Projected Income Statement: argenx SE

Forecast Balance Sheet: argenx SE

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -2,105 -754 -2,942 -3,247 -2,920 -4,575 -6,629 -8,408
Change - 64.18% -290.19% -10.37% 10.07% -56.68% -44.9% -26.84%
Announcement Date 03/03/22 02/03/23 29/02/24 27/02/25 26/02/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: argenx SE

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 3.28 0.7884 40.53 65.64 94.68 47.64 63.62 67.29
Change - -75.96% 5,040.53% 61.95% 44.25% -49.68% 33.53% 5.76%
Free Cash Flow (FCF) 1 -552.7 -813.6 -429.4 -145.2 486.2 2,174 2,598 2,732
Change - -47.2% 47.22% 66.19% 434.96% 347.06% 19.53% 5.13%
Announcement Date 03/03/22 02/03/23 29/02/24 27/02/25 26/02/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: argenx SE

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) -63.84% -138.2% -24.79% -0.19% 25.49% 33.62% 35.29% 37.22%
EBIT Margin (%) -64.65% -161.78% -33.51% -0.96% 24.81% 32.41% 35.41% 38.32%
EBT Margin (%) -74.11% -163.79% -24% 3.78% 30.1% 34.93% 38.68% 41.29%
Net margin (%) -75.69% -159.36% -23.26% 36.99% 30.41% 29.9% 33.51% 34.44%
FCF margin (%) -113.66% -193.76% -36.67% -6.77% 13.51% 42.81% 42.05% 37.58%
FCF / Net Income (%) 150.17% 121.58% 157.66% -18.31% 44.42% 143.19% 125.47% 109.12%

Profitability

        
ROA -15.92% -23.71% -7.69% 2.02% 17.36% 17.6% 22.06% 18.08%
ROE -19.4% -26.54% -8.54% 2.26% 20.15% 21.59% 22.71% 20.55%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 0.67% 0.19% 3.46% 3.06% 2.63% 0.94% 1.03% 0.93%
CAPEX / EBITDA (%) -1.06% -0.14% -13.96% -1,654.98% 10.32% 2.79% 2.92% 2.49%
CAPEX / FCF (%) -0.59% -0.1% -9.44% -45.22% 19.47% 2.19% 2.45% 2.46%

Items per share

        
Cash flow per share 1 -10.76 - -6.802 -1.22 8.798 25.28 33.54 43.24
Change - - - 82.06% 821.07% 187.39% 32.66% 28.93%
Dividend per Share 1 - - - - - 0.4248 0.8495 0.8485
Change - - - - - - 100% -0.12%
Book Value Per Share 1 44.41 - 63.75 81.07 - 123.7 159.4 198.3
Change - - - 27.17% - - 28.87% 24.38%
EPS 1 -7.203 -12.31 -4.763 12.28 16.58 23.57 30.98 39.54
Change - -70.85% 61.3% 357.87% 35% 42.16% 31.44% 27.64%
Nbr of stocks (in thousands) 51,668 55,324 59,079 60,368 61,200 62,188 62,188 62,188
Announcement Date 03/03/22 02/03/23 29/02/24 27/02/25 26/02/26 - - -
1EUR
Estimates
2026 *2027 *
P/E ratio 29.2x 22.2x
PBR 5.55x 4.31x
EV / Sales 7.52x 5.84x
Yield 0.06% 0.12%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
687.20EUR
Average target price
845.01EUR
Spread / Average Target
+22.96%

Quarterly revenue - Rate of surprise