Genmab Past Earnings Performance
Past criteria checks 2/6
Genmab has been growing earnings at an average annual rate of 18%, while the Biotechs industry saw earnings growing at 13.3% annually. Revenues have been growing at an average rate of 23.6% per year. Genmab's return on equity is 14.4%, and it has net margins of 21%.
Key information
18.05%
Earnings growth rate
19.10%
EPS growth rate
| Biotechs Industry Growth | 18.72% |
| Revenue growth rate | 23.62% |
| Return on equity | 14.45% |
| Net Margin | 21.05% |
| Next Earnings Update | 06 Aug 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 26
GMAB: Late Stage Oncology Readouts Will Support Stronger Margins And Earnings Quality
Genmab's analyst price target has been trimmed slightly to DKK 3,000, as analysts factor in more measured revenue growth expectations, a modestly higher discount rate, and a somewhat richer forward P/E outlook. They are still pointing to solid margin potential and recent bullish rating updates from several firms.Analysis Article • May 15
There May Be Some Bright Spots In Genmab's (CPH:GMAB) Earnings
The most recent earnings report from Genmab A/S ( CPH:GMAB ) was disappointing for shareholders. While the headline...Analysis Article • May 11
Analyst Estimates: Here's What Brokers Think Of Genmab A/S (CPH:GMAB) After Its First-Quarter Report
Genmab A/S ( CPH:GMAB ) shareholders are probably feeling a little disappointed, since its shares fell 3.9% to kr.1,642...
Narrative Update • Apr 29
GMAB: 2026 Pipeline Catalysts Will Test Balanced Risk And Opportunity Outlook
Narrative Update on Genmab The updated analyst framework lifts Genmab's fair value estimate from DKK 1,300 to about DKK 1,588. This reflects higher assumed revenue growth and P/E multiples as analysts factor in recent upgrades, resumed coverage and new acquisition driven pipeline contributions.
Narrative Update • Apr 15
GMAB: 2026 Clinical Readouts And AI Use Will Shape Outlook
Genmab's updated analyst price target edges slightly lower to DKK 2,233 from DKK 2,238, as analysts factor in mixed views around Epkinly assumptions, acquisition driven pipeline updates, and a modestly higher future P/E expectation despite broadly constructive long term growth potential. Analyst Commentary Recent research on Genmab reflects a mix of optimism around the expanded pipeline and upcoming catalysts, alongside caution tied to Epkinly assumptions and valuation.Narrative Update • Mar 31
GMAB: 2026 Late Stage Oncology Catalysts Will Support Stronger Margin Profile
Genmab's updated analyst price target now sits at DKK 3,017, a modest reset from DKK 3,060 as analysts factor in higher discount rates, revised long term margin expectations, and recent research that reflects both increased revenue growth assumptions and a lower future P/E multiple. Analyst Commentary Recent Street research around Genmab has centered on how new clinical and portfolio developments filter into valuation, with several bullish analysts updating price targets and investment cases to reflect revised expectations on execution and long term growth potential.Narrative Update • Mar 17
GMAB: 2026 Catalyst Calendar Will Likely Expose Downside Risk Ahead
Analysts have lifted the Genmab fair value estimate from DKK 1,075.93 to DKK 1,300.00, reflecting updated views on revenue growth, profitability and future P/E, following recent price target revisions and renewed coverage across the Street. Analyst Commentary Recent Street research on Genmab points to a mix of optimism and caution, with valuation views reset around updated expectations for key pipeline assets and royalty streams.Narrative Update • Mar 03
GMAB: 2026 Catalyst Events And AI Adoption Will Shape Outlook
Genmab's analyst fair value estimate has moved up from DKK 2,182 to DKK 2,238, as analysts factor in higher long term revenue growth assumptions, a higher future P/E and recent price target revisions around DKK 2,400 to DKK 2,500, even as they temper near term expectations for Epkinly and margins. Analyst Commentary Recent research points to a more nuanced view of Genmab, with several firms adjusting their price targets and models following the latest earnings, product updates and acquisition activity.Narrative Update • Feb 17
GMAB: 2026 Pipeline Readouts And AI Use Will Drive Outlook
Analysts have made a small trim to their blended DKK price target on Genmab, with the model now pointing to roughly DKK 2,182. This reflects updated assumptions around slightly higher discount rates, a modestly different margin outlook and a lower future P/E multiple after recent coverage resets and target hikes from banks like Morgan Stanley, Deutsche Bank and Barclays.Narrative Update • Feb 02
GMAB: Phase 3 Data, AI Adoption And 2026 Readout Will Shape Outlook
Genmab’s analyst fair value estimate has moved modestly higher to DKK 2,188.94. Analysts point to updated assumptions around slightly lower discount rates, adjusted revenue growth and profit margin expectations, and a recalibrated future P/E multiple as the key drivers behind the refreshed price targets.Narrative Update • Jan 19
GMAB: Phase 3 Setback And 2026 Readout Will Shape Market Outlook
Genmab’s analyst price target has been lifted by roughly DKK 100 to reflect updated expectations around slightly higher revenue growth and profit margin assumptions, as analysts point to recent target increases from DKK 2,000 to DKK 2,400 and DKK 2,500 as support for a higher fair value range. Analyst Commentary Recent Street research on Genmab reflects a generally constructive stance, with higher price targets and continued attention on upcoming clinical milestones.Narrative Update • Jan 05
GMAB: Late Stage Oncology Focus Will Drive Stronger Margins And Repricing
Analysts have increased their fair value estimate for Genmab from DKK 2,700 to approximately DKK 3,060, reflecting updated assumptions that combine lower projected revenue growth with higher profit margins and a reduced future P/E multiple. What's in the News Genmab plans to discontinue further clinical development of acasunlimab and to concentrate resources on late stage programs such as EPKINLY (epcoritamab), petosemtamab and rinatabart sesutecan, described as part of its disciplined portfolio and capital allocation framework (Key Developments).Narrative Update • Dec 14
GMAB Merus Deal Will Likely Expose Downside Risk At Current Levels
Analysts have lifted Genmab's fair value estimate from DKK 1,015 to about DKK 1,076, reflecting a series of higher price targets that cite the Merus acquisition's boost to the late stage pipeline and underappreciated royalty revenue upside as key drivers. Analyst Commentary Recent Street research on Genmab remains broadly constructive, with multiple firms lifting price targets and highlighting the strategic merits of the Merus acquisition.Narrative Update • Nov 29
GMAB: Merus Acquisition and Pipeline Depth Will Shape Market Outlook
Genmab's analyst price target has seen a modest decrease of approximately DKK 3.57 to DKK 2,054.66. Analysts are factoring in sustaining growth drivers from recent pipeline acquisitions while adjusting for updates to discount rate and margin assumptions.Narrative Update • Nov 15
GMAB: Future Pipeline Expansion and Merus Acquisition Will Define Performance
Genmab's analyst price target has been raised from approximately DKK 2,017 to DKK 2,058. This reflects analysts' increased confidence in the company's pipeline expansion, notably following the Merus acquisition and upside potential from key assets such as Epkinly.Narrative Update • Nov 01
GMAB: Recent Acquisition Will Drive Pipeline Expansion While Integration Risks Remain
Genmab's fair value estimate has been raised from DKK 2,012.92 to DKK 2,017.35. Analysts highlight the Merus acquisition's positive impact on the late-stage pipeline and renewed confidence in royalty revenue growth opportunities.Narrative Update • Oct 18
Pipeline Progress And International Expansion Will Unlock Market Opportunities
Genmab's analyst fair value target has increased slightly, rising from DKK 2,005 to DKK 2,013. Analysts cite royalty revenue upside and pipeline expansion following recent M&A activity as key drivers for the upward revisions.Narrative Update • Oct 04
Pipeline Progress And International Expansion Will Unlock Market Opportunities
Genmab's analyst price target was raised from approximately $1,942 to $2,005. This reflects increased confidence among analysts in the company's growth outlook and pipeline expansion following recent acquisitions.Analysis Article • Sep 24
Here's Why We Think Genmab (CPH:GMAB) Might Deserve Your Attention Today
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Narrative Update • Sep 04
Pipeline Progress And International Expansion Will Unlock Market Opportunities
Genmab’s consensus price target was unchanged at DKK1942, as strong sales momentum and positive pipeline updates were offset by concerns about rising competition and tempered long-term growth expectations. Analyst Commentary Bullish analysts are raising price targets following stronger-than-expected sales momentum for Genmab's key oncology products.Analysis Article • Jul 31
Investors Aren't Entirely Convinced By Genmab A/S' (CPH:GMAB) Earnings
When close to half the companies in Denmark have price-to-earnings ratios (or "P/E's") above 16x, you may consider...
New Narrative • Nov 11
Decisive Advances And DuoBody Innovation Propel Future Growth In Biotech Frontiers
Genmab's focus on late-stage therapies, particularly EPKINLY, is expected to boost future revenue and growth due to best-in-class technology and market approvals.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Genmab makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 3,901 | 821 | 666 | 1,687 |
| 31 Dec 25 | 3,720 | 963 | 626 | 1,606 |
| 30 Sep 25 | 3,846 | 1,583 | 643 | 1,567 |
| 30 Jun 25 | 3,647 | 1,371 | 624 | 1,550 |
| 31 Mar 25 | 3,233 | 1,136 | 550 | 1,438 |
| 31 Dec 24 | 3,121 | 1,133 | 549 | 1,414 |
| 30 Sep 24 | 2,964 | 702 | 519 | 1,349 |
| 30 Jun 24 | 2,743 | 798 | 501 | 1,276 |
| 31 Mar 24 | 2,576 | 791 | 504 | 1,187 |
| 01 Jan 24 | 2,390 | 631 | 478 | 1,107 |
| 30 Sep 23 | 2,389 | 590 | 466 | 1,033 |
| 30 Jun 23 | 2,378 | 680 | 453 | 979 |
| 31 Mar 23 | 2,216 | 757 | 422 | 890 |
| 31 Dec 22 | 2,088 | 785 | 385 | 801 |
| 30 Sep 22 | 1,580 | 745 | 299 | 688 |
| 30 Jun 22 | 1,438 | 558 | 268 | 683 |
| 31 Mar 22 | 1,342 | 354 | 228 | 667 |
| 31 Dec 21 | 1,288 | 452 | 196 | 640 |
| 30 Sep 21 | 1,232 | 448 | 156 | 590 |
| 30 Jun 21 | 1,168 | 401 | 134 | 541 |
| 31 Mar 21 | 1,703 | 880 | 119 | 512 |
| 31 Dec 20 | 1,660 | 781 | 108 | 515 |
| 30 Sep 20 | 1,736 | 889 | 86 | 453 |
| 30 Jun 20 | 1,559 | 853 | 73 | 417 |
| 31 Mar 20 | 837 | 349 | 56 | 378 |
| 31 Dec 19 | 806 | 325 | 51 | 358 |
| 30 Sep 19 | 532 | 223 | 42 | 317 |
| 30 Jun 19 | 487 | 178 | 39 | 291 |
| 31 Mar 19 | 441 | 202 | 36 | 250 |
| 31 Dec 18 | 464 | 226 | 33 | 220 |
| 30 Sep 18 | 437 | 222 | 30 | 191 |
| 30 Jun 18 | 397 | 194 | 28 | 174 |
| 31 Mar 18 | 462 | 213 | 26 | 164 |
| 31 Dec 17 | 381 | 178 | 24 | 137 |
| 30 Sep 17 | 361 | 184 | 21 | 126 |
| 30 Jun 17 | 356 | 208 | 19 | 110 |
| 31 Mar 17 | 272 | 174 | 16 | 101 |
| 31 Dec 16 | 257 | 168 | 14 | 94 |
| 30 Sep 16 | 221 | 111 | 15 | 97 |
| 30 Jun 16 | 205 | 102 | 14 | 90 |
| 31 Mar 16 | 183 | 82 | 14 | 81 |
| 31 Dec 15 | 165 | 111 | 13 | 71 |
| 30 Sep 15 | 116 | 66 | 14 | 66 |
| 30 Jun 15 | 115 | 69 | 14 | 66 |
Quality Earnings: GMAB has high quality earnings.
Growing Profit Margin: GMAB's current net profit margins (21%) are lower than last year (35.1%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: GMAB's earnings have grown by 18% per year over the past 5 years.
Accelerating Growth: GMAB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: GMAB had negative earnings growth (-27.7%) over the past year, making it difficult to compare to the Biotechs industry average (21.7%).
Return on Equity
High ROE: GMAB's Return on Equity (14.4%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/29 20:35 |
| End of Day Share Price | 2026/05/29 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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.
| Analyst | Institution |
|---|---|
| James Gordon | Barclays |
| Xue Chen | Barclays |
| Emily Field | Barclays |