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Exelixis (EXEL) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Exelixis
NasdaqGS•Healthcare•Biotechnology
$70.13+0.74(0.01%)Pre-market
Market Cap
$17.30B
P/E
19.6x
P/S
6.9x
P/B
9.4x

Exelixis, Inc., an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers 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 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 specific forms of advanced melanoma; and MINNEBRO, an oral non-steroidal selective blocker of the mineralocorticoid receptor for the treatment of hypertension in Japan. It develops zanzalintinib, a novel, potent oral inhibitor of kinases, including the TAM kinases, MET, and VEGF receptors; XL309, a small molecule inhibitor of USP1, a synthetic lethal target in the context of BRCA-mutated tumors; XB010, an antibody-drug conjugates (ADC) consisting of a MMAE payload conjugated to a monoclonal antibody targeting the tumor antigen 5T4; XB628, a first-in-class bispecific antibody that targets programmed cell death ligand 1and natural killer cell receptor group 2A; and XB371, a next-generation tissue factor targeting ADC with a topoisomerase inhibitor payload. It has research collaborations and license agreements with Ipsen Pharma SAS; Takeda Pharmaceutical Company Ltd.; F. Hoffmann-La Roche Ltd.; Catalent, Inc.; Iconic Therapeutics, Inc.; Adagene Inc.; Invenra, Inc.; Genentech, Inc.; Bristol-Myers Squibb Company; and Daiichi Sankyo Company, Limited, as well as business development activities and other collaborations. 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.

A

How this company scores

ExcellentMetricSide Score: 86/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability25/25
Growth21/25
Balance Sheet & Red Flags15/25
Cash & Earnings Quality25/25
Strengths
Rising free cash flowStrong marginsHigh ROERising earnings

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 19.6x5y range 13.6x – 117.5x
P/E 19.6x · below its 20-quarter median

Currently below its 20-quarter median.

P/S · 6.9x5y range 4.4x – 7.6x
P/S 6.9x · near its 20-quarter median

Currently near its 20-quarter median.

P/B · 9.4x5y range 4.3x – 9.4x
Price & Volume
Market Cap $17.30B

Metrics at a Glance

as of October 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$2.50B
5Q
Q. Revenue
$658.70M
6Q
TTM EBITDA
$1.03B
5Q
TTM Op. Income
$1.00B
5Q
Q. Op. Income
$268.42M
13%
TTM Net Income
$885.14M
5Q
Q. Net Income
$218.09M
2Q
EPS
$0.88
2Q
Shares Out.
$246.76M
7Q
$2.50B in TTM revenue grew 9.1% YoY, reaching $658.70M last quarter. TTM EBITDA of $1.03B and TTM operating income of $1.00B show growth is flowing through to the bottom line. TTM net income of $885.14M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 5 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
96.0%
2Q
EBITDA Margin
40.8%
3%
Op. Margin
40.8%
3%
Net Margin
33.1%
3Q
Op. margin of 40.8% is up 1.2% YoY — cost efficiency is improving. Net margin at 33.1% and gross margin of 96.0% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 3% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
19.6x
2Q
P/S Ratio
6.9x
2Q
P/B Ratio
9.4x
4Q
At 19.6x P/E, the stock trades within typical market levels. P/S of 6.9x and P/B of 9.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$2.51B
11%
Cash
$304.77M
2Q
Long-Term Debt
N/A
Book Value
$1.83B
3Q
D/E Ratio
N/A
Debt/EBITDA
0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$279.96M
4%
TTM Free Cash Flow
$1.16B
49%
FCF Margin
46.5%
36%
FCF / Net Income
1.3
14%
TTM FCF of $1.16B on $279.96M in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 49% — a weakening trend.

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· above its 20-quarter median

Currently above its 20-quarter median.