GMAB Stock Analysis: Genmab AS | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 15.926m USD | 12M Return: 26.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 39.7M
EPS Trend: 82.2%
Qual. Beats: 0
Rev. Trend: -80.3%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality
Genmab A/S is a Danish biotechnology company founded in 1998 and headquartered in Copenhagen, specializing in the development of antibody-based therapeutics primarily for cancer and other serious diseases. The company markets EPKINLY/TEPKINLY (epcoritamab) for relapsed/refractory B-cell lymphomas and Tivdak for recurrent/metastatic cervical cancer, while generating additional revenue through commercialized products developed with partners, including DARZALEX (multiple myeloma), RYBREVANT (lung cancer), TECVAYLI and TALVEY (multiple myeloma), Kesimpta (multiple sclerosis), and TEPEZZA (thyroid eye disease).
Genmab maintains a broad pipeline spanning hematologic malignancies, solid tumors, and rare diseases, with notable candidates including Rinatabart Sesutecan (ovarian cancer), Acasunlimab (NSCLC), tisotumab vedotin (solid tumors), and earlier-stage assets such as GEN1059, GEN1055, GEN1057, and GEN1286. The companys business model is heavily collaboration-driven, with active partnerships across the biopharma industry including AbbVie, Pfizer, BioNTech, Johnson & Johnson, Bristol Myers Squibb, Amgen, and Novo Nordisk.
As a large-cap biotech, Genmab operates in the antibody therapeutics segment of healthcare, an area characterized by high R&D investment, long development timelines, and reliance on licensing agreements and milestone/royalty income to supplement direct product sales. Its dual model of independent commercialization and partnered development allows it to share development risk while retaining upside from successful candidates.
- DARZALEX royalties expand as multiple myeloma use grows
- Epcoritamab label expansion into frontline B-cell lymphomas
- Pipeline readouts for acasunlimab in NSCLC drive upside
| 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 29, 2026, the stock is trading at USD 26.12 with a total of 1,777,901 shares traded. Over the past week, the price has changed by +3.36%, over one month by -3.40%, over three months by +1.12% and over the past year by +26.43%.
Current recommended Stop Loss: 24.80 (which is 5.1% or 1.9 ATR below the current price).
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 | 41% |
P/E Trailing = 19.6515
P/E Forward = 15.361
P/S = 4.0824
P/B = 2.8028
P/EG = 1.7318
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 = 19.9b USD (15.9b + Debt 5.49b - CCE 1.52b)
Interest Coverage Ratio = 7.65 (Ebit TTM 1.29b / Interest Expense TTM 168.3m)
EV/FCF = 22.84x (Enterprise Value 19.9b / FCF TTM 871.3m)
FCF Yield = 4.38% (FCF TTM 871.3m / Enterprise Value 19.9b)
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 = 1.61 (Enterprise Value 19.9b / 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 = 6.49% (E(15.9b)/V(21.4b) * Re(7.89%) + D(5.49b)/V(21.4b) * 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=+0.00% | Revisions=+0% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.31 | Chg30d=+0.00% | Revisions=+0% | Analysts=5
EPS current Year (2026-12-31): EPS=1.04 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=-32.2% | GrowthRev=+17.8%
EPS next Year (2027-12-31): EPS=1.83 | Chg30d=-3.94% | Revisions=-33% | GrowthEPS=+75.8% | GrowthRev=+17.1%
[Analyst] Revisions Ratio: -33%