vs
Side-by-side financial comparison of EXELIXIS, INC. (EXEL) and Liberty Energy Inc. (LBRT). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $598.7M, roughly 1.7× EXELIXIS, INC.). EXELIXIS, INC. runs the higher net margin — 40.8% vs 2.2%, a 38.6% gap on every dollar of revenue. On growth, EXELIXIS, INC. posted the faster year-over-year revenue change (5.6% vs 4.5%). Over the past eight quarters, EXELIXIS, INC.'s revenue compounded faster (18.7% CAGR vs -6.2%).
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.
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
EXEL vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $598.7M | $1.0B |
| Net Profit | $244.5M | $22.6M |
| Gross Margin | 95.6% | — |
| Operating Margin | 39.3% | 2.2% |
| Net Margin | 40.8% | 2.2% |
| Revenue YoY | 5.6% | 4.5% |
| Net Profit YoY | 74.8% | 64.8% |
| EPS (diluted) | $0.89 | $0.14 |
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 | $1.0B | ||
| Q4 25 | $597.8M | $1.0B | ||
| Q3 25 | $568.3M | $947.4M | ||
| Q2 25 | $555.4M | $1.0B | ||
| Q1 25 | $566.8M | $977.5M | ||
| Q4 24 | — | $943.6M | ||
| Q3 24 | $539.5M | $1.1B | ||
| Q2 24 | $637.2M | $1.2B |
| Q1 26 | $244.5M | $22.6M | ||
| Q4 25 | $193.6M | $13.7M | ||
| Q3 25 | $184.8M | $43.1M | ||
| Q2 25 | $159.6M | $71.0M | ||
| Q1 25 | $139.9M | $20.1M | ||
| Q4 24 | — | $51.9M | ||
| Q3 24 | $118.0M | $73.8M | ||
| Q2 24 | $226.1M | $108.4M |
| Q1 26 | 95.6% | — | ||
| Q4 25 | 96.9% | 20.6% | ||
| Q3 25 | 96.6% | 18.7% | ||
| Q2 25 | 96.5% | 22.1% | ||
| Q1 25 | 96.5% | 22.1% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | 96.8% | 26.2% | ||
| Q2 24 | 97.2% | 27.9% |
| Q1 26 | 39.3% | 2.2% | ||
| Q4 25 | 39.6% | 1.9% | ||
| Q3 25 | 37.6% | -0.3% | ||
| Q2 25 | 33.6% | 3.6% | ||
| Q1 25 | 28.8% | 1.9% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | 25.2% | 9.4% | ||
| Q2 24 | 43.3% | 12.2% |
| Q1 26 | 40.8% | 2.2% | ||
| Q4 25 | 32.4% | 1.3% | ||
| Q3 25 | 32.5% | 4.5% | ||
| Q2 25 | 28.7% | 6.8% | ||
| Q1 25 | 24.7% | 2.1% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | 21.9% | 6.5% | ||
| Q2 24 | 35.5% | 9.3% |
| Q1 26 | $0.89 | $0.14 | ||
| Q4 25 | $0.69 | $0.08 | ||
| Q3 25 | $0.65 | $0.26 | ||
| Q2 25 | $0.55 | $0.43 | ||
| Q1 25 | $0.47 | $0.12 | ||
| Q4 24 | — | $0.31 | ||
| Q3 24 | $0.40 | $0.44 | ||
| Q2 24 | $0.77 | $0.64 |
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 | $699.1M |
| Total DebtLower is stronger | — | $7.1M |
| Stockholders' EquityBook value | $2.2B | $1.9B |
| Total Assets | $2.8B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.1B | $699.1M | ||
| Q4 25 | $988.5M | $27.6M | ||
| Q3 25 | $791.1M | $13.5M | ||
| Q2 25 | $1.0B | $19.6M | ||
| Q1 25 | $1.1B | $24.1M | ||
| Q4 24 | — | $20.0M | ||
| Q3 24 | $1.2B | $23.0M | ||
| Q2 24 | $1.0B | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | — | $246.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $190.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $2.2B | $1.9B | ||
| Q4 25 | $2.2B | $2.1B | ||
| Q3 25 | $2.0B | $2.1B | ||
| Q2 25 | $2.1B | $2.0B | ||
| Q1 25 | $2.2B | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | $2.3B | $2.0B | ||
| Q2 24 | $2.1B | $1.9B |
| Q1 26 | $2.8B | $4.4B | ||
| Q4 25 | $2.8B | $3.6B | ||
| Q3 25 | $2.7B | $3.5B | ||
| Q2 25 | $2.8B | $3.4B | ||
| Q1 25 | $2.9B | $3.4B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | $3.0B | $3.3B | ||
| Q2 24 | $2.8B | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.10× | ||
| 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 | $333.5M | — |
| Free Cash FlowOCF − Capex | $332.4M | — |
| FCF MarginFCF / Revenue | 55.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | 13.1% |
| 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 | $290.3M | $195.4M | ||
| Q3 25 | $49.0M | $51.5M | ||
| Q2 25 | $211.4M | $170.6M | ||
| Q1 25 | $240.3M | $192.1M | ||
| Q4 24 | — | $177.3M | ||
| Q3 24 | $271.3M | $244.5M | ||
| Q2 24 | $119.5M | $248.2M |
| Q1 26 | $332.4M | — | ||
| Q4 25 | $288.8M | $-10.0M | ||
| Q3 25 | $46.2M | $-67.2M | ||
| Q2 25 | $208.5M | $33.1M | ||
| Q1 25 | $236.3M | $58.2M | ||
| Q4 24 | — | $-26.2M | ||
| Q3 24 | $263.1M | $77.9M | ||
| Q2 24 | $113.0M | $112.2M |
| Q1 26 | 55.5% | — | ||
| Q4 25 | 48.3% | -1.0% | ||
| Q3 25 | 8.1% | -7.1% | ||
| Q2 25 | 37.5% | 3.2% | ||
| Q1 25 | 41.7% | 6.0% | ||
| Q4 24 | — | -2.8% | ||
| Q3 24 | 48.8% | 6.8% | ||
| Q2 24 | 17.7% | 9.7% |
| Q1 26 | 0.2% | 13.1% | ||
| Q4 25 | 0.2% | 19.8% | ||
| Q3 25 | 0.5% | 12.5% | ||
| Q2 25 | 0.5% | 13.2% | ||
| Q1 25 | 0.7% | 13.7% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | 1.5% | 14.6% | ||
| Q2 24 | 1.0% | 11.7% |
| Q1 26 | 1.36× | — | ||
| Q4 25 | 1.50× | 14.28× | ||
| Q3 25 | 0.27× | 1.20× | ||
| Q2 25 | 1.32× | 2.40× | ||
| Q1 25 | 1.72× | 9.55× | ||
| Q4 24 | — | 3.42× | ||
| Q3 24 | 2.30× | 3.31× | ||
| Q2 24 | 0.53× | 2.29× |
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% |
LBRT
Segment breakdown not available.
