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argenx SE

ARGX NASDAQ Categories PDF
Healthcare · Biotechnology
Amsterdam, 1101EB, Netherlands IPO 2017 argenx.com Updated Jun 26, 9:51pm
Price
$887.18
Market Cap
$54.9B
Employees
1,599
Beta
-0.03
Avg Volume
342,785
CEO
Timothy Van Hauwermeiren
Business Description

argenx SE, a biotechnology company established in Amsterdam, the Netherlands, in 2008, is dedicated to developing innovative therapies primarily for autoimmune diseases. The company's operations span across key global markets, including the United States, Japan, Europe, the Middle East, Africa, and China. Its leading investigational therapy is efgartigimod, which is being developed to address a broad range of conditions. These include generalized myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary Sjögren's syndrome, post-COVID postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, ANCA-associated vasculitis, and antibody-mediated rejection. Also noted in connection with its lead product efforts is ENHANZE SC. The company's extensive development pipeline features several other promising candidates. Empasiprubart is in development for multifocal motor neuropathy, delayed graft function, and dermatomyositis. ARGX-119 is being investigated for congenital myasthenic syndrome and amyotrophic lateral sclerosis. Further pipeline assets include ARGX-213, which targets FcRn; ARGX-121 and ARGX-220, both designed to modulate the immune system; ARGX-109, which targets IL-6; and ARGX-118, developed for inflammatory indications. argenx is also advancing cusatuzumab, ARGX-112, ARGX-114, and ARGX-115. The company’s portfolio encompasses several proprietary products and brands, such as VYVGART, VYVGART HYTRULO, VYVDURA, ARGENX, ABDEG, NHANCE, SIMPLE ANTIBODY, and ARGENXMEDHUB. Strategic collaborations are integral to argenx's business model. It maintains partnerships with AbbVie S.À.R.L., Zai Lab Limited, and LEO Pharma A/S, alongside numerous collaboration and license agreements with entities including Genor Biopharma Co. Ltd, Université Catholique de Louvain, Sopartec S.A., NYU Langone Health, Leiden University Medical Center, AgomAb Therapeutics NV, Broteio Pharma B.V., VIB vzw, University of Texas, BioWa, Inc., and Shire International GmbH. A specific collaboration with Genmab A/S focuses on the discovery, development, and commercialization of novel therapeutic antibodies for immunology and oncology applications. Additionally, argenx has a strategic collaboration with IQVIA Holdings Inc. for the provision of safety systems and related services.

Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Last updated: Jun 21, 2026 7:37pm (5d ago)
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
41.97
Stock Price: $887.18
EPS (Diluted): 21.14
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
7.04
Stock Price: $887.18
Total Equity: $7.32B
Shares: 66,029,214
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
36.72
Market Cap: $54.90B
Total Debt: $47.16M
Cash: $3.49B
EBITDA: $1.31B
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$48.1B
Market Cap: $54.90B
Total Debt: $47.16M
Cash: $3.49B
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
89.1%
Gross Profit: $3.70B
Revenue: $4.15B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
25.4%
Operating Income: $1.05B
Revenue: $4.15B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
31.1%
Net Income: $1.29B
Revenue: $4.15B
ROE (Profit from shareholder equity)
CALC
Net Income / Total Equity
17.6%
Net Income: $1.29B
Total Equity: $7.32B
ROIC (Profit from all invested capital)
CALC
NOPAT / Invested Capital
27.5%
Operating Income: $1.05B
Tax Rate: -1.1%
Equity: $7.32B
Total Debt: $47.16M
Cash: $3.49B
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
5.23
Current Assets: $6.90B
Current Liabilities: $1.32B
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.01
Short-Term Debt: $10.83M
Long-Term Debt: $36.33M
Total Debt: $47.16M
Total Equity: $7.32B
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$62.90
Revenue: $4.15B
Shares: 66,029,214
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$110.91
Total Equity: $7.32B
Shares: 66,029,214
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$12.79
Operating CF: $850.49M
CapEx: -$6.18M
Shares: 66,029,214
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $887.18
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
Dividends Paid: N/A
Net Income: $1.29B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ARGX against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:37pm (5d ago)
Metric 2021 2022 2023 2024 2025
Revenue $497.3M $410.7M $1.2B $2.2B $4.2B
Cost of Revenue $580.5M $29.4M $117.8M $227.3M $450.7M
Gross Profit $497.3M $381.3M $1.1B $2.0B $3.7B
Operating Expenses $846.0M $1.1B $1.5B $2.0B $2.6B
Operating Income -$348.7M -$720.3M -$425.0M -$21.7M $1.1B
Net Income -$407.6M -$709.6M -$295.1M $833.0M $1.3B
EBITDA -$392.8M -$622.8M -$192.3M $105.2M $1.3B
EPS $-7.99 $-13.05 $-5.16 $13.92 $21.14
EPS (Diluted)
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:37pm (5d ago)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $1.3B $800.7M $2.0B $1.5B $3.5B
Total Current Assets $2.5B $2.8B $4.1B $4.9B $6.9B
Total Assets $2.9B $3.1B $4.5B $6.2B $8.7B
Current Liabilities $301.2M $302.3M $423.0M $669.9M $1.3B
Long-Term Debt $0 $0 $0 $0 $36.3M
Total Liabilities $316.1M $320.6M $445.0M $704.2M $1.4B
Total Equity $2.5B $2.8B $4.1B $5.5B $7.3B
Retained Earnings -$1.4B -$2.1B -$2.4B -$1.6B -$279.8M
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:37pm (5d ago)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow -$606.8M -$862.8M -$420.3M -$82.7M $850.5M
Capital Expenditure -$121.4M -$103.8M -$43.8M -$68.3M -$6.2M
Free Cash Flow -$728.2M -$966.6M -$464.1M -$151.0M $844.3M
Acquisitions (net) $0 -$2.0M -$13.0M -$7.0M $0
Debt Repayment
Dividends Paid
Stock Buybacks $0 $0 $0 $0 $0
Net Change in Cash $117.9M -$533.9M $1.2B -$548.9M $2.0B
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 9:51pm (11h ago)
Metric 2027 2028 2029 2030
Revenue $7.3B
$7.0B – $8.0B
$8.6B
$8.1B – $9.6B
$9.9B
$9.3B – $11.0B
$11.2B
$10.5B – $12.4B
EBITDA -$2.3B
-$2.5B – -$2.2B
-$2.7B
-$3.0B – -$2.6B
-$3.1B
-$3.5B – -$2.9B
-$3.5B
-$3.9B – -$3.3B
Net Income $2.3B
$1.9B – $2.8B
$3.0B
$2.8B – $3.4B
$3.5B
$3.3B – $4.0B
$4.0B
$3.7B – $4.5B
EPS
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:37pm (5d ago)
Metric 2022 2023 2024 2025
Revenue Growth -17.4% +198.6% +78.6% +89.6%
Gross Profit Growth -23.3% +190.7% +77.1% +88.6%
Operating Income Growth -106.6% +41.0% +94.9% +4,970.3%
Net Income Growth -74.1% +58.4% +382.3% +55.1%
EBITDA Growth -58.6% +69.1% +154.7% +1,146.3%
Narrative Economics
The story the market is telling about this stock — the intangible X-factor (founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ARGX — it's generated by the pipeline (market-narrative step).
Community AI Feedback
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My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30