Vaxcyte, Inc. (PCVX)

Vaxcyte, Inc., a clinical-stage vaccine innovation company, develops conjugate and novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent carrier-sparing investigational pneumococcal conjugate vaccine (PCV) for the prevention of invasive pneumococcal disease (IPD) in infants. The company also develops VAX-31, a 31-valent, carrier-sparing investigational PCV for the prevention of IPD in adults and children; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting the keystone pathogen responsible for periodontitis; VAX-GI, a novel preclinical vaccine candidate for the treatment of dysentery and shigellosis, which is caused by Shigella bacteria; and VAX-XL, a third-generation pneumococcal conjugate vaccine. The company was formerly known as SutroVax, Inc. and changed its name to Vaxcyte, Inc. in May 2020. Vaxcyte, Inc. was incorporated in 2013 and is headquartered in San Carlos, California.

Ticker
PCVX
Exchange
Nasdaq
Sector
Healthcare
Industry
Biotechnology
Market cap
$9.54B
52-week range
$40.14 - $90.75

Valuation

Share price
$63.89 (close of Nov 6, 2026)
P/E (TTM)
-7.92x
Price to book
3.83x
Price to free cash flow
-9.79x
Enterprise value
$8.47B
Book value per share
$16.67

Price performance

PeriodChange
1 day+3.18%
5 days+3.00%
1 month-4.21%
3 months+8.49%
6 months+11.89%
Year to date+38.47%
1 year+53.18%
3 years+32.41%
5 years+152.43%
All time+144.32%

Short interest

As of
Oct 15, 2026
Short % of float
9.34%
Shares short
14.62M
Days to cover
2.89
Change since prior report
-15.42%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
-28.55%
Return on invested capital
-32.95%
Return on assets
-25.53%
Return on capital employed
-33.02%

Cash flow and balance sheet

Free cash flow yield (TTM)
-10.22%
Current ratio
4.56x
Net debt to EBITDA
0.89x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
EBITDA
-$907.27M
Net income
-$766.63M
Earnings per share
$-5.63
Research and development
$794.31M
Shares outstanding
136.09M

Income statement by year

Period endNet incomeEPS
2025-12-31-$766.63M-$5.63
2024-12-31-$463.93M-$3.80
2023-12-31-$402.27M-$4.14
2022-12-31-$223.49M-$3.44
2021-12-31-$100.08M-$1.93
2020-12-31-$89.22M-$3.02
2019-12-31-$50.27M-$13.25
2018-12-31-$29.48M-$8.12

Margins and returns by year

Period endReturn on equityReturn on capital
2025-12-31-28.55%-32.95%
2024-12-31-14.03%-16.87%
2023-12-31-32.43%-36.86%
2022-12-31-23.44%-23.91%
2021-12-31-35.24%-34.46%
2020-12-31-25.80%-25.83%

Cash and debt by year

Period endCashDebt
2025-12-31$1.56B-
2024-12-31$1.75B-
2023-12-31$1.08B-
2022-12-31$931.38M-
2021-12-31$245.97M-
2020-12-31$386.20M-
2019-12-31$58.98M-
2018-12-31$66.09M-
2017-12-31$36.14M$3.48M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31-$669.29M$138.84M
2024-12-31-$475.05M$84.82M
2023-12-31-$312.85M$48.76M
2022-12-31-$176.44M$23.65M
2021-12-31-$127.95M$10.73M
2020-12-31-$47.78M$5.43M
2019-12-31-$48.34M$1.19M
2018-12-31-$32.24M$749.00K
2017-12-31-$16.18K$390

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-04Sep 2026-$1.84
2026-08-05Jun 2026-$1.47
2026-05-06Mar 2026-$1.86
2026-02-24Dec 2025-$1.46
2025-11-04Sep 2025-$1.27
2025-08-06Jun 2025-$1.12
2025-05-07Mar 2025-$1.02
2025-02-25Dec 2024-$1.32

Filings and sources

Company website
vaxcyte.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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