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Nasdaq · Healthcare

Xencor Inc (XNCR)

As-reported financials and SEC filings for Xencor Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Xencor Inc

Xencor Inc is a clinical-stage biopharmaceutical company that develops engineered antibody therapeutics to treat cancer and autoimmune diseases. The company designs XmAb drug candidates using protein engineering technologies, including bispecific and multi-specific antibodies, to improve immune system engagement and therapeutic properties. Xencor serves patients with severe diseases and collaborates with partners to advance its drug candidates through clinical trials.

Snapshot

Revenue
$125.6M
Revenue growth (YoY)
13.7%
Net income
$-91.9M
Diluted EPS
$-1.24
Gross margin
Operating margin
-141.4%
Net margin
-73.2%
FCF margin
-110.1%
ROE
-14.5%
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$1.94B
Long-term debt / equity
0.12×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Xencor

  • Revenue grew 13.7% to $126M in FY2025, after a 36.7% decline the year before.
  • Operating margin is now a 141.4% loss in FY2025, from 15.9% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $51M, up 17.5% from Q2 FY2025.
  • Free cash flow was negative $138M in FY2025.
  • Net loss narrowed to $92M in FY2025, from $233M in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Xencor’s fundamentals sit among the 198 pharmaceutical companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin-141.4%
Lowest of 113
Net margin-73.2%
5th percentile of 122
FCF margin-110.1%
1st percentile of 110
Revenue growth (YoY)+13.7%
55th percentile of 187
ROE-14.5%
57th percentile of 167
Long-term debt / equity0.12×
24th percentile of 64
Short interest14.08d
89th percentile of 197

Xencor’s operating margin of -141.4% is the lowest of the 113 pharmaceutical companies reporting it. Xencor’s FCF margin of -110.1% ranks in the 1st percentile of the 110 pharmaceutical companies reporting it. Xencor’s net margin of -73.2% ranks in the 5th percentile of the 122 pharmaceutical companies reporting it.

No reported insider purchases (code P) in the last 90 days; 5 insider sales totaling $379,135. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 6 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+6 quant / multi-strat
Initiated / added
5
2 new, 3 added
Reduced / exited
2
1 trimmed, 1 exited
Combined position
$39.8M
reported long value
InvestorAs ofPosition valueSharesChange
Millennium ManagementquantQ2 2026$13.7M853.7KAdded
Two Sigma InvestmentsquantQ2 2026$13.2M819.5KAdded
AQR Capital ManagementquantQ2 2026$7.8M483.8KAdded
Citadel AdvisorsquantQ2 2026$3.1M190.8KReduced
Point72 Asset ManagementquantQ2 2026$1.2M71.6KNew
D. E. ShawquantQ2 2026$812,64850.5KNew

No longer held by: Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
5
$379K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-18
filed 2026-06-22
Feigal EllenDirectorSell6.8K$13.06$89K
2026-06-15
filed 2026-06-17
GORMAN KEVIN CHARLESDirectorSell7.5K$12.31$93K
2026-06-15
filed 2026-06-17
RANIERI RICHARD JDirectorSell5.5K$12.31$67K
2026-06-15
filed 2026-06-17
GUSTAFSON KURT ADirectorSell5.5K$12.31$67K
2026-06-15
filed 2026-06-17
Montgomery Alan BruceDirectorSell5.1K$12.31$62K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
14.2M
settled 2026-08-14
Change vs prior
+25.1%
vs previous settlement
Days to cover
14.08
at avg daily volume
Avg daily volume
1.0M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1414.2M+25.1%14.08
2026-07-3111.3M+4.6%8.84
2026-07-1510.8M-5.8%13.63
2026-06-3011.5M+2.2%9.71
2026-06-1511.3M+3.3%16.15
2026-05-2910.9M+1.8%17.22
2026-05-1510.7M+1.7%12.88
2026-04-3010.5M+2.1%15.62

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$125.6M$110.5M$174.6M$164.6M$275.1M
Gross profit
Operating income$-177.5M$-178.4M$-132.4M$-82.5M$43.8M
Net income$-91.9M$-232.6M$-133.1M$-55.2M$82.6M
Diluted EPS$-1.24$-3.58$-2.20$-0.93$1.37

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$-135.1M$-202.2M$-77.9M$24.5M$-16.9M
Capital expenditure$3.1M$6.1M$18.4M$38.5M$13.3M
Free cash flow$-138.3M$-208.3M$-96.4M$-14.0M$-30.2M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$51.2M17.5%$-21.7M$-0.29
Q1 FY2026$4.5M-86.2%$-128.9M$-1.71
Q4 FY2025$28.2M-46.5%$-6.7M$-0.09
Q3 FY2025$21.0M18.0%$-6.0M$-0.08
Q2 FY2025$43.6M82.4%$-30.8M$-0.41
Q1 FY2025$32.7M104.6%$-48.4M$-0.66
Q4 FY2024$52.8M3.6%$-45.6M$-0.62
Q3 FY2024$17.8M-69.9%$-46.3M$-0.72

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorHealthcare
SIC industryPharmaceutical Preparations
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2005
SEC CIK1326732

Selected SEC filings

10-Q2026-08-05
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-07-29
View on EDGAR →
8-K2026-06-18
View on EDGAR →
8-K2026-05-06
View on EDGAR →

Largest pharmaceutical peers

All pharmaceutical stocksAll Healthcare companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.