Genmab A/S Sponsored ADR
GMAB Healthcare Biotechnology
Genmab A/S Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $3.7 billion, up 19.2% from fiscal 2024. In the quarter to June 2026, revenue grew 24.9%, EPS fell 9.26% and free cash flow fell 7.69%, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three.
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Genmab A/S Sponsored ADR (GMAB) Piotroski F-score
Genmab A/S Sponsored ADR's Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, down from 6 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | (2.00) |
| FY2024 | 6 | 0.00 |
| FY2023 | 6 | 0.00 |
| FY2022 | 6 | 3.00 |
| FY2021 | 3 | (3.00) |
| FY2020 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 9.99% | 19.64% | Pass | 1 |
| Positive operating cash flow | 1.19b | 1.13b | Pass | 1 |
| Rising return on assets | 9.99% | 19.64% | Fail | 0 |
| Cash flow above net income | 223.00m | (7.00m) | Pass | 1 |
| Falling long-term leverage | 0.52 | 0.00 | Fail | 0 |
| Rising current ratio | 2.02 | 5.24 | Fail | 0 |
| No new shares issued | 621,510,000 | 641,870,000 | Pass | 1 |
| Rising gross margin | 93.60% | 95.42% | Fail | 0 |
| Rising asset turnover | 0.39 | 0.54 | Fail | 0 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| INCY Incyte Corporation compare | 9 |
| EXEL Exelixis, Inc. compare | 7 |
| ALNY Alnylam Pharmaceuticals, Inc. compare | 6 |
| ASND Ascendis Pharma A/S compare | 5 |
| RPRX Royalty Pharma PLC compare | 5 |
| GMAB Genmab A/S Sponsored ADR | 4 |
| INSM Insmed, Inc. compare | 4 |
| BNTX BioNTech SE Sponsored ADR compare | 4 |
| ROIV Roivant Sciences Ltd. compare | 2 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover