65 | 18.26 |
| P/OCF | 13.27 | 13.89 | 14.37 | 23.14 | 14.36 | 14.70 | 30.54 | 10.53 | 14.80 | 57.27 | 18.11 |
P/E links to full P/E history page with 30-year chart
EXEL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Exelixis, Inc.'s enterprise value stands at 12.7x EBITDA, 41% below its 5-year average of 21.5x. The Healthcare sector median is 14.4x, placing the stock at a 12% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.16 | 4.63 | 4.17 | 3.04 | 3.69 | 6.19 | 5.51 | 6.85 | 20.59 | 19.71 |
| EV / EBITDA | 12.68 | 13.29 | 15.84 | 38.85 | 22.01 | 17.64 | 51.28 | 14.02 | 13.19 | 55.75 | — |
| EV / EBIT | 13.10 | 13.41 | 14.54 | 44.70 | 24.29 | 18.48 | 55.53 | 13.40 | 13.34 | 55.75 | — |
| EV / FCF | — | 14.18 | 15.83 | 44.84 | 21.84 | 15.74 | 34.22 | 10.38 | 15.30 | 64.49 | 18.44 |
EXEL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Exelixis, Inc. earns an operating margin of 37.6%. Operating margins have expanded from 9.3% to 37.6% over the past 3 years, signaling improving operational efficiency. Return on equity of 35.5% is exceptionally high. ROIC of 32.1% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.4% | 96.4% | 96.5% | 96.0% | 96.4% | 96.3% | 96.3% | 96.6% | 96.9% | 96.7% | 96.6% |
| Operating Margin | 37.6% | 37.6% | 27.9% | 9.3% | 12.5% | 20.0% | 11.1% | 38.2% | 51.4% | 36.7% | -14.7% |
| Net Profit Margin | 33.7% | 33.7% | 24.0% | 11.4% | 11.3% | 16.1% | 11.3% | 33.2% | 80.8% | 34.1% | -36.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 35.5% | 35.5% | 23.1% | 8.7% | 7.8% | 11.3% | 6.3% | 21.6% | 87.8% | 82.4% | -78.6% |
| ROA | 27.0% | 27.0% | 17.7% | 6.9% | 6.4% | 9.7% | 5.6% | 19.4% | 66.4% | 24.6% | -15.1% |
| ROIC | 32.1% | 32.1% | 20.6% | 5.9% | 8.0% | 13.3% | 5.4% | 22.5% | 59.6% | 102.4% | -16.1% |
| ROCE | 35.0% | 35.0% | 23.7% | 6.5% | 8.0% | 13.6% | 6.0% | 24.2% | 47.3% | 38.3% | -9.3% |
EXEL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Exelixis, Inc. carries a Debt/EBITDA ratio of 0.2x, which is very conservative (94% below the sector average of 3.3x). The company holds a net cash position — cash of $482M exceeds total debt of $173M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.08 | 0.08 | 0.09 | 0.08 | 0.08 | 0.02 | 0.03 | 0.03 | 0.01 | 0.05 | 2.12 |
| Debt / EBITDA | 0.19 | 0.19 | 0.30 | 0.97 | 0.86 | 0.17 | 0.41 | 0.13 | 0.03 | 0.09 | — |
| Net Debt / Equity | — | -0.14 | -0.01 | -0.03 | -0.12 | -0.27 | -0.14 | -0.13 | -0.23 | -0.59 | 0.42 |
| Net Debt / EBITDA | -0.34 | -0.34 | -0.04 | -0.37 | -1.40 | -1.98 | -2.27 | -0.57 | -0.68 | -1.01 | — |
| Debt / FCF | — | -0.37 | -0.04 | -0.43 | -1.39 | -1.77 | -1.51 | -0.42 | -0.78 | -1.17 | 0.18 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | 19.25 | -1.12 |
Net cash position: cash ($482M) exceeds total debt ($173M)
EXEL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Exelixis, Inc.'s current ratio of 3.56x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 3.34x to 3.56x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.56 | 3.56 | 3.63 | 3.34 | 4.99 | 5.43 | 7.06 | 7.08 | 8.50 | 4.21 | 1.74 |
| Quick Ratio | 3.50 | 3.50 | 3.58 | 3.30 | 4.89 | 5.35 | 6.96 | 6.99 | 8.41 | 4.15 | 1.73 |
| Cash Ratio | 2.61 | 2.61 | 2.75 | 2.52 | 4.03 | 4.35 | 5.90 | 5.97 | 6.57 | 3.37 | 1.55 |
| Asset Turnover | — | 0.82 | 0.74 | 0.62 | 0.52 | 0.55 | 0.46 | 0.51 | 0.60 | 0.69 | 0.32 |
| Inventory Turnover | 3.86 | 3.86 | 3.40 | 4.19 | 1.74 | 1.92 | 1.73 | 2.57 | 2.68 | 2.26 | 1.96 |
| Days Sales Outstanding | — | 45.14 | 44.67 | 47.35 | 48.66 | 71.90 | 59.46 | 44.91 | 69.58 | 65.50 | 77.11 |
EXEL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Exelixis, Inc. returns 8.1% to shareholders annually primarily through share buybacks. The earnings yield of 6.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 6.4% | 5.2% | 2.7% | 3.5% | 3.9% | 1.7% | 5.8% | 11.2% | 1.6% | — |
| FCF Yield | 7.2% | 6.9% | 6.3% | 2.2% | 4.3% | 5.7% | 2.8% | 9.3% | 6.2% | 1.5% | 5.5% |
| Buyback Yield | 8.1% | 7.7% | 6.5% | 7.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% |
| Total Shareholder Yield | 8.1% | 7.7% | 6.5% | 7.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% |
| Shares Outstanding | — | $282M | $296M | $321M | $325M | $322M | $318M | $315M | $313M | $312M | $251M |
Peer Comparison
Compare EXEL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 EXELYou | $12B | 16.6 | 12.7 | 13.9 | 96.4% | 37.6% | 35.5% | 32.1% | 0.2 |
 INCY | $20B | 15.3 | 11.5 | 14.4 | 91.5% | 26.1% | 29.9% | 51.1% | 0.0 |
 ALKS | $6B | 24.8 | 17.3 | 12.3 | 86.7% | 17.2% | 14.7% | 18.9% | 0.2 |
 JAZZ | $14B | -38.9 | 23.8 | 11.0 | 88.2% | 5.3% | -8.5% | 2.1% | 7.1 |
 IONS | $13B | -31.9 | — | — | 98.3% | -40.5% | -70.7% | -12.8% | — |
 HALO | $8B | 25.5 | 8.3 | 11.9 | 78.1% | 58.4% | 153.6% | 73.4% | — |
 ACAD | $4B | 9.9 | 26.9 | 36.7 | 91.7% | 9.8% | 39.9% | 10.0% | 0.4 |
 MRK | $277B | 15.4 | 10.7 | 22.4 | 72.0% | 36.2% | 36.9% | 22.0% | 1.7 |
 BMY | $115B | 16.3 | 9.2 | 8.9 | 67.6% | 26.3% | 40.4% | 16.9% | 2.8 |
 RGEN | $7B | 147.0 | 52.4 | 75.9 | 47.1% | 8.1% | 2.4% | 2.2% | 5.0 |
 RCUS | $2B | -7.5 | — | — | 96.0% | -156.3% | -63.3% | -64.1% | — |
| Healthcare Median | — | 22.3 | 14.4 | 18.5 | 63.9% | -5.2% | -33.7% | -11.2% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 27 years · Updated daily
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Start ComparisonEXEL — Frequently Asked Questions
Quick answers to the most common questions about buying EXEL stock.
What is Exelixis, Inc.'s P/E ratio?
Exelixis, Inc.'s current P/E ratio is 16.6x. The historical average is 28.0x. This places it at the 30th percentile of its historical range.
What is Exelixis, Inc.'s EV/EBITDA?
Exelixis, Inc.'s current EV/EBITDA is 12.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.9x.
What is Exelixis, Inc.'s ROE?
Exelixis, Inc.'s return on equity (ROE) is 35.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -31.9%.
Is EXEL stock overvalued?
Based on historical data, Exelixis, Inc. is trading at a P/E of 16.6x. This is at the 30th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Exelixis, Inc.'s profit margins?
Exelixis, Inc. has 96.4% gross margin and 37.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Exelixis, Inc. have?
Exelixis, Inc.'s Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.