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Side-by-side financial comparison of ARGENX SE (ARGX) and RENAISSANCERE HOLDINGS LTD (RNR). Click either name above to swap in a different company.
ARGENX SE is the larger business by last-quarter revenue ($2.5B vs $2.2B, roughly 1.1× RENAISSANCERE HOLDINGS LTD). ARGENX SE runs the higher net margin — 35.5% vs 23.5%, a 12.0% gap on every dollar of revenue. On growth, ARGENX SE posted the faster year-over-year revenue change (83.2% vs -36.8%).
AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. They have produced drugs to treat a wide range of medical issues.
RenaissanceRe Holdings Ltd is a Bermudian provider of reinsurance, insurance and other related business services. The company operates in reinsurance, insurance and ventures.
ARGX vs RNR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.5B | $2.2B |
| Net Profit | $877.2M | $515.8M |
| Gross Margin | 89.5% | — |
| Operating Margin | 28.9% | — |
| Net Margin | 35.5% | 23.5% |
| Revenue YoY | 83.2% | -36.8% |
| Net Profit YoY | 1.3% | 72.6% |
| EPS (diluted) | $13.25 | $6.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $2.2B | ||
| Q4 25 | $2.5B | $3.0B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | $1.8B | $3.2B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | $1.4B | $2.3B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | $901.9M | $2.8B |
| Q1 26 | — | $515.8M | ||
| Q4 25 | $877.2M | $760.5M | ||
| Q3 25 | — | $916.5M | ||
| Q2 25 | $414.8M | $835.4M | ||
| Q1 25 | — | $170.0M | ||
| Q4 24 | $865.6M | $-189.7M | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $-32.5M | $503.9M |
| Q1 26 | — | — | ||
| Q4 25 | 89.5% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 89.2% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 90.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 89.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 28.9% | 42.5% | ||
| Q3 25 | — | 46.3% | ||
| Q2 25 | 19.2% | 41.8% | ||
| Q1 25 | — | -2.0% | ||
| Q4 24 | 8.7% | -3.6% | ||
| Q3 24 | — | 43.7% | ||
| Q2 24 | -15.4% | 25.0% |
| Q1 26 | — | 23.5% | ||
| Q4 25 | 35.5% | 25.6% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | 23.4% | 26.1% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | 64.1% | -8.3% | ||
| Q3 24 | — | 29.8% | ||
| Q2 24 | -3.6% | 17.8% |
| Q1 26 | — | $6.57 | ||
| Q4 25 | $13.25 | $16.16 | ||
| Q3 25 | — | $19.40 | ||
| Q2 25 | $6.32 | $17.20 | ||
| Q1 25 | — | $3.27 | ||
| Q4 24 | $13.33 | $-3.76 | ||
| Q3 24 | — | $22.62 | ||
| Q2 24 | $-0.55 | $9.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.5B | $1.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.3B | $4.3B |
| Total Assets | $8.7B | $53.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.6B | ||
| Q4 25 | $3.5B | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | $2.1B | $1.4B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | $1.4B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | $11.0M | $2.0B |
| Q1 26 | — | $4.3B | ||
| Q4 25 | $7.3B | $11.6B | ||
| Q3 25 | — | $11.5B | ||
| Q2 25 | $6.1B | $10.8B | ||
| Q1 25 | — | $10.3B | ||
| Q4 24 | $5.5B | $10.6B | ||
| Q3 24 | — | $11.2B | ||
| Q2 24 | $4.3B | $10.2B |
| Q1 26 | — | $53.7B | ||
| Q4 25 | $8.7B | $53.8B | ||
| Q3 25 | — | $54.5B | ||
| Q2 25 | $7.2B | $54.7B | ||
| Q1 25 | — | $53.6B | ||
| Q4 24 | $6.2B | $50.7B | ||
| Q3 24 | — | $52.8B | ||
| Q2 24 | $4.8B | $51.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.21× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | 0.00× | 0.19× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $323.3M | — |
| Free Cash FlowOCF − Capex | $322.4M | — |
| FCF MarginFCF / Revenue | 13.0% | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | 0.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $594.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $323.3M | $483.0M | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | $361.8M | $1.5B | ||
| Q1 25 | — | $157.8M | ||
| Q4 24 | $41.9M | $778.9M | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | $-124.7M | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | $322.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $356.6M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $40.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-125.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | 13.0% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 20.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -13.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.37× | 0.64× | ||
| Q3 25 | — | 1.73× | ||
| Q2 25 | 0.87× | 1.76× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | 0.05× | — | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | — | 2.41× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
