$Genmab (GMAB.US)$In the past 5 years, revenue has been grow...
$Genmab(GMAB.US$In the past 5 years, revenue has been growing rapidly for the first four years, falling 16% in 2021, from 10.1 billion to 8.5 billion dollars. Operating profit declined from a high of 6.3 billion in 2020 to 3 billion. The average growth rate over the past 5 years was 23%, which is still not low. Net profit declined 37% from $4.76 billion to $3 billion, with an average growth rate of 20.5% over the past five years.
In the first three quarters of 2022, revenue increased 60% to 9.4 billion yuan, operating profit increased 67% to 3.7 billion yuan, interest income reached 170 million yuan, revenue from the sale of securities reached 2.5 billion, and net profit increased 1.1 times to 4.9 billion yuan, which is very impressive.
The balance ratio has been very low over the past 5 years, growing from 5% to 10%, and increasing to 13% in Q3 2022. The main increase in debt is in accounts payable, lease debt, and some other interest-free debt accounts, and the balance sheet is very healthy.
Over the past five years, net cash flow from operations has been higher than net investment, and there is a certain amount of shareholder surplus.
Overall, the company's profitability is very strong. Currently, the price-earnings ratio is 58, and the price-earnings ratio is TTM32. If operating profit reaches 5 billion, the net profit is calculated at 4 billion Danish kroner (US$580 million), which corresponds to a price-earnings ratio of 45.6. Although it is very cheap compared to the growth rate in the first three quarters of 2022, the valuation is not low compared to the 5-year average growth rate, and the price-earnings ratio is not very attractive for the time being.
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