argenx SE (ARGX) Key Metrics
ARGX valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $51.51B
- Enterprise value
- $54.72B
- P/E (TTM)
- 31.2
- Forward P/E
- 25.9
- PEG ratio
- 1.15
- Price / sales
- 9.7
- Price / book
- 7.0
- EV / EBITDA
- 30.7
- Dividend yield
- —
- Beta
- −0.04
ARGX key metrics, 2024–2025
Fiscal year ended December 31, 2025 · U.S. dollarsARGX valuation Price multiples at each fiscal year-end price.
ARGX returns How much profit the business earns on the capital it uses.
ARGX per-share figures Results divided by the shares outstanding at year-end.
ARGX financial health Debt, liquidity and how easily interest is covered.
ARGX efficiency & capital use Working capital cycle and where the cash goes.
ARGX valuation history
ARGX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ARGX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ARGX cash returned to shareholders
ARGX price vs earnings per share
ARGX key metrics
2024–2025| 2025 | 2024 | |
|---|---|---|
| Valuation | ||
| Market capitalization | $55.53B | $40.08B |
| Enterprise value | $51.17B | $36.74B |
| P/E ratio | 43.0 | 48.1 |
| Price / sales | 13.4 | 18.3 |
| Price / book | 7.6 | 7.3 |
| Price / free cash flow | 65.8 | — |
| Price / operating cash flow | 65.3 | — |
| EV / sales | 12.3 | 16.8 |
| EV / EBITDA | 39.0 | 349.4 |
| EV / free cash flow | 60.6 | — |
| Earnings yield | 2.3% | 2.1% |
| Free cash flow yield | 1.5% | −0.4% |
| Shareholder yield (dividends + buybacks) | — | 0.1% |
| Share price at fiscal year-end | $840.95 | $615.00 |
| Per share | ||
| Revenue per share | $62.90 | $33.60 |
| Earnings per share | $19.57 | $12.78 |
| Operating cash flow per share | $12.88 | −$1.27 |
| Free cash flow per share | $12.79 | −$2.32 |
| Cash per share | $67.24 | $51.84 |
| Book value per share | $110.91 | $84.36 |
| Tangible book value per share | $106.79 | $81.48 |
| Capex per share | $0.09 | $1.05 |
| Debt per share | $1.26 | $0.60 |
| Shares outstanding | 66.0M | 65.2M |
| Change in shares outstanding | +1.3% | — |
| Returns & profitability | ||
| Return on equity (ROE) | 20.2% | 15.2% |
| Return on invested capital (ROIC) | 41.2% | −1.0% |
| Return on assets (ROA) | 17.4% | 13.4% |
| Return on tangible assets | 15.4% | 13.8% |
| Free cash flow margin | 20.3% | −6.9% |
| Income quality (OCF / net income) | 0.66 | −0.10 |
| Financial health | ||
| Total debt | $83.5M | $39.1M |
| Cash & short-term investments | $4.44B | $3.38B |
| Net debt | −$4.36B | −$3.34B |
| Debt / equity | 0.01 | 0.01 |
| Debt / assets | 0.01 | 0.01 |
| Net debt / EBITDA | −3.32 | −31.76 |
| Current ratio | 5.23 | 7.29 |
| Quick ratio | 4.87 | 6.68 |
| Interest coverage | 258.4 | -9.8 |
| Working capital | $5.58B | $4.21B |
| Invested capital | $2.97B | $2.16B |
| Tangible asset value | $7.05B | $5.31B |
| Net current asset value | $5.54B | $4.18B |
| Graham number | $220.97 | $155.75 |
| Graham net-net per share | $69.06 | $54.62 |
| Capital allocation | ||
| Share buybacks (net) | — | $21.9M |
| Capex / revenue | 0.1% | 3.1% |
| Capex / operating cash flow | 0.7% | — |
| Capex / depreciation | 0.22 | 3.90 |
| Stock-based compensation / revenue | 6.0% | 10.7% |
| R&D / revenue | 32.8% | 44.9% |
| SG&A / revenue | 22.4% | 34.2% |
| Efficiency | ||
| Days sales outstanding | 112.8 | 151.5 |
| Days of inventory on hand | 356.7 | 654.0 |
| Days payables outstanding | 651.7 | 549.6 |
| Cash conversion cycle (days) | -182.3 | 255.9 |
| Receivables turnover | 3.24 | 2.41 |
| Payables turnover | 0.56 | 0.66 |
| Inventory turnover | 1.02 | 0.56 |
| Asset turnover | 0.56 | 0.35 |
| Average receivables | $1.28B | $909.1M |
| Average payables | $804.7M | $342.2M |
| Average inventory | $440.4M | $407.2M |
| Intangibles / total assets | 3.1% | 3.0% |
Computed from ARGX's annual financial statements (latest annual report filed March 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ARGX valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), argenx traded at 43.0 times earnings. Based on the latest twelve months, the trailing P/E is 31.2 and the forward P/E is 25.9. argenx earned a return on equity of 20.2% and a return on invested capital of 41.2% in fiscal 2025. It ended the year with $83.5 million of debt and $4.4 billion in cash and short-term investments, a net cash position of $4.4 billion.
See the ARGX income statement, the ARGX chart for price history, or the ARGX stock overview for the latest quote and news.
ARGX key metrics FAQ
What is argenx's P/E ratio?
argenx's trailing P/E ratio is 31.2 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 25.9. At the end of fiscal 2025 it was 43.0.
What is argenx's EV/EBITDA?
argenx's enterprise value was 39.0 times EBITDA at the end of fiscal 2025 (enterprise value $51.2 billion, EBITDA $1.3 billion); the current EV/EBITDA is 30.7.
What is argenx's return on equity?
argenx's return on equity (ROE) was 20.2% in fiscal 2025: net income of $1.3 billion on average shareholders' equity of $6.4 billion.
What is argenx's ROIC?
argenx's return on invested capital was 41.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does argenx have?
argenx had total debt of $83.5 million at the end of fiscal 2025, a debt-to-equity ratio of 0.01 and more cash than debt.
What is argenx's free cash flow yield?
argenx generated $844.3 million of free cash flow in fiscal 2025, a free cash flow yield of 1.5% on its market value at year-end ($55.5 billion).
What is argenx's current ratio?
argenx's current ratio was 5.23 at the end of fiscal 2025: current assets were 5.23 times current liabilities.