QualityDipStocks / Health Care · Pharmaceuticals
Genmab A/S ADS GMAB
Not in a dip: trading near its 52-week high.
A quality company trading near our fair value estimate.
- Fair value est.
- $56.54−1%
- Market Value
- —
- Off 52-wk high
- at the high
- Risk vs market
- Below marketbeta 0.89
5 bullish · 5 bearish See why
Key levels
Every level vs today’s $57.06
- 52-wk lowlowest close, 1 year$23.85−58.2%
- Fair value est.base case$56.54−0.9%
- PriceFri Oct 30 close$57.06you are here
- 52-wk highhighest close, 1 year$57.29+0.4%
Fair value estimate
How the range is computed
Ten-year free-cash-flow DCF. Same 10-year free-cash-flow model as the base: discount rate 9.5% ±1 point and growth 15.0% ±2 points. Bear = 10.5% and 13.0%; bull = 8.5% and 17.0% (both fade to 3%). A model estimate from public filings, not a forecast of where the price will go.
Price sits inside the range.
What the price implies To be worth today’s price, GMAB’s free cash flow would need to grow about 15% a year for five years; our estimate uses 15%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 30 to Oct 30, 252 sessions). Beta = how much GMAB moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Moves a bit less than the market, and its own price swings are 3.5× the S&P 500’s.
- Beta vs S&P 500
- 0.89
- Volatility
- 45% vs 13% SPY
- Correlation SPY
- 0.25
- Correlation QQQ
- 0.19
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 5 of 5
GrowthSales compounded 25% a year from FY2023 to FY2025.
GrowthSales grew 19% to $3.7B over the last 12 months vs the 12 months before (SEC filings).
ProfitabilityOperating margin of 29% over the last 12 months.
Balance sheetNet cash of $1.4B: cash and short-term investments exceed debt (Dec 31, 2025).
QualityPasses all four of our quality checks: cash generation, returns on capital, growth and balance sheet.
Top bearish points 5 of 5
ProfitabilityGross margin narrowed to 93.6% in FY2025 from 98.6% in FY2023 (SEC filings).
ProfitabilityOperating margin narrowed to 28.6% in FY2025 from 32.3% in FY2023 (SEC filings).
GrowthDiluted EPS fell 12% in the last fiscal year, below the 7.3% median for the 74 Health Care companies we cover.
TechnicalRSI(14) of 88: overbought after a strong run.
RiskReports earnings Nov 5 (consensus EPS $0.36): results can move the price sharply and reset Market Value.
Who’s talking about it
Notable investors, executives, analysts and public figures on Genmab A/S ADS in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 1, 9:09 PM ET.
Compare with peers
Closest in size in Pharmaceuticals
All fundamentals
P/E 37.1 · FCF yield 3.2% · ROE 18%
Valuation
- P/E
- 37.1×Health Care median 29.2×
- Price / FCF
- 31.1×
- FCF yield
- 3.2%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 9.62×
- Price / book
- 6.12×
- Market cap
- $35.8Bprice × diluted shares
- Enterprise value
- $34.3B
Growth
- Revenue, 12 months
- $3.7B
- Sales growth, 12 months
- +19.2%vs the 12 months before
- Sales growth, 3 yrs
- +24.8%/yrfrom FY2023
- Diluted EPS, 12 months
- $15.37
- EPS growth, last FY
- −12.3%
- Net income, 12 months
- $963M
- Net income growth
- −15%12 months vs before
Profitability
- Gross margin
- 93.6%
- Operating margin
- 28.6%
- Net margin
- 25.9%
- FCF margin
- 30.9%
- Return on equity
- 18%
- Return on invested capital
- 19%
Balance sheet
- Cash & short-term inv.
- $1.7B
- Total debt
- $273M
- Net cash
- $1.4B
- Debt / equity
- 0.05×
- Interest coverage
- 4.0×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- $1.1B
- FCF growth, 12 months
- +5%
- Dividend yield
- 0%
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- n/anot reported in its SEC filings
- Share count, 1 year
- n/ano quarterly diluted share count
- Stock-based comp
- n/anot reported in its SEC filings
Trailing 12 months to Dec 31, 2025; balance sheet at Dec 31, 2025. From Genmab A/S ADS’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
Valuation details
DCF $56.54 · FCF value $35.16
Assumes 15.0% growth for 5 years (revenue grew 24.8% a year FY23–FY25; capped at 15%), fading to 3%; 9.5% discount rate, 3% terminal growth. FCF base $1.83 a share (fiscal year to Dec 31, 2025, 0.1 shares per ADR), from the 20-F filed Feb 17, 2026. Net debt $3.8B, not deducted.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only arm once a company is in a dip.
Momentum & 52-week range
RSI 88 · 5 days +30.3%
The business
FCF $0.9B · Sales +25%
- Free cash flow, 12 months$0.9B
- Free-cash-flow yield2.5%
- Free-cash-flow margin21%
- Gross margin93%
- Operating margin32%
- Return on invested capital10%
- Return on equity14%
- Sales growth (latest quarter vs year-ago quarter)+25%
- Net debt / EBITDA3.0×
Next report
Nov 5
- DateThu Nov 5, before the open
- Consensus EPS$0.36
- Year-ago EPS$0.65
- QuarterSep/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.
Get a text when GMAB fires a reversal signal
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