Comprehensive Stock Comparison
Compare argenx SE (ARGX) vs Kiniksa Pharmaceuticals, Ltd. (KNSA) 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 KNSA's 60.1% |
| Value | ARGX | Lower P/E (25.6x vs 34.8x) |
| Quality / Margins | ARGX | 23.3% net margin vs KNSA's 17.5% |
| Stability / Safety | ARGX | Beta 0.44 vs KNSA's 0.46, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | KNSA | +119.4% vs ARGX's +22.8% |
| Efficiency (ROA) | KNSA | 15.5% ROA vs ARGX's 12.9%, ROIC 17.1% vs -0.5% |
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
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.
Kiniksa Pharmaceuticals is a biopharmaceutical company that develops and commercializes treatments for inflammatory and autoimmune diseases. It generates revenue primarily from sales of ARCALYST for recurrent pericarditis — its only approved product — with additional income from licensing and collaboration agreements. The company's competitive advantage lies in its targeted pipeline of monoclonal antibodies addressing specific immune pathways with high unmet medical needs.
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
KNSA leads in 4 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 1 category is tied.
Financial Metrics (TTM)
ARGX is the larger business by revenue, generating $4.0B annually — 5.8x KNSA's $678M. ARGX is the more profitable business, keeping 23.3% of every revenue dollar as net income compared to KNSA's 17.5%. On growth, KNSA holds the edge at +65.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ARGXargenx SE | KNSAKiniksa Pharmaceu… |
|---|---|---|
| RevenueTrailing 12 months | $4.0B | $678M |
| EBITDAEarnings before interest/tax | $95M | $79M |
| Net IncomeAfter-tax profit | $923M | $119M |
| Free Cash FlowCash after capex | $213M | $136M |
| Gross MarginGross profit ÷ Revenue | +75.5% | — |
| Operating MarginEBIT ÷ Revenue | -1.0% | +11.4% |
| Net MarginNet income ÷ Revenue | +23.3% | +17.5% |
| FCF MarginFCF ÷ Revenue | +5.4% | +20.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +5.1% | +65.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +12.6% | +2.5% |
Valuation Metrics
At 59.3x trailing earnings, KNSA trades at a 1% valuation discount to ARGX's 60.0x P/E.
| Metric | ARGXargenx SE | KNSAKiniksa Pharmaceu… |
|---|---|---|
| Market CapShares × price | $47.5B | $3.4B |
| Enterprise ValueMkt cap + debt − cash | $46.0B | $3.2B |
| Trailing P/EPrice ÷ TTM EPS | 60.01x | 59.32x |
| Forward P/EPrice ÷ next-FY EPS est. | 25.57x | 34.78x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 41.03x |
| Price / SalesMarket cap ÷ Revenue | 21.67x | 5.01x |
| Price / BookPrice ÷ Book value/share | 9.09x | 6.19x |
| Price / FCFMarket cap ÷ FCF | — | 133.57x |
Profitability & Efficiency
KNSA delivers a 20.9% return on equity — every $100 of shareholder capital generates $21 in annual profit, vs $15 for ARGX. ARGX carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to KNSA's 0.02x. On the Piotroski fundamental quality scale (0–9), KNSA scores 6/9 vs ARGX's 3/9, reflecting solid financial health.
| Metric | ARGXargenx SE | KNSAKiniksa Pharmaceu… |
|---|---|---|
| ROE (TTM)Return on equity | +15.1% | +20.9% |
| ROA (TTM)Return on assets | +12.9% | +15.5% |
| ROICReturn on invested capital | -0.5% | +17.1% |
| ROCEReturn on capital employed | -0.4% | +14.0% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 6 |
| Debt / EquityFinancial leverage | 0.01x | 0.02x |
| Net DebtTotal debt minus cash | -$1.5B | -$156M |
| Cash & Equiv.Liquid assets | $1.5B | $166M |
| Total DebtShort + long-term debt | $39M | $9M |
| Interest CoverageEBIT ÷ Interest expense | 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 $20,324 for KNSA. Over the past 12 months, KNSA leads with a +119.4% total return vs ARGX's +22.8%. The 3-year compound annual growth rate (CAGR) favors KNSA at 51.2% vs ARGX's 28.0% — a key indicator of consistent wealth creation.
| Metric | ARGXargenx SE | KNSAKiniksa Pharmaceu… |
|---|---|---|
| YTD ReturnYear-to-date | -8.7% | +5.9% |
| 1-Year ReturnPast 12 months | +22.8% | +119.4% |
| 3-Year ReturnCumulative with dividends | +109.5% | +246.0% |
| 5-Year ReturnCumulative with dividends | +125.2% | +103.2% |
| 10-Year ReturnCumulative with dividends | +3234.4% | +128.5% |
| CAGR (3Y)Annualised 3-year return | +28.0% | +51.2% |
Risk & Volatility
ARGX is the less volatile stock with a 0.44 beta — it tends to amplify market swings less than KNSA's 0.46 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. KNSA currently trades 90.6% from its 52-week high vs ARGX's 82.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ARGXargenx SE | KNSAKiniksa Pharmaceu… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.44x | 0.46x |
| 52-Week HighHighest price in past year | $934.62 | $49.12 |
| 52-Week LowLowest price in past year | $510.06 | $18.26 |
| % of 52W HighCurrent price vs 52-week peak | +82.1% | +90.6% |
| RSI (14)Momentum oscillator 0–100 | 33.9 | 47.3 |
| Avg Volume (50D)Average daily shares traded | 301K | 469K |
Analyst Outlook
Wall Street rates ARGX as "Buy" and KNSA as "Buy". Consensus price targets imply 33.9% upside for ARGX (target: $1027) vs 25.1% for KNSA (target: $56).
| Metric | ARGXargenx SE | KNSAKiniksa Pharmaceu… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $1026.71 | $55.67 |
| # AnalystsCovering analysts | 35 | 10 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.2% |
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 |
|---|---|---|---|
| argenx SE (ARGX) | 100 | 564.69 | +464.7% |
| Kiniksa Pharmaceuti… (KNSA) | 100 | 236.47 | +136.5% |
argenx SE (ARGX) returned +125% over 5 years vs Kiniksa Pharmaceuti… (KNSA)'s +103%. 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 |
|---|---|---|---|
| argenx SE (ARGX) | $15M | $2.2B | +14054.3% |
| Kiniksa Pharmaceuti… (KNSA) | $0.00 | $678M | — |
Kiniksa Pharmaceuticals, Ltd.'s revenue grew from $0M (2016) to $678M (2025) — a 0.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| argenx SE (ARGX) | -145.3% | 38.0% | +126.2% |
| Kiniksa Pharmaceuti… (KNSA) | -4.1% | 17.5% | +527.7% |
Chart 4P/E Ratio History — 3 Years
| Stock | 2022 | 2025 | Change |
|---|---|---|---|
| Kiniksa Pharmaceuti… (KNSA) | 5.8 | 55 | +848.3% |
Kiniksa Pharmaceuticals, Ltd. has traded in a 6x–88x P/E range over 3 years; current trailing P/E is ~59x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| argenx SE (ARGX) | -1.2 | 12.78 | +1165.0% |
| Kiniksa Pharmaceuti… (KNSA) | -0.74 | 0.75 | +201.4% |
Kiniksa Pharmaceuticals, Ltd.'s EPS grew from $-0.74 (2016) to $0.75 (2025).
Chart 6Free Cash Flow — 5 Years
argenx SE generated $-151M FCF in 2024 (+79% vs 2021). Kiniksa Pharmaceuticals, Ltd. generated $25M FCF in 2025 (+117% vs 2021).
ARGX vs KNSA: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is ARGX or KNSA a better buy right now?
Kiniksa Pharmaceuticals, Ltd. (KNSA) offers the better valuation at 59.3x trailing P/E (34.8x forward), making it the more compelling value choice. Analysts rate argenx SE (ARGX) a "Buy" — based on 35 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 — ARGX or KNSA?
On trailing P/E, Kiniksa Pharmaceuticals, Ltd. (KNSA) is the cheapest at 59.3x versus argenx SE at 60.0x. On forward P/E, argenx SE is actually cheaper at 25.6x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — ARGX or KNSA?
Over the past 5 years, argenx SE (ARGX) delivered a total return of +125.2%, compared to +103.2% for Kiniksa Pharmaceuticals, Ltd. (KNSA). 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 KNSA's +128.5%. 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 — ARGX or KNSA?
By beta (market sensitivity over 5 years), argenx SE (ARGX) is the lower-risk stock at 0.44β versus Kiniksa Pharmaceuticals, Ltd.'s 0.46β — meaning KNSA is approximately 6% 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 2% for Kiniksa Pharmaceuticals, Ltd. — giving it more financial flexibility in a downturn.
05Which has better profit margins — ARGX or KNSA?
argenx SE (ARGX) is the more profitable company, earning 38.0% net margin versus 17.5% for Kiniksa Pharmaceuticals, Ltd. — meaning it keeps 38.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: KNSA leads at 11.4% 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 ARGX or KNSA more undervalued right now?
On forward earnings alone, argenx SE (ARGX) trades at 25.6x forward P/E versus 34.8x for Kiniksa Pharmaceuticals, Ltd. — 9.2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ARGX: 33.9% to $1026.71.
07Which pays a better dividend — ARGX or KNSA?
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 ARGX or KNSA better for a retirement portfolio?
For long-horizon retirement investors, Kiniksa Pharmaceuticals, Ltd. (KNSA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.46), +128.5% 10Y return). Both have compounded well over 10 years (KNSA: +128.5%, ARGX: +32.3%), 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 ARGX and KNSA?
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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