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Stock research / United States / EXEL · Biological Products, (No Diagnostic Substances) · Nasdaq

Exelixis, Inc. (EXEL)

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Exelixis, Inc. (EXEL) reported revenue of $629 million for Q2 FY2026, the quarter ended 3 July 2026, up 10.6% on the same quarter a year earlier. Net income was $212 million, up 14.7% on the year, and diluted earnings per share $0.82. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue$629 millionup 10.6%
Net income$212 millionup 14.7%
Diluted EPS$0.82
QuarterQ2 FY2026ended 3 July 2026

Exelixis (EXEL) in brief

Exelixis (EXEL) reported revenue of $2.3 billion for fiscal 2025, the year ended 2 January 2026, up 7.0% on the year before.
Read moreNet income was $783 million and diluted earnings per share $2.78. Revenue was $2.2 billion in fiscal 2024, $1.8 billion in fiscal 2023, $1.6 billion in fiscal 2022 and $1.4 billion in fiscal 2021. Net income in the same years was $521 million, $208 million, $182 million and $231 million. Over the twelve months to 3 July 2026, Exelixis reported revenue of $2.4 billion and net income of $861 million. Revenue grew 18.6% a year, compounded, over the five years to fiscal 2025. Exelixis had 249 million shares outstanding at the latest filed count. At 3 July 2026 it carried $0 million of debt and $281 million of cash. At the close of 8 October 2026 the market cap of Exelixis was $14.7 billion, 18.6 times its earnings over the last twelve months.

Ratios

From the filings

ROE46.7%
ROCE52.7%
Operating margin39.9%
Net margin35.3%
FCF margin48.1%
Interest covern/a
Debt to equity0.00
Cash conversion1.38
Share count, 1 year-7.9%
Sales CAGR, 3 years12.9%
Profit CAGR, 3 years62.5%
EPS, TTM$3.18

At the close of 8 October 2026

Price$59.02
Market cap$14.7 billion
Stock P/E18.56
Price to book7.97
EV / EBITDA14.41
Dividend yieldn/a
Market cap / sales6.03
52-week high$59.13
52-week low$34.54
Price, 1 year52.7%
Price CAGR, 3 years40.0%
Price CAGR, 5 years22.2%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Exelixis, Inc.'s balance sheet shows no borrowings, so debt here is nil; lease liabilities are a separate line. Nothing here is a valuation or a view.
EXELgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on EXEL

Filings17 in twelve months: 9 current reports (8-K), about 5 other events; 5 results of operations; 2 officer or director change; 1 shareholder vote
Planned insider sales30 Form 144 notices in twelve months, $49.7 million; latest 10 August 2026
Options tapeput/call 2.87 by open interest at the 8 October 2026 close; the straddle prices a 5.2% move to 16 October 2026
13F holders8 of the followed funds hold it; largest Renaissance Technologies; 4 Schedule 13D or 13G filings in twelve months
Insider trading32 sales and 1 purchase on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest26.4 million shares short, 12.38 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue472480425637540567555568598599611629
Cost of revenue18.821.821.317.717.320.019.219.518.626.520.020.7
Gross profit453458404620522547536549579572591608
Gross margin96%95%95%97%97%96%97%97%97%96%97%97%
R&D333245228211223249212200199213200212
SG&A138131114132112134137135124123140148
Operating income-17.681.829.5276136163187214237235251248
Operating margin-4%17%7%43%25%29%34%38%40%39%41%40%
Net income1.085.537.3226118140160185194245210212
Net margin0%18%9%35%22%25%29%33%32%41%34%34%
Diluted EPS$0.00$0.27$0.12$0.77$0.40$0.48$0.55$0.65$0.69$0.88$0.79$0.82
Operating cash flow11710.668.812027124021149.0290334252308
Capital expenditure9.413.19.76.68.24.03.02.81.51.21.56.8
Free cash flow108-2.659.111326323620846.2289332250301
Buybacks21720918526411.9190284302104258430323
Shares outstanding311m303m295m285m286m282m275m270m268m262m254m249m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015FY2016FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue25.137.21914528549689881,4351,6111,8302,1692,3202,436
Cost of revenue2.03.96.615.126.333.136.352.957.972.576.283.785.7
Gross profit23.133.31854378279359511,3821,5531,7582,0922,2362,350
Gross margin91.9%89.5%96.6%96.7%96.9%96.6%96.3%96.3%96.4%96.0%96.5%96.4%96.5%
Research and development18996.496.01121823375486948921,044910825824
Selling, general and administrative50.857.3116159206228293402460543492519534
Operating income-224-121-28.1166439369110287201171605872972
Operating margin-893.9%-326.6%-14.7%36.7%51.4%38.2%11.1%20.0%12.5%9.3%27.9%37.6%39.9%
Interest expense41.440.733.18.70.00.0n/an/an/an/an/an/an/a
Pre-tax income-261-162-70.2159452398131n/an/an/an/an/an/a
Income tax-0.20.10.04.3-23877.119.163.152.149.8160159175
Effective tax raten/an/an/a2.7%-52.6%19.4%14.6%n/an/an/an/an/an/a
Net income-261-162-70.2154690321112231182208521783861
Net margin-1040.6%-435.1%-36.7%34.1%80.8%33.2%11.3%16.1%11.3%11.4%24.0%33.7%35.3%
Diluted EPS-$1.38-$0.77-$0.28$0.49$2.21$1.02$0.35$0.72$0.56$0.65$1.76$2.78$3.18
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service

FY2023FY2025FY2026Share
latest year
Net product revenues1,6291,8092,12391.5%
License revenues1793492149.2%
Collaboration services revenues22.710.1-17.1-0.7%
From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2025FY2026Share
latest year
United States1,6461,8232,14092.3%
Europe1453191546.6%
Japan39.527.125.61.1%
United StatesEuropeJapan
1,830FY20232,169FY20252,320FY2026

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015FY2016FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow-235-1412061664165272094013633337008841,183
Capital expenditure0.50.41.721.133.312.830.354.227.740.528.48.411.0
Free cash flow-236-1412051443825141793473352936728761,172
Free cash flow margin-939.3%-380.7%106.9%31.9%44.8%53.1%18.1%24.2%20.8%16.0%31.0%37.7%48.1%
Cash from investing14650.1-21636.8-298-587-131-42.9-524-27.0-11735093.0
Cash from financing65.515219.8-1709.712.6-25.1-14.80.6-546-629-970-1,159
Depreciation and amortisation2.41.41.01.24.98.39.113.620.925.728.829.128.3
Share-based compensation10.022.022.923.940.656.610512010810693.8113113
Buybacksn/an/an/an/an/an/an/a0.00.05506529481,115
Diluted shares, weightedn/a209mn/a312m313m315m318m322m325m321m296m282m260m
Shares outstanding at period end196mn/a290m296m300m305m312m319m324m303m282m262m249m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015FY2016FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity-159-14189.32851,2871,6861,8792,2112,4882,2642,2442,1611,844
Debt357n/a1890.0n/an/an/an/a0.00.00.00.00.0
Operating lease liabilitiesn/an/an/an/a12.148.049.151.3190190191173166
Finance lease liabilitiesn/an/an/a0.00.1n/an/an/an/an/an/an/an/a
Other liabilities126n/a319370123152209354393489513510485
Total liabilities and equity323n/a5986551,4221,8862,1372,6163,0712,9422,9482,8442,494
Owned
Fixed assets2.4n/a2.125.750.948.967.410411112911999.092.7
Goodwill63.7n/a63.763.763.763.763.763.763.763.763.763.763.7
Investments145n/a3242695371,1221,2181,1911,5641,4611,5311,1801,103
Cash and equivalents80.4142152183315267319647501263217482281
Receivables4.9n/a42.277.3163119161283215237265287322
Inventory2.4n/a3.36.79.812.921.027.533.317.322.421.728.7
Other assets24.0n/a10.829.9283253287300584771728710603
Total assets323n/a5986551,4221,8862,1372,6163,0712,9422,9482,8442,494
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded51.2%18.6%12.9%9.2%
Profit growth, compoundedn/a47.6%62.5%42.9%
Return on equity, average14.0%17.3%22.9%36.2%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Pharmaceutical Products

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Amgen Inc. AMGN$220.3 billion25.3274.8%30.0%9.1%4.901.8%
Gilead Sciences, Inc. GILD$182.6 billionn/a-27.4%-8.2%5.5%2.222.1%
Moderna, Inc. MRNA$78.6 billionn/a-46.6%-149.0%-27.6%0.09n/a
argenx SE ARGX *$50.7 billion41.8317.6%n/a89.9%0.00n/a
Biogen Inc. BIIB$32.2 billion38.664.4%10.1%0.3%0.39n/a
BioNTech SE BNTX *$23.1 billionn/a-5.9%-49.0%4.3%0.01n/a
Exelixis, Inc. EXEL$14.7 billion18.5646.7%39.9%9.2%0.00n/a
Neurocrine Biosciences Inc. NBIX$14.4 billion20.7119.1%23.6%34.4%0.00n/a
Halozyme Therapeutics, Inc. HALO$12.5 billion32.79288.1%35.9%41.2%13.50n/a
Bio-Techne Corp. TECH$11.3 billion63.008.6%20.7%-0.4%0.090.4%
Krystal Biotech, Inc. KRYS$9.7 billion41.0217.8%44.9%22.6%0.00n/a
Repligen Corp. RGEN$9.2 billion224.442.0%8.2%16.5%0.26n/a
All 42 in Pharmaceutical Products
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Eli Lilly & Co. LLY$1.10 trillion39.2578.8%n/a49.6%1.410.5%
Johnson & Johnson JNJ$618.1 billion29.7224.8%n/a8.1%0.442.0%
ABBVIE Inc. ABBV$481.4 billion76.95n/a26.2%10.4%n/a2.5%
Merck & Co., Inc. MRK$351.3 billion113.907.6%n/a4.6%1.292.3%
Novartis AG NVS *$273.1 billion20.0230.3%n/a8.4%0.622.9%
AstraZeneca PLC AZN *$246.3 billion24.2821.0%23.4%8.6%0.612.0%
Amgen Inc. AMGN$220.3 billion25.3274.8%30.0%9.1%4.901.8%
Gilead Sciences, Inc. GILD$182.6 billionn/a-27.4%-8.2%5.5%2.222.1%
Abbott Laboratories ABT$171.6 billion31.8710.6%15.8%8.1%0.582.4%
Novo Nordisk A/S NVO *$170.8 billion11.0652.8%41.3%6.4%0.674.6%
Pfizer Inc. PFE$158.6 billion36.615.1%n/a-0.2%0.716.2%
Vertex Pharmaceuticals Inc. VRTX$127.5 billion29.2921.8%38.0%10.2%0.00n/a
Bristol-Myers Squibb Co. BMY$121.7 billion13.1241.6%24.2%3.1%1.924.2%
Sanofi SNY *$98.1 billion11.2210.9%n/a6.2%0.265.5%
GSK plc GSK *$93.4 billion12.6734.9%24.3%4.1%0.883.6%
Moderna, Inc. MRNA$78.6 billionn/a-46.6%-149.0%-27.6%0.09n/a
Regeneron Pharmaceuticals, Inc. REGN$78.4 billion18.2813.7%24.7%9.3%0.060.5%
Takeda Pharmaceutical Company Limited TAK *$58.5 billionn/a-2.1%0.1%-1.7%0.663.5%
argenx SE ARGX *$50.7 billion41.8317.6%n/a89.9%0.00n/a
Teva Pharmaceutical Industries Ltd. TEVA$45.7 billion65.429.1%9.3%4.1%2.140.0%
IDEXX Laboratories Inc. IDXX$40.5 billion36.0970.7%32.0%12.8%0.60n/a
Biogen Inc. BIIB$32.2 billion38.664.4%10.1%0.3%0.39n/a
Zoetis Inc. ZTS$30.3 billion12.0483.1%n/a1.5%2.872.8%
Roivant Sciences Ltd. ROIV$24.7 billionn/a-6.3%-7,914.8%-67.6%0.00n/a
Genmab A/S GMAB *$23.2 billion23.4516.5%28.6%19.2%0.90n/a
BioNTech SE BNTX *$23.1 billionn/a-5.9%-49.0%4.3%0.01n/a
United Therapeutics Corp. UTHR$22.7 billion19.0620.5%44.4%2.5%0.00n/a
Viatris Inc. VTRS$20.0 billionn/a-2.9%-0.6%4.4%0.812.8%
Exelixis, Inc. EXEL$14.7 billion18.5646.7%39.9%9.2%0.00n/a
Jazz Pharmaceuticals plc JAZZ$14.4 billion15.3419.6%19.5%12.6%0.91n/a
Neurocrine Biosciences Inc. NBIX$14.4 billion20.7119.1%23.6%34.4%0.00n/a
Corcept Therapeutics Inc. CORT$12.8 billion282.247.8%0.8%16.0%0.00n/a
Halozyme Therapeutics, Inc. HALO$12.5 billion32.79288.1%35.9%41.2%13.50n/a
Bio-Techne Corp. TECH$11.3 billion63.008.6%20.7%-0.4%0.090.4%
Elanco Animal Health Inc. ELAN$11.3 billionn/a-3.0%n/a12.0%0.56n/a
Biomarin Pharmaceutical Inc. BMRN$10.6 billion148.351.2%4.4%11.2%0.66n/a
Dr. Reddy’s Laboratories Limited RDY *$10.2 billion22.8511.4%15.0%3.2%0.050.7%
Krystal Biotech, Inc. KRYS$9.7 billion41.0217.8%44.9%22.6%0.00n/a
Repligen Corp. RGEN$9.2 billion224.442.0%8.2%16.5%0.26n/a
Cytokinetics Inc. CYTK$8.6 billionn/an/a-1,046.1%-21.1%n/an/a
Arrowhead Pharmaceuticals, Inc. ARWR$8.6 billionn/a-68.7%-33.8%16.8%1.47n/a
Lantheus Holdings, Inc. LNTH$6.5 billion24.1821.0%19.4%2.3%0.43n/a
11 companies share its SEC industry code (Biological Products, (No Diagnostic Substances)); the rest are the names nearest in size in its wider industry, Pharmaceutical Products, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q3 July 20265 August 2026EDGAR
10-Q3 April 20265 May 2026EDGAR
10-K2 January 202610 February 2026EDGAR
10-Q3 October 20254 November 2025EDGAR
10-Q4 July 202528 July 2025EDGAR
10-Q4 April 202513 May 2025EDGAR
10-K3 January 202511 February 2025EDGAR
10-Q27 September 202429 October 2024EDGAR
10-Q28 June 20246 August 2024EDGAR
10-Q29 March 202430 April 2024EDGAR

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