Exelixis, Inc. (EXEL) Stock

Exelixis, Inc. (EXEL) is a Healthcare stock trading at $53.68 (as of 2026-08-20), with a market capitalization of $13.30B and a trailing P/E of 15.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Exelixis, Inc. develops and commercializes oncology medicines, including CABOMETYX and COMETRIQ for certain advanced cancers in the United States, along with COTELLIC for advanced melanoma. It also offers MINNEBRO for hypertension in Japan and is developing additional therapies for solid tumors and other cancer types.

Understand Exelixis, Inc.: how it makes money

Exelixis is an oncology biotechnology company that discovers, develops, and commercializes cancer medicines, it makes money primarily from net product revenues for its cabozantinib-based products, including CABOMETYX tablets and COMETRIQ capsules.

Exelixis profit is structurally tied to the durability of its cabozantinib, CABOMETYX franchise net product revenues, because the company commercializes its key products as cabozantinib-based therapies and tracks revenues through the global Cabo franchise revenue line.

Revenue by segment (latest quarter)
Cabo franchise$0.6B

Business quality (Strong): The available data strongly links company performance to Cabo franchise net product revenues, but the provided information does not show a complete, mutually exclusive segment split across CABOMETYX versus COMETRIQ.

Valuation: At 17× earnings, EXEL trades in line with the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

  • Core revenue driver is clearly identified: The largest listed operating metric is Global Cabo franchise net product revenues, supporting the idea that ongoing demand for the cabozantinib-based franchise drives results.
  • High profitability profile in the provided quarter: The latest period shows gross margin of 96.7% and operating margin of 41.1%, indicating strong conversion of revenue into operating profit (based on the provided figures).

Bear case

  • Concentration risk in one franchise revenue line: With the key operating metrics centered on the Cabo franchise, results could be sensitive to any decline in that franchise, even if other pipeline efforts exist.
  • Limited segment visibility in the provided breakdown: The provided segment candidates appear to focus on the Cabo franchise and cabozantinib-related product revenues, with less direct visibility into a complete split covering all marketed products.
Valuation — source: SEC EDGAR (first-party)
Price$53.68
Market Cap$13.30B
P/E Ratio15.5
EV / EBITDA13.0
Price / Book7.21
Price / Sales5.46
FCF Yield8.8%
DCF Value (model)$40.94
DCF Upside vs Price-23.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$2.32B
Net Margin33.7%
Revenue Growth (YoY)10.6%
EPS Growth (YoY)25.0%
FCF Growth (YoY)552.0%
Financial Health — source: SEC EDGAR
Altman Z-Score14.47 (safe)
Valuation vs Sector & Industry
Stock P/E15.5
Sector P/E (Healthcare)21.6
Industry P/E (Pharmaceutical Products)17.2
vs Sector-28.4%
vs Industry-10.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($1.32B)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOMichael Morrissey
Employees1,147
CountryUS
IPO Date2000-04-17

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EXEL earnings history · EXEL institutional & insider holders · EXEL KPIs & operating metrics · EXEL financials · EXEL investor presentations & press releases · EXEL SEC filings · EXEL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.