ARS Pharmaceuticals vs Xencor
Xencor is the larger business, with $126m of revenue in fiscal 2025 against $84.3m for ARS Pharmaceuticals (1.5 times as much). Xencor grew faster (13.7% against -5.5%). Xencor kept more of each dollar of sales as profit: a net margin of -73.2% against -203.3%.
| Latest fiscal year | ARS PharmaceuticalsSPRY, 2025 | XencorXNCR, 2025 |
|---|---|---|
| Revenue | $84.3m | $126m |
| Revenue growth | -5.5% | 13.7% |
| Net income | −$171m | −$91.9m |
| Operating margin | — | — |
| Net margin | -203.3% | -73.2% |
| Return on equity | -92.3% | -14.0% |
| Free cash flow | −$171m | −$138m |
| Cash | $41.3m | $54.1m |
| Total debt | $96.4m | $120m |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 158 | 260 |
| Market value | $298m | $2.29bn |
| Price vs our value range | — | — |
| Moat score | — | 11 (Weak) |
| Insider trades, 12 months | 0 buys, 5 sales | 0 buys, 18 sales |