EXEL · Exelixis, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $2.32B | $2.17B | $1.83B | $1.61B | $1.43B | $987.54M |
| Cost of Revenue | $83.70M | $76.22M | $72.55M | $57.91M | $52.87M | $36.27M |
| Gross Profit | $2.24B | $2.09B | $1.76B | $1.55B | $1.38B | $951.27M |
| R&D | $825.00M | $910.41M | $1.04B | $891.81M | $693.72M | $547.85M |
| SG&A | $518.73M | $492.13M | $542.71M | $459.86M | $401.71M | $293.36M |
| Total Operating Expenses | $1.45B | $1.56B | $1.66B | $1.41B | $1.15B | $598.30M |
| D&A | $29.05M | $28.80M | $25.72M | $20.88M | $13.63M | $9.14M |
| Operating Income | $872.19M | $604.62M | $170.88M | $201.48M | $286.67M | $110.06M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $158.64M | $160.37M | $49.76M | $52.07M | $63.09M | $19.06M |
| Net Income | $782.57M | $521.27M | $207.76M | $182.28M | $231.06M | $111.78M |
| EPS - Basic | $2.88 | $1.80 | $0.65 | $0.57 | $0.73 | $0.36 |
| EPS - Diluted | $2.78 | $1.76 | $0.65 | $0.56 | $0.72 | $0.35 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $482.49M | $217.37M | $262.99M | $501.19M | $647.17M | $319.22M |
| Accounts Receivable | $286.92M | $265.44M | $237.41M | $214.78M | $282.65M | $160.88M |
| Inventory | $21.69M | $22.39M | $17.32M | $33.30M | $27.49M | $20.97M |
| Accounts Payable | $29.62M | $38.19M | $33.77M | $32.67M | $24.26M | $23.63M |
| Current Assets | $1.44B | $1.47B | $1.32B | $1.62B | $1.83B | $1.45B |
| Total Assets | $2.84B | $2.95B | $2.94B | $3.07B | $2.62B | $2.14B |
| Current Liabilities | $405.64M | $403.77M | $394.28M | $324.36M | $337.59M | $204.66M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $683.10M | $703.49M | $678.45M | $583.06M | $405.62M | $258.22M |
| Stockholders' Equity | $2.16B | $2.24B | $2.26B | $2.49B | $2.21B | $284.96M |
| Retained Earnings | ($76.83M) | ($98.65M) | ($173.35M) | ($34.23M) | ($216.51M) | ($447.57M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $884.27M | $699.97M | $333.32M | $362.61M | $400.80M | $208.98M |
| Investing Cash Flow | $350.44M | ($116.78M) | ($26.95M) | ($524.41M) | ($42.88M) | ($131.22M) |
| Financing Cash Flow | ($969.59M) | ($628.81M) | ($546.05M) | $586.0K | ($14.80M) | ($25.13M) |
| CapEx | $8.43M | $28.43M | $40.47M | $27.71M | $64.22M | $30.34M |
| Free Cash Flow | $875.84M | $671.54M | $292.86M | $334.91M | $336.58M | $178.64M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 96.4% | 96.5% | 96.0% | 96.4% | 96.3% | 96.3% |
| Operating margin | 37.6% | 27.9% | 9.3% | 12.5% | 20.0% | 11.1% |
| EBITDA margin | 38.8% | 29.2% | 10.7% | 13.8% | 20.9% | 12.1% |
| Net margin | 33.7% | 24.0% | 11.4% | 11.3% | 16.1% | 11.3% |
| Free cash flow margin | 37.7% | 31.0% | 16.0% | 20.8% | 23.5% | 18.1% |
| FCF / Net income | 1.12 | 1.29 | 1.41 | 1.84 | 1.46 | 1.60 |
| R&D / Revenue | 35.6% | 42.0% | 57.0% | 55.4% | 48.3% | 55.5% |
| SG&A / Revenue | 22.4% | 22.7% | 29.7% | 28.5% | 28.0% | 29.7% |
| Effective tax rate | 16.9% | 23.5% | 19.3% | 22.2% | 21.4% | 14.6% |
| Return on assets | 27.5% | 17.7% | 7.1% | 5.9% | 8.8% | 5.2% |
| Return on equity | 36.2% | 23.2% | 9.2% | 7.3% | 10.5% | 39.2% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 3.56 | 3.63 | 3.34 | 4.99 | 5.43 | 7.06 |
| Quick ratio | 3.50 | 3.58 | 3.30 | 4.89 | 5.35 | 6.96 |
| Cash ratio | 1.19 | 0.54 | 0.67 | 1.55 | 1.92 | 1.56 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.32 | 1.31 | 1.30 | 1.23 | 1.18 | 7.50 |
| Liabilities / Assets | 0.24 | 0.24 | 0.23 | 0.19 | 0.16 | 0.12 |
| Efficiency | ||||||
| Asset turnover | 0.82 | 0.74 | 0.62 | 0.52 | 0.55 | 0.46 |
| Inventory turnover | 3.86 | 3.40 | 4.19 | 1.74 | 1.92 | 1.73 |
| Days sales outstanding | 45d | 45d | 47d | 49d | 72d | 59d |
| Days inventory outstanding | 95d | 107d | 87d | 210d | 190d | 211d |
| Days payable outstanding | 129d | 183d | 170d | 206d | 167d | 238d |
| Cash conversion cycle | 11d | -31d | -35d | 53d | 94d | 33d |
| Valuation | ||||||
| P / E | 15.7x | 19.3x | 36.9x | 28.6x | 25.4x | 57.3x |
| P / B | 5.7x | 4.5x | 3.4x | 2.1x | 2.7x | 22.4x |
| P / S | 5.3x | 4.6x | 4.2x | 3.2x | 4.1x | 6.5x |
| EV / EBITDA | 13.1x | 15.5x | 37.9x | 21.2x | 17.5x | 50.9x |
| Growth | ||||||
| Revenue growth (YoY) | 7.0% | 18.5% | 13.6% | 12.3% | 45.3% | 2.0% |
| Revenue CAGR (3y) | 12.9% | 14.8% | 22.8% | 18.5% | 95.7% | 198.4% |
| Revenue CAGR (5y) | 18.6% | 17.5% | 57.1% | 112.5% | 49.6% | 92.7% |
| Gross profit growth (YoY) | 6.9% | 19.0% | 13.2% | 12.4% | 45.3% | 1.8% |
| Operating income growth (YoY) | 44.3% | 253.8% | -15.2% | -29.7% | 160.5% | -70.2% |
| Net income growth (YoY) | 50.1% | 150.9% | 14.0% | -21.1% | 106.7% | -65.2% |
| EPS growth (YoY) | 58.0% | 170.8% | 16.1% | -22.2% | 105.7% | -65.7% |
| EPS CAGR (3y) | 70.6% | 34.7% | 22.9% | -18.1% | -31.2% | - |
| EPS CAGR (5y) | 51.4% | 11.5% | -21.7% | - | - | - |
| FCF growth (YoY) | 30.4% | 129.3% | -12.6% | -0.5% | 88.4% | -65.3% |
| FCF CAGR (5y) | 37.4% | 5.5% | -5.2% | 18.3% | 10.5% | - |
| Book value growth (YoY) | -3.7% | -0.9% | -9.0% | 12.6% | 675.8% | -77.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-01-02.
Business segments
$2.32B totalReportable Segment$2.32B · 100.0%
Product / service
$6.76B totalProduct Gross$3.01B · 44.5%
Product$2.12B · 31.4%
Cabometyx$2.11B · 31.2%
License$214.38M · 3.2%
Collaboration$197.32M · 2.9%
Cometriq$9.44M · 0.1%
Service($17.05M) · -0.3%
Product Sales Discounts And Allowances($889.00M) · -13.1%
Geographic
$2.32B totalUS$2.14B · 92.3%
Europe$154.16M · 6.6%
JP$25.59M · 1.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
3.33
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Biological Products, (No Diagnostic Substances)
Comparing EXELIXIS against the 5 most active filers in the same SIC group.