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Novavax (NVAX) Financials

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Annual Income Statements for Novavax

Annual Income Statements for Novavax

This table shows Novavax's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014
Net Income / (Loss) Attributable to Common Shareholders		 -187 -545 -658 -1,744 -418 -133 -185 -184 -280 -157 -83
Consolidated Net Income / (Loss)		 -187 -545 -658 -1,744 -418 -133 -185 -184 -280 -157 -83
Net Income / (Loss) Continuing Operations		 -187 -545 -658 -1,744 -418 -133 -185 -184 -280 -157 -83
Total Pre-Tax Income 		-177 -543 -654 -1,715 -418 -133 -185 -184 -280 -157 -83
Total Operating Income		 -249 -567 -645 -1,687 -417 -121 -174 -172 -269 -157 -84
Total Gross Profit		 479 640 1,079 1,146 476 19 0.00 31 15 36 31
Total Revenue		 682 984 1,982 1,146 476 19 0.00 31 15 36 31
Operating Revenue		 682 984 1,982 1,146 476 19 0.00 31 15 36 31
Total Cost of Revenue		 203 344 903 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cost of Revenue		 203 344 903 0.00 0.00 - - - - - -
Total Operating Expenses		 728 1,206 1,724 2,833 892 139 174 203 284 193 114
Selling, General & Admin Expense		 337 469 489 298 145 34 34 34 47 31 20
Research & Development Expense		 391 738 1,235 2,535 747 114 174 168 238 163 94
Total Other Income / (Expense), net		 72 23 -8.91 -28 -1.54 -12 -11 -12 -11 0.30 0.74
Interest Expense		 20 14 20 21 15 14 14 14 13 0.24 0.16
Other Income / (Expense), net		 92 38 11 -6.83 14 -0.01 0.11 0.07 -0.03 -0.12 0.00
Income Tax Expense		 11 2.03 4.29 29 0.00 0.00 - - - - -
Basic Earnings per Share		 ($1.23) ($5.41) ($8.42) ($23.44) ($7.27) ($5.51) ($9.99) ($12.56) ($1.03) ($0.60) ($0.37)
Weighted Average Basic Shares Outstanding		 152.19M 100.77M 78.18M 74.40M 57.55M 24.10M 18.49M 14.63M 270.80M 262.25M 225.85M
Diluted Earnings per Share		 ($1.23) ($5.41) ($8.42) ($23.44) ($7.27) ($5.51) ($9.99) ($12.56) ($1.03) ($0.60) ($0.37)
Weighted Average Diluted Shares Outstanding		 152.19M 100.77M 78.18M 74.40M 57.55M 24.10M 18.49M 14.63M 270.80M 262.25M 225.85M
Weighted Average Basic & Diluted Shares Outstanding		 160.84M 139.95M 86.17M 76.28M 57.55M 24.10M 18.49M 14.63M 270.80M 262.25M 225.85M

Quarterly Income Statements for Novavax

This table shows Novavax's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 519 -81 -121 162 -148 -178 -131 58 -294 -182 -169
Consolidated Net Income / (Loss)		 519 -81 -121 162 -148 -178 -131 58 -294 -182 -169
Net Income / (Loss) Continuing Operations		 519 -81 -121 162 -148 -178 -131 58 -294 -182 -169
Total Pre-Tax Income 		520 -74 -122 165 -145 -177 -131 58 -293 -185 -166
Total Operating Income		 516 -131 -134 161 -145 -184 -126 55 -313 -244 -127
Total Gross Profit		 653 52 24 369 35 136 88 369 47 176 300
Total Revenue		 667 88 85 415 94 291 187 424 81 357 735
Operating Revenue		 667 88 85 415 94 291 187 424 81 357 735
Total Cost of Revenue		 14 37 61 46 59 155 99 56 34 182 435
Operating Cost of Revenue		 14 37 61 46 59 155 99 56 34 182 435
Total Operating Expenses		 137 183 158 208 179 320 214 313 360 420 427
Selling, General & Admin Expense		 48 78 71 101 87 155 107 94 113 162 123
Research & Development Expense		 89 104 87 107 93 165 106 219 247 258 304
Total Other Income / (Expense), net		 4.33 57 12 3.59 -0.46 6.87 -5.84 2.41 20 59 -39
Interest Expense		 5.72 7.59 4.24 4.14 4.11 4.12 2.86 3.12 4.32 4.60 4.17
Other Income / (Expense), net		 10 65 16 7.73 3.65 11 -2.98 5.53 24 64 -35
Income Tax Expense		 1.20 7.45 -1.03 2.21 2.26 1.69 -0.70 -0.14 1.18 -2.26 2.47
Basic Earnings per Share		 $3.22 ($0.51) ($0.76) $1.09 ($1.05) ($1.39) ($1.26) $0.65 ($3.41) ($2.40) ($2.15)
Weighted Average Basic Shares Outstanding		 161.05M 152.19M 160.05M 148.38M 139.92M 100.77M 103.43M 89.36M 86.16M 78.18M 78.27M
Diluted Earnings per Share		 $2.93 ($0.41) ($0.76) $0.99 ($1.05) ($1.32) ($1.26) $0.58 ($3.41) ($2.30) ($2.15)
Weighted Average Diluted Shares Outstanding		 177.63M 152.19M 160.05M 165.86M 139.92M 100.77M 103.43M 104.07M 86.16M 78.18M 78.27M
Weighted Average Basic & Diluted Shares Outstanding		 161.97M 160.84M 160.18M 160.09M 140.40M 139.95M 118.79M 94.40M 86.31M 86.17M 78.50M

Annual Cash Flow Statements for Novavax

This table details how cash moves in and out of Novavax's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014
Net Change in Cash & Equivalents		 -39 -765 -179 880 567 0.22 -53 -44 49 61 -87
Net Cash From Operating Activities		 -87 -714 -416 323 -43 -137 -185 -144 -259 -126 -67
Net Cash From Continuing Operating Activities		 -87 -714 -416 323 -43 -137 -185 -144 -259 -126 -67
Net Income / (Loss) Continuing Operations		 -187 -545 -658 -1,744 -418 -133 -185 -184 -280 -157 -83
Consolidated Net Income / (Loss)		 -187 -545 -658 -1,744 -418 -133 -185 -184 -280 -157 -83
Depreciation Expense		 48 41 29 13 4.89 5.68 8.16 9.82 8.51 5.98 4.42
Non-Cash Adjustments To Reconcile Net Income		 3.26 167 574 320 359 14 11 23 18 -21 7.19
Changes in Operating Assets and Liabilities, net		 48 -377 -361 1,734 12 -24 -21 5.26 -6.57 45 3.91
Net Cash From Investing Activities		 -204 -59 -93 100 -378 38 29 36 28 -21 -130
Net Cash From Continuing Investing Activities		 -204 -59 -93 100 -378 38 29 36 28 -21 -130
Purchase of Property, Plant & Equipment		 -15 -59 -93 -57 -55 -1.86 -1.37 -4.19 -18 -18 -7.27
Purchase of Investments		 -826 0.00 0.00 -2.17 -363 -17 -120 -218 -357 -229 -176
Sale of Property, Plant & Equipment		 193 0.00 0.00 - - 18 0.00 - - - 0.04
Sale and/or Maturity of Investments		 444 0.00 0.00 160 206 40 150 258 403 226 54
Net Cash From Financing Activities		 261 4.47 325 462 985 98 103 65 280 208 110
Net Cash From Continuing Financing Activities		 261 4.47 325 462 985 98 103 65 280 208 110
Repayment of Debt		 0.00 -325 0.00 0.00 0.00 - - - -10 -0.73 -0.80
Repurchase of Common Equity		 0.00 -3.59 -5.26 0.00 - - - - - - -
Issuance of Debt		 0.00 0.00 175 0.00 0.00 - - 0.04 325 0.07 0.00
Issuance of Common Equity		 263 360 249 565 876 97 100 63 0.00 204 108
Other Financing Activities, net		 -2.69 -27 -94 -103 -91 0.99 2.75 1.15 -35 4.80 2.62
Other Net Changes in Cash		 -7.80 - - - 2.12 - - 0.14 -0.34 - -
Cash Interest Paid		 18 17 18 19 14 12 12 12 6.19 0.10 0.18
Cash Income Taxes Paid		 0.95 0.19 18 13 0.00 0.00 - - - - -

Quarterly Cash Flow Statements for Novavax

This table details how cash moves in and out of Novavax's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 -267 -43 -107 200 -88 -83 148 -119 -712 56 -94
Net Cash From Operating Activities		 -186 -173 -145 314 -84 -177 -40 -172 -326 -118 -39
Net Cash From Continuing Operating Activities		 -186 -173 -145 314 -84 -177 -40 -172 -326 -118 -39
Net Income / (Loss) Continuing Operations		 519 -81 -121 162 -148 -178 -131 58 -294 -182 -169
Consolidated Net Income / (Loss)		 519 -81 -121 162 -148 -178 -131 58 -294 -182 -169
Depreciation Expense		 8.34 13 13 11 12 11 11 10 9.04 7.22 8.35
Non-Cash Adjustments To Reconcile Net Income		 27 -56 16 26 18 40 36 51 40 98 253
Changes in Operating Assets and Liabilities, net		 -740 -49 -52 115 34 -50 44 -291 -81 -41 -131
Net Cash From Investing Activities		 -73 144 32 -373 -7.25 -9.08 -18 -7.78 -24 -22 -30
Net Cash From Continuing Investing Activities		 -73 144 32 -373 -7.25 -9.08 -18 -7.78 -24 -22 -30
Purchase of Property, Plant & Equipment		 -1.60 -2.25 -2.01 -3.13 -7.25 -9.08 -18 -7.78 -24 -22 -30
Purchase of Investments		 -115 -384 -72 - - - - - - - -
Sale and/or Maturity of Investments		 43 338 - - - - - - - - -
Net Cash From Financing Activities		 -7.06 -3.42 -0.10 258 5.89 100 197 61 -354 191 -31
Net Cash From Continuing Financing Activities		 -7.06 -3.42 -0.10 258 5.89 100 197 61 -354 191 -31
Issuance of Common Equity		 0.00 - - 256 6.86 103 195 62 0.00 70 -
Other Financing Activities, net		 -7.06 -3.42 -0.10 1.81 -0.98 -2.86 2.11 -0.65 -26 -48 -31
Effect of Exchange Rate Changes		 -0.93 - - - -2.96 - - - - - -
Cash Interest Paid		 2.80 9.07 1.32 5.97 1.21 5.60 0.46 4.73 6.57 0.78 8.66
Cash Income Taxes Paid		 1.50 0.31 1.29 -0.58 -0.07 0.06 - 0.13 0.00 0.14 0.07

Annual Balance Sheets for Novavax

This table presents Novavax's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014
Total Assets		 1,560 1,797 2,259 2,577 1,582 173 208 302 394 386 276
Total Current Assets		 1,129 1,144 1,703 2,155 1,248 97 119 203 288 287 188
Cash & Equivalents		 530 569 1,337 1,515 553 79 70 106 144 93 32
Restricted Cash		 11 10 10 11 94 2.95 11 28 30 35 0.30
Short-Term Investments		 393 0.00 - - 158 0.00 22 51 91 138 136
Accounts Receivable		 108 297 82 455 262 7.50 - - - 2.32 7.51
Inventories, net		 8.75 42 37 8.87 - - - - - - -
Prepaid Expenses		 78 226 237 165 181 7.98 16 18 22 19 9.20
Plant, Property, & Equipment, net		 138 306 294 226 180 11 28 36 40 32 20
Total Noncurrent Assets		 293 348 261 196 154 64 60 63 66 66 68
Goodwill		 107 127 126 131 135 51 52 54 52 53 55
Other Noncurrent Operating Assets		 186 220 135 64 13 7.12 0.81 0.87 0.80 0.16 0.92
Total Liabilities & Shareholders' Equity		 1,560 1,797 2,259 2,577 1,582 173 208 302 394 386 276
Total Liabilities		 2,184 2,514 2,893 2,928 955 359 376 404 400 93 46
Total Current Liabilities		 1,154 1,635 2,460 2,390 580 26 46 74 66 76 34
Accounts Payable		 42 133 217 127 54 2.91 9.30 5.61 5.69 12 13
Accrued Expenses		 211 395 591 674 137 15 20 30 25 27 19
Current Deferred Revenue		 675 241 370 1,423 273 1.68 10 26 30 34 1.14
Other Current Liabilities		 227 867 957 167 115 1.26 1.60 7.75 1.06 3.01 0.07
Total Noncurrent Liabilities		 1,030 879 433 538 376 333 330 331 333 17 12
Long-Term Debt		 170 168 166 323 322 321 319 318 316 0.00 0.40
Noncurrent Deferred Revenue		 447 622 179 173 0.00 - 2.50 2.50 2.50 4.17 10
Other Noncurrent Operating Liabilities		 413 89 87 42 54 13 8.69 10 15 13 1.64
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -624 -717 -634 -352 627 -186 -168 -102 -5.55 293 230
Total Preferred & Common Equity		 -624 -717 -634 -352 627 -186 -168 -102 -5.55 293 230
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -624 -717 -634 -352 627 -186 -168 -102 -5.55 293 230
Common Stock		 4,503 4,194 3,739 3,353 2,536 1,261 1,145 1,024 939 954 732
Retained Earnings		 -5,008 -4,821 -4,276 -3,618 -1,874 -1,432 -1,299 -1,114 -930 -650 -493
Treasury Stock		 -96 -92 -91 -85 -42 -2.58 -2.45 -2.45 -2.45 -2.45 -2.45
Accumulated Other Comprehensive Income / (Loss)		 -23 2.72 -6.38 -1.35 7.02 -13 -11 -8.62 -12 -9.12 -6.61

Quarterly Balance Sheets for Novavax

This table presents Novavax's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 1,293 1,712 1,819 1,354 1,657 1,685 1,543 2,267
Total Current Assets		 868 1,104 1,203 727 1,007 1,128 971 1,760
Cash & Equivalents		 263 574 680 481 651 506 625 1,281
Restricted Cash		 11 11 10 10 10 10 10 11
Short-Term Investments		 468 336 369 - - - - -
Accounts Receivable		 45 95 32 21 124 395 113 112
Inventories, net		 10 8.64 9.17 16 70 23 34 82
Prepaid Expenses		 71 80 102 199 152 193 189 275
Plant, Property, & Equipment, net		 134 286 289 291 301 300 307 256
Total Noncurrent Assets		 291 323 327 335 349 258 264 252
Goodwill		 112 127 123 123 124 128 130 118
Other Noncurrent Operating Assets		 179 196 203 212 226 129 134 126
Total Liabilities & Shareholders' Equity		 1,293 1,712 1,819 1,354 1,657 1,685 1,543 2,267
Total Liabilities		 1,369 2,239 2,250 2,221 2,336 2,440 2,438 2,833
Total Current Liabilities		 422 1,181 1,158 804 1,469 1,596 1,919 1,668
Accounts Payable		 34 58 80 58 102 87 125 145
Accrued Expenses		 132 219 159 257 311 458 519 551
Current Deferred Revenue		 108 613 666 241 192 300 416 405
Other Current Liabilities		 148 291 252 248 863 750 860 243
Total Noncurrent Liabilities		 946 1,058 1,093 1,416 867 843 519 1,165
Long-Term Debt		 170 169 169 168 168 167 167 0.00
Noncurrent Deferred Revenue		 410 515 533 841 609 607 274 1,035
Other Noncurrent Operating Liabilities		 367 373 390 406 90 69 79 130
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -76 -526 -432 -867 -678 -755 -896 -566
Total Preferred & Common Equity		 -76 -526 -432 -867 -678 -755 -896 -566
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 - -
Total Common Equity		 -76 -526 -432 -867 -678 -755 -896 -566
Common Stock		 4,514 4,492 4,479 4,206 4,068 3,857 3,769 3,641
Retained Earnings		 -4,490 -4,927 -4,806 -4,969 -4,643 -4,512 -4,570 -4,094
Treasury Stock		 -102 -95 -94 -94 -92 -91 -91 -90
Accumulated Other Comprehensive Income / (Loss)		 1.61 3.60 -11 -11 -12 -8.18 -3.17 -24

Annual Metrics And Ratios for Novavax

This table displays calculated financial ratios and metrics derived from Novavax's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -30.65% -50.36% 72.89% 141.02% 2,448.48% 0.00% -100.00% 103.06% -57.65% 18.24% 46.59%
EBITDA Growth		 77.83% 19.40% 64.02% -322.06% -246.53% 30.02% -2.38% 38.15% -71.32% -91.97% -61.29%
EBIT Growth		 70.39% 16.59% 62.57% -320.08% -234.27% 30.62% -1.26% 36.23% -71.04% -88.02% -60.99%
NOPAT Growth		 56.06% 12.13% 61.77% -304.73% -245.59% 30.67% -1.29% 36.19% -71.15% -87.88% -59.61%
Net Income Growth		 65.60% 17.16% 62.27% -316.91% -215.21% 28.18% -0.53% 34.36% -78.39% -89.20% -59.57%
EPS Growth		 77.26% 35.75% 64.08% -222.42% -31.94% 44.84% -0.53% 34.36% -71.67% -62.16% -19.35%
Operating Cash Flow Growth		 87.78% -71.65% -228.79% 859.14% 68.86% 26.08% -27.93% 44.17% -105.22% -88.15% -47.74%
Free Cash Flow Firm Growth		 111.31% -46.96% -199.55% 236.99% -322.90% 35.81% -27.48% 47.62% -186.78% -45.02% 35.60%
Invested Capital Growth		 -23.06% 24.30% 4.17% -1,177.37% 151.02% 9.74% 51.06% -23.76% 81.79% -59.81% -11.85%
Revenue Q/Q Growth		 -22.94% -6.29% 7.32% -7.76% 186.78% 201.89% -100.00% 19.16% -2.87% -2.35% -6.20%
EBITDA Q/Q Growth		 50.06% 2.19% 51.73% -63.04% -56.18% 11.78% 0.66% 3.73% 9.35% -46.85% -27.10%
EBIT Q/Q Growth		 40.51% 1.37% 50.42% -62.56% -55.64% 12.87% 0.70% 3.54% 8.46% -42.90% -26.27%
NOPAT Q/Q Growth		 17.41% 9.62% 47.40% -61.48% -58.71% 12.87% 0.73% 3.52% 8.46% -42.94% -26.27%
Net Income Q/Q Growth		 34.18% 0.70% 50.23% -62.20% -53.48% 11.65% 0.81% 3.30% 7.19% -43.09% -26.72%
EPS Q/Q Growth		 42.52% 15.34% 0.00% -63.00% -64.11% 10.70% 0.81% 3.30% 7.21% -36.36% -23.33%
Operating Cash Flow Q/Q Growth		 3.98% -9.00% 35.06% -39.84% -168.30% 13.61% -1.02% 12.77% -3.94% -38.40% -12.61%
Free Cash Flow Firm Q/Q Growth		 180.97% 5.10% -5.86% 5.90% -103.89% 14.64% -0.40% 10.72% -28.33% 11.35% -7.43%
Invested Capital Q/Q Growth		 -8.66% 3.79% 2.80% -33.76% 147.22% 1.72% 7.95% 7.45% 32.48% -67.66% -13.78%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 70.28% 65.05% 54.46% 100.00% 100.00% 100.00% 0.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 -15.84% -49.55% -30.51% -146.63% -83.73% -615.79% 0.00% -514.50% -1,689.14% -417.58% -257.19%
Operating Margin		 -36.49% -57.59% -32.53% -147.13% -87.62% -646.13% 0.00% -550.78% -1,752.84% -433.75% -272.97%
EBIT Margin		 -22.95% -53.74% -31.98% -147.73% -84.76% -646.20% 0.00% -550.56% -1,753.04% -434.09% -272.97%
Profit (Net Income) Margin		 -27.49% -55.41% -33.20% -152.12% -87.94% -711.04% 0.00% -589.46% -1,823.53% -432.93% -270.55%
Tax Burden Percent		 106.16% 100.37% 100.66% 101.70% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 112.82% 102.73% 103.14% 101.25% 103.76% 110.03% 106.29% 107.06% 104.02% 99.73% 99.11%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% -289.09% -153.63% 0.00% -299.86% -534.33% -252.20% -88.17%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% -183.35% -174.45% 0.00% -367.68% -449.77% -230.65% -71.92%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 99.48% 228.61% 0.00% 642.46% 339.32% 192.10% 49.84%
Return on Equity (ROE)		 27.97% 80.69% 133.49% -1,265.72% -189.60% 74.98% 137.02% 342.60% -195.01% -60.10% -38.33%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% -375.14% -162.91% -320.31% -272.90% -592.38% -166.87% -75.57%
Operating Return on Assets (OROA)		 -9.32% -26.06% -26.21% -81.43% -45.93% -63.31% 0.00% -49.27% -68.98% -47.54% -32.75%
Return on Assets (ROA)		 -11.17% -26.88% -27.21% -83.85% -47.65% -69.67% 0.00% -52.75% -71.76% -47.41% -32.46%
Return on Common Equity (ROCE)		 27.97% 80.69% 133.49% -1,265.72% -189.60% 74.98% 137.02% 342.60% -195.01% -60.10% -38.33%
Return on Equity Simple (ROE_SIMPLE)		 30.06% 76.03% 103.76% 495.84% -66.69% 71.33% 110.01% 180.64% 0.00% -53.62% -36.12%
Net Operating Profit after Tax (NOPAT)		 -174 -397 -451 -1,181 -292 -84 -122 -120 -188 -110 -59
NOPAT Margin		 -25.54% -40.31% -22.77% -102.99% -61.33% -452.29% 0.00% -385.54% -1,226.99% -303.63% -191.08%
Net Nonoperating Expense Percent (NNEP)		 -2.25% -23.45% -20.07% -66.80% -105.73% 20.82% 35.32% 67.83% -84.56% -21.55% -16.24%
Return On Investment Capital (ROIC_SIMPLE)		 38.37% 72.24% 316.20% - - - - - - - -
Cost of Revenue to Revenue		 29.72% 34.95% 45.54% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 49.43% 47.67% 24.66% 26.03% 30.55% 184.42% 0.00% 110.50% 303.05% 85.08% 65.00%
R&D to Revenue		 57.34% 74.97% 62.33% 221.11% 157.07% 610.02% 0.00% 540.27% 1,549.79% 448.67% 307.97%
Operating Expenses to Revenue		 106.77% 122.64% 86.99% 247.13% 187.62% 746.13% 0.00% 650.78% 1,852.84% 533.75% 372.97%
Earnings before Interest and Taxes (EBIT)		 -157 -529 -634 -1,693 -403 -121 -174 -172 -269 -157 -84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -108 -487 -605 -1,681 -398 -115 -164 -160 -259 -151 -79
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 11.32 0.00 0.00 0.00 0.00 7.74 6.16
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 14.60 0.00 0.00 0.00 0.00 9.90 8.71
Price to Revenue (P/Rev)		 1.89 0.58 0.41 9.44 14.93 5.67 0.00 12.47 22.26 62.46 46.13
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 45.84 5.99 17.57 15.03 8.62 79.89 20.03
Enterprise Value to Revenue (EV/Rev)		 0.77 0.16 0.00 8.39 13.91 18.47 0.00 16.72 25.55 55.14 40.67
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 29.77 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 6.10 0.00 0.00 18.54 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -0.27 -0.23 -0.77 -0.92 0.51 -1.72 -1.90 -3.12 -57.04 0.00 0.00
Long-Term Debt to Equity		 -0.27 -0.23 -0.26 -0.92 0.51 -1.72 -1.90 -3.12 -57.04 0.00 0.00
Financial Leverage		 0.88 0.94 2.09 -6.12 -0.54 -1.31 -1.32 -1.75 -0.75 -0.83 -0.69
Leverage Ratio		 -2.50 -3.00 -4.91 15.10 3.98 -1.08 -1.89 -6.50 2.72 1.27 1.18
Compound Leverage Factor		 -2.83 -3.08 -5.06 15.28 4.13 -1.18 -2.01 -6.95 2.83 1.26 1.17
Debt to Total Capital		 -37.36% -30.61% -344.25% -1,146.40% 33.93% 238.21% 211.03% 147.09% 101.78% 0.13% 0.43%
Short-Term Debt to Total Capital		 0.00% 0.00% -227.62% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.13% 0.26%
Long-Term Debt to Total Capital		 -37.36% -30.61% -116.63% -1,146.40% 33.93% 238.21% 211.03% 147.09% 101.78% 0.00% 0.17%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 137.36% 130.61% 444.25% 1,246.40% 66.07% -138.21% -111.03% -47.09% -1.78% 99.87% 99.57%
Debt to EBITDA		 -1.57 -0.34 -0.81 -0.19 -0.81 -2.79 -1.94 -1.98 -1.22 0.00 -0.01
Net Debt to EBITDA		 7.07 0.84 1.42 0.72 1.21 -2.08 -1.32 -0.82 -0.19 1.75 2.12
Long-Term Debt to EBITDA		 -1.57 -0.34 -0.28 -0.19 -0.81 -2.79 -1.94 -1.98 -1.22 0.00 -0.01
Debt to NOPAT		 -0.97 -0.42 -1.09 -0.27 -1.10 -3.80 -2.62 -2.64 -1.68 0.00 -0.02
Net Debt to NOPAT		 4.38 1.04 1.90 1.02 1.66 -2.83 -1.78 -1.10 -0.27 2.41 2.86
Long-Term Debt to NOPAT		 -0.97 -0.42 -0.37 -0.27 -1.10 -3.80 -2.62 -2.64 -1.68 0.00 -0.01
Altman Z-Score		 -4.05 -4.37 -2.93 -1.58 2.77 -13.11 -9.95 -5.84 -4.33 11.60 15.57
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.98 0.70 0.69 0.90 2.15 3.77 2.62 2.76 4.33 3.76 5.52
Quick Ratio		 0.89 0.53 0.58 0.82 1.68 3.35 2.02 2.14 3.55 3.05 5.15
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 86 -759 -516 519 -379 -90 -139 -109 -209 -73 -50
Operating Cash Flow to CapEx		 0.00% -1,214.11% -447.32% 561.78% -77.88% 0.00% -13,471.21% -3,448.94% -1,421.65% -690.22% -927.02%
Free Cash Flow to Firm to Interest Expense		 4.27 -52.62 -25.97 24.54 -24.99 -6.58 -10.24 -7.77 -16.11 -302.18 -319.85
Operating Cash Flow to Interest Expense		 -4.35 -49.53 -20.92 15.29 -2.81 -10.04 -13.58 -10.27 -19.96 -523.20 -426.84
Operating Cash Flow Less CapEx to Interest Expense		 4.52 -53.61 -25.60 12.57 -6.42 -8.83 -13.68 -10.56 -21.36 -599.00 -472.89
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.41 0.49 0.82 0.55 0.54 0.10 0.00 0.09 0.04 0.11 0.12
Accounts Receivable Turnover		 3.36 5.18 7.38 3.20 3.53 0.00 0.00 0.00 0.00 7.38 6.51
Inventory Turnover		 8.04 8.77 39.63 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 3.07 3.28 7.62 5.65 4.97 0.94 0.00 0.82 0.42 1.39 1.80
Accounts Payable Turnover		 2.33 1.97 5.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 108.49 70.43 49.48 114.15 103.42 0.00 0.00 0.00 0.00 49.49 56.08
Days Inventory Outstanding (DIO)		 45.41 41.61 9.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 156.80 185.35 69.46 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 -2.90 -73.31 -10.77 114.15 103.42 0.00 0.00 0.00 0.00 49.49 56.08
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -1,388 -1,128 -1,490 -1,555 144 57 52 35 45 25 62
Invested Capital Turnover		 -0.54 -0.75 -1.30 -1.63 4.71 0.34 0.00 0.78 0.44 0.83 0.46
Increase / (Decrease) in Invested Capital		 -260 362 65 -1,699 87 5.10 18 -11 20 -37 -8.37
Enterprise Value (EV)		 524 159 -49 9,614 6,616 345 921 521 392 1,999 1,247
Market Capitalization		 1,288 570 807 10,817 7,099 106 704 389 342 2,264 1,414
Book Value per Share		 ($3.89) ($6.04) ($8.08) ($4.65) $9.85 ($7.00) ($0.44) ($0.32) ($0.02) $1.08 $0.96
Tangible Book Value per Share		 ($4.57) ($7.11) ($9.69) ($6.39) $7.64 ($9.13) ($0.59) ($0.52) ($0.25) $0.85 $0.68
Total Capital		 -454 -549 -143 -28 949 135 151 216 311 293 231
Total Debt		 170 168 491 323 322 321 319 318 316 0.40 1.00
Total Long-Term Debt		 170 168 166 323 322 321 319 318 316 0.00 0.40
Net Debt		 -764 -411 -856 -1,203 -483 239 216 132 51 -265 -167
Capital Expenditures (CapEx)		 -178 59 93 57 55 -16 1.37 4.19 18 18 7.23
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -959 -1,070 -1,779 -1,762 -136 -10 -29 -56 -44 -54 -14
Debt-free Net Working Capital (DFNWC)		 -25 -491 -432 -235 669 71 74 130 221 211 155
Net Working Capital (NWC)		 -25 -491 -757 -235 669 71 74 130 221 211 154
Net Nonoperating Expense (NNE)		 13 149 207 563 127 48 63 64 92 47 24
Net Nonoperating Obligations (NNO)		 -764 -411 -856 -1,203 -483 244 220 136 51 -268 -167
Total Depreciation and Amortization (D&A)		 48 41 29 13 4.89 5.68 9.58 11 9.81 5.98 4.84
Debt-free, Cash-free Net Working Capital to Revenue		 -140.61% -108.79% -89.76% -153.70% -28.68% -55.29% 0.00% -179.31% -288.99% -150.24% -44.71%
Debt-free Net Working Capital to Revenue		 -3.73% -49.94% -21.78% -20.52% 140.57% 382.87% 0.00% 415.82% 1,442.22% 582.50% 504.40%
Net Working Capital to Revenue		 -3.73% -49.94% -38.17% -20.52% 140.57% 382.87% 0.00% 415.82% 1,442.22% 581.42% 502.44%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.23) ($5.41) ($8.42) ($23.44) ($7.27) ($5.51) ($10.00) ($12.60) ($20.60) ($12.00) ($7.40)
Adjusted Weighted Average Basic Shares Outstanding		 152.19M 100.77M 78.18M 74.40M 73.86M 51.53M 22.07M 17.19M 13.60M 13.52M 11.97M
Adjusted Diluted Earnings per Share		 ($1.23) ($5.41) ($8.42) ($23.44) ($7.27) ($5.51) ($10.00) ($12.60) ($20.60) ($12.00) ($7.40)
Adjusted Weighted Average Diluted Shares Outstanding		 152.19M 100.77M 78.18M 74.40M 73.86M 51.53M 22.07M 17.19M 13.60M 13.52M 11.97M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($7.27) ($5.51) ($10.00) ($12.60) ($20.60) ($12.00) ($7.40)
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 160.84M 139.95M 86.17M 76.28M 57.55M 24.10M 18.49M 14.63M 13.54M 13.11M 11.29M
Normalized Net Operating Profit after Tax (NOPAT)		 -174 -397 -451 -1,181 -292 -91 -122 -120 -188 -110 -59
Normalized NOPAT Margin		 -25.54% -40.31% -22.77% -102.99% -61.33% -486.11% 0.00% -385.54% -1,226.99% -303.63% -191.08%
Pre Tax Income Margin		 -25.89% -55.20% -32.98% -149.57% -87.94% -711.04% 0.00% -589.46% -1,823.53% -432.93% -270.55%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -7.80 -36.67 -31.88 -80.15 -26.62 -8.86 -12.77 -12.20 -20.76 -652.93 -533.06
NOPAT to Interest Expense		 -8.68 -27.51 -22.70 -55.88 -19.26 -6.20 -8.94 -8.54 -14.53 -456.70 -373.14
EBIT Less CapEx to Interest Expense		 1.07 -40.75 -36.56 -82.87 -30.22 -7.65 -12.87 -12.50 -22.16 -728.73 -579.11
NOPAT Less CapEx to Interest Expense		 0.19 -31.59 -27.38 -58.60 -22.87 -4.99 -9.04 -8.84 -15.93 -532.50 -419.19
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -0.66% -0.80% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Novavax

This table displays calculated financial ratios and metrics derived from Novavax's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 610.30% -69.69% -54.80% -2.11% 15.94% -18.48% -74.55% 128.28% -88.50% 60.85% 310.74%
EBITDA Growth		 513.79% 66.95% 10.14% 153.13% 53.81% 6.31% 23.65% 114.32% -228.32% 78.96% 49.95%
EBIT Growth		 472.28% 61.76% 8.18% 176.65% 51.05% 4.07% 20.59% 112.13% -236.72% 78.18% 47.95%
NOPAT Growth		 607.31% 28.59% -6.68% 185.72% 53.69% 24.73% 1.22% 116.44% -205.98% 70.44% 58.59%
Net Income Growth		 451.51% 54.58% 7.25% 179.93% 49.80% 2.12% 22.44% 111.36% -244.49% 78.46% 47.71%
EPS Growth		 379.05% 68.94% 39.68% 70.69% 69.21% 42.61% 41.40% 108.88% -233.20% 0.00% 0.00%
Operating Cash Flow Growth		 -122.01% 2.05% -265.18% 282.78% 74.34% -50.05% -2.45% -0.61% -267.86% 65.59% 72.77%
Free Cash Flow Firm Growth		 89.96% 134.31% 102.50% 218.38% -471.50% -108.21% -259.39% -470.92% -106.61% -121.01% -72.02%
Invested Capital Growth		 45.56% -23.06% -8.96% -19.88% 12.78% 24.30% 23.53% 25.37% -14.30% 4.17% -31.87%
Revenue Q/Q Growth		 654.89% 4.50% -79.66% 342.69% -67.79% 55.81% -55.94% 424.30% -77.35% -51.35% 295.09%
EBITDA Q/Q Growth		 1,098.35% 49.26% -158.60% 239.39% 20.25% -37.94% -265.07% 125.44% -61.78% -12.41% 69.03%
EBIT Q/Q Growth		 896.36% 44.12% -169.99% 219.52% 18.20% -34.19% -310.88% 121.15% -60.31% -11.07% 67.79%
NOPAT Q/Q Growth		 660.53% 2.19% -159.06% 256.68% 21.10% -46.12% -258.19% 125.39% -28.25% -91.75% 73.66%
Net Income Q/Q Growth		 740.07% 33.20% -174.70% 210.05% 17.29% -36.41% -325.44% 119.74% -61.27% -8.09% 66.97%
EPS Q/Q Growth		 814.63% 46.05% -176.77% 194.29% 20.45% -4.76% -317.24% 117.01% -48.26% -6.98% 67.08%
Operating Cash Flow Q/Q Growth		 -7.13% -19.58% -146.08% 476.12% 52.74% -345.80% 76.94% 47.19% -176.36% -204.37% 77.35%
Free Cash Flow Firm Q/Q Growth		 -116.45% 1,401.33% -97.04% 237.19% 43.80% -9.37% -40.39% -562.31% 79.53% -183.73% 226.69%
Invested Capital Q/Q Growth		 53.33% -8.66% 3.45% -11.20% -5.48% 3.79% -6.22% 19.10% 8.45% 2.80% -3.66%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 97.88% 58.48% 28.27% 88.87% 36.91% 46.81% 47.09% 86.86% 57.89% 49.14% 40.84%
EBITDA Margin		 80.09% -60.56% -124.71% 43.29% -137.48% -55.53% -62.73% 16.74% -345.10% -48.32% -20.91%
Operating Margin		 77.33% -148.43% -158.58% 38.75% -154.31% -63.01% -67.19% 13.07% -386.37% -68.24% -17.31%
EBIT Margin		 78.84% -74.73% -139.74% 40.61% -150.42% -59.24% -68.78% 14.37% -356.27% -50.34% -22.05%
Profit (Net Income) Margin		 77.80% -91.76% -143.53% 39.08% -157.21% -61.23% -69.94% 13.67% -363.07% -50.99% -22.95%
Tax Burden Percent		 99.77% 110.12% 99.16% 98.66% 101.56% 100.96% 99.47% 100.25% 100.40% 98.78% 101.49%
Interest Burden Percent		 98.91% 111.49% 103.59% 97.54% 102.91% 102.39% 102.22% 94.88% 101.50% 102.56% 102.57%
Effective Tax Rate		 0.23% 0.00% 0.00% 1.34% 0.00% 0.00% 0.00% -0.25% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -101.56% 27.97% 47.29% 49.63% 45.24% 80.69% 88.23% 100.17% 278.29% 133.49% 2,526.49%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 74.77% -30.36% -73.42% 22.90% -103.52% -28.73% -36.80% 10.66% -221.18% -41.26% -16.85%
Return on Assets (ROA)		 73.78% -37.28% -75.41% 22.03% -108.19% -29.70% -37.41% 10.14% -225.40% -41.80% -17.54%
Return on Common Equity (ROCE)		 -101.56% 27.97% 47.29% 49.63% 45.24% 80.69% 88.23% 100.17% 278.29% 133.49% 2,526.49%
Return on Equity Simple (ROE_SIMPLE)		 -632.84% 0.00% 54.11% 68.18% 45.98% 0.00% 80.92% 77.77% 128.99% 0.00% 233.57%
Net Operating Profit after Tax (NOPAT)		 514 -92 -94 159 -101 -128 -88 56 -219 -171 -89
NOPAT Margin		 77.15% -103.90% -111.01% 38.23% -108.02% -44.11% -47.03% 13.10% -270.46% -47.77% -12.12%
Net Nonoperating Expense Percent (NNEP)		 0.97% 1.83% -4.42% 0.57% -11.67% -7.88% -5.86% 0.34% -8.68% -1.12% -6.14%
Return On Investment Capital (ROIC_SIMPLE)		 544.36% 20.20% - - - 23.41% - - - 119.61% -
Cost of Revenue to Revenue		 2.12% 41.52% 71.73% 11.13% 63.09% 53.19% 52.91% 13.14% 42.11% 50.86% 59.16%
SG&A Expenses to Revenue		 7.21% 88.71% 83.71% 24.38% 92.48% 53.28% 57.47% 22.08% 139.01% 45.23% 16.73%
R&D to Revenue		 13.34% 118.20% 103.14% 25.74% 98.75% 56.53% 56.81% 51.71% 305.25% 72.15% 41.42%
Operating Expenses to Revenue		 20.55% 206.91% 186.85% 50.12% 191.23% 109.81% 114.28% 73.79% 444.26% 117.38% 58.15%
Earnings before Interest and Taxes (EBIT)		 526 -66 -118 169 -141 -173 -129 61 -288 -180 -162
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 534 -53 -105 180 -129 -162 -117 71 -279 -173 -154
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.82 1.89 2.28 1.80 0.57 0.58 0.65 0.40 0.44 0.41 0.77
Price to Earnings (P/E)		 2.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 46.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.37 0.77 1.44 0.90 0.25 0.16 0.18 0.18 0.09 0.00 0.25
Enterprise Value to EBITDA (EV/EBITDA)		 0.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.90 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 1.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 62.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 6.10 0.00 62.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -2.25 -0.27 -0.32 -0.39 -0.19 -0.23 -0.25 -0.22 -0.19 -0.77 -0.57
Long-Term Debt to Equity		 -2.25 -0.27 -0.32 -0.39 -0.19 -0.23 -0.25 -0.22 -0.19 -0.26 0.00
Financial Leverage		 0.95 0.88 1.03 1.05 0.45 0.94 1.17 1.20 2.08 2.09 24.75
Leverage Ratio		 -2.81 -2.50 -2.80 -2.95 -1.64 -3.00 -3.15 -3.68 -5.27 -4.91 -46.19
Compound Leverage Factor		 -2.78 -2.79 -2.90 -2.88 -1.69 -3.07 -3.22 -3.49 -5.35 -5.03 -47.38
Debt to Total Capital		 180.06% -37.36% -47.39% -64.24% -24.11% -30.61% -32.82% -28.48% -22.90% -344.25% -134.40%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -227.62% -134.40%
Long-Term Debt to Total Capital		 180.06% -37.36% -47.39% -64.24% -24.11% -30.61% -32.82% -28.48% -22.90% -116.63% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -80.06% 137.36% 147.39% 164.24% 124.11% 130.61% 132.82% 128.48% 122.90% 444.25% 234.40%
Debt to EBITDA		 0.31 -1.57 -0.78 -0.74 -0.50 -0.34 -0.34 -0.31 -0.15 -0.81 -0.26
Net Debt to EBITDA		 -1.03 7.07 3.47 3.90 0.96 0.84 0.99 0.65 0.43 1.42 0.77
Long-Term Debt to EBITDA		 0.31 -1.57 -0.78 -0.74 -0.50 -0.34 -0.34 -0.31 -0.15 -0.28 0.00
Debt to NOPAT		 0.42 -0.97 -0.80 -0.82 -0.60 -0.42 -0.38 -0.38 -0.20 -1.09 -0.38
Net Debt to NOPAT		 -1.42 4.38 3.56 4.34 1.16 1.04 1.13 0.79 0.57 1.90 1.13
Long-Term Debt to NOPAT		 0.42 -0.97 -0.80 -0.82 -0.60 -0.42 -0.38 -0.38 -0.20 -0.37 0.00
Altman Z-Score		 -1.68 -3.86 -3.25 -2.35 -4.66 -3.72 -3.70 -2.86 -4.47 -2.27 -1.60
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.06 0.98 0.93 1.04 0.90 0.70 0.69 0.71 0.51 0.69 1.06
Quick Ratio		 1.84 0.89 0.85 0.93 0.62 0.53 0.53 0.56 0.38 0.58 0.83
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -28 168 11 378 -276 -491 -449 -320 -48 -236 281
Operating Cash Flow to CapEx		 -11,630.22% -7,689.30% -7,197.51% 10,056.61% -1,152.48% -1,947.36% -215.62% -2,210.28% -1,382.09% -533.97% -131.13%
Free Cash Flow to Firm to Interest Expense		 -4.84 22.19 2.65 91.30 -67.06 -119.16 -156.89 -102.27 -11.18 -51.21 67.50
Operating Cash Flow to Interest Expense		 -32.41 -22.83 -34.19 75.86 -20.32 -42.94 -13.87 -55.04 -75.44 -25.61 -9.28
Operating Cash Flow Less CapEx to Interest Expense		 -32.69 -23.13 -34.66 75.10 -22.09 -45.14 -20.30 -57.53 -80.90 -30.40 -16.37
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.95 0.41 0.53 0.56 0.69 0.49 0.54 0.74 0.62 0.82 0.76
Accounts Receivable Turnover		 38.09 3.36 8.10 4.63 14.85 5.18 8.92 5.42 4.60 7.38 16.67
Inventory Turnover		 12.11 8.04 8.21 22.01 14.77 8.77 4.88 5.05 13.09 39.63 0.00
Fixed Asset Turnover		 5.91 3.07 3.02 3.36 3.33 3.28 3.77 5.76 4.90 7.62 7.85
Accounts Payable Turnover		 3.43 2.33 4.03 4.30 4.04 1.97 3.00 2.98 7.09 5.25 7.05
Days Sales Outstanding (DSO)		 9.58 108.49 45.07 78.90 24.58 70.43 40.91 67.34 79.37 49.48 21.90
Days Inventory Outstanding (DIO)		 30.15 45.41 44.47 16.59 24.72 41.61 74.87 72.30 27.89 9.21 0.00
Days Payable Outstanding (DPO)		 106.37 156.80 90.63 84.92 90.30 185.35 121.60 122.42 51.48 69.46 51.79
Cash Conversion Cycle (CCC)		 -66.64 -2.90 -1.09 10.57 -41.00 -73.31 -5.83 17.22 55.79 -10.77 -29.89
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -648 -1,388 -1,277 -1,323 -1,190 -1,128 -1,172 -1,104 -1,364 -1,490 -1,533
Invested Capital Turnover		 -1.37 -0.54 -0.72 -0.81 -0.78 -0.75 -0.78 -1.24 -1.06 -1.30 -1.37
Increase / (Decrease) in Invested Capital		 542 -260 -105 -219 174 362 361 375 -171 65 -370
Enterprise Value (EV)		 459 524 1,271 886 245 159 190 292 129 -49 457
Market Capitalization		 1,031 1,288 2,022 1,778 568 570 683 641 597 807 1,424
Book Value per Share		 ($0.47) ($3.89) ($3.29) ($3.07) ($6.20) ($6.04) ($7.19) ($8.74) ($10.39) ($8.08) ($7.24)
Tangible Book Value per Share		 ($1.17) ($4.57) ($4.08) ($3.95) ($7.08) ($7.11) ($8.50) ($10.23) ($11.90) ($9.69) ($8.85)
Total Capital		 94 -454 -357 -263 -699 -549 -511 -587 -729 -143 -241
Total Debt		 170 170 169 169 168 168 168 167 167 491 325
Total Long-Term Debt		 170 170 169 169 168 168 168 167 167 166 0.00
Net Debt		 -572 -764 -751 -891 -323 -411 -494 -349 -468 -856 -967
Capital Expenditures (CapEx)		 1.60 2.25 2.01 3.13 7.25 9.08 18 7.78 24 22 30
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -296 -959 -997 -1,015 -568 -1,070 -1,123 -985 -1,583 -1,779 -875
Debt-free Net Working Capital (DFNWC)		 446 -25 -77 46 -77 -491 -462 -469 -948 -432 417
Net Working Capital (NWC)		 446 -25 -77 46 -77 -491 -462 -469 -948 -757 92
Net Nonoperating Expense (NNE)		 -4.32 -11 27 -3.54 46 50 43 -2.41 75 12 80
Net Nonoperating Obligations (NNO)		 -572 -764 -751 -891 -323 -411 -494 -349 -468 -856 -967
Total Depreciation and Amortization (D&A)		 8.34 13 13 11 12 11 11 10 9.04 7.22 8.35
Debt-free, Cash-free Net Working Capital to Revenue		 -23.61% -140.61% -112.68% -102.72% -57.02% -108.79% -107.01% -61.66% -116.50% -89.76% -47.37%
Debt-free Net Working Capital to Revenue		 35.53% -3.73% -8.73% 4.61% -7.75% -49.94% -43.99% -29.34% -69.75% -21.78% 22.56%
Net Working Capital to Revenue		 35.53% -3.73% -8.73% 4.61% -7.75% -49.94% -43.99% -29.34% -69.75% -38.17% 4.98%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.22 ($0.51) ($0.76) $1.09 ($1.05) ($1.39) ($1.26) $0.65 ($3.41) ($2.40) ($2.15)
Adjusted Weighted Average Basic Shares Outstanding		 161.05M 152.19M 160.05M 148.38M 139.92M 100.77M 103.43M 89.36M 86.16M 78.18M 78.27M
Adjusted Diluted Earnings per Share		 $2.93 ($0.41) ($0.76) $0.99 ($1.05) ($1.32) ($1.26) $0.58 ($3.41) ($2.30) $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 177.63M 152.19M 160.05M 165.86M 139.92M 100.77M 103.43M 104.07M 86.16M 78.18M 78.50M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 161.97M 160.84M 160.18M 160.09M 140.40M 139.95M 118.79M 94.40M 86.31M 86.17M 78.50M
Normalized Net Operating Profit after Tax (NOPAT)		 514 -92 -94 159 -101 -128 -88 39 -219 -171 -89
Normalized NOPAT Margin		 77.15% -103.90% -111.01% 38.23% -108.02% -44.11% -47.03% 9.15% -270.46% -47.77% -12.12%
Pre Tax Income Margin		 77.98% -83.32% -144.75% 39.61% -154.80% -60.65% -70.31% 13.63% -361.60% -51.63% -22.62%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 91.83 -8.70 -27.88 40.73 -34.34 -41.92 -44.99 19.52 -66.82 -39.10 -38.85
NOPAT to Interest Expense		 89.87 -12.10 -22.15 38.34 -24.66 -31.21 -30.76 17.80 -50.73 -37.10 -21.36
EBIT Less CapEx to Interest Expense		 91.56 -9.00 -28.35 39.97 -36.10 -44.12 -51.42 17.03 -72.28 -43.90 -45.93
NOPAT Less CapEx to Interest Expense		 89.59 -12.39 -22.62 37.59 -26.42 -33.42 -37.19 15.31 -56.19 -41.90 -28.44
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -0.66% -1.61% -1.51% -0.77% -0.80% 0.00%

Frequently Asked Questions About Novavax's Financials

When does Novavax's financial year end?

According to the most recent income statement we have on file, Novavax's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Novavax's net income changed over the last 10 years?

Novavax's net income appears to be on an upward trend, with a most recent value of -$187.50 million in 2024, rising from -$82.95 million in 2014. The previous period was -$545.06 million in 2023. Check out Novavax's forecast to explore projected trends and price targets.

What is Novavax's operating income?
Novavax's total operating income in 2024 was -$248.93 million, based on the following breakdown:
  • Total Gross Profit: $479.42 million
  • Total Operating Expenses: $728.35 million
How has Novavax revenue changed over the last 10 years?

Over the last 10 years, Novavax's total revenue changed from $30.66 million in 2014 to $682.16 million in 2024, a change of 2,125.0%.

How much debt does Novavax have?

Novavax's total liabilities were at $2.18 billion at the end of 2024, a 13.1% decrease from 2023, and a 4,609.1% increase since 2014.

How much cash does Novavax have?

In the past 10 years, Novavax's cash and equivalents has ranged from $32.34 million in 2014 to $1.52 billion in 2021, and is currently $530.23 million as of their latest financial filing in 2024.

How has Novavax's book value per share changed over the last 10 years?

Over the last 10 years, Novavax's book value per share changed from 0.96 in 2014 to -3.89 in 2024, a change of -504.5%.


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This page (NASDAQ:NVAX) was last updated on 5/22/2025 by MarketBeat.com Staff
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