argenx SE (ARGX)
argenx SE, a commercial-stage biopharma company, develops various therapies for the treatment of autoimmune diseases in the United States, Japan, China, the Netherlands, and internationally. The company offers VYVGART for the treatment of gMG and immune thrombocytopenia (ITP), and VYVGART HYTRULO for the treatment of gMG and chronic inflammatory demyelinating polyneuropathy (CIDP). It also develops efgartigimod for the treatment of seronegative gMG, ocular myasthenia gravis (MG), primary ITP, grave's disease, myositis, Sjögren's disease, systemic sclerosis, and AMR; empasiprubart for MMN, delayed graft function, and CIDP; and adimanebart for congenital myasthenic syndrome and spinal muscular atrophy. In addition, the company is developing ARGX-213, a neonatal Fc receptor (FcRn)-targeted antibody engineered for half-life extension and sustained IgG reduction; ARGX-124, a FcRn pipeline candidate; ARGX-109, which targets IL-6 to treat inflammation; ARGX-121, which targets immunoglobulin A; and ARGX-118, which develops antibodies against Galectin-10, as well as cusatuzumab, ARGX-112, ARGX-114, and ARGX-115. It has strategic partnerships and license agreements with Zai Lab to develop and commercialize efgartigimod; Halozyme Therapeutics to its ENHANZE for the prevention and treatment of human diseases; OncoVerity, Inc for cusatuzumab; and AbbVie, Inc. for ARGX-115. argenx SE was incorporated in 2008 and is based in Amsterdam, the Netherlands.
- Symbol
- ARGX
- Exchange
- Nasdaq
- Sector
- Healthcare
- Industry
- Biotechnology
- Market cap
- $58.53B
- 52 week range
- 661.85 - 1072.75
Valuation
- Share price
- $935.92 (close of 2026-09-23)
- P/E (TTM)
- 44.87x
- Price to book
- 7.99x
- Price to free cash flow
- 86.20x
- Enterprise value
- $55.09B
- Book value per share
- $118.34
Price performance
| Period | Change |
|---|
| 1 day | -5.29% |
| 5 days | -4.47% |
| 1 month | -9.99% |
| 3 months | +9.67% |
| 6 months | +37.26% |
| Year to date | +11.29% |
| 1 year | +27.44% |
| 3 years | +85.03% |
| 5 years | +194.31% |
| All time | +3969.22% |
Profitability and growth
- Return on equity
- 17.64%
- Return on invested capital
- 27.17%
- Return on assets
- 14.88%
- Return on capital employed
- 14.31%
- Net income growth
- 55.10%
- Free cash flow growth
- 903.13%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 1.16%
- Current ratio
- 5.23x
- Net debt to EBITDA
- -2.63x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- EBITDA
- $1.05B
- Net income
- $1.29B
- Earnings per share
- $21.08
- Research and development
- $1.36B
- Interest expense
- $4.08M
- Shares outstanding
- 61.30M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | - | - | $1.29B | $21.08 |
| 2024-12-31 | - | - | $833.04M | $13.92 |
| 2023-12-31 | $35.53M | $-82.30M | $-295.05M | $-5.16 |
| 2022-12-31 | $10.03M | $-19.41M | $-709.59M | $-13.05 |
| 2021-12-31 | $497.28M | $231.77M | $-408.26M | $-7.99 |
| 2020-12-31 | $41.24M | - | $-608.46M | $-13.40 |
| 2019-12-31 | $78.46M | $21.88M | $-181.21M | $-4.69 |
| 2018-12-31 | $21.48M | $1.76M | $-66.64M | $-1.99 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | - | - | 17.64% | 27.17% |
| 2024-12-31 | - | - | 15.15% | -0.27% |
| 2023-12-31 | -231.62% | -830.36% | -7.20% | -20.09% |
| 2022-12-31 | -193.55% | -7077.54% | -25.22% | -34.59% |
| 2021-12-31 | 46.61% | -82.10% | -16.11% | -28.80% |
| 2020-12-31 | - | -1475.29% | -36.35% | -102.29% |
| 2019-12-31 | 27.88% | -230.95% | -15.35% | -24.39% |
| 2018-12-31 | 8.19% | -310.22% | -10.81% | -27.78% |
Cash and debt by year
| Period end | Cash |
|---|
| 2025-12-31 | $3.49B |
| 2024-12-31 | $1.50B |
| 2023-12-31 | $2.05B |
| 2022-12-31 | $800.74M |
| 2021-12-31 | $1.33B |
| 2020-12-31 | $1.22B |
| 2019-12-31 | $372.16M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $679.03M | $248.08M |
| 2024-12-31 | $-84.55M | $235.18M |
| 2023-12-31 | $-421.14M | $232.97M |
| 2022-12-31 | $-863.64M | $157.03M |
| 2021-12-31 | $-610.43M | $179.37M |
| 2020-12-31 | $-399.53M | $96.93M |
| 2019-12-31 | $149.83M | $44.24M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-29
- Consensus EPS estimate
- $7.62
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-23 | Jun/2026 | $6.13 |
| 2026-05-07 | - | - |
| 2026-02-26 | - | - |
| 2025-10-30 | - | - |
| 2025-07-31 | - | - |
| 2025-05-08 | - | - |
| 2025-02-27 | - | - |
| 2024-10-31 | - | - |
Filings and sources
- Company website
- argenx.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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