Saturday 17 October 2026
Export ARGX’s income statement to Excel — free account
argenex SE
ARGX Healthcare Biotechnology
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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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
5 | 4 | 4 | 2 | 4 | 2 | 4 | 3 | — | — |
P/E ratio |
39.97 | 44.69 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/S ratio |
12.13 | 16.35 | 17.17 | 45.65 | 26.15 | 143.06 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z-Score |
24.36 | 32.17 | 29.53 | 37.95 | 34.00 | 12.87 | 9.02 | 40.99 | 32.38 | — |
P/FCF ratio |
87.59 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 20.35 | 0.00 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
10.58 | 11.80 | 12.66 | 10.65 | 11.16 | 5.05 | 6.84 | 18.24 | 18.67 | 1.66 |
P/Operating CF |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Beneish M-Score |
(1.51) | (0.33) | (1.01) | 4.63 | 4.27 | (3.69) | 1.17 | (2.72) | (1.45) | — |
P/B ratio |
7.04 | 6.70 | 5.32 | 7.22 | 7.06 | 8.31 | 5.31 | 0.00 | 0.00 | 0.00 |
Price to Tangible BV |
7.31 | 6.92 | 5.48 | 7.70 | 7.57 | 9.23 | 5.52 | 0.00 | 0.00 | 0.00 |
EV/Sales |
11.31 | 15.68 | 15.56 | 43.86 | 24.20 | 122.56 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/EBITDA |
45.61 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
57.23 | (38.67) | (9.57) | (8.92) | (13.39) | 3,835.64 | 18.93 | 2.16 | 0.00 | 0.00 |
EV/FCF |
81.66 | (30.68) | (8.05) | (8.89) | (13.30) | (13,199.23) | 19.15 | 2.13 | 0.00 | 0.00 |
Quick Ratio |
3.90 | 3.60 | 6.02 | 3.57 | 4.56 | 3.73 | 2.25 | 7.14 | 7.54 | 2.19 |
Current Ratio |
5.23 | 7.29 | 9.75 | 9.18 | 8.44 | 6.26 | 8.58 | 14.29 | 14.13 | 2.40 |
Net Debt/EBITDA |
(3.23) | 363.46 | 6.53 | 1.30 | 3.89 | 2.57 | 1.88 | 3.48 | 8.56 | 4.30 |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Asset Turnover |
0.57 | 0.42 | 0.33 | 0.15 | 0.21 | 0.03 | 0.08 | 0.06 | 0.17 | 0.07 |
Operating CF/Net income |
0.53 | (0.10) | 1.42 | 1.22 | 1.49 | 0.65 | (0.83) | 0.81 | 1.30 | (0.50) |
Capex/Depreciation |
(3.97) | (3.90) | (0.39) | (0.99) | (20.70) | (1.31) | (19.27) | (1.39) | (0.81) | (2.58) |
Interest Coverage |
258.16 | (8.79) | (469.15) | (184.42) | (76.18) | (318.20) | (1,439.74) | (22.77) | (57.37) | — |
| 20.15% | 17.36% | (8.54%) | (26.54%) | (19.40%) | (42.69%) | (20.14%) | (15.35%) | (13.80%) | (9.74%) | |
| 17.36% | 15.51% | (7.69%) | (23.71%) | (15.92%) | (31.33%) | (15.95%) | (14.28%) | (11.83%) | (8.39%) | |
ROIC |
17.19% | (0.34%) | (12.97%) | (22.37%) | (18.17%) | (65.28%) | (15.51%) | (20.01%) | (9.41%) | 0.00% |
Return on Tangible Assets |
22.96% | 19.57% | (7.92%) | (28.52%) | (18.08%) | (34.97%) | (13.34%) | (12.50%) | (8.22%) | (35.53%) |
Average Days of Receivables |
142.38 | 147.34 | 143.65 | 227.29 | 25.86 | 41.84 | 125.41 | 39.79 | 26.54 | 45.39 |
Research and Development Expense of Revenue |
32.11% | 43.67% | 67.75% | 148.98% | 107.62% | 571.37% | 239.35% | 286.03% | 125.41% | 183.98% |
Selling, General and Administrative Expense of Revenue |
32.18% | 46.86% | 56.12% | 106.03% | 57.03% | 264.43% | 78.19% | 93.98% | 30.17% | 40.88% |
Intangible Assets out of Total Assets |
0.03 | 0.03 | 0.03 | 0.06 | 0.06 | 0.07 | 0.03 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
5.84% | 10.44% | 18.36% | 35.27% | 33.25% | 149.33% | 47.89% | 65.63% | 10.35% | 16.61% |
Graham Net Nets |
0.11 | 0.11 | 0.17 | 0.12 | 0.12 | 0.10 | 0.18 | 0.00 | 0.00 | 0.00 |
Graham Number |
237.82 | 168.64 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
2.50% | 2.24% | (1.35%) | (3.51%) | (2.52%) | (6.52%) | (3.93%) | (1.63%) | (4.03%) | (5.22%) |
Free Cash Flow Yield |
1.14% | (3.13%) | (11.25%) | (10.80%) | (6.96%) | (0.01%) | 4.91% | 0.00% | 0.00% | 0.00% |
Revenue per Share |
69.31 | 37.62 | 22.19 | 8.19 | 10.56 | 1.43 | 2.40 | 1.03 | 1.89 | 1.01 |
Operating CF per Share |
11.18 | (1.38) | (7.35) | (15.87) | (11.88) | (8.77) | 3.90 | (1.90) | (1.68) | 0.62 |
Capex per Share |
(1.82) | (1.14) | (0.77) | (1.91) | (2.38) | (0.11) | (1.21) | (0.02) | (0.02) | (0.05) |
Free Cash Flow per Share |
9.36 | (2.52) | (8.12) | (17.78) | (14.26) | (8.89) | 2.69 | (1.93) | (1.69) | 0.57 |
Cash per Share |
56.96 | 25.06 | 35.84 | 14.72 | 26.13 | 26.80 | 9.61 | 9.99 | 8.84 | 5.33 |
Shareholders Equity per Share |
119.47 | 91.86 | 71.67 | 51.74 | 49.62 | 36.87 | 30.47 | 19.03 | 15.84 | 3.73 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
119.47 | 91.86 | 71.67 | 51.74 | 49.62 | 36.87 | 30.47 | 19.03 | 15.84 | 3.73 |
Free Cash Flow |
573.51 | (151.05) | (464.14) | (966.63) | (728.25) | (403.60) | 103.98 | (64.39) | (41.70) | 10.78 |
Working Capital |
5,578.92 | 4,213.19 | 3,700.74 | 2,471.92 | 2,241.73 | 1,728.51 | 1,358.85 | 628.75 | 385.27 | 65.73 |
Capital Expenditures |
(111.68) | (68.30) | (43.81) | (103.82) | (121.43) | (5.14) | (46.76) | (0.81) | (0.40) | (0.95) |
Net Current Asset Value |
5,539.50 | 4,178.86 | 3,678.79 | 2,453.64 | 2,226.92 | 1,451.65 | 1,109.50 | 628.74 | 385.24 | 65.73 |
EV/EBIT |
45.61 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.03 | 0.03 | 0.03 | 0.23 | 0.23 | 0.08 | 0.51 | 0.02 | 0.01 | 0.05 |
Price to Operating Income |
48.91 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.58 | 0.40 | 4.91 | 6.43 | 0.37 | 0.34 | 0.27 | 0.60 | 0.64 | 0.44 |
Cash ROIC |
5.30% | (2.16%) | (7.55%) | (26.74%) | (18.82%) | (13.96%) | 6.72% | (6.64%) | (6.86%) | 6.32% |
Accounts Receivable Turnover |
3.31 | 3.20 | 3.27 | 2.82 | 23.63 | 3.31 | 5.20 | 9.65 | 16.22 | 6.35 |
Accounts Payable Turnover |
0.47 | 0.43 | 0.33 | 0.10 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Inventory Turnover |
1.02 | 0.63 | 0.44 | 0.17 | 0.00 | 0.00 | — | — | — | — |
Average Days of Payables |
1,026.28 | 1,043.81 | 1,282.43 | 3,666.98 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Days of Inventory on Hand |
383.52 | 653.97 | 961.94 | 2,832.01 | 0.00 | 0.00 | — | — | — | — |
Average Receivables |
1,283.08 | 704.18 | 388.27 | 157.75 | 22.83 | 19.61 | 17.77 | 3.58 | 2.88 | 2.99 |
Average Payables |
958.57 | 532.00 | 354.85 | 294.55 | 284.30 | 185.36 | 69.66 | 30.53 | 15.38 | 9.15 |
Average Inventory |
440.38 | 358.89 | 269.45 | 168.71 | 67.14 | 67.51 | — | — | — | — |
Average Assets |
7,442.61 | 5,372.49 | 3,838.36 | 2,992.27 | 2,564.84 | 1,942.37 | 1,144.25 | 551.20 | 268.14 | 282.02 |
Average Common Equity |
6,410.69 | 4,797.90 | 3,455.60 | 2,673.96 | 2,104.14 | 1,425.44 | 906.34 | 512.86 | 230.00 | 242.90 |
Columns are period end dates