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Side-by-side financial comparison of Alector, Inc. (ALEC) and EXELIXIS, INC. (EXEL). Click either name above to swap in a different company.
EXELIXIS, INC. is the larger business by last-quarter revenue ($598.7M vs $6.2M, roughly 96.0× Alector, Inc.). EXELIXIS, INC. runs the higher net margin — 40.8% vs -597.5%, a 638.4% gap on every dollar of revenue. On growth, EXELIXIS, INC. posted the faster year-over-year revenue change (5.6% vs -88.5%). Over the past eight quarters, EXELIXIS, INC.'s revenue compounded faster (18.7% CAGR vs -37.4%).
Alector, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative immunotherapies for neurodegenerative diseases. Its product pipeline targets unmet medical needs including Alzheimer’s disease, frontotemporal dementia, and Parkinson’s disease, and it collaborates with global pharmaceutical partners to advance candidate therapies through clinical trials.
Exelixis, Inc. is a genomics-based drug discovery company located in Alameda, California, and the producer of Cometriq, a treatment approved by the U.S. Food and Drug Administration (FDA) for medullary thyroid cancer with clinical activity in several other types of metastatic cancer.
ALEC vs EXEL — Head-to-Head
Income Statement — Q4 2025 vs Q4 2026
| Metric | | |
|---|---|---|
| Revenue | $6.2M | $598.7M |
| Net Profit | $-37.3M | $244.5M |
| Gross Margin | — | 95.6% |
| Operating Margin | -634.4% | 39.3% |
| Net Margin | -597.5% | 40.8% |
| Revenue YoY | -88.5% | 5.6% |
| Net Profit YoY | -1696.9% | 74.8% |
| EPS (diluted) | $-0.34 | $0.89 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $598.7M | ||
| Q4 25 | $6.2M | $597.8M | ||
| Q3 25 | $3.3M | $568.3M | ||
| Q2 25 | $7.9M | $555.4M | ||
| Q1 25 | $3.7M | $566.8M | ||
| Q4 24 | $54.2M | — | ||
| Q3 24 | $15.3M | $539.5M | ||
| Q2 24 | $15.1M | $637.2M |
| Q1 26 | — | $244.5M | ||
| Q4 25 | $-37.3M | $193.6M | ||
| Q3 25 | $-34.7M | $184.8M | ||
| Q2 25 | $-30.5M | $159.6M | ||
| Q1 25 | $-40.5M | $139.9M | ||
| Q4 24 | $-2.1M | — | ||
| Q3 24 | $-42.2M | $118.0M | ||
| Q2 24 | $-38.7M | $226.1M |
| Q1 26 | — | 95.6% | ||
| Q4 25 | — | 96.9% | ||
| Q3 25 | — | 96.6% | ||
| Q2 25 | — | 96.5% | ||
| Q1 25 | — | 96.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 96.8% | ||
| Q2 24 | — | 97.2% |
| Q1 26 | — | 39.3% | ||
| Q4 25 | -634.4% | 39.6% | ||
| Q3 25 | -1153.6% | 37.6% | ||
| Q2 25 | -433.6% | 33.6% | ||
| Q1 25 | -1216.5% | 28.8% | ||
| Q4 24 | -13.4% | — | ||
| Q3 24 | -315.7% | 25.2% | ||
| Q2 24 | -302.4% | 43.3% |
| Q1 26 | — | 40.8% | ||
| Q4 25 | -597.5% | 32.4% | ||
| Q3 25 | -1063.4% | 32.5% | ||
| Q2 25 | -387.7% | 28.7% | ||
| Q1 25 | -1101.6% | 24.7% | ||
| Q4 24 | -3.8% | — | ||
| Q3 24 | -275.2% | 21.9% | ||
| Q2 24 | -256.4% | 35.5% |
| Q1 26 | — | $0.89 | ||
| Q4 25 | $-0.34 | $0.69 | ||
| Q3 25 | $-0.34 | $0.65 | ||
| Q2 25 | $-0.30 | $0.55 | ||
| Q1 25 | $-0.41 | $0.47 | ||
| Q4 24 | $-0.02 | — | ||
| Q3 24 | $-0.43 | $0.40 | ||
| Q2 24 | $-0.40 | $0.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $256.0M | $1.1B |
| Total DebtLower is stronger | $10.0M | — |
| Stockholders' EquityBook value | $30.6M | $2.2B |
| Total Assets | $293.2M | $2.8B |
| Debt / EquityLower = less leverage | 0.33× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.1B | ||
| Q4 25 | $256.0M | $988.5M | ||
| Q3 25 | $291.1M | $791.1M | ||
| Q2 25 | $307.3M | $1.0B | ||
| Q1 25 | $354.6M | $1.1B | ||
| Q4 24 | $413.4M | — | ||
| Q3 24 | $457.2M | $1.2B | ||
| Q2 24 | $503.3M | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | $10.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $10.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $30.6M | $2.2B | ||
| Q3 25 | $57.7M | $2.0B | ||
| Q2 25 | $71.2M | $2.1B | ||
| Q1 25 | $94.6M | $2.2B | ||
| Q4 24 | $126.8M | — | ||
| Q3 24 | $118.9M | $2.3B | ||
| Q2 24 | $150.6M | $2.1B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $293.2M | $2.8B | ||
| Q3 25 | $335.3M | $2.7B | ||
| Q2 25 | $356.4M | $2.8B | ||
| Q1 25 | $408.3M | $2.9B | ||
| Q4 24 | $468.3M | — | ||
| Q3 24 | $516.0M | $3.0B | ||
| Q2 24 | $570.7M | $2.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.33× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-41.7M | $333.5M |
| Free Cash FlowOCF − Capex | — | $332.4M |
| FCF MarginFCF / Revenue | — | 55.5% |
| Capex IntensityCapex / Revenue | 0.0% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 1.36× |
| TTM Free Cash FlowTrailing 4 quarters | — | $875.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $333.5M | ||
| Q4 25 | $-41.7M | $290.3M | ||
| Q3 25 | $-32.5M | $49.0M | ||
| Q2 25 | $-49.0M | $211.4M | ||
| Q1 25 | $-60.8M | $240.3M | ||
| Q4 24 | $-55.0M | — | ||
| Q3 24 | $-50.7M | $271.3M | ||
| Q2 24 | $-62.8M | $119.5M |
| Q1 26 | — | $332.4M | ||
| Q4 25 | — | $288.8M | ||
| Q3 25 | $-32.5M | $46.2M | ||
| Q2 25 | $-49.1M | $208.5M | ||
| Q1 25 | $-60.8M | $236.3M | ||
| Q4 24 | $-55.2M | — | ||
| Q3 24 | $-50.9M | $263.1M | ||
| Q2 24 | $-63.1M | $113.0M |
| Q1 26 | — | 55.5% | ||
| Q4 25 | — | 48.3% | ||
| Q3 25 | -997.6% | 8.1% | ||
| Q2 25 | -623.0% | 37.5% | ||
| Q1 25 | -1655.0% | 41.7% | ||
| Q4 24 | -101.8% | — | ||
| Q3 24 | -332.1% | 48.8% | ||
| Q2 24 | -418.6% | 17.7% |
| Q1 26 | — | 0.2% | ||
| Q4 25 | 0.0% | 0.2% | ||
| Q3 25 | 0.3% | 0.5% | ||
| Q2 25 | 0.1% | 0.5% | ||
| Q1 25 | 0.5% | 0.7% | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 1.4% | 1.5% | ||
| Q2 24 | 2.2% | 1.0% |
| Q1 26 | — | 1.36× | ||
| Q4 25 | — | 1.50× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 1.72× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.30× | ||
| Q2 24 | — | 0.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
