NASDAQ · Financial Statements

Genmab A/S (GMAB) Financial Statements

$29.00 NASDAQ: GMAB Market Cap $17.80B

Genmab A/S most recently reported annual revenue of $3.7B, net profit of $964.0M. Revenue declined at an average annual rate of 18.1% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Genmab A/S: Revenue rose from $1.8B in 2016 to $3.7B in 2025, a change of +105.0% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 58.0% to 33.6%, a shift of -24.4 percentage points; the most recent year shows net profit of $964.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$1.8B$2.4B$3.0B$5.4B$10.1B$8.4B$14.5B$16.5B$21.5B$3.7B
Operating Expenses$763.0M$1.0B$1.6B$2.7B$3.8B$5.5B$8.2B$11.2B$14.8B$2.5B
Operating Profit$1.1B$1.3B$1.4B$2.6B$6.3B$3.0B$6.3B$5.3B$6.7B$1.3B
Operating Margin58.0%56.8%45.6%49.2%62.4%35.1%43.2%32.3%31.1%33.6%
Other Income$77.0M$-280.0M$232.0M$221.0M$-409.0M$965.0M$678.0M$316.0M$2.5B$-46.0M
Interest$0$2.0M$0$7.0M$10.0M$13.0M$21.0M$27.0M$120.0M$61.0M
Depreciation$41.0M$70.0M$88.0M$139.0M$246.0M$250.0M$362.0M$240.0M$413.0M$71.0M
Profit Before Tax$1.1B$1.1B$1.6B$2.9B$5.9B$3.9B$6.9B$5.6B$9.2B$1.2B
Tax$-5.0M$-3.7M$8.7M$24.2M$19.4M$24.5M$21.5M$22.8M$14.4M$20.0M
Net Profit$1.2B$1.1B$1.5B$2.2B$4.8B$3.0B$5.5B$4.4B$7.8B$964.0M
EPS$1.92$1.78$2.37$3.40$7.22$4.48$8.26$6.60$12.14$1.54
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricJun '23Sep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26
Revenue$4.2B$4.7B$4.7B$603.0M$779.0M$5.5B$6.4B$105.0M$925.0M$1.0B$1.1B$899.0M
Operating Expenses$2.7B$3.0B$3.0B$487.0M$543.0M$3.4B$4.3B$78.0M$565.0M$563.0M$813.0M$673.0M
Operating Profit$1.5B$1.7B$1.7B$116.0M$236.0M$2.1B$2.2B$28.0M$360.0M$459.0M$242.0M$226.0M
Operating Margin35.2%35.8%35.7%19.2%30.3%37.9%33.5%26.3%38.9%44.9%23.0%25.1%
Interest$7.0M$8.0M$6.0M$4.0M$19.0M$18.0M$54.0M$1.0M$9.0M$3.0M$44.0M$112.0M
Profit Before Tax$1.7B$2.7B$926.0M$249.0M$307.0M$1.7B$3.6B$36.0M$423.0M$482.0M$55.0M$74.0M
Tax$21.2M$21.2M$30.9M$22.9M$33.9M$26.4M$-6.8M$20.1M$20.6M$16.8M$43.6M$28.4M
Net Profit$1.3B$2.1B$640.0M$192.0M$203.0M$1.3B$3.8B$29.0M$336.0M$401.0M$31.0M$53.0M
EPS$2.06$3.23$0.97$2.02$0.31$1.95$5.99$0.05$0.54$0.65$0.05$0.08

Over the 10 years reported for Genmab A/S, cash stood at $1.7B in the latest year, shareholders' equity was $10.0M, current assets covered current liabilities 2.02 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$5.2B$6.6B$8.5B$15.1B$21.1B$24.6B$30.1B$35.3B$45.8B$12.8B
Current Assets$4.9B$6.1B$7.4B$14.0B$18.8B$22.7B$28.2B$33.1B$27.9B$2.9B
Cash$307.0M$1.3B$533.0M$3.6B$7.3B$9.0B$9.9B$14.9B$9.9B$1.7B
Inventory$0$0$0$0$0$0$0$57.0M$62.0M$18.0M
Receivables$976.0M$579.0M$1.3B$3.0B$2.5B$3.4B$5.7B$4.9B$6.7B$1.1B
Fixed Assets$32.0M$113.0M$162.0M$414.0M$736.0M$975.0M$1.3B$1.6B$264.0M$279.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$3.6B$4.1B$5.6B$7.6B$9.9B$10.8B$12.6B$13.4B$11.5B$59.0M
Other Assets$0$0$0$0$0$0$0$0$2.5B$354.0M
Total Liabilities$412.0M$331.0M$447.0M$1.1B$2.0B$2.4B$2.8B$3.7B$9.1B$7.0B
Current Liabilities$412.0M$327.0M$443.0M$938.0M$1.3B$1.6B$1.8B$2.5B$5.3B$1.4B
Borrowings$0$0$0$181.0M$319.0M$425.0M$597.0M$770.0M$1.0B$5.4B
Other Liabilities$412.0M$331.0M$447.0M$915.0M$1.7B$2.0B$2.2B$2.9B$8.1B$1.6B
Equity$60.0M$61.0M$61.0M$65.0M$66.0M$66.0M$66.0M$66.0M$66.0M$10.0M
Reserves$4.8B$6.3B$8.0B$14.0B$19.1B$22.2B$27.3B$31.6B$36.7B$5.8B

For Genmab A/S, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $1.1B; free cash flow was positive in 10 of 10 years; financing activities used $461.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$328.0M$1.6B$1.0B$1.3B$6.4B$2.2B$3.9B$7.4B$7.8B$1.2B
Investing Cash Flow$-1.0B$-756.0M$-2.3B$-2.1B$-2.7B$-1.2B$-3.1B$-1.7B$-10.1B$-5.7B
Financing Cash Flow$91.0M$11.0M$-71.0M$-182.0M$115.0M$-362.0M$-716.0M$-515.0M$-3.9B$-461.0M
Net Cash Flow$-567.0M$1.0B$-815.0M$3.0B$3.7B$1.7B$936.0M$5.0B$-5.0B$345.0M
Free Cash Flow$295.0M$1.5B$537.0M$1.2B$6.1B$2.0B$3.6B$7.0B$7.6B$1.1B

Valuation & Return Ratios

MetricValue
PEG Ratio-0.25
EV / EBITDA15.13
FCF Yield4.99%
Quick Ratio2.17
Interest Coverage7.72
Return 1Y46.60%
Return 3Y48.34%
Return 5Y-16.01%

Genmab A/S (GMAB) financials — frequently asked questions

What is Genmab A/S's annual revenue?

Genmab A/S (GMAB) reported annual revenue of $3.7B in its most recent fiscal year.

What is Genmab A/S's net profit?

Genmab A/S (GMAB) reported net profit of $964.0M in its most recent fiscal year.

What is GMAB EV/EBITDA?

Genmab A/S's enterprise value to EBITDA (EV/EBITDA) ratio is 15.13.

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