Projected Income Statement: Genmab A/S

Forecast Balance Sheet: Genmab A/S

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 -16,079 -19,338 -22,324 -28,135 -21,101 -23,009 -31,552 -41,064
Change - -20.27% -15.44% -26.03% 25% -9.04% -37.13% -30.15%
Announcement Date 23/02/21 16/02/22 22/02/23 14/02/24 12/02/25 - - -
1DKK in Million
Estimates

Cash Flow Forecast: Genmab A/S

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
CAPEX 1 307 252 317 366 187 329.2 451.6 484.2
Change - -17.92% 25.79% 15.46% -48.91% 76.05% 37.18% 7.22%
Free Cash Flow (FCF) 1 6,126 1,976 3,595 7,014 7,584 6,990 8,403 10,262
Change - -67.74% 81.93% 95.1% 8.13% -7.83% 20.22% 22.12%
Announcement Date 23/02/21 16/02/22 22/02/23 14/02/24 12/02/25 - - -
1DKK in Million
Estimates

Forecast Financial Ratios: Genmab A/S

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027

Profitability

        
EBITDA Margin (%) 65% 38.51% 46.04% 34.09% 33.06% 37.28% 36.92% 40.45%
EBIT Margin (%) 62.44% 35.58% 43.56% 32.3% 32.53% 35.34% 32.23% 35.26%
EBT Margin (%) 58.39% 46.96% 48.2% 34.22% 42.57% 39.34% 32.25% 35.48%
Net margin (%) 47.06% 35.46% 37.83% 26.42% 36.44% 31.34% 24.29% 29%
FCF margin (%) 60.59% 23.3% 24.63% 42.58% 35.23% 29.29% 30.54% 32.27%
FCF / Net Income (%) 128.75% 65.69% 65.1% 161.17% 96.69% 93.45% 125.72% 111.26%

Profitability

        
ROA 26.22% 13.14% 20.11% 13.31% 19.34% 11.68% 8.92% 9.18%
ROE 28.69% 14.56% 22.25% 14.78% 22.97% 21.33% 16.69% 17.44%

Financial Health

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

Capital Intensity

        
CAPEX / Current Assets (%) 3.04% 2.97% 2.17% 2.22% 0.87% 1.38% 1.64% 1.52%
CAPEX / EBITDA (%) 4.67% 7.72% 4.72% 6.52% 2.63% 3.7% 4.45% 3.76%
CAPEX / FCF (%) 5.01% 12.75% 8.82% 5.22% 2.47% 4.71% 5.37% 4.72%

Items per share

        
Cash flow per share 1 97.64 33.73 59.26 111.7 120.2 125.7 148.6 176
Change - -65.45% 75.68% 88.46% 7.65% 4.53% 18.22% 18.44%
Dividend per Share 1 - - - - - - - -
Change - - - - - - - -
Book Value Per Share 1 289.7 336.3 415.8 478.9 556 625.1 776 907.3
Change - 16.08% 23.63% 15.19% 16.09% 12.43% 24.14% 16.93%
EPS 1 72.21 45.54 83.65 66.02 121.4 116.8 100.1 131.5
Change - -36.93% 83.68% -21.08% 83.82% -3.8% -14.28% 31.45%
Nbr of stocks (in thousands) 65,410 65,423 65,362 65,322 63,524 61,599 61,599 61,599
Announcement Date 23/02/21 16/02/22 22/02/23 14/02/24 12/02/25 - - -
1DKK
Estimates
2025 *2026 *
P/E ratio 17.5x 20.4x
PBR 3.27x 2.64x
EV / Sales 4.32x 3.43x
Yield - -
More valuation ratios * Estimated data

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AA
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
2,046.00DKK
Average target price
2,083.23DKK
Spread / Average Target
+1.82%
Consensus

Quarterly revenue - Rate of surprise