Exelixis vs Gilead Sciences (EXEL vs GILD)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Gilead Sciences is the larger company by revenue ($29.4B vs $2.3B) and market value ($161.2B vs $14.0B). Exelixis has grown revenue faster over the last 4 fiscal years (+61.7% cumulative vs +7.8%). Exelixis runs the higher operating margin (37.6% vs 34.0%). Gilead Sciences trades at the lower trailing P/E (17.7x vs 18.6x).
About Exelixis
Exelixis, Inc. is a biopharmaceutical company focused on developing and commercializing oncology medicines. Its main products include cabozantinib-based therapies marketed as CABOMETYX and COMETRIQ, which are approved to treat various forms of cancer such as renal cell carcinoma, hepatocellular carcinoma, thyroid cancer, and neuroendocrine tumors. The company serves patients and healthcare providers by advancing cancer treatment options through its internal research and strategic collaborations.
About Gilead Sciences
Gilead Sciences, Inc. is a biopharmaceutical company that develops and markets medicines to treat life-threatening diseases such as HIV, viral hepatitis, COVID-19, and cancer. Its product portfolio includes oral antiretroviral therapies for HIV, treatments for liver diseases like hepatitis B and C, oncology therapies including CAR T-cell treatments, and antifungal and antiviral drugs. The company serves healthcare providers and patients worldwide through its commercial operations in over 35 countries.
Head to head (EXEL FY2025 vs GILD FY2025)
| Metric | EXELFY2025 | GILDFY2025 |
|---|---|---|
| Revenue | $2.32B | $29.44B |
| Revenue growth (YoY) | 7.0% | 2.4% |
| Gross margin | — | 78.8% |
| Operating margin | 37.6% | 34.0% |
| Net margin | 33.7% | 28.9% |
| Net income | $782.6M | $8.51B |
| Diluted EPS | $2.78 | $6.78 |
| FCF margin | 37.7% | 32.1% |
| ROE | 36.2% | 37.6% |
| Debt / equity | — | 1.0× |
| Market cap | $14.02B | $161.19B |
| P/E (TTM) | 18.6× | 17.7× |
Fundamentals are from each company’s SEC filings (EXEL FY2025, GILD FY2025). P/E and market cap are derived from recent market prices and update daily.
Five-year trend (as reported)
| EXEL by fiscal year | FY2020 | FY2021 | FY2022 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $1.43B | $1.61B | $1.83B | $2.17B | $2.32B |
| Net income | $231.1M | $182.3M | $207.8M | $521.3M | $782.6M |
| Operating margin | 20.0% | 12.5% | 9.3% | 27.9% | 37.6% |
| GILD by fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $27.30B | $27.28B | $27.12B | $28.75B | $29.44B |
| Net income | $6.22B | $4.59B | $5.67B | $480.0M | $8.51B |
| Operating margin | 36.3% | 26.9% | 28.0% | 5.8% | 34.0% |
Exelixis and Gilead Sciences use different fiscal calendars (EXEL's FY2025 ended 2026-01-02, GILD's FY2025 ended 2025-12-31), so their fiscal years are shown separately rather than forced into one timeline.
Peer standing
Where each company ranks among the 71 biotech companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | EXEL | GILD |
|---|---|---|
| Operating margin | 37.6%87th percentile of 31 | 34.0%80th percentile of 31 |
| Net margin | 33.7%90th percentile of 32 | 28.9%81st percentile of 32 |
| FCF margin | 37.7%85th percentile of 28 | 32.1%81st percentile of 28 |
| Revenue growth (YoY) | +7.0%38th percentile of 64 | +2.4%33rd percentile of 64 |
| ROE | 36.2%90th percentile of 61 | 37.6%92nd percentile of 61 |
| P/E (TTM) | 18.6×55th percentile of 21 | 17.7×50th percentile of 21 |
| Short interest (days to cover) | 8.58d84th percentile of 71 | 2.66d23rd percentile of 71 |
Short interest
| FINRA settlement data | EXEL | GILD |
|---|---|---|
| Shares sold short | 28.5M | 25.5M |
| Change vs prior settlement | -6.8% | +6.8% |
| Days to cover | 8.58 | 2.66 |
| As of settlement | 2026-06-30 | 2026-06-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 open-market activity | EXEL | GILD |
|---|---|---|
| Buys | 0 | 0 |
| Sells | 9 ($10.6M) | 18 ($10.8M) |
Open-market purchases and sales reported on SEC Form 4 (grants, exercises and tax withholding excluded). For context, about 16% of covered companies saw any open-market insider buy in a 90-day window.
Held by the same investors
8 tracked 13F managers hold both Exelixis and Gilead Sciences as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management, Renaissance Technologies, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
Go deeper
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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.