argenx SE (ARGX) annual results, year to 31 December 2025: revenue USD 4,151 million, from the 20-F
argenx SE files a 20-F with the SEC once a year, in US dollars. In the year to 31 December 2025 it reported revenue from the sale of goods of USD 4,151 million, up 89.9% on the year before. Its profit attributable to shareholders was USD 1,292 million, up 55.1%, and diluted earnings per share USD 19.57.
The year to 31 December 2025, against the year before
| Year to | Dec 2024 | Dec 2025 |
|---|---|---|
| Revenue from the sale of goods | 2,186 | 4,151 |
| Cost of sales | 227 | 451 |
| Research and development | 983 | 1,364 |
| Selling, general and administrative | 1,055 | 1,367 |
| Operating profit | -21.7 | 1,054 |
| Finance costs | 2.5 | 4.1 |
| Profit before tax | 85.2 | 1,279 |
| Income tax | -748 | -13.4 |
| Profit for the year | 833 | 1,292 |
| Profit attributable to shareholders | 833 | 1,292 |
| Filing | 20-F | 20-F |
USD million, from the 20-F on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated.
USD per ordinary share, as filed.
Cash flow
| Year to | Dec 2024 | Dec 2025 |
|---|---|---|
| Cash from operations | -82.7 | 685 |
| Purchase of property, plant and equipment | 1.8 | 6.2 |
| Free cash flow | -84.5 | 679 |
| Filing | 20-F | 20-F |
USD million. Free cash flow is cash from operations less the purchase of property, plant and equipment, arithmetic on the two filed lines.
Balance sheet at year end
| Year to | Dec 2024 | Dec 2025 |
|---|---|---|
| Total assets | 6,203 | 8,683 |
| Equity attributable to shareholders | 5,498 | 7,323 |
| Cash and cash equivalents | 1,500 | 3,491 |
| Lease liabilities | 39.1 | 47.2 |
| Trade and other receivables | 904 | 1,647 |
| Inventories | 407 | 474 |
| Filing | 20-F | 20-F |
USD million, at each fiscal year end.
Ratios on the filed lines
| Year to | Dec 2024 | Dec 2025 |
|---|---|---|
| Return on year-end equity | 15.2% | 17.6% |
| Effective tax rate | -878.0% | -1.1% |
| Filing | 20-F | 20-F |
Arithmetic on the filed lines of the same year.
Every annual report here
- Year to 31 December 2025, this page
- Year to 31 December 2024
- Year to 31 December 2023
- Year to 31 December 2022
- Year to 31 December 2021
- Year to 31 December 2020
- Year to 31 December 2019
- Year to 31 December 2018
Source
20-F for the year to 31 December 2025, filed 19 March 2026, accession 0001697862-26-000032: the filing on EDGAR. All of argenx SE's filings: EDGAR company page. The figures are in US dollars as filed.
The same record on your computer
GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.