Genmab Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Jan '24 Jan 1, 2024	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	963	1,133	631	783.33	452.29
Depreciation & Amortization	57	52	43	52.01	29.67
Other Amortization	14	8	-	-	-
Asset Writedown & Restructuring Costs	32	17	-	-	-
Loss (Gain) From Sale of Investments	-65	-136	21	94.54	105.39
Stock-Based Compensation	128	105	85	63.07	47.42
Other Operating Activities	-168	56	93	-166.52	-186.15
Change in Accounts Receivable	-166	-230	116	-305.03	-154.33
Change in Inventory	-9	-1	-8	-	-
Change in Accounts Payable	400	122	90	40.66	46.5
Operating Cash Flow	1,186	1,126	1,071	562.07	340.79
Operating Cash Flow Growth	5.33%	5.13%	90.55%	64.93%	-67.77%
Capital Expenditures	-37	-27	-53	-45.55	-38.55
Cash Acquisitions	-7,215	-1,783	-	-	-
Sale (Purchase) of Intangibles	-18	-17	-1	-	-
Investment in Securities	1,627	380	-131	-351.15	-108.45
Investing Cash Flow	-5,643	-1,447	-185	-396.7	-146.99
Long-Term Debt Issued	5,500	-	-	-	-
Long-Term Debt Repaid	-13	-9	-14	-10.49	-8.87
Net Debt Issued (Repaid)	5,487	-9	-14	-10.49	-8.87
Issuance of Common Stock	23	19	21	40.23	20.65
Repurchase of Common Stock	-448	-576	-96	-143.1	-76.02
Other Financing Activities	-273	-	-	-	-
Financing Cash Flow	4,789	-566	-89	-113.36	-64.24
Foreign Exchange Rate Adjustments	3	63	-12	82.47	130.01
Net Cash Flow	335	-824	785	134.48	259.57
Free Cash Flow	1,149	1,099	1,018	516.52	302.24
Free Cash Flow Growth	4.55%	7.96%	97.09%	70.90%	-69.98%
Free Cash Flow Margin	30.89%	35.21%	42.59%	24.79%	23.48%
Free Cash Flow Per Share	18.33	17.00	15.45	7.83	4.58
Cash Interest Paid	10	5	3	2.3	1.84
Cash Income Tax Paid	460	50	155	227.44	113.49
Levered Free Cash Flow	1,068	915.13	777.92	305.1	259.8
Unlevered Free Cash Flow	1,106	926.38	784.17	308.6	261.04
Change in Working Capital	225	-109	198	-264.37	-107.83

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.