Discounted Cash Flow

Genmab A/S ADR

GMAB · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016
2017 $2.4b $1.1b $1.6b 45.0% $18.14
2018 $3.0b (27.9%) $1.6b (51.5%) $1.0b (-36.1%) 53.3% (18.4%) $24.03 (32.5%)
2019 $5.4b (77.4%) $2.9b (77.4%) $1.3b (30.6%) 53.3% (-0.0%) $34.40 (43.2%)
2020 $10.1b (88.4%) $5.9b (106.5%) 58.4% (9.6%) $73.00 (112.2%)
2021 $8.5b (-16.1%) $4.0b (-32.5%) 47.0% (-19.6%) $46.00 (-37.0%)
2022 $14.6b (72.1%) $7.0b (76.6%) $517.4m 48.2% (2.6%) $84.45 (83.6%)
2023 $16.5b (12.9%) $5.6b (-19.9%) $1.1b (107.0%) 34.2% (-29.0%) $66.64 (-21.1%)
2024 $21.5b (30.7%) $9.2b (62.6%) $1.1b (1.0%) 42.6% (24.4%) $122.21 (83.4%)
2025 $3.7b (-82.7%) $1.2b (-86.9%) $1.1b (4.5%) 32.4% (-24.0%) $15.50 (-87.3%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model