Stock Analysis: Affordable Growth

Fundamental Rating

EXEL gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 572 industry peers in the Biotechnology industry. EXEL gets an excellent profitability rating and is at the same time showing great financial health properties. EXEL is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one! These ratings could make EXEL a good candidate for growth and quality investing.

1. Profitability

1.1 Basic Checks

In the past year EXEL was profitable.

EXEL had a positive operating cash flow in the past year.

EXEL had positive earnings in each of the past 5 years.

In the past 5 years EXEL always reported a positive cash flow from operatings.

1.2 Ratios

Looking at the Return On Assets, with a value of 17.68%, EXEL belongs to the top of the industry, outperforming 98.22% of the companies in the same industry.

EXEL has a Return On Equity of 23.23%. This is amongst the best in the industry. EXEL outperforms 97.87% of its industry peers.

The Return On Invested Capital of EXEL (21.31%) is better than 98.58% of its industry peers.

The Average Return On Invested Capital over the past 3 years for EXEL is below the industry average of 14.04%.

The 3 year average ROIC (10.78%) for EXEL is below the current ROIC(21.31%), indicating increased profibility in the last year.

		Industry Rank	Sector Rank
ROA	17.68%
ROE	23.23%
ROIC	21.31%

ROA(3y)10.23%

ROA(5y)8.95%

ROE(3y)13.24%

ROE(5y)11.23%

ROIC(3y)10.78%

ROIC(5y)9.34%

1.3 Margins

With an excellent Profit Margin value of 24.04%, EXEL belongs to the best of the industry, outperforming 97.51% of the companies in the same industry.

In the last couple of years the Profit Margin of EXEL has declined.

With an excellent Operating Margin value of 31.81%, EXEL belongs to the best of the industry, outperforming 98.58% of the companies in the same industry.

In the last couple of years the Operating Margin of EXEL has declined.

EXEL has a Gross Margin of 96.49%. This is amongst the best in the industry. EXEL outperforms 96.98% of its industry peers.

In the last couple of years the Gross Margin of EXEL has remained more or less at the same level.

		Industry Rank	Sector Rank
OM	31.81%
PM (TTM)	24.04%
GM	96.49%

OM growth 3Y16.77%

OM growth 5Y-3.58%

PM growth 3Y14.28%

PM growth 5Y-6.24%

GM growth 3Y0.06%

GM growth 5Y-0.02%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

EXEL has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.

EXEL has less shares outstanding than it did 1 year ago.

Compared to 5 years ago, EXEL has less shares outstanding

EXEL has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.

2.2 Solvency

EXEL has an Altman-Z score of 10.27. This indicates that EXEL is financially healthy and has little risk of bankruptcy at the moment.

EXEL's Altman-Z score of 10.27 is amongst the best of the industry. EXEL outperforms 87.39% of its industry peers.

There is no outstanding debt for EXEL. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.

		Industry Rank	Sector Rank
Debt/Equity	0
Debt/FCF	0
Altman-Z	10.27

ROIC/WACC2.26

WACC9.44%

2.3 Liquidity

EXEL has a Current Ratio of 3.63. This indicates that EXEL is financially healthy and has no problem in meeting its short term obligations.

Looking at the Current ratio, with a value of 3.63, EXEL is in line with its industry, outperforming 42.81% of the companies in the same industry.

A Quick Ratio of 3.58 indicates that EXEL has no problem at all paying its short term obligations.

EXEL has a Quick ratio (3.58) which is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Current Ratio	3.63
Quick Ratio	3.58

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 189.06% over the past year.

EXEL shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 12.65% yearly.

The Revenue has grown by 18.50% in the past year. This is quite good.

EXEL shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 17.51% yearly.

EPS 1Y (TTM)189.06%

EPS 3Y37.61%

EPS 5Y12.65%

EPS Q2Q%77.78%

Revenue 1Y (TTM)18.5%

Revenue growth 3Y14.76%

Revenue growth 5Y17.51%

Sales Q2Q%18.16%

3.2 Future

The Earnings Per Share is expected to grow by 25.81% on average over the next years. This is a very strong growth

The Revenue is expected to grow by 9.91% on average over the next years. This is quite good.

EPS Next Y12.27%

EPS Next 2Y14.46%

EPS Next 3Y19.76%

EPS Next 5Y25.81%

Revenue Next Year3.53%

Revenue Next 2Y6.83%

Revenue Next 3Y8.96%

Revenue Next 5Y9.91%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 19.92 indicates a rather expensive valuation of EXEL.

Compared to the rest of the industry, the Price/Earnings ratio of EXEL indicates a rather cheap valuation: EXEL is cheaper than 95.91% of the companies listed in the same industry.

When comparing the Price/Earnings ratio of EXEL to the average of the S&P500 Index (29.63), we can say EXEL is valued slightly cheaper.

A Price/Forward Earnings ratio of 17.74 indicates a rather expensive valuation of EXEL.

Based on the Price/Forward Earnings ratio, EXEL is valued cheaply inside the industry as 95.38% of the companies are valued more expensively.

Compared to an average S&P500 Price/Forward Earnings ratio of 22.68, EXEL is valued a bit cheaper.

		Industry Rank	Sector Rank
PE	19.92
Fwd PE	17.74

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, EXEL is valued cheaply inside the industry as 97.16% of the companies are valued more expensively.

97.16% of the companies in the same industry are more expensive than EXEL, based on the Price/Free Cash Flow ratio.