Exelixis Inc (EXEL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2027, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EXEL SEC filings page.
Exelixis Inc (EXEL) reported $2.4B in revenue over the twelve months to Jul 3, 2026, up 9.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Exelixis is converting modest revenue growth into sharply higher profits and cash while funding large buybacks from an asset-light balance sheet.
From FY2024 to FY2025, revenue increased while operating margin jumped9.0% , showing profit growth far outpaced sales. Gross margin stayed near96.4% , while R&D fell by$85M , pointing to lower operating-cost intensity rather than changed product economics.
FY2025 operating cash flow of
Liabilities were
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Exelixis Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Exelixis Inc has an operating margin of 37.6%, meaning the company retains $38 of operating profit per $100 of revenue. This strong profitability earns a score of 82/100, reflecting efficient cost management and pricing power. This is up from 27.9% the prior year.
Exelixis Inc's revenue grew 7.0% year-over-year to $2.3B, a solid pace of expansion. This earns a growth score of 71/100.
Exelixis Inc carries a low D/E ratio of 0.32, meaning only $0.32 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 68/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.56, Exelixis Inc holds $3.56 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 84/100.
Exelixis Inc converts 37.8% of revenue into free cash flow ($875.8M). This strong cash generation earns a score of 95/100.
Exelixis Inc earns a strong 36.2% return on equity (ROE), meaning it generates $36 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 80/100. This is up from 23.2% the prior year.
Exelixis Inc scores 15.90, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($15.6B) relative to total liabilities ($683.1M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Exelixis Inc passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Exelixis Inc generates $1.13 in operating cash flow ($884.3M OCF vs $782.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Exelixis Inc generated $628.7M in revenue in Q2 2027. This represents an increase of 10.6% from the same quarter a year earlier. Against the prior quarter it is up 2.9%.
Exelixis Inc's EBITDA was $255.4M in Q2 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 15.6% from the same quarter a year earlier. Against the prior quarter it is down 1.1%.
Exelixis Inc reported $212.1M in net income in Q2 2027. This represents an increase of 14.7% from the same quarter a year earlier. Against the prior quarter it is up 0.8%.
Exelixis Inc earned $0.82 per diluted share (EPS) in Q2 2027. This represents an increase of 26.2% from the same quarter a year earlier. Against the prior quarter it is up 3.8%.
Cash & Balance Sheet
Exelixis Inc generated $300.9M in free cash flow in Q2 2027, representing cash available after capex. This represents an increase of 552.0% from the same quarter a year earlier. Against the prior quarter it is up 20.2%.
Exelixis Inc held $281.4M in cash as of Q2 2027; long-term debt is not reported for that period.
Not reported for Q2 2027.
Margins & Returns
Exelixis Inc's gross margin was 96.7% in Q2 2027, indicating the percentage of revenue retained after direct costs. This is up 0.1 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.
Exelixis Inc's operating margin was 39.5% in Q2 2027, reflecting core business profitability. This is up 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.
Exelixis Inc's net profit margin was 33.7% in Q2 2027, showing the share of revenue converted to profit. This is up 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.
Exelixis Inc's ROE was 11.5% in Q2 2027, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Capital Allocation
Exelixis Inc invested $212.0M in research and development in Q2 2027. This represents an increase of 5.8% from the same quarter a year earlier. Against the prior quarter it is up 6.0%.
Exelixis Inc spent $323.0M on share buybacks in Q2 2027, returning capital to shareholders by reducing shares outstanding. This represents an increase of 7.0% from the same quarter a year earlier. Against the prior quarter it is down 25.0%.
Exelixis Inc invested $6.8M in capex in Q2 2027, funding long-term assets and infrastructure. This represents an increase of 140.2% from the same quarter a year earlier. Against the prior quarter it is up 351.7%.
EXEL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $628.7M+10.6% | $610.8M+10.0% | $598.7M+5.6% | $597.8M+10.8% | $568.3M-10.8% | $555.4M+30.6% | $566.8M+18.2% | $539.5M+14.3% |
| Cost of Revenue | $20.7M+6.1% | $20.0M+4.1% | $26.5M+32.6% | $18.6M+7.2% | $19.5M+10.2% | $19.2M-9.8% | $20.0M-8.2% | $17.3M-7.7% |
| Gross Profit | $608.0M+10.8% | $590.9M+10.2% | $572.2M+4.6% | $579.2M+10.9% | $548.8M-11.4% | $536.3M+32.8% | $546.8M+19.4% | $522.2M+15.2% |
| R&D Expenses | $212.0M+5.8% | $199.9M-5.8% | $213.2M-14.4% | $199.2M-10.5% | $200.4M-5.1% | $212.2M-6.8% | $249.0M+1.8% | $222.6M-33.1% |
| SG&A Expenses | $147.6M+9.5% | $139.6M+1.8% | $123.0M-8.4% | $123.7M+10.6% | $134.9M+2.2% | $137.2M+20.4% | $134.3M+2.2% | $111.8M-19.1% |
| Operating Income | $248.4M+16.3% | $251.3M+34.5% | $235.2M+44.1% | $236.5M+73.8% | $213.6M-22.6% | $186.9M+534.2% | $163.2M+99.5% | $136.1M+873.9% |
| EBITDA | $255.4M+15.6% | $258.3M+33.0% | $242.2M+41.7% | $244.0M+70.0% | $220.9M-22.0% | $194.2M+441.9% | $170.8M+93.5% | $143.5M+1371.6% |
| Income Tax | $50.6M+11.1% | $57.2M+24.2% | $8.2M-81.8% | $58.8M+60.0% | $45.6M-31.7% | $46.1M+285.6% | $44.9M+156.3% | $36.8M+670.0% |
| Net Income | $212.1M+14.7% | $210.5M+31.9% | $244.6M+74.8% | $193.6M+64.1% | $184.8M-18.3% | $159.6M+327.7% | $139.9M+63.5% | $118.0M+11232.7% |
| EPS (Basic) | $0.85+25.0% | $0.81+42.1% | $0.91+85.7% | $0.72+75.6% | $0.68-12.8% | $0.57+375.0% | $0.49+81.5% | $0.41 |
| EPS (Diluted) | $0.82+26.2% | $0.79+43.6% | $0.88+83.3% | $0.69+72.5% | $0.65-15.6% | $0.55+358.3% | $0.48+77.8% | $0.40 |
| Diluted Shares (Avg) | 260M-8.7% | 267M-7.2% | N/A | 279M-4.4% | 284M-3.3% | 288M-5.7% | N/A | 291M-8.7% |
Not reported in any period shown, so not listed: Interest Expense.
EXEL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.5B-6.9% | $2.6B-8.6% | $2.8B-3.5% | $2.8B-4.6% | $2.7B-3.4% | $2.8B+1.2% | $2.9B+0.2% | $3.0B-0.6% |
| Current Assets | $1.3B+5.9% | $1.2B-13.5% | $1.4B-1.7% | $1.4B-9.5% | $1.2B-20.1% | $1.4B+8.1% | $1.5B+11.4% | $1.5B+7.4% |
| Cash & Equivalents | $281.4M+71.2% | $226.2M+23.1% | $482.5M+122.0% | $376.3M+45.7% | $164.4M-17.1% | $183.8M-29.2% | $217.4M-17.3% | $258.3M-34.9% |
| Short-Term Investments | $557.9M-11.0% | $551.1M-35.0% | $576.6M-35.5% | $612.2M-34.2% | $626.7M-22.0% | $847.6M+20.4% | $893.9M+22.1% | $930.8M+31.7% |
| Inventory | $28.7M+22.3% | $26.6M+7.0% | $21.7M-3.1% | $27.4M+30.4% | $23.5M+13.9% | $24.9M+17.8% | $22.4M+29.2% | $21.0M-15.9% |
| Long-Term Investments | $544.9M-8.4% | $649.1M+4.8% | $603.6M-5.3% | $578.3M+10.5% | $594.7M+37.6% | $619.4M-1.6% | $637.3M-12.5% | $523.4M-35.5% |
| Goodwill | $63.7M0.0% | $63.7M0.0% | $63.7M0.0% | $63.7M0.0% | $63.7M0.0% | $63.7M0.0% | $63.7M0.0% | $63.7M0.0% |
| Total Liabilities | $650.5M+0.9% | $657.8M-6.9% | $683.1M-2.9% | $662.8M-3.2% | $644.5M-1.4% | $706.2M+4.5% | $703.5M+3.7% | $684.9M+8.8% |
| Current Liabilities | $361.9M+7.7% | $371.0M-7.0% | $405.6M+0.5% | $373.8M-5.2% | $336.1M-2.8% | $399.1M+7.0% | $403.8M+2.4% | $394.3M+4.7% |
| Non-Current Liabilities | $288.5M-6.4% | $286.9M-6.6% | $277.5M-7.4% | $289.1M-0.5% | $308.4M+0.2% | $307.1M+1.4% | $299.7M+5.5% | $290.5M+15.1% |
| Total Equity | $1.8B-9.3% | $1.9B-9.2% | $2.2B-3.7% | $2.2B-5.0% | $2.0B-4.1% | $2.1B+0.1% | $2.2B-0.9% | $2.3B-3.1% |
| Retained Earnings | -$262.5M-19.6% | -$215.8M-32.2% | -$76.8M+22.1% | -$106.1M-17.5% | -$219.5M-9.8% | -$163.3M+36.9% | -$98.6M+43.1% | -$90.3M+28.4% |
Not reported in any period shown, so not listed: Accounts Receivable, Long-Term Debt.
EXEL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $307.7M+528.1% | $251.8M+19.1% | $333.5M+38.8% | $290.3M+7.0% | $49.0M-59.0% | $211.4M+207.2% | $240.3M+2172.9% | $271.3M+131.2% |
| Depreciation & Amortization | $7.0M-4.9% | $6.9M-5.4% | $6.9M-9.1% | $7.4M-0.4% | $7.3M+0.2% | $7.3M+15.2% | $7.6M+17.1% | $7.5M+18.4% |
| Stock-Based Compensation | $32.6M-9.7% | $29.1M+12.0% | N/A | $30.9M+34.1% | $36.1M+42.3% | $25.9M+35.7% | N/A | $23.0M-43.1% |
| Capital Expenditures | $6.8M+140.2% | $1.5M-48.9% | $1.2M-70.9% | $1.5M-81.9% | $2.8M-56.8% | $3.0M-69.5% | $4.0M-69.7% | $8.2M-12.5% |
| Free Cash Flow | $300.9M+552.0% | $250.3M+20.1% | $332.4M+40.7% | $288.8M+9.8% | $46.2M-59.1% | $208.5M+252.6% | $236.3M+9315.5% | $263.1M+143.7% |
| Investing Cash Flow | $91.4M-63.1% | -$51.1M-202.6% | $27.2M+129.2% | $25.4M+111.7% | $248.0M+203.3% | $49.8M-55.5% | -$93.2M-251.0% | -$217.1M-726.1% |
| Financing Cash Flow | -$343.9M-8.7% | -$457.1M-55.0% | -$254.6M-35.4% | -$103.9M-1923.4% | -$316.3M-20.5% | -$294.8M-60.2% | -$188.0M+8.8% | $5.7M+102.6% |
| Share Buybacks | $323.0M+7.0% | $430.4M+51.6% | $257.6M+35.3% | $104.0M+772.3% | $301.9M+14.2% | $283.9M+53.2% | $190.4M-9.0% | $11.9M-94.5% |
Not reported in any period shown, so not listed: Dividends Paid.
EXEL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.7%+0.1pp | 96.7%+0.2pp | 95.6%-0.9pp | 96.9%+0.1pp | 96.6%-0.7pp | 96.5%+1.6pp | 96.5%+1.0pp | 96.8%+0.8pp |
| Operating Margin | 39.5%+1.9pp | 41.1%+7.5pp | 39.3%+10.5pp | 39.6%+14.4pp | 37.6%-5.7pp | 33.6%+26.7pp | 28.8%+11.7pp | 25.2%+28.9pp |
| Net Margin | 33.7%+1.2pp | 34.5%+5.7pp | 40.8%+16.2pp | 32.4%+10.5pp | 32.5%-3.0pp | 28.7%+20.0pp | 24.7%+6.8pp | 21.9%+21.6pp |
| Return on Equity | 11.5%+2.4pp | 10.9%+3.4pp | 11.3%+5.1pp | 9.0%+3.8pp | 9.1%-1.6pp | 7.5%+5.7pp | 6.2%+2.5pp | 5.2%+5.1pp |
| Return on Assets | 8.5%+1.6pp | 8.1%+2.5pp | 8.6%+3.8pp | 6.9%+2.9pp | 6.9%-1.2pp | 5.6%+4.3pp | 4.8%+1.8pp | 4.0%+4.0pp |
| Current Ratio | 3.46-0.1x | 3.26-0.2x | 3.56-0.1x | 3.75-0.2x | 3.51-0.8x | 3.500.0x | 3.63+0.3x | 3.93+0.1x |
| Debt-to-Equity | 0.350.0x | 0.340.0x | 0.320.0x | 0.310.0x | 0.320.0x | 0.330.0x | 0.310.0x | 0.300.0x |
| Asset Turnover | 0.250.0x | 0.240.0x | 0.210.0x | 0.210.0x | 0.210.0x | 0.200.0x | 0.190.0x | 0.180.0x |
| FCF Margin | 47.9%+39.8pp | 41.0%+3.4pp | 55.5%+13.8pp | 48.3%-0.5pp | 8.1%-9.6pp | 37.5%+23.6pp | 41.7%+42.2pp | 48.8%+25.9pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Exelixis Inc EXEL | FY2025 | $2.3B | $782.6M | 33.7% | $15.6B | 80/100 |
| Ionis Pharmaceuticals, Inc. IONS | FY2025 | $943.7M | -$381.4M | -40.4% | $7.3B | 68/100 |
| BioMarin Pharmaceuticals Inc BMRN | FY2025 | $3.2B | $348.9M | 10.8% | $10.8B | 76/100 |
| BridgeBio Pharma, Inc. BBIO | FY2025 | $502.1M | -$732.9M | N/A | $13.1B | 58/100 |
| Summit Therapeutics Inc. SMMT | FY2025 | N/A | -$1.1B | N/A | $12.3B | — |
Where Exelixis Inc Ranks
Frequently Asked Questions
What is Exelixis Inc's annual revenue?
Exelixis Inc (EXEL) reported $2.3B in total revenue for fiscal year 2025. This represents a 7.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Exelixis Inc's revenue growing?
Exelixis Inc (EXEL) revenue grew by 7.0% year-over-year, from $2.2B to $2.3B in fiscal year 2025.
Is Exelixis Inc profitable?
Yes, Exelixis Inc (EXEL) reported a net income of $782.6M in fiscal year 2025, with a net profit margin of 33.7%.
What is Exelixis Inc's EBITDA?
Exelixis Inc (EXEL) had EBITDA of $901.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Exelixis Inc's gross margin?
Exelixis Inc (EXEL) had a gross margin of 96.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Exelixis Inc's operating margin?
Exelixis Inc (EXEL) had an operating margin of 37.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Exelixis Inc's net profit margin?
Exelixis Inc (EXEL) had a net profit margin of 33.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Exelixis Inc's return on equity (ROE)?
Exelixis Inc (EXEL) has a return on equity of 36.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Exelixis Inc's free cash flow?
Exelixis Inc (EXEL) generated $875.8M in free cash flow during fiscal year 2025. This represents a 30.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Exelixis Inc's operating cash flow?
Exelixis Inc (EXEL) generated $884.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Exelixis Inc's total assets?
Exelixis Inc (EXEL) had $2.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Exelixis Inc's capital expenditures?
Exelixis Inc (EXEL) invested $8.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Exelixis Inc spend on research and development?
Exelixis Inc (EXEL) invested $825.0M in research and development during fiscal year 2025.
What is Exelixis Inc's current ratio?
Exelixis Inc (EXEL) had a current ratio of 3.56 as of fiscal year 2025, which is generally considered healthy.
What is Exelixis Inc's debt-to-equity ratio?
Exelixis Inc (EXEL) had a debt-to-equity ratio of 0.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Exelixis Inc's return on assets (ROA)?
Exelixis Inc (EXEL) had a return on assets of 27.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Exelixis Inc's P/E ratio?
Exelixis Inc (EXEL) trades at 18.1x earnings, its market capitalization divided by net income of $860.7M net income, trailing 12 months to July 3, 2026. The market capitalization is $15.6B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Exelixis Inc's price-to-sales ratio?
Exelixis Inc (EXEL) trades at 6.4x sales, its market capitalization divided by revenue of $2.4B revenue, trailing 12 months to July 3, 2026. The market capitalization is $15.6B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Exelixis Inc's Altman Z-Score?
Exelixis Inc (EXEL) has an Altman Z-Score of 15.90, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Exelixis Inc's Piotroski F-Score?
Exelixis Inc (EXEL) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Exelixis Inc's earnings high quality?
Exelixis Inc (EXEL) has an earnings quality ratio of 1.13x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Exelixis Inc?
Exelixis Inc (EXEL) scores 80 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.