Symbols / NVAX Stock $8.22 +0.86% Novavax, Inc.

Healthcare • Biotechnology • United States • NMS
NVAX (Stock) Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Healthcare
Industry Biotechnology
CEO Mr. John Charles Jacobs M.B.A.
Exch · Country NMS · United States
Market Cap 1.34B
Enterprise Value 882.30M
Income 440.30M
Sales 1.12B
FCF (ttm) -331.94M
Book/sh -0.79
Cash/sh 4.51
Employees 749
Insider 10d —
IPO Dec 05, 1995
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E 3.19
Forward P/E -8.11
PEG 1.32
P/S 1.19
P/B -10.46
P/C —
EV/EBITDA 1.49
EV/Sales 0.79
Quick Ratio 1.83
Current Ratio 2.13
Debt/Eq —
LT Debt/Eq —
EPS (ttm) 2.58
EPS next Y -1.01
EPS Growth —
Revenue Growth 66.60%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-05-07
Earnings (prior) 2026-02-26
ROA 25.72%
ROE —
ROIC —
Gross Margin 63.52%
Oper. Margin 14.23%
Profit Margin 39.19%
Shs Outstand 162.94M
Shs Float 140.22M
Insider Own 4.99%
Instit Own 70.31%
Short Float 28.54%
Short Ratio 12.37
Short Interest 46.34M
52W High 11.97
vs 52W High -31.33%
52W Low 5.80
vs 52W Low 41.72%
Beta 2.65
Impl. Vol. 38.79%
Rel Volume 0.42
Avg Volume 4.22M
Volume 1.79M
Target (mean) $14.00
Tgt Median $16.02
Tgt Low $7.00
Tgt High $25.00
# Analysts 9
Recom Buy
Prev Close $8.15
Price $8.22
Change 0.86%
About

Novavax, Inc., a biotechnology company, engages in the discovery, development, and commercialization of vaccines to prevent serious infectious diseases in the United States, Europe, and internationally. The company commercializes Nuvaxovid, a COVID-19 vaccine; and R21 Matrix-M adjuvant malaria vaccine. It has license and collaboration agreements with Sanofi, Pfizer Inc., Takeda Pharmaceutical Company Limited, and Serum Life Sciences Limited for the to develop, manufacture, and commercialize the COVID-19 vaccine. The company was incorporated in 1987 and is headquartered in Gaithersburg, Maryland.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$14.00
Mean price target
2. Current target
$8.22
Latest analyst target
3. DCF / Fair value
$-36.67
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$8.22
Low
$7.00
High
$25.00
Mean
$14.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-27 main HC Wainwright & Co. Buy → Buy $16
2026-01-20 reit BTIG Buy → Buy $19
2025-11-18 main JP Morgan Underweight → Underweight $6
2025-11-10 reit B. Riley Securities Buy → Buy $16
2025-11-04 main TD Cowen Hold → Hold $7
2025-10-24 init Cantor Fitzgerald — → Overweight $18
2025-10-23 main HC Wainwright & Co. Buy → Buy $11
2025-08-20 down B of A Securities Neutral → Underperform $7
2025-07-22 main B of A Securities Neutral → Neutral $9
2025-06-17 init Citigroup — → Sell $6
2025-05-09 main JP Morgan Underweight → Underweight $7
2024-12-10 reit HC Wainwright & Co. Buy → Buy $19
2024-11-13 reit HC Wainwright & Co. Buy → Buy $19
2024-11-12 reit HC Wainwright & Co. Buy → Buy $19
2024-08-12 reit B. Riley Securities Buy → Buy $23
2024-08-12 main JP Morgan Underweight → Underweight $9
2024-08-02 main B. Riley Securities Buy → Buy $25
2024-07-30 down JP Morgan Neutral → Underweight $8
2024-06-14 main B of A Securities Neutral → Neutral $18
2024-05-23 main B. Riley Securities Buy → Buy $29
News
RSS: Latest NVAX news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-10 SHIVER JOHN W. PH.D. Director — 7,947 — —
2026-03-06 KELLY JAMES PATRICK Chief Financial Officer — 12,223 — —
2026-03-03 CASEY MARK J Officer — 37,500 — —
2026-03-03 KELLY JAMES PATRICK Chief Financial Officer — 43,167 — —
2026-03-03 JACOBS JOHN C Chief Executive Officer — 150,167 — —
2026-03-03 O'HARA ELAINE Officer — 56,334 — —
2026-03-03 DRAGHIA-AKLI RUXANDRA Officer — 26,667 — —
2026-02-27 CASEY MARK J Officer — 4,000 — —
2026-02-27 KELLY JAMES PATRICK Chief Financial Officer — 58,666 — —
2026-02-27 JACOBS JOHN C Chief Executive Officer — 83,333 — —
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
1,123.48
+64.69%
682.16
+22.61%
556.38
-65.20%
1,598.95
Operating Revenue
1,123.48
+64.69%
682.16
+22.61%
556.38
-65.20%
1,598.95
Cost Of Revenue
73.04
-63.97%
202.74
-41.02%
343.77
-61.92%
902.64
Reconciled Cost Of Revenue
73.04
-63.97%
202.74
-41.02%
343.77
-61.92%
902.64
Gross Profit
1,050.44
+119.10%
479.42
+125.49%
212.61
-69.47%
696.31
Operating Expense
499.80
-31.38%
728.35
-6.52%
779.12
-41.90%
1,341.05
Research And Development
342.32
-12.49%
391.17
-46.96%
737.50
-40.30%
1,235.28
Selling General And Administration
157.48
-53.30%
337.19
-28.10%
468.95
-4.04%
488.69
General And Administrative Expense
—
—
—
488.69
Other Gand A
—
—
—
488.69
Other Operating Expenses
—
—
-427.32
-11.60%
-382.92
Total Expenses
572.84
-38.48%
931.09
-17.08%
1,122.89
-49.95%
2,243.69
Operating Income
550.64
+321.20%
-248.93
+56.06%
-566.51
+12.13%
-644.74
Total Operating Income As Reported
452.80
+281.90%
-248.93
+56.06%
-566.51
+12.13%
-644.74
EBITDA
492.33
+555.67%
-108.04
+77.83%
-487.39
+19.40%
-604.71
Normalized EBITDA
618.89
+486.82%
-159.99
+67.17%
-487.39
+19.40%
-604.71
Reconciled Depreciation
27.61
-43.06%
48.50
+17.64%
41.23
+41.89%
29.05
EBIT
464.71
+396.87%
-156.54
+70.39%
-528.62
+16.59%
-633.77
Total Unusual Items
-126.56
-343.62%
51.95
0.00
0.00
Total Unusual Items Excluding Goodwill
-126.56
-343.62%
51.95
0.00
0.00
Special Income Charges
-126.56
-343.62%
51.95
0.00
0.00
Other Special Charges
28.71
—
—
—
Write Off
97.84
0.00
0.00
—
Net Income
440.30
+334.83%
-187.50
+65.60%
-545.06
+17.16%
-657.94
Pretax Income
442.17
+350.36%
-176.62
+67.48%
-543.03
+16.92%
-653.65
Net Non Operating Interest Income Expense
-22.55
-12.31%
-20.07
-39.25%
-14.42
+27.48%
-19.88
Interest Expense Non Operating
22.55
+12.31%
20.07
+39.25%
14.42
-27.48%
19.88
Net Interest Income
-22.55
-12.31%
-20.07
-39.25%
-14.42
+27.48%
-19.88
Interest Expense
22.55
+12.31%
20.07
+39.25%
14.42
-27.48%
19.88
Other Income Expense
-85.93
-193.00%
92.39
+143.80%
37.90
+245.48%
10.97
Other Non Operating Income Expenses
40.63
+0.47%
40.44
+6.72%
37.90
+245.48%
10.97
Gain On Sale Of Security
—
—
—
—
Tax Provision
1.86
-82.86%
10.88
+435.89%
2.03
-52.68%
4.29
Tax Rate For Calcs
0.00
-100.00%
0.00
0.00
-100.00%
0.00
Tax Effect Of Unusual Items
0.00
-100.00%
10.91
0.00
0.00
Net Income Including Noncontrolling Interests
440.30
+334.83%
-187.50
+65.60%
-545.06
+17.16%
-657.94
Net Income From Continuing Operation Net Minority Interest
440.30
+334.83%
-187.50
+65.60%
-545.06
+17.16%
-657.94
Net Income From Continuing And Discontinued Operation
440.30
+334.83%
-187.50
+65.60%
-545.06
+17.16%
-657.94
Net Income Continuous Operations
440.30
+334.83%
-187.50
+65.60%
-545.06
+17.16%
-657.94
Normalized Income
566.86
+348.04%
-228.54
+58.07%
-545.06
+17.16%
-657.94
Net Income Common Stockholders
440.30
+334.83%
-187.50
+65.60%
-545.06
+17.16%
-657.94
Diluted EPS
2.58
+309.76%
-1.23
+77.26%
-5.41
+35.75%
-8.42
Basic EPS
2.72
+321.14%
-1.23
+77.26%
-5.41
+35.75%
-8.42
Basic Average Shares
161.99
+6.44%
152.19
+51.03%
100.77
+28.89%
78.18
Diluted Average Shares
173.10
+13.74%
152.19
+51.03%
100.77
+28.89%
78.18
Diluted NI Availto Com Stockholders
445.74
+337.73%
-187.50
+65.60%
-545.06
+17.16%
-657.94
Average Dilution Earnings
5.44
0.00
0.00
—
Gain On Sale Of PPE
0.00
-100.00%
51.95
0.00
0.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
1,176.51
-24.60%
1,560.42
-13.19%
1,797.49
-20.42%
2,258.68
Current Assets
978.28
-13.35%
1,128.94
-1.31%
1,143.89
-32.85%
1,703.39
Cash Cash Equivalents And Short Term Investments
735.08
-20.37%
923.12
+62.38%
568.50
-57.48%
1,336.88
Cash And Cash Equivalents
240.63
-54.62%
530.23
-6.73%
568.50
-57.48%
1,336.88
Cash Equivalents
—
—
—
—
Cash Financial
—
—
—
—
Other Short Term Investments
494.45
+25.85%
392.89
0.00
—
Receivables
106.45
-1.70%
108.28
-63.57%
297.24
+260.84%
82.38
Accounts Receivable
106.45
-1.70%
108.28
-63.57%
297.24
+260.84%
82.38
Inventory
11.54
+31.96%
8.75
-79.02%
41.70
+13.67%
36.68
Raw Materials
2.61
+25.16%
2.09
-68.45%
6.61
-52.46%
13.91
Work In Process
7.59
+54.95%
4.90
-33.73%
7.39
-65.47%
21.41
Finished Goods
1.34
-23.88%
1.76
-93.63%
27.69
+1934.53%
1.36
Prepaid Assets
16.95
-69.89%
56.28
-19.95%
70.30
-56.28%
160.77
Restricted Cash
10.88
+2.35%
10.63
+1.94%
10.42
+1.17%
10.30
Assets Held For Sale Current
87.51
0.00
—
—
Other Current Assets
9.87
-54.91%
21.89
-85.94%
155.73
+103.90%
76.37
Total Non Current Assets
198.24
-54.06%
431.48
-33.98%
653.60
+17.71%
555.29
Net PPE
67.70
-77.43%
300.00
-38.90%
490.99
+22.60%
400.49
Gross PPE
108.32
-68.98%
349.15
-38.31%
565.96
+26.39%
447.78
Accumulated Depreciation
-40.62
+17.36%
-49.16
+34.43%
-74.97
-58.52%
-47.29
Properties
0.00
0.00
0.00
0.00
Land And Improvements
0.00
-100.00%
14.95
-85.48%
102.92
+1.55%
101.34
Machinery Furniture Equipment
47.90
-27.67%
66.23
-56.82%
153.36
+9.75%
139.74
Construction In Progress
6.27
-84.13%
39.51
-48.12%
76.16
-6.63%
81.57
Other Properties
22.90
-85.83%
161.59
-12.76%
185.22
+74.34%
106.24
Leases
31.25
-53.28%
66.89
+38.45%
48.31
+155.68%
18.89
Goodwill And Other Intangible Assets
113.46
+5.57%
107.48
-15.67%
127.45
+0.89%
126.33
Goodwill
113.46
+5.57%
107.48
-15.67%
127.45
+0.89%
126.33
Other Intangible Assets
—
—
—
—
Other Non Current Assets
17.08
-28.85%
24.00
-31.74%
35.16
+23.50%
28.47
Total Liabilities Net Minority Interest
1,304.27
-40.29%
2,184.26
-13.13%
2,514.42
-13.08%
2,892.76
Current Liabilities
459.95
-60.16%
1,154.42
-29.40%
1,635.14
-33.53%
2,459.94
Payables And Accrued Expenses
80.77
-58.02%
192.39
-59.18%
471.33
-37.58%
755.11
Payables
24.58
-40.89%
41.58
-68.65%
132.61
-38.75%
216.52
Accounts Payable
24.58
-40.89%
41.58
-68.65%
132.61
-38.75%
216.52
Current Accrued Expenses
56.19
-62.74%
150.81
-55.47%
338.72
-37.11%
538.59
Pensionand Other Post Retirement Benefit Plans Current
50.98
-15.53%
60.35
+7.86%
55.95
+6.44%
52.57
Current Debt And Capital Lease Obligation
2.51
-64.23%
7.01
+36.31%
5.14
-98.54%
352.08
Current Debt
—
—
—
324.88
Other Current Borrowings
—
—
—
324.88
Current Capital Lease Obligation
2.51
-64.23%
7.01
+36.31%
5.14
-81.09%
27.20
Current Deferred Liabilities
140.05
-79.25%
675.07
+179.75%
241.31
-34.81%
370.14
Current Deferred Revenue
140.05
-79.25%
675.07
+179.75%
241.31
-34.81%
370.14
Other Current Liabilities
185.65
-15.46%
219.60
-74.51%
861.41
-7.38%
930.05
Total Non Current Liabilities Net Minority Interest
844.32
-18.02%
1,029.84
+17.12%
879.28
+103.15%
432.81
Long Term Debt And Capital Lease Obligation
246.30
+10.25%
223.41
-0.24%
223.94
+13.27%
197.70
Long Term Debt
244.21
+43.92%
169.68
+0.99%
168.02
+0.93%
166.47
Long Term Capital Lease Obligation
2.09
-96.11%
53.73
-3.93%
55.92
+79.02%
31.24
Non Current Deferred Liabilities
358.94
-19.67%
446.82
-28.19%
622.21
+246.80%
179.41
Non Current Deferred Revenue
358.94
-19.67%
446.82
-28.19%
622.21
+246.80%
179.41
Other Non Current Liabilities
239.07
-33.52%
359.61
+985.46%
33.13
-40.52%
55.70
Preferred Securities Outside Stock Equity
0.00
0.00
0.00
0.00
Stockholders Equity
-127.75
+79.52%
-623.84
+12.98%
-716.93
-13.07%
-634.08
Common Stock Equity
-127.75
+79.52%
-623.84
+12.98%
-716.93
-13.07%
-634.08
Capital Stock
1.65
+1.91%
1.62
+15.23%
1.41
+61.87%
0.87
Common Stock
1.65
+1.91%
1.62
+15.23%
1.41
+61.87%
0.87
Preferred Stock
—
—
0.00
0.00
Share Issued
164.97
+1.87%
161.94
+15.26%
140.51
+61.86%
86.81
Ordinary Shares Number
162.58
+1.34%
160.42
+14.99%
139.51
+62.14%
86.04
Treasury Shares Number
2.39
+57.33%
1.52
+52.10%
1.00
+30.48%
0.77
Additional Paid In Capital
4,539.76
+0.85%
4,501.40
+7.38%
4,192.16
+12.15%
3,737.98
Retained Earnings
-4,568.15
+8.79%
-5,008.45
-3.89%
-4,820.95
-12.75%
-4,275.89
Gains Losses Not Affecting Retained Earnings
2.01
+108.91%
-22.56
-928.77%
2.72
+142.68%
-6.38
Treasury Stock
103.02
+7.48%
95.85
+3.89%
92.27
+1.77%
90.66
Other Equity Adjustments
2.01
+108.91%
-22.56
-928.77%
2.72
+142.68%
-6.38
Total Equity Gross Minority Interest
-127.75
+79.52%
-623.84
+12.98%
-716.93
-13.07%
-634.08
Total Capitalization
116.46
+125.64%
-454.16
+17.26%
-548.91
-17.39%
-467.61
Working Capital
518.33
+2134.73%
-25.47
+94.81%
-491.25
+35.07%
-756.55
Invested Capital
116.46
+125.64%
-454.16
+17.26%
-548.91
-284.58%
-142.73
Total Debt
248.81
+7.98%
230.42
+0.58%
229.08
-58.33%
549.78
Net Debt
3.58
—
—
—
Capital Lease Obligations
4.60
-92.43%
60.73
-0.54%
61.06
+4.50%
58.43
Net Tangible Assets
-241.22
+67.02%
-731.32
+13.39%
-844.38
-11.04%
-760.41
Tangible Book Value
-241.22
+67.02%
-731.32
+13.39%
-844.38
-11.04%
-760.41
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-244.63
-180.34%
-87.26
+87.78%
-713.97
-71.65%
-415.94
Cash Flow From Continuing Operating Activities
-244.63
-180.34%
-87.26
+87.78%
-713.97
-71.65%
-415.94
Net Income From Continuing Operations
440.30
+334.83%
-187.50
+65.60%
-545.06
+17.16%
-657.94
Depreciation Amortization Depletion
27.61
-43.06%
48.50
+17.64%
41.23
+41.89%
29.05
Depreciation And Amortization
27.61
-43.06%
48.50
+17.64%
41.23
+41.89%
29.05
Other Non Cash Items
5.76
+131.89%
-18.05
-1842.63%
-0.93
+75.55%
-3.80
Stock Based Compensation
36.02
-25.21%
48.15
-43.59%
85.36
-34.49%
130.30
Provisionand Write Offof Assets
1.95
-90.72%
20.97
-70.95%
72.20
-83.87%
447.60
Asset Impairment Charge
102.72
+2386.08%
4.13
-59.01%
10.08
0.00
Operating Gains Losses
28.71
+155.27%
-51.95
—
—
Change In Working Capital
-887.71
-1931.00%
48.48
+112.87%
-376.84
-4.34%
-361.15
Change In Receivables
61.04
-82.76%
354.09
+229.02%
-274.44
-210.14%
249.17
Changes In Account Receivables
61.04
-82.76%
354.09
+229.02%
-274.44
-210.14%
249.17
Change In Inventory
-3.24
-125.09%
12.91
+117.34%
-74.46
+84.42%
-477.80
Change In Payables And Accrued Expense
-322.57
+16.35%
-385.63
-1.80%
-378.81
-141.47%
913.40
Change In Payable
-322.57
+16.35%
-385.63
-1.80%
-378.81
-141.47%
913.40
Change In Account Payable
-322.57
+16.35%
-385.63
-1.80%
-378.81
-141.47%
913.40
Change In Other Working Capital
-622.94
-1028.30%
67.11
-80.87%
350.87
+133.55%
-1,045.91
Investing Cash Flow
-78.27
+61.64%
-204.04
-246.97%
-58.81
+36.76%
-92.98
Cash Flow From Continuing Investing Activities
-78.27
+61.64%
-204.04
-246.97%
-58.81
+36.76%
-92.98
Capital Expenditure
-6.39
+56.36%
-14.64
+75.11%
-58.81
+36.76%
-92.98
Capital Expenditure Reported
-5.56
+57.42%
-13.06
+75.72%
-53.77
+39.62%
-89.06
Net Investment Purchase And Sale
-91.53
+76.04%
-382.04
0.00
0.00
Purchase Of Investment
-445.27
+46.07%
-825.59
0.00
0.00
Sale Of Investment
353.74
-20.25%
443.55
0.00
0.00
Net Business Purchase And Sale
—
—
—
0.00
Purchase Of Business
—
—
—
0.00
Net Intangibles Purchase And Sale
-0.83
+47.66%
-1.58
+68.58%
-5.04
-28.15%
-3.93
Purchase Of Intangibles
—
—
—
-3.93
Net Other Investing Changes
19.65
-89.80%
192.64
—
—
Financing Cash Flow
27.74
-89.36%
260.58
+5734.82%
4.47
-98.63%
324.99
Cash Flow From Continuing Financing Activities
27.74
-89.36%
260.58
+5734.82%
4.47
-98.63%
324.99
Net Issuance Payments Of Debt
32.53
+914.60%
-3.99
+98.87%
-352.35
-531.50%
81.66
Issuance Of Debt
42.61
0.00
0.00
-100.00%
175.25
Repayment Of Debt
-10.07
-152.15%
-3.99
+98.87%
-352.35
-276.46%
-93.59
Long Term Debt Issuance
42.61
0.00
0.00
-100.00%
175.25
Long Term Debt Payments
-10.07
-152.15%
-3.99
+98.87%
-352.35
-276.46%
-93.59
Net Long Term Debt Issuance
32.53
+914.60%
-3.99
+98.87%
-352.35
-531.50%
81.66
Net Common Stock Issuance
0.00
-100.00%
263.27
-26.92%
360.24
+44.54%
249.23
Proceeds From Stock Option Exercised
-4.80
-467.66%
1.30
+720.75%
0.16
+124.88%
-0.64
Net Other Financing Charges
—
—
-3.59
+31.70%
-5.26
Changes In Cash
-295.17
-860.89%
-30.72
+96.00%
-768.31
-317.71%
-183.93
Effect Of Exchange Rate Changes
5.92
+175.96%
-7.80
-338.39%
3.27
-27.61%
4.52
Beginning Cash Position
545.29
-6.60%
583.81
-56.72%
1,348.85
-11.74%
1,528.26
End Cash Position
256.05
-53.04%
545.29
-6.60%
583.81
-56.72%
1,348.85
Free Cash Flow
-251.02
-146.34%
-101.90
+86.81%
-772.77
-51.85%
-508.92
Interest Paid Supplemental Data
15.05
-14.37%
17.57
+1.29%
17.35
-3.80%
18.04
Income Tax Paid Supplemental Data
8.81
+827.92%
0.95
+399.47%
0.19
-98.94%
17.98
Common Stock Issuance
0.00
-100.00%
263.27
-26.92%
360.24
+44.54%
249.23
Issuance Of Capital Stock
0.00
-100.00%
263.27
-26.92%
360.24
+44.54%
249.23
Net Preferred Stock Issuance
—
—
—
0.00
Preferred Stock Issuance
—
—
—
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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