Arcus Biosciences vs Xencor
Arcus Biosciences reported revenue of $247 million in fiscal 2025, 2.0 times Xencor's $126 million in fiscal 2025. Arcus Biosciences' revenue fell 4.3% in its latest year, and Xencor's grew 13.7%. Arcus Biosciences had an operating margin of -156.3%, against -141.3% at Xencor. Free cash flow was −$484 million at Arcus Biosciences and −$138 million at Xencor.
Side by side
| Arcus Biosciences | Xencor | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $247M | $126M |
| Revenue growth | −4.3% | 13.7% |
| Revenue growth a year, last 5 years | 25.9% | 0.5% |
| Gross margin | — | — |
| Operating margin | −156.3% | −141.3% |
| Net margin | −142.9% | −73.2% |
| Free cash flow | −$484M | −$138M |
| Free cash flow margin | −195.9% | −110.1% |
| Return on capital | — | −19.9% |
| Net debt to EBITDA | — | — |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 19.2% | 14.1% |
| Last close | $18.28 | $35.75 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | sold $11.0 million | sold $3.8 million |
| Piotroski F-score | 0 of 8 | 3 of 8 |
Amounts in each company's own currency, US$ 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
Arcus BiosciencesXencor
Operating margin
Percent of revenue
Arcus BiosciencesXencor
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Arcus BiosciencesXencor
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Arcus Biosciences and Xencor pages.