What is the 13F Pro Quality Score for EXEL?

13F Pro ranks EXELIXIS, INC. (EXEL) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View EXEL's current score at https://13fpro.ai/research/EXEL (free sign-up required for the full ranking).

Where does 13F Pro source EXEL data?

All EXELIXIS, INC. fundamentals and ownership data come directly from SEC EDGAR. EXELIXIS, INC. files with the SEC under CIK 939767. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is EXEL in?

EXELIXIS, INC. (EXEL) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

What drives EXEL's revenue?

Per EXELIXIS, INC.'s latest 10-Q filed with the SEC on 2026-05-05, the biggest revenue drivers are: Net product revenues ($555.0M, +8% YoY); License revenues ($56.9M, +34% YoY); Collaboration services revenues (($1.1M), +252% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/EXEL.

What are EXEL's largest expenses?

EXELIXIS, INC.'s latest 10-Q reports these as the largest expense items: Research and development ($199.9M, -6% YoY); Selling, general and administrative ($139.6M, +2% YoY). Sourced directly from SEC EDGAR filing text for Q1 FY2026 (quarter ended April 3, 2026).

How often is EXEL research updated on 13F Pro?

EXEL's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

EXELIXIS, INC.(EXEL)Stock Analysis

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13F Pro Quality Score

79.4/100

Rank #55 of 2,879 stocksTOP 5%

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

74.0/100

Profitability

92.6/100

Balance Sheet

98.4/100

Earnings Quality

93.4/100

Free Cash Flow

88.1/100

Institutional Flow

47.9/100

Revenue Scale

65.1/100

Dilution Risk

26.2/100

EXEL Stock Analysis & AI Quality Score

AI stock analysis and institutional research for EXELIXIS, INC. (EXEL), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores EXEL at 79.4/100 on a 32-signal composite quality model, placing it at rank #55 of 2,879 stocks — the top 5% of the AI-ranked universe. EXEL scores in the top quartile across balance sheet strength (98.4), earnings quality (93.4), profitability (92.6). Shareholder dilution risk is elevated at 26.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), EXELIXIS, INC. reports quarterly revenue of $610.8M, net income of $210.5M, an operating margin of 41.1%. Top institutional holders of EXEL by reported 13-F value include BlackRock,, RENAISSANCE TECHNOLOGIES, FARALLON CAPITAL MANAGEMENT, based on the most recent SEC filings. EXEL trades on the Nasdaq exchange and files with the SEC under CIK 939767. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate EXEL daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for EXELIXIS, INC. directly from SEC EDGAR. EXELIXIS, INC.'s 13F Pro composite quality score has ranged between 8 and 83 since 2021, currently 79.4 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.

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Fun facts about EXELIXIS, INC.

Quirks, history, and lore behind EXEL — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. biopharmaceutical company · small-to-mid cap · listed on Nasdaq · headquartered in Northern California.
2
The Numbers
Annual revenue in the range of roughly $1–2 billion, driven almost entirely by a single blockbuster drug — a remarkably concentrated bet for a public company.
3
The History
Founded in the late 1990s as a genomics-era startup, it pivoted hard into oncology and spent years in clinical-stage purgatory before finally hitting gold.
4
The Secret
Its core expertise is kinase inhibitor chemistry — molecules that jam the signaling switches cancer cells rely on to grow and spread.
5
The Lore
Its lead compound targets the MET and VEGFR2 pathways and has won approvals across multiple tumor types, including kidney and thyroid cancers — a rare multi-indication win for a small biotech.
6
The Giveaway
One word: cabozantinib — sold as Cabometyx — the kinase inhibitor that turned this genomics relic into a genuine oncology powerhouse.

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What's Driving EXEL's Business? Latest 10-Q Breakdown

AI-extracted from EXELIXIS, INC.'s 10-Q filed 2026-05-05 — Q1 FY2026 (quarter ended April 3, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Exelixis Q1 2026 revenue grew 10% YoY to $610.8M driven by CABOMETYX unit volume growth and collaboration milestones, while net income surged 32% to $210.5M.

Biggest Revenue Drivers

Total revenue: $610.8M+10% YoY

Net product revenues$555.0M+8% YoY

7% increase in CABOMETYX units sold, reflecting continuing demand for CABOMETYX in combination with nivolumab for first-line advanced RCC and previously treated advanced NET

License revenues$56.9M+34% YoY

Increase driven by higher royalty revenues from Ipsen (up to $43.5M) due to increased net sales of cabozantinib outside U.S. and Japan, plus $8.0M commercial milestone from Takeda

Collaboration services revenues($1.1M)+252% YoY

Net negative due to royalty payments to Royalty Pharma on partner sales exceeding development cost reimbursements

Largest Expense Items

Research and development$199.9M-6% YoY

Decrease primarily from lower clinical trial costs for cabozantinib and zanzalintinib studies, partially offset by higher drug discovery license costs

Selling, general and administrative$139.6M+2% YoY

Increase driven by marketing for anticipated zanzalintinib launch, legal and advisory fees, and personnel expenses

Margins: Gross margin remained stable at 96% for both periods. Operating margin expanded to 41% in Q1 2026 from 34% in Q1 2025, driven by revenue growth and lower R&D expenses, reflecting shift in spending priorities and milestone achievements in development programs.

Watch Items from the Filing

Three customers (Cencora affiliates 22%, McKesson 18%, CVS Health 16%) represent 56% of Q1 2026 product revenues; distributor concentration creates customer revenue volatility risk.
Multiple CABOMETYX generic ANDA litigations pending: MSN, Azurity, Handa, and others; consolidated trial scheduled November 2, 2026. Generic approval could materially harm U.S. CABOMETYX revenues.
Qualified for Medicare 'specified small manufacturer' designation enabling phase-in of Part D Discount Program increased rebates through 2031; MFN pricing initiatives also under review.
Zanzalintinib NDA submitted December 2025 with PDUFA decision date December 3, 2026; positive Phase 3 STELLAR-303 data in CRC shows 20% reduction in death risk versus regorafenib.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$610.8M

Net Income

Q1 2026

$210.5M

Free Cash Flow

Q1 2026

$250.3M

Operating Margin

Q1 2026

41.1%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+7.0% YoY

$2.32BFY 2025

FY21 $1.43BFY22 $1.61BFY24 $2.17BFY25 $2.32B

Net Income

+50.1% YoY

$782.6MFY 2025

FY21 $231.1MFY22 $182.3MFY24 $521.3MFY25 $782.6M

Operating Income

+44.3% YoY

$872.2MFY 2025

FY21 $286.7MFY22 $201.5MFY24 $604.6MFY25 $872.2M

EPS (Diluted)

+58.0% YoY

$2.78FY 2025

FY21 $0.72FY22 $0.56FY24 $1.76FY25 $2.78

Total Assets

-3.5% YoY

$2.84BFY 2025

FY21 $2.62BFY22 $3.07BFY24 $2.95BFY25 $2.84B

Op. Cash Flow

+26.3% YoY

$884.3MFY 2025

FY21 $400.8MFY22 $362.6MFY24 $700.0MFY25 $884.3M

Metric	FY 2025	FY 2024	FY 2022	FY 2021	FY 2020	FY 2019
Revenue	$2.32B +7.0%	$2.17B +34.6%	$1.61B +12.3%	$1.43B +45.3%	$987.5M +2.0%	$967.8M
Net Income	$782.6M +50.1%	$521.3M +186.0%	$182.3M -21.1%	$231.1M +106.7%	$111.8M -65.2%	$321.0M
Operating Income	$872.2M +44.3%	$604.6M +200.1%	$201.5M -29.7%	$286.7M +160.5%	$110.1M -70.2%	$369.5M
EPS (Diluted)	$2.78 +58.0%	$1.76 +214.3%	$0.56 -22.2%	$0.72 +105.7%	$0.35 -65.7%	$1.02
Total Assets	$2.84B -3.5%	$2.95B -4.0%	$3.07B +17.4%	$2.62B +22.4%	$2.14B +13.3%	$1.89B
Operating Cash Flow	$884.3M +26.3%	$700.0M +93.0%	$362.6M -9.5%	$400.8M +91.8%	$209.0M -60.3%	$527.0M

AI Insight: EXEL Financial Trends

EXEL's Q2 2026 operating income hit $251M on $611M revenue, but equity erosion to $1,936M signals accelerating capital returns or buybacks offsetting profit growth.

• Revenue recovered steadily from $540M in Q3 2024 to $611M in Q2 2026, marking a multi-quarter upward grind.

• Operating income expanded from $136M in Q3 2024 to $251M in Q2 2026, with operating margin improving meaningfully across the period.

• Net income rose from $118M in Q3 2024 to $245M in Q1 2026 before dipping to $210M in Q2 2026, a notable sequential step-back.

• Operating cash flow collapsed to $49M in Q3 2025 before rebounding sharply to $334M in Q1 2026 — high volatility warrants scrutiny.

⚠ Equity declined from $2,275M in Q3 2024 to $1,936M in Q2 2026 despite consistent profitability — capital return pace is accelerating.

⚠ Net income dropped $35M sequentially in Q2 2026 even as operating income rose — below-the-line items deserve close examination.

⚠ Operating CF swings ($49M to $334M) suggest working capital or timing distortions; Q3 2026 will test whether $334M is sustainable.

AI Insight: EXEL Ratio Trends

EXEL's profitability has staged a strong recovery since Q3 2024's trough, with Q2 2026 operating margin of 41.1% and ROIC of 51.9% approaching peak Q2 2024 levels.

• Operating margin rebounded from 25.2% in Q3 2024 to 41.1% in Q2 2026, recovering nearly all ground lost in the mid-2024 dip.

• ROIC recovered from a trough of 23.9% in Q3 2024 to 51.9% in Q2 2026, just below the Q2 2024 peak of 52.1%.

• ROA improved from 15.9% in Q3 2024 to 32.5% in Q2 2026, signaling more efficient asset utilization over six quarters.

• D/E data is absent across all periods, limiting leverage and balance sheet trend assessment.

⚠ Net profit margin spiked to 40.8% in Q1 2026 then pulled back to 34.5% in Q2 2026 — the Q1 spike may reflect a one-off item worth investigating.

⚠ Q3 2024 saw a sharp cross-metric deterioration — if a seasonal or pipeline-related pattern, a similar dip in Q3 2026 is a key watch.

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Available Research

13F Pro tracks comprehensive data for EXELIXIS, INC. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of EXEL

BlackRock, Inc.
$1.3B30,816,309 sh
RENAISSANCE TECHNOLOGIES LLC
$588.8M13,726,993 sh
FARALLON CAPITAL MANAGEMENT LLC
$562.3M13,111,010 sh
AQR CAPITAL MANAGEMENT LLC
$561.7M13,095,741 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$518.3M12,085,273 sh
VANGUARD CAPITAL MANAGEMENT LLC
$482.9M11,258,984 sh
STATE STREET CORP
$441.7M10,298,439 sh
FULLER & THALER ASSET MANAGEMENT, INC.
$366.4M8,542,236 sh
GEODE CAPITAL MANAGEMENT, LLC
$334.4M7,795,610 sh
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP
$207.4M4,834,625 sh

Fund	Value	Shares
BlackRock, Inc.	$1.3B	30,816,309
RENAISSANCE TECHNOLOGIES LLC	$588.8M	13,726,993
FARALLON CAPITAL MANAGEMENT LLC	$562.3M	13,111,010
AQR CAPITAL MANAGEMENT LLC	$561.7M	13,095,741
VANGUARD PORTFOLIO MANAGEMENT LLC	$518.3M	12,085,273
VANGUARD CAPITAL MANAGEMENT LLC	$482.9M	11,258,984
STATE STREET CORP	$441.7M	10,298,439
FULLER & THALER ASSET MANAGEMENT, INC.	$366.4M	8,542,236
GEODE CAPITAL MANAGEMENT, LLC	$334.4M	7,795,610
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	$207.4M	4,834,625

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Is EXEL a good stock to buy?

13F Pro's AI-powered analysis of EXELIXIS, INC. (EXEL) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for EXEL are available on the EXEL stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own EXEL?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling EXEL. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of EXELIXIS, INC.'s investment landscape.