Xencor Inc

Health Care
Biotechnology: Pharmaceutical Preparations
www.xencor.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.58B
PE -8
Debt $17.92M
Cash $29.42M
EV $1.57B
FCF $29.18M

Earnings

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Sales & Net Margins

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Earnings	-$201.68M
EBIT	-$199.11M
ROE	-28%
ROA	-20%
FCF	$29.18M
Equity	$723.84M
Growth Stability	-412%
PE	-7.83
PEG	-10.97
PB	2.18
P/FCF	54.11
P/S	18.54
Price/Cash	0.02
Debt/Equity	0.02
Debt/FCF	0.61
Net Margins	-451%
Op. Margins	-234%
Earnings CAGR	1%
Sales Growth YoY	-82%
Sales Growth QoQ	-37%
Sales CAGR	8%
FCF CAGR	-0%
Equity CAGR	20%
Earnings Stability	0.01
Earnings Growth YoY	91%
Earnings Growth QoQ	-31%

Earnings CAGR 5Y	1%
Sales CAGR 5Y	5%
FCF CAGR 5Y	-3%
Equity CAGR 5Y	3%
Earnings CAGR 3Y	-32%
Sales CAGR 3Y	-32%
FCF CAGR 3Y	14%
Equity CAGR 3Y	-7%
Market Cap	$1.58B
Revenue	$85.16M
Assets	$983.64M
Total Debt	$17.92M
Cash	$29.42M
Shares Outstanding	62.31M
EV	1.57B
Earnings Score	6%
Moat Score	1%
Safety Score	66%
Final Score	24%
Working Capital	481.36M
Current Ratio	6.23
Shares Growth 3y	2%
Equity Growth QoQ	28%
Equity Growth YoY	8%

Assets & ROA

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Stockholders Equity & ROE

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Xencor Inc is a clinical-stage biopharmaceutical company based in the United States. It focuses on discovering and developing engineered monoclonal antibody and other protein therapeutics to treat severe and life-threatening diseases with unmet medical needs. The company uses its XmAb technology platform to create antibody product candidates such as XmAb5871 and XmAb7195. It also has a few pre-clinical stage candidates in its portfolio such as XmAb14045 and XmAb13676. It earns its revenue from research and development collaborations and licenses of its internally developed drug candidates.

SEC Filings

Direct access to Xencor Inc (XNCR) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Xencor Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Xencor Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 1%

Stability 1%

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Xencor Inc Discounted Cash Flow

Fully customizable DCF calculator online for Xencor Inc.

Years

Calculation mode

= $287M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$29M	$29M	$29M	$29M	$29M	$29M	$29M	$29M	$29M	$28M	$28M	$284M
DCF		$26M	$24M	$22M	$20M	$18M	$16M	$15M	$13M	$12M	$11M	$110M
Value	$287M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-	-	22%	-106%	-173%	17%	-57%	30%	-34%	-75%	-451%
ROA	-	-9%	6%	-13%	-12%	4%	-10%	10%	-6%	-13%	-20%
ROE	-	-11%	8%	-17%	-13%	5%	-12%	11%	-8%	-19%	-28%

Bad Net Margins (-450.68%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-0	0.31	0.61
Debt over Equity	-	-	-	-	-	-	-	-	0	0.03	0.02
Growth Stability	-	-	-	-	-	-	-	-	-412%	-	-412%

Good Debt/FCF ratio (0.61)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.02)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-412%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-	-	-58%	-12%	286%	-22%	124%	-40%	2%	5%
Earnings YoY growth	-	7%	-234%	-307%	44%	-138%	-358%	-219%	-167%	129%	1%
Equity YoY growth	-	174%	93%	-10%	85%	14%	-3%	28%	-1%	-8%	3%
FCF YoY growth	-	-212%	276%	-142%	123%	-166%	-127%	94%	-54%	-576%	-3%