Projected Income Statement: Genmab A/S

Forecast Balance Sheet: Genmab A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -19,338 -22,324 -28,135 -21,101 -10,833 19,173 11,009 -1,788
Change - -15.44% -26.03% 25% 48.66% 276.99% -42.58% -116.24%
Announcement Date 2/16/22 A 2/22/23 A 2/14/24 A 2/12/25 A 2/17/26 A - - -
1DKK in Million
Estimates

Cash Flow Forecast: Genmab A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 252 317 366 187 233.7 441.2 562.1 646.7
Change - 25.79% 15.46% -48.91% 24.98% 88.76% 27.41% 15.05%
Free Cash Flow (FCF) 1 1,976 3,595 7,014 7,584 7,258 5,984 7,668 11,900
Change - 81.93% 95.1% 8.13% -4.3% -17.55% 28.14% 55.19%
Announcement Date 2/16/22 A 2/22/23 A 2/14/24 A 2/12/25 A 2/17/26 A - - -
1DKK in Million
Estimates

Forecast Financial Ratios: Genmab A/S

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

Profitability

        
EBITDA Margin (%) 38.51% 46.04% 34.09% 33.06% 30.54% 30.07% 36.96% 42.13%
EBIT Margin (%) 35.58% 43.56% 32.3% 32.53% 28.63% 26.69% 30.03% 34.91%
EBT Margin (%) 46.96% 48.2% 34.22% 42.57% 32.37% 21.13% 26.96% 33.3%
Net margin (%) 35.46% 37.83% 26.42% 36.44% 25.89% 17.03% 21.25% 26.18%
FCF margin (%) 23.3% 24.63% 42.58% 35.23% 30.89% 20.67% 22.74% 29.21%
FCF / Net Income (%) 65.69% 65.1% 161.17% 96.69% 119.31% 121.4% 107.05% 111.58%

Profitability

        
ROA 13.14% 20.11% 13.31% 19.34% 9.99% 6.51% 8.76% 10.55%
ROE 14.56% 22.25% 14.78% 22.97% 17.53% 11.85% 15.03% 18.03%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - 2.2x 0.88x -
Debt / Free cash flow - - - - - 3.2x 1.44x -

Capital Intensity

        
CAPEX / Current Assets (%) 2.97% 2.17% 2.22% 0.87% 0.99% 1.52% 1.67% 1.59%
CAPEX / EBITDA (%) 7.72% 4.72% 6.52% 2.63% 3.26% 5.07% 4.51% 3.77%
CAPEX / FCF (%) 12.75% 8.82% 5.22% 2.47% 3.22% 7.37% 7.33% 5.43%

Items per share

        
Cash flow per share 1 33.73 59.26 111.7 120.2 119.5 112.6 150.3 213.9
Change - 75.68% 88.46% 7.65% -0.61% -5.77% 33.49% 42.29%
Dividend per Share 1 - - - - - - - -
Change - - - - - - - -
Book Value Per Share 1 336.3 415.8 478.9 556 584.7 671.4 786.3 948.8
Change - 23.63% 15.19% 16.09% 5.16% 14.82% 17.12% 20.66%
EPS 1 45.54 83.65 66.02 121.4 97.08 79.08 112.4 167.5
Change - 83.68% -21.08% 83.82% -20% -18.54% 42.17% 48.99%
Nbr of stocks (in thousands) 65,423 65,362 65,322 63,524 61,599 59,754 59,754 59,754
Announcement Date 2/16/22 A 2/22/23 A 2/14/24 A 2/12/25 A 2/17/26 A - - -
1DKK
Estimates
2026 *2027 *
P/E 26.5x 18.6x
PBR 3.12x 2.66x
EV / Sales 4.98x 4.03x
Yield - -

EPS & Dividend



Y-o-Y evolution of P/E

 

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
18
Last Close Price
2,092.00DKK
Average target price
2,453.79DKK
Spread / Average Target
+17.29%

Quarterly revenue - Rate of surprise

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