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Other financials

Income statement

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Revenue$51.2M+17.5%
Operating income-$37.1M-11.7%
Net income-$21.7M+29.5%
EPS (diluted)-$0.29+29.3%

Balance sheet

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Cash & equivalents$44.7M+0.5%
Total debt$170.1M-20.1%
Total equity$503.2M-18.9%
Total assets$725.0M-17.6%

Cash flow

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Operating cash flow-$55.7M-53.0%
CapEx$538.0K+40.5%
Free cash flow-$56.2M-52.9%

Valuation

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Market cap$1.6B+221%
Enterprise value$1.73B+159%
P/S15.3×+11.9×

Profitability

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Operating margin-205.8%-2,501pp
Net margin-155.6%+78.8pp
FCF margin-198.4%-1,485pp

Returns & leverage

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Return on equity-29.1%+0.2pp
Debt / equity0.3×0.0×
Current ratio6.4×+1.1×

Where this comes from

Reported directly by Xencor in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Xencor’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:02 PM EDT
Fiscal quarter
Q4 FY2028
Calendar quarter
Q4 2028
Accession
0001326732-26-000056
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Revenue
Collaborations, milestones, and royalties$51,221$43,608$55,737$76,340
Operating expenses:
Research and development71,90561,665136,574120,243
General and administrative16,38415,11534,09332,452
Total operating expenses88,28976,780170,667152,695
Operating loss(37,068)(33,172)(114,930)(76,355)
Other income (expense):

Item 1. Financial Statements

FAQ

What is Xencor's R&D?
Xencor (XNCR) reported R&D of $71.91M in Q2 2026.
How has Xencor's R&D changed year-over-year?
Xencor's R&D increased by 16.6% year-over-year, from $61.67M to $71.91M.
What is the long-term trend for Xencor's R&D?
Over 4 years (2021 to 2025), Xencor's R&D has grown at a 5.6% compound annual growth rate (CAGR), from $192.51M to $239.43M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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