Companies / NVAX Novavax Inc (NVAX)
Novavax, Inc., a biotechnology company, engages in the discovery, development, and commercialization of vaccines to prevent serious infectious diseases in the United States, Europe, and internationally. The company commercializes Nuvaxovid, a COVID-19 vaccine; and R21 Matrix-M adjuvant malaria vaccine. It has license and collaboration agreements with Sanofi, Pfizer Inc., Takeda Pharmaceutical Company Limited, and Serum Life Sciences Limited for the to develop, manufacture, and commercialize the COVID-19 vaccine. The company was incorporated in 1987 and is headquartered in Gaithersburg, Maryland.
Ticker NVAX Exchange Nasdaq Sector Healthcare Industry Biotechnology Market cap $1.78B 52-week range $6.20 - $13.39 Valuation Share price $10.78 (close of Nov 6, 2026) P/E (TTM) -22.46x Price to book -8.20x Price to free cash flow -7.44x Enterprise value $1.85B Book value per share $-1.31 Price performance Period Change 1 day +10.22% 5 days +6.94% 1 month -4.77% 3 months +39.28% 6 months +15.17% Year to date +60.42% 1 year +42.03% 3 years +56.46% 5 years -93.23% 10 years -62.83% All time -86.52%
Short interest As of Oct 15, 2026 Short % of float 28.89% Shares short 47.35M Days to cover 4.34 Change since prior report +2.83% Source FINRA consolidated short interest Profitability and growth Return on assets 37.42% Return on capital employed 63.19% Gross margin 93.50% Net margin 39.19% EBITDA margin 42.80% Revenue growth 64.69% Cash flow and balance sheet Free cash flow yield (TTM) -13.43% Current ratio 2.15x Net debt to EBITDA -1.70x Latest reported year Period end Dec 31, 2025 Fiscal year 2025 Revenue $1.12B Cost of revenue $73.04M Gross profit $1.05B EBITDA $480.80M Net income $440.30M Earnings per share $2.72 Research and development $342.32M Interest expense $22.55M Shares outstanding 161.99M Income statement by year Period end Revenue Gross profit Net income EPS 2025-12-31 $1.12B $1.05B $440.30M $2.72 2024-12-31 $682.16M $479.42M -$187.50M -$1.23 2023-12-31 $983.71M $639.94M -$545.06M -$5.41 2022-12-31 $1.98B $1.08B -$657.94M -$8.42 2021-12-31 $1.15B - -$1.74B -$23.44 2020-12-31 $475.60M - -$418.26M -$7.27 2019-12-31 $18.66M - -$132.69M -$5.51 2018-12-31 $34.29M - -$184.75M -$9.99 2017-12-31 $31.18M - -$183.77M -$12.56 2016-12-31 $15.35M - -$279.97M -$20.60
Margins and returns by year Period end Gross margin Net margin Return on equity Return on capital 2025-12-31 93.50% 39.19% - - 2024-12-31 70.28% -27.49% - - 2023-12-31 65.05% -55.41% - - 2022-12-31 54.46% -33.20% - - 2021-12-31 - -152.12% - - 2020-12-31 - -87.94% -66.69% -37.57% 2019-12-31 - -711.04% - -82.67% 2018-12-31 - -538.81% - -114.99% 2017-12-31 - -589.46% - -79.48% 2016-12-31 - -1,823.53% - -86.59%
Cash and debt by year Period end Cash Debt 2025-12-31 $240.63M $244.21M 2024-12-31 $530.23M $169.68M 2023-12-31 $568.50M $168.02M 2022-12-31 $1.34B $166.47M 2021-12-31 $1.52B $323.46M 2020-12-31 $553.40M $322.04M 2019-12-31 $78.82M $320.61M 2018-12-31 $70.15M $319.19M 2017-12-31 $106.31M $317.76M 2016-12-31 $144.35M $316.34M
Free cash flow by year Period end Free cash flow Stock-based compensation 2025-12-31 -$244.63M $36.02M 2024-12-31 -$87.26M $48.15M 2023-12-31 -$713.97M $85.36M 2022-12-31 -$415.94M $130.30M 2021-12-31 $265.46M $183.63M 2020-12-31 -$97.16M $128.03M 2019-12-31 -$138.48M $17.05M 2018-12-31 -$186.20M $18.31M 2017-12-31 -$148.66M $19.81M 2016-12-31 -$276.97M $19.16M
Investor relations Past earnings dates Reported Fiscal period EPS estimate 2026-11-05 Sep 2026 -$0.37 2026-08-06 Jun 2026 -$0.36 2026-05-06 Mar 2026 -$0.25 2026-02-26 Dec 2025 -$0.66 2025-11-06 Sep 2025 -$1.08 2025-08-06 Jun 2025 -$0.07 2025-05-08 Mar 2025 $0.71 2025-02-27 Dec 2024 -$0.75
Filings and sources Company website novavax.com SEC filings 10-K, 10-Q and 8-K on EDGAR Earnings calendar All upcoming reports Similar companies Vertex Pharmaceuticals Inc (VRTX) · Regeneron Pharmaceuticals, Inc. (REGN) · Moderna, Inc. (MRNA) · Incyte Corp (INCY) · Insmed Inc (INSM) · Bio-Techne Corp (TECH) · Thermo Fisher Scientific Inc. (TMO) · Danaher Corp (DHR)
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