Exelixis vs Moderna
Exelixis is the larger business, with $2.32bn of revenue in fiscal 2025 against $1.94bn for Moderna (1.2 times as much). Exelixis grew faster (7.0% against -39.9%). Exelixis kept more of each dollar of sales as profit: a net margin of 33.7% against -145.2%. Exelixis carries less debt relative to equity (0.0% against 6.8%).
| Latest fiscal year | ExelixisEXEL, 2025 | ModernaMRNA, 2025 |
|---|---|---|
| Revenue | $2.32bn | $1.94bn |
| Revenue growth | 7.0% | -39.9% |
| Net income | $783m | −$2.82bn |
| Operating margin | 37.6% | -158.1% |
| Net margin | 33.7% | -145.2% |
| Return on equity | 35.5% | -28.9% |
| Free cash flow | $876m | −$2.06bn |
| Cash | $482m | $2.60bn |
| Total debt | $0 | $590m |
| Debt to equity | 0.0% | 6.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $948m | $2.0m |
| Employees | 1,077 | 4,700 |
| Market value | $17.70bn | $90.21bn |
| Price vs our value range | Within our value range | — |
| Moat score | 74 (Strong) | 26 (Weak) |
| Insider trades, 12 months | 1 buys, 32 sales | 0 buys, 22 sales |