NASDAQ : EXEL
Exelixis, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 66.2 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 16.40B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Exelixis, Inc. (EXEL) reported revenue of 2.50B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.50B | 2.32B | 2.17B | 1.83B | 1.61B | 1.43B |
| Cost of Revenue | 93.32M | 83.70M | 76.22M | 72.55M | 57.91M | 52.87M |
| Gross Profit | 2.40B | 2.24B | 2.09B | 1.76B | 1.55B | 1.38B |
| Selling, General & Admin | 564.82M | 518.73M | 492.13M | 542.71M | 459.86M | 401.71M |
| Research & Development | 834.63M | 825.00M | 910.41M | 1.04B | 891.81M | 693.72M |
| Operating Expenses | 1.40B | 1.34B | 1.40B | 1.59B | 1.35B | 1.10B |
| Operating Income | 1.00B | 892.70M | 689.95M | 170.88M | 201.48M | 286.67M |
| Interest & Investment Income | 62.08M | 69.21M | 77.16M | 86.54M | 33.06M | 7.67M |
| Currency Exchange Gain (Loss) | 1.20M | 800.00K | ||||
| Other Non Operating Income (Expenses) | 366.00K | -198.00K | -133.00K | 93.00K | -1.40M | -984.00K |
| EBT Excluding Unusual Items | 1.07B | 961.72M | 766.97M | 257.52M | 234.35M | 294.15M |
| Merger & Restructuring Charges | -694.00K | -20.51M | -33.66M | |||
| Asset Writedown | -51.67M | |||||
| Pretax Income | 1.07B | 941.21M | 681.64M | 257.52M | 234.35M | 294.15M |
| Income Tax Expense | 180.70M | 158.64M | 160.37M | 49.76M | 52.07M | 63.09M |
| Net Income | 885.14M | 782.57M | 521.27M | 207.76M | 182.28M | 231.06M |
| Net Income to Common | 885.14M | 782.57M | 521.27M | 207.76M | 182.28M | 231.06M |
| Shares Outstanding (Basic) | 255.59M | 271.57M | 290.03M | 318.15M | 321.53M | 314.88M |
| Shares Outstanding (Diluted) | 264.77M | 281.86M | 296.13M | 321.46M | 324.56M | 322.36M |
| EPS (Basic) | 3.46 | 2.88 | 1.80 | 0.65 | 0.57 | 0.73 |
| EPS (Diluted) | 3.35 | 2.78 | 1.76 | 0.65 | 0.56 | 0.72 |
| Free Cash Flow | 1.16B | 875.84M | 671.54M | 292.86M | 334.91M | 346.58M |
| Free Cash Flow Per Share | 4.38 | 3.11 | 2.27 | 0.91 | 1.03 | 1.07 |
| Gross Margin | 96.26% | 96.39% | 96.49% | 96.04% | 96.41% | 96.31% |
| Operating Margin | 40.21% | 38.48% | 31.81% | 9.34% | 12.51% | 19.98% |
| Profit Margin | 35.45% | 33.73% | 24.04% | 11.35% | 11.31% | 16.10% |
| Free Cash Flow Margin | 46.50% | 37.75% | 30.96% | 16.00% | 20.79% | 24.15% |
| EBITDA | 1.03B | 921.76M | 718.75M | 196.60M | 222.36M | 300.30M |
| EBITDA Margin | 41.33% | 39.73% | 33.14% | 10.74% | 13.80% | 20.93% |
| D&A For EBITDA | 27.81M | 29.05M | 28.80M | 25.72M | 20.88M | 13.63M |
| EBIT | 1.00B | 892.70M | 689.95M | 170.88M | 201.48M | 286.67M |
| EBIT Margin | 40.21% | 38.48% | 31.81% | 9.34% | 12.51% | 19.98% |
| Effective Tax Rate | 16.95% | 16.86% | 23.53% | 19.32% | 22.22% | 21.45% |
| Revenue as Reported | 2.50B | 2.32B | 2.17B | 1.83B | 1.61B | 1.43B |
| Advertising Expenses | 51.70M | 43.50M | 40.00M | 41.60M | 31.80M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 304.77M | 482.49M | 217.37M | 262.99M | 501.19M | 647.17M |
| Short-Term Investments | 587.24M | 576.60M | 893.90M | 732.31M | 807.27M | 819.90M |
| Cash & Short-Term Investments | 892.02M | 1.06B | 1.11B | 995.30M | 1.31B | 1.47B |
| Accounts Receivable | 328.47M | 286.92M | 265.44M | 237.41M | 214.78M | 282.65M |
| Other Receivables | 9.80M | 12.40M | 14.90M | 13.10M | 7.30M | 2.90M |
| Receivables | 338.27M | 299.32M | 280.34M | 250.51M | 222.08M | 285.55M |
| Inventory | 29.87M | 21.69M | 22.39M | 17.32M | 33.30M | 27.49M |
| Prepaid Expenses | 61.47M | 63.20M | 53.58M | 54.83M | 54.91M | 54.63M |
| Total Current Assets | 1.32B | 1.44B | 1.47B | 1.32B | 1.62B | 1.83B |
| Property, Plant & Equipment | 290.22M | 258.00M | 291.95M | 361.98M | 345.44M | 149.15M |
| Long-Term Investments | 507.76M | 603.60M | 637.29M | 728.72M | 756.73M | 371.11M |
| Goodwill | 63.68M | 63.68M | 63.68M | 63.68M | 63.68M | 63.68M |
| Long-Term Accounts Receivable | 369.00K | 1.32M | 1.66M | 1.67M | ||
| Long-Term Deferred Tax Assets | 295.56M | 292.58M | 420.03M | 361.14M | 231.11M | 111.66M |
| Other Long-Term Assets | 34.65M | 183.27M | 66.78M | 107.56M | 54.11M | 84.22M |
| Total Assets | 2.51B | 2.84B | 2.95B | 2.94B | 3.07B | 2.62B |
| Accounts Payable | 30.83M | 29.62M | 38.19M | 33.77M | 32.67M | 24.26M |
| Accrued Expenses | 266.20M | 278.34M | 296.77M | 278.39M | 212.77M | 259.97M |
| Current Portion of Leases | 27.88M | 25.01M | 25.71M | 17.66M | 5.14M | |
| Current Unearned Revenue | 1.08M | 1.11M | 2.74M | 5.41M | 7.49M | 7.81M |
| Other Current Liabilities | 113.76M | 68.69M | 41.06M | 51.00M | 53.78M | 40.41M |
| Total Current Liabilities | 411.88M | 405.64M | 403.77M | 394.28M | 324.36M | 337.59M |
| Long-Term Leases | 162.20M | 173.04M | 190.82M | 189.94M | 190.17M | 51.27M |
| Long-Term Unearned Revenue | 4.04M | 6.11M | 3.39M | 5.52M | 6.58M | 8.74M |
| Other Long-Term Liabilities | 101.54M | 98.31M | 105.50M | 88.70M | 61.95M | 8.02M |
| Total Liabilities | 679.66M | 683.10M | 703.49M | 678.45M | 583.06M | 405.62M |
| Common Stock | 245.00K | 262.00K | 282.00K | 303.00K | 324.00K | 319.00K |
| Additional Paid-In Capital | 2.10B | 2.23B | 2.34B | 2.44B | 2.54B | 2.43B |
| Retained Earnings | -258.80M | -76.83M | -98.65M | -173.35M | -34.23M | -216.51M |
| Comprehensive Income & Other | -6.59M | 3.48M | -1.35M | -3.75M | -14.52M | -758.00K |
| Shareholders' Equity | 1.83B | 2.16B | 2.24B | 2.26B | 2.49B | 2.21B |
| Total Liabilities & Equity | 2.51B | 2.84B | 2.95B | 2.94B | 3.07B | 2.62B |
| Total Debt | 162.20M | 200.92M | 215.83M | 215.66M | 207.83M | 56.41M |
| Net Cash (Debt) | 1.24B | 1.46B | 1.53B | 1.51B | 1.10B | 1.41B |
| Net Cash Per Share | 4.67 | 5.19 | 5.18 | 4.69 | 3.39 | 4.38 |
| Filing Date Shares Outstanding | 244.01M | 259.71M | 279.88M | 303.19M | 324.09M | 319.45M |
| Total Common Shares Outstanding | 244.68M | 262.48M | 281.73M | 302.79M | 323.95M | 318.84M |
| Working Capital | 909.75M | 1.04B | 1.06B | 923.68M | 1.29B | 1.50B |
| Book Value Per Share | 7.49 | 8.23 | 7.97 | 7.48 | 7.68 | 6.93 |
| Tangible Book Value | 1.77B | 2.10B | 2.18B | 2.20B | 2.42B | 2.15B |
| Tangible Book Value Per Share | 7.23 | 7.99 | 7.74 | 7.27 | 7.48 | 6.73 |
| Machinery | 117.10M | 108.97M | 95.62M | 83.23M | 54.40M | |
| Construction In Progress | 3.00M | 2.88M | 24.46M | 4.93M | 16.87M | |
| Leasehold Improvements | 111.09M | 108.28M | 89.04M | 83.33M | 73.59M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 885.14M | 782.57M | 521.27M | 207.76M | 182.28M | 231.06M |
| Depreciation & Amortization | 27.81M | 29.05M | 28.80M | 25.72M | 20.88M | 13.63M |
| Asset Writedown & Restructuring Costs | 16.60M | 12.00M | 115.14M | 128.50M | 107.25M | 14.00M |
| Stock-Based Compensation | 110.43M | 112.98M | 93.84M | 106.34M | 107.57M | 119.82M |
| Other Operating Activities | 143.16M | 138.86M | -45.62M | -121.03M | -42.57M | 61.30M |
| Change in Accounts Receivable | -18.74M | -21.40M | -27.95M | -22.62M | 66.85M | -122.32M |
| Change in Inventory | 10.05M | 12.22M | 5.45M | -12.98M | -11.68M | -13.21M |
| Change in Accounts Payable | 90.00K | -50.15M | -21.89M | 50.11M | 23.36M | 55.09M |
| Change in Unearned Revenue | 11.01M | |||||
| Change in Other Net Operating Assets | -1.49M | -131.87M | 30.93M | -28.48M | -91.32M | 30.42M |
| Operating Cash Flow | 1.17B | 884.27M | 699.97M | 333.32M | 362.61M | 400.80M |
| Capital Expenditures | -11.97M | -8.43M | -28.43M | -40.47M | -27.71M | -54.23M |
| Sale (Purchase) of Intangibles | -16.60M | -31.50M | -37.75M | -122.50M | -110.75M | -10.00M |
| Investment in Securities | 89.46M | 390.37M | -50.60M | 136.01M | -385.96M | 21.34M |
| Investing Cash Flow | 60.89M | 350.44M | -116.78M | -26.95M | -524.41M | -42.88M |
| Issuance of Common Stock | 34.19M | 49.14M | 61.85M | 33.45M | 23.89M | 24.31M |
| Repurchase of Common Stock | -1.34B | -1.02B | -690.66M | -579.50M | -23.30M | -39.11M |
| Financing Cash Flow | -1.31B | -969.59M | -628.81M | -546.05M | 586.00K | -14.80M |
| Net Cash Flow | -71.53M | 265.11M | -45.62M | -239.68M | -161.21M | 343.12M |
| Free Cash Flow | 1.16B | 875.84M | 671.54M | 292.86M | 334.91M | 346.58M |
| Free Cash Flow Margin | 46.50% | 37.75% | 30.96% | 16.00% | 20.79% | 24.15% |
| Free Cash Flow Per Share | 4.38 | 3.11 | 2.27 | 0.91 | 1.03 | 1.07 |
| Levered Free Cash Flow | 759.44M | 631.16M | 464.22M | 125.40M | 147.55M | 250.40M |
| Unlevered Free Cash Flow | 759.44M | 631.16M | 464.22M | 125.40M | 147.55M | 250.40M |
| Cash Income Tax Paid | 155.30M | 155.30M | 170.48M | 185.66M | 127.87M | 12.96M |
| Change in Working Capital | -10.08M | -191.20M | -13.45M | -13.97M | -12.80M | -39.01M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 16.93B | 11.80B | 9.51B | 7.46B | 5.17B | 5.78B |
| Enterprise Value | 15.69B | 10.41B | 7.99B | 6.55B | 3.79B | 4.43B |
| Last Close Price | 69.39 | 43.83 | 33.30 | 23.99 | 16.04 | 18.28 |
| PE Ratio | 20.73 | 15.08 | 18.24 | 35.91 | 28.38 | 25.03 |
| Forward PE | 17.21 | 14.95 | 18.00 | 26.46 | 28.49 | 45.70 |
| PS Ratio | 6.78 | 5.09 | 4.38 | 4.08 | 3.21 | 4.03 |
| PB Ratio | 9.26 | 5.46 | 4.24 | 3.29 | 2.08 | 2.62 |
| P/TBV Ratio | 9.57 | 5.62 | 4.36 | 3.39 | 2.13 | 2.69 |
| P/FCF Ratio | 14.58 | 13.47 | 14.16 | 25.47 | 15.45 | 16.69 |
| P/OCF Ratio | 14.43 | 13.34 | 13.59 | 22.38 | 14.27 | 14.43 |
| PEG Ratio | 1.52 | 0.53 | 0.50 | 0.89 | 0.83 | 1.05 |
| EV/Sales Ratio | 6.29 | 4.49 | 3.69 | 3.58 | 2.35 | 3.09 |
| EV/EBITDA Ratio | 15.21 | 11.29 | 11.12 | 33.30 | 17.03 | 14.76 |
| EV/EBIT Ratio | 15.63 | 11.66 | 11.58 | 38.32 | 18.79 | 15.46 |
| EV/FCF Ratio | 13.52 | 11.88 | 11.90 | 22.36 | 11.31 | 12.79 |
| Debt / Equity Ratio | 0.09 | 0.09 | 0.10 | 0.10 | 0.08 | 0.03 |
| Debt / EBITDA Ratio | 0.15 | 0.21 | 0.29 | 0.93 | 0.85 | 0.18 |
| Debt / FCF Ratio | 0.14 | 0.23 | 0.32 | 0.74 | 0.62 | 0.16 |
| Net Debt / Equity Ratio | -0.68 | -0.68 | -0.68 | -0.67 | -0.44 | -0.64 |
| Net Debt / EBITDA Ratio | -1.20 | -1.59 | -2.13 | -7.67 | -4.95 | -4.70 |
| Net Debt / FCF Ratio | -1.07 | -1.67 | -2.28 | -5.15 | -3.29 | -4.07 |
| Asset Turnover | 0.94 | 0.80 | 0.74 | 0.61 | 0.57 | 0.60 |
| Inventory Turnover | 3.26 | 3.80 | 3.84 | 2.87 | 1.91 | 2.18 |
| Quick Ratio | 2.99 | 3.35 | 3.45 | 3.16 | 4.72 | 5.19 |
| Current Ratio | 3.21 | 3.56 | 3.63 | 3.34 | 4.99 | 5.43 |
| Return on Equity (ROE) | 44.32% | 35.53% | 23.13% | 8.74% | 7.76% | 11.30% |
| Return on Assets (ROA) | 23.52% | 19.27% | 14.64% | 3.55% | 4.43% | 7.54% |
| Return on Invested Capital (ROIC) | 73.33% | 55.98% | 37.25% | 9.60% | 14.33% | 29.54% |
| Return on Capital Employed (ROCE) | 47.80% | 36.60% | 27.10% | 6.70% | 7.30% | 12.60% |
| Earnings Yield | 4.82% | 6.63% | 5.48% | 2.79% | 3.52% | 4.00% |
| FCF Yield | 6.86% | 7.42% | 7.06% | 3.93% | 6.47% | 5.99% |
| Buyback Yield / Dilution | 7.47% | 4.82% | 7.88% | 0.95% | -0.68% | -1.37% |