Cash flow Genmab A/S

Equities

GMAB

DK0010272202

Biotechnology & Medical Research

Real-time Estimate Cboe Europe Other stock markets 07:18:33 10/07/2025 pm IST			5-day change	1st Jan Change
1,381.50 ^DKK	+0.73%		+6.93%	-7.44%

01/07	Genmab Announces Changes to Its Executive Committee	CI
01/07	Genmab's Chief Legal Officer Steps Down; Successor Named	MT

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Published financial data: GENMAB A/S

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	1.01TCr	848.2Cr	1.46TCr	1.65TCr	2.15TCr
Total Revenues	1.01TCr	848.2Cr	1.46TCr	1.65TCr	2.15TCr
Cost of Goods Sold, Total	-	-	-	23Cr	98Cr
Gross Profit	1.01TCr	848.2Cr	1.46TCr	1.62TCr	2.05TCr
Selling General & Admin Expenses, Total	66Cr	128.3Cr	267.6Cr	329.7Cr	379Cr
R&D Expenses	311.5Cr	418.1Cr	552.4Cr	763Cr	967.2Cr
Other Operating Expenses, Total	377.6Cr	546.4Cr	820Cr	1.09TCr	1.35TCr
Operating Income	633.5Cr	301.8Cr	639.5Cr	532.1Cr	707.9Cr
Interest Expense, Total	-1Cr	-1.3Cr	-2.1Cr	-2.7Cr	-12Cr
Interest And Investment Income	18Cr	20Cr	32Cr	94Cr	100Cr
Net Interest Expenses	17Cr	18Cr	30Cr	91Cr	88Cr
Currency Exchange Gains (Loss)	-145.6Cr	147Cr	103.4Cr	-89Cr	133.9Cr
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	505.3Cr	467.2Cr	773.2Cr	534.4Cr	929.3Cr
Merger & Related Restructuring Charges	-	-	-	-	-30Cr
Gain (Loss) On Sale Of Investments	87Cr	-69Cr	-66Cr	29Cr	25Cr
Asset Writedown	-2.2Cr	-	-3.8Cr	-	-7.6Cr
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	590.4Cr	398.3Cr	703.5Cr	563.7Cr	916.4Cr
Income Tax Expense	114.6Cr	98Cr	151.3Cr	128.5Cr	132Cr
Earnings From Continuing Operations	475.8Cr	300.8Cr	552.2Cr	435.2Cr	784.4Cr
Net Income to Company	475.8Cr	300.8Cr	552.2Cr	435.2Cr	784.4Cr
Net Income - (IS)	475.8Cr	300.8Cr	552.2Cr	435.2Cr	784.4Cr
Net Income to Common Incl Extra Items	475.8Cr	300.8Cr	552.2Cr	435.2Cr	784.4Cr
Net Income to Common Excl. Extra Items	475.8Cr	300.8Cr	552.2Cr	435.2Cr	784.4Cr
Per Share Items
Net EPS - Basic	73	46	84.45	66.64	122.21
Basic EPS - Continuing Operations	73	46	84.45	66.64	122.21
Basic Weighted Average Shares Outstanding	6.52Cr	6.54Cr	6.54Cr	6.53Cr	6.42Cr
Net EPS - Diluted	72.21	45.54	83.65	66.02	121.36
Diluted EPS - Continuing Operations	72.21	45.54	83.65	66.02	121.36
Diluted Weighted Average Shares Outstanding	6.59Cr	6.6Cr	6.6Cr	6.59Cr	6.46Cr
Normalized Basic EPS	48.45	44.65	73.91	51.14	90.49
Normalized Diluted EPS	47.93	44.21	73.21	50.67	89.86
American Depositary Receipts Ratio (ADR)	0.1	0.1	0.1	0.1	0.1
Supplemental Items
EBITDA	656.5Cr	326.6Cr	671.9Cr	556.1Cr	739Cr
EBITA	644.4Cr	310.2Cr	646.5Cr	537.6Cr	715.7Cr
EBIT	633.5Cr	301.8Cr	639.5Cr	532.1Cr	707.9Cr
EBITDAR	656.8Cr	326.7Cr	-	-	-
Effective Tax Rate - (Ratio)	19.41	24.48	21.51	22.8	14.4
Current Domestic Taxes	119.1Cr	97Cr	149.8Cr	-	-
Total Current Taxes	119.1Cr	97Cr	149.8Cr	130.1Cr	179.9Cr
Deferred Domestic Taxes	-4.5Cr	70L	1.5Cr	-	-
Total Deferred Taxes	-4.5Cr	70L	1.5Cr	-1.6Cr	-48Cr
Normalized Net Income	315.81Cr	292Cr	483.25Cr	334Cr	580.81Cr
Interest on Long-Term Debt	1Cr	1.3Cr	2.1Cr	2.7Cr	12Cr
Supplemental Operating Expense Items
General and Administrative Expenses	66Cr	-	-	-	-
Research And Development Expense From Footnotes	313.7Cr	418.1Cr	556.2Cr	763Cr	974.8Cr
Net Rental Expense, Total	30L	10L	-	-	-
Imputed Operating Lease Interest Expense	10L	3L	-	-	-
Imputed Operating Lease Depreciation	20.4L	7L	-	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	20Cr	31Cr	44Cr	59Cr	72Cr
Total Stock-Based Compensation	20Cr	31Cr	44Cr	59Cr	72Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	726Cr	895.7Cr	989.3Cr	1.49TCr	985.8Cr
Short Term Investments	881.9Cr	1.04TCr	1.24TCr	1.33TCr	1.12TCr
Total Cash And Short Term Investments	1.61TCr	1.93TCr	2.23TCr	2.81TCr	2.11TCr
Accounts Receivable, Total	246.3Cr	336.7Cr	591Cr	494.7Cr	659Cr
Other Receivables	25Cr	3.1Cr	14Cr	-	10Cr
Total Receivables	271.2Cr	339.8Cr	605.3Cr	494.7Cr	669.1Cr
Inventory	-	-	-	5.7Cr	6.2Cr
Total Current Assets	1.88TCr	2.27TCr	2.84TCr	3.31TCr	2.79TCr
Gross Property Plant And Equipment	100Cr	134.3Cr	181.7Cr	231.7Cr	272.8Cr
Accumulated Depreciation	-26Cr	-37Cr	-50Cr	-68Cr	-84Cr
Net Property Plant And Equipment	74Cr	98Cr	132.2Cr	164.1Cr	189.1Cr
Long-term Investments	108.1Cr	37Cr	13Cr	13Cr	23Cr
Goodwill	-	-	-	-	253.5Cr
Other Intangibles, Total	34Cr	25Cr	15Cr	10Cr	1.23TCr
Accounts Receivable Long-Term	2Cr	2.7Cr	4.8Cr	6.2Cr	5.2Cr
Deferred Tax Assets Long-Term	18Cr	26Cr	25Cr	21Cr	91Cr
Total Assets	2.11TCr	2.46TCr	3.03TCr	3.53TCr	4.58TCr
Liabilities
Accounts Payable, Total	-	35Cr	-	-	-
Accrued Expenses, Total	-	30Cr	-	-	-
Current Portion of Leases	4.2Cr	6.2Cr	7.4Cr	9Cr	9.2Cr
Current Income Taxes Payable	-	-	-	5.4Cr	171Cr
Unearned Revenue Current, Total	2.6Cr	2.6Cr	3.3Cr	3.3Cr	2.4Cr
Other Current Liabilities	118.5Cr	83Cr	171.6Cr	230.7Cr	348.2Cr
Total Current Liabilities	125.3Cr	156.8Cr	182.3Cr	248.4Cr	530.8Cr
Long-Term Leases	28Cr	36Cr	52Cr	68Cr	94Cr
Unearned Revenue Non Current	49Cr	49Cr	48Cr	48Cr	48Cr
Deferred Tax Liability Non Current	-	-	-	-	235.9Cr
Other Non Current Liabilities	50L	1.3Cr	1.1Cr	3.5Cr	3Cr
Total Liabilities	202.2Cr	243.1Cr	283.7Cr	367.9Cr	911.4Cr
Common Stock, Total	6.6Cr	6.6Cr	6.6Cr	6.6Cr	6.6Cr
Additional Paid In Capital	1.19TCr	1.2TCr	1.23TCr	1.25TCr	1.26TCr
Retained Earnings	710.7Cr	1TCr	1.5TCr	1.9TCr	2.36TCr
Comprehensive Income and Other	5.4Cr	8.1Cr	9.8Cr	6Cr	49Cr
Total Common Equity	1.91TCr	2.22TCr	2.74TCr	3.16TCr	3.67TCr
Total Equity	1.91TCr	2.22TCr	2.74TCr	3.16TCr	3.67TCr
Total Liabilities And Equity	2.11TCr	2.46TCr	3.03TCr	3.53TCr	4.58TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	6.54Cr	6.54Cr	6.54Cr	6.53Cr	6.35Cr
ECS Total Common Shares Outstanding	6.54Cr	6.54Cr	6.54Cr	6.53Cr	6.35Cr
Book Value / Share	292.31	339.23	419.77	483.85	577.54
Tangible Book Value	1.88TCr	2.19TCr	2.73TCr	3.15TCr	2.18TCr
Tangible Book Value Per Share	287.14	335.35	417.54	482.3	343.39
Total Debt	32Cr	42Cr	60Cr	77Cr	102.9Cr
Net Debt	-1.58TCr	-1.89TCr	-2.17TCr	-2.74TCr	-2.01TCr
Debt Equivalent Oper. Leases	2.4Cr	80L	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	-	-	-	1.4Cr	40L
Inventories - Finished Goods, Total	-	-	-	5.9Cr	7.9Cr
Machinery, Total	42Cr	54Cr	65Cr	91Cr	99Cr
Full Time Employees	781	1.21T	1.66T	2.2T	2.68T

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	475.8Cr	300.8Cr	552.2Cr	435.2Cr	784.4Cr
Depreciation & Amortization - CF	16Cr	22Cr	33Cr	18Cr	34Cr
Amortization of Goodwill and Intangible Assets - (CF)	11Cr	8.4Cr	7Cr	5.5Cr	7.8Cr
Depreciation & Amortization, Total	27Cr	30Cr	40Cr	24Cr	41Cr
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-87Cr	69Cr	66Cr	-29Cr	-25Cr
Asset Writedown & Restructuring Costs	2.9Cr	-	3.8Cr	-	12Cr
Stock-Based Compensation (CF)	20Cr	31Cr	44Cr	59Cr	72Cr
Other Operating Activities, Total	106.6Cr	-131.3Cr	-121.4Cr	113.3Cr	-34Cr
Change In Accounts Receivable	31Cr	-107.4Cr	-221.3Cr	80Cr	-159Cr
Change In Inventories	-	-	-	-5.7Cr	-50L
Change In Accounts Payable	17Cr	30Cr	28Cr	62Cr	86Cr
Change in Unearned Revenues	51Cr	-	-	-	-
Change in Other Net Operating Assets	-	-	-	-	-
Cash from Operations	643.3Cr	222.8Cr	391.2Cr	738Cr	777.1Cr
Capital Expenditure	-31Cr	-25Cr	-32Cr	-37Cr	-19Cr
Cash Acquisitions	-	-	-	-	-1.22TCr
Sale (Purchase) of Intangible assets	-	-	-	-1Cr	-12Cr
Investment in Marketable and Equity Securities, Total	-204.4Cr	-71Cr	-244.4Cr	-91Cr	264.3Cr
Cash from Investing	-235.1Cr	-96Cr	-276.1Cr	-128.2Cr	-990.7Cr
Long-Term Debt Repaid, Total	-4.4Cr	-5.8Cr	-7.3Cr	-9.1Cr	-6Cr
Total Debt Repaid	-4.4Cr	-5.8Cr	-7.3Cr	-9.1Cr	-6Cr
Issuance of Common Stock	14Cr	14Cr	28Cr	15Cr	13Cr
Repurchase of Common Stock	-2.5Cr	-50Cr	-100Cr	-67Cr	-398.8Cr
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	7.1Cr	-42Cr	-79Cr	-61Cr	-391.9Cr
Foreign Exchange Rate Adjustments	-44Cr	85Cr	57Cr	-52Cr	104.6Cr
Net Change in Cash	370.8Cr	169.7Cr	94Cr	497.4Cr	-500.9Cr
Supplemental Items
Cash Interest Paid	2Cr	1.2Cr	1.6Cr	2.5Cr	3.5Cr
Cash Income Tax Paid (Refund)	147.6Cr	74Cr	158.3Cr	106.7Cr	34Cr
Levered Free Cash Flow	468.91Cr	184.91Cr	209.18Cr	529.38Cr	625.24Cr
Unlevered Free Cash Flow	469.54Cr	185.72Cr	210.49Cr	531.06Cr	632.74Cr
Change In Net Working Capital	-58Cr	39Cr	241.2Cr	-153.5Cr	-107.3Cr
Net Debt Issued / Repaid	-4.4Cr	-5.8Cr	-7.3Cr	-9.1Cr	-6Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	21.82	8.24	14.56	10.17	10.91
Return on Total Capital	23.52	8.97	15.78	11.04	12.62
Return On Equity %	28.69	14.56	22.25	14.78	22.97
Return on Common Equity	28.69	14.56	22.25	14.78	22.97
Margin Analysis
Gross Profit Margin %	100	100	100	98.63	95.42
SG&A Margin	6.54	15.13	18.34	20.01	17.61
EBITDA Margin %	64.93	38.5	46.04	33.76	34.33
EBITA Margin %	63.73	36.57	44.3	32.63	33.25
EBIT Margin %	62.65	35.58	43.82	32.3	32.89
Income From Continuing Operations Margin %	47.06	35.46	37.83	26.42	36.44
Net Income Margin %	47.06	35.46	37.83	26.42	36.44
Net Avail. For Common Margin %	47.06	35.46	37.83	26.42	36.44
Normalized Net Income Margin	31.23	34.43	33.11	20.27	26.98
Levered Free Cash Flow Margin	46.38	21.8	14.33	32.13	29.05
Unlevered Free Cash Flow Margin	46.44	21.9	14.42	32.24	29.39
Asset Turnover
Asset Turnover	0.56	0.37	0.53	0.5	0.53
Fixed Assets Turnover	17.58	9.91	12.71	11.12	12.19
Receivables Turnover (Average Receivables)	3.71	2.91	3.15	3.09	3.73
Inventory Turnover (Average Inventory)	-	-	-	-	16.55
Short Term Liquidity
Current Ratio	15	14.5	15.57	13.34	5.25
Quick Ratio	15	14.5	15.57	13.32	5.24
Operating Cash Flow to Current Liabilities	5.13	1.42	2.15	2.97	1.46
Days Sales Outstanding (Average Receivables)	98.69	125.44	116	118.08	98.08
Days Outstanding Inventory (Average Inventory)	-	-	-	-	22.11
Long Term Solvency
Total Debt/Equity	1.67	1.91	2.18	2.44	2.8
Total Debt / Total Capital	1.64	1.88	2.13	2.38	2.73
LT Debt/Equity	1.45	1.64	1.91	2.15	2.55
Long-Term Debt / Total Capital	1.42	1.6	1.87	2.1	2.48
Total Liabilities / Total Assets	9.56	9.87	9.37	10.43	19.89
EBIT / Interest Expense	633.5	232.15	304.52	197.07	58.99
EBITDA / Interest Expense	660.1	255.54	323.48	205.96	62.43
(EBITDA - Capex) / Interest Expense	629.4	236.15	308.38	192.41	60.88
Total Debt / EBITDA	0.05	0.13	0.09	0.14	0.14
Net Debt / EBITDA	-2.39	-5.69	-3.2	-4.92	-2.68
Total Debt / (EBITDA - Capex)	0.05	0.14	0.09	0.15	0.14
Net Debt / (EBITDA - Capex)	-2.5	-6.16	-3.36	-5.27	-2.75
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	88.43	-16.11	72.07	13.57	30.67
Gross Profit, 1 Yr. Growth %	88.43	-16.11	72.07	12.02	26.42
EBITDA, 1 Yr. Growth %	136.41	-50.25	105.73	-14.72	33.66
EBITA, 1 Yr. Growth %	135.44	-51.86	108.41	-15.67	33.93
EBIT, 1 Yr. Growth %	140.14	-52.36	111.9	-15.61	33.04
Earnings From Cont. Operations, 1 Yr. Growth %	119.67	-36.78	83.58	-20.18	80.24
Net Income, 1 Yr. Growth %	119.67	-36.78	83.58	-20.18	80.24
Normalized Net Income, 1 Yr. Growth %	77.3	-7.54	65.5	-30.07	73.9
Diluted EPS Before Extra, 1 Yr. Growth %	112.2	-36.93	83.68	-20.06	83.82
Accounts Receivable, 1 Yr. Growth %	-17.63	36.7	75.53	-13.39	33.21
Inventory, 1 Yr. Growth %	-	-	-	-	8.77
Net Property, Plant and Equip., 1 Yr. Growth %	77.78	32.47	35.59	24.13	15.23
Total Assets, 1 Yr. Growth %	39.61	16.48	22.95	17.17	29.82
Tangible Book Value, 1 Yr. Growth %	38.33	16.82	24.4	16.12	-30.75
Common Equity, 1 Yr. Growth %	36.11	16.08	23.63	15.86	16.09
Cash From Operations, 1 Yr. Growth %	385.14	-65.37	75.58	88.65	5.3
Capital Expenditures, 1 Yr. Growth %	288.61	-17.92	25.79	15.46	-48.91
Levered Free Cash Flow, 1 Yr. Growth %	618.78	-60.57	13.12	163.04	17.48
Unlevered Free Cash Flow, 1 Yr. Growth %	614.94	-60.45	13.33	162.17	17.92
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	82.82	25.73	20.14	39.9	21.82
Gross Profit, 2 Yr. CAGR %	82.82	25.73	20.14	38.94	19
EBITDA, 2 Yr. CAGR %	111.47	8.45	1.34	32.93	6.18
EBITA, 2 Yr. CAGR %	111.54	6.46	0.33	33.05	5.69
EBIT, 2 Yr. CAGR %	114.26	6.96	0.65	34.23	6.28
Earnings From Cont. Operations, 2 Yr. CAGR %	79.79	17.84	7.73	21.32	19.95
Net Income, 2 Yr. CAGR %	79.79	17.84	7.73	21.32	19.95
Normalized Net Income, 2 Yr. CAGR %	76.45	28.04	23.97	7.7	10.56
Diluted EPS Before Extra, 2 Yr. CAGR %	74.44	15.68	7.63	21.44	21.22
Accounts Receivable, 2 Yr. CAGR %	36.24	6.12	54.9	21.21	7.41
Net Property, Plant and Equip., 2 Yr. CAGR %	113.15	53.46	34.02	29.73	19.6
Total Assets, 2 Yr. CAGR %	58.08	27.52	19.67	19.71	23.33
Tangible Book Value, 2 Yr. CAGR %	57.79	27.12	20.55	19.83	-10.33
Common Equity, 2 Yr. CAGR %	54.47	25.7	19.8	19.34	15.98
Cash From Operations, 2 Yr. CAGR %	151.75	29.62	-22.02	82	40.94
Capital Expenditures, 2 Yr. CAGR %	106.49	78.6	1.62	20.51	-23.19
Levered Free Cash Flow, 2 Yr. CAGR %	2.07T	68.36	-33.11	76.54	71.59
Unlevered Free Cash Flow, 2 Yr. CAGR %	2.07T	68.16	-32.95	76.4	71.64
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	62.29	41.01	39.59	17.67	36.75
Gross Profit, 3 Yr. CAGR %	62.29	41.01	39.59	17.13	34.63
EBITDA, 3 Yr. CAGR %	66.83	30.55	34.25	-5.28	32.92
EBITA, 3 Yr. CAGR %	66.28	29.15	33.18	-5.75	33.07
EBIT, 3 Yr. CAGR %	66.75	29.8	34.33	-5.54	33.83
Earnings From Cont. Operations, 3 Yr. CAGR %	62.76	26.9	36.61	-2.93	38.43
Net Income, 3 Yr. CAGR %	62.76	26.9	36.61	-2.93	38.43
Normalized Net Income, 3 Yr. CAGR %	65.95	42.25	39.47	2.03	26.35
Diluted EPS Before Extra, 3 Yr. CAGR %	59.58	24.27	34.96	-2.94	39.43
Accounts Receivable, 3 Yr. CAGR %	62.03	36.39	25.5	26.17	25.09
Net Property, Plant and Equip., 3 Yr. CAGR %	86.52	81.9	47.26	30.64	24.71
Total Assets, 3 Yr. CAGR %	47.39	42.78	25.98	18.62	22.99
Tangible Book Value, 3 Yr. CAGR %	45.1	42.74	26.21	18.82	-0.19
Common Equity, 3 Yr. CAGR %	45	40.43	25.01	18.24	18.25
Cash From Operations, 3 Yr. CAGR %	59.38	29.96	43.42	4.68	51.65
Capital Expenditures, 3 Yr. CAGR %	51.37	51.83	58.91	6.03	-9.47
Levered Free Cash Flow, 3 Yr. CAGR %	60.14	471.03	47.46	4.23	54.4
Unlevered Free Cash Flow, 3 Yr. CAGR %	60.13	471.86	47.44	4.29	54.77
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	54.92	36.1	43.9	40.35	32.03
Gross Profit, 5 Yr. CAGR %	54.92	36.1	43.9	39.96	30.8
EBITDA, 5 Yr. CAGR %	62.13	24.46	36.58	30.52	21.62
EBITA, 5 Yr. CAGR %	62.04	23.4	35.76	30.14	21.2
EBIT, 5 Yr. CAGR %	62.79	23.44	36.16	30.99	21.83
Earnings From Cont. Operations, 5 Yr. CAGR %	44.19	20.44	37.99	24.21	29.35
Net Income, 5 Yr. CAGR %	44.19	20.44	37.99	24.21	29.35
Normalized Net Income, 5 Yr. CAGR %	52.59	32.61	47.55	26.91	26.67
Diluted EPS Before Extra, 5 Yr. CAGR %	41.88	18.83	36.32	22.71	28.96
Accounts Receivable, 5 Yr. CAGR %	69.77	28.11	59.14	30.11	17.12
Net Property, Plant and Equip., 5 Yr. CAGR %	91.19	97.81	63.42	58.9	35.5
Total Assets, 5 Yr. CAGR %	40.21	36.28	35.61	33.06	24.78
Tangible Book Value, 5 Yr. CAGR %	41.65	36.41	34.73	33.1	9.95
Common Equity, 5 Yr. CAGR %	40.55	35.68	34.34	31.58	21.17
Cash From Operations, 5 Yr. CAGR %	83.23	46.72	19.74	48.7	42.43
Capital Expenditures, 5 Yr. CAGR %	100.63	83.07	29.07	38.43	18.81
Levered Free Cash Flow, 5 Yr. CAGR %	172.87	85.22	12.87	251.04	57.15
Unlevered Free Cash Flow, 5 Yr. CAGR %	173.08	85.44	12.98	251.26	57.31