Is Exelixis, Inc. overvalued or undervalued?

As of 28 July 2025, Exelixis, Inc. has moved from a very attractive to an attractive valuation grade. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 17, an EV to EBITDA of 12.68, and a PEG ratio of 0.08, which suggests strong growth potential relative to its price.
In comparison to its peers, Exelixis has a lower P/E ratio than Neurocrine Biosciences, Inc. at 37.08 and a more favorable EV to EBITDA ratio than Viatris, Inc. at 44.86. The company's strong return on capital employed (ROCE) of 74.07% and return on equity (ROE) of 32.08% further support its valuation. Notably, Exelixis has outperformed the S&P 500 across multiple periods, with a 1-year return of 50.82% compared to the S&P 500's 17.14%, reinforcing the attractiveness of its current valuation.