ARGX financial statements
The full income statement, balance sheet, and cash-flow statement for argenx SE American Depositary Shares (ARGX), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | — | — | 35.5M+254.4% | 10.0M-98.0% | 497M+1105.7% | |
| Cost of revenue | 451M+98.3% | 227M+92.9% | 118M+300.4% | 29.4M | — | |
| Research & development | 1.36B+38.7% | 983M+14.4% | 859M+29.6% | 663M+14.3% | 581M+56.5% | |
| Operating income | 1.05B+4966.6% | -21.7M+94.9% | -425M+41.0% | -720M-106.6% | -349M+27.0% | |
| Interest expense | 4.08M+65.7% | 2.46M+172.0% | 906K-76.8% | 3.91M-14.7% | 4.58M-42.5% | |
| Pre-tax income | 1.28B+1401.1% | 85.2M+128.0% | -304M+58.2% | -729M-82.4% | -400M+34.0% | |
| Income tax | -13.4M+98.2% | -748M-7819.7% | -9.44M+52.1% | -19.7M-331.4% | 8.52M+174.6% | |
| 1.29B+55.1% | 833M+382.3% | -295M+58.4% | -710M-73.8% | -408M+32.9% | ||
| Net income to common | 1.29B+55.1% | 833M+382.3% | -295M+58.4% | -710M-73.8% | -408M+32.9% | |
| $19.57+53.1% | $12.78+347.7% | -$5.16+60.5% | -$13.05-63.3% | -$7.99+40.4% | ||
| EPS (basic) | $21.08+51.4% | $13.92+369.8% | -$5.16+60.5% | -$13.05-63.3% | -$7.99+40.4% | |
| Weighted-avg shares (basic) | 61.3M+2.4% | 59.9M+4.7% | 57.2M+5.1% | 54.4M+6.5% | 51.1M+12.5% | |
| Weighted-avg shares (diluted) | 66.0M+1.3% | 65.2M+14.0% | 57.2M+5.1% | 54.4M | — | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 6.90B+41.3% | 4.88B+18.4% | 4.12B+48.6% | 2.77B+9.1% | 2.54B+23.6% | ||
| Cash & equivalents | 3.49B+132.8% | 1.50B-26.8% | 2.05B+155.9% | 801M-40.0% | 1.33B+9.7% | |
| Accounts receivable | 1.65B+82.1% | 904M+82.1% | 497M+80.2% | 276M+621.3% | 38.2M+447.7% | |
| Inventory | 474M+16.3% | 407M+31.1% | 311M+36.0% | 228M+109.4% | 109M+332.9% | |
| 8.68B+40.0% | 6.20B+36.5% | 4.54B+44.9% | 3.13B+10.0% | 2.85B+25.0% | ||
| Property, plant & equipment | — | — | 22.7M+39.7% | 16.2M+2.5% | 15.8M+36.8% | |
| Total non-current assets | 1.78B+35.2% | 1.32B+215.1% | 419M+16.3% | 360M+17.2% | 307M+38.2% | |
| Total current liabilities | 1.32B+97.1% | 670M+58.4% | 423M+39.9% | 302M+0.3% | 301M-8.3% | |
| Total liabilities | 1.36B+93.1% | 704M+58.3% | 445M+38.8% | 321M+1.4% | 316M-47.8% | |
| 7.32B+33.2% | 5.50B+34.2% | 4.10B+45.6% | 2.81B+11.0% | 2.53B+51.4% | ||
| Total equity incl. non-controlling | 7.32B+33.2% | 5.50B+34.2% | 4.10B+45.6% | 2.81B+11.0% | 2.53B+51.4% | |
| Common shares outstanding | 61.9M+1.8% | 60.8M+2.6% | 59.2M+6.9% | 55.4M+7.2% | 51.7M+8.6% | |
| Shares outstanding (cover) | 61.9M+1.8% | 60.8M+2.6% | 59.2M+6.9% | 55.4M+7.2% | 51.7M+8.6% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash from operations | 685M+928.1% | -82.7M+80.3% | -420M+51.3% | -863M-42.2% | -607M-52.3% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00-100.0% | 1.20B+57.3% | 761M-30.3% | 1.09B+34.2% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 52.0B+39.3% | 37.4B+77.3% | 21.1B+7.7% | 19.6B+8.2% | 18.1B+29.3% | |
| P/E | 40.3×-10.2% | 44.9× | — | — | — | |
| P/S | 1464.6×+39.3% | 1051.6×-50.0% | 2102.0×+5240.2% | 39.4×+8.2% | 36.4×-89.3% | |
| P/B | 7.1×+4.6% | 6.8×-9.3% | 7.5×-3.0% | 7.7×+8.2% | 7.1×-14.6% | |
| Earnings yield | 2.5%+11.4% | 2.2% | — | — | — | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: ARGX’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ARGX filings on SEC EDGAR → Not investment advice.