ARGX FINANCIAL STATEMENTS

argenx NV ADR — balance sheet, income statement and cash flow trends

ARGXargenx NV ADR

🇺🇸 USA · US · Healthcare · Biotechnology

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue6.6 B $+82.1%

Gross Profit5.9 B $+153.0%

Operating Income1.8 B $+1,244.4%

EBITDA961.4 M $+142.0%

Net Income2 B $+83.0%

Peer Comparison· Biotechnology

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ARGX	82.1%	89.6%	14.6%	30.4%
Industry median	4.1%	84.0%	-105.8%	-125.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Key Figures

YoY change

Total Assets——

Total Liabilities——

Total Equity——

Cash & ST Investments——

Total Debt——

Net Debt——

Peer Comparison· Biotechnology

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ARGX	—	—	—	—
Industry median	5.90	10.9%	1.15	70.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow845.6 M $—

Capital Expenditures6.1 M $+241.4%

Free Cash Flow839.5 M $—

Dividends Paid——

Peer Comparison· Biotechnology

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ARGX	12.9%	12.8%	0.1%	42.2%
Industry median	-88.0%	-90.9%	1.9%	81.5%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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