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Side-by-side financial comparison of ARGENX SE (ARGX) and EXELIXIS, INC. (EXEL). Click either name above to swap in a different company.
ARGENX SE is the larger business by last-quarter revenue ($2.5B vs $598.7M, roughly 4.1× EXELIXIS, INC.). EXELIXIS, INC. runs the higher net margin — 40.8% vs 35.5%, a 5.4% gap on every dollar of revenue. On growth, ARGENX SE posted the faster year-over-year revenue change (83.2% vs 5.6%). EXELIXIS, INC. produced more free cash flow last quarter ($332.4M vs $322.4M).
AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. They have produced drugs to treat a wide range of medical issues.
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.
ARGX vs EXEL — Head-to-Head
Income Statement — Q4 2025 vs Q4 2026
| Metric | | |
|---|---|---|
| Revenue | $2.5B | $598.7M |
| Net Profit | $877.2M | $244.5M |
| Gross Margin | 89.5% | 95.6% |
| Operating Margin | 28.9% | 39.3% |
| Net Margin | 35.5% | 40.8% |
| Revenue YoY | 83.2% | 5.6% |
| Net Profit YoY | 1.3% | 74.8% |
| EPS (diluted) | $13.25 | $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 | $2.5B | $597.8M | ||
| Q3 25 | — | $568.3M | ||
| Q2 25 | $1.8B | $555.4M | ||
| Q1 25 | — | $566.8M | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | — | $539.5M | ||
| Q2 24 | $901.9M | $637.2M |
| Q1 26 | — | $244.5M | ||
| Q4 25 | $877.2M | $193.6M | ||
| Q3 25 | — | $184.8M | ||
| Q2 25 | $414.8M | $159.6M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | $865.6M | — | ||
| Q3 24 | — | $118.0M | ||
| Q2 24 | $-32.5M | $226.1M |
| Q1 26 | — | 95.6% | ||
| Q4 25 | 89.5% | 96.9% | ||
| Q3 25 | — | 96.6% | ||
| Q2 25 | 89.2% | 96.5% | ||
| Q1 25 | — | 96.5% | ||
| Q4 24 | 90.2% | — | ||
| Q3 24 | — | 96.8% | ||
| Q2 24 | 89.4% | 97.2% |
| Q1 26 | — | 39.3% | ||
| Q4 25 | 28.9% | 39.6% | ||
| Q3 25 | — | 37.6% | ||
| Q2 25 | 19.2% | 33.6% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | — | 25.2% | ||
| Q2 24 | -15.4% | 43.3% |
| Q1 26 | — | 40.8% | ||
| Q4 25 | 35.5% | 32.4% | ||
| Q3 25 | — | 32.5% | ||
| Q2 25 | 23.4% | 28.7% | ||
| Q1 25 | — | 24.7% | ||
| Q4 24 | 64.1% | — | ||
| Q3 24 | — | 21.9% | ||
| Q2 24 | -3.6% | 35.5% |
| Q1 26 | — | $0.89 | ||
| Q4 25 | $13.25 | $0.69 | ||
| Q3 25 | — | $0.65 | ||
| Q2 25 | $6.32 | $0.55 | ||
| Q1 25 | — | $0.47 | ||
| Q4 24 | $13.33 | — | ||
| Q3 24 | — | $0.40 | ||
| Q2 24 | $-0.55 | $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 | $3.5B | $1.1B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.3B | $2.2B |
| Total Assets | $8.7B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.1B | ||
| Q4 25 | $3.5B | $988.5M | ||
| Q3 25 | — | $791.1M | ||
| Q2 25 | $2.1B | $1.0B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $1.4B | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $11.0M | — |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $7.3B | $2.2B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | $6.1B | $2.1B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | $5.5B | — | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | $4.3B | $2.1B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $8.7B | $2.8B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | $7.2B | $2.8B | ||
| Q1 25 | — | $2.9B | ||
| Q4 24 | $6.2B | — | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | $4.8B | $2.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.00× | — |
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 | $323.3M | $333.5M |
| Free Cash FlowOCF − Capex | $322.4M | $332.4M |
| FCF MarginFCF / Revenue | 13.0% | 55.5% |
| Capex IntensityCapex / Revenue | 0.0% | 0.2% |
| Cash ConversionOCF / Net Profit | 0.37× | 1.36× |
| TTM Free Cash FlowTrailing 4 quarters | $594.5M | $875.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $333.5M | ||
| Q4 25 | $323.3M | $290.3M | ||
| Q3 25 | — | $49.0M | ||
| Q2 25 | $361.8M | $211.4M | ||
| Q1 25 | — | $240.3M | ||
| Q4 24 | $41.9M | — | ||
| Q3 24 | — | $271.3M | ||
| Q2 24 | $-124.7M | $119.5M |
| Q1 26 | — | $332.4M | ||
| Q4 25 | $322.4M | $288.8M | ||
| Q3 25 | — | $46.2M | ||
| Q2 25 | $356.6M | $208.5M | ||
| Q1 25 | — | $236.3M | ||
| Q4 24 | $40.9M | — | ||
| Q3 24 | — | $263.1M | ||
| Q2 24 | $-125.5M | $113.0M |
| Q1 26 | — | 55.5% | ||
| Q4 25 | 13.0% | 48.3% | ||
| Q3 25 | — | 8.1% | ||
| Q2 25 | 20.1% | 37.5% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | — | 48.8% | ||
| Q2 24 | -13.9% | 17.7% |
| Q1 26 | — | 0.2% | ||
| Q4 25 | 0.0% | 0.2% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | 0.3% | 0.5% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | 0.1% | 1.0% |
| Q1 26 | — | 1.36× | ||
| Q4 25 | 0.37× | 1.50× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | 0.87× | 1.32× | ||
| Q1 25 | — | 1.72× | ||
| Q4 24 | 0.05× | — | ||
| Q3 24 | — | 2.30× | ||
| Q2 24 | — | 0.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
