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Side-by-side financial comparison of EXELIXIS, INC. (EXEL) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
EXELIXIS, INC. is the larger business by last-quarter revenue ($598.7M vs $430.0M, roughly 1.4× PEGASYSTEMS INC). EXELIXIS, INC. runs the higher net margin — 40.8% vs 7.6%, a 33.2% gap on every dollar of revenue. On growth, EXELIXIS, INC. posted the faster year-over-year revenue change (5.6% vs -9.6%). EXELIXIS, INC. produced more free cash flow last quarter ($332.4M vs $206.5M). Over the past eight quarters, EXELIXIS, INC.'s revenue compounded faster (18.7% CAGR vs 10.7%).
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.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
EXEL vs PEGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $598.7M | $430.0M |
| Net Profit | $244.5M | $32.8M |
| Gross Margin | 95.6% | 75.2% |
| Operating Margin | 39.3% | 8.6% |
| Net Margin | 40.8% | 7.6% |
| Revenue YoY | 5.6% | -9.6% |
| Net Profit YoY | 74.8% | — |
| EPS (diluted) | $0.89 | $0.18 |
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 | $430.0M | ||
| Q4 25 | $597.8M | $504.3M | ||
| Q3 25 | $568.3M | $381.4M | ||
| Q2 25 | $555.4M | $384.5M | ||
| Q1 25 | $566.8M | $475.6M | ||
| Q4 24 | — | $490.8M | ||
| Q3 24 | $539.5M | $325.1M | ||
| Q2 24 | $637.2M | $351.2M |
| Q1 26 | $244.5M | $32.8M | ||
| Q4 25 | $193.6M | $234.6M | ||
| Q3 25 | $184.8M | $43.4M | ||
| Q2 25 | $159.6M | $30.1M | ||
| Q1 25 | $139.9M | $85.4M | ||
| Q4 24 | — | $119.1M | ||
| Q3 24 | $118.0M | $-14.4M | ||
| Q2 24 | $226.1M | $6.6M |
| Q1 26 | 95.6% | 75.2% | ||
| Q4 25 | 96.9% | 79.5% | ||
| Q3 25 | 96.6% | 72.2% | ||
| Q2 25 | 96.5% | 71.5% | ||
| Q1 25 | 96.5% | 78.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | 96.8% | 70.2% | ||
| Q2 24 | 97.2% | 72.4% |
| Q1 26 | 39.3% | 8.6% | ||
| Q4 25 | 39.6% | 20.7% | ||
| Q3 25 | 37.6% | 3.8% | ||
| Q2 25 | 33.6% | 4.5% | ||
| Q1 25 | 28.8% | 26.7% | ||
| Q4 24 | — | 29.1% | ||
| Q3 24 | 25.2% | -3.6% | ||
| Q2 24 | 43.3% | 3.7% |
| Q1 26 | 40.8% | 7.6% | ||
| Q4 25 | 32.4% | 46.5% | ||
| Q3 25 | 32.5% | 11.4% | ||
| Q2 25 | 28.7% | 7.8% | ||
| Q1 25 | 24.7% | 18.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | 21.9% | -4.4% | ||
| Q2 24 | 35.5% | 1.9% |
| Q1 26 | $0.89 | $0.18 | ||
| Q4 25 | $0.69 | $0.81 | ||
| Q3 25 | $0.65 | $0.24 | ||
| Q2 25 | $0.55 | $0.17 | ||
| Q1 25 | $0.47 | $0.91 | ||
| Q4 24 | — | $1.35 | ||
| Q3 24 | $0.40 | $-0.17 | ||
| Q2 24 | $0.77 | $0.07 |
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 | $270.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.2B | $705.9M |
| Total Assets | $2.8B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.1B | $270.0M | ||
| Q4 25 | $988.5M | $425.8M | ||
| Q3 25 | $791.1M | $351.4M | ||
| Q2 25 | $1.0B | $411.6M | ||
| Q1 25 | $1.1B | $371.7M | ||
| Q4 24 | — | $740.0M | ||
| Q3 24 | $1.2B | $703.0M | ||
| Q2 24 | $1.0B | $665.1M |
| Q1 26 | $2.2B | $705.9M | ||
| Q4 25 | $2.2B | $787.4M | ||
| Q3 25 | $2.0B | $596.8M | ||
| Q2 25 | $2.1B | $624.5M | ||
| Q1 25 | $2.2B | $611.3M | ||
| Q4 24 | — | $585.5M | ||
| Q3 24 | $2.3B | $473.0M | ||
| Q2 24 | $2.1B | $435.4M |
| Q1 26 | $2.8B | $1.6B | ||
| Q4 25 | $2.8B | $1.6B | ||
| Q3 25 | $2.7B | $1.3B | ||
| Q2 25 | $2.8B | $1.3B | ||
| Q1 25 | $2.9B | $1.3B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $3.0B | $1.6B | ||
| Q2 24 | $2.8B | $1.5B |
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 | $206.5M |
| FCF MarginFCF / Revenue | 55.5% | 48.0% |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | 1.36× | — |
| TTM Free Cash FlowTrailing 4 quarters | $875.8M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $333.5M | — | ||
| Q4 25 | $290.3M | $158.4M | ||
| Q3 25 | $49.0M | $56.3M | ||
| Q2 25 | $211.4M | $86.3M | ||
| Q1 25 | $240.3M | $204.2M | ||
| Q4 24 | — | $95.2M | ||
| Q3 24 | $271.3M | $30.5M | ||
| Q2 24 | $119.5M | $40.1M |
| Q1 26 | $332.4M | $206.5M | ||
| Q4 25 | $288.8M | $152.4M | ||
| Q3 25 | $46.2M | $51.8M | ||
| Q2 25 | $208.5M | $84.1M | ||
| Q1 25 | $236.3M | $202.3M | ||
| Q4 24 | — | $92.4M | ||
| Q3 24 | $263.1M | $27.4M | ||
| Q2 24 | $113.0M | $38.8M |
| Q1 26 | 55.5% | 48.0% | ||
| Q4 25 | 48.3% | 30.2% | ||
| Q3 25 | 8.1% | 13.6% | ||
| Q2 25 | 37.5% | 21.9% | ||
| Q1 25 | 41.7% | 42.5% | ||
| Q4 24 | — | 18.8% | ||
| Q3 24 | 48.8% | 8.4% | ||
| Q2 24 | 17.7% | 11.1% |
| Q1 26 | 0.2% | — | ||
| Q4 25 | 0.2% | 1.2% | ||
| Q3 25 | 0.5% | 1.2% | ||
| Q2 25 | 0.5% | 0.6% | ||
| Q1 25 | 0.7% | 0.4% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | 1.5% | 0.9% | ||
| Q2 24 | 1.0% | 0.4% |
| Q1 26 | 1.36× | — | ||
| Q4 25 | 1.50× | 0.68× | ||
| Q3 25 | 0.27× | 1.30× | ||
| Q2 25 | 1.32× | 2.87× | ||
| Q1 25 | 1.72× | 2.39× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | 2.30× | — | ||
| Q2 24 | 0.53× | 6.06× |
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% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
