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.
- Symbol
- NVAX
- Exchange
- Nasdaq
- Sector
- Healthcare
- Industry
- Biotechnology
- Market cap
- $1.78B
- 52 week range
- 6.2 - 11.97
Valuation
- Share price
- $10.55 (close of 2026-09-23)
- P/E (TTM)
- -7.03x
- Price to book
- -9.36x
- Price to free cash flow
- -48.37x
- Enterprise value
- $1.89B
- Book value per share
- $-1.16
Price performance
| Period | Change |
|---|
| 1 day | +1.34% |
| 5 days | +14.30% |
| 1 month | +18.01% |
| 3 months | +17.22% |
| 6 months | +8.54% |
| Year to date | +56.99% |
| 1 year | +21.68% |
| 3 years | +42.38% |
| 5 years | -95.55% |
| 10 years | -59.11% |
| All time | -86.80% |
Profitability and growth
- Return on equity
- -344.65%
- 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%
- Net income growth
- 334.83%
- Free cash flow growth
- -180.34%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- -2.07%
- Current ratio
- 2.33x
- Net debt to EBITDA
- -0.51x
Latest reported year
- Period end
- 2025-12-31
- 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
- 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% | -344.65% | - |
| 2024-12-31 | 70.28% | -27.49% | 30.06% | - |
| 2023-12-31 | 65.05% | -55.41% | 76.03% | - |
| 2022-12-31 | 54.46% | -33.20% | 103.76% | - |
| 2021-12-31 | - | -152.12% | 495.84% | - |
| 2020-12-31 | - | -87.94% | -66.69% | -178.34% |
| 2019-12-31 | - | -711.04% | 71.33% | - |
| 2018-12-31 | - | -538.81% | 110.01% | - |
| 2017-12-31 | - | -589.46% | 180.64% | - |
| 2016-12-31 | - | -1823.53% | 5048.07% | - |
Cash and debt by year
| Period end | Cash |
|---|
| 2025-12-31 | $240.63M |
| 2024-12-31 | $530.23M |
| 2023-12-31 | $568.50M |
| 2022-12-31 | $1.34B |
| 2021-12-31 | $1.52B |
| 2020-12-31 | $553.40M |
| 2019-12-31 | $78.82M |
| 2018-12-31 | $70.15M |
| 2017-12-31 | $106.31M |
| 2016-12-31 | $144.35M |
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
Next earnings report
- Next confirmed report
- 2026-11-05
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-06 | Jun/2026 | - |
| 2026-05-06 | - | - |
| 2026-02-26 | - | - |
| 2025-11-06 | - | - |
| 2025-08-06 | - | - |
| 2025-05-08 | - | - |
| 2025-02-27 | - | - |
| 2024-11-12 | - | - |
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) · Bio-Techne Corp (TECH) · Thermo Fisher Scientific Inc. (TMO) · Danaher Corp (DHR) · IQVIA Holdings Inc. (IQV)
All Healthcare companies
Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
Explore
Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades