(GMAB) Genmab AS - NASDAQ
Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 15.397m USD | Total Return: 9.7% in 12m
Avg Turnover: 34.5M
EPS Trend: 82.2%
Qual. Beats: 0
Rev. Trend: -80.3%
Qual. Beats: 0
Warnings
Beneish M-Score -1.16 > -1.5 - likely earnings manipulation
Below Avwap Earnings
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: 821.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -38.68 > 1.0 |
| NWC/Revenue: 35.76% < 20% (prev 23.79%; Δ 11.97% < -1%) |
| CFO/TA 0.07 > 3% & CFO 901.3m > Net Income 821.0m |
| Net Debt (3.97b) to EBITDA (1.37b): 2.90 < 3 |
| Current Ratio: 2.18 > 1.5 & < 3 |
| Outstanding Shares: last quarter (638.6m) vs 12m ago -0.12% < -2% |
| Gross Margin: 93.31% > 18% (prev 94.99%; Δ -1.68% > 0.5%) |
| Asset Turnover: 42.39% > 50% (prev 213.4%; Δ -171.0% > 0%) |
| Interest Coverage Ratio: 7.65 > 6 (EBIT TTM 1.29b / Interest Expense TTM 168.3m) |
| 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: 0.14 (EBIT TTM 1.29b / Avg Total Assets 9.20b) |
| D: 0.85 (Book Value of Equity 5.68b / Total Liabilities 6.69b) |
| Altman-Z'' = 3.65 = AA |
| DSRI: 3.0 (Receivables 1.03b/930.8m, Revenue 3.90b/12.9b) |
| GMI: 1.02 (GM 94.99% / 93.31%) |
| AQI: 2.19 (AQ_t 0.77 / AQ_t-1 0.35) |
| SGI: 0.30 (Revenue 3.90b / 12.9b) |
| TATA: -0.01 (NI 821.0m - CFO 901.3m) / TA 12.4b) |
| Beneish M = -1.16 (Cap -4..+1) = D |
As of June 15, 2026, the stock is trading at USD 25.08 with a total of 1,113,518 shares traded.
Over the past week, the price has changed by -0.28%,
over one month by -6.77%,
over three months by -5.57% and
over the past year by +9.71%.
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 | 36.8 | 46.8% |
P/E Trailing = 19.145
P/E Forward = 14.8148
P/S = 3.9471
P/B = 2.7104
P/EG = 1.6694
Revenue TTM = 3.90b USD
EBIT TTM = 1.29b USD
EBITDA TTM = 1.37b USD
Long Term Debt = 4.93b USD (from longTermDebt, last quarter)
Short Term Debt = 311.0m 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 = 19.4b USD (15.4b + Debt 5.49b - CCE 1.52b)
Interest Coverage Ratio = 7.65 (Ebit TTM 1.29b / Interest Expense TTM 168.3m)
EV/FCF = 22.23x (Enterprise Value 19.4b / FCF TTM 871.3m)
FCF Yield = 4.50% (FCF TTM 871.3m / Enterprise Value 19.4b)
FCF Margin = 22.34% (FCF TTM 871.3m / Revenue TTM 3.90b)
Net Margin = 21.05% (Net Income TTM 821.0m / Revenue TTM 3.90b)
Gross Margin = 93.31% ((Revenue TTM 3.90b - Cost of Revenue TTM 261.0m) / Revenue TTM)
Gross Margin QoQ = 92.75% (prev 92.34%)
Tobins Q-Ratio = 1.57 (Enterprise Value 19.4b / Total Assets 12.4b)
Interest Expense / Debt = 3.06% (Interest Expense 168.3m / Debt 5.49b)
Taxrate = 20.60% (213.0m / 1.03b)
NOPAT = 1.02b (EBIT 1.29b * (1 - 20.60%))
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 = 2.90 (Net Debt 3.97b / EBITDA 1.37b)
Debt / FCF = 4.56 (Net Debt 3.97b / FCF TTM 871.3m)
Total Stockholder Equity = 5.64b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.92% (Net Income 821.0m / Total Assets 12.4b)
RoE = 14.55% (Net Income TTM 821.0m / Total Stockholder Equity 5.64b)
RoCE = 12.17% (EBIT 1.29b / Capital Employed (Equity 5.64b + L.T.Debt 4.93b))
RoIC = 9.03% (NOPAT 1.02b / Invested Capital 11.3b)
WACC = 6.45% (E(15.4b)/V(20.9b) * Re(7.89%) + D(5.49b)/V(20.9b) * Rd(3.06%) * (1-Tc(0.21)))
Discount Rate = 7.89% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -49.44 | Cagr: -1.32%
[DCF] Terminal Value 73.10% ; FCFF base≈1.63b ; Y1≈1.43b ; Y5≈1.15b
[DCF] Fair Price = 23.64 (EV 18.5b - Net Debt 3.97b = Equity 14.5b / 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: -80.34 | Revenue CAGR: -38.92% | SUE: -0.64 | # 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=+17.6%
EPS next Year (2027-12-31): EPS=1.83 | Chg30d=-4.11% | Revisions=-33% | GrowthEPS=+75.8% | GrowthRev=+17.2%
[Analyst] Revisions Ratio: -33%