Xencor (XNCR) Financials

$11.88 -0.50 (-4.04%)

Closing price 04:00 PM Eastern

Extended Trading

$11.88 -0.01 (-0.04%)

As of 04:56 PM Eastern

Annual Income Statements for Xencor

This table shows Xencor's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-18	45	-39	-70	29	-70	83	-55	-133	-233	-92
Consolidated Net Income / (Loss)	-18	45	-38	-70	27	-69	83	-55	-133	-237	-92
Net Income / (Loss) Continuing Operations	-18	45	-38	-70	27	-69	83	-55	-133	-237	-92
Total Pre-Tax Income	-18	46	-39	-70	27	-69	83	-55	-120	-235	-90
Total Operating Income	-18	44	-43	-79	14	-77	44	-82	-132	-178	-178
Total Gross Profit	28	109	46	41	157	123	275	165	175	110	126
Total Revenue	28	109	46	41	157	123	275	165	175	110	126
Operating Revenue	28	109	46	41	157	123	275	165	175	110	126
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	46	65	89	120	143	199	231	247	307	289	303
Selling, General & Admin Expense	12	13	18	22	24	30	39	47	53	61	64
Research & Development Expense	34	52	72	98	119	170	193	200	254	228	239
Total Other Income / (Expense), net	0.75	2.08	4.17	8.96	13	7.46	39	28	13	-57	88
Interest Expense	0.01	0.02	-4.18	-9.09	-14	-7.26	0.01	-4.82	6.18	37	32
Interest & Investment Income	0.74	2.09	-	-	-	-	0.86	-	19	32	28
Other Income / (Expense), net	0.02	0.01	-0.01	-0.13	-0.26	0.20	38	23	-0.43	-52	92
Income Tax Expense	-	0.99	-0.46	0.00	0.31	0.00	0.00	0.67	14	1.62	2.50
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	0.00	0.00	-0.16	-3.92	-0.21
Basic Earnings per Share	($0.45)	$1.09	($0.82)	($1.31)	$0.48	($1.21)	$1.42	($0.93)	($2.20)	($3.58)	($1.24)
Weighted Average Basic Shares Outstanding	39.02M	41.27M	46.82M	53.94M	56.53M	57.21M	58.38M	59.65M	60.50M	65.04M	74.24M
Diluted Earnings per Share	($0.45)	$1.07	($0.82)	($1.31)	$0.46	($1.21)	$1.37	($0.93)	($2.20)	($3.58)	($1.24)
Weighted Average Diluted Shares Outstanding	39.02M	42.39M	46.82M	53.94M	58.47M	57.21M	60.50M	59.65M	60.50M	65.04M	74.24M
Weighted Average Basic & Diluted Shares Outstanding	39.10M	41.40M	-167.30M	53.70M	56.94M	57.95M	59.38M	60.03M	61.12M	70.46M	73.34M

This table shows Xencor's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-24	-26	-73	-67	-46	-46	-48	-31	-6.03	-6.65	-129
Consolidated Net Income / (Loss)	-24	-26	-74	-69	-47	-46	-49	-31	-6.03	-6.65	-129
Net Income / (Loss) Continuing Operations	-24	-26	-74	-69	-47	-46	-49	-31	-6.03	-6.65	-129
Total Pre-Tax Income	-24	-13	-74	-69	-47	-45	-48	-31	-6.03	-4.27	-129
Total Operating Income	-18	-27	-55	-55	-55	-13	-43	-33	-48	-54	-78
Total Gross Profit	59	51	16	24	18	53	33	44	21	28	4.52
Total Revenue	59	51	16	24	18	53	33	44	21	28	4.52
Operating Revenue	59	51	16	24	18	53	33	44	21	28	4.52
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	77	78	71	79	73	66	76	77	69	82	82
Selling, General & Admin Expense	12	15	14	18	15	15	17	15	14	17	18
Research & Development Expense	65	63	57	62	58	51	59	62	54	65	65
Total Other Income / (Expense), net	-6.00	15	-19	-13	7.76	-31	-5.08	2.10	41	49	-51
Interest Expense	0.01	-13	9.68	9.28	9.03	-23	8.67	8.24	7.67	7.35	4.70
Interest & Investment Income	5.02	-	8.55	7.68	7.54	-	7.54	7.25	6.54	6.20	5.46
Other Income / (Expense), net	-11	13	-18	-12	9.24	-31	-3.96	3.09	43	51	-52
Income Tax Expense	-	-	0.00	0.00	0.00	-	0.37	-0.25	0.00	2.39	0.28
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-0.16	-0.68	-1.45	-1.15	-0.65	-0.21	0.00	0.00	-	0.00
Basic Earnings per Share	($0.40)	($0.41)	($1.20)	($1.09)	($0.72)	($0.57)	($0.66)	($0.41)	($0.08)	($0.09)	($1.71)
Weighted Average Basic Shares Outstanding	60.62M	60.50M	61.21M	61.68M	64.02M	65.04M	73.67M	74.28M	74.41M	74.24M	75.25M
Diluted Earnings per Share	($0.40)	($0.41)	($1.20)	($1.09)	($0.72)	($0.57)	($0.66)	($0.41)	($0.08)	($0.09)	($1.71)
Weighted Average Diluted Shares Outstanding	60.62M	60.50M	61.21M	61.68M	64.02M	65.04M	73.67M	74.28M	74.41M	74.24M	75.25M
Weighted Average Basic & Diluted Shares Outstanding	60.88M	61.12M	61.66M	61.83M	69.98M	70.46M	71.17M	71.32M	71.41M	73.34M	74.14M

This table details how cash moves in and out of Xencor's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-42	1.94	2.00	9.72	24	113	-20	-90	0.23	-13	13
Net Cash From Operating Activities	27	95	-34	-80	64	-5.00	-17	24	-78	-202	-135
Net Cash From Continuing Operating Activities	27	95	-34	-80	64	-5.00	-17	24	-78	-202	-135
Net Income / (Loss) Continuing Operations	-18	45	-38	-70	27	-69	83	-55	-133	-237	-92
Consolidated Net Income / (Loss)	-18	45	-38	-70	27	-69	83	-55	-133	-237	-92
Depreciation Expense	1.11	1.47	2.03	3.25	4.30	5.79	7.49	8.80	11	12	11
Amortization Expense	1.10	2.04	2.85	-0.39	-4.32	-0.27	3.16	0.13	-14	-16	-3.48
Non-Cash Adjustments To Reconcile Net Income	4.25	7.59	14	20	33	9.23	-48	82	40	77	-94
Changes in Operating Assets and Liabilities, net	38	39	-14	-33	4.48	50	-62	-11	17	-39	44
Net Cash From Investing Activities	-185	-214	32	-165	-51	100	-46	-120	-111	-7.87	140
Net Cash From Continuing Investing Activities	-185	-214	32	-165	-51	100	-46	-120	-111	-7.87	140
Purchase of Property, Plant & Equipment	-1.93	-1.51	-5.31	-7.21	-7.35	-11	-13	-38	-18	-6.10	-3.15
Acquisitions	-1.75	-1.50	-1.97	-1.94	-3.69	-3.23	-2.68	-4.91	-2.80	-3.42	0.00
Purchase of Investments	-216	-317	-77	-378	-497	-644	-510	-388	-783	-595	-299
Sale of Property, Plant & Equipment	0.01	-	-	0.01	0.00	0.00	0.02	0.00	0.00	0.00	0.00
Sale and/or Maturity of Investments	34	106	116	222	457	758	485	307	693	597	442
Net Cash From Financing Activities	116	121	3.73	254	11	18	43	5.70	189	197	8.23
Net Cash From Continuing Financing Activities	116	121	3.73	254	11	18	43	5.70	189	197	8.23
Repurchase of Common Equity	-7.70	-7.28	-	-15	-	-	-	0.00	0.00	-12	0.00
Issuance of Common Equity	124	128	3.73	269	11	18	43	5.70	5.89	209	9.96
Other Financing Activities, net	-	-	-	-	-	-	0.00	0.00	183	0.00	-1.73
Cash Interest Paid	0.01	0.02	0.01	0.02	0.01	0.02	0.01	0.01	0.02	0.03	0.01
Cash Income Taxes Paid	0.00	0.94	0.97	0.23	0.40	0.00	0.00	0.70	0.00	6.10	7.31

This table details how cash moves in and out of Xencor's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	18	1.06	-23	-0.26	-1.74	12	-1.30	4.77	-16	26	-40
Net Cash From Operating Activities	-27	18	-57	-69	-32	-50	-16	-36	-31	-52	-68
Net Cash From Continuing Operating Activities	-27	18	-57	-69	-32	-50	-16	-36	-31	-52	-68
Net Income / (Loss) Continuing Operations	-24	-26	-74	-74	-54	-46	-49	-31	-6.03	-6.65	-129
Consolidated Net Income / (Loss)	-24	-26	-74	-74	-54	-46	-49	-31	-6.03	-6.65	-129
Depreciation Expense	3.14	3.23	3.04	3.02	3.05	2.99	2.69	2.65	2.59	2.58	2.57
Amortization Expense	-3.87	-5.42	-6.91	-4.44	-3.47	-2.54	-2.13	0.64	-1.65	-0.34	-0.13
Non-Cash Adjustments To Reconcile Net Income	-11	41	27	4.50	-9.19	3.93	6.74	-25	-11	-88	61
Changes in Operating Assets and Liabilities, net	8.72	5.96	-6.00	2.15	32	-8.03	25	17	-14	41	-2.34
Net Cash From Investing Activities	45	-203	32	66	-163	57	14	40	15	71	27
Net Cash From Continuing Investing Activities	45	-203	32	66	-163	57	14	40	15	71	27
Purchase of Property, Plant & Equipment	-2.83	-0.98	-0.13	-3.03	-1.28	-1.66	-1.44	-0.38	-0.18	-1.14	-0.61
Purchase of Investments	-168	-338	-137	-123	-282	-54	-104	-73	-84	-38	-73
Sale and/or Maturity of Investments	217	137	170	192	120	114	119	114	99	110	100
Net Cash From Financing Activities	0.36	186	1.79	2.67	193	4.43	1.25	0.66	-	6.32	0.95
Net Cash From Continuing Financing Activities	0.36	186	1.79	2.67	193	4.43	1.25	0.66	-	6.32	0.95
Issuance of Common Equity	0.36	2.69	1.79	1.07	202	4.43	2.97	0.66	-	6.32	0.95
Other Financing Activities, net	-	-	0.00	1.60	-	-	-1.73	-	-	-	0.00
Cash Interest Paid	0.01	0.00	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Cash Income Taxes Paid	-	-	-	6.10	-	-	0.00	-	0.36	-0.05	3.01

This table presents Xencor's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	207	429	390	577	670	703	538	846	965	952	875
Total Current Assets	98	142	231	316	558	638	424	675	636	578	600
Cash & Equivalents	13	15	17	26	50	164	143	54	54	41	54
Short-Term Investments	84	116	208	268	479	439	191	569	540	457	494
Accounts Receivable	0.04	8.62	1.14	10	22	11	66	29	24	61	29
Prepaid Expenses	1.20	2.90	5.61	10	6.55	11	24	23	18	19	23
Plant, Property, & Equipment, net	2.31	3.11	7.09	12	16	22	28	59	66	60	53
Total Noncurrent Assets	107	284	152	249	96	44	85	112	263	315	222
Long-Term Investments	97	273	139	236	72	1.03	-	3.83	210	257	176
Intangible Assets	9.97	10	11	12	14	16	16	19	19	18	8.39
Other Noncurrent Operating Assets	0.06	0.10	0.28	0.31	9.69	27	64	89	35	39	38
Total Liabilities & Shareholders' Equity	207	429	390	577	670	703	838	846	965	952	875
Total Liabilities	44	115	74	55	77	131	105	119	303	278	240
Total Current Liabilities	43	106	73	54	67	121	71	64	74	87	96
Short-Term Debt	-	-	-	-	-	-	-	0.00	28	48	43
Accounts Payable	6.40	3.88	6.87	3.80	10	8.95	14	10	14	17	11
Accrued Expenses	3.63	6.69	5.48	9.66	9.00	18	19	19	24	19	35
Current Deferred & Payable Income Tax Liabilities	-	0.07	0.16	-	-	-	-	0.00	5.29	0.00	3.59
Other Current Liabilities	-	-	-	0.00	2.17	1.89	0.00	4.71	3.44	3.01	3.26
Total Noncurrent Liabilities	1.05	8.32	1.09	1.20	10	9.74	34	55	229	190	144
Long-Term Debt	-	-	-	-	-	-	-	0.00	162	115	76
Noncurrent Deferred Revenue	1.05	8.32	1.09	1.20	1.93	-	-	-	-	9.99	2.78
Other Noncurrent Operating Liabilities	-	-	-	0.00	8.57	9.74	34	55	67	65	65
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	162	314	316	522	593	572	734	727	662	674	636
Total Preferred & Common Equity	162	314	316	522	593	572	734	727	662	678	636
Total Common Equity	162	314	316	522	593	572	734	727	662	678	636
Common Stock	425	553	571	846	888	938	1,018	1,073	1,132	1,382	1,430
Retained Earnings	-262	-238	-253	-323	-296	-366	-283	-338	-471	-704	-796
Accumulated Other Comprehensive Income / (Loss)	-0.52	-1.44	-1.81	-0.97	1.16	0.07	-1.51	-6.95	1.29	-0.66	1.58
Noncontrolling Interest	-	-	-	-	-	-	-	0.00	0.34	-3.59	0.00

This table presents Xencor's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	835	803	778	778	897	841	1,000	905	879	869	737
Total Current Assets	668	630	594	571	575	569	590	521	513	518	483
Cash & Equivalents	53	72	35	53	31	31	29	40	44	28	14
Short-Term Investments	548	516	517	442	505	478	514	430	399	443	431
Accounts Receivable	45	20	20	55	22	36	26	38	48	22	12
Prepaid Expenses	23	22	22	22	17	25	21	14	22	26	26
Plant, Property, & Equipment, net	51	67	68	68	64	64	62	59	57	55	51
Total Noncurrent Assets	116	107	117	139	258	208	348	325	309	296	202
Long-Term Investments	42	54	64	85	199	149	290	273	260	247	157
Intangible Assets	18	18	19	19	19	19	18	13	11	9.47	7.60
Other Noncurrent Operating Assets	51	34	34	36	41	40	40	38	38	39	38
Total Liabilities & Shareholders' Equity	835	803	778	778	897	841	1,000	905	879	869	737
Total Liabilities	113	120	99	109	297	292	294	265	259	243	221
Total Current Liabilities	90	65	45	53	71	76	91	88	96	86	73
Short-Term Debt	-	-	-	-	34	39	44	53	50	45	26
Accounts Payable	15	15	14	15	16	16	19	16	19	9.08	7.92
Accrued Expenses	19	15	18	24	13	20	25	16	24	28	34
Current Deferred & Payable Income Tax Liabilities	0.39	-	-	-	5.29	0.00	0.00	-	-	-	0.84
Other Current Liabilities	21	4.47	4.23	4.38	2.08	1.26	2.18	3.64	3.38	3.94	4.03
Total Noncurrent Liabilities	23	55	55	56	226	216	203	176	163	157	148
Long-Term Debt	-	-	-	-	151	141	128	102	95	88	82
Noncurrent Deferred Revenue	-	-	-	-	0.00	-	-	-	-	-	2.88
Other Noncurrent Operating Liabilities	23	-	55	56	75	75	75	75	68	69	63
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	723	684	679	669	600	549	706	640	620	625	516
Total Preferred & Common Equity	723	684	679	669	600	550	709	640	620	625	516
Total Common Equity	723	684	679	669	600	550	709	640	620	625	516
Common Stock	1,059	1,086	1,102	1,115	1,145	1,163	1,366	1,392	1,403	1,413	1,440
Retained Earnings	-326	-399	-421	-445	-545	-612	-658	-752	-783	-789	-925
Accumulated Other Comprehensive Income / (Loss)	-9.88	-3.63	-1.86	-0.71	-0.15	-0.65	1.80	0.36	0.26	1.16	0.03
Noncontrolling Interest	-	-	-	-	-0.34	-1.78	-2.94	0.00	0.00	0.00	0.00

This table displays calculated financial ratios and metrics derived from Xencor's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	40,477,003.00	41,138,851.00	46,960,847.00	56,234,332.00	56,721,172.00	57,455,204.00	58,481,559.00	-	-	-	71,410,469.00
DEI Adjusted Shares Outstanding	40,477,003.00	41,138,851.00	46,960,847.00	56,234,332.00	56,721,172.00	57,455,204.00	58,481,559.00	-	-	-	71,410,469.00
DEI Earnings Per Adjusted Shares Outstanding	-0.43	1.10	-0.83	-1.24	0.51	-1.23	1.41	-	-	-	-1.29
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	191.62%	292.70%	-57.62%	-12.11%	285.93%	-21.70%	124.23%	-40.18%	6.10%	-36.72%	13.65%
EBITDA Growth	-3.53%	395.08%	-180.45%	-100.33%	117.67%	-624.73%	230.05%	-154.52%	-167.71%	-73.54%	66.60%
EBIT Growth	-11.41%	340.39%	-197.92%	-84.31%	117.07%	-664.54%	206.77%	-172.54%	-123.83%	-73.37%	62.98%
NOPAT Growth	-11.43%	435.71%	-170.05%	-84.05%	124.60%	-493.39%	181.42%	-231.91%	-60.49%	-34.79%	0.51%
Net Income Growth	-7.12%	356.51%	-185.29%	-82.95%	138.17%	-357.98%	219.18%	-166.78%	-141.56%	-77.45%	61.05%
EPS Growth	13.46%	337.78%	-176.64%	-59.76%	135.11%	-363.04%	213.22%	-167.88%	-136.56%	-62.73%	65.36%
Operating Cash Flow Growth	224.89%	257.15%	-135.28%	-137.39%	180.71%	-107.77%	-236.79%	245.29%	-418.26%	-159.46%	33.17%
Free Cash Flow Firm Growth	210.20%	348.27%	-171.61%	-28.54%	113.87%	-333.17%	-186.54%	31.52%	32.38%	-297.79%	54.17%
Invested Capital Growth	-765.57%	-189.82%	47.65%	81.25%	7.75%	-289.65%	413.19%	1.69%	-52.17%	72.52%	-61.46%
Revenue Q/Q Growth	137.85%	6.02%	5.14%	-31.41%	-4.91%	45.45%	68.83%	-44.58%	20.21%	19.78%	-16.36%
EBITDA Q/Q Growth	38.25%	10.06%	-18.43%	-55.71%	-41.98%	20.40%	1,799.57%	-232.10%	-2.41%	-4.88%	33.63%
EBIT Q/Q Growth	32.45%	10.10%	-16.64%	-50.10%	-41.47%	17.47%	1,617.01%	-312.11%	0.30%	-6.25%	32.47%
NOPAT Q/Q Growth	32.40%	7.72%	-16.62%	-49.86%	-41.39%	18.01%	201.53%	-211.51%	10.33%	14.64%	-29.51%
Net Income Q/Q Growth	34.11%	11.57%	-15.17%	-57.00%	-24.49%	16.02%	2,105.12%	-284.42%	-11.99%	-16.62%	30.03%
EPS Q/Q Growth	35.71%	9.18%	-20.59%	-50.57%	-28.13%	15.38%	1,470.00%	-286.00%	-10.55%	-12.23%	27.91%
Operating Cash Flow Q/Q Growth	8.19%	-10.63%	20.19%	-14.52%	-4.16%	87.99%	72.62%	-77.88%	35.35%	-800.70%	-1.41%
Free Cash Flow Firm Q/Q Growth	-5.68%	6.86%	-69.90%	9.95%	-27.88%	50.66%	22.17%	-338.16%	64.27%	-56.78%	19.28%
Invested Capital Q/Q Growth	30.21%	9.99%	43.17%	43.51%	20.88%	-118.62%	83.49%	24.60%	-46.44%	82.59%	-20.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-58.04%	43.61%	-82.80%	-188.75%	8.64%	-57.93%	33.60%	-30.62%	-77.27%	-211.91%	-62.27%
Operating Margin	-66.05%	40.40%	-93.34%	-195.48%	8.82%	-62.59%	15.91%	-50.11%	-75.80%	-161.47%	-141.35%
EBIT Margin	-66.00%	40.40%	-93.36%	-195.79%	8.66%	-62.43%	29.73%	-36.05%	-76.05%	-208.35%	-67.87%
Profit (Net Income) Margin	-63.37%	41.39%	-83.30%	-173.41%	17.15%	-56.51%	30.04%	-33.53%	-76.34%	-214.08%	-73.37%
Tax Burden Percent	100.00%	97.85%	98.81%	100.00%	98.85%	100.00%	100.00%	101.23%	111.42%	100.69%	102.79%
Interest Burden Percent	96.01%	104.70%	90.31%	88.57%	200.38%	90.52%	101.04%	91.88%	90.09%	102.05%	105.17%
Effective Tax Rate	0.00%	2.15%	0.00%	0.00%	1.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	129.98%	-57.86%	-124.59%	-190.45%	-216.04%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	123.71%	-58.27%	-118.04%	-171.92%	-221.42%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-117.33%	50.31%	105.41%	155.04%	201.97%
Return on Equity (ROE)	-15.87%	18.94%	-12.21%	-16.80%	4.82%	-11.90%	12.65%	-7.55%	-19.19%	-35.41%	-14.07%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-87.69%	-59.54%	-54.01%	-243.68%	-127.33%
Operating Return on Assets (OROA)	-13.34%	13.86%	-10.54%	-16.44%	2.18%	-11.15%	13.18%	-8.57%	-14.66%	-24.02%	-9.33%
Return on Assets (ROA)	-12.81%	14.20%	-9.40%	-14.56%	4.31%	-10.10%	13.32%	-7.97%	-14.72%	-24.68%	-10.08%
Return on Common Equity (ROCE)	-15.87%	18.94%	-12.21%	-16.80%	4.82%	-11.90%	12.65%	-7.55%	-19.18%	-35.49%	-14.11%
Return on Equity Simple (ROE_SIMPLE)	-10.83%	14.37%	-12.16%	-13.50%	4.53%	-12.11%	11.27%	-7.59%	-20.14%	-34.91%	0.00%
Net Operating Profit after Tax (NOPAT)	-13	43	-30	-56	14	-54	44	-58	-93	-125	-124
NOPAT Margin	-46.24%	39.53%	-65.34%	-136.83%	8.72%	-43.81%	15.91%	-35.08%	-53.06%	-113.03%	-98.95%
Net Nonoperating Expense Percent (NNEP)	-3.84%	0.68%	-2.16%	-3.32%	2.33%	-2.58%	6.28%	0.40%	-6.55%	-18.53%	5.38%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	5.97%	-7.94%	-10.88%	-14.91%	-16.45%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	43.08%	12.02%	37.88%	55.35%	15.50%	24.20%	14.12%	28.85%	30.57%	55.40%	50.68%
R&D to Revenue	122.97%	47.58%	155.35%	240.13%	75.68%	138.39%	69.97%	121.26%	145.23%	206.06%	190.67%
Operating Expenses to Revenue	166.05%	59.60%	193.23%	295.48%	91.18%	162.59%	84.09%	150.11%	175.80%	261.47%	241.35%
Earnings before Interest and Taxes (EBIT)	-18	44	-43	-79	14	-77	82	-59	-133	-230	-85
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-16	48	-38	-77	14	-71	92	-50	-135	-234	-78
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.64	3.45	3.25	3.90	3.29	4.38	3.20	2.14	1.95	2.37	1.72
Price to Tangible Book Value (P/TBV)	3.88	3.57	3.37	3.99	3.37	4.50	3.27	2.20	2.01	2.44	1.74
Price to Revenue (P/Rev)	21.32	9.93	22.28	50.08	12.45	20.43	8.53	9.48	7.40	14.55	8.71
Price to Earnings (P/E)	0.00	24.00	0.00	0.00	67.25	0.00	28.39	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	4.17%	0.00%	0.00%	1.49%	0.00%	3.52%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	20.34	9.28	14.10	12.21	15.30
Enterprise Value to Revenue (EV/Rev)	14.35	6.23	14.42	37.02	8.61	15.51	7.31	5.67	3.89	9.17	3.90
Enterprise Value to EBITDA (EV/EBITDA)	0.00	14.29	0.00	0.00	99.62	0.00	21.77	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	15.42	0.00	0.00	99.45	0.00	24.60	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	15.76	0.00	0.00	98.74	0.00	45.97	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	14.94	7.13	0.00	0.00	20.96	0.00	0.00	38.13	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	17.56	6.68	0.00	0.00	103.92	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.29	0.24	0.19
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.24	0.17	0.12
Financial Leverage	-1.12	-1.25	-1.22	-1.07	-1.02	-1.03	-0.95	-0.86	-0.89	-0.90	-0.91
Leverage Ratio	1.24	1.33	1.30	1.15	1.12	1.18	0.95	0.95	1.30	1.43	1.40
Compound Leverage Factor	1.19	1.40	1.17	1.02	2.24	1.07	0.96	0.87	1.17	1.46	1.47
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	22.25%	19.53%	15.85%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.25%	5.78%	5.73%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.00%	13.75%	10.13%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	-0.43%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	77.71%	80.90%	84.15%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.40	-0.70	-1.53
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.55	2.52	7.72
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.20	-0.49	-0.98
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-2.05	-1.31	-0.96
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.63	4.73	4.86
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.75	-0.92	-0.62
Altman Z-Score	6.37	5.58	7.71	21.54	15.75	11.47	14.51	8.15	2.30	2.37	1.97
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	-0.24%	-0.27%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.25	1.33	3.18	5.86	8.39	5.27	6.00	10.58	8.60	6.61	6.25
Quick Ratio	2.22	1.31	3.10	5.66	8.28	5.08	5.66	10.21	8.35	6.39	6.02
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	23	102	-73	-94	13	-30	-87	-59	-40	-160	-73
Operating Cash Flow to CapEx	1,388.13%	6,319.71%	-632.59%	-1,107.26%	875.48%	-47.49%	-126.91%	63.61%	-422.43%	-3,316.19%	-4,289.43%
Free Cash Flow to Firm to Interest Expense	1,745.65	4,844.12	0.00	0.00	0.00	0.00	-6,673.38	0.00	0.00	-33.90	-2.29
Operating Cash Flow to Interest Expense	2,051.23	4,535.14	0.00	0.00	0.00	0.00	-1,296.38	0.00	0.00	-42.90	-4.23
Operating Cash Flow Less CapEx to Interest Expense	1,903.46	4,463.38	0.00	0.00	0.00	0.00	-2,317.92	0.00	0.00	-44.19	-4.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.20	0.34	0.11	0.08	0.25	0.18	0.44	0.24	0.19	0.12	0.14
Accounts Receivable Turnover	18.45	25.18	9.47	7.17	9.87	7.43	7.07	3.45	6.62	2.61	2.79
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	17.30	40.27	9.07	4.30	11.35	6.55	11.02	3.77	2.79	1.75	2.22
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	19.79	14.50	38.55	50.92	36.99	49.11	51.63	105.77	55.12	139.71	131.01
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	19.79	14.50	38.55	50.92	36.99	49.11	51.63	105.77	55.12	139.71	131.01
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-31	-90	-47	-8.79	-8.11	-32	99	101	48	83	32
Invested Capital Turnover	-2.12	-1.81	-0.68	-1.46	-18.55	-6.18	8.17	1.65	2.35	1.69	2.18
Increase / (Decrease) in Invested Capital	-36	-59	43	38	0.68	-23	131	1.68	-52	35	-51
Enterprise Value (EV)	398	679	666	1,503	1,349	1,903	2,012	934	679	1,014	490
Market Capitalization	592	1,083	1,029	2,033	1,951	2,507	2,346	1,560	1,292	1,608	1,093
Book Value per Share	$4.01	$7.63	$6.74	$9.28	$10.46	$9.96	$12.54	$12.14	$10.87	$9.68	$8.90
Tangible Book Value per Share	$3.77	$7.38	$6.50	$9.06	$10.20	$9.69	$12.26	$11.83	$10.56	$9.42	$8.78
Total Capital	162	314	316	522	593	572	734	727	852	838	755
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	189	164	120
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	162	115	76
Net Debt	-193	-403	-363	-530	-601	-604	-334	-627	-614	-591	-604
Capital Expenditures (CapEx)	1.92	1.51	5.31	7.20	7.35	11	13	38	18	6.10	3.15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-42	-95	-66	-32	-38	-86	20	-12	-4.33	41	-0.55
Debt-free Net Working Capital (DFNWC)	54	35	158	262	492	517	354	611	589	539	547
Net Working Capital (NWC)	54	35	158	262	492	517	354	611	562	490	504
Net Nonoperating Expense (NNE)	4.76	-2.03	8.30	15	-13	16	-39	-2.55	41	112	-32
Net Nonoperating Obligations (NNO)	-193	-403	-363	-530	-601	-604	-635	-627	-614	-591	-604
Total Depreciation and Amortization (D&A)	2.21	3.50	4.88	2.86	-0.02	5.52	11	8.93	-2.14	-3.94	7.03
Debt-free, Cash-free Net Working Capital to Revenue	-151.95%	-86.93%	-142.65%	-80.01%	-24.21%	-70.41%	7.10%	-7.03%	-2.48%	36.96%	-0.44%
Debt-free Net Working Capital to Revenue	195.40%	32.44%	342.49%	644.96%	313.88%	421.06%	128.54%	371.55%	337.54%	487.47%	435.74%
Net Working Capital to Revenue	195.40%	32.44%	342.49%	644.96%	313.88%	421.06%	128.54%	371.55%	321.67%	443.62%	401.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.45)	$0.57	($1.05)	($1.31)	$0.48	($1.21)	$1.42	($0.93)	$0.00	($3.58)	($1.24)
Adjusted Weighted Average Basic Shares Outstanding	39.02M	41.27M	46.82M	53.94M	56.53M	57.21M	58.38M	59.65M	0.00	65.04M	74.24M
Adjusted Diluted Earnings per Share	($0.45)	$0.56	($1.05)	($1.31)	$0.46	($1.21)	$1.37	($0.93)	$0.00	($3.58)	($1.24)
Adjusted Weighted Average Diluted Shares Outstanding	39.02M	42.39M	46.82M	53.94M	58.47M	57.21M	60.50M	59.65M	0.00	65.04M	74.24M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	40.58M	46.57M	47.01M	56.29M	56.94M	57.95M	59.38M	60.03M	0.00	70.46M	73.34M
Normalized Net Operating Profit after Tax (NOPAT)	-13	43	-30	-56	14	-54	31	-58	-93	-125	-124
Normalized NOPAT Margin	-46.24%	39.53%	-65.34%	-136.83%	8.72%	-43.81%	11.14%	-35.08%	-53.06%	-113.03%	-98.95%
Pre Tax Income Margin	-63.37%	42.30%	-84.31%	-173.41%	17.35%	-56.51%	30.04%	-33.12%	-68.51%	-212.61%	-71.38%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1,409.46	2,097.43	0.00	0.00	0.00	0.00	6,290.92	0.00	0.00	-48.85	-2.67
NOPAT to Interest Expense	-987.43	2,052.08	0.00	0.00	0.00	0.00	3,366.69	0.00	0.00	-26.50	-3.89
EBIT Less CapEx to Interest Expense	-1,557.23	2,025.67	0.00	0.00	0.00	0.00	5,269.38	0.00	0.00	-50.14	-2.77
NOPAT Less CapEx to Interest Expense	-1,135.20	1,980.31	0.00	0.00	0.00	0.00	2,345.15	0.00	0.00	-27.79	-3.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-43.78%	16.13%	0.00%	-20.94%	0.00%	0.00%	0.00%	0.00%	0.00%	-5.11%	0.00%

This table displays calculated financial ratios and metrics derived from Xencor's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	70,461,934.00	71,170,754.00	71,323,046.00	71,410,469.00	73,338,642.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	70,461,934.00	71,170,754.00	71,323,046.00	71,410,469.00	73,338,642.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-0.69	-0.43	-0.08	-0.09	-1.76
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	116.73%	135.84%	-15.64%	-47.48%	-69.92%	3.58%	104.61%	82.41%	18.00%	-46.51%	-86.20%
EBITDA Growth	2.79%	-24.18%	-19.79%	-168.81%	-54.50%	-167.27%	39.41%	61.17%	91.71%	97.84%	-172.61%
EBIT Growth	11.39%	2.71%	-14.66%	-161.22%	-56.92%	-212.02%	35.42%	55.23%	89.34%	92.94%	-174.50%
NOPAT Growth	52.36%	35.78%	10.01%	-112.99%	-202.12%	51.82%	21.00%	40.09%	13.91%	-306.95%	-80.31%
Net Income Growth	25.92%	-118.50%	-21.98%	-213.30%	-95.48%	-75.60%	34.38%	55.18%	87.30%	85.60%	-165.08%
EPS Growth	27.27%	-105.00%	-17.65%	-194.59%	-80.00%	-39.02%	45.00%	62.39%	88.89%	84.21%	-159.09%
Operating Cash Flow Growth	-2,235.70%	174.37%	-85.73%	-80.50%	-16.40%	-374.30%	71.47%	46.00%	-9.51%	-3.76%	-316.94%
Free Cash Flow Firm Growth	59.20%	205.87%	269.65%	-650.38%	126.22%	-232.35%	-523.95%	72.46%	-588.59%	130.56%	22.91%
Invested Capital Growth	11.28%	-52.17%	-47.59%	12.83%	-49.39%	72.52%	2.97%	-14.43%	-11.48%	-61.46%	-57.93%
Revenue Q/Q Growth	29.97%	-13.86%	-64.20%	86.70%	4.93%	196.66%	-38.00%	33.23%	-51.85%	34.47%	-84.01%
EBITDA Q/Q Growth	-17.61%	45.60%	-234.27%	12.89%	38.62%	5.89%	-6.73%	42.47%	85.21%	77.92%	-14,409.26%
EBIT Q/Q Growth	-13.87%	51.75%	-257.66%	11.81%	38.01%	4.06%	-6.92%	36.19%	83.71%	36.49%	-4,057.94%
NOPAT Q/Q Growth	29.72%	-49.70%	-62.54%	4.30%	11.43%	76.13%	-227.69%	23.18%	-43.25%	-12.86%	-45.19%
Net Income Q/Q Growth	-10.54%	-8.41%	-284.74%	-0.11%	29.62%	2.62%	-5.26%	36.62%	80.45%	-10.39%	-1,837.71%
EPS Q/Q Growth	-8.11%	-2.50%	-313.79%	1.80%	32.71%	20.83%	-15.79%	37.88%	80.49%	-12.50%	-1,800.00%
Operating Cash Flow Q/Q Growth	28.58%	166.60%	-131.38%	-24.78%	51.40%	-56.94%	67.45%	-124.22%	15.27%	-67.80%	-30.78%
Free Cash Flow Firm Q/Q Growth	-357.04%	252.27%	-96.07%	-129.78%	-93.95%	-868.73%	28.11%	59.29%	-117.18%	148.08%	-281.37%
Invested Capital Q/Q Growth	41.95%	-46.44%	144.45%	170.13%	160.42%	82.59%	-37.52%	17.81%	-34.13%	-20.50%	-31.80%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-50.73%	-32.03%	-472.30%	-286.92%	-260.54%	-82.65%	-142.28%	-61.43%	-18.87%	-3.10%	-2,811.25%
Operating Margin	-30.88%	-53.67%	-341.71%	-231.61%	-310.17%	-24.96%	-131.93%	-76.07%	-226.29%	-189.92%	-1,724.14%
EBIT Margin	-49.50%	-27.72%	-456.26%	-281.01%	-258.22%	-83.51%	-144.01%	-68.98%	-23.33%	-11.02%	-2,865.26%
Profit (Net Income) Margin	-41.02%	-51.62%	-463.31%	-287.71%	-266.59%	-87.51%	-148.58%	-70.69%	-28.70%	-23.56%	-2,854.65%
Tax Burden Percent	100.00%	208.02%	100.00%	100.00%	100.00%	103.63%	100.76%	99.20%	100.00%	155.95%	100.22%
Interest Burden Percent	82.87%	89.51%	101.55%	102.38%	103.24%	101.12%	102.39%	103.31%	123.00%	137.08%	99.41%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-36.81%	-88.21%	-540.02%	-338.34%	-296.03%	-29.44%	-229.82%	-118.07%	-554.85%	-290.28%	-3,188.87%
ROIC Less NNEP Spread (ROIC-NNEP)	-34.93%	-87.05%	-533.72%	-332.84%	-294.61%	-23.31%	-226.59%	-116.60%	-559.23%	-295.45%	-3,175.11%
Return on Net Nonoperating Assets (RNNOA)	30.65%	77.73%	472.79%	296.32%	265.61%	21.02%	207.90%	103.38%	523.22%	269.50%	2,972.61%
Return on Equity (ROE)	-6.16%	-10.47%	-67.23%	-42.02%	-30.42%	-8.42%	-21.93%	-14.69%	-31.64%	-20.78%	-216.26%
Cash Return on Invested Capital (CROIC)	-131.81%	-54.01%	-64.22%	-183.67%	-150.64%	-243.68%	-231.49%	-137.34%	-211.66%	-127.33%	-321.53%
Operating Return on Assets (OROA)	-8.91%	-5.35%	-88.75%	-48.80%	-26.79%	-9.63%	-20.34%	-11.78%	-3.75%	-1.51%	-339.88%
Return on Assets (ROA)	-7.38%	-9.95%	-90.13%	-49.97%	-27.66%	-10.09%	-20.99%	-12.08%	-4.61%	-3.24%	-338.62%
Return on Common Equity (ROCE)	-6.16%	-10.47%	-67.25%	-42.08%	-30.48%	-8.45%	-21.93%	-14.71%	-31.71%	-20.84%	-216.26%
Return on Equity Simple (ROE_SIMPLE)	-17.79%	0.00%	-23.26%	-32.88%	-28.61%	0.00%	-32.98%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-13	-19	-38	-39	-39	-9.22	-30	-23	-33	-38	-55
NOPAT Margin	-21.62%	-37.57%	-239.20%	-162.12%	-217.12%	-17.47%	-92.35%	-53.25%	-158.40%	-132.94%	-1,206.90%
Net Nonoperating Expense Percent (NNEP)	-1.88%	-1.15%	-6.31%	-5.49%	-1.42%	-6.14%	-3.24%	-1.47%	4.37%	5.17%	-13.76%
Return On Investment Capital (ROIC_SIMPLE)	-1.91%	-2.25%	-4.88%	-5.32%	-4.40%	-1.10%	-3.81%	-3.03%	-4.39%	-4.97%	-8.73%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	21.12%	29.97%	86.18%	74.23%	82.98%	28.25%	52.97%	34.66%	67.39%	60.35%	392.14%
R&D to Revenue	109.76%	123.70%	355.52%	257.38%	327.19%	96.71%	178.96%	141.41%	258.90%	229.57%	1,432.00%
Operating Expenses to Revenue	130.88%	153.67%	441.71%	331.61%	410.17%	124.96%	231.93%	176.07%	326.29%	289.92%	1,824.14%
Earnings before Interest and Taxes (EBIT)	-29	-14	-73	-67	-46	-44	-47	-30	-4.90	-3.11	-129
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-30	-16	-76	-69	-46	-44	-47	-27	-3.96	-0.88	-127
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.83	1.95	2.25	2.12	1.75	2.37	1.17	0.90	1.34	1.72	1.72
Price to Tangible Book Value (P/TBV)	1.88	2.01	2.33	2.20	1.80	2.44	1.20	0.92	1.36	1.74	1.74
Price to Revenue (P/Rev)	8.41	7.40	8.18	8.30	13.48	14.55	5.89	3.81	5.57	8.71	9.08
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	7.15	14.10	15.94	9.64	12.76	12.21	3.12	0.00	6.25	15.30	17.90
Enterprise Value to Revenue (EV/Rev)	4.42	3.89	4.86	4.90	6.29	9.17	1.27	0.00	1.68	3.90	4.01
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	13.64	23.16	20.10	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.29	0.31	0.33	0.24	0.24	0.24	0.23	0.21	0.19	0.21
Long-Term Debt to Equity	0.00	0.24	0.25	0.26	0.18	0.17	0.16	0.15	0.14	0.12	0.16
Financial Leverage	-0.88	-0.89	-0.89	-0.89	-0.90	-0.90	-0.92	-0.89	-0.94	-0.91	-0.94
Leverage Ratio	1.16	1.30	1.32	1.32	1.29	1.43	1.45	1.47	1.40	1.40	1.42
Compound Leverage Factor	0.96	1.17	1.35	1.35	1.34	1.45	1.49	1.52	1.73	1.91	1.41
Debt to Total Capital	0.00%	22.25%	23.58%	24.68%	19.66%	19.53%	19.44%	18.95%	17.55%	15.85%	17.39%
Short-Term Debt to Total Capital	0.00%	3.25%	4.36%	5.34%	5.06%	5.78%	6.62%	6.57%	5.98%	5.73%	4.23%
Long-Term Debt to Total Capital	0.00%	19.00%	19.23%	19.33%	14.61%	13.75%	12.82%	12.38%	11.57%	10.13%	13.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.04%	-0.04%	-0.24%	-0.33%	-0.43%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	77.71%	76.46%	75.57%	80.67%	80.90%	80.56%	81.05%	82.45%	84.15%	82.61%
Debt to EBITDA	0.00	-1.40	-1.20	-0.90	-0.77	-0.70	-0.76	-0.90	-1.13	-1.53	-0.68
Net Debt to EBITDA	0.00	4.55	3.57	2.39	2.96	2.52	2.88	3.46	4.97	7.72	3.11
Long-Term Debt to EBITDA	0.00	-1.20	-0.98	-0.70	-0.57	-0.49	-0.50	-0.59	-0.75	-0.98	-0.52
Debt to NOPAT	0.00	-2.05	-1.99	-1.56	-1.18	-1.31	-1.32	-1.43	-1.39	-0.96	-0.73
Net Debt to NOPAT	0.00	6.63	5.92	4.13	4.51	4.73	5.03	5.52	6.10	4.86	3.32
Long-Term Debt to NOPAT	0.00	-1.75	-1.63	-1.22	-0.88	-0.92	-0.87	-0.94	-0.91	-0.62	-0.55
Altman Z-Score	6.76	2.71	2.47	1.99	2.16	3.02	1.08	0.67	1.54	2.28	0.86
Noncontrolling Interest Sharing Ratio	0.00%	0.02%	-0.03%	-0.15%	-0.21%	-0.24%	-0.03%	-0.15%	-0.22%	-0.27%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	10.77	8.60	8.09	7.53	6.49	6.61	5.89	5.34	5.99	6.25	6.57
Quick Ratio	10.36	8.35	7.85	7.20	6.26	6.39	5.74	5.11	5.70	6.02	6.22
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-22	33	7.48	-47	5.74	-44	-32	-13	-28	13	-24
Operating Cash Flow to CapEx	-963.31%	1,853.98%	-43,075.00%	-2,278.62%	-2,490.67%	-2,995.01%	-1,123.27%	-9,495.82%	-16,839.89%	-4,536.05%	-11,086.56%
Free Cash Flow to Firm to Interest Expense	-3,127.86	0.00	0.77	-5.05	0.64	0.00	-3.66	-1.57	-3.66	1.83	-5.20
Operating Cash Flow to Interest Expense	-3,897.29	0.00	-5.88	-7.43	-3.52	0.00	-1.87	-4.41	-4.02	-7.03	-14.39
Operating Cash Flow Less CapEx to Interest Expense	-4,301.86	0.00	-5.89	-7.75	-3.66	0.00	-2.04	-4.46	-4.04	-7.19	-14.52
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.19	0.19	0.17	0.10	0.12	0.14	0.17	0.16	0.14	0.12
Accounts Receivable Turnover	2.91	6.62	7.87	5.03	2.28	2.61	4.24	3.52	6.30	2.79	3.91
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	2.44	2.79	2.54	2.13	1.41	1.75	2.08	2.44	2.57	2.22	1.77
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	125.48	55.12	46.40	72.63	159.99	139.71	86.02	103.69	57.96	131.01	93.32
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	125.48	55.12	46.40	72.63	159.99	139.71	86.02	103.69	57.96	131.01	93.32
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	90	48	50	71	45	83	52	61	40	32	22
Invested Capital Turnover	1.70	2.35	2.26	2.09	1.36	1.69	2.49	2.22	3.50	2.18	2.64
Increase / (Decrease) in Invested Capital	9.11	-52	-46	8.12	-44	35	1.50	-10	-5.22	-51	-30
Enterprise Value (EV)	642	679	803	688	580	1,014	162	0.16	252	490	391
Market Capitalization	1,221	1,292	1,353	1,167	1,243	1,608	750	559	837	1,093	884
Book Value per Share	$11.04	$10.87	$9.82	$8.93	$11.46	$9.68	$9.08	$8.72	$8.77	$8.90	$7.03
Tangible Book Value per Share	$10.73	$10.56	$9.51	$8.62	$11.17	$9.42	$8.89	$8.56	$8.63	$8.78	$6.93
Total Capital	669	852	785	728	879	838	794	765	758	755	624
Total Debt	0.00	189	185	180	173	164	154	145	133	120	109
Total Long-Term Debt	0.00	162	151	141	128	115	102	95	88	76	82
Net Debt	-579	-614	-549	-477	-660	-591	-588	-559	-585	-604	-494
Capital Expenditures (CapEx)	2.83	0.98	0.13	3.03	1.28	1.66	1.44	0.38	0.18	1.14	0.61
Debt-free, Cash-free Net Working Capital (DFCFNWC)	24	-4.33	2.04	24	0.26	41	16	23	6.27	-0.55	-9.14
Debt-free Net Working Capital (DFNWC)	518	589	538	532	543	539	485	467	477	547	436
Net Working Capital (NWC)	518	562	504	493	499	490	433	417	432	504	409
Net Nonoperating Expense (NNE)	11	7.16	36	30	8.80	37	18	7.60	-27	-31	74
Net Nonoperating Obligations (NNO)	-579	-614	-549	-477	-660	-591	-588	-559	-585	-604	-494
Total Depreciation and Amortization (D&A)	-0.73	-2.20	-2.57	-1.41	-0.41	0.45	0.57	3.29	0.94	2.24	2.44
Debt-free, Cash-free Net Working Capital to Revenue	16.25%	-2.48%	1.23%	16.97%	0.28%	36.96%	12.43%	15.99%	4.18%	-0.44%	-9.39%
Debt-free Net Working Capital to Revenue	356.70%	337.54%	325.31%	378.66%	588.88%	487.47%	381.50%	318.08%	317.93%	435.74%	447.63%
Net Working Capital to Revenue	356.70%	321.67%	304.63%	350.97%	540.69%	443.62%	340.20%	283.86%	287.72%	401.28%	420.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.40)	($0.41)	($1.20)	($1.09)	($0.72)	($0.57)	($0.66)	($0.41)	($0.08)	($0.09)	($1.71)
Adjusted Weighted Average Basic Shares Outstanding	60.62M	60.50M	61.21M	61.68M	64.02M	65.04M	73.67M	74.28M	74.41M	74.24M	75.25M
Adjusted Diluted Earnings per Share	($0.40)	($0.41)	($1.20)	($1.09)	($0.72)	($0.57)	($0.66)	($0.41)	($0.08)	($0.09)	($1.71)
Adjusted Weighted Average Diluted Shares Outstanding	60.62M	60.50M	61.21M	61.68M	64.02M	65.04M	73.67M	74.28M	74.41M	74.24M	75.25M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	60.88M	61.12M	61.66M	61.83M	69.98M	70.46M	71.17M	71.32M	71.41M	73.34M	74.14M
Normalized Net Operating Profit after Tax (NOPAT)	-13	-19	-38	-39	-39	-9.22	-30	-23	-33	-38	-55
Normalized NOPAT Margin	-21.62%	-37.57%	-239.20%	-162.12%	-217.12%	-17.47%	-92.35%	-53.25%	-158.40%	-132.94%	-1,206.90%
Pre Tax Income Margin	-41.02%	-24.82%	-463.31%	-287.71%	-266.59%	-84.45%	-147.46%	-71.26%	-28.70%	-15.11%	-2,848.45%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-4,183.57	0.00	-7.54	-7.24	-5.09	0.00	-5.44	-3.65	-0.64	-0.42	-27.53
NOPAT to Interest Expense	-1,827.00	0.00	-3.95	-4.18	-4.28	0.00	-3.49	-2.82	-4.34	-5.10	-11.60
EBIT Less CapEx to Interest Expense	-4,588.14	0.00	-7.56	-7.56	-5.23	0.00	-5.61	-3.70	-0.66	-0.58	-27.66
NOPAT Less CapEx to Interest Expense	-2,231.57	0.00	-3.97	-4.50	-4.42	0.00	-3.66	-2.86	-4.36	-5.26	-11.73
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-5.11%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Xencor Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Xencor's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Xencor's net income appears to be on an upward trend, with a most recent value of -$92.14 million in 2025, rising from -$17.59 million in 2015. The previous period was -$236.54 million in 2024. Check out Xencor's forecast to explore projected trends and price targets.

Xencor's total operating income in 2025 was -$177.50 million, based on the following breakdown:

Total Gross Profit: $125.58 million
Total Operating Expenses: $303.08 million

Over the last 10 years, Xencor's total revenue changed from $27.76 million in 2015 to $125.58 million in 2025, a change of 352.3%.

Xencor's total liabilities were at $239.91 million at the end of 2025, a 13.7% decrease from 2024, and a 439.4% increase since 2015.

In the past 10 years, Xencor's cash and equivalents has ranged from $12.59 million in 2015 to $163.54 million in 2020, and is currently $54.07 million as of their latest financial filing in 2025.

Over the last 10 years, Xencor's book value per share changed from 4.01 in 2015 to 8.90 in 2025, a change of 121.8%.

Related Companies

Financial statements for NASDAQ:XNCR last updated on 5/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Xencor (XNCR) Financials

Financials Breakdown Chart

Xencor Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Xencor (XNCR) Financials

Annual Income Statements for Xencor

Quarterly Income Statements for Xencor

Annual Cash Flow Statements for Xencor

Quarterly Cash Flow Statements for Xencor

Annual Balance Sheets for Xencor

Quarterly Balance Sheets for Xencor

Annual Metrics And Ratios for Xencor

Quarterly Metrics And Ratios for Xencor

Financials Breakdown Chart

Xencor Financials - Frequently Asked Questions

When does Xencor's financial year end?

How has Xencor's net income changed over the last 10 years?

What is Xencor's operating income?

How has Xencor's revenue changed over the last 10 years?

How much debt does Xencor have?

How much cash does Xencor have?

How has Xencor's book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools