argenx SEARGX -2.57%78 PE Ratio without NRI is 41.11 as of Jul. 01, 2026, which is 9% above its 10-year median of 37.59. GuruFocus rates ARGX with a GF Score™ of 78/100 and a GF Value™ of $1,395.78 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 267 Biotechnology companies, argenx SE ranks worse than 71.54% on this metric.
The PE Ratio without NRI, or P/E Ratio without non-recurring items, is a financial ratio used to compare a company's market price to its EPS without NRI. As of today (2026-07-01), argenx SE's share price is $903.91.
argenx SE's EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 was $21.99. Therefore, argenx SE's PE Ratio without NRI for today is 41.11.
During the past 13 years, argenx SE's highest PE Ratio without NRI was 252.35. The lowest was 26.59. And the median was 37.59.
argenx SE's EPS without NRI for the
three
months ended in Mar. 2026 was $5.66.
Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 was $21.99.
argenx SE stock PE Ratio (=42.01) is close to 1-year high of 42.77.
During the past years, argenx SE's highestPE Ratio (TTM) was 306.33. The lowest was 25.64. And the median was 36.54.
argenx SE's
EPS (Diluted) for the
three
months ended in Mar. 2026 was $5.52.
Its EPS (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was $22.50.
argenx SE's EPS (Basic) for the
three
months ended in Mar. 2026 was $5.90.
Its EPS (Basic) for the trailing twelve months (TTM) ended in Mar. 2026 was $24.20.
argenx SE (NAS:ARGX) PE Ratio without NRI Explanation
The PE Ratio can be viewed as the number of years it takes for the company to earn back the price you pay for the stock. For example, if a company earns $2 a share per year, and the stock is traded at $30, the PE Ratio is 15. Therefore it takes 15 years for the company to earn back the $30 you paid for its stock, assuming the earnings stays constant over the next 15 years.
In real business, earnings never stay constant. If a company can grow its earnings, it takes fewer years for the company to earn back the price you pay for the stock. If a company's earnings decline it takes more years. As a shareholder, you want the company to earn back the price you pay as soon as possible. Therefore, lower P/E stocks are more attractive than higher P/E stocks so long as the PE Ratio is positive. Also for stocks with the same PE Ratio, the one with faster growth business is more attractive.
If a company loses money, the PE Ratio becomes meaningless.
To compare stocks with different growth rates, Peter Lynch invented a ratio called PEG Ratio. PEG Ratio is defined as the PE Ratio divided by the growth ratio. He thinks a company with a PE Ratio equal to its growth rate is fairly valued. Still he said he would rather buy a company growing 20% a year with a PE Ratio of 20, instead of a company growing 10% a year with a PE Ratio of 10.
Because the PE Ratio measures how long it takes to earn back the price you pay, the PE Ratio can be applied to the stocks across different industries. That is why it is the one of the most important and widely used indicators for the valuation of stocks.
Investors need to be aware that the PE Ratio can be misleading a lot of times, especially when the underlying business is cyclical and unpredictable. As Peter Lynch pointed out, cyclical businesses have higher profit margins at the peaks of the business cycles. Their earnings are high and PE Ratio s are artificially low. It is usually a bad idea to buy a cyclical business when the PE Ratio is low. A better ratio to identify the time to buy a cyclical businesses is the PS Ratio.
argenx SE PE Ratio without NRI Related Terms
argenx SE PE Ratio without NRI Historical Data
* Premium members only.
The historical data trend for argenx SE's PE Ratio without NRI can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ARGX vs VRTX, REGN, ALNY: PE Ratio without NRI Comparison
For the Biotechnology subindustry, argenx SE's PE Ratio without NRI, along with its competitors' market caps and PE Ratio without NRI data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
argenx SE PE Ratio without NRI vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, argenx SE's PE Ratio without NRI distribution charts can be found below:
* The bar in red indicates where argenx SE's PE Ratio without NRI falls into.
The PE Ratio without NRI, or P/E Ratio without non-recurring items, is a financial ratio used to compare a company's market price to its EPS without NRI. Regular PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.
argenx SE's PE Ratio without NRI for today is calculated as
argenx SE's Share Price of today is $903.91.
argenx SE's EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $21.99.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
There are at least three kinds of PE Ratios used by different investors. They are Trailing Twelve Month PE Ratio, Forward PE Ratio, or PE Ratio without NRI. A new PE Ratio based on inflation-adjusted normalized PE Ratio is called Shiller PE Ratio, after Yale professor Robert Shiller.
In the case of PE Ratio without NRI, the reported earnings less the non-recurring items are used.
In the calculation of PE Ratio (TTM), the earnings per share used are the earnings per share over the past 12 months.
For Forward PE Ratio, the earnings are the expected earnings for the next twelve months.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. Since it looks at the average over the last 10 years, Shiller PE Ratio is also called PE10.
argenx SE (ARGX) has a PE Ratio without NRI of 41.11 as of Jul. 01, 2026. P/E without nonrecurring items is the ratio of share price to a company's earnings less one-time charges. View historical data on argenx SE and its competitors. This is near median its historical median of 37.59. Over the past decade, argenx SE's PE Ratio without NRI has ranged from 26.59 to 252.35. According to the industry distribution chart, argenx SE ranks #191 out of 267 companies in the Biotechnology industry, placing it in the top 71.5%.
Is argenx SE's PE Ratio without NRI too high?
argenx SE's current PE Ratio without NRI of 41.11 is near median its 10-year median of 37.59. Over the past 10 years, this metric has ranged from a low of 26.59 to a high of 252.35. The Biotechnology industry median PE Ratio without NRI is 25.54. argenx SE's value of 41.11 is 61% above this industry median. Based on the distribution chart, argenx SE ranks #191 out of 267 companies in the Biotechnology industry, which is below the industry midpoint. Overall, argenx SE has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does argenx SE's PE Ratio without NRI compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, argenx SE ranks #191 out of 267 companies for PE Ratio without NRI. This places argenx SE in the lower half of its industry. The industry median PE Ratio without NRI is 25.54. argenx SE's value of 41.11 is 61% above this benchmark. Historically, argenx SE's own PE Ratio without NRI has ranged from 26.59 to 252.35 over the past decade. While the company's 10-year median is 37.59 vs. the industry median of 25.54, argenx SE has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PE Ratio without NRI for a Biotechnology company?
The median PE Ratio without NRI among Biotechnology companies is 25.54, based on 267 companies in the industry. Companies in the top quartile (top 25%) have a PE Ratio without NRI significantly above this median, while those in the bottom quartile fall well below. However, PE Ratio without NRI should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. argenx SE's current PE Ratio without NRI of 41.11 is 61% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PE Ratio without NRI mean?
A high PE Ratio without NRI can signal that a stock is expensive relative to its fundamentals. P/E without nonrecurring items is the ratio of share price to a company's earnings less one-time charges. View historical data on argenx SE and its competitors. For the Biotechnology industry, the median PE Ratio without NRI is 25.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. argenx SE's current PE Ratio without NRI is 41.11, which is near median its own 10-year median of 37.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is argenx SE stock overvalued right now?
Based on GuruFocus' analysis, argenx SE (ARGX) is currently considered Significantly Undervalued. The stock's GF Value™ is $1,395.78, compared to a current price of $903.91 — trading 35.2% below its estimated fair value. The current PE Ratio without NRI is 41.11, which is near median its 10-year median of 37.59 and 61% above the Biotechnology industry median of 25.54. argenx SE's overall GF Score™ is 78/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PE Ratio without NRI calculated?
PE Ratio without NRI is calculated from a company's financial statements. For argenx SE (ARGX), the current PE Ratio without NRI is 41.11 as of Jul. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is argenx SE (ARGX) Overvalued in 2026?
Based on GuruFocus' analysis, argenx SE stock appears to be undervalued.
The current stock price of $903.91 is trading 35.2% below its estimated GF Value™ of $1,395.78.
GuruFocus considers argenx SE to be Significantly Undervalued.
Key valuation signals for ARGX:
PE Ratio without NRI: 41.11 (near median its 10-year median of 37.59)
GF Value™: $1,395.78 vs. price of $903.91 (35.2% below fair value)
Industry Position: 61% above the Biotechnology median (#191 of 267)
No single metric tells the full story. See the ARGX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Argenx is a Dutch biopharmaceutical company focused on developing antibody-based therapies for rare autoimmune diseases. The company's lead product, Vyvgart (efgartigimod), was approved by the FDA in December 2021 for the treatment of generalized myasthenia gravis (gMG). In 2022, Argenx also received FDA approval for Vyvgart Hytrulo, a subcutaneous formulation of Vyvgart, offering a more convenient option compared with Vyvgart's intravenous administration. In 2024, the FDA approved Vyvgart Hytrulo for Chronic Inflammatory Demyelinating Polyneuropathy, a rare immune-mediated neuromuscular disorder of the peripheral nervous system. Argenx is focused on innovation and developing its pipeline for treatments such as primary immune thrombocytopenia, thyroid eye disease, and Sjogren's Disease.
78GF Score
Get the complete analysis for ARGX
PE Ratio without NRI is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ARGX has been successfully added to your 
