Xencor Inc. Common Stock (XNCR)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look first for a durable business earning consistent profits, and Xencor does not fit that mold. It is a clinical-stage biotech with 260 employees, developing engineered antibodies for cancer and autoimmune disease. It has product revenue from Ultomiris and Monjuvi, but the financial record is one of losses. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $51.2M and net loss was $21.7M, or diluted EPS of -$0.29. That compared with fiscal Q2 2025, the quarter ended 2025-06-30, when revenue was $43.6M and net loss was $30.8M, or diluted EPS of -$0.41. But fiscal Q1 2026, the quarter ended 2026-03-31, had revenue of only $4.5M and a net loss of $128.9M, or diluted EPS of -$1.71. For FY2025, the year ended 2025-12-31, revenue was $125.6M and net loss $91.9M; FY2024, the year ended 2024-12-31, revenue was $110.5M and net loss $232.6M; FY2023, the year ended 2023-12-31, revenue was $174.6M and net loss $133.1M. Revenue is lumpy and profits are absent. Leverage is modest with D/E 0.34, and FairStock's Altman Z-Score is 3.54, so immediate solvency may not be pressing. Yet trailing free cash flow is -$208.3M and FCF yield is -11.9%. At the 2026-10-13 close of $23.52, FairStock calculates P/E -10.89, P/B 3.47, ROE -29.07%, ROCE -16.84%, and Piotroski 3/9. The Lynch category is none because losses occurred in each of the last four years. Growth rests on clinical and regulatory success, not a proven moat. I would watch cash burn and pipeline milestones, not near-term earnings.

In plain English: Xencor is a small healthcare company that develops engineered antibody medicines for cancer and autoimmune diseases. The business is not consistently profitable, has reported losses in recent years, and uses cash, though it does have some product revenue. At the 2026-10-13 close of $23.52, the stock does not look cheap based on current profits, because there are no current profits to support it.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer