Argenx SE balance sheet

At the end of fiscal 2025, Argenx SE had total assets of $8.68bn, total liabilities of $1.36bn and shareholders' equity of $7.32bn. It held $3.49bn in cash against $0 of debt: net cash of $3.49bn.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Argenx SE: balance sheet, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	39	95	229	322	372	1,217	1,335	801	2,049	1,500	3,491
Receivables	—	—	—	—	32	7	38	276	497	904	1,647
Inventory	—	—	—	—	—	25	109	228	311	407	474
Total current assets	—	—	—	—	1,543	2,057	2,543	2,774	4,124	4,883	6,899
Total assets	—	—	—	—	1,610	2,279	2,850	3,134	4,542	6,203	8,683
Total current liabilities	—	—	—	—	180	328	301	302	423	670	1,320
Total debt	—	—	—	0	0	0	0	0	7	—	0
Total liabilities	—	—	—	—	430	605	316	321	445	704	1,360
Shareholders' equity	—	—	—	616	1,180	1,674	2,534	2,814	4,098	5,498	7,323
Net debt (negative = net cash)	−39	−95	−229	−322	−372	−1,217	−1,335	−801	−2,042	−1,500	−3,491
Shares outstanding	16m	20m	—	36m	43m	48m	52m	55m	59m	61m	62m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Argenx SE's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Argenx SE.