Exelixis, Inc.
EXEL Healthcare Biotechnology
Exelixis, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 6.98% from fiscal 2024. In the quarter to June 2026, revenue grew 10.6%, EPS grew 25.0% and free cash flow grew 557.3%, each against the same quarter a year earlier. Revenue growth for ten consecutive years; insiders bought in the last twelve months.
Follow EXEL
Exelixis, Inc. (EXEL) Piotroski F-score
Exelixis, Inc.'s Piotroski F-score for fiscal 2025 is 7 out of 9: 7 of nine tests of profitability, leverage and efficiency passed, down from 9 in fiscal 2024.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 7 | (2.00) |
| FY2024 | 9 | 2.00 |
| FY2023 | 7 | 2.00 |
| FY2022 | 5 | (1.00) |
| FY2021 | 6 | 2.00 |
| FY2020 | 4 | 0.00 |
| FY2019 | 4 | (3.00) |
| FY2018 | 7 | 0.00 |
| FY2017 | 7 | 1.00 |
| FY2016 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 27.02% | 17.70% | Pass | 1 |
| Positive operating cash flow | 884.27m | 699.97m | Pass | 1 |
| Rising return on assets | 27.02% | 17.70% | Pass | 1 |
| Cash flow above net income | 101.70m | 178.70m | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 3.56 | 3.63 | Fail | 0 |
| No new shares issued | 271,567,000 | 290,030,000 | Pass | 1 |
| Rising gross margin | 96.39% | 96.49% | Fail | 0 |
| Rising asset turnover | 0.80 | 0.74 | Pass | 1 |
| Piotroski F-score | Strong — most fundamentals improved | 7 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| TECH Bio-Techne Corp compare | 9 |
| EXEL Exelixis, Inc. | 7 |
| HALO Halozyme Therapeutics, Inc. compare | 5 |
| ASND Ascendis Pharma A/S compare | 5 |
| JAZZ Jazz Pharmaceuticals PLC compare | 5 |
| INSM Insmed, Inc. compare | 4 |
| CORT Corcept Therapeutics Incorporated compare | 4 |
| BBIO BridgeBio Pharma, Inc. compare | 3 |
| SMMT Summit Therapeutics PLC compare | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover