Exelixis, Inc.

DB:EX9 Stock Report

Market Cap: €9.3b

Exelixis Valuation

Is EX9 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of EX9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EX9 (€32.86) is trading below our estimate of fair value (€140.49)

Significantly Below Fair Value: EX9 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EX9?

Key metric: As EX9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for EX9. This is calculated by dividing EX9's market cap by their current earnings.
What is EX9's PE Ratio?
PE Ratio20.7x
EarningsUS$466.92m
Market CapUS$9.72b

Price to Earnings Ratio vs Peers

How does EX9's PE Ratio compare to its peers?

The above table shows the PE ratio for EX9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average62.5x
BIO3 Biotest
15.6x29.3%€1.4b
FYB Formycon
14.5x30.6%€928.8m
SRT3 Sartorius
194.8x35.2%€13.7b
1SXP SCHOTT Pharma KGaA
25.1x15.7%€3.8b
EX9 Exelixis
20.7x17.2%€9.7b

Price-To-Earnings vs Peers: EX9 is good value based on its Price-To-Earnings Ratio (20.7x) compared to the peer average (62.5x).

Price to Earnings Ratio vs Industry

How does EX9's PE Ratio compare vs other companies in the European Biotechs Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EX9 20.7xIndustry Avg. 26.8xNo. of Companies5PE020406080100+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EX9 is good value based on its Price-To-Earnings Ratio (20.7x) compared to the European Biotechs industry average (26.9x).

Price to Earnings Ratio vs Fair Ratio

What is EX9's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EX9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.7x
Fair PE Ratio20.2x

Price-To-Earnings vs Fair Ratio: EX9 is expensive based on its Price-To-Earnings Ratio (20.7x) compared to the estimated Fair Price-To-Earnings Ratio (20.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EX9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€32.86
€32.07
-2.4%
13.6%€38.44€22.10n/a22
Dec ’25€33.79
€29.31
-13.3%
15.7%€34.99€17.40n/a22
Nov ’25€29.98
€29.31
-2.2%
15.7%€34.99€17.40n/a22
Oct ’25n/a
€24.73
0%
14.2%€30.78€16.13n/a22
Sep ’25€23.28
€25.05
+7.6%
14.6%€32.09€16.47n/a21
Aug ’25€21.38
€24.45
+14.4%
15.7%€32.25€15.63n/a22
Jul ’25n/a
€24.45
0%
15.7%€32.25€15.63n/a22
Jun ’25€19.51
€24.65
+26.4%
15.7%€32.51€15.76n/a22
May ’25€21.79
€25.03
+14.9%
15.3%€32.80€15.90n/a22
Apr ’25n/a
€24.71
0%
14.6%€30.02€16.70n/a21
Mar ’25€19.90
€24.71
+24.2%
14.6%€30.02€16.70n/a21
Feb ’25€19.97
€24.39
+22.2%
14.2%€29.44€16.56n/a21
Jan ’25n/a
€24.09
0%
15.2%€29.15€16.40n/a21
Dec ’24€20.01
€24.25
+21.2%
16.2%€30.13€16.95€33.7919
Nov ’24€19.06
€24.30
+27.5%
16.3%€30.28€17.03€29.9819
Oct ’24n/a
€24.20
0%
16.3%€30.28€17.03n/a19
Sep ’24€20.42
€23.05
+12.9%
17.2%€29.50€16.60€23.2818
Aug ’24n/a
€22.67
0%
16.9%€29.14€15.48€21.3817
Jul ’24€17.45
€23.63
+35.4%
16.6%€29.87€15.87n/a17
Jun ’24€17.87
€23.62
+32.2%
16.6%€29.86€15.86€19.5117
May ’24n/a
€22.71
0%
16.9%€29.04€15.43€21.7917
Apr ’24€17.47
€23.02
+31.8%
16.8%€29.50€15.67n/a18
Mar ’24n/a
€23.71
0%
17.1%€30.05€15.96€19.9018
Feb ’24n/a
€23.10
0%
16.8%€29.50€15.67€19.9717
Jan ’24€14.58
€24.32
+66.8%
16.4%€30.38€17.09n/a16
Dec ’23€15.75
€25.87
+64.2%
17.6%€34.74€17.87€20.0116

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/27 03:46
End of Day Share Price 2024/12/27 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Exelixis, Inc. is covered by 40 analysts. 21 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ishan MajumdarBaptista Research
Peter LawsonBarclays
Etzer DaroutBMO Capital Markets Equity Research