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Agenus Inc. (AGEN) 10-Year Financial Performance & Capital Metrics

AGEN • • Industrial / General
HealthcareBiotechnologyOncology TherapeuticsImmuno-Oncology
AboutAgenus Inc., a clinical-stage immuno-oncology company, discovers and develops immuno-oncology products in the United States and internationally. The company offers Retrocyte Display, an antibody expression platform for the identification of fully human and humanized monoclonal antibodies; and display technologies. It develops vaccine programs comprising Prophage vaccine candidate; and QS-21 Stimulon adjuvant, a saponin-based vaccine adjuvant. The company also develops Balstilimab, an anti-PD-1 antagonist that has completed Phase II clinical trial to treat second line cervical cancer; AGEN1181, an anti-CTLA-4 monospecific antibody that is in Phase 1/2 clinical trial; AGEN2373, an anti-CD137 monospecific antibody that is in Phase 1 clinical trial; AGEN1423, a tumor microenvironment conditioning anti-CD73/TGFß TRAP bi-functional antibody that has completed Phase 1 clinical trial; AGEN1777, an anti-TIGIT bispecific antibodies; and AGEN1327, a human monoclonal antibody. In addition, the company develops INCAGN1876, an anti-GITR monospecific antibody; INCAGN1949, an anti-OX40 monospecific antibody; INCAGN2390, an anti-TIM-3 monospecific antibody; INCAGN2385, an anti-LAG-3 monospecific antibody; MK-4830, a monospecific antibody targeting ILT4; AGENT 797, an iNKT cells that is in Phase 1 clinical trial for solid tumors, multiple myeloma, and viral ARDS, as well as in clinical stage to treat hematological malignancies and multiple myeloma/B cells; and AGEN1884, a first-generation anti-CTLA-4 monospecific antibody. Agenus Inc. operates under ASV, Agenus, AutoSynVax, EVAMPLIX, MiNK, PSV, PhosPhoSynVax, Prophage, Retrocyte Display, and Stimulon trademarks. It has collaborations with Incyte Corporation, Merck Sharpe & Dohme, Recepta Biopharma SA, and Gilead Sciences, Inc. The company was formerly known as Antigenics Inc. and changed its name to Agenus Inc. in January 2011. Agenus Inc. was founded in 1994 and is headquartered in Lexington, Massachusetts.Show more
  • Revenue $103M -33.8%
  • EBITDA -$107M +26.6%
  • Net Income -$227M +7.5%
  • EPS (Diluted) -10.59 +23.0%
  • Gross Margin -50.79% +2.4%
  • EBITDA Margin -103.55% -10.9%
  • Operating Margin -116.44% -14.1%
  • Net Margin -219.61% -39.7%
  • ROE -
  • ROIC -
  • Debt/Equity -
  • Interest Coverage -1.02 +37.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

  • ✗Weak Piotroski F-Score: 2/9
  • ✗Negative free cash flow
  • ✗Sales declining 7.2% over 5 years
  • ✗Shares diluted 20.0% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y30.95%
5Y-7.17%
3Y-29.53%
TTM-33.41%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM84.55%

EPS CAGR

10Y-
5Y-
3Y-
TTM80.97%

ROCE

10Y Avg-128.03%
5Y Avg-149.87%
3Y Avg-187.77%
Latest-383.15%

Peer Comparison

Immuno-Oncology
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CTMXCytomX Therapeutics, Inc.720.1M4.2511.1836.45%24.66%26.09%
IOVAIovance Biotherapeutics, Inc.881.27M2.22-1.73136.99%-158.78%-56.62%0.08
REPLReplimune Group, Inc.572.64M7.30-2.38-117.82%0.18
NKTRNektar Therapeutics719.28M35.36-4.079.22%-192.87%-141.9%1.69
IMNMImmunome, Inc.2.52B22.85-4.57-35.5%-23.01%-84.4%0.03
IBRXImmunityBio, Inc.3.89B3.95-6.3722.71%-422.28%
NRIXNurix Therapeutics, Inc.1.91B18.86-6.55-29.15%-292.5%-65.76%0.05

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+24.82M22.57M42.88M36.78M150.05M88.17M295.67M98.02M156.31M103.46M
Revenue Growth %2.56%-0.09%0.9%-0.14%3.08%-0.41%2.35%-0.67%0.59%-0.34%
Cost of Goods Sold+70.44M94.97M116.13M124.6M168.34M144.97M182.08M197.26M237.68M156.01M
COGS % of Revenue2.84%4.21%2.71%3.39%1.12%1.64%0.62%2.01%1.52%1.51%
Gross Profit+-45.63M-72.4M-73.25M-87.82M-18.29M-56.8M113.59M-99.23M-81.37M-52.55M
Gross Margin %-1.84%-3.21%-1.71%-2.39%-0.12%-0.64%0.38%-1.01%-0.52%-0.51%
Gross Profit Growth %-1.97%-0.59%-0.01%-0.2%0.79%-2.11%3%-1.87%0.18%0.35%
Operating Expenses+28.37M33.13M33.74M37.34M51.85M60.44M87.84M80.19M78.18M67.92M
OpEx % of Revenue1.14%1.47%0.79%1.02%0.35%0.69%0.3%0.82%0.5%0.66%
Selling, General & Admin28.37M33.13M33.74M37.34M46.04M59.22M76.36M81.01M78.74M71.88M
SG&A % of Revenue1.14%1.47%0.79%1.02%0.31%0.67%0.26%0.83%0.5%0.69%
Research & Development70.44M94.97M116.13M124.6M168.34M142.62M178.61M0234.57M155.53M
R&D % of Revenue2.84%4.21%2.71%3.39%1.12%1.62%0.6%-1.5%1.5%
Other Operating Expenses-7.18M-19.52M-16.89M-2.18M-162.53M-141.4M-167.13M-815K-235.13M-159.48M
Operating Income+-80.7M-107.48M-103.8M-123.82M-70.14M-117.23M25.75M-179.43M-159.55M-120.47M
Operating Margin %-3.25%-4.76%-2.42%-3.37%-0.47%-1.33%0.09%-1.83%-1.02%-1.16%
Operating Income Growth %-0.86%-0.33%0.03%-0.19%0.43%-0.67%1.22%-7.97%0.11%0.24%
EBITDA+-66.5M-102.53M-97.79M-117.53M-63.48M-110.06M32.53M-172.48M-145.96M-107.13M
EBITDA Margin %-2.68%-4.54%-2.28%-3.2%-0.42%-1.25%0.11%-1.76%-0.93%-1.04%
EBITDA Growth %-0.59%-0.54%0.05%-0.2%0.46%-0.73%1.3%-6.3%0.15%0.27%
D&A (Non-Cash Add-back)14.2M4.95M6.01M6.29M6.66M7.18M6.79M6.95M13.59M13.34M
EBIT-86.67M-109.68M-101.82M-136.77M-70.11M-121.81M36.99M-168.79M-159.51M-114.64M
Net Interest Income+-6.6M-17.32M-18.87M-25.27M-41.45M-61.08M-65.72M-61.86M-97.92M-117.63M
Interest Income0000000000
Interest Expense6.6M17.32M18.87M25.27M41.45M61.08M65.72M61.86M97.92M117.63M
Other Income/Expense-12.57M-19.52M-16.89M-38.22M-41.42M-65.66M-54.47M-51.23M-97.89M-111.8M
Pretax Income+-87.88M-127M-120.69M-162.04M-111.56M-182.89M-28.72M-230.66M-257.44M-232.27M
Pretax Margin %-3.54%-5.63%-2.81%-4.41%-0.74%-2.07%-0.1%-2.35%-1.65%-2.24%
Income Tax+-5.39M-2.99M0-12.95M000000
Effective Tax Rate %1%1%1%0.99%0.97%0.99%0.83%0.95%0.95%0.98%
Net Income+-87.88M-127M-120.69M-159.69M-107.66M-180.91M-23.93M-220.07M-245.76M-227.21M
Net Margin %-3.54%-5.63%-2.81%-4.34%-0.72%-2.05%-0.08%-2.25%-1.57%-2.2%
Net Income Growth %-1.07%-0.45%0.05%-0.32%0.33%-0.68%0.87%-8.2%-0.12%0.08%
Net Income (Continuing)-87.88M-127M-120.69M-162.04M-111.56M-182.89M-28.72M-230.66M-257.44M-232.27M
Discontinued Operations0000000000
Minority Interest000-2.08M-5.98M-7.83M13.47M6.38M11.95M19.96M
EPS (Diluted)+-22.47-29.17-24.53-28.83-22.10-21.00-2.11-15.64-13.75-10.59
EPS Growth %-0.58%-0.3%0.16%-0.18%0.23%0.05%0.9%-6.41%0.12%0.23%
EPS (Basic)-22.47-29.17-24.53-28.83-22.10-21.00-2.11-15.64-13.75-10.59
Diluted Shares Outstanding3.91M4.35M4.92M5.54M6.75M8.63M11.45M14.09M17.89M21.47M
Basic Shares Outstanding3.91M4.35M4.92M5.54M6.75M8.63M11.45M14.09M17.89M21.47M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+184.1M91.31M73.55M74.81M86.54M113.78M331.97M213.12M112.42M45.57M
Cash & Short-Term Investments171.67M76.44M60.19M53.05M61.81M99.87M306.92M193.36M76.11M40.44M
Cash Only171.67M76.44M60.19M53.05M61.81M99.87M291.93M178.67M76.11M40.44M
Short-Term Investments00000014.99M14.68M00
Accounts Receivable9.8M11.35M1.13M938.14K16.29M1.16M1.52M2.74M25.84M407K
Days Sales Outstanding144.14183.569.669.3139.634.791.8710.2160.331.44
Inventory88.2K88.2K79.49K55.49K7.42M020.36M13.83M00
Days Inventory Outstanding0.460.340.250.1616.09-40.8225.59--
Other Current Assets582.28K838.54K1.08M1.5M-6.41M2.01M-17.19M-10.63M2.37M2.42M
Total Non-Current Assets+58.13M65.67M82.2M61.59M68.8M100.73M133.98M200.43M201.5M180.7M
Property, Plant & Equipment15.31M25.63M26.18M25.12M33.69M60.27M91.08M164.29M163.03M147.4M
Fixed Asset Turnover1.62x0.88x1.64x1.46x4.45x1.46x3.25x0.60x0.96x0.70x
Goodwill22.79M22.39M23.05M22.92M23.19M25.45M24.88M25.47M24.72M24.09M
Intangible Assets18.76M16.36M31.76M12.34M10.5M10.89M8.49M6.23M4.41M3.38M
Long-Term Investments000000003.22M0
Other Non-Current Assets1.27M1.28M1.21M1.21M1.42M4.12M12.21M7.12M6.11M5.83M
Total Assets+242.23M156.99M138.4M136.4M155.34M214.51M465.96M413.56M313.91M226.27M
Asset Turnover0.10x0.14x0.31x0.27x0.97x0.41x0.63x0.24x0.50x0.46x
Asset Growth %2.25%-0.35%-0.12%-0.01%0.14%0.38%1.17%-0.11%-0.24%-0.28%
Total Current Liabilities+28.93M40.85M56.44M68.06M122.21M129.88M156.94M188.95M255.9M221.4M
Accounts Payable4.49M5.43M8.09M13.62M13.56M17.02M30.49M40.94M61.45M61.47M
Days Payables Outstanding23.2620.8625.4239.9129.4142.8461.1175.7594.36143.81
Short-Term Debt146.06K146.06K20.64M146K646K833K728K575K146K2.7M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K18K31K
Other Current Liabilities15.87M6.38M3.22M43.71M48.15M69.88M75.66M101.49M141.21M121.85M
Current Ratio6.36x2.24x1.30x1.10x0.71x0.88x2.12x1.13x0.44x0.21x
Quick Ratio6.36x2.23x1.30x1.10x0.65x0.88x1.99x1.05x0.44x0.21x
Cash Conversion Cycle121.34163.04-15.51-30.4426.31--18.42-39.96--
Total Non-Current Liabilities+142.57M155.26M157.78M242.88M264.46M296.13M261.11M279.51M206.4M311.29M
Long-Term Debt114.33M130.54M142.39M13.21B13.38M18.88M12.82M12.58M12.77M30.47M
Capital Lease Obligations000-13.2B8.02M34.06M42.11M63.33M67.23M54.55M
Deferred Tax Liabilities000182.82M26.92M00000
Other Non-Current Liabilities13.17M12.37M7.65M-13.15B188.44M214.9M194.97M202.45M125.26M225.13M
Total Liabilities171.5M196.11M214.22M310.95M386.67M426.01M418.05M468.46M462.3M532.7M
Total Debt+114.47M130.69M163.02M13.36M23.39M55.73M58.29M78.43M93.19M94.87M
Net Debt-57.2M54.25M102.84M-39.7M-38.41M-44.14M-233.64M-100.25M17.08M54.43M
Debt / Equity1.62x-----1.22x---
Debt / EBITDA------1.79x---
Net Debt / EBITDA-------7.18x---
Interest Coverage-12.23x-6.21x-5.50x-4.90x-1.69x-1.92x0.39x-2.90x-1.63x-1.02x
Total Equity+70.73M-39.13M-75.82M-174.55M-231.34M-211.5M47.91M-54.9M-148.38M-306.42M
Equity Growth %2.07%-1.55%-0.94%-1.3%-0.33%0.09%1.23%-2.15%-1.7%-1.07%
Book Value per Share18.09-8.99-15.41-31.51-34.28-24.524.19-3.90-8.29-14.27
Total Shareholders' Equity70.73M-39.13M-75.82M-172.47M-225.36M-203.67M34.44M-61.28M-160.33M-326.38M
Common Stock863.91K877.95K1.02M1.2M1.38M1.96M2.57M3.06M3.94M236K
Retained Earnings-779.19M-905.33M-1.03B-1.18B-1.28B-1.47B-1.49B-1.71B-1.96B-2.18B
Treasury Stock0000000000
Accumulated OCI-2.05M-1.53M-2.17M-1.54M-1.32M2.77M1.49M915K-955K-1.4M
Minority Interest000-2.08M-5.98M-7.83M13.47M6.38M11.95M19.96M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-47.18M-79.96M-94.23M-131.09M-18.68M-139.1M10.14M-175.37M-224.2M-158.31M
Operating CF Margin %-1.9%-3.54%-2.2%-3.56%-0.12%-1.58%0.03%-1.79%-1.43%-1.53%
Operating CF Growth %-0.23%-0.69%-0.18%-0.39%0.86%-6.45%1.07%-18.29%-0.28%0.29%
Net Income-87.88M-127M-120.69M-162.04M-111.56M-182.89M-28.72M-230.66M-257.44M-232.27M
Depreciation & Amortization14.2M4.95M6.01M6.29M6.66M7.18M6.79M6.95M13.59M13.34M
Stock-Based Compensation7.44M13.19M12.43M7.63M9.89M10.42M19.58M18.34M22.87M17.39M
Deferred Taxes-5.39M14.73K23.56K10.91M58K00000
Other Non-Cash Items17.83M18.48M14.49M5.95M17.58M17.25M22.25M5.92M-13.98M10.62M
Working Capital Changes6.63M10.4M-6.48M170.05K58.68M8.95M-9.74M24.08M10.76M32.6M
Change in Receivables-9.33M-1.55M10.22M196.35K-15.36M16.19M-394K122K-23.46M25.34M
Change in Inventory7.5K17.63M8.71K24K55K00000
Change in Payables2.67M419.71K1.65M5.37M-234K2.77M10.82M6.49M21.37M2.01M
Cash from Investing+-31.23M17.6M2.06M-3.59M-4.66M-4.44M-43.15M-33.61M3.4M27K
Capital Expenditures-3.59M-12.52M-3.12M-3.6M-4.66M-3.47M-33.81M-53.06M-9.95M-576K
CapEx % of Revenue0.14%0.55%0.07%0.1%0.03%0.04%0.11%0.54%0.06%0.01%
Acquisitions----------
Investments----------
Other Investing-20.46M30.12M120K6.19K005.66M22M3.36M24K
Cash from Financing+189.58M-2.46M80.54M128.28M31.32M183.85M225.26M95.83M119.87M122.84M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing-27.98M-3.82M775204.39M1.64M4.47M7.59M898K807K74.5M
Net Change in Cash----------
Free Cash Flow+-50.77M-92.48M-97.35M-134.69M-23.34M-142.56M-23.67M-228.44M-234.16M-158.89M
FCF Margin %-2.05%-4.1%-2.27%-3.66%-0.16%-1.62%-0.08%-2.33%-1.5%-1.54%
FCF Growth %-0.24%-0.82%-0.05%-0.38%0.83%-5.11%0.83%-8.65%-0.03%0.32%
FCF per Share-12.98-21.24-19.78-24.32-3.46-16.53-2.07-16.22-13.09-7.40
FCF Conversion (FCF/Net Income)0.54x0.63x0.78x0.82x0.17x0.77x-0.42x0.80x0.91x0.70x
Interest Paid000001.18M1.15M1.14M3.17M2.28M
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-187.49%-803.72%-----49.94%---
Return on Invested Capital (ROIC)-5144.37%-562.55%-369.42%-------
Gross Margin-183.85%-320.73%-170.83%-238.74%-12.19%-64.42%38.42%-101.24%-52.05%-50.79%
Net Margin-354.12%-562.6%-281.48%-434.14%-71.75%-205.19%-8.09%-224.51%-157.22%-219.61%
Debt / Equity1.62x-----1.22x---
Interest Coverage-12.23x-6.21x-5.50x-4.90x-1.69x-1.92x0.39x-2.90x-1.63x-1.02x
FCF Conversion0.54x0.63x0.78x0.82x0.17x0.77x-0.42x0.80x0.91x0.70x
Revenue Growth255.7%-9.04%89.95%-14.21%307.92%-41.24%235.34%-66.85%59.47%-33.81%

Revenue by Segment

2015201620172018201920202021202220232024
Non Cash Royalty Revenue--------114.57M100.98M
Non Cash Royalty Revenue Growth----------11.87%
Other---------2M
Other Growth----------
License Fee Revenue--------25M-
License Fee Revenue Growth----------
Non Cash Royalty Revenue Related To The Sale Of Future Royalties And Milestone----30.42M47.55M-45.28M--
Non Cash Royalty Revenue Related To The Sale Of Future Royalties And Milestone Growth-----56.27%----
Research And Development Revenue---900K99.84M700K1.2M1.6M--
Research And Development Revenue Growth----10993.89%-99.30%71.43%33.33%--
Revenue-----4.62M6.7M---
Revenue Growth------45.14%---
Product And Service Other----4.68M91K184K---
Product And Service Other Growth------98.06%102.20%---
License And Service---15.5M3.7M-----
License And Service Growth-----76.13%-----
Research And Development Services---4.2M1.7M-----
Research And Development Services Growth-----59.52%-----

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES-20.33M38.88M32.78M149.36M83.55M288.96M9.54M114.57M101.46M
UNITED STATES Growth--91.24%-15.69%355.58%-44.06%245.85%-96.70%1101.34%-11.44%
Non-US---------2M
Non-US Growth----------
Non Us-----4.62M6.7M---
Non Us Growth------45.14%---
Europe1.15M2.24M3.99M4M690K-----
Europe Growth-95.13%78.14%0.15%-82.75%-----
U S23.67M---------
U S Growth----------

Frequently Asked Questions

Growth & Financials

Agenus Inc. (AGEN) reported $106.8M in revenue for fiscal year 2024. This represents a 3777% increase from $2.8M in 2011.

Agenus Inc. (AGEN) saw revenue decline by 33.8% over the past year.

Agenus Inc. (AGEN) reported a net loss of $35.2M for fiscal year 2024.

Dividend & Returns

Agenus Inc. (AGEN) had negative free cash flow of $89.3M in fiscal year 2024, likely due to heavy capital investments.

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