Xencor, Inc. (XNCR) Stock Analysis
Healthcare · Biotechnology · NasdaqGM
Xencor, Inc. (XNCR) posted $125.58M in revenue for fiscal 2025 (up 13.7% year over year), with a net loss of $91.92M, and has compounded revenue about 0.5%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Xencor, Inc.
Xencor, Inc. has grown revenue from $109.02M to $125.58M over the last 10 fiscal years, compounding about 0.5% a year. The most recent year was up 13.7%, so growth is actually accelerating.
Net margin sits at -73.2%, up 137.3 points year over year. It carries about $119.75M of total debt.
The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Xencor, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Xencor, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $109.02M | $46.15M | $40.60M | $156.70M | $122.69M | $275.11M | $164.58M | $168.34M | $110.49M | $125.58M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $45.13M | $-38.49M | $-70.41M | $26.88M | $-69.33M | $82.63M | $-55.18M | $-126.09M | $-232.62M | $-91.92M |
| Net margin | 41.4% | -83.4% | -173.4% | 17.2% | -56.5% | 30.0% | -33.5% | -74.9% | -210.5% | -73.2% |
Source: Xencor, Inc. SEC filings (10-K). 14 years of history available in the interactive view.
Xencor, Inc.: 3 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 21.1% over 4 years (59.4M → 71.9M) — existing holders' stakes are being diluted.
- Debt with negative operating cash flowCarries $119.7M of debt while last year's operating cash flow was negative ($-135.1M).
- Currently unprofitableThe latest fiscal year was a net loss (net margin -73.2%).
Explore 14 years of Xencor, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Xencor, Inc. financial history by metric
Compare Xencor, Inc. with peers
About Xencor, Inc.
Xencor, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery and development of engineered antibodies for the treatment of cancer and autoimmune diseases. The company provides Ultomiris to treat patients with atypical hemolytic uremic syndrome, generalized myasthenia gravis, and neuromyelitis optica spectrum disororder; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma. It also develops XmAb819, a bispecific antibody to treat renal cell carcinoma; XmAb541, which is in Phase I for the treatment of ovarian cancer; XmAb808, a bispecific antibody that binds to the broadly expressed tumor antigen; XmAb942, which is in clinical development for patients with Crohn's disease and ulcerative colitis; Plamotamab, a bispecific T-cell, which is in Phase Ib study to treat rheumatoid arthritis; and XmAb657 for patients with idiopathic inflammatory myopathies. Further, the company develops Xaluritamig, a bispecific T-cell engager that treats prostate cancer; ASP2138 to treat gastric, gastroesophageal junction, and pancreatic cancers; JNJ-9401 to treat metastatic castration-resistant prostate cancer; Obexelimab, an antibody to treat patients with autoimmune diseases; Tobevibart, a treatment for chronic hepatitis Delta; Zaltenibart to treat paroxysmal nocturnal hemoglobinuria and other alternative pathway disorders; Teropavimab and zinlirvimab to treat human immunodeficiency virus; Novartis, an antibody drug candidate that uses XmAb Fc technologies; and JNJ-1493 to treat B-cell malignancies. The company was incorporated in 1997 and is headquartered in Pasadena, California.
Xencor, Inc. — frequently asked questions
What is Xencor, Inc.'s revenue?
Xencor, Inc. (XNCR) reported revenue of $125.58M for fiscal year 2025, up 13.7% from the prior year, according to its SEC filings.
Is Xencor, Inc. profitable?
No — XNCR reported a net loss of $-91.92M in fiscal 2025.
What is XNCR's P/E ratio?
Xencor, Inc. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is Xencor, Inc. growing?
XNCR's revenue grew at roughly 0.5% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Xencor, Inc. have?
As of fiscal year 2025, XNCR carried roughly $119.75M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Xencor, Inc.'s market cap?
Xencor, Inc. (XNCR) has a market capitalization of about $881.54M, based on the latest data in our nightly-refreshed cache.
When does Xencor, Inc.'s fiscal year end?
XNCR's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Xencor, Inc.'s official SEC filings (10-K and 10-Q), covering 14 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.