Projected Income Statement: Genmab A/S

Forecast Balance Sheet: Genmab A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -19,338 -22,324 -28,135 -21,101 -10,833 19,402 11,819 -616
Change - -15.44% -26.03% 25% 48.66% 279.11% -39.08% -105.21%
Announcement Date 16/02/22 22/02/23 14/02/24 12/02/25 17/02/26 - - -
1DKK in Million
Estimates

Cash Flow Forecast: Genmab A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 252 317 366 187 233.7 410.6 513.1 587.7
Change - 25.79% 15.46% -48.91% 24.98% 75.67% 24.98% 14.54%
Free Cash Flow (FCF) 1 1,976 3,595 7,014 7,584 7,258 5,390 8,521 13,992
Change - 81.93% 95.1% 8.13% -4.3% -25.74% 58.1% 64.21%
Announcement Date 16/02/22 22/02/23 14/02/24 12/02/25 17/02/26 - - -
1DKK in Million
Estimates

Forecast Financial Ratios: Genmab A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 38.51% 46.04% 34.09% 33.06% 30.54% 30.77% 35.25% 41.28%
EBIT Margin (%) 35.58% 43.56% 32.3% 32.53% 28.63% 27.29% 30.24% 35.3%
EBT Margin (%) 46.96% 48.2% 34.22% 42.57% 32.37% 21.71% 27.03% 33.54%
Net margin (%) 35.46% 37.83% 26.42% 36.44% 25.89% 17.05% 21.26% 26.33%
FCF margin (%) 23.3% 24.63% 42.58% 35.23% 30.89% 19.08% 25.68% 34.74%
FCF / Net Income (%) 65.69% 65.1% 161.17% 96.69% 119.31% 111.93% 120.8% 131.93%

Profitability

        
ROA 13.14% 20.11% 13.31% 19.34% 9.99% 6.55% 8.46% 10.22%
ROE 14.56% 22.25% 14.78% 22.97% 17.53% 11.76% 14.44% 17.66%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - 2.23x 1.01x -
Debt / Free cash flow - - - - - 3.6x 1.39x -

Capital Intensity

        
CAPEX / Current Assets (%) 2.97% 2.17% 2.22% 0.87% 0.99% 1.45% 1.55% 1.46%
CAPEX / EBITDA (%) 7.72% 4.72% 6.52% 2.63% 3.26% 4.72% 4.39% 3.53%
CAPEX / FCF (%) 12.75% 8.82% 5.22% 2.47% 3.22% 7.62% 6.02% 4.2%

Items per share

        
Cash flow per share 1 33.73 59.26 111.7 120.2 119.5 103.7 141.8 203.2
Change - 75.68% 88.46% 7.65% -0.61% -13.2% 36.75% 43.24%
Dividend per Share 1 - - - - - - - -
Change - - - - - - - -
Book Value Per Share 1 336.3 415.8 478.9 556 584.7 674.9 785.7 943.4
Change - 23.63% 15.19% 16.09% 5.16% 15.43% 16.42% 20.07%
EPS 1 45.54 83.65 66.02 121.4 97.08 76.56 110.2 164.2
Change - 83.68% -21.08% 83.82% -20% -21.14% 43.97% 48.95%
Nbr of stocks (in thousands) 65,423 65,362 65,322 63,524 61,599 61,393 61,393 61,393
Announcement Date 16/02/22 22/02/23 14/02/24 12/02/25 17/02/26 - - -
1DKK
Estimates
2026 *2027 *
P/E 24.9x 17.3x
PBR 2.82x 2.42x
EV / Sales 4.83x 3.88x
Yield - -

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
18
Last Close Price
1,904.00DKK
Average target price
2,392.08DKK
Spread / Average Target
+25.63%

Quarterly revenue - Rate of surprise