Exelixis vs United Therapeutics
United Therapeutics is the larger business, with $3.18bn of revenue in fiscal 2025 against $2.32bn for Exelixis (1.4 times as much). United Therapeutics grew faster (10.6% against 7.0%). United Therapeutics kept more of each dollar of sales as profit: a net margin of 41.9% against 33.7%.
| Latest fiscal year | ExelixisEXEL, 2025 | United TherapeuticsUTHR, 2025 |
|---|---|---|
| Revenue | $2.32bn | $3.18bn |
| Revenue growth | 7.0% | 10.6% |
| Net income | $783m | $1.33bn |
| Operating margin | 37.6% | 46.9% |
| Net margin | 33.7% | 41.9% |
| Return on equity | 35.5% | 19.7% |
| Free cash flow | $876m | $1.04bn |
| Cash | $482m | $1.56bn |
| Total debt | $0 | — |
| Debt to equity | 0.0% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $948m | $1.00bn |
| Employees | 1,077 | 1,400 |
| Market value | $17.70bn | $25.65bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 74 (Strong) | 75 (Strong) |
| Insider trades, 12 months | 1 buys, 32 sales | 1 buys, 2808 sales |