# Novavax Inc (NVAX) — Stock CV

Novavax Inc is a $2.10B healthcare company. Revenue shrank 61.6% over the last year, and it currently loses money.

> Novavax Inc is a biotechnology company that develops vaccines. The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases.

## Identity

- **Ticker**: NVAX
- **Sector**: Healthcare
- **Industry**: Biological Products, (No Diagnostic Substances)
- **Headquarters**: GAITHERSBURG, MD
- **Employees**: 749
- **Website**: https://www.novavax.com
- **Market cap**: $2.10B
- **Last price**: $12.73
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $414M
- **Net income**: -$248M
- **Free cash flow**: -$42.8M
- **P/E**: 4.8
- **Revenue growth (YoY)**: -61.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 42 |
| Growth | 0 |
| Profitability | 25 |
| Health | 53 |
| Quality | 15 |
| Moat | 0 |

## Qualifications (beginner checklist) — 4 of 10 passed

- [ ] Revenue growing — -61.6% YoY
- [ ] Profitable — -$248M TTM
- [x] Profit growing — +334.8% YoY
- [ ] Generates cash — -$42.8M TTM
- [x] Debt under control — current ratio 2.33
- [x] Established company — $2.10B market cap
- [ ] Not printing shares — +132.7% shares over ~5y
- [ ] Proven track record — 1/10 profitable years
- [ ] Financially stable — Altman Z -5.1 — distress
- [x] Valuation not extreme — P/E 4.8

## Experience (career milestones)

- **FY2025** — Turned profitable: $440M net income after a loss year
- **FY2025** — Best year on record: $440M net income
- **FY2021** — Revenue crossed $1B: $1.15B for the year
- **2016** — Phase II adult trial results also released in 2016 showed a stimulation of antigenicity, but failure in efficacy
- **2013** — Novavax acquired Swedish company Isconova AB, renamed Novavax AB
- **1987** — The company was founded in 1987

## Strengths

- High gross margin (79.2%)
- Interest covered 20.6× by operating earnings

## Watch-outs

- Revenue shrinking 61.6% year over year
- Not profitable — 59.9% net margin
- Negative free cash flow (-$42.8M)
- Altman Z-Score -5.14 — elevated financial-distress risk
- Loss-making in 9 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.15B | -$1.74B | $265M |
| FY2022 | $1.98B | -$658M | -$505M |
| FY2023 | $984M | -$545M | -$768M |
| FY2024 | $682M | -$188M | -$100M |
| FY2025 | $1.12B | $440M | -$250M |

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Source: https://stockcv.com/NVAX — derived from company filings; may be delayed or incomplete. Information, not investment advice.