argenx SE

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $1.5B FCF base (normalized off $1.72B TTM net income, net of ramping R&D reinvestment); growth 28% yrs1-3, 20% yrs4-5, 13% yrs6-8, 8% yrs9-10; 11% discount rate; 4% terminal growth; plus $5.19B net cash; 62.54M shares outstanding.

Reasoning: argenx is a profitable commercial-stage immunology biotech (VYVGART/VYVGART HYTRULO, $5.32B TTM revenue) with multiple ongoing label expansions into new autoimmune indications and a broad follow-on pipeline; growth assumptions reflect continued indication expansion tempered well below the company's trailing hyper-growth rate.