Projected Income Statement: argenx SE

Forecast Balance Sheet: argenx SE

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -2,105 -754 -2,942 -3,247 -2,920 -4,477 -6,547 -8,333
Change - 64.18% -290.19% -10.37% 10.07% -53.33% -46.24% -27.28%
Announcement Date 3/3/22 3/2/23 2/29/24 2/27/25 2/26/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: argenx SE

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 3.28 0.7884 40.53 65.64 94.68 47.75 64 68.22
Change - -75.96% 5,040.53% 61.95% 44.25% -49.57% 34.03% 6.6%
Free Cash Flow (FCF) 1 -552.7 -813.6 -429.4 -145.2 486.2 1,831 2,506 3,029
Change - -47.2% 47.22% 66.19% 434.96% 276.6% 36.87% 20.84%
Announcement Date 3/3/22 3/2/23 2/29/24 2/27/25 2/26/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: argenx SE

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

Profitability

        
EBITDA Margin (%) -63.84% -138.2% -24.79% -0.19% 25.49% 33.56% 36.23% 37.55%
EBIT Margin (%) -64.65% -161.78% -33.51% -0.96% 24.81% 31.74% 36% 38.81%
EBT Margin (%) -74.11% -163.79% -24% 3.78% 30.1% 34.12% 39.34% 42.18%
Net margin (%) -75.69% -159.36% -23.26% 36.99% 30.41% 28.77% 32.12% 34.64%
FCF margin (%) -113.66% -193.76% -36.67% -6.77% 13.51% 35.72% 40.94% 41.38%
FCF / Net Income (%) 150.17% 121.58% 157.66% -18.31% 44.42% 124.18% 127.47% 119.47%

Profitability

        
ROA -15.92% -23.71% -7.69% 2.02% 17.36% 21.19% 23.19% 18.08%
ROE -19.4% -26.54% -8.54% 2.26% 20.15% 21.78% 23.09% 20.9%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 0.67% 0.19% 3.46% 3.06% 2.63% 0.93% 1.05% 0.93%
CAPEX / EBITDA (%) -1.06% -0.14% -13.96% -1,654.98% 10.32% 2.78% 2.89% 2.48%
CAPEX / FCF (%) -0.59% -0.1% -9.44% -45.22% 19.47% 2.61% 2.55% 2.25%

Items per share

        
Cash flow per share 1 -10.76 - -6.802 -1.22 8.798 28.35 33.49 43.52
Change - - - 82.06% 821.07% 222.25% 18.14% 29.94%
Dividend per Share 1 - - - - - 0.3386 0.8465 1.693
Change - - - - - - 150% 100%
Book Value Per Share 1 44.41 - 63.75 81.07 - 123.2 159.6 200.4
Change - - - 27.17% - - 29.49% 25.59%
EPS 1 -7.203 -12.31 -4.763 12.28 16.58 24.4 30.98 38.89
Change - -70.85% 61.3% 357.87% 35% 47.15% 26.98% 25.54%
Nbr of stocks (in thousands) 51,668 55,324 59,079 60,368 61,200 62,188 62,188 62,188
Announcement Date 3/3/22 3/2/23 2/29/24 2/27/25 2/26/26 - - -
1EUR
Estimates
2026 *2027 *
P/E ratio 28.9x 22.8x
PBR 5.72x 4.42x
EV / Sales 7.68x 6.09x
Yield 0.05% 0.12%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
705.00EUR
Average target price
841.21EUR
Spread / Average Target
+19.32%

Quarterly revenue - Rate of surprise