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Side-by-side financial comparison of EXELIXIS, INC. (EXEL) and Fabrinet (FN). Click either name above to swap in a different company.
Fabrinet is the larger business by last-quarter revenue ($1.1B vs $598.7M, roughly 1.9× EXELIXIS, INC.). EXELIXIS, INC. runs the higher net margin — 40.8% vs 9.9%, a 30.9% gap on every dollar of revenue. On growth, Fabrinet posted the faster year-over-year revenue change (35.9% vs 5.6%). EXELIXIS, INC. produced more free cash flow last quarter ($332.4M vs $-5.3M). Over the past eight quarters, Fabrinet's revenue compounded faster (24.4% CAGR vs 18.7%).
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.
FabrinetFNEarnings & Financial Report
Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.
EXEL vs FN — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $598.7M | $1.1B |
| Net Profit | $244.5M | $112.6M |
| Gross Margin | 95.6% | 12.2% |
| Operating Margin | 39.3% | 10.1% |
| Net Margin | 40.8% | 9.9% |
| Revenue YoY | 5.6% | 35.9% |
| Net Profit YoY | 74.8% | 30.0% |
| EPS (diluted) | $0.89 | $3.11 |
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 | $597.8M | $1.1B | ||
| Q3 25 | $568.3M | $978.1M | ||
| Q2 25 | $555.4M | $909.7M | ||
| Q1 25 | $566.8M | $871.8M | ||
| Q4 24 | — | $833.6M | ||
| Q3 24 | $539.5M | $804.2M | ||
| Q2 24 | $637.2M | $753.3M |
| Q1 26 | $244.5M | — | ||
| Q4 25 | $193.6M | $112.6M | ||
| Q3 25 | $184.8M | $95.9M | ||
| Q2 25 | $159.6M | $87.2M | ||
| Q1 25 | $139.9M | $81.3M | ||
| Q4 24 | — | $86.6M | ||
| Q3 24 | $118.0M | $77.4M | ||
| Q2 24 | $226.1M | $81.1M |
| Q1 26 | 95.6% | — | ||
| Q4 25 | 96.9% | 12.2% | ||
| Q3 25 | 96.6% | 11.9% | ||
| Q2 25 | 96.5% | 12.2% | ||
| Q1 25 | 96.5% | 11.7% | ||
| Q4 24 | — | 12.1% | ||
| Q3 24 | 96.8% | 12.3% | ||
| Q2 24 | 97.2% | 12.3% |
| Q1 26 | 39.3% | — | ||
| Q4 25 | 39.6% | 10.1% | ||
| Q3 25 | 37.6% | 9.6% | ||
| Q2 25 | 33.6% | 9.8% | ||
| Q1 25 | 28.8% | 9.0% | ||
| Q4 24 | — | 9.5% | ||
| Q3 24 | 25.2% | 9.6% | ||
| Q2 24 | 43.3% | 9.7% |
| Q1 26 | 40.8% | — | ||
| Q4 25 | 32.4% | 9.9% | ||
| Q3 25 | 32.5% | 9.8% | ||
| Q2 25 | 28.7% | 9.6% | ||
| Q1 25 | 24.7% | 9.3% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | 21.9% | 9.6% | ||
| Q2 24 | 35.5% | 10.8% |
| Q1 26 | $0.89 | — | ||
| Q4 25 | $0.69 | $3.11 | ||
| Q3 25 | $0.65 | $2.66 | ||
| Q2 25 | $0.55 | $2.41 | ||
| Q1 25 | $0.47 | $2.25 | ||
| Q4 24 | — | $2.38 | ||
| Q3 24 | $0.40 | $2.13 | ||
| Q2 24 | $0.77 | $2.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $960.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.2B | $2.2B |
| Total Assets | $2.8B | $3.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.1B | — | ||
| Q4 25 | $988.5M | $960.8M | ||
| Q3 25 | $791.1M | $968.8M | ||
| Q2 25 | $1.0B | $934.2M | ||
| Q1 25 | $1.1B | $950.7M | ||
| Q4 24 | — | $934.6M | ||
| Q3 24 | $1.2B | $908.9M | ||
| Q2 24 | $1.0B | $858.6M |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $2.2B | ||
| Q3 25 | $2.0B | $2.1B | ||
| Q2 25 | $2.1B | $2.0B | ||
| Q1 25 | $2.2B | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $2.3B | $1.8B | ||
| Q2 24 | $2.1B | $1.7B |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.8B | $3.3B | ||
| Q3 25 | $2.7B | $3.0B | ||
| Q2 25 | $2.8B | $2.8B | ||
| Q1 25 | $2.9B | $2.6B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | $3.0B | $2.4B | ||
| Q2 24 | $2.8B | $2.3B |
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 | $333.5M | $46.3M |
| Free Cash FlowOCF − Capex | $332.4M | $-5.3M |
| FCF MarginFCF / Revenue | 55.5% | -0.5% |
| Capex IntensityCapex / Revenue | 0.2% | 4.6% |
| Cash ConversionOCF / Net Profit | 1.36× | 0.41× |
| TTM Free Cash FlowTrailing 4 quarters | $875.8M | $102.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $333.5M | — | ||
| Q4 25 | $290.3M | $46.3M | ||
| Q3 25 | $49.0M | $102.6M | ||
| Q2 25 | $211.4M | $55.1M | ||
| Q1 25 | $240.3M | $74.2M | ||
| Q4 24 | — | $115.9M | ||
| Q3 24 | $271.3M | $83.2M | ||
| Q2 24 | $119.5M | $83.1M |
| Q1 26 | $332.4M | — | ||
| Q4 25 | $288.8M | $-5.3M | ||
| Q3 25 | $46.2M | $57.3M | ||
| Q2 25 | $208.5M | $4.7M | ||
| Q1 25 | $236.3M | $45.7M | ||
| Q4 24 | — | $94.0M | ||
| Q3 24 | $263.1M | $62.9M | ||
| Q2 24 | $113.0M | $70.4M |
| Q1 26 | 55.5% | — | ||
| Q4 25 | 48.3% | -0.5% | ||
| Q3 25 | 8.1% | 5.9% | ||
| Q2 25 | 37.5% | 0.5% | ||
| Q1 25 | 41.7% | 5.2% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | 48.8% | 7.8% | ||
| Q2 24 | 17.7% | 9.3% |
| Q1 26 | 0.2% | — | ||
| Q4 25 | 0.2% | 4.6% | ||
| Q3 25 | 0.5% | 4.6% | ||
| Q2 25 | 0.5% | 5.5% | ||
| Q1 25 | 0.7% | 3.3% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | 1.5% | 2.5% | ||
| Q2 24 | 1.0% | 1.7% |
| Q1 26 | 1.36× | — | ||
| Q4 25 | 1.50× | 0.41× | ||
| Q3 25 | 0.27× | 1.07× | ||
| Q2 25 | 1.32× | 0.63× | ||
| Q1 25 | 1.72× | 0.91× | ||
| Q4 24 | — | 1.34× | ||
| Q3 24 | 2.30× | 1.07× | ||
| Q2 24 | 0.53× | 1.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXEL
| Cabometyx | $544.7M | 91% |
| Collaboration | $52.1M | 9% |
| Collaborative Arrangementwith Takeda | $5.9M | 1% |
| Cometriq | $1.8M | 0% |
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
