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Financial Statements — GMAB
Balance Sheet
(in billions DKK)| Metric | Q4 2025 | Q2 2025 | Q4 2024 | Q2 2024 | Q4 2023 | Q2 2023 | Q4 2022 | Q2 2022 | Q4 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.72 | 1.30 | 9.86 | 4.33 | 14.87 | 10.87 | 9.89 | 9.82 | 8.96 | 9.48 |
| Inventory | 0.02 | 0.01 | 0.06 | 0.04 | 0.06 | 0.05 | -- | -- | -- | -- |
| Total Current Assets | 2.89 | 3.91 | 27.85 | 21.94 | 33.14 | 29.75 | 28.38 | 25.49 | 22.74 | 20.30 |
| Goodwill | 0.36 | 0.36 | 2.54 | 2.52 | -- | -- | -- | -- | -- | -- |
| Total Non-current Assets | 9.99 | 2.55 | 17.96 | 16.68 | 2.15 | 2.23 | 1.90 | 1.99 | 1.89 | 2.18 |
| Total Assets | 12.87 | 6.46 | 45.81 | 38.62 | 35.29 | 31.98 | 30.28 | 27.48 | 24.63 | 22.48 |
| Total Current Liabilities | 1.43 | 0.63 | 5.31 | 4.36 | 2.48 | 1.99 | 1.82 | 1.94 | 1.57 | 1.35 |
| Total Non-current Liabilities | 5.60 | 0.53 | 3.81 | 3.29 | 1.20 | 1.23 | 1.01 | 1.05 | 0.86 | 0.88 |
| Total Liabilities | 7.03 | 1.16 | 9.11 | 7.65 | 3.68 | 3.22 | 2.84 | 2.99 | 2.43 | 2.23 |
| Retained Earnings | 4.10 | 3.60 | 23.55 | 18.13 | 19.02 | 16.17 | 14.97 | 12.24 | 10.02 | 8.16 |
| Total Stockholder Equity | 5.85 | 5.30 | 36.70 | 30.97 | 31.61 | 28.76 | 27.44 | 24.48 | 22.20 | 20.25 |
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Income Statement
(in billions DKK) (except per-share rows)| Metric | Q2 2025 | Q2 2024 | Q2 2023 | Q2 2022 | Q2 2021 |
|---|---|---|---|---|---|
| Total Revenue | 0.93 | 5.40 | 4.20 | 3.16 | 1.97 |
| Research & Development | 0.36 | 2.50 | 1.85 | 1.28 | 0.92 |
| Selling, General & Admin | 0.14 | 0.89 | 0.85 | 0.63 | 0.26 |
| Total Operating Expenses | 0.56 | 3.76 | 2.70 | 1.92 | 1.19 |
| Operating Income | 0.36 | 1.64 | 1.50 | 1.25 | 0.79 |
| Pretax Income | 0.42 | 2.13 | 1.72 | 2.49 | 0.42 |
| Tax Provision | 0.09 | 0.72 | 0.37 | 0.60 | 0.12 |
| Net Income | 0.34 | 1.41 | 1.36 | 1.89 | 0.31 |
| Basic EPS | 5.44 | 21.85 | 20.80 | 28.87 | 4.68 |
| Diluted EPS | 5.42 | 21.70 | 20.61 | 28.66 | 4.64 |
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Cash Flow Statement
(in billions DKK)| Metric | Q2 2025 | Q2 2024 | Q2 2023 | Q2 2022 | Q2 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | 0.35 | 3.03 | 3.67 | 1.55 | 1.54 |
| Investing Cash Flow | (0.02) | (10.21) | (1.85) | (1.24) | 0.97 |
| Financing Cash Flow | (0.42) | (3.65) | (0.60) | (0.28) | (0.46) |
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