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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
$56.90+0.69(0.01%)After hours
Market Cap
$14.67B
P/E
17.0x
P/S
6.0x
P/B
8.0x

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: 83/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability22/25
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 · 17.0x5y range 13.6x – 76.7x
P/E 17.0x · near its 20-quarter median

Currently near its 20-quarter median.

P/S · 6.0x5y range 3.1x – 6.0x
P/S 6.0x · above its 20-quarter median

Currently above its 20-quarter median.

P/B · 8.0x5y range 2.0x – 8.0x
Price & Volume
Market Cap $14.67B

Metrics at a Glance

as of July 2026

Revenue & Profit

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

TTM Revenue
$2.44B
4Q
Q. Revenue
$628.69M
5Q
TTM EBITDA
$1.00B
4Q
TTM Op. Income
$971.51M
4Q
Q. Op. Income
$248.41M
16%
TTM Net Income
$860.62M
4Q
Q. Net Income
$212.05M
15%
EPS
$0.85
25%
Shares Out.
$250.81M
7Q
$2.44B in TTM revenue grew 9.2% YoY, reaching $628.69M last quarter. TTM EBITDA of $1.00B and TTM operating income of $971.51M show growth is flowing through to the bottom line. TTM net income of $860.62M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
96.7%
0%
EBITDA Margin
39.5%
2Q
Op. Margin
39.5%
5%
Net Margin
33.7%
2Q
Op. margin of 39.5% is up 1.9% YoY — cost efficiency is improving. Net margin at 33.7% and gross margin of 96.7% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 5% — a weakening trend.

Price Ratios

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

P/E Ratio
17.0x
18%
P/S Ratio
6.0x
7%
P/B Ratio
8.0x
3Q
At 17.0x P/E, the stock trades within typical market levels. P/S of 6.0x and P/B of 8.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 18% — a weakening trend.

Assets & Liabilities

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

Total Assets
$2.49B
2Q
Cash
$281.45M
71%
Long-Term Debt
N/A
Book Value
$1.84B
2Q
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
$307.74M
528%
TTM Free Cash Flow
$1.17B
4Q
FCF Margin
48.1%
4Q
FCF / Net Income
1.4
9%
TTM FCF of $1.17B on $307.74M in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.

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· above its 20-quarter median

Currently above its 20-quarter median.