Company Valuation: argenx SE

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 11,400 16,291 19,269 20,293 36,221 37,564 37,564 -
Change - 42.9% 18.28% 5.32% 78.48% 3.71% 0% -
Enterprise Value (EV) 1 9,781 14,186 18,515 17,352 32,974 34,664 33,242 31,194
Change - 45.03% 30.52% -6.28% 90.03% 5.13% -4.1% -6.16%
P/E ratio -20.8x -43.8x -28.3x -72.1x 48.9x 43.2x 24.9x 19.5x
PBR 8.44x 7.1x - 5.39x 7.4x 6.5x 5.01x 3.85x
PEG - 1.1x -0.4x 1.2x -0x 1.2x 0.4x 0.7x
Capitalization / Revenue 209x 33.5x 45.9x 17.3x 16.9x 12.2x 7.38x 6.18x
EV / Revenue 179x 29.2x 44.1x 14.8x 15.4x 9.67x 6.53x 5.13x
EV / EBITDA -23.6x -45.7x -31.9x -59.8x -8,314x 34.9x 19.4x 13.9x
EV / EBIT -23.4x -45.1x -27.3x -44.2x -1,600x 35.6x 20.4x 14.1x
EV / FCF -28.2x -25.7x -22.8x -40.4x -227x 35.4x 17.9x 12.5x
FCF Yield -3.55% -3.9% -4.39% -2.47% -0.44% 2.83% 5.6% 7.99%
Dividend per Share 2 - - - - - 0.1694 0.3386 0.8465
Rate of return - - - - - 0.03% 0.06% 0.14%
EPS 2 -11.65 -7.203 -12.31 -4.763 12.28 16.58 24.67 31.51
Distribution rate - - - - - 1.14% 1.37% 2.69%
Net sales 1 54.53 486.3 419.9 1,171 2,143 3,599 5,092 6,079
EBITDA 1 -414.3 -310.4 -580.3 -290.2 -3.966 992.9 1,713 2,238
EBIT 1 -417.8 -314.4 -679.3 -392.3 -20.61 892.8 1,629 2,213
Net income 1 -528.9 -368.1 -669.1 -272.3 792.7 1,095 1,476 1,957
Net Debt 1 -1,619 -2,105 -754.3 -2,942 -3,247 -2,900 -4,322 -6,370
Reference price 2 242.00 315.30 348.30 343.50 600.00 613.80 613.80 613.80
Nbr of stocks (in thousands) 47,108 51,668 55,324 59,079 60,368 61,200 61,200 -
Announcement Date 3/4/21 3/3/22 3/2/23 2/29/24 2/27/25 2/26/26 - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
41.62x9.71x35.05x0.03% 42.98B
15.77x5.61x12.36x1.9% 39.24B
-51.88x17.46x-57.7x-.--% 30.07B
-17.43x4.11x-7.72x-.--% 21.88B
26.89x5.54x15.37x-.--% 18.25B
21.84x4.15x13.57x-.--% 16.03B
-318.22x26.4x1453.35x-.--% 12.97B
-13.71x6123.95x-17.5x-.--% 12.5B
-162.05x39.38x-156.41x-.--% 11.76B
13.46x3.74x8.87x-.--% 10.71B
Average -44.37x 624.01x 129.92x 0.19% 21.64B
Weighted average by Cap. -21.97x 364.22x 80.73x 0.35%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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