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Moderna vs Exelixis: MRNA and EXEL compared
Moderna is the larger company: $1.3B of revenue in its latest quarter (Q3 2026) against $659M for Exelixis (Q3 2026). Moderna is growing faster (+29% against +10% a year earlier). Exelixis is more profitable, with an operating margin of 40.8% against 9.9%.
Where the money goes: MRNA and EXEL
Moderna (MRNA) · Q3 2026
Moderna, Q3 2026: revenue $1.3B (+29% year over year), operating margin 9.9%, net earnings $162M, operating cash flow −$1.6B. The chart follows the revenue to costs, profit and cash.
Exelixis (EXEL) · Q3 2026
Exelixis, Q3 2026: revenue $659M (+10% year over year), operating margin 40.8%, net earnings $218M, operating cash flow $280M. The chart follows the revenue to costs, profit and cash.
| Moderna (MRNA) | Exelixis (EXEL) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.3B | $659M |
| Revenue growth, Y/Y | +29% | +10% |
| Operating margin | 9.9% | 40.8% |
| Net earnings | $162M | $218M |
| Net margin | 12.3% | 33.1% |
| Operating cash flow | −$1.6B | $280M |
| Free cash flow | — | $277M |
| Market value | $109.3B | $17.8B |
| P/E | — | 20.8× |
| Analysts’ mean target | $145.42 | $61.57 |
Where the revenue comes from
Moderna
- Net product sales: $1.3B (97%)
- RSV: $29.0M (2%)
- Collaboration Arrangement, Including Arrangements with Affiliate: $8.0M (1%)
Exelixis
- Net product revenues: $605M (92%)
- Collaboration: $53.8M (8%)
- COMETRIQ: $1.8M (0%)
Questions
Which is bigger, Moderna or Exelixis?
Moderna is the larger company: $1.3B of revenue in its latest quarter (Q3 2026) against $659M for Exelixis (Q3 2026).
Is Moderna or Exelixis growing faster?
Moderna is growing faster (+29% against +10% a year earlier).
Which is more profitable, Moderna or Exelixis?
Exelixis is more profitable, with an operating margin of 40.8% against 9.9%.
More: Moderna earnings · how Moderna makes money · Exelixis earnings · how Exelixis makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.