WallStSmart

argenx NV ADR (ARGX)vsGenmab AS (GMAB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

argenx NV ADR generates 29% more annual revenue ($5.32B vs $4.13B). ARGX leads profitability with a 32.3% profit margin vs 19.1%. ARGX appears more attractively valued with a PEG of 1.27. ARGX earns a higher WallStSmart Score of 73/100 (B).

ARGX

Strong Buy

73

out of 100

Grade: B

Growth: 10.0Profit: 9.5Value: 6.7Quality: 8.5
Piotroski: 3/9Altman Z: 4.92

GMAB

Buy

53

out of 100

Grade: C-

Growth: 4.0Profit: 8.0Value: 6.0Quality: 6.0
Piotroski: 2/9Altman Z: 1.70
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ARGXUndervalued (+64.8%)

Margin of Safety

+64.8%

Fair Value

$2371.09

Current Price

$984.39

$1386.70 discount

UndervaluedFair: $2371.09Overvalued
GMABUndervalued (+48.6%)

Margin of Safety

+48.6%

Fair Value

$58.54

Current Price

$32.47

$26.07 discount

UndervaluedFair: $58.54Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ARGX6 strengths · Avg: 10.0/10
Return on EquityProfitability
30.8%10/10

Every $100 of equity generates 31 in profit

Profit MarginProfitability
32.3%10/10

Keeps 32 of every $100 in revenue as profit

Operating MarginProfitability
32.0%10/10

Strong operational efficiency at 32.0%

Revenue GrowthGrowth
59.3%10/10

Revenue surging 59.3% year-over-year

EPS GrowthGrowth
95.2%10/10

Earnings expanding 95.2% YoY

Debt/EquityHealth
0.0110/10

Conservative balance sheet, low leverage

GMAB2 strengths · Avg: 9.0/10
Operating MarginProfitability
35.2%10/10

Strong operational efficiency at 35.2%

Revenue GrowthGrowth
24.9%8/10

Revenue surging 24.9% year-over-year

Areas to Watch

ARGX3 concerns · Avg: 3.0/10
P/E RatioValuation
39.4x4/10

Premium valuation, high expectations priced in

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Price/BookValuation
183.0x2/10

Trading at 183.0x book value

GMAB4 concerns · Avg: 3.3/10
P/E RatioValuation
26.7x4/10

Moderate valuation

Altman Z-ScoreHealth
1.704/10

Distress zone — elevated risk

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

PEG RatioValuation
5.762/10

Expensive relative to growth rate

Comparative Analysis Report

WallStSmart Research

Bull Case : ARGX

The strongest argument for ARGX centers on Return on Equity, Profit Margin, Operating Margin. Profitability is solid with margins at 32.3% and operating margin at 32.0%. Revenue growth of 59.3% demonstrates continued momentum.

Bull Case : GMAB

The strongest argument for GMAB centers on Operating Margin, Revenue Growth. Profitability is solid with margins at 19.1% and operating margin at 35.2%. Revenue growth of 24.9% demonstrates continued momentum.

Bear Case : ARGX

The primary concerns for ARGX are P/E Ratio, Piotroski F-Score, Price/Book.

Bear Case : GMAB

The primary concerns for GMAB are P/E Ratio, Altman Z-Score, Piotroski F-Score.

Key Dynamics to Monitor

GMAB carries more volatility with a beta of 0.70 — expect wider price swings.

ARGX is growing revenue faster at 59.3% — sustainability is the question.

ARGX generates stronger free cash flow (749M), providing more financial flexibility.

Monitor BIOTECHNOLOGY industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ARGX scores higher overall (73/100 vs 53/100), backed by strong 32.3% margins and 59.3% revenue growth. GMAB offers better value entry with a 48.6% margin of safety. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

argenx NV ADR

HEALTHCARE · BIOTECHNOLOGY · USA

argenx SE, a clinical-phase biotechnology company, focuses on the development of antibody-based therapies for the treatment of autoimmune diseases, hematology and cancer. The company is headquartered in Breda, the Netherlands.

Genmab AS

HEALTHCARE · BIOTECHNOLOGY · USA

Genmab A / S develops antibody therapies for the treatment of cancer and other diseases mainly in Denmark. The company is headquartered in Copenhagen, Denmark.

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