Exelixis
EXEL · Biotechnology
$64.53
1.2%Halozyme
HALO · Biotechnology
$125.63
0.9%The short version
- Exelixis is the larger business, with $2.3B of revenue in fiscal 2025 against $1.4B for Halozyme, about 1.7 times as much.
- Halozyme grew revenue faster (37.6%, against 7.0%).
- Exelixis kept more of each dollar of sales as operating profit (37.6% operating margin, against 33.6% operating margin).
- Halozyme turned more of its sales into free cash flow (46.2% FCF margin, against 37.8% FCF margin).
- Exelixis earned a higher return on the capital invested in it (64.9%, against 19.2%).
- Investors pay more for each dollar of Halozyme’s earnings: a P/E of 36.6x against 20.3x for Exelixis.
| Latest fiscal year | EXEL · FY25 | HALO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $16.8B | $15.2B |
| Revenue | $2.3B | $1.4B |
| Free cash flow | $876M | $645M |
| Net income | $783M | $317M |
| Growth | ||
| Revenue growth | 7.0% | 37.6% |
| 5-year growth | 18.6% | 39.2% |
| Share count change | −4.8% | −4.3% |
| Profitability | ||
| Gross margin | 96.4% | 83.6% |
| Operating margin | 37.6% | 33.6% |
| Net margin | 33.7% | 22.7% |
| FCF margin | 37.8% | 46.2% |
| Return on capital | 64.9% | 19.2% |
| Return on equity | 35.5% | 153.6% |
| Balance sheet | ||
| Net debt | −$1.1B | $2.0B |
| Net debt / EBITDA | −1.2x | 4.2x |
| Dividends and buybacks | $948M | $342M |
| Valuation & quality | ||
| P/E | 20.3x | 36.6x |
| Piotroski F-score | 6 | 5 |
FY16
EXEL $192M
HALO $147M
FY17
EXEL $453M
HALO $317M
FY18
EXEL $854M
HALO $152M
FY19
EXEL $968M
HALO $196M
FY20
EXEL $988M
HALO $268M
FY21
EXEL $1.4B
HALO $443M
FY22
EXEL $1.6B
HALO $660M
FY23
EXEL $1.8B
HALO $829M
FY24
EXEL $2.2B
HALO $1.0B
FY25
EXEL $2.3B
HALO $1.4B
EXEL
HALO
FY16
EXEL −14.7%
HALO −56.7%
FY17
EXEL 36.7%
HALO 25.6%
FY18
EXEL 51.4%
HALO −45.7%
FY19
EXEL 38.2%
HALO −34.5%
FY20
EXEL 11.1%
HALO 53.9%
FY21
EXEL 20.0%
HALO 62.2%
FY22
EXEL 12.5%
HALO 40.5%
FY23
EXEL 9.3%
HALO 40.7%
FY24
EXEL 27.9%
HALO 54.3%
FY25
EXEL 37.6%
HALO 33.6%
EXEL
HALO
FY16
EXEL $205M
HALO −$53.5M
FY17
EXEL $144M
HALO $133M
FY18
EXEL $382M
HALO −$54.2M
FY19
EXEL $514M
HALO −$89.5M
FY20
EXEL $179M
HALO $53.0M
FY21
EXEL $347M
HALO $298M
FY22
EXEL $335M
HALO $235M
FY23
EXEL $293M
HALO $373M
FY24
EXEL $672M
HALO $468M
FY25
EXEL $876M
HALO $645M
EXEL
HALO
FY16
EXEL —
HALO −103.0%
FY17
EXEL —
HALO 61.2%
FY18
EXEL 178.6%
HALO −28.1%
FY19
EXEL 41.7%
HALO −38.2%
FY20
EXEL 12.5%
HALO —
FY21
EXEL 31.8%
HALO —
FY22
EXEL 16.3%
HALO 27.9%
FY23
EXEL 11.3%
HALO 21.3%
FY24
EXEL 38.5%
HALO 34.9%
FY25
EXEL 64.9%
HALO 19.2%
EXEL
HALO
Add another company
Compare up to four at once.
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.