Exagen (XGN) Invested Capital (2018 - 2026)
Exagen (XGN) reported Invested Capital of $35.06 million for Q2 2026, down 20.3% from $44.01 million a year earlier and down 6.0% from the prior quarter.
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Analysis
Exagen (XGN) Invested Capital (2018 - 2026) Analysis & Trends
For FY2025, Exagen posted Invested Capital of $40.36 million, up 35.5% from FY2024.
- Invested Capital has a five-year compound annual growth rate of -10.0% (FY2020 to FY2025).
- By year, Invested Capital came in at $29.79 million in FY2024 (-29.4%), $42.19 million in FY2023 (-40.9%), $71.43 million in FY2022 (-36.5%) and $112.41 million in FY2021 (+64.1%).
- The Q2 2026 figure ranks as the lowest quarterly Invested Capital since Q1 2025.
- Year over year, Invested Capital gained in four of the last eight quarters, with growth averaging 0.3%.
- The high point for year-over-year Invested Capital in five years was Q3 2021 (growth of 66.5%); the low point was Q3 2023 (a decline of 44.2%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $37.3 million (Q1 2026), $40.36 million (Q4 2025) and $41.08 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 93.06 Bn | 92.50 Bn | - | 43.08 Bn |
| 2 | Natera | 59.36 Bn | 55.04 Bn | 485.19 Mn | 1.90 Bn |
| 3 | Quest Diagnostics | 25.72 Bn | 24.15 Bn | 1.03 Bn | 13.46 Bn |
| 4 | Labcorp Holdings | 24.93 Bn | 22.69 Bn | 1.11 Bn | 14.47 Bn |
| 5 | Guardant Health | 23.83 Bn | 19.89 Bn | 219.03 Mn | - |
| 6 | Tenet Healthcare | 20.58 Bn | 11.72 Bn | - | 19.81 Bn |
| 7 | Tempus AI | 14.35 Bn | 11.38 Bn | 246.50 Mn | 444.93 Mn |
| 8 | Encompass Health | 11.99 Bn | 12.46 Bn | - | 6.04 Bn |
| 9 | BrightSpring Health Services | 11.21 Bn | 9.55 Bn | 492.75 Mn | 4.24 Bn |
| 10 | Exagen | 196.69 Mn | 82.66 Mn | 12.22 Mn | 35.06 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 35.06 Mn |
| Mar 31, 2026 | 37.30 Mn |
| Dec 31, 2025 | 40.36 Mn |
| Sep 30, 2025 | 41.08 Mn |
| Jun 30, 2025 | 44.01 Mn |
| Mar 31, 2025 | 27.34 Mn |
| Dec 31, 2024 | 29.79 Mn |
| Sep 30, 2024 | 33.12 Mn |
| Jun 30, 2024 | 37.84 Mn |
| Mar 31, 2024 | 39.53 Mn |
| Dec 31, 2023 | 42.19 Mn |
| Sep 30, 2023 | 46.96 Mn |
| Jun 30, 2023 | 51.31 Mn |
| Mar 31, 2023 | 65.28 Mn |
| Dec 31, 2022 | 71.43 Mn |
| Sep 30, 2022 | 84.19 Mn |
| Jun 30, 2022 | 90.65 Mn |
| Mar 31, 2022 | 103.81 Mn |
| Dec 31, 2021 | 112.41 Mn |
| Sep 30, 2021 | 118.09 Mn |
API Access
Exagen Invested Capital API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=invested-capital&ticker=XGN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "ticker": "XGN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=invested-capital&ticker=XGN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();