argenx (ARGX.BR): analysis in plain words
Is argenx cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
argenx (ARGX.BR) is listed on Euronext Brussels and we classify it in healthcare and pharma. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against argenx according to those figures, and the questions people ask most about the stock. No buy or sell tips.
argenx (ARGX.BR) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €815.00 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 32.8x | Price over earnings per share |
| Revenue growth | +52.1% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 31.7% | Profit for every 100 of sales |
| Net debt / EBITDA | Net cash (more cash than debt) | Years of operating profit to repay debt |
| Dividend yield | 0.00% | Annual dividend over price |
| Market cap | €51.3 billion | What the stock market values it at |
The argenx figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any ARGX.BR figure that is not available shows as N/A: we do not estimate it.
How argenx makes money
argenx is a biotech that earns its money from Vyvgart, its antibody-based treatment for autoimmune diseases such as myasthenia gravis and CIDP, sold in IV and under-the-skin forms. Nearly all sales come from this product, mostly in the US, followed by Japan and Europe, and it reinvests in research for new uses.
Over the last 12 months, argenx brought in revenue of $5.9 billion. For every 100 it sells, argenx keeps 59.8 after the direct cost of what it sells (gross margin) and 36.3 after all operating costs (operating margin). With 1,863 full-time employees, that is about $3 million of revenue per employee.
argenx against its sector
To know whether a argenx figure is high or low you have to put it next to similar companies. This table compares argenx with the median of the 30 healthcare and pharma companies Fintols covers, with data as of November 4, 2026.
| Figure | argenx | healthcare and pharma median |
|---|---|---|
| P/E | 32.8x | 31.3x (30) |
| Revenue growth | +52.1% | +8.3% (33) |
| Net margin | 31.7% | 14.9% (33) |
| Dividend yield | 0.00% | 1.52% (33) |
| Net debt / EBITDA | -2.7x | 1.6x (31) |
In short, against the typical healthcare and pharma company, argenx grows faster, earns a wider margin and pays a lower dividend yield. By size, argenx ranks number 3 of 5 healthcare and pharma companies quoted in EUR on Fintols.
The bull case for argenx
What works in favour of argenx, according to its figures as of November 4, 2026:
- argenx grew sales +52.1% in its latest quarter against the same quarter a year earlier, while the median healthcare and pharma company Fintols tracks grew +8.3%.
- argenx keeps 31.7 of every 100 it sells as net profit, against 14.9 for the median healthcare and pharma company: a margin like that leaves money to invest, buy back shares or pay dividends.
- Analysts expect argenx earnings to rise: its P/E on the next 12 months of estimated earnings is 23.3x, below the current 32.8x.
The main risk for argenx
The argenx figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: a key drug losing patent protection or a clinical trial failing, plus government pressure on prices.
Frequently asked questions about argenx
Is it a good time to buy argenx stock?
Fintols does not tell you whether to buy or sell argenx, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, argenx stock trades at €815.00, 12% below its 52-week high (€925.00) and 43% above its low (€568.40). Its P/E is 32.8x against a healthcare and pharma median of 31.3x, and 23.3x on the earnings analysts expect over the next 12 months. With argenx, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does argenx pay a dividend?
No. As of November 4, 2026, argenx does not pay a dividend: what it earns stays in the company to grow, invest or, where it does so, buy back shares. Anyone buying argenx today is counting on the share price rising, not on income.
Is argenx stock expensive?
It depends on what you compare it with. On P/E, argenx trades at 32.8x its last 12 months of earnings: in line with the healthcare and pharma median (31.3x). Including its debt, argenx is valued at 24.1x its EBITDA (EV/EBITDA). A high P/E alone does not make argenx expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are argenx's competitors?
On Fintols we compare argenx with Bayer, Grifols and Laboratorios Rovi, which are also in healthcare and pharma. As of November 4, 2026, Bayer is worth €53.3 billion; Grifols is worth €7.6 billion and trades on a P/E of 15.8; Laboratorios Rovi is worth €3.3 billion and trades on a P/E of 17.6. Each has a side-by-side comparison with argenx below.
argenx competitors
- Bayer (BAYN.DE) analysis · argenx vs Bayer comparison
- Grifols (GRF) analysis · argenx vs Grifols comparison
- Laboratorios Rovi (ROVI) analysis · argenx vs Laboratorios Rovi comparison
To understand argenx better
- DCF and WACC Explained: A Practical Valuation Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like argenx: healthcare and pharma stocks. Open the full ARGX.BR analysis with its valuation and scenarios. Educational content about argenx, not investment advice.