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ARGENX SE - ADR (ARGX) Stock Fundamental Analysis

NASDAQ:ARGX - Nasdaq - US04016X1019 - ADR - Currency: USD

655.75  -5.57 (-0.84%)

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to ARGX. ARGX was compared to 549 industry peers in the Biotechnology industry. ARGX has an excellent financial health rating, but there are some minor concerns on its profitability. ARGX is growing strongly while it is still valued neutral. This is a good combination! These ratings could make ARGX a good candidate for growth investing.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year ARGX was profitable.
In the past year ARGX had a positive cash flow from operations.
In the past 5 years ARGX reported 4 times negative net income.
In the past 5 years ARGX always reported negative operating cash flow.
ARGX Yearly Net Income VS EBIT VS OCF VS FCFARGX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M

1.2 Ratios

The Return On Assets of ARGX (17.84%) is better than 96.17% of its industry peers.
ARGX has a Return On Equity of 21.00%. This is amongst the best in the industry. ARGX outperforms 95.81% of its industry peers.
ARGX has a Return On Invested Capital of 6.01%. This is amongst the best in the industry. ARGX outperforms 93.08% of its industry peers.
Industry RankSector Rank
ROA 17.84%
ROE 21%
ROIC 6.01%
ROA(3y)-5.23%
ROA(5y)-11.34%
ROE(3y)-5.76%
ROE(5y)-13.95%
ROIC(3y)N/A
ROIC(5y)N/A
ARGX Yearly ROA, ROE, ROICARGX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20 -30 -40

1.3 Margins

ARGX has a Profit Margin of 41.97%. This is amongst the best in the industry. ARGX outperforms 98.36% of its industry peers.
The Operating Margin of ARGX (15.30%) is better than 94.35% of its industry peers.
With an excellent Gross Margin value of 89.40%, ARGX belongs to the best of the industry, outperforming 91.80% of the companies in the same industry.
Industry RankSector Rank
OM 15.3%
PM (TTM) 41.97%
GM 89.4%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
ARGX Yearly Profit, Operating, Gross MarginsARGX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -500 -1K

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7

2. Health

2.1 Basic Checks

ARGX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
ARGX has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, ARGX has more shares outstanding
ARGX has a worse debt/assets ratio than last year.
ARGX Yearly Shares OutstandingARGX Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
ARGX Yearly Total Debt VS Total AssetsARGX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

ARGX has an Altman-Z score of 23.91. This indicates that ARGX is financially healthy and has little risk of bankruptcy at the moment.
ARGX has a better Altman-Z score (23.91) than 94.90% of its industry peers.
The Debt to FCF ratio of ARGX is 0.14, which is an excellent value as it means it would take ARGX, only 0.14 years of fcf income to pay off all of its debts.
ARGX has a Debt to FCF ratio of 0.14. This is amongst the best in the industry. ARGX outperforms 96.17% of its industry peers.
A Debt/Equity ratio of 0.01 indicates that ARGX is not too dependend on debt financing.
ARGX has a Debt to Equity ratio (0.01) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.14
Altman-Z 23.91
ROIC/WACC0.81
WACC7.39%
ARGX Yearly LT Debt VS Equity VS FCFARGX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B

2.3 Liquidity

ARGX has a Current Ratio of 5.60. This indicates that ARGX is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 5.60, ARGX is in line with its industry, outperforming 59.38% of the companies in the same industry.
A Quick Ratio of 5.27 indicates that ARGX has no problem at all paying its short term obligations.
The Quick ratio of ARGX (5.27) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 5.6
Quick Ratio 5.27
ARGX Yearly Current Assets VS Current LiabilitesARGX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

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8

3. Growth

3.1 Past

ARGX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 345.45%, which is quite impressive.
ARGX shows a strong growth in Revenue. In the last year, the Revenue has grown by 56.80%.
ARGX shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 94.61% yearly.
EPS 1Y (TTM)345.45%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%731.11%
Revenue 1Y (TTM)56.8%
Revenue growth 3Y63.92%
Revenue growth 5Y94.61%
Sales Q2Q%97.62%

3.2 Future

Based on estimates for the next years, ARGX will show a very strong growth in Earnings Per Share. The EPS will grow by 98.67% on average per year.
ARGX is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 31.90% yearly.
EPS Next Y576.65%
EPS Next 2Y242.7%
EPS Next 3Y155.24%
EPS Next 5Y98.67%
Revenue Next Year67.98%
Revenue Next 2Y47.67%
Revenue Next 3Y39.38%
Revenue Next 5Y31.9%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
ARGX Yearly Revenue VS EstimatesARGX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2B 4B 6B 8B 10B
ARGX Yearly EPS VS EstimatesARGX Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 20 40 60 80

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6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 70.74, which means the current valuation is very expensive for ARGX.
Compared to the rest of the industry, the Price/Earnings ratio of ARGX indicates a rather cheap valuation: ARGX is cheaper than 90.53% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of ARGX to the average of the S&P500 Index (26.82), we can say ARGX is valued expensively.
A Price/Forward Earnings ratio of 30.09 indicates a quite expensive valuation of ARGX.
90.89% of the companies in the same industry are more expensive than ARGX, based on the Price/Forward Earnings ratio.
ARGX is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 35.24, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 70.74
Fwd PE 30.09
ARGX Price Earnings VS Forward Price EarningsARGX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ARGX indicates a rather cheap valuation: ARGX is cheaper than 91.26% of the companies listed in the same industry.
91.62% of the companies in the same industry are more expensive than ARGX, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 130
EV/EBITDA 71.08
ARGX Per share dataARGX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
ARGX's earnings are expected to grow with 155.24% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.12
PEG (5Y)N/A
EPS Next 2Y242.7%
EPS Next 3Y155.24%

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0

5. Dividend

5.1 Amount

ARGX does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ARGENX SE - ADR

NASDAQ:ARGX (8/19/2025, 12:51:00 PM)

655.75

-5.57 (-0.84%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)07-31 2025-07-31/bmo
Earnings (Next)10-30 2025-10-30/bmo
Inst Owners39.98%
Inst Owner Change-19%
Ins Owners0.12%
Ins Owner ChangeN/A
Market Cap40.13B
Analysts84.8
Price Target834.56 (27.27%)
Short Float %3.07%
Short Ratio4.44
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)15.16%
Min EPS beat(2)7.11%
Max EPS beat(2)23.2%
EPS beat(4)3
Avg EPS beat(4)3962.36%
Min EPS beat(4)-38.07%
Max EPS beat(4)15857.2%
EPS beat(8)5
Avg EPS beat(8)1996.71%
EPS beat(12)8
Avg EPS beat(12)1343.38%
EPS beat(16)12
Avg EPS beat(16)1012.62%
Revenue beat(2)1
Avg Revenue beat(2)3.68%
Min Revenue beat(2)-0.81%
Max Revenue beat(2)8.17%
Revenue beat(4)3
Avg Revenue beat(4)5.02%
Min Revenue beat(4)-0.81%
Max Revenue beat(4)8.17%
Revenue beat(8)6
Avg Revenue beat(8)5.96%
Revenue beat(12)10
Avg Revenue beat(12)14.45%
Revenue beat(16)13
Avg Revenue beat(16)17.87%
PT rev (1m)6.57%
PT rev (3m)5.27%
EPS NQ rev (1m)23.76%
EPS NQ rev (3m)56%
EPS NY rev (1m)-0.26%
EPS NY rev (3m)-2.25%
Revenue NQ rev (1m)10.88%
Revenue NQ rev (3m)20.1%
Revenue NY rev (1m)1.93%
Revenue NY rev (3m)1.93%
Valuation
Industry RankSector Rank
PE 70.74
Fwd PE 30.09
P/S 13.15
P/FCF 130
P/OCF 99.4
P/B 6.58
P/tB 6.83
EV/EBITDA 71.08
EPS(TTM)9.27
EY1.41%
EPS(NY)21.79
Fwd EY3.32%
FCF(TTM)5.04
FCFY0.77%
OCF(TTM)6.6
OCFY1.01%
SpS49.85
BVpS99.6
TBVpS96.03
PEG (NY)0.12
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 17.84%
ROE 21%
ROCE 7.61%
ROIC 6.01%
ROICexc 16.72%
ROICexgc 18.56%
OM 15.3%
PM (TTM) 41.97%
GM 89.4%
FCFM 10.12%
ROA(3y)-5.23%
ROA(5y)-11.34%
ROE(3y)-5.76%
ROE(5y)-13.95%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.43
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.14
Debt/EBITDA 0.07
Cap/Depr 428.74%
Cap/Sales 3.12%
Interest Coverage 519.07
Cash Conversion 82.6%
Profit Quality 24.11%
Current Ratio 5.6
Quick Ratio 5.27
Altman-Z 23.91
F-Score5
WACC7.39%
ROIC/WACC0.81
Cap/Depr(3y)176.19%
Cap/Depr(5y)545.91%
Cap/Sales(3y)10.66%
Cap/Sales(5y)13.77%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)345.45%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%731.11%
EPS Next Y576.65%
EPS Next 2Y242.7%
EPS Next 3Y155.24%
EPS Next 5Y98.67%
Revenue 1Y (TTM)56.8%
Revenue growth 3Y63.92%
Revenue growth 5Y94.61%
Sales Q2Q%97.62%
Revenue Next Year67.98%
Revenue Next 2Y47.67%
Revenue Next 3Y39.38%
Revenue Next 5Y31.9%
EBIT growth 1Y207%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year1034.03%
EBIT Next 3Y192.38%
EBIT Next 5Y113.51%
FCF growth 1Y140.74%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y161.79%
OCF growth 3YN/A
OCF growth 5YN/A