(GMAB) Genmab AS - Overview
Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 16.705m USD | Total Return: 26.3% in 12m
Avg Turnover: 40.7M
EPS Trend: 82.2%
Qual. Beats: 0
Rev. Trend: -59.2%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Genmab A/S is a Denmark-based biotechnology firm specializing in antibody-based therapies for oncology and other chronic diseases. The company’s commercial portfolio includes EPKINLY/TEPKINLY for lymphoma and Tivdak for cervical cancer, alongside a diverse pipeline of candidates targeting solid tumors and hematological malignancies.
The company operates through a high-leverage partnership model, collaborating with global pharmaceutical leaders such as AbbVie, Johnson & Johnson, and Pfizer to co-develop and commercialize its proprietary antibody platforms. In the biotechnology sector, this strategy mitigates the high capital expenditure associated with late-stage clinical trials while securing royalty streams from established blockbusters like DARZALEX and Kesimpta.
Evaluating the long-term sustainability of these royalty structures on ValueRay can provide deeper insight into the companys valuation. Genmab continues to expand its pipeline into niche indications, including rare diseases such as thyroid eye disease and hemophilia A, utilizing advanced antibody formats to address unmet medical needs.
- Darzalex royalty revenue streams drive core earnings and cash flow stability
- Epkinly market penetration in lymphoma indications dictates near-term growth trajectory
- Clinical trial data for Acasunlimab and Rinatabart Sesutecan impacts pipeline valuation
- Expansion of Johnson & Johnson partnership products influences long-term royalty projections
- Regulatory approval timelines for cervical and lung cancer treatments affect revenue diversification
| Net Income: 2.61b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -1.08 > 1.0 |
| NWC/Revenue: 15.78% < 20% (prev 154.3%; Δ -138.5% < -1%) |
| CFO/TA 0.10 > 3% & CFO 1.23b > Net Income 2.61b |
| Net Debt (3.97b) to EBITDA (3.29b): 1.21 < 3 |
| Current Ratio: 2.18 > 1.5 & < 3 |
| Outstanding Shares: last quarter (638.6m) vs 12m ago -0.12% < -2% |
| Gross Margin: 93.60% > 18% (prev 0.95%; Δ 9.27k% > 0.5%) |
| Asset Turnover: 33.14% > 50% (prev 32.90%; Δ 0.24% > 0%) |
| Interest Coverage Ratio: 14.83 > 6 (EBITDA TTM 3.29b / Interest Expense TTM 216.3m) |
| A: 0.11 (Total Current Assets 2.57b - Total Current Liabilities 1.18b) / Total Assets 12.4b |
| B: 0.33 (Retained Earnings 4.09b / Total Assets 12.4b) |
| C: 0.12 (EBIT TTM 3.21b / Avg Total Assets 26.7b) |
| D: 0.56 (Book Value of Equity 3.76b / Total Liabilities 6.69b) |
| Altman-Z'' = 3.22 = A |
| DSRI: 0.25 (Receivables 1.03b/6.32b, Revenue 8.84b/13.5b) |
| GMI: 1.01 (GM 93.60% / 94.95%) |
| AQI: 2.19 (AQ_t 0.77 / AQ_t-1 0.35) |
| SGI: 0.66 (Revenue 8.84b / 13.5b) |
| TATA: 0.11 (NI 2.61b - CFO 1.23b) / TA 12.4b) |
| Beneish M = -3.06 (Cap -4..+1) = AA |
As of May 25, 2026, the stock is trading at USD 26.87 with a total of 1,205,395 shares traded.
Over the past week, the price has changed by +1.24%,
over one month by +0.00%,
over three months by -8.61% and
over the past year by +26.27%.
Genmab AS has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy GMAB.
- StrongBuy: 4
- Buy: 1
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 37.6 | 39.7% |
P/E Trailing = 20.771
P/E Forward = 16.0256
P/S = 4.2823
P/B = 2.94
P/EG = 1.8079
Revenue TTM = 8.84b USD
EBIT TTM = 3.21b USD
EBITDA TTM = 3.29b USD
Long Term Debt = 4.93b USD (from longTermDebt, last quarter)
Short Term Debt = 293.0m USD (from shortTermDebt, last quarter)
Debt = 5.49b USD (from shortLongTermDebtTotal, last quarter) + Leases 143.0m
Net Debt = 3.97b USD (calculated: Debt 5.49b - CCE 1.52b)
Enterprise Value = 20.7b USD (16.7b + Debt 5.49b - CCE 1.52b)
Interest Coverage Ratio = 14.83 (Ebit TTM 3.21b / Interest Expense TTM 216.3m)
EV/FCF = 18.00x (Enterprise Value 20.7b / FCF TTM 1.15b)
FCF Yield = 5.56% (FCF TTM 1.15b / Enterprise Value 20.7b)
FCF Margin = 13.00% (FCF TTM 1.15b / Revenue TTM 8.84b)
Net Margin = 29.58% (Net Income TTM 2.61b / Revenue TTM 8.84b)
Gross Margin = 93.60% ((Revenue TTM 8.84b - Cost of Revenue TTM 565.2m) / Revenue TTM)
Gross Margin QoQ = 92.75% (prev 92.34%)
Tobins Q-Ratio = 1.67 (Enterprise Value 20.7b / Total Assets 12.4b)
Interest Expense / Debt = 3.94% (Interest Expense 216.3m / Debt 5.49b)
Taxrate = 28.38% (21.1m / 74.3m)
NOPAT = 2.30b (EBIT 3.21b * (1 - 28.38%))
Current Ratio = 2.18 (Total Current Assets 2.57b / Total Current Liabilities 1.18b)
Debt / Equity = 0.97 (Debt 5.49b / totalStockholderEquity, last quarter 5.68b)
Debt / EBITDA = 1.21 (Net Debt 3.97b / EBITDA 3.29b)
Debt / FCF = 3.46 (Net Debt 3.97b / FCF TTM 1.15b)
Total Stockholder Equity = 12.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.80% (Net Income 2.61b / Total Assets 12.4b)
RoE = 20.56% (Net Income TTM 2.61b / Total Stockholder Equity 12.7b)
RoCE = 18.18% (EBIT 3.21b / Capital Employed (Equity 12.7b + L.T.Debt 4.93b))
RoIC = 23.05% (NOPAT 2.30b / Invested Capital 9.97b)
WACC = 6.73% (E(16.7b)/V(22.2b) * Re(8.01%) + D(5.49b)/V(22.2b) * Rd(3.94%) * (1-Tc(0.28)))
Discount Rate = 8.01% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -49.44 | Cagr: -1.32%
[DCF] Terminal Value 73.10% ; FCFF base≈2.39b ; Y1≈2.09b ; Y5≈1.69b
[DCF] Fair Price = 37.76 (EV 27.2b - Net Debt 3.97b = Equity 23.2b / Shares 613.9m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 82.20 | EPS CAGR: 33.11% | SUE: -0.28 | # QB: 0
Revenue Correlation: -59.19 | Revenue CAGR: -14.98% | SUE: -0.63 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.30 | Chg30d=-3.66% | Revisions=+0% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.31 | Chg30d=-8.34% | Revisions=+0% | Analysts=5
EPS current Year (2026-12-31): EPS=1.04 | Chg30d=-12.02% | Revisions=+0% | GrowthEPS=-32.2% | GrowthRev=+17.1%
EPS next Year (2027-12-31): EPS=1.83 | Chg30d=-4.11% | Revisions=-33% | GrowthEPS=+75.8% | GrowthRev=+17.7%
[Analyst] Revisions Ratio: -33%