Exelixis vs Natera
Exelixis and Natera are similar in size: $2.32bn and $2.31bn of revenue in their latest fiscal years. Natera grew faster (35.9% against 7.0%). Exelixis kept more of each dollar of sales as profit: a net margin of 33.7% against -9.0%. Exelixis carries less debt relative to equity (0.0% against 4.7%).
| Latest fiscal year | ExelixisEXEL, 2025 | NateraNTRA, 2025 |
|---|---|---|
| Revenue | $2.32bn | $2.31bn |
| Revenue growth | 7.0% | 35.9% |
| Net income | $783m | −$208m |
| Operating margin | 37.6% | -13.4% |
| Net margin | 33.7% | -9.0% |
| Return on equity | 35.5% | -14.3% |
| Free cash flow | $876m | $109m |
| Cash | $482m | $1.08bn |
| Total debt | $0 | $80.3m |
| Debt to equity | 0.0% | 4.7% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $948m | — |
| Employees | 1,077 | — |
| Market value | $17.70bn | $56.04bn |
| Price vs our value range | Within our value range | — |
| Moat score | 74 (Strong) | 17 (Weak) |
| Insider trades, 12 months | 1 buys, 32 sales | 0 buys, 511 sales |