GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB
Genmab A/S (NAS:GMAB)
[1]
Modestly Undervalued[5]$ 30.43
GF Score: 98/100Market Cap: $ 20,003 Mil
Industry: Healthcare - Biotechnology
Genmab A/S is a biotechnology company which creates and develops differentiated antibody therapeutics focused on the treatment of cancer. Its marketed product includes DARZALEX and Arzerra.
GF Value Rank
Rank: 10 /10CurrentIndustry MedianHistorical Median
PE Ratio60.7727.0663.78
Forward P/E50.6618.73N/A
PB Ratio6.332.259.04
PS Ratio16.0311.1520.40
P/FCF107.0228.5280.14
Shiller P/E86.8440.72149.68
PEG Ratio1.691.591.08
Valuation Analysis
Current% of Price
NCAV4.4415
Tangible Book4.7616
Graham Number7.3224
EPV8.6628
Peter Lynch Value12.5241
Price30.43
GF Value39.61130
Median PS Value44.86147
Dividend & Ownership
Dividend Yield (TTM) %N/A
Dividend Yield (Forward) %N/A
Dividend Payout RatioN/A
Dividend Growth (5Y) %N/A
Yield on Cost (5Y) %N/A
Continuous Div. since0
Insider Ownership %N/A
Institution Ownership %4.82
Financial Strength
Rank: 9 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt48.0512.48103.63
Equity-to-Asset0.910.750.87
Interest Coverage4.36170.81376.86
Piotroski F-Score535
Profitability Rank
Rank: 9 /10CurrentIndustry MedianHistorical Median
Operating Margin %33.26-208.0547.39
Net Margin %26.35-199.4443.53
ROE %11.15-39.2121.08
ROA %10.05-31.6318.50
ROC (Joel Greenblatt) %169.97-497.85273.36
Growth Rank(* per share data)
Rank: 10 /1010-Yr5-Yr1-Yr
Revenue Growth %35.641.3-16.7
EBITDA Growth %N/A35.9-51.7
Oprt. Income Growth %N/A33.1-55.9
EPS w/o NRI Growth %N/A28.9-57.5
FCF Growth %N/A49.3-75.2
Book Value Growth %48.436.312.5
Momentum Rank
Rank: 8 /10CurrentIndustry MedianHistorical Median
5-Day RSI53.5044.62N/A
9-Day RSI42.8041.89N/A
14-Day RSI40.1241.20N/A
6-1M Momentum %-8.63-29.56N/A
12-1M Momentum %-0.50-39.63N/A
Quarterly
Mar21Jun21Sep21Dec21Mar22
Revenue253.03319.48365.47397.96313.81
Net Income175.4149.57140.81108.8068.86
EPS0.270.080.210.160.10
Revenue YoY %91.89-61.1933.8719.0724.02
Net Income YoY %341.10-90.2867.7714.52-60.74
EPS YoY %343.33-90.3267.7214.69-60.90
Free Cash Flow185.1744.7158.5426.2978.49
Cash & Equiv.2,8942,8962,9652,9382,960
Current Assets3,1913,2893,4733,4553,432
Short-Term Debt & CLO8.329.569.979.428.89
Current Liabilities206.94218.87289.53238.26198.30
Total Liabilities338.49361.44427.17369.40325.06
Stockholders Equity3,2163,2813,3683,3733,365
Warning Signs
SEVEREOperating Margin %: Declined
Good Signs
GOODFinancial Strength: Strong Financial Strength
GOODAltman Z-Score: Strong
GOODBeneish M-Score: Unlikely manipulator
As of 05-20-2022
* All financial numbers are in millions except for per share data, ratios and percentage change.
%GainSP500
1W7.45-0.73
1M-19.69-12.49
3M-5.50-10.03
6M-26.62-16.39
YTD-23.08-17.75
1Y-20.09-3.96
3Y20.9312.66
5Y7.3612.26
10Y46.8213.75
48.72
24.04
0.65
1M
0.6M
2012201320142015201620172018201920202021CurrentPerformance
1.574.635.8613.9317.8923.8820.1524.4241.1446.6349.07Highest Stock Price
0.631.432.985.239.0216.4812.2314.2818.9828.6027.42Lowest Stock Price
7042,0243,3387,9779,98910,12810,10614,49526,59725,99820,003Market Cap
460.4519.1572.5607.7617.7620.9620.5636.4658.9660.5659.6Shares Outstanding-Diluted
At Loss98.1568.5073.0561.0357.9144.9943.5434.1157.7560.77PE Ratio
10.4516.719.9215.6714.6010.158.276.948.517.716.33PB Ratio
7.3916.5824.2649.2139.8927.0221.9017.5716.0520.4816.03PS Ratio
-25.10117.1556.9464.7656.9838.6034.9128.4123.5536.2732.35EV-to-EBITDA
2012201320142015201620172018201920202021TTMPer Share Data
0.190.240.250.270.420.610.741.252.511.952.11Revenue per Share
-0.190.040.090.180.270.280.360.511.180.690.56Earnings per Share
0.02-0.050.020.040.070.380.130.281.520.460.32Free Cash Flow per Share
----------------------Dividends per Share
0.130.230.570.811.091.601.883.114.705.075.07Tangible Book per Share
------------14.2627.2657.5845.5844.86Median PS Value
--0.361.061.822.593.193.915.9511.178.897.96Graham Number
2012201320142015201620172018201920202021TTMIncome Statement
85.23121.94140.91165.34257.52376.08461.28798.171,6531,2891,397Revenue
85.23121.94140.91165.34257.52376.08461.28798.171,6531,2891,397Gross Profit
----------------------Gross Margin %
105.75109.2196.9758.76108.23162.36250.84405.78621.06830.27929.36Total Operating Expense
-20.5212.7343.94106.58149.29213.72210.43392.391,032458.59467.36Operating Income
-24.0810.4431.1864.4657.9756.8345.6249.1662.4435.5833.46Operating Margin %
-85.6620.6549.92111.41168.32175.56224.46322.18778.04457.07368.04Net Income
-100.5116.9335.4367.3965.3646.6848.6640.3747.0635.4626.35Net Margin %
-19.5812.6349.94110.56160.29225.49245.81426.30967.07607.20598.15EBIT
-16.9314.7751.98115.20166.10236.62259.23446.981,009644.89598.15EBITDA
-111.6521.9021.8026.3528.2120.8820.2319.4629.8314.0711.08ROE %
-29.826.7012.5921.3325.6519.5919.1818.1927.2512.709.99ROA %
2012201320142015201620172018201920202021Mar22Balance Sheet
11.7830.9059.50127.5343.53214.2981.28528.341,1871,3611,343Cash & Equivalents
297.71318.19475.00569.47742.761,0501,2902,2533,4573,7423,690Total Assets
0.660.390.040.02------3.876.879.428.89Short-Term Debt & CLO
0.330.070.02--------23.0645.3055.1652.72Long-Term Debt & CLO
230.32196.99138.1560.6858.3552.6068.16163.02330.64369.40325.06Total Liabilities
67.39121.20336.85508.79684.40997.411,2222,0903,1273,3733,365Total Stockholders Equity
67.39121.20336.85508.79684.40997.411,2222,0903,1273,3733,365Total Equity
2012201320142015201620172018201920202021TTMCashflow Statement
12.47-23.5221.9845.4546.47252.68154.78197.241,052338.55251.78Cash Flow from Operations
-73.2212.30-167.46-70.17-143.86-106.23-271.12-294.96-384.44-146.03-151.44Cash Flow from Investing
62.9227.87171.5693.8412.9334.19-10.83544.4111.61-63.82-42.13Cash Flow from Financing
1.6916.3831.6475.13-80.39165.54-124.28449.06606.34257.86189.96Net Change in Cash
13.8930.9059.50127.5343.53214.3681.28528.341,1871,3611,343Ending Cash Position
-1.58-1.90-12.50-19.76-4.69-14.15-72.89-16.51-50.20-38.29-43.75Capital Expenditure
10.89-25.439.4825.6941.77238.5381.89180.731,002300.26208.03Free Cash Flow
Competitor
TickerCompanyMarket Cap
($M)
PE RatioGF Score
/100
Financial
Strength /10
Profitability
Rank /10
GF Value
Rank /10
Growth
Rank /10
Momentum
Rank /10
SHSE:603392Beijing Wantai Biological Pharmacy Enterprise Co Ltd22,58348.0958990100
SZSE:300122Chongqing Zhifei Biological Products Co Ltd22,01612.92898102105
NAS:GMABGenmab A/S20,00360.77989910108
XBRU:UCBUCB SA17,71216.286588133
NAS:RPRXRoyalty Pharma PLC17,38627.832755000
GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Financial Strength[2] (Quarterly data, as of Mar. 2022) : Good (9/10)

0
1
2
3
4
5
6
7
8
9

Cash-to-Debt : 48.05

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.91

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 0.02

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 5

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

0
1
2
3
4
5
6
7
8
9


WACC : 9.54% vs ROIC : 65.23%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 0.00%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Profitability[3] (Annual data, as of Dec. 2021) : Good (9/10)

0
1
2
3
4
5
6
7
8
9

Revenue : $314 Mil vs Net Income : $69 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $1,343 Mil vs Long-Term Debt* : $53 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Operating Margin % : 24.26%

Operating margin % measures how much profit a company makes on a dollar of sales. Operating Margin % is calculated as Operating Income divided by Revenue.


EPS without NRI : $0.10

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.00

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $0.12

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Valuation (Quarterly data, as of Mar. 2022)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $30.43)


PE Ratio without NRI : 68.51

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 7.07

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 18.06

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 120.67

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-EBIT : 37.12

Enterprise value of a company divided by its trailing 12 months earnings before interest and taxes (EBIT).

GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Severe Warning Signs

Operating Margin % : Declined

Genmab A/S operating margin has been in 5-year decline. The average rate of decline per year is -5.8%.

Good Signs

Financial Strength : Strong Financial Strength

Genmab A/S shows strong financial strength.

Altman Z-Score : Strong

Altman Z-score of 40.71 is strong.

Beneish M-Score : Unlikely manipulator

Beneish M-Score -2.15 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

Price : Close to 1-year low

Genmab A/S stock Price is close to 1-year low

PB Ratio : Close to 5-year low

Genmab A/S stock PB Ratio (=6.15) is close to 5-year low of 5.6

PS Ratio : Close to 1-year low

Genmab A/S stock PS Ratio (=15.58) is close to 1-year low of 14.58

Medium Warning Signs

Revenue per Share : Declined

Genmab A/S revenue per share is in decline over the past 12 months.
GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Competitive Comparison


5 Year Price Change Comparison


Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
SHSE:603392Beijing Wantai Biological Pharmacy Enterprise Co Ltd9/104.870.640.06480.91631.01-0.317.8198.92
NAS:GMABGenmab A/S9/1048.050.910.024.36540.71-2.159.5465.23
NAS:INCYIncyte Corp9/1057.710.760.01277.7349.54-1.876.4855.49
SZSE:300122Chongqing Zhifei Biological Products Co Ltd8/100.820.630.12364.61711.34-0.7214.3781.67
NAS:SGENSeagen Inc8/1036.430.830.02N/A225.47-2.454.56-64.09
XBRU:UCBUCB SA8/100.700.590.2529.3883.11-2.422.6910.39
XBRU:ARGXargenx SE8/10203.810.890.010.00334.0515.414.79-107.20
HKSE:06160BeiGene Ltd6/109.300.730.110.0033.08-1.657.65-117.80
NAS:RPRXRoyalty Pharma PLC5/100.410.331.238.0842.24-2.826.469.97
NAS:ALNYAlnylam Pharmaceuticals Inc4/102.250.122.480.0050.99-2.875.82-57.30

Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
SZSE:300122Chongqing Zhifei Biological Products Co Ltd10/1037.9331.4773.6243.2041.88109.2980.3089.9091.60
SHSE:603392Beijing Wantai Biological Pharmacy Enterprise Co Ltd9/1047.0137.8376.9451.11162.60138.9671.8079.0081.50
NAS:GMABGenmab A/S9/1033.2626.3511.1510.05107.02169.9738.1032.9024.30
XBRU:UCBUCB SA8/1022.8818.3113.617.8216.43111.13-15.40-17.20-13.50
NAS:INCYIncyte Corp6/1019.8729.9628.3721.4527.1481.2015.5052.70103.10
NAS:RPRXRoyalty Pharma PLC5/1062.3726.4410.773.5411.350.002.90-12.60-27.40
NAS:ALNYAlnylam Pharmaceuticals Inc3/10-76.04-101.47-126.66-25.780.00-102.74112.3011.001.70
HKSE:06160BeiGene Ltd3/10-222.43-218.09-41.44-28.750.00-312.2252.40-6.10-7.90
NAS:SGENSeagen Inc3/10-41.51-41.32-21.49-17.950.00-160.9527.70-30.70-37.90
XBRU:ARGXargenx SE3/10-78.01-88.07-18.03-15.490.00-2937.59137.20-35.80-52.30

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
NAS:ALNYAlnylam Pharmaceuticals IncAt Loss38.9417.540.000.000.200.000.00-5.130.00
HKSE:06160BeiGene LtdAt Loss2.3114.690.000.000.000.000.00-20.200.00
NAS:SGENSeagen IncAt Loss8.7715.6249.180.000.890.000.00-2.840.00
XBRU:ARGXargenx SEAt Loss6.8938.840.000.000.000.000.00-2.310.00
SZSE:300122Chongqing Zhifei Biological Products Co Ltd12.927.404.074.880.000.190.002.168.69-15.76
XBRU:UCBUCB SA16.282.012.981.380.001.850.0015.007.30-3.98
NAS:INCYIncyte Corp17.704.255.312.660.000.440.001.914.120.00
NAS:RPRXRoyalty Pharma PLC27.833.029.700.000.000.000.001.926.380.00
SHSE:603392Beijing Wantai Biological Pharmacy Enterprise Co Ltd48.0925.9018.6642.410.000.003.117.852.380.00
NAS:GMABGenmab A/S60.776.3316.033.060.000.682.434.163.0921.64
GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Per Share Data


Per Share Data

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
0.06
0.24
0.28
0.26
0.23
0.14
0.19
0.24
0.25
0.27
0.42
0.61
0.74
1.25
2.51
1.95
2.11
Revenue per Share
-0.19
-0.14
-0.21
-0.03
-0.02
-0.08
-0.04
0.03
0.09
0.19
0.27
0.38
0.42
0.70
1.53
0.98
0.90
EBITDA per Share
-0.20
-0.15
-0.24
-0.07
-0.03
-0.08
-0.04
0.02
0.09
0.18
0.26
0.36
0.40
0.67
1.47
0.92
0.90
EBIT per Share
-0.20
-0.17
-0.39
-0.44
-0.13
-0.24
-0.19
0.04
0.09
0.18
0.27
0.28
0.36
0.51
1.18
0.69
0.56
Earnings per Share (Diluted)
-0.20
-0.17
-0.33
-0.15
-0.06
-0.09
-0.04
0.03
0.09
0.18
0.27
0.28
0.36
0.51
1.18
0.69
0.56
EPS without NRI
--
--
--
--
--
--
-0.12
-0.05
0.02
0.04
0.06
0.33
0.17
0.18
1.39
0.46
0.26
Owner Earnings per Share (TTM)
-0.17
0.22
-0.70
-0.26
0.10
-0.18
0.02
-0.05
0.02
0.04
0.07
0.38
0.13
0.28
1.52
0.46
0.32
Free Cash Flow per Share
-0.17
0.23
-0.21
-0.25
0.11
-0.17
0.03
-0.05
0.04
0.08
0.08
0.41
0.25
0.31
1.60
0.51
0.38
Operating Cash Flow per Share
0.77
0.06
0.72
0.56
0.65
0.43
0.53
0.55
0.77
0.86
0.92
1.41
1.52
2.51
4.02
4.47
4.50
Cash per Share
0.72
1.26
0.89
0.57
0.43
0.19
0.13
0.23
0.59
0.86
1.14
1.63
1.99
3.22
4.78
5.13
5.12
Book Value per Share
0.72
1.26
0.76
0.57
0.43
0.19
0.13
0.23
0.57
0.81
1.09
1.60
1.88
3.11
4.70
5.07
5.07
Tangible Book per Share
0.01
0.01
0.01
0.01
0.05
0.01
0.00
0.00
--
--
--
--
--
0.04
0.08
0.10
0.09
Total Debt per Share
--
--
--
--
1.35
0.65
1.40
3.91
5.86
13.40
16.58
16.58
16.48
22.33
40.66
39.56
30.43
Month End Stock Price

Ratios

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
-33.55
-17.66
-36.44
-60.89
-25.59
-76.00
-112
21.90
21.80
26.35
28.21
20.88
20.23
19.46
29.83
14.07
11.08
ROE %
--
--
--
--
-8.10
-22.42
-10.68
1.31
2.20
1.68
1.93
2.06
2.45
2.80
3.51
1.82
1.76
ROE % Adjusted to Book Value
-28.87
-13.70
-25.64
-38.62
-13.03
-29.43
-29.82
6.70
12.59
21.33
25.65
19.59
19.18
18.19
27.25
12.70
9.99
ROA %
-33.55
-17.66
-38.73
-66.71
-25.59
-76.00
-112
21.95
22.33
27.61
29.55
21.46
21.10
20.33
30.56
14.27
11.23
Return-on-Tangible-Equity
-28.87
-13.70
-26.76
-40.89
-13.03
-29.43
-29.82
6.71
12.76
22.15
26.75
20.10
19.96
18.95
27.86
12.87
10.11
Return-on-Tangible-Asset
-1,232
-23.76
-30.10
-33.39
-154
-562
-380
289
1,186
2,614
361
316
226
161
278
161
171
ROC (Joel Greenblatt) %
-33.16
-15.23
-22.41
-9.58
-6.33
-23.78
-20.24
10.48
19.29
25.26
26.86
26.81
22.14
25.56
36.05
17.97
17.32
ROCE %
-320
-17.24
-22.93
-33.62
-15.82
-22.45
-10.98
7.61
33.51
116
130
137
85.22
76.57
149
57.10
65.25
ROIC %
--
--
--
17.56
9.61
7.26
6.17
6.05
3.14
7.17
7.99
8.71
4.80
4.95
8.29
9.76
9.54
WACC %
5.31
7.14
1,398
940
49.18
2.79
30.97
84.19
261
45.29
175
--
--
3.87
4.14
3.38
163
Effective Interest Rate on Debt %
--
--
101
--
-0.07
-51.74
--
--
--
--
--
--
--
--
--
--
-- Gross Margin %
-348
-62.69
-104
-84.98
-27.61
-71.07
-24.08
10.44
31.18
64.46
57.97
56.83
45.62
49.16
62.44
35.58
33.46
Operating Margin %
-323
-72.40
-139
-172
-55.23
-170
-101
16.93
35.43
67.39
65.36
46.68
48.66
40.37
47.06
35.46
26.35
Net Margin %
-310
-60.00
-74.60
-13.16
-10.61
-54.92
-19.86
12.12
36.89
69.68
64.50
62.92
56.20
56.00
61.05
50.04
42.83
EBITDA Margin %
-282
93.03
-249
-100
44.33
-127
12.78
-20.85
6.73
15.54
16.22
63.42
17.75
22.64
60.59
23.30
14.89
FCF Margin %
0.01
0.01
0.01
0.02
0.12
0.02
0.02
0.00
--
--
--
--
--
0.01
0.02
0.02
0.02
Debt-to-Equity
0.89
0.73
0.67
0.58
0.44
0.31
0.23
0.38
0.71
0.89
0.92
0.95
0.95
0.93
0.90
0.90
0.91
Equity-to-Asset
0.01
0.00
0.01
0.01
0.05
0.01
0.00
0.00
--
--
--
--
--
0.01
0.02
0.02
0.02
Debt-to-Asset
0.11
0.27
0.33
0.42
0.57
0.69
0.77
0.62
0.29
0.11
0.08
0.05
0.05
0.07
0.10
0.10
0.09
Liabilities-to-Assets
8.93
18.92
18.50
22.40
-0.02
-8.96
29.67
39.60
35.53
31.66
39.25
41.96
39.42
45.06
57.91
35.80
37.91
Gross-Profit-to-Asset %
0.09
0.19
0.18
0.22
0.24
0.17
0.30
0.40
0.36
0.32
0.39
0.42
0.39
0.45
0.58
0.36
0.38
Asset Turnover
121
25.63
85.13
78.78
56.42
71.15
78.45
73.38
55.08
47.49
116
112
116
148
93.55
129
111
Days Sales Outstanding
--
--
650
--
25.76
22.52
--
--
--
--
--
--
--
--
--
--
-- Days Payable
--
--
259
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Days Inventory
121
25.63
-307
78.78
30.66
48.63
78.45
73.38
55.08
47.49
116
112
116
148
93.55
129
111
Cash Conversion Cycle
--
--
1.41
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Inventory Turnover
--
--
0.07
--
1.00
1.52
--
--
--
--
--
--
--
--
--
--
-- COGS-to-Revenue
--
--
0.05
0.06
--
--
--
--
--
--
--
--
--
--
--
--
-- Inventory-to-Revenue
0.01
0.03
1.74
0.03
0.02
0.02
0.02
0.02
0.09
0.12
0.02
0.04
0.16
0.02
0.03
0.03
0.03
Capex-to-Revenue
--
--
--
--
--
--
--
0.15
0.28
0.19
0.03
0.07
0.35
0.04
0.05
0.08
0.09
Capex-to-Operating-Income
--
0.03
--
--
0.04
--
0.13
--
0.57
0.44
0.10
0.06
0.47
0.08
0.05
0.11
0.17
Capex-to-Operating-Cash-Flow
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative.
GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Financial Statement

Income Statement

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
24.01
103
125
115
103
62.09
85.23
122
141
165
258
376
461
798
1,653
1,289
1,397
Revenue
--
--
8.84
--
103
94.21
--
--
--
--
--
--
--
--
--
--
-- Cost of Goods Sold
24.01
103
126
115
-0.08
-32.12
85.23
122
141
165
258
376
461
798
1,653
1,289
1,397
Gross Profit
--
--
101
--
-0.07
-51.74
--
--
--
--
--
--
--
--
--
--
-- Gross Margin %
6.57
22.93
25.98
29.13
28.43
12.00
11.36
12.26
13.18
13.31
14.52
23.38
32.63
50.87
108
195
236
Selling, General, & Admin. Expense
63.76
166
230
183
--
94.21
94.38
96.95
83.79
71.16
93.71
139
218
355
513
635
693
Research & Development
37.32
-20.52
0.72
0.00
0.00
-94.21
-0.00
0.00
-0.00
-25.71
-0.00
-0.00
-0.00
-0.00
0.00
0.00
-0.00
Other Operating Expense
108
168
257
212
28.43
12.00
106
109
96.97
58.76
108
162
251
406
621
830
929
Total Operating Expense
-83.65
-64.79
-131
-97.54
-28.51
-44.13
-20.52
12.73
43.94
107
149
214
210
392
1,032
459
467
Operating Income
-348
-62.69
-104
-84.98
-27.61
-71.07
-24.08
10.44
31.18
64.46
57.97
56.83
45.62
49.16
62.44
35.58
33.46
Operating Margin %
8.19
31.02
22.81
4.91
0.25
3.93
3.14
5.26
6.35
5.44
4.62
17.97
9.61
17.85
30.09
29.93
102
  Interest Income
-0.18
-0.22
-39.98
-35.47
-7.03
-0.36
-0.48
-0.61
-0.67
-0.02
-0.03
-56.29
--
-1.04
-1.64
-1.98
-107
  Interest Expense
8.65
10.49
-17.17
-30.56
-6.79
3.57
2.66
4.65
5.68
5.42
4.59
-38.32
9.61
16.81
28.45
27.96
-5.07
Net Interest Income
-2.63
-20.52
--
61.12
13.57
3.44
-2.20
-5.35
-0.35
-1.46
6.38
-6.20
25.77
16.06
-95.33
119
28.77
Other Income (Expense)
-77.63
-74.83
-148
-66.98
-21.72
-37.12
-20.06
12.02
49.27
111
160
169
246
425
965
605
491
Pre-Tax Income
--
--
-0.11
-1.16
-3.70
-1.05
0.46
0.87
0.65
0.87
8.06
6.36
-21.35
-103
-187
-148
-123
Tax Provision
--
--
-0.07
-1.73
-17.05
-2.82
2.31
-7.27
-1.33
-0.79
-5.03
-3.76
8.68
24.24
19.41
24.48
25.05
Tax Rate %
-77.63
-74.83
-148
-68.14
-25.43
-38.17
-19.60
12.89
49.92
111
168
176
224
322
778
457
368
Net Income (Continuing Operations)
--
--
-26.73
-130
-31.60
-67.34
-66.06
7.76
--
--
--
--
--
--
--
--
-- Net Income (Discontinued Operations)
-77.63
-74.83
-175
-198
-57.03
-106
-85.66
20.65
49.92
111
168
176
224
322
778
457
368
Net Income
-323
-72.40
-139
-172
-55.23
-170
-101
16.93
35.43
67.39
65.36
46.68
48.66
40.37
47.06
35.46
26.35
Net Margin %
-0.20
-0.17
-0.39
-0.44
-0.13
-0.24
-0.19
0.04
0.09
0.19
0.28
0.29
0.37
0.51
1.19
0.70
0.56
EPS (Basic)
-0.20
-0.17
-0.39
-0.44
-0.13
-0.24
-0.19
0.04
0.09
0.18
0.27
0.28
0.36
0.51
1.18
0.69
0.56
EPS (Diluted)
389
439
446
449
449
449
460
519
573
608
618
621
620
636
659
660
660
Shares Outstanding (Diluted Average)
-77.45
-64.79
-108
-31.51
-14.69
-36.76
-19.58
12.63
49.94
111
160
225
246
426
967
607
598
EBIT
3.10
2.78
14.41
16.41
3.73
2.66
2.66
2.14
2.04
4.64
5.81
11.13
13.42
20.68
42.35
37.68
-- Depreciation, Depletion and Amortization
-74.35
-62.01
-93.50
-15.10
-10.96
-34.10
-16.93
14.77
51.98
115
166
237
259
447
1,009
645
598
EBITDA
-310
-60.00
-74.60
-13.16
-10.61
-54.92
-19.86
12.12
36.89
69.68
64.50
62.92
56.20
56.00
61.05
50.04
42.83
EBITDA Margin %
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Financial Statement

Cashflow Statement

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
-77.63
-74.83
-175
-197
-53.32
-104
-86.12
19.78
49.27
111
160
169
246
425
965
605
491
Net Income From Continuing Operations
3.10
2.78
14.41
16.41
3.73
2.66
2.66
2.14
2.04
4.64
5.81
11.13
13.42
20.68
42.35
37.68
-- Depreciation, Depletion and Amortization
3.32
-33.31
20.84
10.11
--
-0.15
-8.27
-0.17
6.93
-13.13
-113
42.94
-117
-247
50.04
-163
--   Change In Receivables
--
-33.31
5.78
13.53
6.26
-0.26
--
--
--
--
--
--
--
--
--
--
--   Change In Inventory
--
-0.37
-0.17
-0.58
-0.22
0.11
--
--
--
--
--
--
--
--
--
--
--   Change In Prepaid Assets
--
--
--
--
--
4.47
3.65
6.34
0.75
-0.69
-1.33
7.47
20.43
65.45
27.47
46.19
--   Change In Payables And Accrued Expense
-6.65
33.31
-6.27
-38.99
61.09
-40.08
35.48
-50.30
-44.43
-64.75
-7.74
-12.24
--
--
83.89
0.00
--   Change In Other Working Capital
-3.33
-33.69
20.17
-15.92
67.13
-35.92
30.85
-44.13
-36.74
-78.57
-122
38.16
-96.68
-181
161
-117
-154
Change In Working Capital
--
--
--
--
--
3.55
2.11
2.13
4.59
5.33
7.54
12.09
13.88
21.87
32.70
47.11
-- Stock Based Compensation
--
--
--
--
--
60.56
58.19
--
--
--
--
--
--
--
--
--
-- Asset Impairment Charge
10.62
204
47.10
84.66
30.03
-3.74
4.78
-3.44
2.82
3.50
-5.36
22.10
-21.65
-89.40
-150
-234
-85.59
Cash Flow from Others
-67.25
98.74
-92.93
-112
47.58
-77.36
12.47
-23.52
21.98
45.45
46.47
253
155
197
1,052
339
252
Cash Flow from Operations
-0.34
-2.59
-209
-3.29
-1.79
-1.27
-1.58
-1.40
-2.02
-1.38
-1.74
-14.15
-10.98
-11.75
-50.20
-38.29
-43.75
Purchase Of Property, Plant, Equipment
0.11
0.02
0.04
0.07
0.25
0.11
0.11
9.65
0.01
--
--
--
--
--
--
--
-- Sale Of Property, Plant, Equipment
--
--
--
--
--
0.07
--
--
--
--
--
--
--
--
--
--
-- Sale Of Business
-434
-1,003
-321
-94.55
-281
-193
-312
-179
-444
-303
-427
-545
-537
-865
-2,030
-2,373
-2,187
Purchase Of Investment
354
544
623
289
152
285
240
184
289
252
287
453
339
586
1,696
2,265
2,079
Sale Of Investment
--
--
-9.60
-3.29
--
--
--
-0.50
-10.48
-18.38
-2.96
--
-61.91
-4.76
--
--
-- Net Intangibles Purchase And Sale
--
--
0.00
3.29
-0.00
0.00
--
0.00
0.00
0.00
-0.00
-0.00
0.00
0.00
--
--
-- Cash From Other Investing Activities
-79.96
-461
83.29
191
-131
91.07
-73.22
12.30
-167
-70.17
-144
-106
-271
-295
-384
-146
-151
Cash Flow from Investing
166
306
6.18
0.32
--
--
64.43
--
165
0.37
0.12
--
--
576
--
--
-- Issuance of Stock
--
--
--
--
--
--
--
--
--
--
-16.75
--
-22.26
--
--
-67.92
-41.60
Repurchase of Stock
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--   Issuance of Debt
--
--
--
--
--
-1.08
-1.09
-0.71
-0.35
-0.03
-0.02
--
--
-4.61
-7.19
-8.81
-9.66
  Payments of Debt
--
--
--
--
--
-1.08
-1.09
-0.71
-0.35
-0.03
-0.02
--
--
-4.61
-7.19
-8.81
-9.66
Net Issuance of Debt
-9.97
-1.78
-1.60
-1.62
--
--
-0.42
28.58
6.51
93.50
29.58
--
11.44
-27.07
18.81
12.92
9.13
Other Financing
156
305
4.58
-1.30
-1.24
-1.08
62.92
27.87
172
93.84
12.93
34.19
-10.83
544
11.61
-63.82
-42.13
Cash Flow from Financing
67.55
83.75
23.85
13.71
82.40
-0.37
12.21
14.52
27.86
52.40
124
48.82
206
79.28
581
1,103
1,153
Beginning Cash Position
-0.05
-0.10
-6.12
-0.70
1.92
0.01
-0.49
-0.27
5.56
6.02
4.07
-15.11
2.90
2.38
-72.77
129
132
  Effect of Exchange Rate Changes
8.45
-58.03
-11.18
77.25
-82.77
12.65
1.69
16.38
31.64
75.13
-80.39
166
-124
449
606
258
190
Net Change in Cash
76.01
25.72
12.67
90.96
-0.37
12.28
13.89
30.90
59.50
128
43.53
214
81.28
528
1,187
1,361
1,343
Ending Cash Position
-0.34
-2.59
-219
-3.29
-1.79
-1.27
-1.58
-1.90
-12.50
-19.76
-4.69
-14.15
-72.89
-16.51
-50.20
-38.29
-43.75
Capital Expenditure
-67.59
96.15
-312
-115
45.78
-78.63
10.89
-25.43
9.48
25.69
41.77
239
81.89
181
1,002
300
208
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Financial Satement

Balance Sheet

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
76.01
25.72
12.67
90.23
17.91
11.54
11.78
30.90
59.50
128
43.53
214
81.28
528
1,187
1,361
1,343
  Cash And Cash Equivalents
229
--
306
160
275
183
253
255
381
382
513
648
850
1,104
1,442
1,577
1,617
  Marketable Securities
305
25.72
319
250
293
195
264
286
441
510
556
862
931
1,632
2,629
2,938
2,960
Cash, Cash Equivalents, Marketable Securities
7.26
--
29.23
20.32
11.61
12.60
24.04
24.99
17.54
25.49
138
92.07
202
445
403
512
421
  Accounts Receivable
--
--
--
--
--
--
--
--
--
--
--
9.17
--
--
40.72
4.71
50.50
  Other Current Receivables
7.26
--
29.23
20.32
11.61
12.60
24.04
24.99
17.54
25.49
138
101
202
445
443
516
472
Total Receivables
--
--
6.26
--
--
--
--
--
--
--
--
--
--
--
--
--
--   Inventories, Other
--
--
6.26
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Total Inventories
0.99
739
1.58
150
125
61.03
2.35
--
--
0.00
--
-0.00
--
--
-0.00
0.00
0.00
Other Current Assets
314
765
356
421
429
268
291
311
458
535
694
964
1,133
2,077
3,073
3,455
3,432
Total Current Assets
--
--
--
--
--
--
--
--
--
--
--
--
--
22.16
177
56.37
35.39
Investments And Advances
--
--
--
8.39
6.69
--
--
--
--
--
--
--
--
--
--
--
--   Buildings And Improvements
14.68
--
--
26.39
24.26
24.80
24.51
23.31
22.55
21.47
21.11
27.02
33.09
41.50
68.02
81.60
--   Machinery, Furniture, Equipment
7.47
--
--
0.19
0.67
0.31
--
--
--
0.14
0.78
10.74
0.15
7.29
2.29
7.90
--   Construction In Progress
-16.62
7.84
177
--
--
6.77
1.68
1.77
1.59
1.40
1.36
1.71
14.49
40.90
93.21
115
144
  Other Gross PPE
5.54
7.84
177
34.98
31.61
31.88
26.19
25.08
24.14
23.02
23.25
39.47
47.73
89.69
164
204
144
Gross Property, Plant and Equipment
--
--
--
-23.19
-24.26
-26.15
-21.63
-20.91
-19.89
-18.81
-18.68
-21.43
-23.03
-28.11
-43.17
-55.92
--   Accumulated Depreciation
5.54
7.84
177
11.79
7.35
5.73
4.57
4.16
4.26
4.20
4.56
18.04
24.70
61.58
120
148
144
Property, Plant and Equipment
--
--
56.81
--
--
--
--
0.47
10.36
28.11
25.79
19.78
71.67
69.91
55.27
38.60
34.65
Intangible Assets
0.43
0.12
0.14
2.55
3.69
2.70
2.31
2.45
2.01
1.93
17.94
48.61
60.39
22.31
32.21
44.22
43.10
Other Long Term Assets
5.97
7.96
234
14.34
11.04
8.43
6.87
7.08
16.62
34.24
48.30
86.43
157
176
385
287
258
Total Long-Term Assets
320
773
590
435
440
277
298
318
475
569
743
1,050
1,290
2,253
3,457
3,742
3,690
Total Assets
8.39
15.01
16.48
8.78
5.81
--
--
--
--
4.67
3.16
--
--
--
--
--
--   Accounts Payable
--
--
--
--
--
--
--
--
--
--
8.74
--
19.52
10.86
--
--
--   Total Tax Payable
10.68
--
--
--
--
17.18
13.88
15.99
17.48
12.23
11.70
28.06
48.19
125
194
225
186
  Other Current Payables
19.07
15.01
16.48
8.78
5.81
17.18
13.88
15.99
17.48
16.90
23.59
28.06
67.70
136
194
225
186
Accounts Payable & Accrued Expense
--
--
--
--
20.54
--
--
--
--
--
--
--
--
--
--
--
--   Short-Term Debt
1.23
1.46
1.04
1.37
1.08
1.02
0.66
0.39
0.04
0.02
--
--
--
3.87
6.87
9.42
8.89
  Short-Term Capital Lease Obligation
1.23
1.46
1.04
1.37
21.62
1.02
0.66
0.39
0.04
0.02
--
--
--
3.87
6.87
9.42
8.89
Short-Term Debt & Capital Lease Obligation
--
--
--
--
--
153
192
150
91.17
41.25
32.35
23.96
--
--
4.25
3.95
3.85
  Current Deferred Revenue
--
--
--
--
--
153
192
150
91.17
41.25
32.35
23.96
--
--
4.25
3.95
3.85
DeferredTaxAndRevenue
12.61
192
174
166
208
1.87
1.86
0.16
-0.00
2.30
2.41
--
--
--
0.00
0.00
0.00
Other Current Liabilities
32.91
208
191
176
235
173
208
167
109
60.47
58.35
52.02
67.70
140
205
238
198
Total Current Liabilities
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--   Long-Term Debt
1.99
1.60
1.62
3.51
2.10
1.07
0.33
0.07
0.02
--
--
--
--
23.06
45.30
55.16
52.72
  Long-Term Capital Lease Obligation
1.99
1.60
1.62
3.51
2.10
1.07
0.33
0.07
0.02
--
--
--
--
23.06
45.30
55.16
52.72
Long-Term Debt & Capital Lease Obligation
0.01
0.01
0.01
0.02
0.12
0.02
0.02
0.00
--
--
--
--
--
0.01
0.02
0.02
0.02
Debt-to-Equity
--
--
--
--
--
--
--
--
--
--
--
--
--
--
79.64
74.00
72.12
NonCurrent Deferred Liabilities
-0.00
-0.00
0.85
1.58
11.55
16.85
21.83
30.16
29.44
0.21
--
0.58
0.46
0.45
0.82
1.98
1.93
Other Long-Term Liabilities
1.99
1.60
2.47
5.09
13.65
17.92
22.17
30.23
29.46
0.21
--
0.58
0.46
23.50
126
131
127
Total Long-Term Liabilities
34.91
210
194
181
249
191
230
197
138
60.68
58.35
52.60
68.16
163
331
369
325
Total Liabilities
7.02
8.69
8.13
8.79
7.97
7.95
8.85
9.51
9.44
8.69
8.56
9.73
9.30
9.67
10.79
10.03
9.77
Common Stock
-392
-489
-600
-818
-786
-886
-964
-984
-833
-617
-440
-295
-30.19
317
1,162
1,523
1,557
Retained Earnings
--
--
--
--
--
12.82
14.13
14.18
13.94
13.79
14.59
13.05
14.03
14.58
8.83
12.31
14.37
Accumulated other comprehensive income (loss)
669
1,042
973
1,053
954
951
1,008
1,082
1,147
1,103
1,102
1,270
1,229
1,749
1,945
1,828
1,784
Additional Paid-In Capital
0.79
0.91
15.50
10.16
15.92
-0.00
0.00
-0.00
0.00
0.00
--
--
-0.00
--
0.00
-0.00
-- Other Stockholders Equity
285
563
396
254
192
86.06
67.39
121
337
509
684
997
1,222
2,090
3,127
3,373
3,365
Total Stockholders Equity
285
563
396
254
192
86.06
67.39
121
337
509
684
997
1,222
2,090
3,127
3,373
3,365
Total Equity
0.89
0.73
0.67
0.58
0.44
0.31
0.23
0.38
0.71
0.89
0.92
0.95
0.95
0.93
0.90
0.90
0.91
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Valuation Ratios

Valuation Ratios

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
N/A
N/A
N/A
N/A
At Loss
At Loss
At Loss
98.15
68.50
73.05
61.03
57.91
44.99
43.54
34.11
57.75
60.77
PE Ratio
N/A
N/A
N/A
N/A
At Loss
At Loss
At Loss
157
68.50
73.05
61.03
57.91
44.99
43.54
34.11
57.75
60.77
PE Ratio without NRI
--
--
--
--
--
--
--
--
293
335
276
50.24
96.94
124
29.25
86.00
118
Price-to-Owner-Earnings
--
--
--
--
3.16
3.39
10.45
16.71
9.92
15.67
14.60
10.15
8.27
6.94
8.51
7.71
6.33
PB Ratio
--
--
--
--
3.16
3.39
10.45
16.78
10.23
16.60
15.17
10.36
8.78
7.18
8.66
7.80
6.39
Price-to-Tangible-Book
--
--
--
--
11.40
--
57.84
--
360
317
246
42.60
123
77.59
26.49
87.90
107
Price-to-Free-Cash-Flow
--
26.84
--
--
10.97
--
50.52
--
156
179
221
40.21
65.25
71.10
25.23
77.96
88.58
Price-to-Operating-Cash-Flow
109
25.64
13.09
6.28
5.05
4.81
7.39
16.58
24.26
49.21
39.89
27.02
21.90
17.57
16.05
20.48
16.03
PS Ratio
--
--
--
--
--
--
--
--
--
--
--
--
0.62
1.05
0.69
1.33
1.69
PEG Ratio
111
25.98
13.09
4.15
2.45
1.71
4.98
14.19
21.01
45.12
36.75
24.29
19.62
15.91
14.38
18.15
13.76
EV-to-Revenue
-31.91
-32.53
-17.55
-31.51
-23.09
-3.11
-25.10
117
56.94
64.76
56.98
38.60
34.91
28.41
23.55
36.27
32.35
EV-to-EBITDA
-31.91
-31.47
-15.20
-15.10
-17.22
-2.89
-21.69
137
59.27
67.48
59.05
40.50
36.82
29.79
24.58
38.52
32.35
EV-to-EBIT
-3.13
-3.18
-6.58
-6.62
-5.81
-34.60
-4.61
0.73
1.69
1.48
1.69
2.47
2.72
3.36
4.07
2.60
3.09
Earnings Yield (Joel Greenblatt) %
--
--
--
--
--
--
-7.33
-1.75
--
--
--
--
20.74
20.77
21.19
21.26
21.64
Forward Rate of Return (Yacktman) %
--
--
--
--
--
--
--
--
--
--
--
--
439
174
147
112
86.84
Shiller PE Ratio

Valuation and Quality

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
--
--
--
--
606
292
704
2,024
3,338
7,977
9,989
10,128
10,106
14,495
26,597
25,998
20,003
Market Cap
--
--
--
--
337
99.26
441
1,738
2,898
7,467
9,433
9,266
9,174
12,890
24,020
23,124
17,031
Enterprise Value
--
--
--
--
1.35
0.65
1.40
3.91
5.86
13.40
16.58
16.58
16.48
22.33
40.66
39.56
30.43
Month End Stock Price
0.68
-0.41
0.28
0.15
0.10
0.01
0.07
0.17
0.53
0.75
0.83
1.33
1.41
2.26
3.51
3.91
4.01
Net Cash per Share
0.70
1.25
0.36
0.53
0.40
0.17
0.12
0.22
0.56
0.80
1.06
1.49
1.74
2.95
4.19
4.69
4.73
Net Current Asset Value
0.70
-0.41
0.34
0.19
0.12
0.03
0.10
0.21
0.55
0.79
1.00
1.44
1.65
2.78
3.98
4.49
4.49
Net-Net Working Capital
--
--
--
--
--
--
--
-0.28
0.12
0.63
0.81
2.43
3.01
4.62
9.68
10.43
10.49
Intrinsic Value: Projected FCF
--
--
--
--
--
--
--
--
--
--
--
--
14.26
27.26
57.58
45.58
44.86
Median PS Value
--
--
--
--
--
--
--
--
--
--
--
--
9.16
12.74
29.81
17.13
12.52
Peter Lynch Fair Value
--
--
--
--
--
--
--
0.36
1.06
1.82
2.59
3.19
3.91
5.95
11.17
8.89
7.96
Graham Number
--
--
--
--
--
--
-0.36
-0.57
0.31
0.82
1.45
2.82
3.39
5.14
8.11
8.80
8.66
Earnings Power Value (EPV)
--
--
--
0.79
-0.50
-3.26
-2.29
2.88
13.84
79.26
104
116
89.81
54.87
50.82
45.23
40.71
Altman Z-Score
--
N/A
N/A
N/A
6.00
3.00
5.00
5.00
6.00
5.00
6.00
5.00
6.00
4.00
6.00
2.00
5.00
Piotroski F-Score
--
--
--
--
-1,268
-3.03
-4.55
-1.48
-1.37
-0.80
1.24
-2.68
-1.16
-1.62
-2.25
-2.51
-2.15
Beneish M-Score
-0.08
1.69
0.10
0.02
-0.18
-0.24
-0.71
-0.55
-0.33
-0.00
0.23
0.18
0.28
0.38
0.24
0.14
0.13
Scaled Net Operating Assets
21.76
37.23
-27.98
-63.71
6.00
-43.08
-8.37
10.01
41.14
23.91
35.77
2.77
26.42
18.64
3.20
7.07
7.26
Sloan Ratio %
9.53
3.67
1.86
2.39
1.83
1.55
1.40
1.87
4.22
8.85
11.90
18.52
16.74
14.88
15.00
14.50
17.31
Current Ratio
9.53
3.67
1.83
2.39
1.83
1.55
1.40
1.87
4.22
8.85
11.90
18.52
16.74
14.88
15.00
14.50
17.31
Quick Ratio
9.28
0.12
1.67
1.42
1.25
1.13
1.27
1.72
4.06
8.43
9.53
16.58
13.75
11.70
12.83
12.33
14.93
Cash Ratio
--
--
--
--
--
--
--
20.82
65.41
6,190
4,943
3.80
No Debt
377
631
232
4.36
Interest Coverage
--
--
--
--
2.14
1.14
1.57
4.63
5.86
13.93
17.89
23.88
20.15
24.42
41.14
46.63
49.07
Highest Stock Price
--
--
--
--
0.84
0.41
0.63
1.43
2.98
5.23
9.02
16.48
12.23
14.28
18.98
28.60
27.42
Lowest Stock Price
-19.75
-12.29
-0.27
-0.59
-0.01
--
-12.03
-2.88
-10.07
-4.50
-1.21
-1.39
-0.38
-5.86
-0.77
-0.47
-0.53
Shares Buyback Ratio %
--
--
--
--
--
--
-9.15
--
-4.95
--
0.17
--
0.22
-3.97
--
0.26
0.21
Buyback Yield %
24.00
279
19.57
-8.90
-10.16
-40.00
34.06
27.03
4.68
10.57
53.31
45.32
22.61
68.78
100
-22.24
-17.27
YoY Rev. per Sh. Growth
0.50
14.57
-130
-12.79
71.20
-85.04
20.85
122
118
110
49.18
3.66
27.92
39.78
133
-41.41
-57.59
YoY EPS Growth
-3.80
26.18
-48.23
83.73
29.41
-217
51.32
176
225
109
41.58
41.64
9.71
67.94
118
-36.29
-51.37
YoY EBITDA Growth
--
--
--
--
--
--
--
--
--
--
--
--
73.02
41.30
49.58
43.50
35.90
5-Year EBITDA Growth Rate
389
439
446
449
449
449
460
510
563
585
599
608
613
630
652
656
655
Shares Outstanding (Basic Average)
396
445
446
449
449
449
503
518
570
595
603
611
613
649
654
657
657
Shares Outstanding (EOP)
--
--
--
--
--
--
--
1.32
0.86
1.07
1.00
0.78
0.54
-0.07
0.59
0.71
0.91
Beta
03/20/09
03/20/09
03/19/10
03/16/11
03/07/12
03/07/13
03/04/14
03/02/15
02/17/16
02/22/17
02/22/18
02/20/19
03/30/20
02/23/21
02/16/22
  Filing Date
03/20/09
03/19/10
03/16/11
03/07/12
03/07/13
03/04/14
03/02/15
02/17/16
02/22/17
02/22/18
03/30/20
03/29/21
03/29/21
03/29/21
02/16/22
  Restated Filing Date
02/20/19
02/19/20
02/23/21
02/16/22
  Earnings Release Date
--
--
565
565
189
179
180
180
180
180
180
180
180
548
781
1,212
1,212
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Genmab A/S (NAS:GMAB)
www.gurufocus.com/stock/NAS:GMAB

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

Disclaimer

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