Exact Sciences's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Exact Sciences (EXAS) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Exact Sciences vs Its Competitors
- TTM: Trailing 12-month revenue of 3,245M vs 24,597M combined for its competitors (11.7% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+8.3% annualized vs trailing 12 months), vs accelerating (+2.7%) for its tracked peer group.
- Growth: Exact Sciences generated 23.1% revenue growth year over year in Q4 2025, vs 14.6% for its competitors combined.
- Profitability: Its -9.8% net margin compares with 1.9% for the peer group.
- Peer revenue share: Exact Sciences accounted for 12.2% of combined revenue among its tracked peer group, up from 11.5% a year earlier.
- Peer differentiation: Revenue per employee of $0.45M compares with $0.37M for the peer group (1.2x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
EXAS Sales vs. its Competitors, Q4 2025
Exact Sciences reported revenue growth of 23.12 % year on year in Q4 2025, above its competitors' combined revenue growth of 14.56 %.
With a net margin of -9.79 %, Exact Sciences reported lower profitability than its competitors (1.92 %).
Exact Sciences generated 12.21 % of the combined sales of its peer group, up from 11.46 % a year earlier.
API endpoints for this dataset
Exact Sciences vs. its Competitors, Q4 2025
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Exact Sciences reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Exact Sciences and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Exact Sciences Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Exact Sciences's competitor groups requires a Commercial License.
For context: the Medical Laboratories industry grew revenue 9.0% year over year, combined, vs 23.1% for Exact Sciences. Exact Sciences's share of combined industry revenue moved from 1.30% to 1.47%, a gain of 0.17 percentage points.
Exact Sciences's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Exact Sciences Corporation | No | Yes | Yes | No |
| Competitors combined (33) | ||||
| High-Confidence Competitors (11) | ||||
| Similar Growth & Profitability (8) | 25.00 % (2 of 8) | 100.00 % (8 of 8) | 62.50 % (5 of 8) | 37.50 % (3 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
EXAS Stock Performance relative to its Competitors
EXAS Stock Performance relative to High-Confidence Competitors
EXAS Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Caredx Inc | 282.9% | Outperformed |
| 2 | Ironwood Pharmaceuticals inc | 282.9% | Outperformed |
| 3 | Check Cap Ltd | 282.9% | Outperformed |
| 4 | Fortrea Holdings Inc | 282.9% | Outperformed |
| 5 | Illumina Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Exact Sciences's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Exact Sciences's Comment on Competition and Industry Peers
Publicly Traded Peers of Exact Sciences Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Exact Sciences Corporation |
19,599.02 | 3,245.31 |
 Natera Inc |
44,512.49 | 2,707.08 |
 Illumina Inc |
32,822.02 | 4,538.00 |
 Guardant Health Inc |
20,045.64 | 1,183.11 |
 Hologic Inc |
17,087.75 | 3,644.80 |
 Theralink Technologies Inc |
9,596.34 | 0.51 |
| SUBTOTAL | 174,905.08 | 27,857.19 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Exact Sciences Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Exact Sciences's Competitors Named by the Company
Competitive relationships identified from Exact Sciences reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Natera Inc | Company report | 85% |
| Veracyte Inc | Company report | 85% |
| Volitionrx Limited | Company report | 85% |
| Lunai Bioworks Inc | Company report | 85% |
| Genedx Holdings Corp | Company report | 85% |
| Guardant Health Inc | Company report | 85% |
| Quantum Cyber N v | Company report | 85% |
| Aspira Women s Health inc | Company report | 85% |
| Caris Life Sciences Inc | Company report | 85% |
| AWH | Company report | 85% |
| Geneoscopy | Company report | 85% |
| RENB | Company report | 85% |
| Mdxhealth Sa | Company report | 85% |
| Epi proColon | Company report | 85% |
| PillCam COLON | Company report | 85% |
| C-Scan | Company report | 85% |
| Prescient Metabiomics | Company report | 85% |
| Mainz Biomed | Company report | 85% |
| Odonate Therapeutics Inc | Company report | 85% |
| Motus Gi Holdings Inc | Company report | 85% |
| Illumina Inc | Company report | 85% |
| Hologic Inc | Company report | 85% |
| Neogenomics Inc | Company report | 85% |
| Dermtech Inc | Company report | 85% |
| Myriad Genetics Inc | Company report | 85% |
| Grail Inc | Company report | 85% |
| Interpace Biosciences Inc | Company report | 85% |
| Fulgent Genetics Inc | Company report | 85% |
| Burning Rock Biotech Limited | Company report | 85% |
| Invitae Corporation | Company report | 85% |
| Accustem Sciences Inc | Company report | 85% |
| Centogene N v | Company report | 85% |
| Htg Molecular Diagnostics Inc | Company report | 85% |
| Biodesix Inc | Company report | 85% |
| Insight Molecular Diagnostics Inc | Company report | 85% |
| Personalis Inc | Company report | 85% |
| Sophia Genetics Sa | Company report | 85% |
| Check Cap Ltd | Company report | 85% |
| Biocept Inc | Company report | 85% |
| Theralink Technologies Inc | Company report | 85% |
| Cardio Diagnostics Holdings Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Exact Sciences's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Exact Sciences's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Natera Inc | Reportable 100.00 % |
| Illumina Inc | Sequencing 90.43 % |
| Guardant Health Inc | Reportable 100.00 % |
| Hologic Inc | Diagnostics 51.18 % |
| Grail Inc | Reportable 100.00 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Exact Sciences's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Exact Sciences Corporation | 19,599 | 450,738 | -28,882 |
| Natera Inc | 44,512 | 440,892 | -31,327 |
| Illumina Inc | 32,822 | 3,545,313 | 699,219 |
| Guardant Health Inc | 20,046 | 472,109 | -180,940 |
| Hologic Inc | 17,088 | 515,530 | 76,917 |
| Theralink Technologies Inc | 9,596 | - | - |
| PEERS TOTAL | 155,306 | 365,590 | -4,558 |
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Exact Sciences's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Exact Sciences Corporation | United States 93.11 % |
| Natera Inc | United States 98.02 % |
| Illumina Inc | United States and Canada 56.42 % |
| Guardant Health Inc | United States 95.67 % |
| Hologic Inc | Non-US 30.23 % |
| Caredx Inc | United States 99.60 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Exact Sciences's Position in Industry Market Structure
Market-capitalization share and concentration across all 41 companies in Exact Sciences's industry classification, broader than the peer set above. Market cap in millions of $.Exact Sciences ranks #0 of 41 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 805, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Iqvia Holdings Inc | 45,477 | 12.91 % |
| 2 | Natera Inc | 44,512 | 12.63 % |
| 3 | Ge Healthcare Technologies Inc | 37,401 | 10.62 % |
| 4 | Labcorp Holdings Inc | 30,059 | 8.53 % |
| 5 | Quest Diagnostics Inc | 1,234 | 5.2% |
| 6 | Koninklijke Philips Nv | 1,234 | 5.2% |
| 7 | Incyte Corporation | 1,234 | 5.2% |
| 8 | Guardant Health Inc | 1,234 | 5.2% |
| 9 | Medpace Holdings Inc | 1,234 | 5.2% |
| 10 | Charles River Laboratories International inc | 1,234 | 5.2% |
| 0 | Exact Sciences Corporation | 19,833 | 0.00 % |
Market cap and industry share for the rest of Exact Sciences's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-03-20.
Exact Sciences's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Medical Laboratories industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (77 companies). See the full Medical Laboratories industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 69.72 % | 33.04 % (avg) | +36.7 pp |
| Operating Margin | -6.36 % | industry median | +0.0 pp |
| EBITDA Margin | 1.16 % | -4.66 % (avg) | +5.8 pp |
| Capital Intensity (Capex / Revenue) | 4.15 % | 7.45 % (avg) | -3.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Exact Sciences's Valuation vs Competitive Position
Valuation multiples vs the Medical Laboratories industry average (77 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Medical Laboratories industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 39.0x | - |
| EV / EBITDA | 447.3x | 20.9x | +426.4x |
| P/B | 6.2x | 4.3x | +1.9x |
| Return on Equity | -8.51 % | industry aggregate | -15.45 % |
| Return on Invested Capital | -2.68 % | -7.64 % (avg) | 4.96 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Exact Sciences's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 70.86 % | 92.82 % | 70.19 % | 18.49 % | 16.85 % | 21.09 % | 11.22 % | 16.38 % |
| Operating Margin | -35.09 % | -26.68 % | -51.50 % | -48.42 % | -28.74 % | -8.58 % | -37.61 % | -6.36 % |
| Return on Invested Capital | -7.78 % | -7.78 % | -11.33 % | -8.93 % | -6.54 % | -2.38 % | -12.04 % | -2.68 % |
| P/E | - | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Exact Sciences's Strategic Group Map
Exact Sciences is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Exact Sciences's trailing-12-month revenue growth of 16.4% and operating margin of -6.4% compares with an average of 11.1% growth and -5.4% margin across its 8 closest peers by combined growth, margin and ROIC -- Exact Sciences sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Exact Sciences's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 805 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 4.15 % vs industry average 7.45 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Exact Sciences's dedicated Suppliers and Customers pages, not here.
Exact Sciences's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Exact Sciences falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Exact Sciences's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+8.3% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Return on equity 15.5 points below the industry aggregate.
Opportunities
- A meaningful share of competitors (31.30 %) show financial-distress signals, a possible opening to gain share.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Exact Sciences's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Exact Sciences Corporation | 1.22 | 2.68 | 0.95 |
| Natera Inc | - | 3.14 | 0.05 |
| Illumina Inc | - | 2.02 | 0.68 |
| Guardant Health Inc | 2.56 | 4.29 | - |
| Hologic Inc | 1.88 | 3.64 | 0.51 |
| Theralink Technologies Inc | 0.01 | 0.01 | - |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Exact Sciences's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Exact Sciences Corporation | Q4 2025 | +23.1 % | - |
| Natera Inc | Q2 2026 | +37.7 % | - |
| Illumina Inc | Q3 2026 | +4.2 % | +46.7 % |
| Guardant Health Inc | Q2 2026 | +44.3 % | - |
| Hologic Inc | Q4 2025 | +44.8 % | -10.9 % |
| Theralink Technologies Inc | Q4 2023 | -72.5 % | - |
| PEERS TOTAL | +15.4 % | - |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Exact Sciences's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Exact Sciences Corporation | Q4 2025 | +19.5 % | - |
| Natera Inc | Q2 2026 | -99.3 % | +144.9 % |
| Illumina Inc | Q3 2026 | -14.8 % | +29.0 % |
| Guardant Health Inc | Q2 2026 | +42.8 % | +108.2 % |
| Hologic Inc | Q4 2025 | -18.1 % | -54.3 % |
| Theralink Technologies Inc | Q4 2023 | -18.1 % | - |
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Exact Sciences's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Exact Sciences Corporation | - | - | - |
| Natera Inc | - | - | - |
| Illumina Inc | 13.43% | 18.74% | 31.45% |
| Guardant Health Inc | - | - | - |
| Hologic Inc | 6.12% | 7.26% | 11.01% |
| Theralink Technologies Inc | - | - | - |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Exact Sciences's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Exact Sciences Corporation | - | 6.04 |
| Natera Inc | - | 16.44 |
| Illumina Inc | 36.81 | 7.23 |
| Guardant Health Inc | - | 16.94 |
| Hologic Inc | 31.65 | 4.69 |
| Theralink Technologies Inc | - | 18,761.98 |
| PEERS AVERAGE | - | 6.28 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.