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Genmab AS (GMAB) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · BIOTECHNOLOGY · DATA UPDATED 2026-09-12

Genmab AS (GMAB) operates in the BIOTECHNOLOGY industry and is headquartered in Copenhagen, Denmark with about 3,119 employees. Its market capitalization is roughly $21 billion. In the fiscal year ended 2025-12-31, GMAB reported $3.7B in revenue and $964M in net income.

Genmab A/S, a biotechnology company, develops antibody-based products and product candidates for the treatment of cancer and other diseases in Denmark.

Interactive charts & full statements → Open the GMAB valuation workbench →

GMAB Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$4.1B	$3.7B	$21.5B	$16.5B	$14.5B	$8.4B	$10.1B	$5.4B	$3.0B	$2.4B	$1.8B	$1.1B	$850M	$664M	$485M	$351M	$582M	$586M	$692M	$530M	$136M
Gross Profit	$3.8B	$3.4B	$20.5B	$16.2B	$14.5B	$8.4B	$10.1B	$5.4B	$3.0B	$2.4B	$1.8B	$1.1B	$850M	$664M	$485M	($182M)	$0M	$586M	$696M	$530M	$136M
Gross Margin %	93.0%	91.7%	95.4%	98.6%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	-51.7%	-0.1%	100.0%	100.6%	100.0%	100.0%
Operating Income (EBIT)	$1.3B	$1.3B	$6.7B	$5.3B	$6.3B	$3.0B	$6.3B	$2.6B	$1.4B	$1.3B	$1.1B	$730M	$265M	$69M	($117M)	($249M)	($161M)	($498M)	($728M)	($437M)	($472M)
Operating Margin %	32.3%	33.6%	31.1%	32.3%	43.2%	35.1%	62.4%	49.2%	45.6%	56.8%	58.0%	64.5%	31.2%	10.4%	-24.1%	-71.1%	-27.6%	-85.0%	-105.2%	-82.5%	-348.4%
Net Income	$788M	$964M	$7.8B	$4.4B	$5.5B	$3.0B	$4.8B	$2.2B	$1.5B	$1.1B	$1.2B	$764M	$301M	$112M	($487M)	($596M)	($321M)	($1.0B)	($965M)	($383M)	($438M)
Net Margin %	19.1%	25.9%	36.4%	26.4%	37.6%	35.1%	47.1%	40.4%	48.7%	46.7%	65.4%	67.4%	35.4%	16.9%	-100.5%	-169.9%	-55.2%	-172.5%	-139.4%	-72.4%	-323.3%
EBITDA	$1.2B	$1.3B	$9.7B	$5.9B	$7.3B	$4.2B	$6.2B	$3.0B	$1.7B	$1.5B	$1.2B	$789M	$314M	$81M	($96M)	($193M)	($62M)	($77M)	($516M)	($318M)	($420M)
Earnings Per Share (EPS)	$1.27	$1.54	$12.14	$6.60	$8.26	$4.48	$7.22	$3.40	$2.37	$1.78	$1.92	$1.26	$0.53	$0.22	$-1.06	$-1.33	$-0.72	$-2.25	$-2.16	$-0.87	$-1.13
Shares Outstanding (M)	617M	627M	646M	659M	660M	660M	659M	636M	620M	621M	618M	608M	573M	519M	460M	449M	449M	449M	446M	439M	389M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GMAB Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$1.2B	$899M	$1.1B	$1.0B	$925M	$105M	$6.4B	$5.5B
Gross Profit	$1.1B	$834M	$974M	$964M	$868M	$99M	$6.1B	$5.3B
Gross Margin %	92.7%	92.8%	92.3%	94.3%	93.8%	94.1%	94.8%	95.1%
Operating Income (EBIT)	$407M	$226M	$242M	$459M	$360M	$28M	$2.2B	$2.1B
Operating Margin %	35.2%	25.1%	23.0%	44.9%	38.9%	26.3%	33.5%	37.9%
Net Income	$303M	$53M	$31M	$401M	$336M	$29M	$3.8B	$1.3B
Net Margin %	26.2%	5.9%	2.9%	39.2%	36.3%	27.3%	59.7%	22.9%
EBITDA	$431M	$187M	$99M	$503M	$448M	$39M	$2.4B	$2.2B
Earnings Per Share (EPS)	$0.49	$0.08	$0.05	$0.65	$0.54	$0.04	$5.99	$1.95
Shares Outstanding (M)	617M	639M	673M	621M	620M	639M	642M	649M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GMAB Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$890M	$1.2B	$7.8B	$7.4B	$3.9B	$2.2B	$6.4B	$1.3B	$1.0B	$1.6B	$328M	$311M	$133M	($128M)	$71M	($437M)	$268M	($570M)	($513M)	$506M	($380M)
Capital Expenditures (CapEx)	$23M	$37M	$187M	$376M	$317M	$252M	$307M	$111M	$477M	$89M	$33M	$135M	$75M	$10M	$9M	$7M	$10M	$17M	$53M	$13M	$2M
Free Cash Flow (FCF)	$867M	$1.1B	$7.6B	$7.0B	$3.6B	$2.0B	$6.1B	$1.2B	$537M	$1.5B	$295M	$176M	$57M	($138M)	$62M	($444M)	$258M	($587M)	($566M)	$493M	($382M)
FCF Margin %	21.0%	30.9%	35.2%	42.5%	24.8%	23.5%	60.6%	22.6%	17.8%	63.4%	16.2%	15.5%	6.7%	-20.8%	12.8%	-126.6%	44.3%	-100.1%	-81.8%	93.1%	-281.5%
Dividends Paid	—	—	—	—	$280M	$135M	$115M	$9M	$0M	$0M	$0M	$0M	—	—	—	—	—	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GMAB Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$51M	$3M	$300M	$536M	$62M	$287M	$326M	$2.0B
Capital Expenditures (CapEx)	$3M	$5M	$13M	$2M	$10M	$30M	$27M	$48M
Free Cash Flow (FCF)	$48M	($2M)	$287M	$534M	$52M	$257M	$299M	$2.0B
FCF Margin %	4.2%	-0.2%	27.2%	52.2%	5.6%	244.2%	4.7%	35.8%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GMAB Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$12.5B	$12.8B	$45.8B	$35.3B	$30.1B	$24.6B	$21.1B	$15.1B	$8.5B	$6.6B	$5.2B	$3.9B	$2.9B	$1.7B	$1.7B	$1.6B	$2.5B	$2.2B	$3.3B	$4.0B	$1.8B
Cash & Cash Equivalents	$1.5B	$1.7B	$9.9B	$14.9B	$9.9B	$9.0B	$7.3B	$3.6B	$533M	$1.3B	$307M	$874M	$359M	$168M	$67M	$65M	$101M	$461M	$70M	$132M	$429M
Total Liabilities	$6.6B	$7.0B	$9.1B	$3.7B	$2.8B	$2.4B	$2.0B	$1.1B	$447M	$331M	$412M	$416M	$834M	$1.1B	$1.3B	$1.1B	$1.4B	$924M	$1.1B	$1.1B	$197M
Total Debt (Short + Long-Term)	$5.2B	$5.3B	$92M	$90M	$74M	$62M	$42M	$26M	$0M	$0M	$62M	$0M	$0M	$2M	$4M	$12M	$122M	$7M	$6M	$7M	$7M
Total Shareholders' Equity	$6.0B	$5.8B	$36.7B	$31.6B	$27.3B	$22.2B	$19.1B	$14.0B	$8.0B	$6.3B	$4.8B	$3.5B	$2.0B	$660M	$383M	$486M	$1.1B	$1.3B	$2.2B	$2.9B	$1.6B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive GMAB viewer.

Other Companies in BIOTECHNOLOGY

ALNY · Alnylam Pharmaceuticals Inc — $32 billion
ROIV · Roivant Sciences Ltd — $29 billion
INSM · Insmed Inc — $26 billion
BNTX · BioNTech SE — $24 billion
JAZZ · Jazz Pharmaceuticals PLC — $16 billion
ASND · Ascendis Pharma AS — $16 billion
EXEL · Exelixis Inc — $14 billion
SMMT · Summit Therapeutics PLC — $14 billion

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