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Side-by-side financial comparison of EXELIXIS, INC. (EXEL) and Skyward Specialty Insurance Group, Inc. (SKWD). Click either name above to swap in a different company.
EXELIXIS, INC. is the larger business by last-quarter revenue ($598.7M vs $385.6M, roughly 1.6× Skyward Specialty Insurance Group, Inc.). EXELIXIS, INC. runs the higher net margin — 40.8% vs 11.2%, a 29.6% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs 5.6%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $332.4M). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% 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.
Skyward Specialty Insurance Group, Inc. is a specialty property and casualty insurance provider offering tailored coverage solutions including commercial auto, general liability, professional indemnity, and specialty property policies. It primarily serves small-to-medium enterprises and niche industry segments across the United States, focusing on underwriting complex, hard-to-place risks for underserved client groups.
EXEL vs SKWD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $598.7M | $385.6M |
| Net Profit | $244.5M | $43.2M |
| Gross Margin | 95.6% | — |
| Operating Margin | 39.3% | 14.2% |
| Net Margin | 40.8% | 11.2% |
| Revenue YoY | 5.6% | 26.7% |
| Net Profit YoY | 74.8% | 200.1% |
| EPS (diluted) | $0.89 | $1.03 |
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 | $385.6M | ||
| Q3 25 | $568.3M | $382.5M | ||
| Q2 25 | $555.4M | $319.9M | ||
| Q1 25 | $566.8M | $328.5M | ||
| Q4 24 | — | $304.4M | ||
| Q3 24 | $539.5M | $300.9M | ||
| Q2 24 | $637.2M | $279.9M |
| Q1 26 | $244.5M | — | ||
| Q4 25 | $193.6M | $43.2M | ||
| Q3 25 | $184.8M | $45.9M | ||
| Q2 25 | $159.6M | $38.8M | ||
| Q1 25 | $139.9M | $42.1M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | $118.0M | $36.7M | ||
| Q2 24 | $226.1M | $31.0M |
| 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 | 39.6% | 14.2% | ||
| Q3 25 | 37.6% | 15.8% | ||
| Q2 25 | 33.6% | 15.6% | ||
| Q1 25 | 28.8% | 15.7% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | 25.2% | 15.6% | ||
| Q2 24 | 43.3% | 14.4% |
| Q1 26 | 40.8% | — | ||
| Q4 25 | 32.4% | 11.2% | ||
| Q3 25 | 32.5% | 12.0% | ||
| Q2 25 | 28.7% | 12.1% | ||
| Q1 25 | 24.7% | 12.8% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | 21.9% | 12.2% | ||
| Q2 24 | 35.5% | 11.1% |
| Q1 26 | $0.89 | — | ||
| Q4 25 | $0.69 | $1.03 | ||
| Q3 25 | $0.65 | $1.10 | ||
| Q2 25 | $0.55 | $0.93 | ||
| Q1 25 | $0.47 | $1.01 | ||
| Q4 24 | — | $0.33 | ||
| Q3 24 | $0.40 | $0.89 | ||
| Q2 24 | $0.77 | $0.75 |
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 | $168.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.2B | $1.0B |
| Total Assets | $2.8B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.1B | — | ||
| Q4 25 | $988.5M | $168.5M | ||
| Q3 25 | $791.1M | $160.1M | ||
| Q2 25 | $1.0B | $136.6M | ||
| Q1 25 | $1.1B | $112.9M | ||
| Q4 24 | — | $121.6M | ||
| Q3 24 | $1.2B | $105.6M | ||
| Q2 24 | $1.0B | $73.0M |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $1.0B | ||
| Q3 25 | $2.0B | $961.4M | ||
| Q2 25 | $2.1B | $899.9M | ||
| Q1 25 | $2.2B | $850.7M | ||
| Q4 24 | — | $794.0M | ||
| Q3 24 | $2.3B | $797.5M | ||
| Q2 24 | $2.1B | $723.6M |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.8B | $4.8B | ||
| Q3 25 | $2.7B | $4.6B | ||
| Q2 25 | $2.8B | $4.3B | ||
| Q1 25 | $2.9B | $4.0B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | $3.0B | $3.6B | ||
| Q2 24 | $2.8B | $3.4B |
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 | $408.1M |
| Free Cash FlowOCF − Capex | $332.4M | $402.6M |
| FCF MarginFCF / Revenue | 55.5% | 104.4% |
| Capex IntensityCapex / Revenue | 0.2% | 1.4% |
| Cash ConversionOCF / Net Profit | 1.36× | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | $875.8M | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $333.5M | — | ||
| Q4 25 | $290.3M | $408.1M | ||
| Q3 25 | $49.0M | $171.4M | ||
| Q2 25 | $211.4M | $88.2M | ||
| Q1 25 | $240.3M | $96.8M | ||
| Q4 24 | — | $305.1M | ||
| Q3 24 | $271.3M | $168.0M | ||
| Q2 24 | $119.5M | $21.0M |
| Q1 26 | $332.4M | — | ||
| Q4 25 | $288.8M | $402.6M | ||
| Q3 25 | $46.2M | $168.9M | ||
| Q2 25 | $208.5M | $87.1M | ||
| Q1 25 | $236.3M | $96.6M | ||
| Q4 24 | — | $300.9M | ||
| Q3 24 | $263.1M | $167.6M | ||
| Q2 24 | $113.0M | $18.4M |
| Q1 26 | 55.5% | — | ||
| Q4 25 | 48.3% | 104.4% | ||
| Q3 25 | 8.1% | 44.2% | ||
| Q2 25 | 37.5% | 27.2% | ||
| Q1 25 | 41.7% | 29.4% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | 48.8% | 55.7% | ||
| Q2 24 | 17.7% | 6.6% |
| Q1 26 | 0.2% | — | ||
| Q4 25 | 0.2% | 1.4% | ||
| Q3 25 | 0.5% | 0.6% | ||
| Q2 25 | 0.5% | 0.3% | ||
| Q1 25 | 0.7% | 0.1% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 1.5% | 0.1% | ||
| Q2 24 | 1.0% | 0.9% |
| Q1 26 | 1.36× | — | ||
| Q4 25 | 1.50× | 9.44× | ||
| Q3 25 | 0.27× | 3.73× | ||
| Q2 25 | 1.32× | 2.27× | ||
| Q1 25 | 1.72× | 2.30× | ||
| Q4 24 | — | 21.18× | ||
| Q3 24 | 2.30× | 4.58× | ||
| Q2 24 | 0.53× | 0.68× |
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% |
SKWD
Segment breakdown not available.
