Exelixis, Inc.

Exelixis, Inc.

EXELยทNASDAQ

$51.60

+6.3%
HealthcareBiotechnology

Exelixis, Inc., an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with 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 advanced melanoma; and MINNEBRO, an oral non-steroidal selective blocker of the mineralocorticoid receptor for the treatment of hypertension in Japan. In addition, it is developing XL092, an oral tyrosine kinase inhibitor that targets VEGF receptors, MET, AXL, MER, and other kinases implicated in growth and spread of cancer; XB002, an antibody-drug conjugate composed of human mAb against tissue factor (TF) for the treatment of advanced solid tumors; XL102, an orally bioavailable cyclin-dependent kinase 7 (CDK7) inhibitor for the treatment of advanced or metastatic solid tumors; and XB002 for the treatment of non-hodgkin's lymphoma. Exelixis, Inc. has research collaborations and license agreements with Ipsen Pharma SAS; Takeda Pharmaceutical Company Ltd.; F. Hoffmann-La Roche Ltd.; Redwood Bioscience, Inc.; R.P. Scherer Technologies, LLC; Catalent Pharma Solutions, Inc.; NBE Therapeutics AG; Aurigene Discovery Technologies Limited; Iconic Therapeutics, Inc.; Invenra, Inc.; StemSynergy Therapeutics, Inc.; Genentech, Inc.; Bristol-Myers Squibb Company; and Daiichi Sankyo Company, Limited. 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.

At a Glance

Live Snapshot
Market Cap$12.97B
EPS2.8800
P/E Ratio17.92
Earnings Date07/27/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is mid-range (P/E 17.9).

Valuation inputs: P/E 17.9, earnings yield +5.6%, momentum +6.3%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is strong (ROE +36.2%, ROIC +29.7%).

Profitability stack: net margin +33.7%, ROE +36.2%, ROIC +29.7%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile looks controlled across current risk inputs.

Risk factors: liabilities/assets +24.0%, momentum +6.3%, net margin +33.7%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

exel

Exelixis, Inc. Market vs Earnings Trajectory

EXEL ยท NASDAQ

Loading price and EPS data...

Exelixis, Inc.

Exelixis, Inc. Fair Value Envelope

EXEL ยท NASDAQ

Our analysis suggests that EXEL has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $51.6, this represents a potential HIDDEN relative to our calculated worth for Exelixis, Inc..

Intrinsic Value
Current Price: $51.6
3Y+405.0%
5Y+700.0%
10Y-1129.0%
3Y+44.0%
5Y+135.0%
10Y+1112.0%
3Y+329.0%
5Y+600.0%
10Y-1214.0%
3Y+144.0%
5Y+323.0%
10Y+329.0%
3Y+277.0%
5Y+373.0%
10Y+313.0%
3Y-7.0%
5Y+33.0%
10Y+376.0%
Exelixis, Inc.

Exelixis, Inc. Profit Bridge

EXEL ยท NASDAQ
Revenue2.32B
Cost of Goods Sold (83.70M)
Gross Profit2.24B
Operating Expenses (1.36B)
Operating Income872.19M
Interest Expense (0.00)
Other Income/Expense69.02M
Pretax Income941.21M
Income Tax (158.64M)
Net Income782.57M
Net Income
782.57M

Profitability Analysis

Gross Margin

96.4%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

37.6%

Outstanding operational efficiency. The company generates substantial profit from core operations.

Net Profit Margin

33.7%

Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.

Effective Tax Rate

16.9%

Moderate tax rate typical for most corporations. Represents standard tax burden on profits.

Profitability Insight

Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.

96.39%
Gross Profit Margin
3Y-
5Y-
10Y-
37.59%
Operating Profit Margin
35%
3Y+201.0%
5Y+237.0%
10Y-356.0%
33.73%
Net Profit Margin
40%
3Y+198.0%
5Y+198.0%
10Y-192.0%
36.21%
Return on Equity
56%
3Y+394.0%
5Y+509.0%
10Y-146.0%
27.51%
Return on Assets
56%
3Y+364.0%
5Y+426.0%
10Y-334.0%
29.74%
Return on Invested Capital
64%
3Y+421.0%
5Y+511.0%
10Y-646.0%
EXEL

Exelixis, Inc. Cash Conversion Engine

EXEL ยท NASDAQ
Net Income782.57M
Depreciation & Amortization29.05M
Stock-Based Compensation112.98M
Change in Working Capital-191.20M
Others24.62M
Capital Expenditures-39.93M
Free Cash Flow844.34M

Cash Flow Quality Analysis

FCF Conversion Rate

107.9%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

4.5%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+33.2%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

-$191.20M

Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

exel

Exelixis, Inc. Funding & Solvency Profile

EXEL ยท NASDAQ
Cash & Cash Equivalents226.15M
Net Receivables328.95M
Inventory26.61M
Other Current Assets75.88M
Total Current Assets1 B
Property, Plant & Equipment378.40M
Goodwill & Intangible Assets63.68M
Long-Term Investments0.00
Other Non-Current Assets649.14M
Total Non-Current Assets1 B
Total Assets
2.59B

Financial Health Analysis

Current Ratio

3.26x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

0.34x

Conservative capital structure. The company relies primarily on equity financing, indicating low financial risk.

Working Capital

838 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

47% Current

Balanced asset mix between current and non-current assets, typical of many stable businesses.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

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Exelixis, Inc. Street Expectations Map

EXEL ยท NASDAQ

Wall Street analysts project that EXEL stock may see slight declines over the coming 12 months. The consensus 1-year price target stands at 47.33, with estimates ranging from a low of 41.00 to a high of 54.00.

Lowest Target
41.00
-20.54%
Consensus Target
47.33
-8.28%
Highest Target
54.00
4.65%

The consensus 1-year price target stands at 47.33, with estimates ranging from a low of 41.00 to a high of 54.00.

Analyst Consensus Analysis

Upside Potential

-8.3%

Downside risk. Current price above analyst targets indicates potential overvaluation. Exercise caution and review catalysts.

Analyst Agreement

27.5% spread

Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.

Risk-Reward Profile

0.23x

Unfavorable risk-reward. Downside risk exceeds upside potential. Consider defensive positioning or alternative opportunities.

Analyst Conviction

Low

Bearish or uncertain outlook. Limited upside or poor consensus suggests challenges ahead or fundamental concerns.

Market Sentiment Insight

Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.

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Exelixis, Inc. Insider Positioning

EXEL ยท NASDAQ

During the last 12 months, insiders have purchased $1.19M and sold $33.33M worth of EXEL shares, resulting in $32.14M of net selling activity.

3 Months

Bought

0

0.00

Sold

205.4K

9.93M

Net Activity

-9.9M

-$9.93M

3-6 Months

Bought

0

0.00

Sold

331.8K

14.58M

Net Activity

-14.6M

-$14.58M

6-9 Months

Bought

27.5K

1.19M

Sold

205.3K

8.82M

Net Activity

-7.6M

-$7.63M

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

1
JDE

Johnson David Edward

Director

27.5K sharesโ€ข1 transactions

$1.19M

Top Sellers

1
AD

Aftab Dana

Officer: Evp, Research And Development

169.6K sharesโ€ข4 transactions

$7.70M

2
SCJ

Senner Christopher J.

Officer: Evp And Cfo

99.8K sharesโ€ข3 transactions

$4.56M

3
WJL

Wyszomierski Jack L

Director

99.6K sharesโ€ข1 transactions

$4.38M

4
PS

Papadopoulos Stelios

Director

100.0K sharesโ€ข1 transactions

$4.36M

5
SJ

Smith Julie

Director

86.5K sharesโ€ข2 transactions

$3.80M

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $32.14M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.04:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Recent Trend (3 Months)

$9.93M

Heavy recent selling activity. Recent insider sales notably exceed purchasesโ€”may warrant investigation into company developments.

Insider Participation

High Selling

5 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.

Insider Activity Insight

Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.

No Dividend Yield Data

EXEL has not reported any dividend yield values in the available annual periods.

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exel Dividend History

EXEL
10Y CAGR +0%
Latest $0
Annual $0
Stable dividend payments
Last Period: +0%