Genmab A/S

XTRA:GE9 Stock Report

Market Cap: €14.2b

Genmab Valuation

Is GE9 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of GE9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: GE9 (€231) is trading below our estimate of future cash flow value (€759.64)

Significantly Below Future Cash Flow Value: GE9 is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GE9?

Key metric: As GE9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for GE9. This is calculated by dividing GE9's market cap by their current earnings.
What is GE9's PE Ratio?
PE Ratio20.1x
EarningsUS$821.00m
Market CapUS$16.49b

Price to Earnings Ratio vs Peers

How does GE9's PE Ratio compare to its peers?

The above table shows the PE ratio for GE9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average78.3x
SRT3 Sartorius
99.6x20.72%€14.6b
NBIX Neurocrine Biosciences
23.6x24.01%US$15.8b
SOBI Swedish Orphan Biovitrum
167.9x26.42%SEK 154.7b
MRK Merck KGaA
22.3x10.27%€56.5b
GE9 Genmab
20.1x18.31%€105.8b

Price-To-Earnings vs Peers: GE9 is good value based on its Price-To-Earnings Ratio (20.1x) compared to the peer average (78.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does GE9's PE Ratio compare vs other companies in the European Biotechs Industry?

10 CompaniesPrice / EarningsEstimated GrowthMarket Cap
GE9 20.1xIndustry Avg. 15.9xNo. of Companies10PE020406080100+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: GE9 is expensive based on its Price-To-Earnings Ratio (20.1x) compared to the European Biotechs industry average (15.6x).

Price to Earnings Ratio vs Fair Ratio

What is GE9's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GE9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.1x
Fair PE Ratio31.5x

Price-To-Earnings vs Fair Ratio: GE9 is good value based on its Price-To-Earnings Ratio (20.1x) compared to the estimated Fair Price-To-Earnings Ratio (31.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GE9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€231.00
€309.60
+34.02%
15.65%€401.53€187.38n/a15
May ’27€225.70
€313.56
+38.93%
16.11%€407.61€187.35n/a14
Apr ’27€235.90
€298.65
+26.60%
21.36%€403.86€174.02n/a14
Mar ’27€247.80
€299.33
+20.79%
21.56%€403.58€173.90n/a14
Feb ’27€273.20
€293.03
+7.26%
24.03%€390.81€135.85n/a13
Jan ’27€279.20
€283.26
+1.45%
24.99%€409.74€135.91n/a13
Dec ’26€272.60
€275.18
+0.95%
25.11%€409.82€135.94n/a14
Nov ’26€246.60
€270.18
+9.56%
23.71%€370.87€135.89n/a14
Oct ’26€268.80
€267.45
-0.50%
23.47%€370.86€135.89n/a14
Sep ’26n/a
€260.17
0%
24.83%€355.04€133.98n/a15
Aug ’26n/a
€256.49
0%
25.38%€361.58€133.92n/a15
Jul ’26n/a
€259.45
0%
25.06%€361.80€134.00n/a16
Jun ’26n/a
€262.31
0%
23.96%€362.03€134.08n/a17
May ’26n/a
€270.46
0%
24.82%€368.44€133.98€225.7016
Apr ’26n/a
€281.84
0%
26.26%€398.06€134.03€235.9016
Mar ’26n/a
€295.20
0%
22.71%€398.19€191.85€247.8016
Feb ’26n/a
€307.21
0%
19.56%€398.07€211.77€273.2016
Jan ’26n/a
€309.69
0%
19.02%€398.14€211.81€279.2016
Dec ’25n/a
€317.29
0%
17.89%€398.36€214.60€272.6017
Nov ’25n/a
€325.97
0%
15.44%€398.09€214.46€246.6017
Oct ’25n/a
€323.07
0%
15.94%€398.15€214.49€268.8017
Sep ’25n/a
€323.11
0%
15.94%€398.19€214.51n/a17
Aug ’25n/a
€328.89
0%
15.28%€402.01€214.41n/a17
Jul ’25n/a
€330.37
0%
15.71%€402.23€214.52n/a17
Jun ’25n/a
€330.51
0%
15.72%€402.12€214.47n/a17
May ’25n/a
€330.16
0%
15.64%€402.21€222.83n/a17
€310.03
Fair Value
25.5% undervalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/25 10:44
End of Day Share Price 2026/05/25 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Genmab A/S is covered by 41 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
James GordonBarclays
Xue ChenBarclays
Emily FieldBarclays