ARGX vs MDGL Stock Comparison

Argenx Se and Madrigal Pharmaceuticals Prices as of Oct 28, 2026 Peers: Industry group
ARGX Argenx Se
$891.76 -8.3% 1M +6.6% 1Y
Market cap
$55.33B
P/E
29.5x
Revenue (TTM)
$5.82B
Div. yield
–
Biotechnology Healthcare
5 wins

Head to Head

7 decided of 12

Argenx Se leads on 5 of the 12 questions below (Argenx Se 5, Madrigal Pharmaceuticals 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionARGXMDGLLeader
Larger companyMarket capitalisation $55.33B $12.99B ARGX
Cheaper on earningsLower P/E, profitable companies only 29.5x -39.9x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 29.1x — –
Faster revenue growthRevenue growth, trailing twelve months +61.5% +149.0% MDGL
More profitableNet margin, trailing twelve months 32.3% -25.3% ARGX
Better return on capitalReturn on invested capital — — –
Less leveragedLower net debt / EBITDA — 1.6x –
Higher dividend yieldTrailing dividend yield 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +6.6% +0.4% ARGX
Better 5-year returnAnnualised price return, 5 years +24.2%/yr +40.9%/yr MDGL
Less volatileAnnualised volatility, 1 year 36.9% 43.5% ARGX
Higher overall scoreMean of the five percentile scores vs peers 92/100 66/100 ARGX

Percentile Scorecard

ARGXMDGL

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisARGXMDGL
Valuation 84 #101 of 625 74 #164 of 625
Growth 94 #35 of 602 69 #190 of 602
Profitability 98 #11 of 549 74 #143 of 549
Financial Health – 41 #388 of 654
Shareholder Returns – 75 #93 of 367
Overall 92 66
  • ARGX ranked among 672 companies in Pharmaceuticals and Biotechnology
  • MDGL ranked among 672 companies in Pharmaceuticals and Biotechnology

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodARGXMDGLSPY
1 month -8.3%-16.6% +0.9%
3 months +1.0%-21.2% +5.9%
6 months +14.9%-16.9% +8.5%
Year to date +6.0%-26.0% +13.3%
1 year +6.6%+0.4% +12.4%
3 years +93.9%+258.0% +88.1%
3 years, per year +24.7%+53.0% +23.5%
5 years +195.3%+454.3% +68.2%
5 years, per year +24.2%+40.9% +11.0%
10 years —+2,459.4% +263.4%
10 years, per year —+38.3% +13.8%

Risk

MeasureARGXMDGLSPY
Volatility, 1Y 36.9%43.5% 12.7%
Downside volatility, 1Y 34.6%41.5% 12.7%
Beta vs S&P 500, 1Y 0.390.30 1.00
Return / volatility, 1Y 0.180.01 0.98
Max drawdown, 5Y -38.2%-61.4% -25.4%
From 52-week high -15.8%-28.5% -0.9%
52-week high $1,058.90$602.83 $779.14
52-week low $663.93$412.35 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleARGXMDGL
P/E now vs peer median 29.1xmedian 17.4x -38.6xmedian 17.4x
P/S now vs peer median 9.5xmedian 9.1x 9.8xmedian 9.1x
EV/EBITDA now vs peer median —median 17.1x -37.8xmedian 17.1x
P/FCF now vs peer median —median 19.0x -60.9xmedian 19.0x
P/B now vs peer median —median 2.2x 24.0xmedian 2.2x
PEG now vs peer median 0.28median 0.34 -2.62median 0.34

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsARGXMDGL
Revenue $5.82B $1.28B
Gross profit $5.24B –
Operating income $1.74B -$322.62M
Net income $1.88B -$325.11M
Free cash flow – -$206.29M
R&D $1.80B $490.14M
EPS (diluted) $28.43 $-11.15
Cash & equivalents – $292.73M
Total debt – $340.79M
Shares (diluted) 66.03M 29.15M
Enterprise value $55.33B $9.24B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricARGXMDGL
P/E 29.1x -38.6x
P/FCF – -60.9x
P/Operating cash flow – -63.5x
P/S 9.5x 9.8x
P/B – 24.0x
P/Tangible book – 24.3x
EV/EBITDA – -37.8x
EV/EBIT 31.7x -37.4x
EV/Revenue 9.5x 9.4x
EV/FCF – -58.5x
EV/Operating cash flow – -61.0x
PEG (3Y EPS CAGR) 0.28 -2.62

Growth

14 metrics
MetricARGXMDGL
Revenue growth (1Y) 61.5% 149.0%
Revenue CAGR (3Y) 80.5% –
Gross profit growth (1Y) 62.2% –
Gross profit CAGR (3Y) 80.0% –
Operating income growth (1Y) 120.6% -4.1%
Operating income CAGR (3Y) 85.1% 0.8%
Net income growth (1Y) 22.5% -15.3%
Net income CAGR (3Y) 115.5% 0.5%
EPS growth (1Y) 20.9% 12.1%
EPS CAGR (3Y) 104.8% 14.8%
Operating cash flow growth (1Y) – 35.7%
Operating cash flow CAGR (3Y) – 10.6%
Free cash flow growth (1Y) – 33.1%
Free cash flow CAGR (3Y) – 9.4%

Profitability

14 metrics
MetricARGXMDGL
Gross margin 90.0% –
EBITDA margin – -24.9%
Operating margin 29.9% -25.1%
Pretax margin 32.6% -24.8%
Net margin 32.3% -25.3%
FCF margin – -16.1%
Operating cash flow margin – -15.4%
Return on equity – -59.8%
Return on assets – -25.8%
Return on invested capital – –
Return on capital employed – -37.4%
Asset turnover – 1.0x
Cash conversion (OCF / net income) – 0.6x
Stock comp / revenue – 9.5%

Financial Health

11 metrics
MetricARGXMDGL
Debt / assets – 27.4%
Debt / equity – 0.7x
Net debt / EBITDA – 1.6x
Debt / FCF – -1.7x
Liabilities / assets – 57.9%
Equity / assets – 42.1%
Interest coverage 10,120x -10.2x
Current ratio – 3.2x
Quick ratio – 2.8x
Cash ratio – 2.2x
Altman Z-score – 8.90

Shareholder Returns

7 metrics
MetricARGXMDGL
Dividend yield – –
Net buyback yield – -0.3%
Shareholder yield – -0.3%
Payout ratio (earnings) – –
Payout ratio (FCF) – –
Dividend growth (1Y) – –
Dividend CAGR (3Y) – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusARGXMDGL
Forward P/E 29.1xFY2026 –
EPS, next fiscal year $30.63FY2026 $-6.25FY2026
EPS growth, next FY +56.5%FY2026 –
EPS growth, the year after +26.9% –
Revenue, next fiscal year $6.08BFY2026 $1.46BFY2026
Revenue growth, next FY +43.1%FY2026 +52.7%FY2026
Revenue growth, the year after +22.9% +36.3%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersARGXMDGL
Held by institutions 46.1% 80.9%
Institutions holding 504 412
Change in shares held, QoQ -2.0% -0.6%
Institutions buying 264 225
Institutions selling 160 128
Buyers to sellers 1.65 1.76

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ARGXMDGL
ARGX 1.00 0.29
MDGL 0.29 1.00

Add a Peer

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Frequently Asked Questions

Which is bigger, ARGX and MDGL?

Argenx Se (ARGX) is the largest by market capitalisation: Argenx Se (ARGX) $55.33B, Madrigal Pharmaceuticals (MDGL) $12.99B.

Which company is growing faster?

Madrigal Pharmaceuticals (MDGL) grew revenue fastest over the trailing twelve months: Argenx Se (ARGX) +61.5%, Madrigal Pharmaceuticals (MDGL) +149.0%.

Which company is more profitable?

Argenx Se (ARGX) has the highest net margin (Argenx Se (ARGX) 32.3%, Madrigal Pharmaceuticals (MDGL) -25.3%).

Which stock has performed better?

Over the past year Argenx Se (ARGX) returned the most: Argenx Se (ARGX) +6.6%, Madrigal Pharmaceuticals (MDGL) +0.4%. Over five years, Madrigal Pharmaceuticals (MDGL) compounded fastest (Argenx Se (ARGX) +24.2%/yr, Madrigal Pharmaceuticals (MDGL) +40.9%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Argenx Se (ARGX) has been the steadiest (Argenx Se (ARGX) 36.9%, Madrigal Pharmaceuticals (MDGL) 43.5%). Volatility measures how widely the price swings, not the risk of the business.

Do ARGX and MDGL move together?

Their daily returns over the past year have a correlation of 0.29, a weak relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, ARGX and MDGL?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Argenx Se (ARGX) leads on 5. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.