Genmab A/S (GMAB)

Genmab A/S, a biotechnology company, develops antibody-based products and product candidates for the treatment of cancer and other diseases in Denmark. The company markets EPKINLY and TEPKINLY for adult patients with relapsed or refractory (R/R) diffuse large b-cell lymphoma (DLBCL), large B-cell lymphoma, and follicular lymphoma (FL); and Tivdak for adult patients with recurrent/metastatic cervical cancer with disease progression on or after chemotherapy. It is also developing Epcoritamab for R/R DLBCL and FL, first line DLBCL and FL, B-cell non-Hodgkin lymphoma, R/R chronic lymphocytic leukemia and Richter's syndrome, and aggressive mature B-cell neoplasms in pediatric patients; tisotumab vedotin for solid tumors; Acasunlimab for solid tumors and non-small cell lung cancer (NSCLC); Rinatabart Sesutecan for platinum resistant ovarian cancer and solid tumors; GEN1059, GEN1055, and GEN1057 for solid tumors; and GEN1286 for advanced solid tumors. In addition, the company offers DARZALEX/DARZALEX FASPRO for multiple myeloma (MM) and light-chain Amyloidosis; RYBREVANT for NSCLC; TECVAYLI and TALVEY for R/R MM; Kesimpta for Relapsing multiple sclerosis; and TEPEZZA for thyroid eye disease. Further, it is developing Amivantamab for recurrent/metastatic head and neck cancer, and advanced or metastatic colorectal cancer; Amlenetug for multiple system atrophy; Inclacumab for vaso-occulsive crises in sickle cell diseases; and Mim8 for hemophilia A. The company has a collaboration agreement with AbbVie Inc., Pfizer Inc., BioNTech SE, Johnson & Johnson, Medarex, Inc., Bristol Myers Squibb Corporation, Lundbeck A/S, Amgen Inc., Novo Nordisk A/S, and argenx. Genmab A/S was incorporated in 1998 and is headquartered in Copenhagen, Denmark.

Ticker
GMAB
Exchange
Nasdaq
Sector
Healthcare
Industry
Biotechnology
Market cap
$34.71B
52-week range
$23.62 - $59.97

Valuation

Share price
$53.63 (close of Nov 6, 2026)
P/E (TTM)
34.60x
Price to book
5.94x
Price to free cash flow
30.21x
Enterprise value
$38.42B
Book value per share
$9.03

Price performance

PeriodChange
1 day+1.69%
5 days-6.01%
1 month+41.88%
3 months+79.79%
6 months+92.29%
Year to date+74.12%
1 year+85.96%
3 years+85.89%
5 years+15.43%
10 years+204.72%
All time+1,321.79%

Short interest

As of
Oct 15, 2026
Short % of float
1.09%
Shares short
6.60M
Days to cover
1.34
Change since prior report
+8.85%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
16.47%
Return on invested capital
7.31%
Return on assets
7.48%
Return on capital employed
9.30%
Gross margin
93.60%
Net margin
25.89%
EBITDA margin
28.63%
Revenue growth
19.19%
Net income growth
-15.00%
Free cash flow growth
4.55%

Cash flow and balance sheet

Free cash flow yield (TTM)
3.31%
Current ratio
2.02x
Net debt to EBITDA
2.78x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$3.72B
Cost of revenue
$238.00M
Gross profit
$3.48B
EBITDA
$1.06B
Net income
$963.00M
Earnings per share
$1.55
Research and development
$1.61B
Interest expense
$269.00M
Shares outstanding
647.21M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$3.72B$3.48B$963.00M$1.55
2024-12-31$3.12B$2.98B$1.13B$1.77
2023-12-31$2.39B$2.36B$631.00M$0.97
2022-12-31$2.06B-$773.28M$1.18
2021-12-31$1.34B-$470.38M$0.72
2020-12-31$1.55B-$729.26M$1.12
2019-12-31$805.01M-$324.94M$0.52
2018-12-31$479.56M-$233.36M$0.38
2017-12-31$359.37M-$167.76M$0.28

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3193.60%25.89%16.47%7.31%
2024-12-3195.42%36.30%22.06%14.75%
2023-12-3198.62%26.40%13.46%12.21%
2022-12-31-37.59%19.75%16.92%
2021-12-31-35.13%--
2020-12-31-47.06%--
2019-12-31-40.37%15.43%13.68%
2018-12-31-48.66%19.01%16.01%
2017-12-31-46.68%16.68%20.30%

Cash and debt by year

Period endCashDebt
2025-12-31$1.72B$5.00B
2024-12-31$1.38B-
2023-12-31$2.20B-
2019-12-31$532.57M-
2018-12-31$81.66M-

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$1.15B$128.00M
2024-12-31$1.10B$105.00M
2023-12-31$1.02B$85.00M
2022-12-31$509.90M$62.27M
2021-12-31$314.33M$49.31M
2020-12-31$938.94M$30.65M
2019-12-31$187.08M$22.05M
2018-12-31$149.50M$14.43M
2017-12-31$227.93M$11.55M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-05Sep 2026$0.36
2026-08-06Jun 2026$0.37
2026-05-07Mar 2026$0.15
2026-02-17Dec 2025$0.46
2025-11-06Sep 2025$0.48
2025-08-07Jun 2025$0.39
2025-05-08Mar 2025$0.23
2025-02-12Dec 2024$0.36

Filings and sources

Company website
genmab.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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