Exelixis, Inc. (EXEL)

From the record

Exelixis, Inc.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

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Exelixis, Inc.'s 10 filed years say what it did: revenue went from $191 million in fiscal 2016 to $2.3 billion in fiscal 2026, up 31.9% a year; it rose in 9 of 9 years; it never fell from a peak; net income was positive in 9 of 10 of those years (its annual reports).

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Over the 3 fiscal years to 2026-01-02, Exelixis, Inc.'s diluted share count shrank about 4.6% a year, and dividends and buybacks returned about 100% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 32 sales (7 under scheduled 10b5-1 plans) and 1 purchase of their own stock on the open market in the year to 2026-09-30, buying about $1 million (their Form 4 filings).

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Return on equity: in the fiscal year ended 2026-01-02, Exelixis, Inc. earned about 36 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 79 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 24 cents per dollar of assets, and net share issuance: its share count shrank 4.8% over the year (the filed statements).

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Exelixis, Inc.'s standing among 102 graded names in its industry family: revenue of $2.3 billion in fiscal 2026 ranks in the top 4% by size; a net margin of 33.7% ranks in the top 5%; revenue growth of 12.9% a year over the last 3 filed years ranks in the top 43% (its annual reports).

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Exelixis, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Morrissey, Michael (President and CEO, as filed), filing under that title since 2010-08-17, 16.2 years (top 1% of its family); the 15 officers and directors filing in the last fifteen months have been on the record a median of 8.6 years (top 5%); 8 officer or director changes were reported on Form 8-K since 2023-11-13, against the 15 people in charge now (bottom 45%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

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Exelixis, Inc.'s room to grow, from the newest filed statements (fiscal 2026): cash of $482 million against no long-term debt tagged leaves 17% of its assets as net cash, bottom 29% of its family; cash from operations less capital spending is 37.7% of revenue (top 6%); a gross margin of 96.4% (top 22%); research spending of 35.6% of revenue (bottom 27%) (its annual report).

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Exelixis, Inc.'s growth drivers, from the filed years to fiscal 2026: revenue grew 12.9% a year over the last three filed years against 31.9% over all 10, slowing (bottom 29% of its family); the newest year grew 7% (bottom 44%); research spending grew -2.6% a year (bottom 38%); capital spending grew -32.7% a year (bottom 49%) (its annual reports). Exelixis, Inc. reported 3 product lines in fiscal 2025: Cabometyx at $2.1 billion (91%), Collaboration at $197 million (9%), Cometriq at $9 million (0%); 1 of 3 grew against the year before (its annual report).

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Exelixis, Inc.'s newest year against its own record: revenue of $2.3 billion in fiscal 2026 came in 7.7% below the $2.5 billion its prior three years' pace pointed to (bottom 32% of its family); net income of $783 million against a prior three-year average of $304 million (top 10%); a net margin of 33.7% against 15.6% before (bottom 48%) (its annual reports).