Financials argenx SE

Equities

ARGX

NL0010832176

Biotechnology & Medical Research

Market Closed - Euronext Bruxelles 16:35:00 26/04/2024 BST 5-day change 1st Jan Change
349.3 EUR +0.90% Intraday chart for argenx SE +3.56% +1.69%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,141 11,400 16,291 19,269 20,293 20,744 - -
Enterprise Value (EV) 1 4,811 9,781 14,186 18,515 20,293 18,437 18,272 17,789
P/E ratio -34 x -20.8 x -43.8 x -28.3 x -72.1 x -141 x 105 x 35.7 x
Yield - - - - - - - -
Capitalization / Revenue 74.4 x 209 x 33.5 x 45.9 x 17.3 x 12.3 x 9.05 x 6.89 x
EV / Revenue 58.3 x 179 x 29.2 x 44.1 x 17.3 x 11 x 7.97 x 5.91 x
EV / EBITDA -27.3 x -23.6 x -45.7 x -31.9 x - -95.8 x 90.6 x 24.9 x
EV / FCF 36.2 x -28.2 x -25.7 x -22.8 x - -270 x 95.2 x 47.7 x
FCF Yield 2.76% -3.55% -3.9% -4.39% - -0.37% 1.05% 2.1%
Price to Book 5.84 x 8.44 x 7.1 x - - 5.43 x 5.01 x 4.35 x
Nbr of stocks (in thousands) 42,762 47,108 51,668 55,324 59,079 59,387 - -
Reference price 2 143.6 242.0 315.3 348.3 343.5 349.3 349.3 349.3
Announcement Date 27/02/20 04/03/21 03/03/22 02/03/23 29/02/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 82.58 54.53 486.3 419.9 1,171 1,682 2,291 3,010
EBITDA 1 -176.4 -414.3 -310.4 -580.3 - -192.5 201.6 713.2
EBIT 1 -178.6 -417.8 -314.4 -679.3 -392.3 -195.7 139.2 709.5
Operating Margin -216.21% -766.07% -64.65% -161.78% -33.51% -11.64% 6.07% 23.57%
Earnings before Tax (EBT) 1 -158.2 -526.3 -360.4 -687.7 -281 -109 225.7 851.7
Net income 1 -163 -528.9 -368.1 -669.1 -272.3 -136.8 219 732.7
Net margin -197.33% -969.9% -75.69% -159.36% -23.26% -8.13% 9.56% 24.34%
EPS 2 -4.220 -11.65 -7.203 -12.31 -4.763 -2.476 3.328 9.787
Free Cash Flow 1 133 -347.3 -552.7 -813.6 - -68.32 191.9 372.7
FCF margin 161.02% -636.85% -113.66% -193.76% - -4.06% 8.38% 12.38%
FCF Conversion (EBITDA) - - - - - - 95.17% 52.26%
FCF Conversion (Net income) - - - - - - 87.63% 50.87%
Dividend per Share 2 - - - - - - - -
Announcement Date 27/02/20 04/03/21 03/03/22 02/03/23 29/02/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2021 Q3 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 S1 2025 S2
Net sales 1 31.28 6.131 40.42 - 29.8 84.08 145.5 171.7 309.9 207.8 253.8 461.4 320.3 385.7 699.3 374.1 399.6 - 435.9 476.7 - 503.7 - -
EBITDA 1 - -182.1 -197.7 - -211.5 -170.3 -208 - - - - - - - - -70.62 -72.62 - -79.62 -53.09 - - - -
EBIT 1 -94.09 -183.8 -208.2 - -210.9 -172.3 -207.2 -107.9 -304.7 -93.84 -92.2 -185.9 -75.95 -127.9 -202.3 -56.56 -56.59 - -41.69 -29.66 - 19.39 - -
Operating Margin -300.74% -2,997.28% -515.01% - -707.52% -204.9% -142.43% -62.83% -98.32% -45.15% -36.33% -40.29% -23.71% -33.18% -28.93% -15.12% -14.16% - -9.57% -6.22% - 3.85% - -
Earnings before Tax (EBT) 1 -113.4 -199.2 -220.8 - -217.8 -214.2 -239.4 -38.89 -266.2 -68.9 -75.73 -144.5 -78.49 -56.47 -133.3 -37.25 -35.22 - -17.86 -6.04 - 33.12 - -
Net income 1 -117.8 -201.6 -214.4 -425 -215.1 -206 -233.5 -36.41 -258.1 -26.11 -85.22 -111.3 -68.47 -91.54 -158.6 -38.17 -37.96 - -21.9 -12.01 - 38.31 - -
Net margin -376.68% -3,288.02% -530.42% - -721.69% -245.06% -160.45% -21.2% -83.28% -12.57% -33.58% -24.12% -21.38% -23.73% -22.68% -10.2% -9.5% - -5.02% -2.52% - 7.61% - -
EPS 2 - -3.797 -4.291 - - -3.760 -4.231 -0.6601 - -0.4703 -1.526 - -1.178 -1.551 - -0.5995 -1.497 - -1.690 -1.090 - - - -
Dividend per Share 2 - - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 27/02/20 28/10/21 03/03/22 03/03/22 05/05/22 28/07/22 27/10/22 02/03/23 02/03/23 04/05/23 27/07/23 27/07/23 31/10/23 29/02/24 29/02/24 - - - - - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 1,329 1,619 2,105 754 - 2,306 2,472 2,955
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 133 -347 -553 -814 - -68.3 192 373
ROE (net income / shareholders' equity) -20.5% -43.8% -19.4% -26.5% - -4.84% 3.83% 13.5%
ROA (Net income/ Total Assets) -16.2% -32.1% -15.9% -23.7% - -3.08% 4.47% 12.2%
Assets 1 1,006 1,646 2,312 2,822 - 4,439 4,900 6,003
Book Value Per Share 2 24.60 28.70 44.40 - - 64.30 69.70 80.30
Cash Flow per Share 2 - - -10.80 - - 1.030 3.840 11.60
Capex 1 1.6 0.95 3.28 0.79 - 6.97 9 14.3
Capex / Sales 1.94% 1.74% 0.67% 0.19% - 0.41% 0.39% 0.47%
Announcement Date 27/02/20 04/03/21 03/03/22 02/03/23 29/02/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
349.3 EUR
Average target price
439.3 EUR
Spread / Average Target
+25.77%
Consensus