Overview Dividends

(GMAB) Genmab AS - Ratings and Ratios

Exchange: NASDAQ • Country: Denmark • Currency: USD • Type: Common Stock • ISIN: US3723032062

Antibody Therapies, Oncological Drugs, Hematology Treatments, Solid Tumor Agents

Biotechnology
Market Cap in USD: 20,904m

IPO / Inception: 2009-06-01
Return 12m vs S&P 500: 39.8%

EPS (Earnings per Share)

EPS CAGR: 43.00%
EPS Trend: 53.0%

Last SUE: 0.93
Qual. Beats: 2

Revenue

Rev. CAGR: -22.19%
Rev. Trend: -23.9%

Last SUE: -0.97
Qual. Beats: 0

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	33.7%
Value at Risk 5%th	53.7%
Relative Tail Risk	-3.20%

Reward TTM
Sharpe Ratio	1.41
Alpha	50.07
CAGR/Max DD	-0.13

Character TTM
Hurst Exponent	0.553
Beta	0.506
Beta Downside	0.562

Drawdowns 3y
Max DD	58.40%
Mean DD	32.24%
Median DD	33.51%

Description: GMAB Genmab AS December 19, 2025

Genmab A/S (NASDAQ:GMAB) is a Danish biotechnology firm that creates antibody-based therapeutics for oncology and a range of non-cancer indications. Its commercial portfolio includes EPKINLY and TEPKINLY for relapsed/refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma, as well as Tivdak for metastatic cervical cancer that has progressed after chemotherapy.

The pipeline is heavily weighted toward B-cell malignancies, with late-stage candidates such as epcoritamab (targeting R/R DLBCL, FL, CLL, and pediatric B-cell neoplasms) and tisotumab vedotin (solid tumors). Additional programs span multiple modalities, including ADCs (e.g., GEN1042), bispecifics (GEN3014), and novel antibodies (Mim8 for hemophilia A). The company also markets DARZALEX (multiple myeloma) and RYBREVANT (NSCLC) through partnership arrangements.

Key financial signals (as of Q3 2024) show GMAB generating €1.2 bn in net sales, driven primarily by DARZALEX royalties and its own oncology products, with a 12 % YoY increase in R&D spend reflecting the expansive pipeline. The biotech sector’s average forward-PE is ~30×, but GMAB trades at a forward-PE of ~22×, implying a relative discount that may be justified by its diversified partnership network (AbbVie, Pfizer, J&J, Novartis, etc.) and a projected compound annual growth rate (CAGR) of 15 % for antibody therapeutics through 2028.

For a deeper quantitative assessment, consult the ValueRay platform’s detailed valuation model for GMAB.

Piotroski VR‑10 (Strict, 0-10) 6.5

Net Income (6.57b TTM) > 0 and > 6% of Revenue (6% = 842.4m TTM)

FCFTA 0.41 (>2.0%) and ΔFCFTA 31.30pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 26.57% (prev 164.8%; Δ -138.2pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.46 (>3.0%) and CFO 3.21b <= Net Income 6.57b (YES >=105%, WARN >=100%)

Net Debt (-1.62b) to EBITDA (5.96b) ratio: -0.27 <= 3.0 (WARN <= 3.5)

Current Ratio 6.03 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (620.7m) change vs 12m ago -4.33% (target <= -2.0% for YES)

Gross Margin 94.31% (prev 96.09%; Δ -1.77pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 60.15% (prev 29.25%; Δ 30.90pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 48.21 (EBITDA TTM 5.96b / Interest Expense TTM 119.0m) >= 6 (WARN >= 3)

Altman Z'' 10.18

(A) 0.53 = (Total Current Assets 4.47b - Total Current Liabilities 741.0m) / Total Assets 7.02b

(B) 0.57 = Retained Earnings (Balance) 4.03b / Total Assets 7.02b

(D) 3.02 = Book Value of Equity 3.84b / Total Liabilities 1.27b

Total Rating: 10.18 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 78.16

1. Piotroski 6.50pt

2. FCF Yield 2.25%

3. FCF Margin 20.72%

4. Debt/Equity 0.02

5. Debt/Ebitda -0.27

6. ROIC - WACC (= 28.13)%

7. RoE 23.97%

8. Rev. Trend -23.89%

9. EPS Trend 52.98%

What is the price of GMAB shares?

As of December 27, 2025, the stock is trading at USD 33.42 with a total of 577,504 shares traded.
Over the past week, the price has changed by +3.21%, over one month by +4.70%, over three months by +14.96% and over the past year by +62.39%.

Is GMAB a buy, sell or hold?

Genmab AS has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy GMAB.

Strong Buy: 4
Buy: 1
Hold: 4
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the GMAB price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	37.8	13.1%
Analysts Target Price	37.8	13.1%
ValueRay Target Price	35.2	5.4%

GMAB Fundamental Data Overview December 27, 2025

Market Cap DKK = 132.56b (20.90b USD * 6.3415 USD.DKK)
P/E Trailing = 14.7895
P/E Forward = 12.3153
P/S = 5.4358
P/B = 3.6118
P/EG = 0.6496
Beta = 0.792
Revenue TTM = 14.04b DKK
EBIT TTM = 5.74b DKK
EBITDA TTM = 5.96b DKK
Long Term Debt = 142.0m DKK (from capitalLeaseObligations, last quarter)
Short Term Debt = 16.0m DKK (from shortTermDebt, last quarter)
Debt = 142.0m DKK (from shortLongTermDebtTotal, last quarter)
Net Debt = -1.62b DKK (from netDebt column, last quarter)
Enterprise Value = 129.29b DKK (132.56b + Debt 142.0m - CCE 3.41b)
Interest Coverage Ratio = 48.21 (Ebit TTM 5.74b / Interest Expense TTM 119.0m)
FCF Yield = 2.25% (FCF TTM 2.91b / Enterprise Value 129.29b)
FCF Margin = 20.72% (FCF TTM 2.91b / Revenue TTM 14.04b)
Net Margin = 46.80% (Net Income TTM 6.57b / Revenue TTM 14.04b)
Gross Margin = 94.31% ((Revenue TTM 14.04b - Cost of Revenue TTM 798.2m) / Revenue TTM)
Gross Margin QoQ = 94.32% (prev 93.84%)
Tobins Q-Ratio = 18.42 (Enterprise Value 129.29b / Total Assets 7.02b)
Interest Expense / Debt = 2.11% (Interest Expense 3.00m / Debt 142.0m)
Taxrate = 16.80% (81.0m / 482.0m)
NOPAT = 4.77b (EBIT 5.74b * (1 - 16.80%))
Current Ratio = 6.03 (Total Current Assets 4.47b / Total Current Liabilities 741.0m)
Debt / Equity = 0.02 (Debt 142.0m / totalStockholderEquity, last quarter 5.75b)
Debt / EBITDA = -0.27 (Net Debt -1.62b / EBITDA 5.96b)
Debt / FCF = -0.56 (Net Debt -1.62b / FCF TTM 2.91b)
Total Stockholder Equity = 27.41b (last 4 quarters mean from totalStockholderEquity)
RoA = 93.58% (Net Income 6.57b / Total Assets 7.02b)
RoE = 23.97% (Net Income TTM 6.57b / Total Stockholder Equity 27.41b)
RoCE = 20.83% (EBIT 5.74b / Capital Employed (Equity 27.41b + L.T.Debt 142.0m))
RoIC = 36.00% (NOPAT 4.77b / Invested Capital 13.26b)
WACC = 7.87% (E(132.56b)/V(132.71b) * Re(7.88%) + D(142.0m)/V(132.71b) * Rd(2.11%) * (1-Tc(0.17)))
Discount Rate = 7.88% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -2.86%
[DCF Debug] Terminal Value 79.12% ; FCFE base≈3.35b ; Y1≈3.56b ; Y5≈4.24b
Fair Price DCF = 120.5 (DCF Value 74.25b / Shares Outstanding 616.0m; 5y FCF grow 6.66% → 3.0% )
EPS Correlation: 52.98 | EPS CAGR: 43.00% | SUE: 0.93 | # QB: 2
Revenue Correlation: -23.89 | Revenue CAGR: -22.19% | SUE: -0.97 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.31 | Chg30d=N/A | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=1.51 | Chg30d=+0.255 | Revisions Net=+2 | Growth EPS=-20.9% | Growth Revenue=+15.6%

Additional Sources for GMAB Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle