Cash flow Genmab A/S

Equities

GMAB

DK0010272202

Biotechnology & Medical Research

Real-time Estimate Cboe Europe Other stock markets 13:31:33 12/02/2026 GMT			5-day change	1st Jan Change
1,905.50 ^DKK	+1.28%		-4.03%	-5.90%

02-04	Goldman Sachs Lowers Price Target for Genmab to 1,793 Danish Kroner (from 1,880), Reiterates Neutral - BN	FW
02-04	Fitch Highlights Genmab's Antibody Oncology Leadership in Final Rating	MT

3a853ed601e9725.Tk5vj3TfgsU5HItHjia7PmqXYgTgBM5sJbcSxoJoSpw.ChE4uEKr8_NjWtIY303JUSTODUevMrwpfcVxlq8AJsUMeSb9H-vvsloqxg

Published financial data: GENMAB A/S

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	10.11B	8.48B	14.6B	16.47B	21.53B
Total Revenues	10.11B	8.48B	14.6B	16.47B	21.53B
Cost of Goods Sold, Total	-	-	-	226M	985M
Gross Profit	10.11B	8.48B	14.6B	16.25B	20.54B
Selling General & Admin Expenses, Total	661M	1.28B	2.68B	3.3B	3.79B
R&D Expenses	3.12B	4.18B	5.52B	7.63B	9.67B
Other Operating Expenses, Total	3.78B	5.46B	8.2B	10.93B	13.46B
Operating Income	6.34B	3.02B	6.4B	5.32B	7.08B
Interest Expense, Total	-10M	-13M	-21M	-27M	-120M
Interest And Investment Income	184M	197M	324M	939M	995M
Net Interest Expenses	174M	184M	303M	912M	875M
Currency Exchange Gains (Loss)	-1.46B	1.47B	1.03B	-889M	1.34B
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	5.05B	4.67B	7.73B	5.34B	9.29B
Merger & Related Restructuring Charges	-	-	-	-	-300M
Gain (Loss) On Sale Of Investments	873M	-689M	-659M	293M	247M
Asset Writedown	-22M	-	-38M	-	-76M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	5.9B	3.98B	7.04B	5.64B	9.16B
Income Tax Expense	1.15B	975M	1.51B	1.28B	1.32B
Earnings From Continuing Operations	4.76B	3.01B	5.52B	4.35B	7.84B
Net Income to Company	4.76B	3.01B	5.52B	4.35B	7.84B
Net Income - (IS)	4.76B	3.01B	5.52B	4.35B	7.84B
Net Income to Common Incl Extra Items	4.76B	3.01B	5.52B	4.35B	7.84B
Net Income to Common Excl. Extra Items	4.76B	3.01B	5.52B	4.35B	7.84B
Per Share Items
Net EPS - Basic	73	46	84.45	66.64	122.21
Basic EPS - Continuing Operations	73	46	84.45	66.64	122.21
Basic Weighted Average Shares Outstanding	65.18M	65.4M	65.39M	65.31M	64.19M
Net EPS - Diluted	72.21	45.54	83.65	66.02	121.36
Diluted EPS - Continuing Operations	72.21	45.54	83.65	66.02	121.36
Diluted Weighted Average Shares Outstanding	65.89M	66.05M	66.01M	65.91M	64.63M
Normalized Basic EPS	48.45	44.65	73.91	51.14	90.49
Normalized Diluted EPS	47.93	44.21	73.21	50.67	89.86
American Depositary Receipts Ratio (ADR)	0.1	0.1	0.1	0.1	0.1
Supplemental Items
EBITDA	6.56B	3.27B	6.72B	5.56B	7.39B
EBITA	6.44B	3.1B	6.46B	5.38B	7.16B
EBIT	6.34B	3.02B	6.4B	5.32B	7.08B
EBITDAR	6.57B	3.27B	-	-	-
Effective Tax Rate - (Ratio)	19.41	24.48	21.51	22.8	14.4
Current Domestic Taxes	1.19B	968M	1.5B	-	-
Total Current Taxes	1.19B	968M	1.5B	1.3B	1.8B
Deferred Domestic Taxes	-45M	7M	15M	-	-
Total Deferred Taxes	-45M	7M	15M	-16M	-479M
Normalized Net Income	3.16B	2.92B	4.83B	3.34B	5.81B
Interest on Long-Term Debt	10M	13M	21M	27M	120M
Supplemental Operating Expense Items
General and Administrative Expenses	661M	-	-	-	-
Research And Development Expense From Footnotes	3.14B	4.18B	5.56B	7.63B	9.75B
Net Rental Expense, Total	3M	1M	-	-	-
Imputed Operating Lease Interest Expense	960K	280K	-	-	-
Imputed Operating Lease Depreciation	2.04M	720K	-	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	200M	310M	439M	586M	721M
Total Stock-Based Compensation	200M	310M	439M	586M	721M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	7.26B	8.96B	9.89B	14.87B	9.86B
Short Term Investments	8.82B	10.38B	12.43B	13.27B	11.24B
Total Cash And Short Term Investments	16.08B	19.34B	22.32B	28.14B	21.1B
Accounts Receivable, Total	2.46B	3.37B	5.91B	4.95B	6.59B
Other Receivables	249M	31M	143M	-	101M
Total Receivables	2.71B	3.4B	6.05B	4.95B	6.69B
Inventory	-	-	-	57M	62M
Total Current Assets	18.79B	22.74B	28.38B	33.14B	27.85B
Gross Property Plant And Equipment	1B	1.34B	1.82B	2.32B	2.73B
Accumulated Depreciation	-264M	-368M	-495M	-676M	-837M
Net Property Plant And Equipment	736M	975M	1.32B	1.64B	1.89B
Long-term Investments	1.08B	371M	133M	134M	228M
Goodwill	-	-	-	-	2.54B
Other Intangibles, Total	338M	254M	146M	101M	12.34B
Accounts Receivable Long-Term	20M	27M	48M	62M	52M
Deferred Tax Assets Long-Term	177M	264M	252M	212M	908M
Total Assets	21.14B	24.63B	30.28B	35.29B	45.81B
Liabilities
Accounts Payable, Total	-	350M	-	-	-
Accrued Expenses, Total	-	296M	-	-	-
Current Portion of Leases	42M	62M	74M	90M	92M
Current Income Taxes Payable	-	-	-	54M	1.71B
Unearned Revenue Current, Total	26M	26M	33M	33M	24M
Other Current Liabilities	1.18B	834M	1.72B	2.31B	3.48B
Total Current Liabilities	1.25B	1.57B	1.82B	2.48B	5.31B
Long-Term Leases	277M	363M	523M	680M	937M
Unearned Revenue Non Current	487M	487M	480M	480M	480M
Deferred Tax Liability Non Current	-	-	-	-	2.36B
Other Non Current Liabilities	5M	13M	11M	35M	30M
Total Liabilities	2.02B	2.43B	2.84B	3.68B	9.11B
Common Stock, Total	66M	66M	66M	66M	66M
Additional Paid In Capital	11.89B	12.03B	12.31B	12.46B	12.59B
Retained Earnings	7.11B	10.02B	14.97B	19.02B	23.55B
Comprehensive Income and Other	54M	81M	98M	60M	490M
Total Common Equity	19.12B	22.2B	27.44B	31.61B	36.7B
Total Equity	19.12B	22.2B	27.44B	31.61B	36.7B
Total Liabilities And Equity	21.14B	24.63B	30.28B	35.29B	45.81B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	65.41M	65.43M	65.37M	65.33M	63.54M
ECS Total Common Shares Outstanding	65.41M	65.43M	65.37M	65.33M	63.54M
Book Value / Share	292.31	339.23	419.77	483.85	577.54
Tangible Book Value	18.78B	21.94B	27.3B	31.51B	21.82B
Tangible Book Value Per Share	287.14	335.35	417.54	482.3	343.39
Total Debt	319M	425M	597M	770M	1.03B
Net Debt	-15.76B	-18.91B	-21.73B	-27.36B	-20.07B
Debt Equivalent Oper. Leases	24M	8M	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	-	-	-	14M	4M
Inventories - Finished Goods, Total	-	-	-	59M	79M
Machinery, Total	416M	537M	649M	908M	991M
Full Time Employees	781	1.21K	1.66K	2.2K	2.68K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	4.76B	3.01B	5.52B	4.35B	7.84B
Depreciation & Amortization - CF	157M	220M	328M	185M	335M
Amortization of Goodwill and Intangible Assets - (CF)	109M	84M	70M	55M	78M
Depreciation & Amortization, Total	266M	304M	398M	240M	413M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-873M	689M	659M	-293M	-247M
Asset Writedown & Restructuring Costs	29M	-	38M	-	115M
Stock-Based Compensation (CF)	200M	310M	439M	586M	721M
Other Operating Activities, Total	1.07B	-1.31B	-1.21B	1.13B	-337M
Change In Accounts Receivable	306M	-1.07B	-2.21B	797M	-1.59B
Change In Inventories	-	-	-	-57M	-5M
Change In Accounts Payable	168M	304M	283M	622M	857M
Change in Unearned Revenues	513M	-	-	-	-
Change in Other Net Operating Assets	-	-	-	-	-
Cash from Operations	6.43B	2.23B	3.91B	7.38B	7.77B
Capital Expenditure	-307M	-252M	-317M	-366M	-187M
Cash Acquisitions	-	-	-	-	-12.25B
Sale (Purchase) of Intangible assets	-	-	-	-10M	-117M
Investment in Marketable and Equity Securities, Total	-2.04B	-709M	-2.44B	-906M	2.64B
Cash from Investing	-2.35B	-961M	-2.76B	-1.28B	-9.91B
Long-Term Debt Repaid, Total	-44M	-58M	-73M	-91M	-60M
Total Debt Repaid	-44M	-58M	-73M	-91M	-60M
Issuance of Common Stock	140M	135M	280M	152M	129M
Repurchase of Common Stock	-25M	-497M	-996M	-667M	-3.99B
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	71M	-420M	-789M	-606M	-3.92B
Foreign Exchange Rate Adjustments	-445M	850M	574M	-518M	1.05B
Net Change in Cash	3.71B	1.7B	936M	4.97B	-5.01B
Supplemental Items
Cash Interest Paid	20M	12M	16M	25M	35M
Cash Income Tax Paid (Refund)	1.48B	742M	1.58B	1.07B	343M
Levered Free Cash Flow	4.69B	1.85B	2.09B	5.29B	6.25B
Unlevered Free Cash Flow	4.7B	1.86B	2.1B	5.31B	6.33B
Change In Net Working Capital	-577M	391M	2.41B	-1.54B	-1.07B
Net Debt Issued / Repaid	-44M	-58M	-73M	-91M	-60M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	21.82	8.24	14.56	10.17	10.91
Return on Total Capital	23.52	8.97	15.78	11.04	12.62
Return On Equity %	28.69	14.56	22.25	14.78	22.97
Return on Common Equity	28.69	14.56	22.25	14.78	22.97
Margin Analysis
Gross Profit Margin %	100	100	100	98.63	95.42
SG&A Margin	6.54	15.13	18.34	20.01	17.61
EBITDA Margin %	64.93	38.5	46.04	33.76	34.33
EBITA Margin %	63.73	36.57	44.3	32.63	33.25
EBIT Margin %	62.65	35.58	43.82	32.3	32.89
Income From Continuing Operations Margin %	47.06	35.46	37.83	26.42	36.44
Net Income Margin %	47.06	35.46	37.83	26.42	36.44
Net Avail. For Common Margin %	47.06	35.46	37.83	26.42	36.44
Normalized Net Income Margin	31.23	34.43	33.11	20.27	26.98
Levered Free Cash Flow Margin	46.38	21.8	14.33	32.13	29.05
Unlevered Free Cash Flow Margin	46.44	21.9	14.42	32.24	29.39
Asset Turnover
Asset Turnover	0.56	0.37	0.53	0.5	0.53
Fixed Assets Turnover	17.58	9.91	12.71	11.12	12.19
Receivables Turnover (Average Receivables)	3.71	2.91	3.15	3.09	3.73
Inventory Turnover (Average Inventory)	-	-	-	-	16.55
Short Term Liquidity
Current Ratio	15	14.5	15.57	13.34	5.25
Quick Ratio	15	14.5	15.57	13.32	5.24
Operating Cash Flow to Current Liabilities	5.13	1.42	2.15	2.97	1.46
Days Sales Outstanding (Average Receivables)	98.69	125.44	116	118.08	98.08
Days Outstanding Inventory (Average Inventory)	-	-	-	-	22.11
Long Term Solvency
Total Debt/Equity	1.67	1.91	2.18	2.44	2.8
Total Debt / Total Capital	1.64	1.88	2.13	2.38	2.73
LT Debt/Equity	1.45	1.64	1.91	2.15	2.55
Long-Term Debt / Total Capital	1.42	1.6	1.87	2.1	2.48
Total Liabilities / Total Assets	9.56	9.87	9.37	10.43	19.89
EBIT / Interest Expense	633.5	232.15	304.52	197.07	58.99
EBITDA / Interest Expense	660.1	255.54	323.48	205.96	62.43
(EBITDA - Capex) / Interest Expense	629.4	236.15	308.38	192.41	60.88
Total Debt / EBITDA	0.05	0.13	0.09	0.14	0.14
Net Debt / EBITDA	-2.39	-5.69	-3.2	-4.92	-2.68
Total Debt / (EBITDA - Capex)	0.05	0.14	0.09	0.15	0.14
Net Debt / (EBITDA - Capex)	-2.5	-6.16	-3.36	-5.27	-2.75
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	88.43	-16.11	72.07	13.57	30.67
Gross Profit, 1 Yr. Growth %	88.43	-16.11	72.07	12.02	26.42
EBITDA, 1 Yr. Growth %	136.41	-50.25	105.73	-14.72	33.66
EBITA, 1 Yr. Growth %	135.44	-51.86	108.41	-15.67	33.93
EBIT, 1 Yr. Growth %	140.14	-52.36	111.9	-15.61	33.04
Earnings From Cont. Operations, 1 Yr. Growth %	119.67	-36.78	83.58	-20.18	80.24
Net Income, 1 Yr. Growth %	119.67	-36.78	83.58	-20.18	80.24
Normalized Net Income, 1 Yr. Growth %	77.3	-7.54	65.5	-30.07	73.9
Diluted EPS Before Extra, 1 Yr. Growth %	112.2	-36.93	83.68	-20.06	83.82
Accounts Receivable, 1 Yr. Growth %	-17.63	36.7	75.53	-13.39	33.21
Inventory, 1 Yr. Growth %	-	-	-	-	8.77
Net Property, Plant and Equip., 1 Yr. Growth %	77.78	32.47	35.59	24.13	15.23
Total Assets, 1 Yr. Growth %	39.61	16.48	22.95	17.17	29.82
Tangible Book Value, 1 Yr. Growth %	38.33	16.82	24.4	16.12	-30.75
Common Equity, 1 Yr. Growth %	36.11	16.08	23.63	15.86	16.09
Cash From Operations, 1 Yr. Growth %	385.14	-65.37	75.58	88.65	5.3
Capital Expenditures, 1 Yr. Growth %	288.61	-17.92	25.79	15.46	-48.91
Levered Free Cash Flow, 1 Yr. Growth %	618.78	-60.57	13.12	163.04	17.48
Unlevered Free Cash Flow, 1 Yr. Growth %	614.94	-60.45	13.33	162.17	17.92
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	82.82	25.73	20.14	39.9	21.82
Gross Profit, 2 Yr. CAGR %	82.82	25.73	20.14	38.94	19
EBITDA, 2 Yr. CAGR %	111.47	8.45	1.34	32.93	6.18
EBITA, 2 Yr. CAGR %	111.54	6.46	0.33	33.05	5.69
EBIT, 2 Yr. CAGR %	114.26	6.96	0.65	34.23	6.28
Earnings From Cont. Operations, 2 Yr. CAGR %	79.79	17.84	7.73	21.32	19.95
Net Income, 2 Yr. CAGR %	79.79	17.84	7.73	21.32	19.95
Normalized Net Income, 2 Yr. CAGR %	76.45	28.04	23.97	7.7	10.56
Diluted EPS Before Extra, 2 Yr. CAGR %	74.44	15.68	7.63	21.44	21.22
Accounts Receivable, 2 Yr. CAGR %	36.24	6.12	54.9	21.21	7.41
Net Property, Plant and Equip., 2 Yr. CAGR %	113.15	53.46	34.02	29.73	19.6
Total Assets, 2 Yr. CAGR %	58.08	27.52	19.67	19.71	23.33
Tangible Book Value, 2 Yr. CAGR %	57.79	27.12	20.55	19.83	-10.33
Common Equity, 2 Yr. CAGR %	54.47	25.7	19.8	19.34	15.98
Cash From Operations, 2 Yr. CAGR %	151.75	29.62	-22.02	82	40.94
Capital Expenditures, 2 Yr. CAGR %	106.49	78.6	1.62	20.51	-23.19
Levered Free Cash Flow, 2 Yr. CAGR %	2.07K	68.36	-33.11	76.54	71.59
Unlevered Free Cash Flow, 2 Yr. CAGR %	2.07K	68.16	-32.95	76.4	71.64
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	62.29	41.01	39.59	17.67	36.75
Gross Profit, 3 Yr. CAGR %	62.29	41.01	39.59	17.13	34.63
EBITDA, 3 Yr. CAGR %	66.83	30.55	34.25	-5.28	32.92
EBITA, 3 Yr. CAGR %	66.28	29.15	33.18	-5.75	33.07
EBIT, 3 Yr. CAGR %	66.75	29.8	34.33	-5.54	33.83
Earnings From Cont. Operations, 3 Yr. CAGR %	62.76	26.9	36.61	-2.93	38.43
Net Income, 3 Yr. CAGR %	62.76	26.9	36.61	-2.93	38.43
Normalized Net Income, 3 Yr. CAGR %	65.95	42.25	39.47	2.03	26.35
Diluted EPS Before Extra, 3 Yr. CAGR %	59.58	24.27	34.96	-2.94	39.43
Accounts Receivable, 3 Yr. CAGR %	62.03	36.39	25.5	26.17	25.09
Net Property, Plant and Equip., 3 Yr. CAGR %	86.52	81.9	47.26	30.64	24.71
Total Assets, 3 Yr. CAGR %	47.39	42.78	25.98	18.62	22.99
Tangible Book Value, 3 Yr. CAGR %	45.1	42.74	26.21	18.82	-0.19
Common Equity, 3 Yr. CAGR %	45	40.43	25.01	18.24	18.25
Cash From Operations, 3 Yr. CAGR %	59.38	29.96	43.42	4.68	51.65
Capital Expenditures, 3 Yr. CAGR %	51.37	51.83	58.91	6.03	-9.47
Levered Free Cash Flow, 3 Yr. CAGR %	60.14	471.03	47.46	4.23	54.4
Unlevered Free Cash Flow, 3 Yr. CAGR %	60.13	471.86	47.44	4.29	54.77
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	54.92	36.1	43.9	40.35	32.03
Gross Profit, 5 Yr. CAGR %	54.92	36.1	43.9	39.96	30.8
EBITDA, 5 Yr. CAGR %	62.13	24.46	36.58	30.52	21.62
EBITA, 5 Yr. CAGR %	62.04	23.4	35.76	30.14	21.2
EBIT, 5 Yr. CAGR %	62.79	23.44	36.16	30.99	21.83
Earnings From Cont. Operations, 5 Yr. CAGR %	44.19	20.44	37.99	24.21	29.35
Net Income, 5 Yr. CAGR %	44.19	20.44	37.99	24.21	29.35
Normalized Net Income, 5 Yr. CAGR %	52.59	32.61	47.55	26.91	26.67
Diluted EPS Before Extra, 5 Yr. CAGR %	41.88	18.83	36.32	22.71	28.96
Accounts Receivable, 5 Yr. CAGR %	69.77	28.11	59.14	30.11	17.12
Net Property, Plant and Equip., 5 Yr. CAGR %	91.19	97.81	63.42	58.9	35.5
Total Assets, 5 Yr. CAGR %	40.21	36.28	35.61	33.06	24.78
Tangible Book Value, 5 Yr. CAGR %	41.65	36.41	34.73	33.1	9.95
Common Equity, 5 Yr. CAGR %	40.55	35.68	34.34	31.58	21.17
Cash From Operations, 5 Yr. CAGR %	83.23	46.72	19.74	48.7	42.43
Capital Expenditures, 5 Yr. CAGR %	100.63	83.07	29.07	38.43	18.81
Levered Free Cash Flow, 5 Yr. CAGR %	172.87	85.22	12.87	251.04	57.15
Unlevered Free Cash Flow, 5 Yr. CAGR %	173.08	85.44	12.98	251.26	57.31