Saturday 17 October 2026 Export ARGX’s income statement to Excel — free account

argenex SE

argenex SE’s revenue for fiscal 2025 (year ended December 2025) was $4.2 billion, up 88.6% from fiscal 2024. In the quarter to June 2026, revenue grew 59.5%, EPS grew 88.6% and free cash flow grew 537.5%, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three.

819.14 27.13 −3.21%

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Market cap: $53.2B
P/E: 29.6×
Fwd P/E: 32.4×
Dividend yield: —
F-score: 5/9
Altman Z: 24.36
Beneish M: −1.51
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 53,220.00

Revenue 5,329.05

Net Income 1,600.81

Free Cash Flow 1,378.46

Net Debt (3,584.00)

Current Ratio 5.12

Debt/Equity 0.00

P/E ratio 29.55

Fwd P/E 32.40

P/S ratio 9.58

P/B ratio 6.06

Past 5Y EPS Growth —

This Y EPS Growth 49.93%

Next Y EPS Growth 32.96%

Next Y revenue growth 66.50%

Next 5Y EPS Growth 35.12%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 0.36%

10-year low 10-year high

P/B against its own 10 years 28.66%

10-year low 10-year high

EV/Sales against its own 10 years 0.43%

10-year low 10-year high

EV/FCF against its own 10 years 46.39%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	Powerpack
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2,049	1,500	3,491	3,584
Receivables	499	909	1,657	1,941
Inventory	311	407	474	371
Other	1,131	1,879	949	1,600
	4,124	4,883	6,899	8,068

	2023	2024	2025	Q'26
Payables	414	650	1,267	1,515
ST’ Debt	—	—	—	—
Other	—	—	—	—
	423	670	1,320	1,575

Compound Annual Growth %

	10y	5y	3y
Sales	—	130.77%	112.09%
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	34.33%	37.55%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,313	1,542	—	—	—
’25	807	967	1,151	1,323	4,248
’24	413	489	589	761	2,252
’23	230	281	340	418	1,269
’22	31	85	146	182	445
’21	179	465	7	34	539
’20	26	25	—	17	65

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	—	—	—	—	685
’24	—	—	—	—	(83)
’23	—	—	—	—	(420)
’22	—	—	—	—	(863)
’21	—	—	—	—	(607)
’20	—	—	—	—	(398)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	643	—	—	—
’25	—	313	—	574	574
’24	—	(147)	—	(151)	(151)
’23	—	(286)	—	(464)	(464)
’22	—	(495)	—	(967)	(967)
’21	—	(349)	—	(728)	(728)
’20	—	(148)	—	(257)	(404)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	5.52	7.32	—	—	—
’25	2.58	3.74	5.18	8.02	19.57
’24	(1.04)	0.45	1.39	11.79	12.78
’23	(0.52)	(1.69)	(1.25)	(1.68)	(5.16)
’22	(4.36)	(3.81)	(4.26)	(0.70)	(13.05)
’21	(0.81)	1.24	(4.40)	(4.76)	(7.99)
’20	(2.06)	(5.31)	—	(8.40)	(13.30)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	17.33	55.50	96.15	103.75	248.21	249.50	327.73	349.86	510.06	Analyst estimates 2026–2028 Powerpack
	High	—	69.27	111.43	167.64	312.06	382.15	407.93	550.76	644.97	934.62
People
People	Employees	67	73	105	188	336	650	843	1,148	1,599	1,863
	Revenue/emp, $m	0.28	0.64	0.33	0.49	0.19	0.83	0.53	1.11	1.41	2.28
Income, $m
Income, $m	Revenue	19	47	35	92	65	539	445	1,269	2,252	4,248
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	93.39	90.71	89.91	89.39
	EBT	(24)	(31)	(78)	(177)	(605)	(400)	(729)	(304)	85	1,279
	EBT margin, %	(124.62)	(66.61)	(225.26)	(191.58)	(932.59)	(74.11)	(163.79)	(24.00)	3.78	30.10
	Net income	(24)	(26)	(97)	(200)	(478)	(349)	(720)	(425)	(22)	1,054
	Depreciation	0	0	1	2	4	6	104	111	18	28
Per share, $
Per share, $	Revenue	1.01	1.89	1.03	2.40	1.43	10.56	8.19	22.19	37.62	69.31
	Earnings	(1.26)	(1.40)	(2.35)	(4.73)	(13.30)	(7.99)	(13.05)	(5.16)	13.92	21.08
	Cash flow	0.62	(1.68)	(1.90)	3.90	(8.77)	(11.88)	(15.87)	(7.35)	(1.38)	11.18
	Capex	(0.05)	(0.02)	(0.02)	(1.21)	(0.11)	(2.38)	(1.91)	(0.77)	(1.14)	(1.82)
	Free cash flow	0.57	(1.69)	(1.93)	2.69	(8.89)	(14.26)	(17.78)	(8.12)	(2.52)	9.36
	Book value	3.73	15.84	19.03	30.47	36.87	49.62	51.74	71.67	91.86	119.47
	Shares, m	19	25	33	39	45	51	54	57	60	61
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	44.69	39.97
	P/S	0.00	0.00	0.00	0.00	143.06	26.15	45.65	17.17	16.35	12.13
	P/B	0.00	0.00	0.00	5.31	8.31	7.06	7.22	5.32	6.70	7.04
	EV/Sales	0.00	0.00	0.00	0.00	122.56	24.20	43.86	15.56	15.68	11.31
	EV/FCF	0.00	0.00	2.13	19.15	(13,199.23)	(13.30)	(8.89)	(8.05)	(30.68)	81.66
Cash, $m
Cash, $m	Operating cash flow	12	(41)	(64)	151	(398)	(607)	(863)	(420)	(83)	685
	Capex	(1)	0	(1)	(47)	(5)	(121)	(104)	(44)	(68)	(112)
	Free cash flow	11	(42)	(64)	104	(404)	(728)	(967)	(464)	(151)	574
Balance, $m
Balance, $m	Working capital	66	385	629	1,359	1,729	2,242	2,472	3,701	4,213	5,579
	Total debt	—	—	—	8	10	11	12	—	—	—
	Net debt	(100)	(218)	(334)	(371)	(1,217)	(1,335)	(801)	(2,049)	(1,500)	(3,491)
	Shareholders’ equity	70	390	636	1,177	1,674	2,534	2,814	4,098	5,498	7,323
Returns, %
Returns, %	ROA	(8.39)	(11.83)	(14.28)	(15.95)	(31.33)	(15.92)	(23.71)	(7.69)	15.51	17.36
	ROIC	0.00	(9.41)	(20.01)	(15.51)	(65.28)	(18.17)	(22.37)	(12.97)	(0.34)	17.19
	ROE	(9.74)	(13.80)	(15.35)	(20.14)	(42.69)	(19.40)	(26.54)	(8.54)	17.36	20.15

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
MRNA Moderna, Inc.	$94.4B	— (loss-making)	— (loss-making)	+2.11% (above 0%: growing)	n/m	+38.94% (above 0%: growing)	35.86%	(562.07%)	Compare
REGN Regeneron Pharmaceuticals, Inc.	$82.0B	18.9×	16.5×	+16.73% (above 0%: growing)	−4.68% (below 0%: shrinking)	−29.26% (below 0%: shrinking)	86.56%	30.15%	Compare
ARGX argenex SE	$53.2B	29.6×	32.4×	+59.46% (above 0%: growing)	+88.56% (above 0%: growing)	+537.51% (above 0%: growing)	90.60%	32.04%
RVMD Revolution Medicines, Inc.	$40.6B	— (loss-making)	— (loss-making)	−77.89% (below 0%: shrinking)	n/m	−69.98% (below 0%: shrinking)	100.00%	0.00%	Compare
ONC BeOne Medicines Ltd. - Sponsored ADR	$39.0B	62.6×	40.2×	+29.63% (above 0%: growing)	+143.68% (above 0%: growing)	+117.92% (above 0%: growing)	89.76%	19.06%	Compare
RPRX Royalty Pharma PLC	$34.3B	42.3×	21.9×	+16.50% (above 0%: growing)	−40.00% (below 0%: shrinking)	+31.57% (above 0%: growing)	100.00%	19.75%	Compare
ALNY Alnylam Pharmaceuticals, Inc.	$31.3B	39.5×	39.6×	+66.86% (above 0%: growing)	n/m	+152.82% (above 0%: growing)	76.88%	17.93%	Compare
ROIV Roivant Sciences Ltd.	$24.6B	— (loss-making)	— (loss-making)	−33.55% (below 0%: shrinking)	n/m	−29.99% (below 0%: shrinking)	80.31%	(25,380.93%)	Compare
INCY Incyte Corporation	$23.0B	13.9×	15.6×	+37.72% (above 0%: growing)	+39.71% (above 0%: growing)	+1,829.52% (above 0%: growing)	93.73%	41.69%	Compare
Median of peers	$36.6B	39.5×	21.9×	+16.62%	+17.52%	+35.26%	88.16%	18.50%

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argenex SE (ARGX) key facts

Strength: argenex SE’s revenue for fiscal 2025 (year ended December 2025) was $4.2 billion, up 88.6% from fiscal 2024.
argenex SE (ARGX) is a Biotechnology company in the Healthcare sector, traded in the US as an ADR.
Net income was $1.1 billion, or $21.08 per share (basic), a net margin of 30.4%.
As of October 16, 2026, ARGX traded at $819.14, a market capitalization of $53.2 billion.
At that price the stock trades at 29.6× trailing-twelve-month earnings and 9.6× sales.
Return on equity was 20.2% and debt-to-equity 0.00.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 24.36 (safe zone) for fiscal 2025.