EXELNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends January 1
EXELIXIS, INC.
Financials through Q2 FY2026, quarter ended Jul 3, 2026Last filing: 10-Q on Aug 5, 2026
$62.68+0.45 (+0.72%)
Close on Oct 19, 2026
- Market cap
- $16.28B
- P/E (TTM)
- 19.7
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
96.4%+0.1 pts over 5 years
Operating margin
37.6%+26.4 pts over 5 years
Net margin
33.7%+22.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.0% | +12.9% | +18.6% | +51.2% | |
| Gross profit | +6.9% | +12.9% | +18.6% | +52.3% | |
| Operating income | +44.3% | +63.0% | +51.3% | – | |
| Net income | +50.1% | +62.5% | +47.6% | – | |
| EPS, diluted | +58.0% | +70.6% | +51.4% | – | |
| Free cash flow | +30.4% | +37.8% | +37.4% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 6.3% | 35.5% | |
| Return on assets | -15.1% | 5.6% | 27.0% | |
| Current ratio | 1.74 | 7.06 | 3.56 | |
| Interest coverage | -0.9× | – | – | |
| Inventory turnover | 2.2× | 2.1× | 3.8× | |
| Capex to revenue | 0.9% | 3.1% | 0.4% | |
| Diluted shares | 251M | 318M | 282M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Exelixis generated $2.68B from operations and spent $2.31B on capital expenditure, dividends and share buybacks. 7% of that went back into the business.
Generated
$2.68B
Used
$2.31B
Capital expenditure$159.26M7%Dividends$00%Share buybacks$2.15B93%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin33.7%
×Asset turnover0.80×
×Equity multiplier1.31×
=Return on equity, FY202535.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 33.7% | 0.80× | 1.31× | 35.5% |
| FY2024 | 24.0% | 0.74× | 1.31× | 23.1% |
| FY2023 | 11.4% | 0.61× | 1.27× | 8.7% |
| FY2022 | 11.3% | 0.57× | 1.21× | 7.8% |
| FY2021 | 16.1% | 0.60× | 1.16× | 11.3% |
| FY2020 | 11.3% | 0.49× | 1.13× | 6.3% |
| FY2019 | 33.2% | 0.59× | 1.11× | 21.6% |
| FY2018 | 80.8% | 0.82× | 1.32× | 87.8% |
| FY2017 | 34.1% | 0.72× | 3.34× | 82.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$782.57M
- Cash generatingOperating cash flow above zero$884.27M
- Return on assets improvedROA up on the prior year17.7% → 26.5%
- Earnings backed by cashOperating cash flow above net income$884.27M vs $782.57M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.63 → 3.56
- No dilutionShare count did not rise296M → 282M
- Gross margin improvedGross margin up on the prior year96.49% → 96.39%
- More efficientAsset turnover rose0.74 → 0.79