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XOMA is a royalty aggregator that plays a distinctive role in helping biotech companies achieve their goal of improving human health. We do this by providing capital in exchange for the economic rights to future milestone and royalty payments associated with clinical candidates and approved products.
21.83% operating margin is above average. ROIC at 5.42%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue up 83.1% YoY with margins expanding 162.2pp.
Net debt of $49M represents 16.9x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$49M
▲ +83.1% YoY
Net Income (TTM)
$34M
▲ +329.4% YoY
Op. Margin
10.25%
▲ +162.2pp YoY
ROIC
2.32%
▲ +20.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$7M
▲ +120.9% YoY
Op. Cash Flow (TTM)
$7M
▲ +120.9% YoY
Net Debt
$39M
Cash & Equiv.
$86M
5Y CAGR: +12.2%
5Y CAGR: -22.2%
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