22 years of historical data (2004–2025) · Healthcare · Biotechnology
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Galapagos N.V. trades at 5.9x earnings, 62% below its 5-year average of 15.6x, sitting at the 0th percentile of its historical range. Compared to the Healthcare sector median P/E of 23.7x, the stock trades at a discount of 75%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.2B | $2.2B | $1.8B | $2.7B | $2.9B | $3.6B | $6.4B | $11.9B | $4.8B | $4.6B | $2.9B |
| Enterprise Value | $2.1B | $2.1B | $1.8B | $2.5B | $2.4B | $1.4B | $4.3B | $10.1B | $3.5B | $3.5B | $2.0B |
| P/E Ratio → | 5.88 | 6.74 | 24.55 | — | — | — | — | 79.55 | — | — | 56.31 |
| P/S Ratio | 1.69 | 1.94 | 6.60 | 11.18 | 12.09 | 7.45 | 13.47 | 14.27 | 16.55 | 36.50 | 22.65 |
| P/B Ratio | 0.58 | 0.67 | 0.63 | 0.96 | 1.15 | 1.37 | 2.41 | 4.14 | 3.94 | 4.58 | 3.87 |
| P/FCF | — | — | — | — | — | — | — | 3.34 | — | — | 12.50 |
| P/OCF | — | — | — | — | — | — | — | 3.31 | — | — | 12.25 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Galapagos N.V.'s enterprise value stands at 3.7x EBITDA, 13% below its 5-year average of 4.3x. The Healthcare sector median is 13.8x, placing the stock at a 73% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.87 | 6.41 | 10.52 | 10.07 | 2.90 | 9.07 | 12.07 | 12.08 | 27.45 | 15.13 |
| EV / EBITDA | 3.72 | 4.29 | — | — | — | — | — | 26.93 | — | — | — |
| EV / EBIT | 4.00 | 3.97 | — | 341.17 | — | — | — | 27.34 | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | 2.82 | — | — | 8.35 |
Margins and return-on-capital ratios measuring operating efficiency
Galapagos N.V. earns an operating margin of 40.6%. Operating margins have expanded from -36.8% to 40.6% over the past 3 years, signaling improving operational efficiency. ROE of 10.5% is modest. ROIC of 11.3% represents solid returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.0% | 56.0% | 87.4% | 100.0% | 100.0% | 99.7% | -9.5% | 49.7% | -11.8% | -71.9% | -7.8% |
| Operating Margin | 40.6% | 40.6% | -68.3% | -36.8% | -54.3% | -34.2% | -37.4% | 44.2% | -15.5% | -70.7% | -8.9% |
| Net Profit Margin | 28.9% | 28.9% | 26.9% | 88.3% | -90.4% | -25.9% | -63.9% | 17.9% | -10.1% | -91.0% | 41.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.5% | 10.5% | 2.6% | 8.0% | -8.4% | -4.7% | -11.0% | 7.3% | -2.6% | -13.1% | 9.6% |
| ROA | 8.5% | 8.5% | 1.7% | 4.7% | -4.4% | -2.3% | -5.2% | 4.0% | -2.1% | -9.8% | 7.1% |
| ROIC | 11.3% | 11.3% | -5.2% | -2.8% | -7.9% | -24.8% | -16.7% | 57.4% | — | — | — |
| ROCE | 12.8% | 12.8% | -4.9% | -2.2% | -3.0% | -3.4% | -3.4% | 11.0% | -3.8% | -8.6% | -1.7% |
Solvency and debt-coverage ratios — lower is generally safer
Galapagos N.V. carries a Debt/EBITDA ratio of 0.0x, which is very conservative (99% below the sector average of 3.1x). The company holds a net cash position — cash of $88M exceeds total debt of $12M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 164.0x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | — | 0.00 | 0.00 |
| Debt / EBITDA | 0.02 | 0.02 | — | — | — | — | — | 0.07 | — | — | — |
| Net Debt / Equity | — | -0.02 | -0.02 | -0.06 | -0.19 | -0.83 | -0.79 | -0.64 | -1.06 | -1.14 | -1.28 |
| Net Debt / EBITDA | -0.16 | -0.16 | — | — | — | — | — | -4.91 | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | -0.51 | — | — | -4.15 |
| Interest Coverage | 164.04 | 164.04 | -206.74 | -53.36 | -14.32 | -14.29 | -15.42 | 199.92 | -57.44 | -95.94 | -244.49 |
Net cash position: cash ($88M) exceeds total debt ($12M)
Short-term solvency ratios and asset-utilisation metrics
Galapagos N.V.'s current ratio of 20.15x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 9.02x to 20.15x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 20.15 | 20.15 | 9.97 | 9.02 | 8.11 | 8.58 | 8.45 | 10.26 | 6.04 | 6.98 | 9.70 |
| Quick Ratio | 20.15 | 20.15 | 9.81 | 8.84 | 8.01 | 8.55 | 8.45 | 10.26 | 6.04 | 6.97 | 9.70 |
| Cash Ratio | 19.61 | 19.61 | 9.30 | 8.60 | 7.83 | 8.30 | 8.12 | 10.11 | 5.87 | 6.70 | 9.38 |
| Asset Turnover | — | 0.33 | 0.07 | 0.06 | 0.05 | 0.09 | 0.08 | 0.14 | 0.20 | 0.10 | 0.12 |
| Inventory Turnover | — | — | 0.68 | — | — | 0.08 | 1475.12 | 1647.41 | 1169.84 | 783.16 | 465.25 |
| Days Sales Outstanding | — | 17.03 | 62.87 | 99.97 | 117.02 | 96.81 | 132.39 | 35.02 | 42.38 | 120.02 | 66.16 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Galapagos N.V. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 17.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 17.0% | 14.8% | 4.1% | — | — | — | — | 1.3% | — | — | 1.8% |
| FCF Yield | — | — | — | — | — | — | — | 30.0% | — | — | 8.0% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $66M | $66M | $66M | $66M | $66M | $65M | $58M | $52M | $49M | $46M |
Compare GLPG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| GLPGYou | $2B | 5.9 | 3.7 | — | 56.0% | 40.6% | 10.5% | 11.3% | 0.0 |
| ARGX | $47B | 60.0 | — | — | 89.6% | -1.0% | 17.4% | -0.5% | — |
| CANF | $14B | -4.4 | — | — | 100.0% | -1206.2% | -134.9% | -448.3% | — |
| AKTX | $13B | -0.0 | — | — | — | — | -179.9% | -172.5% | — |
| ABVX | $10B | -36.7 | — | — | 100.0% | -1602.9% | -149.0% | — | — |
| RAPT | $8B | -2.3 | — | — | — | — | -77.1% | -155.7% | — |
| KYMR | $7B | -24.8 | — | — | 100.0% | -891.3% | -25.8% | -24.9% | — |
| PTGX | $6B | -44.9 | — | 99.9 | — | — | -20.2% | -21.8% | — |
| IMVT | $6B | -10.2 | — | — | — | — | -62.5% | — | — |
| TGTX | $5B | 200.6 | 114.4 | — | 88.3% | 12.7% | 12.2% | 13.3% | 6.0 |
| APGE | $4B | -21.2 | — | — | — | — | -33.2% | -38.3% | — |
| Healthcare Median | — | 23.7 | 13.8 | 18.8 | 65.8% | -6.3% | -37.3% | -15.0% | 3.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 22 years · Updated daily
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Start ComparisonGalapagos N.V.'s current P/E ratio is 5.9x. The historical average is 36.8x.
Galapagos N.V.'s current EV/EBITDA is 3.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.6x.
Galapagos N.V.'s return on equity (ROE) is 10.5%. The historical average is -7.2%.
Based on historical data, Galapagos N.V. is trading at a P/E of 5.9x. Compare with industry peers and growth rates for a complete picture.
Galapagos N.V. has 56.0% gross margin and 40.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Galapagos N.V.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.