Genmab A/S (GMAB) Financial Ratios
24 years of historical data (2002–2025) · Healthcare · Biotechnology
EV/EBITDA
↑
14.54
↑+163% vs avg
5yr avg: 5.52
30Y Low0.7·High23.0
P/FCF
↑
13.49
↑+58% vs avg
5yr avg: 8.51
30Y Low1.8·High58.6
P/B Ratio
↑
2.72
↑+107% vs avg
5yr avg: 1.31
30Y Low0.4·High3.3
ROE
↓
4.5%
↑-71% vs avg
5yr avg: 15.7%
30Y Low-112%·High29%
Debt/EBITDA
↑
4.10
↑+345% vs avg
5yr avg: 0.92
30Y Low0.0·High4.1
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 16.4x earnings, 103% above its 5-year average of 8.1x, sitting at the 85th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a discount of 26%. On a free-cash-flow basis, the stock trades at 13.5x P/FCF, 58% above the 5-year average of 8.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $15.5B | $19.3B | $13.5B | $21.0B | $28.0B | $26.1B | $26.8B | $14.2B | $10.2B | $10.3B | $10.2B |
| Enterprise Value | $19.2B | $23.0B | $4.7B | $6.9B | $18.7B | $17.6B | $19.8B | $10.8B | $9.7B | $8.9B | $9.9B |
| P/E Ratio → | 16.41 | 20.00 | 1.72 | 4.82 | 5.13 | 8.83 | 5.63 | 6.57 | 6.95 | 9.31 | 8.64 |
| P/S Ratio | 4.17 | 5.19 | 0.63 | 1.27 | 1.93 | 3.10 | 2.65 | 2.65 | 3.38 | 4.35 | 5.64 |
| P/B Ratio | 2.72 | 3.31 | 0.37 | 0.66 | 1.03 | 1.18 | 1.40 | 1.01 | 1.28 | 1.64 | 2.12 |
| P/FCF | 13.49 | 16.79 | 1.78 | 3.00 | 7.78 | 13.22 | 4.37 | 11.70 | 19.03 | 6.86 | 34.76 |
| P/OCF | 13.07 | 16.27 | 1.74 | 2.84 | 7.15 | 11.73 | 4.16 | 10.72 | 10.08 | 6.48 | 31.25 |
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 14.5x EBITDA, 163% above its 5-year average of 5.5x. This is roughly in line with the Healthcare sector median of 14.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.18 | 0.22 | 0.42 | 1.29 | 2.09 | 1.96 | 2.02 | 3.20 | 3.78 | 5.47 |
| EV / EBITDA | 14.54 | 17.42 | 0.65 | 1.24 | 2.82 | 5.49 | 3.03 | 3.90 | 6.60 | 6.33 | 9.08 |
| EV / EBIT | 15.37 | 18.40 | 0.50 | 1.21 | 2.68 | 4.48 | 3.36 | 3.78 | 6.01 | 6.31 | 8.79 |
| EV / FCF | — | 20.02 | 0.61 | 0.98 | 5.20 | 8.90 | 3.24 | 8.92 | 18.03 | 5.96 | 33.72 |
GMAB Profitability
Margins and return-on-capital ratios measuring operating efficiency
Genmab A/S earns an operating margin of 33.6%. Operating margins have expanded from 32.3% to 33.6% over the past 3 years, signaling improving operational efficiency. ROE of 4.5% is modest. ROIC of 5.0% represents adequate returns on invested capital.
Margins
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 | 91.7% | 91.7% | 95.4% | 98.6% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 33.6% | 33.6% | 31.1% | 32.3% | 43.2% | 35.1% | 62.4% | 49.2% | 45.6% | 56.8% | 58.0% |
| Net Profit Margin | 25.9% | 25.9% | 36.4% | 26.4% | 37.6% | 35.1% | 47.1% | 40.4% | 48.7% | 46.7% | 65.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.5% | 4.5% | 23.0% | 14.8% | 22.0% | 14.3% | 28.7% | 19.6% | 20.6% | 19.9% | 28.6% |
| ROA | 3.3% | 3.3% | 19.3% | 13.3% | 19.9% | 12.9% | 26.2% | 18.4% | 19.5% | 18.6% | 26.0% |
| ROIC | 5.0% | 5.0% | 22.2% | 22.5% | 29.7% | 17.1% | 41.4% | 21.8% | 16.7% | 21.3% | 22.1% |
| ROCE | 4.8% | 4.8% | 18.3% | 17.4% | 24.4% | 13.8% | 37.0% | 23.7% | 19.3% | 24.2% | 25.3% |
GMAB Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Genmab A/S carries a Debt/EBITDA ratio of 4.1x, which is highly leveraged (28% above the sector average of 3.2x). Net debt stands at $3.7B ($5.4B total debt minus $1.7B cash). Interest coverage of 20.5x 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 | 0.93 | 0.93 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | — | — | — |
| Debt / EBITDA | 4.10 | 4.10 | 0.14 | 0.14 | 0.09 | 0.13 | 0.05 | 0.07 | — | — | — |
| Net Debt / Equity | — | 0.64 | -0.24 | -0.45 | -0.34 | -0.38 | -0.36 | -0.24 | -0.07 | -0.21 | -0.06 |
| Net Debt / EBITDA | 2.81 | 2.81 | -1.24 | -2.53 | -1.40 | -2.66 | -1.06 | -1.21 | -0.36 | -0.95 | -0.28 |
| Debt / FCF | — | 3.23 | -1.16 | -2.01 | -2.59 | -4.32 | -1.13 | -2.77 | -0.99 | -0.90 | -1.04 |
| Interest Coverage | 20.49 | 20.49 | 77.37 | 211.37 | 331.71 | 302.38 | 591.40 | 409.43 | 3865.71 | 709.00 | 5307.18 |
GMAB Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Genmab A/S's current ratio of 2.02x 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 13.34x to 2.02x 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 | 2.02 | 2.02 | 5.25 | 13.34 | 15.48 | 14.50 | 15.00 | 14.88 | 16.77 | 18.52 | 11.90 |
| Quick Ratio | 2.01 | 2.01 | 5.24 | 13.32 | 15.48 | 14.50 | 15.00 | 14.88 | 16.77 | 18.52 | 11.90 |
| Cash Ratio | 1.20 | 1.20 | 3.98 | 11.33 | 12.25 | 12.33 | 12.83 | 11.70 | 13.77 | 16.58 | 9.53 |
| Asset Turnover | — | 0.29 | 0.47 | 0.47 | 0.48 | 0.34 | 0.48 | 0.35 | 0.36 | 0.36 | 0.35 |
| Inventory Turnover | 17.22 | 17.22 | 15.89 | 3.96 | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 112.69 | 113.45 | 109.61 | 143.74 | 146.01 | 88.91 | 203.38 | 160.11 | 89.34 | 196.09 |
GMAB Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Genmab A/S returns 2.8% to shareholders annually primarily through share buybacks. The earnings yield of 6.1% (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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.1% | 5.0% | 58.2% | 20.7% | 19.5% | 11.3% | 17.8% | 15.2% | 14.4% | 10.7% | 11.6% |
| FCF Yield | 7.4% | 6.0% | 56.2% | 33.4% | 12.9% | 7.6% | 22.9% | 8.6% | 5.3% | 14.6% | 2.9% |
| Buyback Yield | 2.8% | 2.2% | 29.6% | 2.7% | 3.2% | 1.7% | 0.1% | 0.0% | 1.4% | 0.0% | 1.2% |
| Total Shareholder Yield | 2.8% | 2.2% | 29.6% | 2.7% | 3.2% | 1.7% | 0.1% | 0.0% | 1.4% | 0.0% | 1.2% |
| Shares Outstanding | — | $627M | $646M | $659M | $660M | $660M | $659M | $636M | $620M | $621M | $618M |
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 | $16B | 16.4 | 14.5 | 13.5 | 91.7% | 33.6% | 4.5% | 5.0% | 4.1 |
 REGN | $63B | 14.7 | 15.3 | 15.5 | 85.4% | 24.9% | 14.9% | 8.9% | 0.7 |
 SRPT | $2B | -2.5 | — | — | 59.9% | -29.9% | -53.5% | -31.4% | — |
 INCY | $20B | 15.3 | 11.6 | 14.5 | 91.5% | 26.1% | 29.9% | 51.1% | 0.0 |
 EXEL | $13B | 18.7 | 14.3 | 15.6 | 96.4% | 37.6% | 35.5% | 32.1% | 0.2 |
 HALO | $8B | 26.8 | 11.2 | 12.6 | 78.1% | 58.4% | 153.6% | 32.1% | 2.4 |
 ABBV | $383B | 91.4 | 15.8 | 21.5 | 70.2% | 32.8% | 6214.7% | 23.9% | 2.4 |
 BMY | $110B | 15.7 | 8.9 | 8.6 | 67.6% | 26.3% | 40.4% | 16.9% | 2.8 |
 MRK | $281B | 15.6 | 10.8 | 22.8 | 72.0% | 36.2% | 36.9% | 22.0% | 1.7 |
 RGEN | $7B | 153.5 | 54.7 | 79.3 | 47.1% | 8.1% | 2.4% | 2.2% | 5.0 |
 RCUS | $2B | -7.4 | — | — | 96.0% | -156.3% | -63.3% | -64.1% | — |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 24 years · Updated daily
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GMAB — 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 16.4x. The historical average is 9.0x. This places it at the 85th percentile of its historical range.
What is Genmab A/S's EV/EBITDA?
Genmab A/S's current EV/EBITDA is 14.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.7x.
What is Genmab A/S's ROE?
Genmab A/S's return on equity (ROE) is 4.5%. The historical average is -9.3%.
Is GMAB stock overvalued?
Based on historical data, Genmab A/S is trading at a P/E of 16.4x. This is at the 85th 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 91.7% gross margin and 33.6% 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 4.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.