Top Page
Genmab
(NASDAQ:GMAB)
Genmab (GMAB) vs. SPDR S&P 500 ETF (SPY)
Genmab Business Overview & Revenue Model
Genmab Earnings Call Summary
Genmab Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.78B | 21.53B | 16.47B | 14.60B | 8.48B | 10.11B |
| Gross Profit | 21.51B | 20.54B | 16.25B | 14.60B | 8.48B | 10.11B |
| EBITDA | 7.66B | 9.70B | 5.56B | 7.35B | 3.15B | 6.54B |
| Net Income | 7.44B | 7.84B | 4.35B | 5.45B | 2.96B | 4.76B |
Balance Sheet | ||||||
| Total Assets | 40.96B | 45.81B | 35.29B | 30.28B | 24.63B | 21.14B |
| Cash, Cash Equivalents and Short-Term Investments | 18.37B | 21.10B | 28.14B | 22.32B | 19.34B | 16.08B |
| Total Debt | 937.88M | 1.03B | 770.00M | 597.00M | 425.00M | 319.00M |
| Total Liabilities | 7.36B | 9.11B | 3.68B | 2.84B | 2.43B | 2.02B |
| Stockholders Equity | 33.60B | 36.70B | 31.61B | 27.44B | 22.20B | 19.12B |
Cash Flow | ||||||
| Free Cash Flow | 6.68B | 7.58B | 7.00B | 3.60B | 1.98B | 6.13B |
| Operating Cash Flow | 7.09B | 7.77B | 7.38B | 3.91B | 2.23B | 6.43B |
| Investing Cash Flow | 178.60M | -9.91B | -1.28B | -2.76B | -961.00M | -2.35B |
| Financing Cash Flow | -2.93B | -3.92B | -606.00M | -789.00M | -420.00M | 71.00M |
Genmab Technical Analysis
Genmab Risk Analysis
Genmab Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $19.23B | 15.73 | 26.08% | ― | 23.25% | 64.46% | |
80 Outperform | $16.85B | 19.61 | 20.88% | ― | 18.87% | 1088.27% | |
76 Outperform | $10.53B | 16.46 | 10.90% | ― | 17.38% | 153.58% | |
73 Outperform | $21.18B | 15.81 | 12.37% | 2.38% | 3.04% | 53.03% | |
61 Neutral | $12.17B | -40.45 | 357.68% | ― | 55.77% | 46.81% | |
49 Neutral | $24.57B | -65.99 | -1.88% | ― | 7.51% | 30.53% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
Genmab Corporate Events
On September 30, 2025, Genmab A/S announced updates to its Articles of Association, detailing authorizations for capital increases and issuance of warrants and convertible debt instruments. These changes, approved by the Board of Directors, aim to support the company’s strategic growth and operational flexibility, potentially impacting shareholder rights and market positioning.
On September 29, 2025, Genmab A/S announced its intention to acquire Merus N.V., a clinical-stage biotechnology company, for approximately USD 8.0 billion in an all-cash transaction. This acquisition, unanimously approved by both companies’ boards, is expected to enhance Genmab’s late-stage pipeline and accelerate its transition to a wholly owned model. The addition of Merus’ lead asset, petosemtamab, which has received two Breakthrough Therapy Designations, aligns with Genmab’s strategic focus and is anticipated to drive significant growth, with potential new drug launches by 2027. The transaction is expected to close by early 2026 and is projected to be accretive to EBITDA by 2029, with substantial revenue potential thereafter.
On September 26, 2025, Genmab A/S announced the grant of 14,353 restricted stock units and 9,681 warrants to its employees and subsidiaries. These awards are part of Genmab’s strategy to incentivize its workforce, with restricted stock units and warrants vesting over three years. The initiative underscores Genmab’s commitment to employee engagement and aligns with its long-term growth and innovation goals in the biotechnology sector.
On September 23, 2025, Genmab A/S announced that Orbis Investment Management Limited now controls 5.03% of its share capital and voting rights, as of September 19, 2025. This major shareholder announcement highlights Orbis’s significant influence within Genmab, potentially impacting the company’s strategic decisions and market positioning.
On September 10, 2025, Genmab A/S announced updates to its Articles of Association, authorizing the Board of Directors to increase the company’s share capital and issue warrants and convertible debt instruments. These changes aim to provide financial flexibility and support the company’s growth strategy, impacting stakeholders by potentially diluting existing shares but also offering opportunities for investment and expansion.
On September 9, 2025, Genmab A/S announced a capital increase of 47,532 shares following the exercise of employee warrants, generating approximately DKK 51.5 million. This increase, which represents about 0.07% of the company’s share capital, includes the exercise of 23,266 warrants by CEO Jan van de Winkel. The new shares, ordinary and freely transferable, will be listed on Nasdaq Copenhagen, enhancing Genmab’s market position and potentially benefiting stakeholders by increasing the company’s equity base.
On August 13, 2025, Genmab A/S announced updates to its Articles of Association, including authorizations for the Board of Directors to increase share capital and issue warrants and convertible debt instruments. These changes aim to enhance the company’s financial flexibility and support its strategic growth initiatives, potentially impacting shareholder value and market positioning.
On August 12, 2025, Genmab A/S announced a capital increase of 4,563 shares following the exercise of employee warrants, raising approximately DKK 4.7 million. This increase, which represents about 0.01% of the company’s share capital, will be listed on Nasdaq Copenhagen and reflects Genmab’s ongoing commitment to enhancing its financial structure and supporting its strategic growth initiatives.
Genmab announced its financial results for the first half of 2025, reporting a 19% increase in revenue to $1,640 million compared to the same period in 2024. This growth was primarily driven by higher royalties from DARZALEX and Kesimpta, as well as increased EPKINLY sales. The company also highlighted significant progress in its clinical programs, including a submission to the FDA for Epcoritamab and promising data for Rinatabart sesutecan in endometrial cancer. Genmab’s operating profit rose to $548 million, and the company updated its revenue and operating profit guidance for 2025, reflecting higher royalty revenues.
On August 7, 2025, Genmab announced that its Phase 3 EPCORE® FL-1 clinical trial met dual primary endpoints in patients with relapsed/refractory follicular lymphoma. The trial demonstrated significant improvements in overall response rate and progression-free survival with the combination of epcoritamab, rituximab, and lenalidomide (R2) compared to R2 alone. The U.S. FDA has accepted a supplemental Biologics License Application for priority review, with a decision expected by November 30, 2025. If approved, this would mark the first bispecific antibody combination regimen available as a second-line treatment for this condition, potentially reshaping the treatment landscape.
On July 16, 2025, Genmab A/S announced that the net sales of DARZALEX® (daratumumab) for the second quarter of 2025 reached USD 3,539 million. The sales were divided between USD 2,017 million in the U.S. and USD 1,521 million in the rest of the world. Genmab receives royalties from Johnson & Johnson on these sales, reflecting the company’s strong position in the biotechnology industry and its successful collaboration with J&J.