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Strong institutional distribution: ownership decreased -93.60% quarter-over-quarter.
Data as of Q1 2026
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Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 12 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| EXAS | — | — | — | — | 17.7% | 69.7% | -6.4% | -8.7% | -8.7% | — | 11 |
Peers = companies sharing EXAS's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.25B 100.0% | $2.76B 100.0% | $2.50B 100.0% | $2.08B 100.0% | $1.77B 100.0% | $1.49B 100.0% | $876.3M 100.0% | $454.5M 100.0% | $266.0M 100.0% | $99.4M 100.0% |
| Cost of Revenue | $984.2M 30.3% | $840.1M 30.5% | $737.6M 29.5% | $661.4M 31.7% | $458.8M 26.0% | $354.3M 23.8% | $216.7M 24.7% | $116.6M 25.7% | $78.3M 29.4% | $45.2M 45.5% |
| Gross Profit | $2.26B 69.7% | $1.92B 69.5% | $1.76B 70.5% | $1.42B 68.3% | — | — | — | $336.5M 74.0% | $186.8M 70.2% | $54.2M 54.5% |
| Research & Development | $523.0M 16.1% | $431.2M 15.6% | $426.9M 17.1% | $394.2M 18.9% | $385.6M 21.8% | $554.1M 37.2% | $139.7M 15.9% | $67.3M 14.8% | $42.1M 15.8% | $33.5M 33.7% |
| Selling, General & Admin | $888.7M 27.4% | $781.8M 28.3% | $800.3M 32.0% | $663.4M 31.8% | $801.3M 45.3% | $481.4M 32.3% | $352.5M 40.2% | $178.0M 39.2% | $109.0M 41.0% | $76.9M 77.4% |
| Total Operating Expenses | $2.47B 76.0% | $2.98B 107.9% | $2.06B 82.2% | $2.00B 96.1% | $2.62B 148.4% | $2.28B 153.1% | $1.11B 126.7% | $496.0M 109.1% | $305.1M 114.7% | $223.2M 224.6% |
| Operating Income | -$206.3M -6.4% | -$1.05B -38.0% | -$215.0M -8.6% | -$593.5M -28.5% | -$855.7M -48.4% | -$767.7M -51.5% | -$233.8M -26.7% | -$159.5M -35.1% | -$118.3M -44.5% | -$169.0M -170.1% |
| Interest Expense | $39.4M 1.2% | $27.0M 1.0% | $19.4M 0.8% | $19.6M 0.9% | $18.6M 1.1% | $67.9M 4.6% | $199.2M 22.7% | $36.8M 8.1% | $206K 0.1% | — |
| Interest & Investment Income | — | — | — | — | $31.8M 1.8% | $6.6M 0.4% | $26.5M 3.0% | $21.2M 4.7% | $3.9M 1.5% | $2.0M 2.0% |
| Other Income (Expense), net | $2.4M 0.1% | $12.5M 0.5% | $13.3M 0.5% | -$39.1M -1.9% | $13.2M 0.7% | -$61.4M -4.1% | -$172.7M -19.7% | -$15.6M -3.4% | $3.7M 1.4% | $1.8M 1.8% |
| Pretax Income | -$203.9M -6.3% | -$1.04B -37.6% | -$201.7M -8.1% | -$632.6M -30.3% | -$842.5M -47.7% | -$829.1M -55.6% | -$406.4M -46.4% | -$175.1M -38.5% | -$114.6M -43.1% | -$167.2M -168.3% |
| Income Tax Expense | $4.1M 0.1% | -$7.3M -0.3% | $2.4M 0.1% | -$9.1M -0.4% | -$246.9M -14.0% | -$5.5M -0.4% | -$193.4M -22.1% | $92K 0.0% | -$187K -0.1% | — |
| Net Income | -$207.9M -6.4% | -$1.03B -37.3% | -$204.1M -8.2% | -$623.5M -29.9% | -$595.6M -33.7% | -$823.6M -55.2% | -$213.1M -24.3% | -$175.1M -38.5% | -$114.4M -43.0% | -$167.2M -168.3% |
| Per Share | ||||||||||
| EPS (Basic) | $-1.10 | $-5.59 | $-1.13 | $-3.54 | $-3.48 | $-5.45 | $-1.62 | — | — | — |
| EPS (Diluted) | $-1.10 | $-5.59 | $-1.13 | $-3.54 | $-3.48 | $-5.45 | $-1.62 | — | — | — |
| Weighted Avg Shares (Basic) | 188.7M | 184.2M | 180.1M | 176.4M | 171.3M | 151.1M | 131.3M | — | — | — |
| Weighted Avg Shares (Diluted) | 188.7M | 184.2M | 180.1M | 176.4M | 171.3M | 151.1M | 131.3M | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
6/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81 · book equity (no price)
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $357M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -9%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $956M covers all $24M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2018-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
No current price collected.
Where each multiple sits in its own 14-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 25.7 | 24.7 | 23.8 | 26.0 | 31.7 | 29.5 | 30.5 | 30.3 |
| Gross Profit | 74.0 | — | — | — | 68.3 | 70.5 | 69.5 | 69.7 |
| R&D | 14.8 | 15.9 | 37.2 | 21.8 | 18.9 | 17.1 | 15.6 | 16.1 |
| SG&A | 39.2 | 40.2 | 32.3 | 45.3 | 31.8 | 32.0 | 28.3 | 27.4 |
| Operating Income | -35.1 | -26.7 | -51.5 | -48.4 | -28.5 | -8.6 | -38.0 | -6.4 |
| Income Tax | 0.0 | -22.1 | -0.4 | -14.0 | -0.4 | 0.1 | -0.3 | 0.1 |
| Net Income | -38.5 | -24.3 | -55.2 | -33.7 | -29.9 | -8.2 | -37.3 | -6.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on EXAS: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.