What is Xencor's debt-to-equity?

Xencor (XNCR) reported debt-to-equity of 0.3× in Q1 2026.

How has Xencor's debt-to-equity changed year-over-year?

Xencor's debt-to-equity decreased by 2.2% year-over-year, from 0.3× to 0.3×.

What is the long-term trend for Xencor's debt-to-equity?

Over 5 years (2020 to 2025), Xencor's debt-to-equity has grown at a 70.8% compound annual growth rate (CAGR), from 0× to 0.3×.

What does debt-to-equity mean?

Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

Xencor XNCR Debt-to-equity

Debt-to-equity at other companies

AmgenAMGN

6.2×-3.0×

Regeneron PharmaceuticalsREGN

0.1×0.0×

Janux TherapeuticsJANX

0×0.0×

AbCellera Biologics Inc.ABCL

0.1×+0.1×

AnaptysBio, Inc.ANAB

0×-0.5×

Xenon PharmaceuticalsXENE

0×0.0×

Other financials

Income statement

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Revenue$4.5M-86.2%

Operating income-$77.9M-80.3%

Net income-$128.9M-166%

EPS (diluted)-$1.71-159%

Balance sheet

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Cash & equivalents$14.2M-64.3%

Total debt$175.2M-21.2%

Total equity$515.6M-19.4%

Total assets$736.8M-18.6%

Cash flow

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Operating cash flow-$67.6M-317%

CapEx$610.0K-57.8%

Free cash flow-$68.2M-286%

Valuation

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Market cap$1.07B+76.3%

Enterprise value$1.23B+55.9%

P/S11×+6.2×

Profitability

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Operating margin-217.9%+425pp

Net margin-177.1%+16.5pp

FCF margin-194%+166pp

Returns & leverage

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Return on equity-29.8%-2.7pp

Current ratio6.6×+0.7×

Where this comes from

Calculated from Xencor’s reported figures.

total debt/total stockholders equity=0.3×

Based on the most recent quarter.

The official record: Xencor’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Xencor's debt-to-equity?: Xencor (XNCR) reported debt-to-equity of 0.3× in Q1 2026.
How has Xencor's debt-to-equity changed year-over-year?: Xencor's debt-to-equity decreased by 2.2% year-over-year, from 0.3× to 0.3×.
What is the long-term trend for Xencor's debt-to-equity?: Over 5 years (2020 to 2025), Xencor's debt-to-equity has grown at a 70.8% compound annual growth rate (CAGR), from 0× to 0.3×.
What does debt-to-equity mean?: Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.