Comprehensive Stock Comparison
Compare Apellis Pharmaceuticals, Inc. (APLS) vs argenx SE (ARGX) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | ARGX | 78.6% revenue growth vs APLS's -11.8% |
| Value | ARGX | Lower P/E (25.6x vs 116.4x) |
| Quality / Margins | ARGX | 23.3% net margin vs APLS's 3.2% |
| Stability / Safety | ARGX | Beta 0.44 vs APLS's 0.84, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | ARGX | +22.8% vs APLS's -16.7% |
| Efficiency (ROA) | ARGX | 12.9% ROA vs APLS's 2.3%, ROIC -0.5% vs 27.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Apellis Pharmaceuticals is a commercial-stage biopharmaceutical company developing and commercializing therapies that target the complement system — a part of the immune system — for autoimmune and inflammatory diseases. It generates revenue primarily from sales of its approved drug EMPAVELI® (pegcetacoplan) for paroxysmal nocturnal hemoglobinuria, with additional revenue from SYFOVRE® (pegcetacoplan injection) for geographic atrophy, and is advancing a pipeline of complement-targeting candidates. Its key advantage is its deep expertise in complement inhibition — a complex biological pathway — and its first-mover position with the first approved therapy for geographic atrophy.
argenx is a biotechnology company that develops antibody-based therapies for autoimmune diseases. It generates nearly all its revenue from VYVGART — its FcRn blocker for conditions like myasthenia gravis — with additional income from partnerships and licensing. The company's key advantage is its proprietary antibody engineering platform that creates differentiated therapies with potentially better safety and efficacy profiles.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
ARGX leads in 3 of 6 categories (Profitability & Efficiency, Total Returns). APLS leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
ARGX is the larger business by revenue, generating $4.0B annually — 5.7x APLS's $689M. ARGX is the more profitable business, keeping 23.3% of every revenue dollar as net income compared to APLS's 3.2%. On growth, ARGX holds the edge at +5.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | APLSApellis Pharmaceu… | ARGXargenx SE |
|---|---|---|
| RevenueTrailing 12 months | $689M | $4.0B |
| EBITDAEarnings before interest/tax | $55M | $95M |
| Net IncomeAfter-tax profit | $0 | $923M |
| Free Cash FlowCash after capex | $45M | $213M |
| Gross MarginGross profit ÷ Revenue | +85.2% | +75.5% |
| Operating MarginEBIT ÷ Revenue | +8.0% | -1.0% |
| Net MarginNet income ÷ Revenue | +3.2% | +23.3% |
| FCF MarginFCF ÷ Revenue | +6.6% | +5.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | -153.9% | +5.1% |
| EPS Growth (YoY)Latest quarter vs prior year | -124.1% | +12.6% |
Valuation Metrics
At 60.0x trailing earnings, ARGX trades at a 48% valuation discount to APLS's 116.4x P/E.
| Metric | APLSApellis Pharmaceu… | ARGXargenx SE |
|---|---|---|
| Market CapShares × price | $2.7B | $47.5B |
| Enterprise ValueMkt cap + debt − cash | $2.3B | $46.0B |
| Trailing P/EPrice ÷ TTM EPS | 116.44x | 60.01x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 25.57x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 33.61x | — |
| Price / SalesMarket cap ÷ Revenue | 3.85x | 21.67x |
| Price / BookPrice ÷ Book value/share | 7.14x | 9.09x |
| Price / FCFMarket cap ÷ FCF | 58.55x | — |
Profitability & Efficiency
ARGX delivers a 15.1% return on equity — every $100 of shareholder capital generates $15 in annual profit, vs $7 for APLS. ARGX carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to APLS's 0.30x. On the Piotroski fundamental quality scale (0–9), APLS scores 6/9 vs ARGX's 3/9, reflecting solid financial health.
| Metric | APLSApellis Pharmaceu… | ARGXargenx SE |
|---|---|---|
| ROE (TTM)Return on equity | +7.5% | +15.1% |
| ROA (TTM)Return on assets | +2.3% | +12.9% |
| ROICReturn on invested capital | +27.4% | -0.5% |
| ROCEReturn on capital employed | +7.6% | -0.4% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 3 |
| Debt / EquityFinancial leverage | 0.30x | 0.01x |
| Net DebtTotal debt minus cash | -$354M | -$1.5B |
| Cash & Equiv.Liquid assets | $466M | $1.5B |
| Total DebtShort + long-term debt | $113M | $39M |
| Interest CoverageEBIT ÷ Interest expense | 1.22x | 166.64x |
Total Returns (with DRIP)
A $10,000 investment in ARGX five years ago would be worth $22,521 today (with dividends reinvested), compared to $4,396 for APLS. Over the past 12 months, ARGX leads with a +22.8% total return vs APLS's -16.7%. The 3-year compound annual growth rate (CAGR) favors ARGX at 28.0% vs APLS's -31.6% — a key indicator of consistent wealth creation.
| Metric | APLSApellis Pharmaceu… | ARGXargenx SE |
|---|---|---|
| YTD ReturnYear-to-date | -18.9% | -8.7% |
| 1-Year ReturnPast 12 months | -16.7% | +22.8% |
| 3-Year ReturnCumulative with dividends | -68.0% | +109.5% |
| 5-Year ReturnCumulative with dividends | -56.0% | +125.2% |
| 10-Year ReturnCumulative with dividends | +49.4% | +3234.4% |
| CAGR (3Y)Annualised 3-year return | -31.6% | +28.0% |
Risk & Volatility
ARGX is the less volatile stock with a 0.44 beta — it tends to amplify market swings less than APLS's 0.84 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ARGX currently trades 82.1% from its 52-week high vs APLS's 68.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | APLSApellis Pharmaceu… | ARGXargenx SE |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.84x | 0.44x |
| 52-Week HighHighest price in past year | $30.48 | $934.62 |
| 52-Week LowLowest price in past year | $16.10 | $510.06 |
| % of 52W HighCurrent price vs 52-week peak | +68.8% | +82.1% |
| RSI (14)Momentum oscillator 0–100 | 43.8 | 33.9 |
| Avg Volume (50D)Average daily shares traded | 2.5M | 301K |
Analyst Outlook
Wall Street rates APLS as "Buy" and ARGX as "Buy". Consensus price targets imply 59.8% upside for APLS (target: $34) vs 33.9% for ARGX (target: $1027).
| Metric | APLSApellis Pharmaceu… | ARGXargenx SE |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $33.50 | $1026.71 |
| # AnalystsCovering analysts | 25 | 35 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Apellis Pharmaceuti… (APLS) | 100 | 62.27 | -37.7% |
| argenx SE (ARGX) | 100 | 564.69 | +464.7% |
argenx SE (ARGX) returned +125% over 5 years vs Apellis Pharmaceuti… (APLS)'s -56%. A $10,000 investment in ARGX 5 years ago would be worth $22,521 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Apellis Pharmaceuti… (APLS) | $0.00 | $689M | — |
| argenx SE (ARGX) | $15M | $2.2B | +14054.3% |
Apellis Pharmaceuticals, Inc.'s revenue grew from $0M (2016) to $689M (2025) — a 0.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Apellis Pharmaceuti… (APLS) | -137.6% | 3.2% | +102.4% |
| argenx SE (ARGX) | -145.3% | 38.0% | +126.2% |
Chart 4EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Apellis Pharmaceuti… (APLS) | -1.5 | 0.18 | +112.0% |
| argenx SE (ARGX) | -1.2 | 12.78 | +1165.0% |
Apellis Pharmaceuticals, Inc.'s EPS grew from $-1.50 (2016) to $0.18 (2025).
Chart 5Free Cash Flow — 5 Years
Apellis Pharmaceuticals, Inc. generated $45M FCF in 2025 (+108% vs 2021). argenx SE generated $-151M FCF in 2024 (+79% vs 2021).
APLS vs ARGX: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is APLS or ARGX a better buy right now?
argenx SE (ARGX) offers the better valuation at 60.0x trailing P/E (25.6x forward), making it the more compelling value choice. Analysts rate Apellis Pharmaceuticals, Inc. (APLS) a "Buy" — based on 25 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — APLS or ARGX?
On trailing P/E, argenx SE (ARGX) is the cheapest at 60.0x versus Apellis Pharmaceuticals, Inc. at 116.4x.
03Which is the better long-term investment — APLS or ARGX?
Over the past 5 years, argenx SE (ARGX) delivered a total return of +125.2%, compared to -56.0% for Apellis Pharmaceuticals, Inc. (APLS). A $10,000 investment in ARGX five years ago would be worth approximately $23K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ARGX returned +32.3% versus APLS's +49.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — APLS or ARGX?
By beta (market sensitivity over 5 years), argenx SE (ARGX) is the lower-risk stock at 0.44β versus Apellis Pharmaceuticals, Inc.'s 0.84β — meaning APLS is approximately 92% more volatile than ARGX relative to the S&P 500. On balance sheet safety, argenx SE (ARGX) carries a lower debt/equity ratio of 1% versus 30% for Apellis Pharmaceuticals, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — APLS or ARGX?
argenx SE (ARGX) is the more profitable company, earning 38.0% net margin versus 3.2% for Apellis Pharmaceuticals, Inc. — meaning it keeps 38.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: APLS leads at 8.0% versus -1.0% for ARGX. At the gross margin level — before operating expenses — ARGX leads at 89.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is APLS or ARGX more undervalued right now?
Analyst consensus price targets imply the most upside for APLS: 59.8% to $33.50.
07Which pays a better dividend — APLS or ARGX?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is APLS or ARGX better for a retirement portfolio?
For long-horizon retirement investors, argenx SE (ARGX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.44)). Both have compounded well over 10 years (ARGX: +32.3%, APLS: +49.4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between APLS and ARGX?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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