argenx SE American Depositary Shares (ARGX)

FairStock Score: 67/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach argenx as a commercial-stage biotech, not a speculative pipeline story. It sells VYVGART and VYVGART HYTRULO for autoimmune diseases, and in the latest reported quarter, fiscal Q2 2026, revenue was $1.5 billion with net income of $472.0 million, a 31.16% net margin. That is real profitability, not hope. The balance sheet looks conservative: debt-to-equity is only 0.01, and Altman Z-Score is 19.79. Returns are good, with ROE of 23.64% and ROCE of 11.63%, and beta is -0.03. But quality is not the same as price. At the 2026-10-13 close of $802.64, FairStock's P/E is 30.61, P/B is 149.19, EV/EBITDA is 26.61, and PEG is 0.33. The Graham Number is $281.78, leaving a margin of safety of -184.85%, meaning the price is far above a Graham-style asset-and-earnings value. The Piotroski F-Score is only 4/9, and the Lynch category is 'none' because the data show only 0 years of filed results and require 3. Growth is impressive, but biotech competition, patent life, reimbursement, and pipeline execution are hard to predict. I would call this a fine business with a narrow-to-moderate moat, but a demanding price. I want a margin of safety; here I see the opposite.

In plain English: argenx is a drug company that sells VYVGART and VYVGART HYTRULO for autoimmune diseases. It is growing quickly and is profitable, with strong recent sales and net income. But the stock price is very high compared with the company's reported profits and accounting value, and much higher than a conservative estimate of value, so it looks expensive rather than cheap.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer