Comprehensive Stock Comparison
Compare Relay Therapeutics, Inc. (RLAY) vs Genmab A/S (GMAB) 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 | RLAY | 53.4% revenue growth vs GMAB's 30.7% |
| Quality / Margins | GMAB | 46.8% net margin vs RLAY's -18.0% |
| Stability / Safety | GMAB | Beta 0.61 vs RLAY's 1.70, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | RLAY | +200.9% vs GMAB's +29.8% |
| Efficiency (ROA) | GMAB | 93.6% ROA vs RLAY's -44.5%, ROIC 22.2% vs -37.3% |
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
Relay Therapeutics is a clinical-stage biotech company developing precision medicines for cancer and genetic diseases using computational drug discovery. It generates revenue primarily through research collaborations and licensing deals — with no commercial products yet — while advancing its own pipeline of targeted oncology therapies. Its key competitive advantage is proprietary technology that analyzes protein motion to design more effective small molecule drugs, potentially accelerating and improving the drug discovery process.
Genmab is a biotechnology company that develops and commercializes antibody-based therapies for cancer and other serious diseases. It generates revenue primarily through product sales of its marketed antibodies like DARZALEX and teprotumumab, plus significant royalties and milestone payments from partnerships with pharmaceutical companies like Johnson & Johnson. The company's key advantage is its proprietary antibody technology platforms — particularly its DuoBody bispecific antibody platform — which enable it to create differentiated therapies with improved efficacy and safety profiles.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
GMAB leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). RLAY leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
GMAB is the larger business by revenue, generating $14.0B annually — 914.3x RLAY's $15M. GMAB is the more profitable business, keeping 46.8% of every revenue dollar as net income compared to RLAY's -18.0%.
| Metric | RLAYRelay Therapeutic… | GMABGenmab A/S |
|---|---|---|
| RevenueTrailing 12 months | $15M | $14.0B |
| EBITDAEarnings before interest/tax | -$303M | $5.3B |
| Net IncomeAfter-tax profit | -$276M | $6.6B |
| Free Cash FlowCash after capex | -$236M | $2.9B |
| Gross MarginGross profit ÷ Revenue | — | +94.3% |
| Operating MarginEBIT ÷ Revenue | -19.7% | +36.2% |
| Net MarginNet income ÷ Revenue | -18.0% | +46.8% |
| FCF MarginFCF ÷ Revenue | -15.4% | +20.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | -81.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +31.1% | -66.7% |
Valuation Metrics
| Metric | RLAYRelay Therapeutic… | GMABGenmab A/S |
|---|---|---|
| Market CapShares × price | $1.8B | $18.1B |
| Enterprise ValueMkt cap + debt − cash | $1.7B | $16.7B |
| Trailing P/EPrice ÷ TTM EPS | -6.37x | 15.36x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 23.15x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.53x |
| EV / EBITDAEnterprise value multiple | — | 14.90x |
| Price / SalesMarket cap ÷ Revenue | 116.18x | 5.34x |
| Price / BookPrice ÷ Book value/share | 3.10x | 3.28x |
| Price / FCFMarket cap ÷ FCF | — | 15.15x |
Profitability & Efficiency
GMAB delivers a 114.2% return on equity — every $100 of shareholder capital generates $114 in annual profit, vs $-49 for RLAY. GMAB carries lower financial leverage with a 0.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to RLAY's 0.06x.
| Metric | RLAYRelay Therapeutic… | GMABGenmab A/S |
|---|---|---|
| ROE (TTM)Return on equity | -48.8% | +114.2% |
| ROA (TTM)Return on assets | -44.5% | +93.6% |
| ROICReturn on invested capital | -37.3% | +22.2% |
| ROCEReturn on capital employed | -42.7% | +18.3% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 0.06x | 0.03x |
| Net DebtTotal debt minus cash | -$52M | -$8.8B |
| Cash & Equiv.Liquid assets | $84M | $9.9B |
| Total DebtShort + long-term debt | $32M | $1.0B |
| Interest CoverageEBIT ÷ Interest expense | — | 48.21x |
Total Returns (with DRIP)
A $10,000 investment in GMAB five years ago would be worth $8,383 today (with dividends reinvested), compared to $2,553 for RLAY. Over the past 12 months, RLAY leads with a +200.9% total return vs GMAB's +29.8%. The 3-year compound annual growth rate (CAGR) favors GMAB at -7.8% vs RLAY's -14.0% — a key indicator of consistent wealth creation.
| Metric | RLAYRelay Therapeutic… | GMABGenmab A/S |
|---|---|---|
| YTD ReturnYear-to-date | +25.4% | -7.5% |
| 1-Year ReturnPast 12 months | +200.9% | +29.8% |
| 3-Year ReturnCumulative with dividends | -36.5% | -21.6% |
| 5-Year ReturnCumulative with dividends | -74.5% | -16.2% |
| 10-Year ReturnCumulative with dividends | -70.7% | +138.4% |
| CAGR (3Y)Annualised 3-year return | -14.0% | -7.8% |
Risk & Volatility
GMAB is the less volatile stock with a 0.61 beta — it tends to amplify market swings less than RLAY's 1.70 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. RLAY currently trades 89.8% from its 52-week high vs GMAB's 83.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | RLAYRelay Therapeutic… | GMABGenmab A/S |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.70x | 0.61x |
| 52-Week HighHighest price in past year | $11.43 | $35.43 |
| 52-Week LowLowest price in past year | $1.78 | $17.24 |
| % of 52W HighCurrent price vs 52-week peak | +89.8% | +83.1% |
| RSI (14)Momentum oscillator 0–100 | 59.3 | 38.3 |
| Avg Volume (50D)Average daily shares traded | 1.9M | 1.5M |
Analyst Outlook
Wall Street rates RLAY as "Buy" and GMAB as "Buy". Consensus price targets imply 37.6% upside for GMAB (target: $41) vs 31.6% for RLAY (target: $14).
| Metric | RLAYRelay Therapeutic… | GMABGenmab A/S |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $13.50 | $40.50 |
| # AnalystsCovering analysts | 14 | 17 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.1% | +3.5% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jul 20 | Feb 26 | Change |
|---|---|---|---|
| Relay Therapeutics,… (RLAY) | 100 | 23.25 | -76.7% |
| Genmab A/S (GMAB) | 100 | 93.04 | -7.0% |
Genmab A/S (GMAB) returned -16% over 5 years vs Relay Therapeutics,… (RLAY)'s -74%.
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Relay Therapeutics,… (RLAY) | $0.00 | $15M | — |
| Genmab A/S (GMAB) | $1.8B | $21.5B | +1085.3% |
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Relay Therapeutics,… (RLAY) | -63.4% | -18.0% | +71.6% |
| Genmab A/S (GMAB) | 65.4% | 36.4% | -44.3% |
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Genmab A/S (GMAB) | 9.3 | 1.7 | -81.7% |
Genmab A/S has traded in a 2x–9x P/E range over 8 years; current trailing P/E is ~15x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Relay Therapeutics,… (RLAY) | -19.63 | -1.61 | +91.8% |
| Genmab A/S (GMAB) | 1.92 | 12.14 | +532.3% |
Chart 6Free Cash Flow — 5 Years
Relay Therapeutics, Inc. generated $-236M FCF in 2025 (-203% vs 2021). Genmab A/S generated $8B FCF in 2024 (+284% vs 2021).
RLAY vs GMAB: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is RLAY or GMAB a better buy right now?
Genmab A/S (GMAB) offers the better valuation at 15.4x trailing P/E (23.2x forward), making it the more compelling value choice. Analysts rate Relay Therapeutics, Inc. (RLAY) a "Buy" — based on 14 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 is the better long-term investment — RLAY or GMAB?
Over the past 5 years, Genmab A/S (GMAB) delivered a total return of -16.2%, compared to -74.5% for Relay Therapeutics, Inc. (RLAY). A $10,000 investment in GMAB five years ago would be worth approximately $8K today (assuming dividends reinvested). Over 10 years, the gap is even starker: GMAB returned +138.4% versus RLAY's -70.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — RLAY or GMAB?
By beta (market sensitivity over 5 years), Genmab A/S (GMAB) is the lower-risk stock at 0.61β versus Relay Therapeutics, Inc.'s 1.70β — meaning RLAY is approximately 178% more volatile than GMAB relative to the S&P 500. On balance sheet safety, Genmab A/S (GMAB) carries a lower debt/equity ratio of 3% versus 6% for Relay Therapeutics, Inc. — giving it more financial flexibility in a downturn.
04Which has better profit margins — RLAY or GMAB?
Genmab A/S (GMAB) is the more profitable company, earning 36.4% net margin versus -1800.6% for Relay Therapeutics, Inc. — meaning it keeps 36.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: GMAB leads at 31.1% versus -1971.6% for RLAY. At the gross margin level — before operating expenses — GMAB leads at 95.4%, 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.
05Is RLAY or GMAB more undervalued right now?
Analyst consensus price targets imply the most upside for GMAB: 37.6% to $40.50.
06Which pays a better dividend — RLAY or GMAB?
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.
07Is RLAY or GMAB better for a retirement portfolio?
For long-horizon retirement investors, Genmab A/S (GMAB) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.61), +138.4% 10Y return). Relay Therapeutics, Inc. (RLAY) carries a higher beta of 1.70 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (GMAB: +138.4%, RLAY: -70.7%), 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.
08What are the main differences between RLAY and GMAB?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: RLAY is a small-cap quality compounder stock; GMAB is a mid-cap deep-value stock. 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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