Genmab A/S (GMAB) Financial Ratios
23 years of historical data (2002–2024) · Healthcare · Biotechnology
EV/EBITDA
↓
13.94
↑+427% vs avg
5yr avg: 2.65
30Y Low0.7·High23.0
P/FCF
↓
14.24
↑+136% vs avg
5yr avg: 6.03
30Y Low1.8·High58.6
P/B Ratio
↓
3.09
↑+233% vs avg
5yr avg: 0.93
30Y Low0.4·High3.1
ROE
↓
23.0%
↓+12% vs avg
5yr avg: 20.6%
30Y Low-112%·High29%
Debt/EBITDA
↑
0.14
↑+30% vs avg
5yr avg: 0.11
30Y Low0.0·High0.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GMAB Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Genmab A/S trades at 14.4x earnings, 176% above its 5-year average of 5.2x, sitting at the 92nd percentile of its historical range. Compared to the Healthcare sector median P/E of 22.2x, the stock trades at a discount of 35%. On a free-cash-flow basis, the stock trades at 14.2x P/FCF, 136% above the 5-year average of 6.0x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $17.0B | $13.5B | $21.0B | $28.0B | $26.1B | $26.8B | $14.2B | $10.2B | $10.3B | $10.2B | $8.1B |
| Enterprise Value | $15.6B | $4.7B | $6.9B | $18.7B | $17.6B | $19.8B | $10.8B | $9.7B | $8.9B | $9.9B | $7.3B |
| P/E Ratio → | 14.44 | 1.72 | 4.82 | 5.13 | 8.83 | 5.63 | 6.57 | 6.95 | 9.31 | 8.64 | 10.63 |
| P/S Ratio | 5.02 | 0.63 | 1.27 | 1.93 | 3.10 | 2.65 | 2.65 | 3.38 | 4.35 | 5.64 | 7.19 |
| P/B Ratio | 3.09 | 0.37 | 0.66 | 1.03 | 1.18 | 1.40 | 1.01 | 1.28 | 1.64 | 2.12 | 2.34 |
| P/FCF | 14.24 | 1.78 | 3.00 | 7.78 | 13.22 | 4.37 | 11.70 | 19.03 | 6.86 | 34.76 | 46.26 |
| P/OCF | 13.90 | 1.74 | 2.84 | 7.15 | 11.73 | 4.16 | 10.72 | 10.08 | 6.48 | 31.25 | 26.15 |
P/E links to full P/E history page with 30-year chart
GMAB EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Genmab A/S's enterprise value stands at 13.9x EBITDA, 427% above its 5-year average of 2.6x. This is roughly in line with the Healthcare sector median of 14.0x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.22 | 0.42 | 1.29 | 2.09 | 1.96 | 2.02 | 3.20 | 3.78 | 5.47 | 6.42 |
| EV / EBITDA | 13.94 | 0.65 | 1.24 | 2.82 | 5.49 | 3.03 | 3.90 | 6.60 | 6.33 | 9.08 | 9.54 |
| EV / EBIT | 14.80 | 0.50 | 1.21 | 2.68 | 4.48 | 3.36 | 3.78 | 6.01 | 6.31 | 8.79 | 9.60 |
| EV / FCF | — | 0.61 | 0.98 | 5.20 | 8.90 | 3.24 | 8.92 | 18.03 | 5.96 | 33.72 | 41.29 |
GMAB Profitability
Margins and return-on-capital ratios measuring operating efficiency
Genmab A/S earns an operating margin of 31.1%. Operating margins have compressed from 43.2% to 31.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 23.0% indicates solid capital efficiency. ROIC of 22.2% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 95.4% | 95.4% | 98.6% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 31.1% | 31.1% | 32.3% | 43.2% | 35.1% | 62.4% | 49.2% | 45.6% | 56.8% | 58.0% | 64.5% |
| Net Profit Margin | 36.4% | 36.4% | 26.4% | 37.6% | 35.1% | 47.1% | 40.4% | 48.7% | 46.7% | 65.4% | 67.4% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 23.0% | 23.0% | 14.8% | 22.0% | 14.3% | 28.7% | 19.6% | 20.6% | 19.9% | 28.6% | 27.7% |
| ROA | 19.3% | 19.3% | 13.3% | 19.9% | 12.9% | 26.2% | 18.4% | 19.5% | 18.6% | 26.0% | 22.6% |
| ROIC | 22.2% | 22.2% | 22.5% | 29.7% | 17.1% | 41.4% | 21.8% | 16.7% | 21.3% | 22.1% | 25.6% |
| ROCE | 18.3% | 18.3% | 17.4% | 24.4% | 13.8% | 37.0% | 23.7% | 19.3% | 24.2% | 25.3% | 25.6% |
GMAB Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Genmab A/S carries a Debt/EBITDA ratio of 0.1x, which is very conservative (95% below the sector average of 3.1x). The company holds a net cash position — cash of $9.9B exceeds total debt of $1.0B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 55.9x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | — | — | — | 0.00 |
| Debt / EBITDA | 0.14 | 0.14 | 0.14 | 0.09 | 0.13 | 0.05 | 0.07 | — | — | — | 0.00 |
| Net Debt / Equity | — | -0.24 | -0.45 | -0.34 | -0.38 | -0.36 | -0.24 | -0.07 | -0.21 | -0.06 | -0.25 |
| Net Debt / EBITDA | -1.24 | -1.24 | -2.53 | -1.40 | -2.66 | -1.06 | -1.21 | -0.36 | -0.95 | -0.28 | -1.15 |
| Debt / FCF | — | -1.16 | -2.01 | -2.59 | -4.32 | -1.13 | -2.77 | -0.99 | -0.90 | -1.04 | -4.96 |
| Interest Coverage | 55.86 | 55.86 | 197.07 | 298.43 | 227.15 | 631.30 | 376.86 | 3310.03 | 672.09 | 4942.88 | 6189.65 |
Net cash position: cash ($9.9B) exceeds total debt ($1.0B)
GMAB Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Genmab A/S's current ratio of 5.25x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 15.48x to 5.25x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.25 | 5.25 | 13.34 | 15.48 | 14.50 | 15.00 | 14.88 | 16.77 | 18.52 | 11.90 | 8.85 |
| Quick Ratio | 5.24 | 5.24 | 13.32 | 15.48 | 14.50 | 15.00 | 14.88 | 16.77 | 18.52 | 11.90 | 8.85 |
| Cash Ratio | 3.98 | 3.98 | 11.33 | 12.25 | 12.33 | 12.83 | 11.70 | 13.77 | 16.58 | 9.53 | 8.43 |
| Asset Turnover | — | 0.47 | 0.47 | 0.48 | 0.34 | 0.48 | 0.35 | 0.36 | 0.36 | 0.35 | 0.29 |
| Inventory Turnover | 15.89 | 15.89 | 3.96 | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 113.45 | 109.61 | 143.74 | 146.01 | 88.91 | 203.38 | 160.11 | 89.34 | 196.09 | 56.27 |
GMAB Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Genmab A/S returns 3.7% to shareholders annually primarily through share buybacks. The earnings yield of 6.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.9% | 58.2% | 20.7% | 19.5% | 11.3% | 17.8% | 15.2% | 14.4% | 10.7% | 11.6% | 9.4% |
| FCF Yield | 7.0% | 56.2% | 33.4% | 12.9% | 7.6% | 22.9% | 8.6% | 5.3% | 14.6% | 2.9% | 2.2% |
| Buyback Yield | 3.7% | 29.6% | 2.7% | 3.2% | 1.7% | 0.1% | 0.0% | 1.4% | 0.0% | 1.2% | 0.0% |
| Total Shareholder Yield | 3.7% | 29.6% | 2.7% | 3.2% | 1.7% | 0.1% | 0.0% | 1.4% | 0.0% | 1.2% | 0.0% |
| Shares Outstanding | — | $646M | $659M | $660M | $660M | $659M | $636M | $620M | $621M | $618M | $608M |
Peer Comparison
Compare GMAB 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 |
|---|---|---|---|---|---|---|---|---|---|
 GMABYou | $17B | 14.4 | 13.9 | 14.2 | 95.4% | 31.1% | 23.0% | 22.2% | 0.1 |
 REGN | $73B | 16.9 | 17.6 | 17.9 | 85.4% | 24.9% | 14.9% | 8.9% | 0.7 |
 SRPT | $2B | 9.3 | 9.9 | — | 83.2% | 11.5% | 19.7% | 9.1% | 5.3 |
 INCY | $19B | 15.2 | 11.5 | 14.4 | 91.5% | 26.1% | 29.9% | 51.1% | 0.0 |
 EXEL | $11B | 16.0 | 12.2 | 13.4 | 96.4% | 37.6% | 35.5% | 32.1% | 0.2 |
 HALO | $8B | 25.7 | 8.4 | 12.0 | 78.1% | 58.4% | 153.6% | 73.4% | — |
 ABBV | $365B | 87.0 | 15.2 | 20.5 | 70.2% | 32.8% | 6214.7% | 23.9% | 2.4 |
 BMY | $116B | 16.5 | 9.3 | 9.0 | 67.6% | 26.3% | 40.4% | 16.9% | 2.8 |
 MRK | $279B | 15.5 | 10.8 | 22.6 | 72.0% | 36.2% | 36.9% | 22.0% | 1.7 |
 RGEN | $7B | 146.2 | 52.2 | 75.5 | 47.1% | 8.1% | 2.4% | 2.2% | 5.0 |
 RCUS | $3B | -7.9 | — | — | 96.0% | -156.3% | -63.3% | -64.1% | — |
| Healthcare Median | — | 22.2 | 14.0 | 18.6 | 64.1% | -5.3% | -34.0% | -11.2% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 23 years · Updated daily
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Start ComparisonGMAB — Frequently Asked Questions
Quick answers to the most common questions about buying GMAB stock.
What is Genmab A/S's P/E ratio?
Genmab A/S's current P/E ratio is 14.4x. The historical average is 8.1x. This places it at the 92th percentile of its historical range.
What is Genmab A/S's EV/EBITDA?
Genmab A/S's current EV/EBITDA is 13.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.9x.
What is Genmab A/S's ROE?
Genmab A/S's return on equity (ROE) is 23.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -9.9%.
Is GMAB stock overvalued?
Based on historical data, Genmab A/S is trading at a P/E of 14.4x. This is at the 92th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Genmab A/S's profit margins?
Genmab A/S has 95.4% gross margin and 31.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Genmab A/S have?
Genmab A/S's Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.