Share

Profile & Fundamentals

Argen-X Profile & Fundamentals

Name: Argen-X financial chart data preview
Creator: iPulse AI
License: https://ipulseai.com/terms

Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.

Interactive annual & quarterly chartsAI financial reviewsReported source tables

Explore this pageJump to a Profile & Fundamentals section

Explore this research

Profile & Fundamentals contents

Jump directly to any section

Company and Market Context

Company Profile & Ownership

argenx SE, a commercial-stage biopharma company, develops various therapies for the treatment of autoimmune diseases in the United States, Japan, China, the Netherlands, and internationally. The company offers VYVGART for the treatment of gMG and immune thrombocytopenia (ITP), and VYVGART HYTRULO for the treatment of gMG and chronic inflammatory demyelinating polyneuropathy (CIDP). It also develops efgartigimod for the treatment of seronegative gMG, ocular myasthenia gravis (MG), primary ITP, grave's disease, myositis, Sjögren's disease, systemic sclerosis, and AMR; empasiprubart for MMN, delayed graft function, and CIDP; and adimanebart for congenital myasthenic syndrome and spinal muscular atrophy. In addition, the company is developing ARGX-213, a neonatal Fc receptor (FcRn)-targeted antibody engineered for half-life extension and sustained IgG reduction; ARGX-124, a FcRn pipeline candidate; ARGX-109, which targets IL-6 to treat inflammation; ARGX-121, which targets immunoglobulin A; and ARGX-118, which develops antibodies against Galectin-10, as well as cusatuzumab, ARGX-112, ARGX-114, and ARGX-115. It has strategic partnerships and license agreements with Zai Lab to develop and commercialize efgartigimod; Halozyme Therapeutics to its ENHANZE for the prevention and treatment of human diseases; OncoVerity, Inc for cusatuzumab; and AbbVie, Inc. for ARGX-115. argenx SE was incorporated in 2008 and is based in Amsterdam, the Netherlands.

Company profile record

Argen-X

Common Stock · Health Care · Biotechnology

Official website

Company

Company / asset: Argen-X
Security type: Common Stock
Sector: Health Care
Industry: Biotechnology
HQ: 🇳🇱 Netherlands
Head office: Laarderhoogtweg 25, Amsterdam, Netherlands, 1101 EB

Leadership & scale

Chief executive: Ms. Karen Massey
CEO year born: 1979
Full-time employees: 1.9K
Fiscal year end: December
IPO date: 2017-05-18

Fundamentals snapshot

Updated 2026-09-12

Market Cap: EUR 56.1B
P/E: 26.5x
Revenue (Q2 26): USD 2.8B
Profit (Q2 26): USD 821.2M
Dividend Yield: --
Revenue (FY 25): USD 4.2B
Shares in public float: 62.4M
Insider ownership: 0.01%

Reporting & identifiers

Symbol: ARGX.BRU
Listing: 🇧🇪 Belgium | Dividend Tax: 30%
Ticker Currency: EUR
Income Statement Currency: USD
Balance Sheet Currency: USD
Cash Flow Currency: USD
EPS Currency: USD
Contract Type: SPOT
ISIN: NL0010832176
Asset ID: equity_913727ed-97f0-5377-91df-a1068ef091f3

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

The company has achieved a spectacular financial turning point, transitioning from a cash-burning research firm to a highly profitable commercial powerhouse. In 2025, revenue exploded by 85% to $4.15 billion, while net income swung strongly positive, generating $876 million in free cash flow. This explosive growth continued into early 2026, driven by the rapid adoption of its flagship drug. All reports agree that the company's financial engine is now self-sustaining and highly insulated from high interest rates. However, there is a clear disagreement regarding the future path of earnings. Optimistic forecasts expect profits to compound rapidly as new drug uses are approved. Cautious views warn that upcoming competition will slow revenue growth and force the company to spend heavily on marketing and price discounts, causing earnings growth to decelerate significantly from its current hyper-growth levels.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

Published P/E

Published valuation snapshots. Trailing four-quarter earnings where available; annual earnings otherwise. Non-positive earnings are omitted. Values in times earnings.

Profitability & Margins

AI Review

The company boasts elite profitability, highlighted by outstanding gross margins of 89% and operating margins that swung to nearly 25% in 2025. This rapid improvement reflects the immense pricing power of its rare-disease treatments. While there is consensus that current margins are stellar, reports clash sharply on their future direction. Optimists believe will continue to expand toward 35% to 45% as sales scale against fixed costs. Cautious analysts, however, argue that margins have peaked. They warn that the entry of powerful competitors will force the company to offer steep price discounts to insurance companies and heavily inflate its marketing budget to defend its market share. This commercial trench war, combined with potential government drug-pricing caps in the United States, represents a major threat that could halt margin expansion and trigger a downward adjustment in the stock's premium valuation.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

Complete Research Workspace

Unlock the complete Profile & Fundamentals

Sign in to verify your access, or upgrade to the Base plan to open the complete profile & fundamentals and available source data.

Sign in to check access View Base plan

Paywalled preview begins: Reported Data Tables — chart preview

From this section to the end-of-preview notice below, research is provided as simplified HTML text and tables. Full access provides the complete interactive interface, charts and additional datasets.

Reported Data Tables — chart preview

The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-15.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2016-12-31	15,473,686	10,241,470	-22,479,071	100	-145.56	-145.27	66.19
2017-12-31	43,687,165	-44,265,422	-33,682,846	100	-62.97	-77.1	-101.32
2018-12-31	24,573,324	-62,369,023	-76,230,839	100	-381.01	-310.22	-253.81
2019-12-31	78,462,000	104,895,000	-181,208,000	100	-253.49	-230.95	133.69
2020-12-31	36,178,881	-403,602,000	-608,455,000	-697	-1,320.15	-1,681.8	-1,115.57
2021-12-31	528,265,999	-728,246,000	-408,265,000	94.13	-66.02	-77.28	-137.86
2022-12-31	410,747,000	-966,630,000	-709,594,000	92.83	-175.37	-172.76	-235.33
2023-12-31	1,226,316,000	-464,139,000	-295,053,000	90.39	-34.66	-24.06	-37.85
2024-12-31	2,248,205,000	-84,548,000	833,040,000	87.31	-0.96	37.05	-3.76
2025-12-31	4,153,482,000	876,012,933	1,344,711,182	89.15	24.82	32.38	21.09

Published valuation snapshots
Period end	P/E (times earnings)	Earnings basis
2025-12-31	33.8	Trailing four quarters
2024-12-31	55.09	Trailing four quarters

Shares outstanding — chart values
Reporting date	Shares outstanding
2017-01-01	27,462,700
2018-01-01	34,463,600
2019-01-01	39,474,000
2020-01-01	47,344,800
2021-01-01	51,513,000
2022-01-01	55,312,800
2023-01-01	58,647,600
2024-01-01	70,955,400
2025-01-01	66,209,000
2026-01-01	64,409,500

End of the paywalled preview

The excerpt from Reported Data Tables — chart preview to this notice is the simplified paywalled content included on this page. A signed-in, verified account with the required subscription provides the full interactive interface and the additional research, datasets and tools listed below.

Those additional materials are not included in this preview and cannot be revealed by removing its visual restrictions.

Additional with full access

Earnings, Profitability & Valuation
- Complete profitability ratios
- EPS history and estimate comparisons
- Execution vs expectations
- Annual and quarterly financial views
Capital Expenditure & R&D
- Capital allocation AI review
- Annual capital expenditure
- Investment intensity trends
- Capex and R&D intensity indicators
Balance Sheet
- Balance sheet AI review
- Assets, debt and equity
- Capital structure
- Liquidity and leverage
- Retained earnings
Dividends & Actions
- Cash dividends paid
- Dividend indicators
- Buybacks and issuance
- Combined shareholder returns
- Available corporate actions

Explore complete public research examples

These public assets show the complete asset profiles, fundamental datasets and analysis. Their findings concern those assets, not this report.