Septerna vs Xencor
Xencor is the larger business, with $126m of revenue in fiscal 2025 against $46.0m for Septerna (2.7 times as much). Septerna grew faster (4174.5% against 13.7%). Xencor kept more of each dollar of sales as profit: a net margin of -73.2% against -106.4%.
| Latest fiscal year | SepternaSEPN, 2025 | XencorXNCR, 2025 |
|---|---|---|
| Revenue | $46.0m | $126m |
| Revenue growth | 4174.5% | 13.7% |
| Net income | −$48.9m | −$91.9m |
| Operating margin | -148.6% | — |
| Net margin | -106.4% | -73.2% |
| Return on equity | -12.2% | -14.0% |
| Free cash flow | $110m | −$138m |
| Cash | $121m | $54.1m |
| Total debt | $0 | $120m |
| Debt to equity | 0.0% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 130 | 260 |
| Market value | $1.98bn | $2.29bn |
| Price vs our value range | Above our value range | — |
| Moat score | — | 11 (Weak) |
| Insider trades, 12 months | 0 buys, 28 sales | 0 buys, 18 sales |