GMAB on Nasdaq
GENMAB A/S
These forward-looking statements include, but are not limited to, statements about:.5 From its latest annual report
$38.05 up 1.16 (3.14%)Price as of Oct 15, 2026 at 17:33 UTC
Last updated Oct 19, 2026.
Overview
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- TickerGMAB on Nasdaq1
- IndustryPharmaceutical Preparations1
- Business addressToldbodgade 33, 1253 Copenhagen K, G7 000004
- Filer categoryLarge accelerated filer4
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These forward-looking statements include, but are not limited to, statements about:5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
28.6%Operating margin3
25.9%Net margin3
19.2%Revenue growth, 20253
16.5%Return on equity3
0.86×Debt to equity3
$1.1BFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Regions
Denmark brought in 89% of the revenue GENMAB A/S broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| Denmark | $2.3B | $2.9B | $3.3B |
| Japan | $6.0M | $122.0M | $213.0M |
| United States | $55.0M | $131.0M | $180.0M |
| Netherlands | $0 | $0 | $1.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue6¢$238.0M
- Research and development41¢$1.6B
- Selling, general and admin16¢$626.0M
- Interest7¢$269.0M
- Income tax6¢$241.0M
- Profit24¢$963.0M
Out of $3.7B in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Capital spending3¢$37.0M
- Kept or used elsewhere97¢$1.1B
Out of $1.2B of cash from operations.3
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $3.7B | $3.1B | $2.4B |
| Cost of product sales | -$238.0M | -$143.0M | -$33.0M |
| Research and development expenses | -$1.6B | -$1.4B | -$1.1B |
| Selling, general and administrative expenses | -$626.0M | -$549.0M | -$478.0M |
| Acquisition and integration related charges | -$185.0M | -$43.0M | $0 |
| Total costs and operating expenses | -$2.7B | -$2.1B | -$1.6B |
| Operating profit | $1.1B | $972.0M | $772.0M |
| Financial income | $408.0M | $645.0M | $299.0M |
| Financial expenses | -$269.0M | -$291.0M | -$254.0M |
| Net profit before tax | $1.2B | $1.3B | $817.0M |
| Corporate tax | -$241.0M | -$193.0M | -$186.0M |
| Net profit | 963.0M DKK | 7.8B DKK | 4.4B DKK |
| Exchange differences on translation of foreign operations | $45.0M | -$224.0M | $139.0M |
| Total comprehensive income | 1.0B DKK | 8.3B DKK | 4.3B DKK |
| Basic net profit per share (in dollars per share) | 15.50 DKK | 122.21 DKK | 66.64 DKK |
| Diluted net profit per share (in dollars per share) | 15.37 DKK | 121.36 DKK | 66.02 DKK |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Goodwill | $355.0M | $355.0M | $0 | |
| Other intangible assets | $9.1B | $1.7B | $15.0M | |
| Property and equipment | $153.0M | $137.0M | $142.0M | |
| Right-of-use assets | $127.0M | $128.0M | $102.0M | $75.0M |
| Receivables | $22.0M | $7.0M | $10.0M | |
| Deferred tax assets | $171.0M | $127.0M | $31.0M | |
| Other investments | $37.0M | $32.0M | $20.0M | |
| Total non-current assets | $10.0B | $2.5B | $320.0M | |
| Corporate tax receivable | $40.0M | $14.0M | $0 | |
| Inventories | $18.0M | $9.0M | $8.0M | |
| Receivables | $1.1B | $923.0M | $733.0M | |
| Marketable securities | $0 | $1.6B | $2.0B | |
| Cash and cash equivalents | $1.7B | $1.4B | $2.2B | $1.4B |
| Total current assets | $2.9B | $3.9B | $4.9B | |
| Total assets | 12.9B DKK | 45.8B DKK | 35.3B DKK | |
| Share capital | 64.0M DKK | 66.0M DKK | 66.0M DKK | 66.0M DKK |
| Share premium | $1.9B | $2.0B | $1.9B | |
| Other reserves | -$181.0M | -$226.0M | -$2.0M | |
| Retained earnings | $4.1B | $3.4B | $2.7B | |
| Total shareholders' equity | $5.8B | $36.7B | $31.6B | $3.9B |
| Borrowings | $5.0B | $0 | $0 | |
| Lease liabilities | $134.0M | $131.0M | $101.0M | |
| Contract Liabilities | $95.0M | $67.0M | $71.0M | |
| Deferred tax liabilities | $364.0M | $330.0M | $0 | |
| Other payables | $5.0M | $5.0M | $5.0M | |
| Total non-current liabilities | $5.6B | $533.0M | $177.0M | |
| Borrowings | $273.0M | $0 | $0 | |
| Corporate tax payable | $43.0M | $239.0M | $8.0M | |
| Lease liabilities | $18.0M | $13.0M | $13.0M | |
| Contract liabilities | $24.0M | $3.0M | $5.0M | |
| Other payables | $1.1B | $489.0M | $342.0M | |
| Total current liabilities | $1.4B | $744.0M | $368.0M | |
| Total liabilities | 7.0B DKK | 9.1B DKK | 3.7B DKK | |
| Total shareholders' equity and liabilities | $12.9B | $6.4B | $5.2B |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Goodwill | $355.0M | $355.0M | $0 | |
| Other intangible assets | $9.1B | $1.7B | $15.0M | |
| Property and equipment | $153.0M | $137.0M | $142.0M | |
| Right-of-use assets | $127.0M | $128.0M | $102.0M | $75.0M |
| Receivables | $22.0M | $7.0M | $10.0M | |
| Deferred tax assets | $171.0M | $127.0M | $31.0M | |
| Other investments | $37.0M | $32.0M | $20.0M | |
| Total non-current assets | $10.0B | $2.5B | $320.0M | |
| Corporate tax receivable | $40.0M | $14.0M | $0 | |
| Inventories | $18.0M | $9.0M | $8.0M | |
| Receivables | $1.1B | $923.0M | $733.0M | |
| Marketable securities | $0 | $1.6B | $2.0B | |
| Cash and cash equivalents | $1.7B | $1.4B | $2.2B | $1.4B |
| Total current assets | $2.9B | $3.9B | $4.9B | |
| Total assets | 12.9B DKK | 45.8B DKK | 35.3B DKK | |
| Share capital | 64.0M DKK | 66.0M DKK | 66.0M DKK | 66.0M DKK |
| Share premium | $1.9B | $2.0B | $1.9B | |
| Other reserves | -$181.0M | -$226.0M | -$2.0M | |
| Retained earnings | $4.1B | $3.4B | $2.7B | |
| Total shareholders' equity | $5.8B | $36.7B | $31.6B | $3.9B |
| Borrowings | $5.0B | $0 | $0 | |
| Lease liabilities | $134.0M | $131.0M | $101.0M | |
| Contract Liabilities | $95.0M | $67.0M | $71.0M | |
| Deferred tax liabilities | $364.0M | $330.0M | $0 | |
| Other payables | $5.0M | $5.0M | $5.0M | |
| Total non-current liabilities | $5.6B | $533.0M | $177.0M | |
| Borrowings | $273.0M | $0 | $0 | |
| Corporate tax payable | $43.0M | $239.0M | $8.0M | |
| Lease liabilities | $18.0M | $13.0M | $13.0M | |
| Contract liabilities | $24.0M | $3.0M | $5.0M | |
| Other payables | $1.1B | $489.0M | $342.0M | |
| Total current liabilities | $1.4B | $744.0M | $368.0M | |
| Total liabilities | 7.0B DKK | 9.1B DKK | 3.7B DKK | |
| Total shareholders' equity and liabilities | $12.9B | $6.4B | $5.2B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net profit before tax | $1.2B | $1.3B | $817.0M |
| Financial income | -$408.0M | -$645.0M | -$299.0M |
| Financial expense | $269.0M | $291.0M | $254.0M |
| Share-based compensation expense | $128.0M | $105.0M | $85.0M |
| Depreciation | $55.0M | $49.0M | $40.0M |
| Amortization | $16.0M | $11.0M | $3.0M |
| Impairment losses | $32.0M | $17.0M | $0 |
| Receivables | -$166.0M | -$230.0M | $116.0M |
| Inventories | -$9.0M | -$1.0M | -$8.0M |
| Other payables | $400.0M | $122.0M | $90.0M |
| Cash flows from operating activities before financial items | $1.5B | $1.0B | $1.1B |
| Interest received | $135.0M | $136.0M | $131.0M |
| Interest elements of lease payments | -$5.0M | -$5.0M | -$3.0M |
| Interest paid | -$5.0M | $0 | $0 |
| Corporate taxes paid | -$460.0M | -$50.0M | -$155.0M |
| Net cash provided by operating activities | 1.2B DKK | 7.8B DKK | 7.4B DKK |
| Acquisition of business, net of cash acquired | $0 | -$1.8B | $0 |
| Acquisition of assets, net of cash acquired | -$7.2B | $0 | $0 |
| Investment in intangible assets | -$18.0M | -$17.0M | -$1.0M |
| Investment in tangible assets | -$37.0M | -$27.0M | -$53.0M |
| Marketable securities bought | -$991.0M | -$1.2B | -$1.6B |
| Marketable securities sold | $2.6B | $1.6B | $1.5B |
| Other investments bought | -$4.0M | -$8.0M | -$4.0M |
| Net cash (used in) investing activities | -5.6B DKK | -9.9B DKK | -1.3B DKK |
| Warrants exercised | $23.0M | $19.0M | $21.0M |
| Principal elements of lease payments | -$13.0M | -$9.0M | -$14.0M |
| Purchase of treasury shares | -$430.0M | -$560.0M | -$81.0M |
| Payment of withholding taxes on behalf of employees on net settled RSUs | -$18.0M | -$16.0M | -$15.0M |
| Proceeds from issuance of borrowings | $5.5B | $0 | $0 |
| Debt issuance costs paid | -$273.0M | $0 | $0 |
| Net cash provided by (used in) financing activities | 4.8B DKK | -3.9B DKK | -606.0M DKK |
| Changes in cash and cash equivalents | $332.0M | -$887.0M | $797.0M |
| Exchange rate adjustments | $3.0M | $63.0M | -$12.0M |
No quarter-by-quarter statement was filed.
Filings
359 filings to the SEC since October 2021: 5 annual reports, 12 large holders, 342 other. The latest 20:
- Oct 13, 20266-K EDGAR
- Oct 7, 20266-K EDGAR
- Oct 5, 20266-K EDGAR
- Oct 5, 2026SCHEDULE 13G EDGAR
- Oct 2, 20266-K EDGAR
- Sep 29, 20266-K EDGAR
- Sep 24, 20266-K EDGAR
- Sep 9, 20266-K EDGAR
- Sep 9, 20266-K EDGAR
- Sep 8, 20266-K EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 12, 20266-K EDGAR
- Aug 11, 20266-K EDGAR
- Aug 6, 20266-K EDGAR
- Jul 15, 20266-K EDGAR
- Jun 29, 20266-K EDGAR
- Jun 17, 20266-K EDGAR
- Jun 16, 20266-K EDGAR
- Jun 15, 20266-K EDGAR
- Jun 15, 20266-K EDGAR
The 359 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Darwin Global Management, Ltd.SCHEDULE 13G, 1 filing Oct 5, 20266
- ORBIS INVESTMENT MANAGEMENT LTDSCHEDULE 13G/A, 4 filings Nov 14, 2025 to Aug 14, 20267
- Wellington Management CompanySC 13G/A, 2 filings Feb 6, 2023 to Feb 8, 20248
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Paradigm Biocapital Advisors LP | 13,133,131 | $360.8M | 6.8% | +5,165,295 |
| Orbis Allan Gray Ltd | 11,368,161 | $312.3M | 1.1% | −1,557,417 |
| Alliancebernstein L.P. | 8,644,877 | $231.9M | 0.1% | −912,272 |
| Deerfield Management Company, L.P. | 6,865,000 | $188.6M | 2.3% | +4,403,000 |
| Deep Track Capital, LP | 5,650,000 | $155.2M | 2.3% | +1,986,750 |
| Arrowstreet Capital, Limited Partnership | 4,975,324 | $136.7M | 0.1% | No change |
| BlackRock, Inc. | 4,671,252 | $128.3M | 0.0% | +134,687 |
| Sofinnova Investments, Inc. | 4,045,215 | $111.1M | 5.9% | +3,292,954 |
| Renaissance Technologies LLC | 3,517,850 | $96.6M | 0.1% | −896,700 |
| Two Sigma Investments, LP | 3,506,843 | $96.3M | 0.1% | +1,167,411 |
| Harding Loevner LP | 3,086,318 | $86.9M | 0.8% | −145,283 |
| First Trust Advisors LP | 2,756,522 | $75.7M | 0.0% | +295,180 |
| Citadel Advisors LLC | 2,475,991 | $68.0M | 0.0% | New |
| Qube Research & Technologies Ltd | 1,689,284 | $46.4M | 0.1% | +1,011,938 |
| Morgan Stanley | 1,630,161 | $44.8M | 0.0% | −554,540 |
| Federated Hermes, Inc. | 1,449,376 | $39.8M | 0.1% | +197,786 |
| Goldman Sachs Group Inc | 1,279,231 | $35.1M | 0.0% | +347,972 |
| Franklin Resources Inc | 1,202,923 | $33.0M | 0.0% | +9,778 |
| Pictet Asset Management Holding SA | 1,065,927 | $29.3M | 0.0% | −11,544 |
| UBS Group AG | 961,053 | $26.4M | 0.0% | +662,921 |
| Perpetual Ltd | 919,048 | $25.2M | 0.4% | +160,545 |
| Northern Trust Corp | 916,600 | $25.2M | 0.0% | −33,934 |
| Millennium Management LLC | 910,604 | $25.0M | 0.0% | +118,311 |
| Russell Investments Group, Ltd. | 883,430 | $24.3M | 0.0% | +86,362 |
| Envestnet Asset Management Inc | 829,687 | $22.8M | 0.0% | −32,614 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
12 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Mar 30, 2026 | Alan ArmstrongRepublican, Senate | Buy | $1,001 - $15,000 | +24.3% | Report |
| Jan 16, 2025 | Josh GottheimerDemocratic, House | Buy | $1,001 - $15,000 | +47.8% | Report |
| Dec 16, 2024 | Josh GottheimerDemocratic, House | Sale | $1,001 - $15,000 | −61.7% | Report |
| Jul 19, 2024 | Josh GottheimerDemocratic, House | Buy | $1,001 - $15,000 | −4.3% | Report |
| Jun 18, 2024 | Josh GottheimerDemocratic, House | Sale | $1,001 - $15,000 | −5.9% | Report |
| Oct 16, 2023 | Josh GottheimerDemocratic, House | Buy | $1,001 - $15,000 | −60.8% | Report |
| Sep 15, 2023 | Josh GottheimerDemocratic, House | Sale | $1,001 - $15,000 | +74.5% | Report |
| Jul 20, 2023 | Josh GottheimerDemocratic, House | Buy | $1,001 - $15,000 | −79.4% | Report |
| Jul 19, 2023 | Josh GottheimerDemocratic, House | Buy | $1,001 - $15,000 | −77.1% | Report |
| Jul 10, 2023 | Daniel S. GoldmanDemocratic, House | Sale | $50,001 - $100,000 | +75.6% | Report |
| Mar 31, 2023 | Daniel S. GoldmanDemocratic, House | Partial sale | $1,001 - $15,000 | +88.4% | Report |
| Nov 20, 2020 | Thomas R Carper, Senate | Buy | $1,001 - $15,000 | −113.7% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARGENMAB A/S filings on SEC EDGAR
- 2Yahoo FinanceGMAB quote
- 3SEC EDGARGENMAB A/S 10-K for fiscal 2025
- 4SEC EDGARGENMAB A/S filings on SEC EDGAR
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