argenx SE (ARGX) quarterly cash flow statement — complete operating, investing & financing history
argenx SE (ARGX) cash flow statement — 15-year operating, investing & financing cash flows
| Metric | Q2'26 | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q2'22 | Q4'21 | Q2'21 | Q4'20 | Q2'20 | Q4'19 | Q2'19 | Q4'18 | Q2'18 | Q4'17 | Q2'17 | Q4'16 |
|---|
| Cash from Operations | 751.74M | 407.8M | 437.85M | 41.91M | -124.66M | -134.89M | -258.5M | -360.62M | -490.53M | -379.43M | -223.19M | -203.21M | -128.41M | -91.67M | 228.5M | -23.93M | -27.42M | -22.02M | -14.7M | -12.74M |
| Operating CF Margin % | 26.7% | 12.72% | 46.19% | 3.11% | -13.82% | -17.8% | -50.6% | -115.33% | -440.51% | -1415.35% | -44.76% | -1310.36% | -421.33% | -296.58% | 445.11% | -327.49% | -133.04% | -156.93% | -61.44% | -131.3% |
| Operating CF Growth % | 71.69% | 873.05% | 451.25% | 131.07% | 51.78% | 62.59% | 47.3% | 4.96% | -119.79% | -86.72% | -73.81% | -121.68% | -156.19% | -283.12% | 933.25% | -8.64% | -86.56% | -72.92% | -165.42% | -64.2% |
| Net Income | 838.82M | 635.66M | 418.15M | 865.57M | -32.48M | -155.63M | -123.44M | -274.14M | -435.94M | -471.43M | 63.05M | -255.16M | -201.24M | -103.79M | -45.15M | -44.63M | -20.91M | -23.51M | -7.19M | -13.36M |
| Depreciation & Amortization | 17.02M | 14.8M | 13.37M | 8.9M | 8.61M | 108.6M | 2.7M | 101.28M | 3.06M | 2.9M | 2.96M | 1.81M | 1.52M | 1.09M | 927.68K | 263.1K | 189.47K | 187.96K | 207.34K | 175.33K |
| Stock-Based Compensation | 0 | 0 | 110.79M | 128.19M | 103M | 130.89M | 93.55M | 75.08M | 76.63M | 87.31M | 92.06M | 38.41M | 35.05M | 27.13M | 15.14M | 12.23M | 8.87M | 15.83M | 1.88M | 2.05M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 192.19M | 49.65M | 135.54M | -566.89M | -26.14M | 669K | -82.63M | -33.19M | -10.06M | 9.01M | -252.02M | 36.66M | 28.34M | 6.29M | 264.88M | -11.76M | -7.22M | -16.17M | -6.7M | -1.17M |
| Working Capital Changes | -296.29M | -292.32M | -129.21M | -393.87M | -177.64M | -219.43M | -148.68M | -229.65M | -124.23M | -7.22M | -129.23M | -24.93M | 7.94M | -22.39M | -7.28M | 19.97M | -8.36M | 1.63M | -2.91M | -427.25K |
| Change in Receivables | -377.37M | -437.72M | -362.51M | -325.5M | -97.61M | -106.56M | -62.37M | -141.12M | -67.92M | -27.53M | -3.46M | 1.77M | 17.16M | -20.07M | -157.53K | 7.4M | -6.34M | 2.23M | -2.3M | 146.43K |
| Change in Inventory | 60.06M | -133.98M | 35.28M | -79.92M | -16.07M | -99.88M | 24.96M | -86.52M | -25.42M | -49.86M | -28.69M | -12.27M | -4.87M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 251.25M | 248.31M | 362.42M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14.65M | 0 | 0 | 0 | 0 |
| Cash from Investing | -758.75M | 829.5M | -10.31M | -203.84M | -513.76M | -218.81M | 500.47M | -241.64M | -232.34M | 144.06M | -492.82M | 34.05M | 264.37M | -210.8M | -523.64M | -75.25M | -30.59M | -77.74M | -87.73M | -216.63K |
| Capital Expenditures | -8.01M | -61.95M | -49.44M | -990K | -22.28M | -302K | -480K | -611K | -175K | -1.23M | -2.01M | -267.74K | -1.48M | -815.59K | -596.67K | -276.08K | -251.47K | -16.23K | -285.91K | -202.01K |
| CapEx % of Revenue | 0.28% | 1.93% | 5.22% | 0.07% | 2.47% | 0.04% | 0.09% | 0.2% | 0.16% | 4.6% | 0.4% | 1.73% | 4.85% | 2.64% | 1.16% | 3.78% | 1.22% | 0.12% | 1.2% | 2.08% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -84.08M | -1 | 67.51M | -202.84M | 47.67M | 22.8M | 500.95M | -241.03M | -232.17M | 145.3M | -490.8M | 34.32M | 265.85M | -209.99M | -523.05M | -74.98M | -30.33M | -77.72M | -87.44M | -14.62K |
| Cash from Financing | 104.1M | 158.32M | 74.08M | 239.69M | 40.07M | 1.27B | 62.29M | 40.07M | 808.28M | 17.2M | 1.1B | 24.7M | 718.86M | 465.93M | 178.26M | 234.11M | 1.75M | 219.67M | 89.46M | -644.16K |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | -3.36M | 0 | -2M | 0 | -2.22M | 0 | -1.52M | 0 | -919.57K | 0 | -471.7K | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 119.12M | 198M | 79.65M | -20.08M | -1.79M | 1.29B | -604K | 47.89M | 806.97M | 19.24M | 1.1B | 25.85M | 719.83M | 466.72M | 178.79M | 232.8M | 1.75M | 219.67M | 89.46M | -644.16K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -20.08M | -1.79M | 0 | -604K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -15.01M | -39.68M | -5.57M | 259.76M | 45.23M | -16.54M | 64.89M | -7.82M | 3.53M | -2.04M | 2.82M | -1.15M | -54.31K | -789.18K | -61.34K | 1.31M | -124 | -59 | 55 | 0 |
| Net Change in Cash | 92.71M | 1.41B | 586.04M | 61.69M | -610.6M | 938.28M | 263.67M | -520.39M | -40.44M | -174.16M | 234.8M | -1.88M | 868.52M | 157.53M | -114.58M | 137.24M | -55.79M | 197.55M | 77.25M | -97.12M |
| Free Cash Flow | 748.74M | 406.9M | 432.61M | 40.92M | -125.47M | -135.22M | -258.98M | -344.56M | -472.19M | -336.48M | -191.79M | -166.34M | -119.07M | -83.39M | 200.35M | -22.24M | -24.01M | -18.15M | -13.72M | -11.53M |
| FCF Margin % | 26.59% | 12.69% | 45.64% | 3.04% | -13.91% | -17.85% | -50.69% | -110.19% | -424.04% | -1255.15% | -38.46% | -1072.59% | -390.7% | -269.8% | 390.27% | -304.39% | -116.48% | -129.33% | -57.36% | -118.87% |
| FCF Growth % | 73.08% | 894.39% | 444.8% | 130.26% | 51.55% | 60.75% | 45.15% | -2.4% | -146.2% | -102.29% | -61.07% | -99.47% | -159.43% | -274.98% | 934.46% | -22.54% | -74.94% | -57.4% | -169.79% | -47.44% |
| FCF per Share | 11.62 | 6.15 | 6.59 | 0.58 | -2.11 | -2.32 | -4.65 | -6.23 | -8.83 | -6.53 | -3.55 | -3.51 | -2.74 | -2.11 | 5.31 | -0.65 | -0.74 | -0.66 | -0.63 | -0.57 |
| FCF Conversion (FCF/Net Income) | 0.90x | 0.39x | 1.78x | 0.05x | 3.83x | 0.87x | 2.29x | 1.41x | 1.18x | 0.92x | -4.19x | 0.80x | 0.72x | 0.88x | -5.75x | 0.61x | 1.59x | 1.30x | 1.07x | 0.95x |
| Interest Paid | 0 | 0 | 0 | 226.84K | 146.56K | 120.47K | 71.48K | 323.13K | 482.02K | 231.95K | 354.14K | 200.56K | 138.82K | 77K | 47K | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |