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argenx SE (ARGX)

Nasdaq: ARGX · Biological Products, (No Diagnostic Substances) · filing with the SEC since 2017
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Grade6.3
◀ Past 5.5● Present 6.3▶ Future 7.1
2 est.
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The grade of argenx SE

Nine metrics read from its own filings, by tense
Headline grade
6.3/10
◀ Past5.530% of the headline
● Present6.340% of the headline
▶ Future7.130% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.5/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
8.0/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 33% of this tense · 80th percentile among 159 sector filers · read for itself

From the record

argenx SE's filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
4.0/10

What has it actually done, year after year?

+10.6% a year over 6 filed years; profitable in 0 of 6.

weight 45% of this tense · 40th percentile among 102 sector filers · read for its customers

From the record

argenx SE's 6 filed years say what it did: revenue went from $21 million in fiscal 2018 to $36 million in fiscal 2023, up 10.6% a year; it rose in 3 of 5 years; the deepest fall was 98% from fiscal 2021 to fiscal 2022; net income was positive in 0 of 6 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span10.6%bottom 45% of its family
  • the share of years revenue rosetop 44% of its family
  • the share of filed years with a profitbottom 31% of its family
  • the deepest fall from a revenue peak98.0%bottom 26% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
5.1/10

How has it treated the people who own it?

Share count grew 4.1% a year. 0% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 51st percentile among 21 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, argenx SE's diluted share count grew about 4.1% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 22% of its family
  • cash returned against operating cash flowbottom 24% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.3/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
8.5/10

Is it financially healthy right now?

ROE 18%: 18¢ of profit per shareholder dollar. Leverage 16%: owes 16¢ per asset dollar.

weight 45% of this tense · 85th percentile among 147 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, argenx SE earned about 18 cents of profit for every dollar of shareholders' money. Leverage: it owed about 16 cents per dollar of assets, and net share issuance: its share count grew 2.4% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 19% of its family
  • return on equitytop 8% of its family
  • the share count against the year beforetop 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
4.0/10

How strong is its position in its industry?

bottom 40% of 102 in its family; net margin -830.4%.

weight 33% of this tense · 40th percentile among 102 sector filers · read for its customers

From the record

argenx SE's standing among 102 graded names in its industry family: revenue of $36 million in fiscal 2023 ranks in the top 48% by size; a net margin of -830.4% ranks in the bottom 36%; revenue growth of -4.8% a year over the last 3 filed years ranks in the bottom 34% (its annual reports).

What it rests on

  • revenue against the family$35.5Mtop 48% of its family
  • net margin-830.4%bottom 36% of its family
  • three-year revenue growth-4.8%bottom 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 130 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 130 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned
family median, 130 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: argenx SE's leadership is put at 5.0 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 130 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

7.1/1030% of the headline grade · 2 of 3 filed, 1 estimated

Room to expand

SI estimate
6.0/10

How much room does it have to grow?

SI estimate 6.0/10, confidence 35 of 100 (one part).

weight 45% of this tense · 60th percentile among 152 sector filers · read for itself

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, cash less debt against assets, which ranks in the top 40% of 152 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
What the record cannot read
The record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
How it was reasoned
one part: cash less debt against assets, the one part on file, ranked among 152 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: argenx SE's room to expand is put at 6.0 of 10 with a confidence of 35 of 100, because read from one part only, cash less debt against assets, which ranks in the top 40% of 152 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue. A filing that carries the missing parts replaces this estimate with the filed reading.

Growth drivers

as filed
7.7/10

What could actually drive growth from here?

top 23% of 100 in its family for growth drivers.

weight 33% of this tense · 77th percentile among 100 sector filers · read for its customers

From the record

argenx SE's growth drivers, from the filed years to fiscal 2023: revenue grew -4.8% a year over the last three filed years against 10.6% over all 6, slowing (bottom 36% of its family); the newest year grew 254.7% (top 12%); research spending grew 27.2% a year (top 11%); capital spending grew 94.5% a year (top 5%) (its annual reports). argenx SE tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-15.4 points a yearbottom 36% of its family
  • the newest year's revenue growth254.7%top 12% of its family
  • three-year growth of research spending27.2%top 11% of its family
  • three-year growth of capital spending94.5%top 5% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
8.4/10

Did its newest year beat what its own record pointed to?

top 16% of 72 in its family for expectations against reality.

weight 22% of this tense · 84th percentile among 72 sector filers · read for its shareholders

From the record

argenx SE's newest year against its own record: revenue of $36 million in fiscal 2023 came in 619.2% above the $5 million its prior three years' pace pointed to (top 6% of its family); net income of $295 million against a prior three-year average of $575 million (top 29%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 12%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace619.2%top 6% of its family
  • net income against the prior three years' average+49%top 29% of its family
  • net margin against its prior averageup more than 100 pointstop 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton ARGX · research, not advice