Exelixis vs Fortrea
Fortrea reported revenue of $2.7 billion in fiscal 2025, 1.2 times Exelixis' $2.3 billion in fiscal 2025. Exelixis' revenue grew 7.0% in its latest year, and Fortrea's grew 1.0%. Exelixis had an operating margin of 37.6%, against -32.0% at Fortrea. Free cash flow was $876 million at Exelixis and $88 million at Fortrea. Their fiscal years end in different months (January 2 and December 31), so the periods don't line up exactly.
Side by side
| Exelixis | Fortrea | |
|---|---|---|
| Latest fiscal year | FY2025, Jan 2, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $2.3B | $2.7B |
| Revenue growth | 7.0% | 1.0% |
| Revenue growth a year, last 5 years | 18.6% | — |
| Gross margin | 96.4% | — |
| Operating margin | 37.6% | −32.0% |
| Net margin | 33.7% | −36.2% |
| Free cash flow | $876M | $88M |
| Free cash flow margin | 37.8% | 3.2% |
| Return on capital | 64.9% | −36.2% |
| Net debt to EBITDA | −1.2x | — |
| Dividends and buybacks | $948M | $0M |
| Change in diluted share count | −4.8% | — |
| Last close | $65.11 | $23.83 |
| P/E at the last close | 20.5× | — |
| Insider trades, last 12 months | bought $1.2 million, sold $42.2 million | sold $4.6 million |
| Piotroski F-score | 6 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
ExelixisFortrea
Operating margin
Percent of revenue
ExelixisFortrea
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
ExelixisFortrea