Exact Sciences Corp Stock Research

Market Summary

USD67.38+1.10

Market Closed

1.66%

EXAS Alerts

8 major insider sales recently.
Big jump in Earnings (Y/Y)
Losses in recent quarter

EXAS Stock Price

EXAS RSI Chart

EXAS Valuation

Market Cap

11.8B

Price/Earnings (Trailing)

-18.91

Price/Sales (Trailing)

5.66

EV/EBITDA

-22.43

Price/Free Cashflow

-26.92

EXAS Price/Sales (Trailing)

EXAS Profitability

Operating Margin

72.44%

EBT Margin

-30.35%

Return on Equity

-20.49%

Return on Assets

-10.01%

Free Cashflow Yield

-3.71%

EXAS Fundamentals

EXAS Revenue

Revenue (TTM)

2.1B

Revenue Y/Y

16.71%

Revenue Q/Q

5.72%

EXAS Earnings

Earnings (TTM)

-623.5M

Earnings Y/Y

42.09%

Earnings Q/Q

14.13%

Price Action

52 Week Range

29.2776.94

(Low)(High)

Last 7 days

0.2%

Last 30 days

2.5%

Last 90 days

31.4%

Trailing 12 Months

-1.2%

EXAS Financial Health

Current Ratio

2.38

EXAS Investor Care

Shares Dilution (1Y)

2.45%

Diluted EPS (TTM)

-3.54

Peers (Alternatives to Exact Sciences)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
GILD	99.8B	27.3B	-4.19%	39.66%	21.72	3.66	-0.09%	-26.23%
MRNA	58.1B	19.3B	-4.61%	-16.03%	6.95	3.02	4.29%	-31.47%
INCY	15.6B	3.4B	-10.55%	-10.18%	45.92	4.61	13.67%	-64.09%
EXAS	11.8B	2.1B	2.51%	-1.24%	-18.91	5.66	17.95%	-4.68%
MID-CAP
EXEL	6.0B	1.6B	6.39%	-14.17%	32.84	3.72	12.27%	-21.11%
SYNH	3.6B	5.4B	-7.30%	-56.29%	13.33	0.66	3.46%	13.48%
DNLI	3.1B	108.5M	-21.66%	-32.82%	-9.55	28.71	122.90%	-12.19%
ARWR	2.6B	278.3M	-26.06%	-48.44%	-16.69	9.26	92.72%	15.56%
SMALL-CAP
AVXL	680.4M	-	-13.75%	-31.50%	-13.59	291.16	-34.21%	-22.31%
NVAX	519.7M	2.0B	-33.63%	-92.58%	-0.79	0.26	72.89%	62.27%
PGEN	199.8M	80.7M	-24.99%	-55.14%	7.06	4.15	13.30%	130.72%
SRNE	143.9M	60.3M	-71.28%	-88.95%	-0.29	2.39	17.51%	-38.93%
TENX	15.6M	-	-26.15%	-25.71%	-0.24	-	-	-67.11%
NNVC	14.4M	-	-6.77%	-46.09%	-2.09	-	-	20.96%

Financials for Exact Sciences

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	3.9%	2,084,279,000	2,005,096,000	1,938,402,000	1,851,581,000	1,767,087,000
Cost Of Revenue	5.1%	574,394,000	546,300,000	514,101,000	483,469,000	458,757,000
S&GA Expenses	-8.1%	846,011,000	920,104,000	929,024,000	907,929,000	861,889,000
R&D Expenses	1.5%	393,400,000	387,586,000	372,129,000	372,281,000	385,600,000
EBITDA	15.7%	-514,945,333	-611,176,333	-633,140,333	-644,919,000	-
EBITDA Margin	18.9%	-0.25	-0.30	-0.44	-0.35	-
Earnings Before Taxes	13.0%	-632,570,000	-727,497,000	-746,416,000	-751,489,000	-842,506,000
EBT Margin	16.4%	-0.30	-0.36	-0.52	-0.41	-
Interest Expenses	7.1%	19,634,000	18,330,000	18,885,000	18,744,000	18,606,000
Net Income	13.0%	-623,506,000	-716,372,000	-734,549,000	-745,398,000	-595,625,000
Net Income Margin	16.3%	-0.30	-0.36	-0.51	-0.40	-
Free Cahsflow	12.6%	-438,021,000	-501,146,000	-495,227,000	-355,232,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-1.3%	6,227	6,307	6,437	6,491	6,685
Current Assets	-6.3%	982	1,049	1,102	1,215	1,426
Cash Equivalents	3.1%	242	235	213	190	315
Inventory	3.1%	118	115	115	113	105
Net PPE	10.0%	685	623	580	-	-
Goodwill	0.0%	2,346	2,345	2,346	2,335	2,335
Liabilities	-0.4%	3,184	3,198	3,228	3,232	3,297
Current Liabilities	-2.6%	413	424	443	481	517
Shareholder's Equity	-2.1%	3,043	3,109	3,209	3,258	3,388
Retained Earnings	-4.1%	-3,265	-3,137	-2,988	-2,822	-2,641
Additional Paid-In Capital	0.9%	6,312	6,255	6,205	6,086	6,029
Shares Outstanding	0.4%	178	177	177	176	174

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	25.5%	-223	-300	-300	-198	-102
Share Based Compensation	-4.6%	207	217	172	114	253
Cashflow From Investing	-64.8%	74.00	211	96.00	-719	-1,082
Cashflow From Financing	41.2%	76.00	54.00	54.00	4.00	8.00

Risks for EXAS

What is the probability of a big loss on EXAS?

100%

Probability that Exact Sciences stock will be more than 20% underwater in next one year

78.8%

Probability that Exact Sciences stock will be more than 30% underwater in next one year.

51.9%

Probability that Exact Sciences stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does EXAS drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Exact Sciences was unfortunately bought at previous high price.

Drawdowns

Returns for EXAS

Cumulative Returns on EXAS

20.8%

10-Year Cumulative Returns

40.4%

7-Year Cumulative Returns

8.5%

5-Year Cumulative Returns

6.6%

3-Year Cumulative Returns

What are the long-term rolling returns for EXAS?

FIve years rolling returns for Exact Sciences.

Annualized Returns

Which funds bought or sold EXAS recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	BAILLIE GIFFORD & CO	added	2.45	87,764,800	244,147,000	0.25%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-0.05	338,407	984,407	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-28.71	14,000	172,000	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	unchanged	-	476	2,476	-%
2023-02-28	Voya Investment Management LLC	reduced	-0.58	532,655	1,565,660	-%
2023-02-27	ST GERMAIN D J CO INC	new	-	16,091	16,091	-%
2023-02-24	NATIXIS	sold off	-100	-10,880,000	-	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	added	28.11	1,188,000	2,434,000	0.03%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	unchanged	-	1,725	10,725	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	unchanged	-	1,153	6,153	-%

Latest Funds Activity

Are funds buying EXAS calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own EXAS

No. of Funds

Exact Sciences News

Schedule 13G FIlings of Exact Sciences

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 10, 2023	ark investment management llc	9.03%	16,040,490	SC 13G/A
Feb 09, 2023	vanguard group inc	9.71%	17,252,465	SC 13G/A
Feb 07, 2023	blackrock inc.	6.4%	11,354,134	SC 13G/A
Feb 06, 2023	wellington management group llp	5.86%	10,404,476	SC 13G/A
Sep 12, 2022	price t rowe associates inc /md/	3.7%	6,464,337	SC 13G/A
Mar 10, 2022	price t rowe associates inc /md/	10.7%	18,724,736	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	8.0%	13,788,133	SC 13G/A
Feb 11, 2022	capital world investors	2.7%	4,682,850	SC 13G/A
Feb 09, 2022	ark investment management llc	7.83%	13,496,014	SC 13G
Feb 04, 2022	blackrock inc.	5.5%	9,497,012	SC 13G

EXAS Fair Value

Exact Sciences fair value in different scenarios

The table shows the Fair Value estimates for Exact Sciences for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	5.60 -91.69%	7.74 -88.51%	14.15 -79.00%	26.51 -60.66%	51.53 -23.52%
Current Inflation	5.43 -91.94%	7.34 -89.11%	12.90 -80.85%	23.46 -65.18%	44.74 -33.60%
Very High Inflation	5.23 -92.24%	6.85 -89.83%	11.41 -83.07%	19.92 -70.44%	36.93 -45.19%

Historical Exact Sciences Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Exact Sciences

View All Filings

Date Filed	Form Type	Document
Mar 17, 2023	424B7	Prospectus Filed
Mar 17, 2023	8-K	Current Report
Mar 07, 2023	4	Insider Trading
Mar 03, 2023	8-K	Current Report
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	8-K	Current Report
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading

Latest Insider Trading transactions for EXAS

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-03	ORVILLE JACOB A	sold	-325,000	65.00	-5,000	general manager, screening
2023-03-01	Cunningham Everett	sold	-224,972	62.01	-3,628	chief commercial officer
2023-03-01	Condella Sarah	sold	-62,000	62.00	-1,000	evp, human resources
2023-02-28	Condella Sarah	sold	-178,715	61.12	-2,924	evp, human resources
2023-02-28	Conroy Kevin T	sold	-636,626	61.12	-10,416	president and ceo
2023-02-28	Baranick Brian	sold	-118,084	61.12	-1,932	gen. mgr., precision oncology
2023-02-28	Elliott Jeffrey Thomas	sold	-258,721	61.12	-4,233	chief financial officer
2023-02-28	ORVILLE JACOB A	sold	-411,872	60.2857	-6,832	general manager, screening
2023-02-28	Herriott James	sold	-134,453	60.4283	-2,225	general counsel
2023-02-28	COWARD D SCOTT	sold	-253,831	61.12	-4,153	-

About Exact Sciences

Kevin T. Conroy

www.exactsciences.com

6500

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX, a gene expression tests for breast, prostate, and colon cancers; Oncotype Test, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; Oncomap ExTra, that provides a complete biological picture of certain refractory, rare, or aggressive cancers; and Covid-19 testing services. The company's pipeline products focus on enhancing the Cologuard test's performance characteristics and developing blood and other fluid-based tests. It has license agreements with MAYO Foundation for Medical Education and Research; and Hologic, Inc. Exact Sciences Corporation was incorporated in 1995 and is headquartered in Madison, Wisconsin.

EXAS Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 2,084,279	$ 1,767,087	$ 1,491,391
Operating expenses:
Cost of sales (exclusive of amortization of acquired intangible assets)	574,394	458,757	354,324
Research and development	393,418	385,646	554,052
Sales and marketing	846,011	861,889	589,919
General and administrative	737,304	801,262	481,393
Amortization of acquired intangible assets	97,450	95,001	93,398
Impairment of long-lived assets	15,969	20,210	209,666
Total operating expenses	2,664,546	2,622,765	2,282,752
Other operating income (loss)	(13,244)	0	23,665
Loss from operations	(593,511)	(855,678)	(767,696)
Other income (expense)
Investment income (loss), net	(19,425)	31,778	6,574
Interest expense	(19,634)	(18,606)	(67,941)
Total other income (expense)	(39,059)	13,172	(61,367)
Net loss before tax	(632,570)	(842,506)	(829,063)
Income tax benefit	9,064	246,881	5,458
Net loss	$ (623,506)	$ (595,625)	$ (823,605)
Net loss per share - basic (in dollars per share)	$ (3.54)	$ (3.48)	$ (5.45)
Net loss per share - diluted (in dollars per share)	$ (3.54)	$ (3.48)	$ (5.45)
Weighted average common shares outstanding - basic (in shares)	176,351	171,348	151,137
Weighted average common shares outstanding - diluted (in shares)	176,351	171,348	151,137

EXAS Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 242,493	$ 315,471
Marketable securities	389,564	715,005
Accounts receivable, net	158,043	216,645
Inventory	118,259	104,994
Prepaid expenses and other current assets	73,898	74,122
Total current assets	982,257	1,426,237
Long-term assets:
Property, plant and equipment, net	684,756	580,248
Operating lease right-of-use assets	167,003	174,225
Goodwill	2,346,040	2,335,172
Intangible assets, net	1,956,240	2,094,411
Other long-term assets, net	90,577	74,591
Total assets	6,226,873	6,684,884
Current liabilities:
Accounts payable	74,916	67,829
Accrued liabilities	299,216	398,556
Operating lease liabilities, current portion	28,366	19,710
Other current liabilities	10,249	30,973
Total current liabilities	412,747	517,068
Convertible notes, net	2,186,106	2,180,232
Long-term debt	50,000	0
Other long-term liabilities	352,459	417,782
Operating lease liabilities, less current portion	182,399	182,166
Total liabilities	3,183,711	3,297,248
3183711000
Stockholders’ equity:
Preferred stock, $0.01 par value Authorized—5,000,000 shares issued and outstanding—no shares at December 31, 2022 and December 31, 2021	0	0
Common stock, $0.01 par value Authorized—400,000,000 shares issued and outstanding—177,925,631 and 173,674,067 shares at December 31, 2022 and December 31, 2021	1,780	1,738
Additional paid-in capital	6,311,644	6,028,861
Accumulated other comprehensive loss	(5,236)	(1,443)
Accumulated deficit	(3,265,026)	(2,641,520)
Total stockholders’ equity	3,043,162	3,387,636
Total liabilities and stockholders’ equity	$ 6,226,873	$ 6,684,884