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TheStreet Open House
Exelixis Inc
EXEL : NASDAQ : Health Care
$1.65 -0.05 | -2.94%
Today's Range: 1.65 - 1.75
Avg. Daily Volume: 5,145,400
09/22/14 - 4:00 PM ET

Financial Analysis


EXELIXIS INC's gross profit margin for the second quarter of its fiscal year 2014 has significantly decreased when compared to the same period a year ago. Sales and net income fell significantly, underperforming compared to the average company in its industry. EXELIXIS INC has average liquidity. Currently, the Quick Ratio is 1.46 which shows that technically this company has the ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

At the same time, stockholders' equity ("net worth") has significantly decreased by 98.34% from the same quarter last year. Together, the key liquidity measurements indicate that it is relatively unlikely that the company will face financial difficulties in the near future.

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Income Statement Q2 FY14 Q2 FY13
Net Sales ($mil)6.5611.86
EBITDA ($mil)-60.76-49.9
EBIT ($mil)-61.36-50.69
Net Income ($mil)-73.41-62.16


Balance Sheet Q2 FY14 Q2 FY13
Cash & Equiv. ($mil)245.73364.19
Total Assets ($mil)440.64612.08
Total Debt ($mil)348.97336.14
Equity ($mil)3.24196.33


Profitability Q2 FY14 Q2 FY13
Gross Profit Margin-925.91-420.88
EBITDA Margin-925.9-420.88
Operating Margin-935.04-427.51
Sales Turnover0.050.07
Return on Assets-64.88-31.35
Return on Equity-8815.88-97.74
Debt Q2 FY14 Q2 FY13
Current Ratio1.55.03
Debt/Capital0.990.63
Interest Expense12.0811.24
Interest Coverage-5.08-4.51


Share Data Q2 FY14 Q2 FY13
Shares outstanding (mil)195.09184.1
Div / share0.00.0
EPS-0.38-0.34
Book value / share0.021.07
Institutional Own % n/a n/a
Avg Daily Volume5135277.04842231.0

Valuation


SELL. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. For additional comparison, its price-to-book ratio of 103.61 indicates a significant premium versus the S&P 500 average of 2.76 and a significant premium versus the industry average of 12.28. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. After reviewing these and other key valuation criteria, EXELIXIS INC proves to trade at a premium to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
EXEL NM Peers 82.53   EXEL NM Peers 48.17

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

EXEL's P/E is negative making this valuation measure meaningless.

 

Neutral. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

EXEL's P/CF is negative making the measure meaningless.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
EXEL NM Peers 40.91   EXEL NA Peers 1.23

Neutral. The absence of a valid price-to-projected earnings ratio happens when a stock can not be valued on the basis of a negative expected future earnings.

EXEL's ratio is negative making this valuation measure meaningless.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
EXEL 103.61 Peers 12.28   EXEL -42.45 Peers 18.97

Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

EXEL is trading at a significant premium to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, EXEL is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
EXEL 15.77 Peers 121.03   EXEL -50.11 Peers 382.14

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

EXEL is trading at a significant discount to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

EXEL significantly trails its peers on the basis of sales growth

 

 

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