Loading…
Danish biotech using its TransCon sustained-release technology for growth-hormone and endocrine-disease drugs.
Danish biotech using its TransCon sustained-release technology for growth-hormone and endocrine-disease drugs.
Sells its medicines itself in the US and Europe to specialist doctors, and relies on partners such as Visen in China, paid through upfront, milestone and royalty payments. Its TransCon technology attaches a drug to a carrier that releases it slowly, giving long-acting dosing, and the same engine is used to build new products.
Moat: narrow (IP / patents, process know-how). Proprietary TransCon prodrug technology gives longer-acting dosing than older daily therapies.
Headquarters: Copenhagen, Denmark · Founded: 2006
Size Ascendis Pharma A/S (ASND) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $16.0B, the 572nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $256.82 on 6 Nov 2026.
Performance Over six months the shares gained 7.6%, against +3.8% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 128.4% over the last twelve months (peer median +18.9%); the operating margin is 10.3% (peer median 23.1%).
Valuation It trades at 40.8× forward earnings against a peer median of 25.5× (6th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 36% a year for seven years (Req g). Recent delivered growth is +152%, so the hurdle is -116 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.3 points above its cost of capital (6.8% WACC).
Short interest Short interest is 4.8% of the free float (15 Oct 2026).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.22B | $813M | $393M | $288M | $53.8M |
| Revenue growth | — | +107% | +36% | +436% | — |
| Gross profit | $1.10B | $691M | $333M | $225M | $25.7M |
| EBITDA | $147M | -$134M | -$282M | -$472M | -$572M |
| Net income | $867M | -$257M | -$409M | -$520M | -$613M |
| Free cash flow | $389M | $51.3M | -$333M | -$508M | -$536M |
| Capital expenditure | $16.9M | $9.58M | $1.54M | $2.64M | $15.2M |
| Total debt | $515M | $1.02B | $887M | $712M | $543M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ascendis Pharma A/S ASND | $16.0B | +8% | +128% | 10% | 40.8× | 36.4% |
| Novo Nordisk A/S NOVO-B.CO | $190B | -7% | +6% | 48% | 11.9× | 0.1% |
| Pfizer PFE | $168B | +14% | +1% | 26% | 10.4× | -4.3% |
| Ipsen IPN.PA | $14.7B | -4% | +14% | 30% | 10.9× | -7.3% |
| BioMarin Pharmaceutical BMRN | $10.9B | +4% | +20% | 19% | 10.3× | 6.5% |
| BridgeBio Pharma BBIO | $14.5B | +10% | +167% | -37% | n/a | n/a |
| Takeda Pharmaceutical 4502.T | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ASND | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.3% | +7.8% | 5th highest of 21 |
| 6-month return | +7.6% | +3.8% | 8th highest of 21 |
| Distance from 52-week high | -9.0% | -10.7% | 10th highest of 21 |
| Revenue growth (TTM) | +128.4% | +18.9% | 2nd highest of 21 |
| Operating margin | 10.3% | 23.1% | 5th lowest of 21 |
| Forward P/E | 40.8× | 25.5× | 6th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 36.4% | 1.4% | 4th most demanding of 19 |
| Growth delivered (Del g) | +152.4% | +12.3% | highest of 19 |
| Hurdle (Req g minus delivered) | -116.1 pp | -11.2 pp | least demanding of 19 |
| ROIC minus cost of capital | +1.3 pp | +7.2 pp | 8th lowest of 21 |
| Net debt / EBITDA | -2.8× | 0.5× | 2nd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ascendis Pharma A/S ASND | United States | $16.0B | +8% | +128% | 10% | 40.8× | 36.4% | +152.4% |
| Orion ORNAV.HE | Finland | $16.1B | +51% | +34% | 38% | 23.5× | -6.3% | +11.7% |
| PharmaEssentia 6446.TW | Taiwan | $15.8B | +118% | +64% | 38% | 39.2× | 29.3% | +94.8% |
| Sichuan Biokin Pharmaceutical 688506.SS | China | $16.4B | -3% | +14% | -43% | n/a | n/a | n/a |
| Shionogi & 4507.T | Japan | $16.6B | -6% | +46% | 29% | 10.9× | -0.7% | +11.0% |
| Exelixis EXEL | United States | $17.0B | +44% | +9% | 40% | 18.2× | -3.7% | +18.6% |
| Jazz Pharmaceuticals Public JAZZ | United States | $15.1B | +4% | +13% | 25% | 8.9× | -3.9% | +12.5% |
| Ipsen IPN.PA | France | $14.7B | -4% | +14% | 30% | 10.9× | -7.3% | +7.2% |
| Yunnan Baiyao 000538.SZ | China | $14.7B | +4% | +5% | 11% | 18.0× | -0.5% | +4.7% |
| Swedish Orphan Biovitrum SOBI.ST | Sweden | $17.6B | +13% | +15% | 30% | 25.5× | -1.1% | +13.1% |
| Sichuan Kelun-Biotech Biopharmaceutical 6990.HK | Hong Kong | $13.9B | 0% | +44% | -38% | 1,255.9× | 56.2% | +33.7% |
| Torrent Pharmaceuticals TORNTPHARM.NS | India | $19.1B | +9% | +42% | 22% | 72.2× | 37.9% | +11.3% |
| Innovent Biologics 1801.HK | Hong Kong | $19.2B | -5% | +43% | 17% | 53.3× | 11.7% | +26.8% |
| Laurus Labs LAURUSLABS.NS | India | $13.3B | +94% | +23% | 24% | 77.0× | 50.9% | +7.3% |
| Sbp 1177.HK | Hong Kong | $12.7B | +4% | +15% | 30% | 18.3× | -5.4% | +5.4% |
| Zydus Lifesciences ZYDUSLIFE.NS | India | $12.7B | +27% | +24% | 17% | 29.8× | n/a | n/a |
| Recordati REC.MI | Italy | $12.3B | +3% | +9% | 30% | 16.7× | 1.9% | +12.6% |
| Zhangzhou Pientzehuang Pharmaceutical 600436.SS | China | $12.3B | -5% | -19% | 19% | 42.1× | 25.8% | +6.8% |
| Alnylam Pharmaceuticals ALNY | United States | $20.9B | -47% | +56% | 20% | 22.2× | 0.9% | +49.8% |
| Dr. Reddy's Laboratories DRREDDY.NS | India | $12.1B | +5% | -4% | 9% | 31.8× | 30.1% | +12.1% |
| Sigma Healthcare SIG.AX | Australia | $22.4B | -1% | +209% | 9% | 37.1× | 28.2% | +26.1% |