Exact Sciences Corp

EXAS

Exact Sciences Corp

EXAS/Services-Medical Laboratories

A leading provider of cancer screening and diagnostic tests, Exact Sciences Corporation (together with its subsidiaries, Exact, we, us, our or the Company ) gives patients and health care professionals the clarity needed to take life-changing action earlier. Building on the success of the Cologuard and Oncotype DX tests, we are investing in our pipeline to develop innovative solutions for use b…

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ProfitabilityUnprofitable GrowthAccelerating Cash FlowHealthy conversion ValuationN/A

What stands out

The business is unprofitable at the operating level (-6.35% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.

What's changing

Revenue up 17.7% YoY with margins expanding 31.7pp.

What deserves caution

Net debt of $1.57B represents 4.4x FCF, leverage limits flexibility.

Profitability & Returns

TTM as of 2025-12 · YoY vs prior year · ROIC = NOPAT / invested capital

Revenue (TTM)

$3.25B

▲ +17.7% YoY

Net Income (TTM)

-$208M

▲ +79.8% YoY

Op. Margin

-6.35%

▲ +31.7pp YoY

ROIC

-3.30%

▲ +16.6pp YoY

Cash Flow & Balance Sheet

FCF = operating cash flow + capex · Net debt = total debt − cash · Balance sheet from latest filing

FCF (TTM)

$357M

▲ +378.6% YoY

Op. Cash Flow (TTM)

$491M

▲ +133.4% YoY

Net Debt

$1.57B

Cash & Equiv.

$965M

5Y CAGR: +16.8%

5Y CAGR: +38.0%

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Quality Scorecard

Is this a high-quality business?

Dividends

Payout safety and growth

DCF Valuation

What is it worth?

Financials

Full income, cash flow, balance sheet

SourceComputed from the 10-Q filed 12 Feb 2026, covering the period ending 31 Dec 2025, as reported to the SEC. Data last refreshed 25 Sept 2026. How this is calculated.

Fiscal year ends Dec. Sector medians are approximate S&P 500 benchmarks and update periodically.

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Spot a number that looks wrong? Check it in EXAS's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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