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NOVAVAX INC (NVAX) Stock Fundamental Analysis

NASDAQ:NVAX - Nasdaq - US6700024010 - Common Stock - Currency: USD

6.56  -0.09 (-1.35%)

After market: 6.6 +0.04 (+0.61%)

Fundamental Rating

4

Overall NVAX gets a fundamental rating of 4 out of 10. We evaluated NVAX against 553 industry peers in the Biotechnology industry. While NVAX is still in line with the averages on profitability rating, there are concerns on its financial health. NVAX is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year NVAX was profitable.
NVAX had a negative operating cash flow in the past year.
In the past 5 years NVAX always reported negative net income.
NVAX had negative operating cash flow in 4 of the past 5 years.
NVAX Yearly Net Income VS EBIT VS OCF VS FCFNVAX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -500M -1B -1.5B

1.2 Ratios

The Return On Assets of NVAX (37.02%) is better than 98.92% of its industry peers.
Looking at the Return On Invested Capital, with a value of 38.36%, NVAX belongs to the top of the industry, outperforming 99.64% of the companies in the same industry.
Industry RankSector Rank
ROA 37.02%
ROE N/A
ROIC 38.36%
ROA(3y)-23.82%
ROA(5y)-33.12%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
NVAX Yearly ROA, ROE, ROICNVAX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1K 2K 3K 4K 5K

1.3 Margins

NVAX has a Profit Margin of 38.14%. This is amongst the best in the industry. NVAX outperforms 98.19% of its industry peers.
Looking at the Operating Margin, with a value of 33.69%, NVAX belongs to the top of the industry, outperforming 98.19% of the companies in the same industry.
The Gross Margin of NVAX (87.52%) is better than 90.42% of its industry peers.
Industry RankSector Rank
OM 33.69%
PM (TTM) 38.14%
GM 87.52%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
NVAX Yearly Profit, Operating, Gross MarginsNVAX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -500 -1K -1.5K

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so NVAX is creating value.
Compared to 1 year ago, NVAX has more shares outstanding
The number of shares outstanding for NVAX has been increased compared to 5 years ago.
The debt/assets ratio for NVAX is higher compared to a year ago.
NVAX Yearly Shares OutstandingNVAX Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
NVAX Yearly Total Debt VS Total AssetsNVAX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

2.2 Solvency

NVAX has an Altman-Z score of -1.93. This is a bad value and indicates that NVAX is not financially healthy and even has some risk of bankruptcy.
NVAX's Altman-Z score of -1.93 is in line compared to the rest of the industry. NVAX outperforms 53.16% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF N/A
Altman-Z -1.93
ROIC/WACC4.18
WACC9.18%
NVAX Yearly LT Debt VS Equity VS FCFNVAX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M 600M -600M

2.3 Liquidity

A Current Ratio of 2.06 indicates that NVAX has no problem at all paying its short term obligations.
NVAX has a Current ratio of 2.06. This is in the lower half of the industry: NVAX underperforms 74.50% of its industry peers.
A Quick Ratio of 2.03 indicates that NVAX has no problem at all paying its short term obligations.
NVAX's Quick ratio of 2.03 is on the low side compared to the rest of the industry. NVAX is outperformed by 73.24% of its industry peers.
Industry RankSector Rank
Current Ratio 2.06
Quick Ratio 2.03
NVAX Yearly Current Assets VS Current LiabilitesNVAX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

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5

3. Growth

3.1 Past

NVAX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 173.50%, which is quite impressive.
NVAX shows a strong growth in Revenue. In the last year, the Revenue has grown by 25.92%.
The Revenue has been growing by 105.31% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)173.5%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%379.05%
Revenue 1Y (TTM)25.92%
Revenue growth 3Y-15.89%
Revenue growth 5Y105.31%
Sales Q2Q%610.3%

3.2 Future

NVAX is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.84% yearly.
The Revenue is expected to decrease by -10.43% on average over the next years. This is quite bad
EPS Next Y247.26%
EPS Next 2Y45.51%
EPS Next 3Y21.74%
EPS Next 5Y17.84%
Revenue Next Year48.43%
Revenue Next 2Y-25.73%
Revenue Next 3Y-27.99%
Revenue Next 5Y-10.43%

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.
NVAX Yearly Revenue VS EstimatesNVAX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 500M 1B 1.5B 2B
NVAX Yearly EPS VS EstimatesNVAX Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 -5 -10 -15 -20

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 2.82 indicates a rather cheap valuation of NVAX.
Based on the Price/Earnings ratio, NVAX is valued cheaply inside the industry as 98.73% of the companies are valued more expensively.
NVAX's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.82.
A Price/Forward Earnings ratio of 33.85 indicates a quite expensive valuation of NVAX.
90.42% of the companies in the same industry are more expensive than NVAX, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of NVAX to the average of the S&P500 Index (36.21), we can say NVAX is valued inline with the index average.
Industry RankSector Rank
PE 2.82
Fwd PE 33.85
NVAX Price Earnings VS Forward Price EarningsNVAX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NVAX is valued cheaper than 99.64% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 0.2
NVAX Per share dataNVAX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as NVAX's earnings are expected to grow with 21.74% in the coming years.
PEG (NY)0.01
PEG (5Y)N/A
EPS Next 2Y45.51%
EPS Next 3Y21.74%

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0

5. Dividend

5.1 Amount

No dividends for NVAX!.
Industry RankSector Rank
Dividend Yield N/A

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NOVAVAX INC

NASDAQ:NVAX (8/1/2025, 8:00:02 PM)

After market: 6.6 +0.04 (+0.61%)

6.56

-0.09 (-1.35%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)05-08 2025-05-08/bmo
Earnings (Next)08-06 2025-08-06/bmo
Inst Owners57.11%
Inst Owner Change1.4%
Ins Owners0.37%
Ins Owner Change18.95%
Market Cap1.06B
Analysts74.29
Price Target15.45 (135.52%)
Short Float %29.16%
Short Ratio5.56
Dividend
Industry RankSector 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)124.28%
Min EPS beat(2)-58.31%
Max EPS beat(2)306.88%
EPS beat(4)2
Avg EPS beat(4)53.44%
Min EPS beat(4)-58.31%
Max EPS beat(4)306.88%
EPS beat(8)5
Avg EPS beat(8)21.96%
EPS beat(12)6
Avg EPS beat(12)-34.55%
EPS beat(16)6
Avg EPS beat(16)-60.38%
Revenue beat(2)2
Avg Revenue beat(2)46.34%
Min Revenue beat(2)2.61%
Max Revenue beat(2)90.08%
Revenue beat(4)3
Avg Revenue beat(4)23.46%
Min Revenue beat(4)-11.17%
Max Revenue beat(4)90.08%
Revenue beat(8)5
Avg Revenue beat(8)20.39%
Revenue beat(12)6
Avg Revenue beat(12)7.16%
Revenue beat(16)6
Avg Revenue beat(16)-2.44%
PT rev (1m)0%
PT rev (3m)-12.64%
EPS NQ rev (1m)-85.47%
EPS NQ rev (3m)-154.8%
EPS NY rev (1m)-7.6%
EPS NY rev (3m)207.38%
Revenue NQ rev (1m)-5.33%
Revenue NQ rev (3m)-4.65%
Revenue NY rev (1m)-3.08%
Revenue NY rev (3m)55.25%
Valuation
Industry RankSector Rank
PE 2.82
Fwd PE 33.85
P/S 0.85
P/FCF N/A
P/OCF N/A
P/B N/A
P/tB N/A
EV/EBITDA 0.2
EPS(TTM)2.33
EY35.52%
EPS(NY)0.19
Fwd EY2.95%
FCF(TTM)-1.21
FCFYN/A
OCF(TTM)-1.17
OCFYN/A
SpS7.75
BVpS-0.47
TBVpS-1.16
PEG (NY)0.01
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 37.02%
ROE N/A
ROCE 48.55%
ROIC 38.36%
ROICexc 239.72%
ROICexgc 1222.82%
OM 33.69%
PM (TTM) 38.14%
GM 87.52%
FCFM N/A
ROA(3y)-23.82%
ROA(5y)-33.12%
ROE(3y)N/A
ROE(5y)N/A
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-Score5
Asset Turnover0.97
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF N/A
Debt/EBITDA 0.48
Cap/Depr 16.56%
Cap/Sales 0.59%
Interest Coverage 22.06
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.06
Quick Ratio 2.03
Altman-Z -1.93
F-Score5
WACC9.18%
ROIC/WACC4.18
Cap/Depr(3y)158.98%
Cap/Depr(5y)408.8%
Cap/Sales(3y)4.02%
Cap/Sales(5y)5.71%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)173.5%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%379.05%
EPS Next Y247.26%
EPS Next 2Y45.51%
EPS Next 3Y21.74%
EPS Next 5Y17.84%
Revenue 1Y (TTM)25.92%
Revenue growth 3Y-15.89%
Revenue growth 5Y105.31%
Sales Q2Q%610.3%
Revenue Next Year48.43%
Revenue Next 2Y-25.73%
Revenue Next 3Y-27.99%
Revenue Next 5Y-10.43%
EBIT growth 1Y211.83%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year320.34%
EBIT Next 3Y13.61%
EBIT Next 5YN/A
FCF growth 1Y73.75%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y71.02%
OCF growth 3YN/A
OCF growth 5YN/A