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CVACCureVac N.V.
$4.66$1.0B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
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CVAC logo

CureVac N.V.

CVAC
NASDAQ · Biotechnology
$4.66
At close - Jun 20, 4:00 PM EDT - USD
Market Cap$1.05B
P/E6.5x
52W High$5.55
Volume-
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2025Q2

Milestone Dependence Masks Persistent mRNA Operational Losses

CureVac's reliance on lumpy, non-recurring milestone payments creates significant revenue volatility, as evidenced by a 91.4% year-over-year revenue decline in 2025Q2. While the company maintains a conservative debt-to-equity ratio of 0.06, the lack of a susta...

GrowthContracting
ProfitabilityNegative
ValuationReview
TechnicalsWeak
Explore valuation models
MARKET ACTION

CVAC price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

4/12 Beats

EPS beat 4 of last 12 quarters

02

Valuation risk

-79% Peers

P/E is 79% below peer median

03

Market leadership

RS 35 · Lag

Laggard (Underperforming 65% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Feb 24

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
CVAC-0.21%
S&P 500 (^GSPC)+12.39%
1-Year Return
CVAC-13.06%
S&P 500 (^GSPC)+15.77%
3-Year Return
CVAC-37.20%
S&P 500 (^GSPC)+78.82%
5-Year Return
CVAC-91.94%
S&P 500 (^GSPC)+69.05%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
6.5x
Forward P/E
N/A
EV/EBITDA100th %ile
3.1x
FCF YieldCash Flow
7.9%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
6.5x
4.7x
100th· High
EV/EBITDA
3.1x
1.7x
100th· High
Price/FCF
12.6x
22.6x
50th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$24.22+419.7%
Base (Fair)$32.14+589.7%
Bull$45.53+877.0%
$24.22 Bear$32.14 Base$45.53 Bull
Current Market Price: $4.66
Trades at a 85.5% discount to Base DCF ($32.14)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$535M+895.5% YoY
Net income
$162M+162.3% YoY
Free cash flow
$83M+125.8% YoY
Operating margin
33.2%+543.3 pts YoY
ROIC (TTM)65%
Avg ROIC 5Y-
ROE (TTM)26.7%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate4/12 (33%)
Revenue Beat Rate4/12 (36%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2025Latest
Nov 24, 2025
-$0.10+41.2%
vs -$0.17
$573M
vs —
Q3 2025
Aug 15, 2025
-$0.30-66.7%
vs -$0.18
$1M-62.7%
vs $4M
Q2 2025
May 20, 2025
-$0.24-50.0%
vs -$0.16
$978,951-79.7%
vs $5M
Q2 2025
Apr 10, 2025
-$0.15+31.8%
vs -$0.22
$15M+122.7%
vs $7M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
04

Compare before deciding

Benchmark CVAC against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for CureVac N.V. (CVAC)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CVAC logoCVACCureVac N.V.Current
$4.66$1.05B6.47895.54%30.3%26.73%—
MRNA logoMRNAModerna, Inc.
$182.11$72.26B-25.08-39.23%-141.43%-39.2%—
BNTX logoBNTXBioNTech SE
$98.46$24.73B-19.180.2%-64.02%-9.13%—
ARCT logoARCTArcturus Therapeutics Holdings Inc.
$13.30$378.03M-5.54-51.43%-391.9%-46.54%—
NTLA logoNTLAIntellia Therapeutics, Inc.
$12.33$1.38B-3.2416.92%-672.16%-57.79%—
BEAM logoBEAMBeam Therapeutics Inc.
$24.37$2.51B-30.09120.01%-54.75%-7.7%—

Compare CVAC vs Peers

CureVac N.V. (CVAC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MRNA

Most directly comparable listed peer for CVAC.

Scale Benchmark

vs JNJ

Larger-name benchmark to compare CVAC against a more recognizable public peer.

Peer Set

Compare Top 5

vs MRNA, BNTX, ARCT, NTLA

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CVAC Frequently Asked Questions

CureVac N.V. (CVAC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is CureVac N.V.'s revenue?

CureVac N.V. (CVAC) reported $510.5M in revenue for fiscal year 2024. This represents a 3866% increase from $12.9M in 2018.

How fast is CureVac N.V. growing?

CureVac N.V. (CVAC) grew revenue by 895.5% over the past year. This is strong growth.

Is CVAC profitable?

Yes, CureVac N.V. (CVAC) is profitable, generating $193.6M in net income for fiscal year 2024 (30.3% net margin).

Dividend & Returns
What is CVAC's return on equity?

CureVac N.V. (CVAC) has a return on equity (ROE) of 26.7%. This is excellent, indicating efficient use of shareholder capital.

What is CureVac N.V.'s free cash flow?

CureVac N.V. (CVAC) generated $196.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in CVAC back in 2018?

Total return calculator · dividends reinvested · 8+ years of data

See returns →