NOVAVAX INC
NVAX· Nasdaq· Biological Products, (No Diagnostic Substances)
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- –
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +18.8%
We record prices for the companies we cover; NVAX is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 173.1M
- Revenue
- $1.1B
- Free cash flow
- –
- Owner earnings
- –
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 40.3%
- Net
- 39.2%
- Free cash flow
- –
- Owner earnings
- –
- Stock pay
- 3.2%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- –
- ROE, 5 yr avg
- –
Growth (CAGR)
- Revenue, 3 yr
- -17.2%
- Revenue, 5 yr
- 18.8%
- Revenue, 9 yr
- 61.1%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $735.1M
- Total debt
- $244.2M
- Net cash
- $490.9M
- Debt/Equity
- –
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 24.6%
Financials: ten years from the 10-Ks
Revenue
$1.1B
+61.1% a year over 9 years
FY2016FY2025
Margins
Operating40.3%Net39.2%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow–Owner earnings–
FY2025
FY2016FY2025
Diluted shares
173.1M
+618.3% over 9 years, net dilution
FY2016FY2025
Net cash
$490.9M
$490.9M more cash than debt
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $15.4M | $31.2M | $34.3M | $18.7M | $475.6M | $1.1B | $2.0B | $983.7M | $682.2M | $1.1B |
| Revenue growth | -57.6% | 103.1% | 10.0% | -45.6% | 2448.5% | 141.0% | 72.9% | -50.4% | -30.7% | 64.7% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | -1752.8% | -550.8% | -507.2% | -646.1% | -87.6% | -147.1% | -32.5% | -57.6% | -36.5% | 40.3% |
| Net income | -$280.0M | -$183.8M | -$184.7M | -$132.7M | -$418.3M | -$1.7B | -$657.9M | -$545.1M | -$187.5M | $440.3M |
| Net margin | -1823.5% | -589.5% | -538.8% | -711.0% | -87.9% | -152.1% | -33.2% | -55.4% | -27.5% | 39.2% |
| Diluted EPS | – | – | – | $-5.51 | $-7.27 | $-23.44 | $-8.42 | $-5.41 | $-1.23 | $2.58 |
| Return on invested capital? | – | – | – | – | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | -$258.8M | -$144.5M | -$184.8M | -$136.6M | -$42.5M | $322.9M | -$415.9M | -$714.0M | -$87.3M | -$244.6M |
| Capital expenditure | $18.2M | $4.2M | $1.4M | $1.9M | $54.6M | $57.5M | – | – | – | – |
| Free cash flow | -$277.0M | -$148.7M | -$186.2M | -$138.5M | -$97.2M | $265.5M | – | – | – | – |
| Stock-based compensation | $19.2M | $19.8M | $18.3M | $17.0M | $128.0M | $183.6M | $130.3M | $85.4M | $48.2M | $36.0M |
| Owner earnings? | -$296.1M | -$168.5M | -$204.5M | -$155.5M | -$225.2M | $81.8M | – | – | – | – |
| Free cash flow per share | – | – | – | $-5.75 | $-1.69 | $3.57 | – | – | – | – |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | – | – | – | – | – | – | – | – | – | – |
| Diluted shares | – | – | – | 24.1M | 57.6M | 74.4M | 78.2M | 100.8M | 152.2M | 173.1M |
| Share count change? | – | – | – | – | 138.8% | 29.3% | 5.1% | 28.9% | 51.0% | 13.7% |
| Balance sheet | ||||||||||
| Cash and equivalents | $144.4M | $106.3M | $70.2M | $78.8M | $553.4M | $1.5B | $1.3B | $568.5M | $530.2M | $240.6M |
| Short-term investments | $91.1M | $51.0M | $22.0M | $0 | $157.6M | $0 | – | $0 | $392.9M | $494.4M |
| Total debt | $316.3M | $317.8M | $319.2M | $320.6M | $322.0M | $323.5M | $491.3M | $168.0M | $169.7M | $244.2M |
| Net debt | $80.9M | $160.5M | $227.1M | $241.8M | -$389.0M | -$1.2B | -$845.5M | -$400.5M | -$753.4M | -$490.9M |
| Shareholders' equity | -$5.5M | -$101.7M | -$167.9M | -$186.0M | $627.2M | -$351.7M | -$634.1M | -$716.9M | -$623.8M | -$127.8M |
Latest filings
| 2026-08-06 | 8-K | Earnings release |
| 2026-08-06 | 10-Q | Quarterly report |
| 2026-05-06 | 8-K | Earnings release |
| 2026-05-06 | 10-Q | Quarterly report |
| 2026-04-27 | DEF 14A | Proxy statement |
| 2026-02-26 | 8-K | Earnings release |
| 2026-02-26 | 10-K | Annual report |
| 2026-01-12 | 8-K | Earnings release |
| 2025-11-06 | 8-K | Earnings release |
| 2025-11-06 | 10-Q | Quarterly report |
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