CUREVAC NV (CVAC) Stock Fundamental Analysis
NASDAQ:CVAC - Nasdaq - NL0015436031 - Common Stock - Currency: USD
We assign a fundamental rating of 6 out of 10 to CVAC. CVAC was compared to 558 industry peers in the Biotechnology industry. CVAC is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. CVAC is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year CVAC was profitable.
CVAC had a positive operating cash flow in the past year.
In the past 5 years CVAC reported 4 times negative net income.
The reported operating cash flow has been mixed in the past 5 years: CVAC reported negative operating cash flow in multiple years.
1.2 Ratios
CVAC has a better Return On Assets (24.34%) than 98.57% of its industry peers.
The Return On Equity of CVAC (27.94%) is better than 97.49% of its industry peers.
With an excellent Return On Invested Capital value of 24.75%, CVAC belongs to the best of the industry, outperforming 98.39% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 24.34% | ||
| ROE | 27.94% | ||
| ROIC | 24.75% |
ROA(3y)-13.91%
ROA(5y)-17.17%
ROE(3y)-24.58%
ROE(5y)-30.34%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
CVAC has a Profit Margin of 34.50%. This is amongst the best in the industry. CVAC outperforms 97.49% of its industry peers.
CVAC has a Operating Margin of 37.87%. This is amongst the best in the industry. CVAC outperforms 98.75% of its industry peers.
CVAC has a better Gross Margin (87.59%) than 90.68% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.87% | ||
| PM (TTM) | 34.5% | ||
| GM | 87.59% |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so CVAC is creating value.
Compared to 1 year ago, CVAC has about the same amount of shares outstanding.
Compared to 5 years ago, CVAC has more shares outstanding
CVAC has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 10.09 indicates that CVAC is not in any danger for bankruptcy at the moment.
CVAC's Altman-Z score of 10.09 is amongst the best of the industry. CVAC outperforms 86.56% of its industry peers.
The Debt to FCF ratio of CVAC is 0.26, which is an excellent value as it means it would take CVAC, only 0.26 years of fcf income to pay off all of its debts.
CVAC has a better Debt to FCF ratio (0.26) than 96.06% of its industry peers.
A Debt/Equity ratio of 0.05 indicates that CVAC is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.05, CVAC is not doing good in the industry: 62.37% of the companies in the same industry are doing better.
Although CVAC does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.05 | ||
| Debt/FCF | 0.26 | ||
| Altman-Z | 10.09 |
ROIC/WACC3.47
WACC7.13%
2.3 Liquidity
A Current Ratio of 7.65 indicates that CVAC has no problem at all paying its short term obligations.
The Current ratio of CVAC (7.65) is better than 69.35% of its industry peers.
CVAC has a Quick Ratio of 7.64. This indicates that CVAC is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 7.64, CVAC is in the better half of the industry, outperforming 69.71% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 7.65 | ||
| Quick Ratio | 7.64 |
3. Growth
3.1 Past
CVAC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 166.39%, which is quite impressive.
Looking at the last year, CVAC shows a very strong growth in Revenue. The Revenue has grown by 787.58%.
The Revenue has been growing by 98.42% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)166.39%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%25.81%
Revenue 1Y (TTM)787.58%
Revenue growth 3Y73.2%
Revenue growth 5Y98.42%
Sales Q2Q%-92.78%
3.2 Future
The Earnings Per Share is expected to decrease by -22.50% on average over the next years. This is quite bad
CVAC is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -11.04% yearly.
EPS Next Y-165.87%
EPS Next 2Y-62.26%
EPS Next 3Y-31.61%
EPS Next 5Y-22.5%
Revenue Next Year-84.64%
Revenue Next 2Y-56.35%
Revenue Next 3Y-32.7%
Revenue Next 5Y-11.04%
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
CVAC is valuated cheaply with a Price/Earnings ratio of 5.74.
CVAC's Price/Earnings ratio is rather cheap when compared to the industry. CVAC is cheaper than 98.57% of the companies in the same industry.
CVAC is valuated cheaply when we compare the Price/Earnings ratio to 27.48, which is the current average of the S&P500 Index.
CVAC is expected to report negative earnings next year, which makes the Forward Price/Earnings Ratio negative.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.74 | ||
| Fwd PE | N/A |
4.2 Price Multiples
CVAC's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. CVAC is cheaper than 99.28% of the companies in the same industry.
CVAC's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CVAC is cheaper than 98.21% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.32 | ||
| EV/EBITDA | 3.02 |
4.3 Compensation for Growth
The decent profitability rating of CVAC may justify a higher PE ratio.
CVAC's earnings are expected to decrease with -31.61% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-62.26%
EPS Next 3Y-31.61%
5. Dividend
5.1 Amount
CVAC does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
5.4
-0.08 (-1.46%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)
Earnings (Next)
Inst Owners4.7%
Inst Owner Change0%
Ins Owners0.19%
Ins Owner ChangeN/A
Market Cap1.22B
Analysts72.31
Price Target5.26 (-2.59%)
Short Float %0.93%
Short Ratio0.66
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)8.37%
Min EPS beat(2)-18.68%
Max EPS beat(2)35.41%
EPS beat(4)2
Avg EPS beat(4)39.95%
Min EPS beat(4)-18.68%
Max EPS beat(4)161.44%
EPS beat(8)3
Avg EPS beat(8)0.33%
EPS beat(12)5
Avg EPS beat(12)-6.4%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)15.68%
Min Revenue beat(2)-86.88%
Max Revenue beat(2)118.24%
Revenue beat(4)3
Avg Revenue beat(4)139.54%
Min Revenue beat(4)-86.88%
Max Revenue beat(4)366.65%
Revenue beat(8)4
Avg Revenue beat(8)58.85%
Revenue beat(12)5
Avg Revenue beat(12)30.03%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-23.96%
PT rev (3m)-33.11%
EPS NQ rev (1m)3.95%
EPS NQ rev (3m)23.96%
EPS NY rev (1m)8.76%
EPS NY rev (3m)6.65%
Revenue NQ rev (1m)-25%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-7.83%
Revenue NY rev (3m)7.12%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.74 | ||
| Fwd PE | N/A | ||
| P/S | 2 | ||
| P/FCF | 7.32 | ||
| P/OCF | 6.67 | ||
| P/B | 1.62 | ||
| P/tB | 1.69 | ||
| EV/EBITDA | 3.02 |
EPS(TTM)0.94
EY17.41%
EPS(NY)-0.54
Fwd EYN/A
FCF(TTM)0.74
FCFY13.66%
OCF(TTM)0.81
OCFY14.98%
SpS2.7
BVpS3.33
TBVpS3.2
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 24.34% | ||
| ROE | 27.94% | ||
| ROCE | 29.12% | ||
| ROIC | 24.75% | ||
| ROICexc | 70.54% | ||
| ROICexgc | 78.69% | ||
| OM | 37.87% | ||
| PM (TTM) | 34.5% | ||
| GM | 87.59% | ||
| FCFM | 27.34% |
ROA(3y)-13.91%
ROA(5y)-17.17%
ROE(3y)-24.58%
ROE(5y)-30.34%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.71
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.05 | ||
| Debt/FCF | 0.26 | ||
| Debt/EBITDA | 0.15 | ||
| Cap/Depr | 74.88% | ||
| Cap/Sales | 2.65% | ||
| Interest Coverage | 85.86 | ||
| Cash Conversion | 72.42% | ||
| Profit Quality | 79.25% | ||
| Current Ratio | 7.65 | ||
| Quick Ratio | 7.64 | ||
| Altman-Z | 10.09 |
F-Score8
WACC7.13%
ROIC/WACC3.47
Cap/Depr(3y)242.45%
Cap/Depr(5y)397%
Cap/Sales(3y)81.47%
Cap/Sales(5y)93.1%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)166.39%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%25.81%
EPS Next Y-165.87%
EPS Next 2Y-62.26%
EPS Next 3Y-31.61%
EPS Next 5Y-22.5%
Revenue 1Y (TTM)787.58%
Revenue growth 3Y73.2%
Revenue growth 5Y98.42%
Sales Q2Q%-92.78%
Revenue Next Year-84.64%
Revenue Next 2Y-56.35%
Revenue Next 3Y-32.7%
Revenue Next 5Y-11.04%
EBIT growth 1Y168.01%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-145%
EBIT Next 3Y-28.88%
EBIT Next 5Y10.78%
FCF growth 1Y142.29%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y162.99%
OCF growth 3YN/A
OCF growth 5YN/A