GMAB Stock Analysis: Genmab | CO
Biotechnology | CO, Denmark | Market Cap: 162.580m DKK | 12M Return: 58.5% | DK0010272202 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 341M
EPS Trend: 66.2%
Qual. Beats: 0
Rev. Trend: -81.5%
Qual. Beats: -1
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Genmab A/S is a Danish biotechnology company founded in 1998 and headquartered in Copenhagen that develops antibody-based therapeutics for cancer and other serious diseases. The company markets EPKINLY/TEPKINLY for relapsed or refractory large B-cell lymphomas and follicular lymphoma, and Tivdak for recurrent/metastatic cervical cancer, while advancing a broad pipeline of oncology candidates including epcoritamab, tisotumab vedotin, acasunlimab, rinatabart sesutecan, and several early-stage solid tumor programs.
In addition to its proprietary products, Genmab generates revenue through royalty and profit-share arrangements with major pharmaceutical partners, including DARZALEX/DARZALEX FASPRO (multiple myeloma) and TECVAYLI/TALVEY with Johnson & Johnson, RYBREVANT and amivantamab with Janssen, Kesimpta with Novartis, and TEPEZZA with Amgen. The company maintains collaboration agreements with AbbVie, Pfizer, BioNTech, Bristol Myers Squibb, Lundbeck, Novo Nordisk, and argenx, covering additional partnered assets such as amlenetug, inclacumab, and Mim8.
Genmab operates a hybrid biotech business model that combines internally developed and co-owned antibody products with a heavy reliance on licensing, co-development, and royalty partnerships with larger pharmaceutical companies. Antibody-based therapeutics represent one of the largest and fastest-growing segments of the oncology drug market, and Genmabs pipeline spans both hematologic malignancies and solid tumors, as well as adjacent indications such as multiple sclerosis, thyroid eye disease, sickle cell disease, and hemophilia A.
- DARZALEX royalties with Johnson & Johnson underpin revenue base
- Epcoritamab commercial uptake accelerates in DLBCL and follicular lymphoma
- Pipeline label expansions and regulatory approvals drive future growth
| Net Income: 788.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -68.83 > 1.0 |
| NWC/Revenue: 40.10% < 20% (prev 24.10%; Δ 16.00% < -1%) |
| CFO/TA 0.07 > 3% & CFO 893.1m > Net Income 788.2m |
| Net Debt (3.91b) to EBITDA (1.39b): 2.80 < 3 |
| Current Ratio: 2.46 > 1.5 & < 3 |
| Outstanding Shares: last quarter (61.7m) vs 12m ago -0.45% < -2% |
| Gross Margin: 93.03% > 18% (prev 94.79%; Δ -1.76% > 0.5%) |
| Asset Turnover: 43.61% > 50% (prev 210.6%; Δ -167.0% > 0%) |
| Interest Coverage Ratio: 4.86 > 6 (EBIT TTM 1.30b / Interest Expense TTM 267.5m) |
| A: 0.13 (Total Current Assets 2.80b - Total Current Liabilities 1.14b) / Total Assets 12.5b |
| B: 0.35 (Retained Earnings 4.42b / Total Assets 12.5b) |
| C: 0.14 (EBIT TTM 1.30b / Avg Total Assets 9.50b) |
| D: 0.91 (Book Value of Equity 5.96b / Total Liabilities 6.56b) |
| Altman-Z'' = 3.90 = AA |
| DSRI: 3.0 (Receivables 1.28b/1.00b, Revenue 4.14b/13.7b) |
| GMI: 1.02 (GM 94.79% / 93.03%) |
| AQI: 2.15 (AQ_t 0.76 / AQ_t-1 0.35) |
| SGI: 0.30 (Revenue 4.14b / 13.7b) |
| TATA: -0.01 (NI 788.2m - CFO 893.1m) / TA 12.5b) |
| Beneish M = -1.18 (Cap -4..+1) = D |
As of October 27, 2026, the stock is trading at DKK 2964.00 with a total of 470,264 shares traded. Over the past week, the price has changed by +16.60%, over one month by +28.76%, over three months by +55.35% and over the past year by +58.50%.
Current recommended Stop Loss: 2870.30 (which is 3.2% or 1.3 ATR below the current price).
Genmab has no consensus analysts rating.
Market Cap USD = 24.3b (163b DKK * 0.1495 DKK.USD)
P/E Trailing = 32.6098
P/E Forward = 18.7266
P/S = 39.3561
P/B = 3.3461
P/EG = 5.4121
Revenue TTM = 4.14b USD
EBIT TTM = 1.30b USD
EBITDA TTM = 1.39b USD
Long Term Debt = 4.84b USD (from longTermDebt, last quarter)
Short Term Debt = 312.0m USD (from shortTermDebt, last quarter)
Debt = 5.41b USD (from shortLongTermDebtTotal, last quarter) + Leases 138.0m
Net Debt = 3.91b USD (calculated: Debt 5.41b - CCE 1.50b)
Enterprise Value = 28.2b USD (24.3b + Debt 5.41b - CCE 1.50b)
Interest Coverage Ratio = 4.86 (Ebit TTM 1.30b / Interest Expense TTM 267.5m)
EV/FCF = 32.43x (Enterprise Value 28.2b / FCF TTM 869.9m)
FCF Yield = 3.08% (FCF TTM 869.9m / Enterprise Value 28.2b)
FCF Margin = 21.00% (FCF TTM 869.9m / Revenue TTM 4.14b)
Net Margin = 19.03% (Net Income TTM 788.2m / Revenue TTM 4.14b)
Gross Margin = 93.03% ((Revenue TTM 4.14b - Cost of Revenue TTM 288.5m) / Revenue TTM)
Gross Margin QoQ = 92.73% (prev 92.75%)
Tobins Q-Ratio = 2.25 (Enterprise Value 28.2b / Total Assets 12.5b)
Interest Expense / Debt = 4.94% (Interest Expense 267.5m / Debt 5.41b)
Taxrate = 13.04% (118.2m / 906.4m)
NOPAT = 1.13b (EBIT 1.30b * (1 - 13.04%))
Current Ratio = 2.46 (Total Current Assets 2.80b / Total Current Liabilities 1.14b)
Debt / Equity = 0.91 (Debt 5.41b / totalStockholderEquity, last quarter 5.96b)
Debt / EBITDA = 2.80 (Net Debt 3.91b / EBITDA 1.39b)
Debt / FCF = 4.49 (Net Debt 3.91b / FCF TTM 869.9m)
Total Stockholder Equity = 5.80b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.30% (Net Income 788.2m / Total Assets 12.5b)
RoE = 13.58% (Net Income TTM 788.2m / Total Stockholder Equity 5.80b)
RoCE = 12.21% (EBIT 1.30b / Capital Employed (Equity 5.80b + L.T.Debt 4.84b))
RoIC = 9.85% (NOPAT 1.13b / Invested Capital 11.5b)
WACC = 6.57% (E(24.3b)/V(29.7b) * Re(7.07%) + D(5.41b)/V(29.7b) * Rd(4.94%) * (1-Tc(0.13)))
Discount Rate = 7.07% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -35.48 | Cagr: -2.72%
[DCF] Terminal Value 73.10% ; FCFF base≈2.49b ; Y1≈2.18b ; Y5≈1.76b
[DCF] Fair Price = 396.4 (EV 28.3b - Net Debt 3.91b = Equity 24.4b / Shares 61.5m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 66.18 | EPS CAGR: 23.45% | SUE: 0.77 | # QB: 0
Revenue Correlation: -81.52 | Revenue CAGR: -46.13% | SUE: -0.91 | # QB: -1
EPS current Quarter (2026-09-30): EPS=23.13 | Chg30d=-16.37% | Revisions=+0% | Analysts=4
EPS current Year (2026-12-31): EPS=83.27 | Chg30d=+0.35% | Revisions=+30% | GrowthEPS=-25.6% | GrowthRev=+26.7%
EPS next Year (2027-12-31): EPS=117.45 | Chg30d=+8.04% | Revisions=+10% | GrowthEPS=+41.0% | GrowthRev=+18.8%
[Analyst] Revisions Ratio: +21% (up=10, down=6)