Genmab Financials
Genmab (GMAB) reported $3.7B in revenue for fiscal year 2025, up 19.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Durable cash generation accompanied FY2025 balance-sheet expansion funded well beyond conventional long-term debt.
In FY2025, revenue growth reached19.2% , but net income contracted15.0% ; growth therefore did not translate into accounting profit at the prior rate. Operating cash flow and free cash flow still increased, while free-cash-flow margin fell from35.2% to30.9% , indicating cash scaled with sales but less efficiently than in FY2024.
Total assets nearly doubled from
Long-term debt was only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Genmab's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Genmab, and counted as zero in the overall score.
Genmab's revenue surged 19.2% year-over-year to $3.7B, reflecting rapid business expansion. This strong growth earns a score of 86/100.
Genmab carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.
Genmab's current ratio of 2.02 indicates adequate short-term liquidity, earning a score of 58/100. The company can meet its near-term obligations, though with limited headroom.
Genmab converts 30.9% of revenue into free cash flow ($1.1B). This strong cash generation earns a score of 96/100.
Not available for Genmab, and counted as zero in the overall score.
Genmab passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Genmab generates $1.23 in operating cash flow ($1.2B OCF vs $963.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Genmab generated $3.7B in revenue in fiscal year 2025. This represents an increase of 19.2% from the prior year.
Genmab reported $963.0M in net income in fiscal year 2025. This represents a decrease of 15.0% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Genmab generated $1.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 4.5% from the prior year.
Genmab held $1.7B in cash against $134.0M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Genmab's net profit margin was 25.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 10.4 percentage points from the prior year.
Genmab's ROE was 16.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.6 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Genmab spent $430.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 23.2% from the prior year.
Genmab invested $37.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 37.0% from the prior year.
Not reported for fiscal year 2025.
GMAB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 |
|---|---|---|---|---|---|
| Revenue | N/A | $925.0M | N/A | $779.0M | N/A |
| Interest Expense | N/A | $63.0M | N/A | $71.0M | N/A |
| Income Tax | N/A | $87.0M | N/A | $104.0M | N/A |
| Net Income | N/A | $336.0M | N/A | $203.0M | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EPS (Diluted).
GMAB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 |
|---|---|---|---|---|---|
| Total Assets | $12.9B+99.1% | $6.5B+0.8% | $6.4B | N/A | $5.2B |
| Current Assets | $2.9B-26.2% | $3.9B+0.3% | $3.9B | N/A | $4.9B |
| Cash & Equivalents | $1.7B+32.3% | $1.3B-6.1% | $1.4B+121.9% | $622.0M-71.8% | $2.2B |
| Inventory | $18.0M+38.5% | $13.0M+44.4% | $9.0M | N/A | $8.0M |
| Accounts Receivable | $1.1B+11.4% | $998.0M+8.1% | $923.0M | N/A | $733.0M |
| Goodwill | $355.0M0.0% | $355.0M0.0% | $355.0M | N/A | $0 |
| Total Liabilities | $7.0B+504.6% | $1.2B-9.0% | $1.3B | N/A | $545.0M |
| Current Liabilities | $1.4B+126.9% | $629.0M-15.5% | $744.0M | N/A | $368.0M |
| Long-Term Debt | $134.0M+1.5% | $132.0M+0.8% | $131.0M | N/A | $101.0M |
| Total Equity | $5.8B+10.3% | $5.3B+3.2% | $5.1B+15.6% | $4.4B-5.2% | $4.7B |
| Retained Earnings | $4.1B+13.9% | $3.6B+6.1% | $3.4B | N/A | $2.7B |
GMAB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 |
|---|
Not reported in any period shown, so not listed: Operating Cash Flow, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
GMAB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 |
|---|---|---|---|---|---|
| Net Margin | N/A | 36.3% | N/A | 26.1% | N/A |
| Return on Equity | N/A | 6.3% | N/A | 4.6% | N/A |
| Return on Assets | N/A | 5.2% | N/A | N/A | N/A |
| Current Ratio | 2.02-4.2x | 6.22+1.0x | 5.24 | N/A | 13.35 |
| Debt-to-Equity | 0.020.0x | 0.020.0x | 0.03 | N/A | 0.02 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.
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Where Genmab Ranks
Frequently Asked Questions
What is Genmab's annual revenue?
Genmab (GMAB) reported $3.7B in total revenue for fiscal year 2025. This represents a 19.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Genmab's revenue growing?
Genmab (GMAB) revenue grew by 19.2% year-over-year, from $3.1B to $3.7B in fiscal year 2025.
Is Genmab profitable?
Yes, Genmab (GMAB) reported a net income of $963.0M in fiscal year 2025, with a net profit margin of 25.9%.
How much debt does Genmab have?
As of fiscal year 2025, Genmab (GMAB) had $1.7B in cash and equivalents against $134.0M in long-term debt.
What is Genmab's net profit margin?
Genmab (GMAB) had a net profit margin of 25.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Genmab's return on equity (ROE)?
Genmab (GMAB) has a return on equity of 16.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Genmab's free cash flow?
Genmab (GMAB) generated $1.1B in free cash flow during fiscal year 2025. This represents a 4.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Genmab's operating cash flow?
Genmab (GMAB) generated $1.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Genmab's total assets?
Genmab (GMAB) had $12.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Genmab's capital expenditures?
Genmab (GMAB) invested $37.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Genmab's current ratio?
Genmab (GMAB) had a current ratio of 2.02 as of fiscal year 2025, which is generally considered healthy.
What is Genmab's debt-to-equity ratio?
Genmab (GMAB) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Genmab's return on assets (ROA)?
Genmab (GMAB) had a return on assets of 7.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Genmab's Piotroski F-Score?
Genmab (GMAB) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Genmab's earnings high quality?
Genmab (GMAB) has an earnings quality ratio of 1.23x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Genmab?
Genmab (GMAB) scores 55 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.