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NOTE vs GOVX vs CSGP vs NVAX vs MRNA
Revenue, margins, valuation, and 5-year total return — side by side.
Biotechnology
Real Estate - Services
Biotechnology
Biotechnology
NOTE vs GOVX vs CSGP vs NVAX vs MRNA — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | |||||
|---|---|---|---|---|---|
| Industry | Information Technology Services | Biotechnology | Real Estate - Services | Biotechnology | Biotechnology |
| Market Cap | $3M | $2M | $13.89B | $1.66B | $21.55B |
| Revenue (TTM) | $88M | $2M | $3.41B | $596M | $2.23B |
| Net Income (TTM) | $-105M | $-21M | $25M | $-88M | $-3.19B |
| Gross Margin | 69.9% | 100.0% | 77.4% | 84.6% | -13.9% |
| Operating Margin | -74.9% | -8.7% | -0.8% | -11.2% | -153.3% |
| Forward P/E | — | — | 24.1x | 4.0x | — |
| Total Debt | $173M | $843.17B | $1.14B | $249M | $1.92B |
| Cash & Equiv. | $29M | $6M | $1.73B | $241M | $2.60B |
NOTE vs GOVX vs CSGP vs NVAX vs MRNA — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | Dec 20 | May 26 | Return |
|---|---|---|---|
| FiscalNote Holdings… (NOTE) | 100 | 0.2 | -99.8% |
| GeoVax Labs, Inc. (GOVX) | 100 | 3.3 | -96.7% |
| CoStar Group, Inc. (CSGP) | 100 | 35.5 | -64.5% |
| Novavax, Inc. (NVAX) | 100 | 9.1 | -90.9% |
| Moderna, Inc. (MRNA) | 100 | 52.0 | -48.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: NOTE vs GOVX vs CSGP vs NVAX vs MRNA
Each card shows where this stock fits in a portfolio — not just who wins on paper.
NOTE lags the leaders in this set but could rank higher in a more targeted comparison.
Among these 5 stocks, GOVX doesn't own a clear edge in any measured category.
CSGP carries the broadest edge in this set and is the clearest fit for sleep-well-at-night and defensive.
- Lower volatility, beta 0.69, Low D/E 13.7%, current ratio 2.84x
- Beta 0.69, current ratio 2.84x
- 0.7% margin vs GOVX's -8.6%
- Beta 0.69 vs NOTE's 2.66
NVAX is the #2 pick in this set and the best alternative if income & stability and growth exposure is your priority.
- Dividend streak 1 yrs, beta 2.22
- Rev growth 64.7%, EPS growth 306.5%, 3Y rev CAGR -11.1%
- 64.7% revenue growth vs MRNA's -39.2%
- Better valuation composite
MRNA ranks third and is worth considering specifically for long-term compounding.
- 192.2% 10Y total return vs CSGP's 66.3%
- +122.9% vs NOTE's -97.5%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 64.7% revenue growth vs MRNA's -39.2% | |
| Value | Better valuation composite | |
| Quality / Margins | 0.7% margin vs GOVX's -8.6% | |
| Stability / Safety | Beta 0.69 vs NOTE's 2.66 | |
| Dividends | Tie | None of these 5 stocks pay a meaningful dividend |
| Momentum (1Y) | +122.9% vs NOTE's -97.5% | |
| Efficiency (ROA) | 0.2% ROA vs NOTE's -40.6%, ROIC -0.9% vs -0.1% |
NOTE vs GOVX vs CSGP vs NVAX vs MRNA — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
NOTE vs GOVX vs CSGP vs NVAX vs MRNA — Financial Metrics
Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
CSGP leads in 2 of 6 categories
NOTE leads 1 • NVAX leads 1 • GOVX leads 0 • MRNA leads 0 • 2 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
CSGP leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
CSGP is the larger business by revenue, generating $3.4B annually — 1370.7x GOVX's $2M. CSGP is the more profitable business, keeping 0.7% of every revenue dollar as net income compared to GOVX's -8.6%. On growth, MRNA holds the edge at +2.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | |||||
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $88M | $2M | $3.4B | $596M | $2.2B |
| EBITDAEarnings before interest/tax | -$54M | -$22M | $278M | -$47M | -$3.2B |
| Net IncomeAfter-tax profit | -$105M | -$21M | $25M | -$88M | -$3.2B |
| Free Cash FlowCash after capex | -$19M | -$21M | $241M | -$97M | -$1.6B |
| Gross MarginGross profit ÷ Revenue | +69.9% | +100.0% | +77.4% | +84.6% | -13.9% |
| Operating MarginEBIT ÷ Revenue | -74.9% | -8.7% | -0.8% | -11.2% | -153.3% |
| Net MarginNet income ÷ Revenue | -119.0% | -8.6% | +0.7% | -14.7% | -143.6% |
| FCF MarginFCF ÷ Revenue | -21.2% | -8.6% | +7.1% | -16.3% | -71.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | -27.2% | -100.0% | +22.5% | -79.1% | +2.6% |
| EPS Growth (YoY)Latest quarter vs prior year | -6.0% | +86.9% | +127.7% | -102.0% | -34.9% |
Valuation Metrics
NOTE leads this category, winning 2 of 4 comparable metrics.
Valuation Metrics
At 4.0x trailing earnings, NVAX trades at a 100% valuation discount to CSGP's 1974.1x P/E. On an enterprise value basis, NVAX's 2.8x EV/EBITDA is more attractive than CSGP's 78.2x.
| Metric | |||||
|---|---|---|---|---|---|
| Market CapShares × price | $3M | $2M | $13.9B | $1.7B | $21.6B |
| Enterprise ValueMkt cap + debt − cash | $147M | $843.2B | $13.3B | $1.7B | $20.9B |
| Trailing P/EPrice ÷ TTM EPS | -0.04x | -0.07x | 1974.10x | 3.98x | -7.49x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — | 24.05x | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — | — |
| EV / EBITDAEnterprise value multiple | — | — | 78.23x | 2.83x | — |
| Price / SalesMarket cap ÷ Revenue | 0.03x | 0.64x | 4.28x | 1.48x | 11.09x |
| Price / BookPrice ÷ Book value/share | 0.00x | 0.00x | 1.65x | — | 2.44x |
| Price / FCFMarket cap ÷ FCF | — | — | 338.75x | — | — |
Profitability & Efficiency
CSGP leads this category, winning 4 of 9 comparable metrics.
Profitability & Efficiency
CSGP delivers a 0.3% return on equity — every $100 of shareholder capital generates $0 in annual profit, vs $-161 for NOTE. NOTE carries lower financial leverage with a 0.00x debt-to-equity ratio, signaling a more conservative balance sheet compared to MRNA's 0.22x. On the Piotroski fundamental quality scale (0–9), CSGP scores 5/9 vs NOTE's 2/9, reflecting solid financial health.
| Metric | |||||
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | -160.9% | -0.0% | +0.3% | — | -36.7% |
| ROA (TTM)Return on assets | -40.6% | -0.0% | +0.2% | -7.4% | -26.6% |
| ROICReturn on invested capital | -0.1% | -0.0% | -0.9% | — | -26.1% |
| ROCEReturn on capital employed | -0.0% | -0.0% | -0.8% | +100.4% | -27.6% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 4 | 5 | 5 | 3 |
| Debt / EquityFinancial leverage | 0.00x | 0.22x | 0.14x | — | 0.22x |
| Net DebtTotal debt minus cash | $144M | $843.2B | -$589M | $8M | -$679M |
| Cash & Equiv.Liquid assets | $29M | $6M | $1.7B | $241M | $2.6B |
| Total DebtShort + long-term debt | $173M | $843.2B | $1.1B | $249M | $1.9B |
| Interest CoverageEBIT ÷ Interest expense | -2.58x | — | 1.58x | -6.40x | -1803.00x |
Total Returns (Dividends Reinvested)
Evenly matched — NVAX and MRNA each lead in 2 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in CSGP five years ago would be worth $3,903 today (with dividends reinvested), compared to $16 for NOTE. Over the past 12 months, MRNA leads with a +122.9% total return vs NOTE's -97.5%. The 3-year compound annual growth rate (CAGR) favors NVAX at 10.7% vs NOTE's -78.8% — a key indicator of consistent wealth creation.
| Metric | |||||
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | -88.1% | +706.8% | -50.1% | +41.8% | +76.1% |
| 1-Year ReturnPast 12 months | -97.5% | +72.2% | -56.8% | +51.8% | +122.9% |
| 3-Year ReturnCumulative with dividends | -99.0% | -83.3% | -55.9% | +35.7% | -58.7% |
| 5-Year ReturnCumulative with dividends | -99.8% | -98.0% | -61.0% | -93.7% | -65.7% |
| 10-Year ReturnCumulative with dividends | -99.8% | -96.2% | +66.3% | -89.4% | +192.2% |
| CAGR (3Y)Annualised 3-year return | -78.8% | -44.9% | -23.9% | +10.7% | -25.6% |
Risk & Volatility
Evenly matched — CSGP and MRNA each lead in 1 of 2 comparable metrics.
Risk & Volatility
CSGP is the less volatile stock with a 0.69 beta — it tends to amplify market swings less than NOTE's 2.66 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MRNA currently trades 91.3% from its 52-week high vs NOTE's 1.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | |||||
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.66x | 2.27x | 0.69x | 2.22x | 1.81x |
| 52-Week HighHighest price in past year | $10.20 | $4.40 | $97.43 | $11.97 | $59.55 |
| 52-Week LowLowest price in past year | $0.15 | $0.12 | $32.71 | $5.80 | $22.28 |
| % of 52W HighCurrent price vs 52-week peak | +1.9% | +38.0% | +33.6% | +84.5% | +91.3% |
| RSI (14)Momentum oscillator 0–100 | 28.7 | 71.1 | 36.3 | 61.8 | 46.3 |
| Avg Volume (50D)Average daily shares traded | 490K | 227K | 5.9M | 4.2M | 7.2M |
Analyst Outlook
NVAX leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Analyst consensus: CSGP as "Buy", NVAX as "Buy", MRNA as "Hold". Consensus price targets imply 86.7% upside for CSGP (target: $61) vs -28.2% for MRNA (target: $39).
| Metric | |||||
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | — | Buy | Buy | Hold |
| Price TargetConsensus 12-month target | — | — | $61.18 | $18.00 | $39.00 |
| # AnalystsCovering analysts | — | — | 25 | 23 | 27 |
| Dividend YieldAnnual dividend ÷ price | — | — | — | — | — |
| Dividend StreakConsecutive years of raises | — | — | — | 1 | 0 |
| Dividend / ShareAnnual DPS | — | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | +4.1% | +0.3% | 0.0% |
CSGP leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). NOTE leads in 1 (Valuation Metrics). 2 tied.
NOTE vs GOVX vs CSGP vs NVAX vs MRNA: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is NOTE or GOVX or CSGP or NVAX or MRNA a better buy right now?
For growth investors, Novavax, Inc.
(NVAX) is the stronger pick with 64. 7% revenue growth year-over-year, versus -39. 2% for Moderna, Inc. (MRNA). Novavax, Inc. (NVAX) offers the better valuation at 4. 0x trailing P/E, making it the more compelling value choice. Analysts rate CoStar Group, Inc. (CSGP) a "Buy" — based on 25 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — NOTE or GOVX or CSGP or NVAX or MRNA?
On trailing P/E, Novavax, Inc.
(NVAX) is the cheapest at 4. 0x versus CoStar Group, Inc. at 1974. 1x.
03Which is the better long-term investment — NOTE or GOVX or CSGP or NVAX or MRNA?
Over the past 5 years, CoStar Group, Inc.
(CSGP) delivered a total return of -61. 0%, compared to -99. 8% for FiscalNote Holdings, Inc. (NOTE). Over 10 years, the gap is even starker: MRNA returned +192. 2% versus NOTE's -99. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — NOTE or GOVX or CSGP or NVAX or MRNA?
By beta (market sensitivity over 5 years), CoStar Group, Inc.
(CSGP) is the lower-risk stock at 0. 69β versus FiscalNote Holdings, Inc. 's 2. 66β — meaning NOTE is approximately 287% more volatile than CSGP relative to the S&P 500. On balance sheet safety, FiscalNote Holdings, Inc. (NOTE) carries a lower debt/equity ratio of 0% versus 22% for Moderna, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — NOTE or GOVX or CSGP or NVAX or MRNA?
By revenue growth (latest reported year), Novavax, Inc.
(NVAX) is pulling ahead at 64. 7% versus -39. 2% for Moderna, Inc. (MRNA). On earnings-per-share growth, the picture is similar: Novavax, Inc. grew EPS 306. 5% year-over-year, compared to -660. 2% for FiscalNote Holdings, Inc.. Over a 3-year CAGR, GOVX leads at 212. 5% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — NOTE or GOVX or CSGP or NVAX or MRNA?
Novavax, Inc.
(NVAX) is the more profitable company, earning 39. 2% net margin versus -862. 3% for GeoVax Labs, Inc. — meaning it keeps 39. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NVAX leads at 50. 1% versus -869. 3% for GOVX. At the gross margin level — before operating expenses — GOVX leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is NOTE or GOVX or CSGP or NVAX or MRNA more undervalued right now?
Analyst consensus price targets imply the most upside for CSGP: 86.
7% to $61. 18.
08Which pays a better dividend — NOTE or GOVX or CSGP or NVAX or MRNA?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is NOTE or GOVX or CSGP or NVAX or MRNA better for a retirement portfolio?
For long-horizon retirement investors, CoStar Group, Inc.
(CSGP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 69)). FiscalNote Holdings, Inc. (NOTE) carries a higher beta of 2. 66 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (CSGP: +66. 3%, NOTE: -99. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between NOTE and GOVX and CSGP and NVAX and MRNA?
These companies operate in different sectors (NOTE (Technology) and GOVX (Healthcare) and CSGP (Real Estate) and NVAX (Healthcare) and MRNA (Healthcare)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: NOTE is a small-cap quality compounder stock; GOVX is a small-cap quality compounder stock; CSGP is a mid-cap high-growth stock; NVAX is a small-cap high-growth stock; MRNA is a mid-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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