CureVac N.V. (CVAC) fundamental analysis — strengths, weaknesses & financial health based on data analysis
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
CureVac N.V. (CVAC) stock price & volume — 10-year historical chart
CureVac N.V. (CVAC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
CureVac N.V. (CVAC) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q4 2025Latest | Nov 24, 2025 | $0.10vs $0.17+41.2% | $573M |
| Q3 2025 | Aug 15, 2025 | $0.30vs $0.18-66.7% | $1Mvs $4M-62.7% |
| Q2 2025 | May 20, 2025 | $0.24vs $0.16-50.0% | $978,951vs $5M-79.7% |
| Q2 2025 | Apr 10, 2025 | $0.15vs $0.22+31.8% | $15Mvs $7M+122.7% |
CureVac N.V. (CVAC) competitors in Vaccines and Infectious Disease — business model, growth, and fundamentals comparison
CureVac N.V. (CVAC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CureVac N.V. (CVAC) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 12.87M | 17.42M | 48.9M | 102.99M | 67.42M | 53.76M | 535.18M | 510.51M |
| Revenue Growth % | - | 35.31% | 180.78% | 110.61% | -34.54% | -20.26% | 895.54% | 682.03% |
| Cost of Goods Sold | 17.74M | 27.98M | 14.17M | 238.19M | 183.99M | 124.37M | 105.83M | 26.5M |
| COGS % of Revenue | 137.86% | 160.67% | 28.98% | 231.28% | 272.91% | 231.34% | 19.77% | - |
| Gross Profit | -4.87M▲ 0% | -10.57M▼ 116.8% | 34.73M▲ 428.6% | -135.21M▼ 489.3% | -116.57M▲ 13.8% | -70.61M▲ 39.4% | 429.35M▲ 708.1% | 484M▲ 0% |
| Gross Margin % | -37.86% | -60.67% | 71.02% | -131.28% | -172.91% | -131.34% | 80.23% | 94.81% |
| Gross Profit Growth % | - | -116.85% | 428.64% | -489.34% | 13.78% | 39.43% | 708.08% | - |
| Operating Expenses | 67.95M | 88.93M | 158.7M | 277.06M | 134.28M | 203.6M | 251.67M | 275.86M |
| OpEx % of Revenue | 527.94% | 510.62% | 324.54% | 269.01% | 199.17% | 378.73% | 47.03% | - |
| Selling, General & Admin | 21.5M | 43.94M | 45.76M | 88.94M | 89.41M | 76.43M | 74.33M | 72.88M |
| SG&A % of Revenue | 167.04% | 252.29% | 93.58% | 86.36% | 132.62% | 142.18% | 13.89% | - |
| Research & Development | 41.72M | 43.24M | 113.81M | 815.91M | 62.55M | 115.72M | 153.03M | 166.59M |
| R&D % of Revenue | 324.16% | 248.29% | 232.74% | 792.22% | 92.78% | 215.27% | 28.59% | - |
| Other Operating Expenses | 4.73M | 1.75M | -870K | -627.79M | -17.68M | 11.44M | 24.3M | 696K |
| Operating Income | -72.82M▲ 0% | -99.5M▼ 36.6% | -124M▼ 24.6% | -412.26M▼ 232.5% | -249.46M▲ 39.5% | -274.21M▼ 9.9% | 177.68M▲ 164.8% | 208.15M▲ 0% |
| Operating Margin % | -565.8% | -571.3% | -253.58% | -400.29% | -370% | -510.08% | 33.2% | 40.77% |
| Operating Income Growth % | - | -36.63% | -24.63% | -232.46% | 39.49% | -9.92% | 164.8% | - |
| EBITDA | -68.94M | -94.74M | -110.39M | -376.38M | -223.3M | -250.82M | 196.49M | 225.95M |
| EBITDA Margin % | -535.6% | -543.96% | -225.75% | -365.46% | -331.2% | -466.57% | 36.71% | 44.26% |
| EBITDA Growth % | - | -37.42% | -16.52% | -240.96% | 40.67% | -12.33% | 178.34% | 185.02% |
| D&A (Non-Cash Add-back) | 3.89M | 4.76M | 13.61M | 35.88M | 26.16M | 23.39M | 18.81M | 17.8M |
| EBIT | -70.86M | -98.67M | -107.75M | -402.16M | -245.45M | -257.48M | 190.88M | 220.79M |
| Net Interest Income | 1.69M | -627K | -20.03M | -235K | 302K | 14.24M | 12.36M | 11.4M |
| Interest Income | 1.97M | 833K | 2.07M | 10.1M | 4.01M | 16.73M | 12.36M | 11.8M |
| Interest Expense | 275K | 1.46M | 22.1M | 10.34M | 3.71M | 2.49M | 0 | 403K |
| Other Income/Expense | 1.69M | -627K | -20.03M | -235K | 302K | 14.24M | 13.2M | 12.24M |
| Pretax Income | -71.13M▲ 0% | -100.13M▼ 40.8% | -129.8M▼ 29.6% | -412.5M▼ 217.8% | -249.16M▲ 39.6% | -259.97M▼ 4.3% | 190.88M▲ 173.4% | 220.39M▲ 0% |
| Pretax Margin % | -552.65% | -574.9% | -265.44% | -400.52% | -369.56% | -483.59% | 35.67% | 43.17% |
| Income Tax | 110K | -252K | -726K | -782K | -126K | 198K | 28.7M | 26.75M |
| Effective Tax Rate % | -0.15% | 0.25% | 0.56% | 0.19% | 0.05% | -0.08% | 15.03% | 12.14% |
| Net Income | -71.24M▲ 0% | -99.87M▼ 40.2% | -129.07M▼ 29.2% | -411.72M▼ 219.0% | -249.03M▲ 39.5% | -260.17M▼ 4.5% | 162.19M▲ 162.3% | 193.64M▲ 0% |
| Net Margin % | -553.5% | -573.46% | -263.95% | -399.76% | -369.37% | -483.96% | 30.3% | 37.93% |
| Net Income Growth % | - | -40.19% | -29.24% | -218.98% | 39.51% | -4.47% | 162.34% | 170.11% |
| Net Income (Continuing) | -71.24M | -99.87M | -129.12M | -411.72M | -249.03M | -260.17M | 162.19M | 193.64M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.40▲ 0% | -0.53▼ 32.5% | -0.98▼ 84.9% | -2.21▼ 125.5% | -1.32▲ 40.3% | -1.18▲ 10.6% | 0.72▲ 161.0% | 0.86▲ 0% |
| EPS Growth % | - | -32.5% | -84.91% | -125.51% | 40.27% | 10.61% | 161.02% | 170.73% |
| EPS (Basic) | -0.40 | -0.53 | -0.98 | -2.21 | -1.32 | -1.18 | 0.72 | - |
| Diluted Shares Outstanding | 175.97M | 186.91M | 132.2M | 186.01M | 189.07M | 220.83M | 225.27M | 225.17M |
| Basic Shares Outstanding | 175.97M | 186.91M | 132.2M | 186.01M | 189.07M | 220.48M | 224.38M | 225.17M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
CureVac N.V. (CVAC) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 73.07M | 57.17M | 1.39B | 940.02M | 584.03M | 478.38M | 526.41M | 419.78M |
| Cash & Short-Term Investments | 60.63M | 32.14M | 1.33B | 816.11M | 500.28M | 405.11M | 485.37M | 395.81M |
| Cash Only | 21.38M | 30.68M | 1.32B | 811.46M | 495.8M | 402.45M | 481.75M | 392.7M |
| Short-Term Investments | 39.25M | 1.46M | 2.62M | 4.65M | 4.49M | 2.66M | 3.62M | 3.11M |
| Accounts Receivable | 6.86M | 17.15M | 1.82M | 53.74M | 9M | 39.51M | 32.9M | 7.7M |
| Days Sales Outstanding | 194.48 | 359.49 | 13.6 | 190.45 | 48.74 | 268.26 | 22.44 | 12.9 |
| Inventory | 2.95M | 6.2M | 14.53M | 56.16M | 23.99M | 24.8M | 541K | 541K |
| Days Inventory Outstanding | 60.7 | 80.83 | 374.22 | 86.06 | 47.59 | 72.79 | 1.87 | 7.21 |
| Other Current Assets | 0 | 0 | 0 | 8.29M | 15.81M | 7.88M | 6.81M | 15.72M |
| Total Non-Current Assets | 52.59M | 73.44M | 121.5M | 218.22M | 276.44M | 309.87M | 276.41M | 269.1M |
| Property, Plant & Equipment | 45.49M | 66.78M | 104.79M | 200.39M | 241.7M | 278.63M | 244.65M | 238.41M |
| Fixed Asset Turnover | 0.28x | 0.26x | 0.47x | 0.51x | 0.28x | 0.19x | 2.19x | 2.12x |
| Goodwill | 0 | 0 | 0 | 0 | 12.46M | 12.46M | 12.46M | 0 |
| Intangible Assets | 6.21M | 5.7M | 14.15M | 13.24M | 19.32M | 15.88M | 12.69M | 7.7M |
| Long-Term Investments | 749K | 0 | 1.03M | 515K | 0 | -4K | 0 | 0 |
| Other Non-Current Assets | 1K | 967K | 1.09M | 1.22M | 1.67M | 1.7M | 1.51M | 6.07M |
| Total Assets | 125.66M▲ 0% | 130.62M▲ 3.9% | 1.51B▲ 1057.1% | 1.16B▼ 23.4% | 860.47M▼ 25.7% | 788.25M▼ 8.4% | 802.83M▲ 1.8% | 688.88M▲ 0% |
| Asset Turnover | 0.10x | 0.13x | 0.03x | 0.09x | 0.08x | 0.07x | 0.67x | 0.66x |
| Asset Growth % | - | 3.95% | 1057.06% | -23.36% | -25.71% | -8.39% | 1.85% | 34.37% |
| Total Current Liabilities | 28.13M | 28.09M | 247.62M | 357.73M | 156.22M | 186.39M | 72.35M | 68.02M |
| Accounts Payable | 9.03M | 5.33M | 17.62M | 122.26M | 68.25M | 48.03M | 17.27M | 7.58M |
| Days Payables Outstanding | 185.73 | 69.54 | 453.85 | 187.35 | 135.38 | 140.97 | 59.57 | 164.21 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 5.78M | 7.48M | 157.99M | 55.75M | 36.78M | 44.58M | 0 | 2.38M |
| Other Current Liabilities | 11.92M | 11.84M | 55.58M | 171.38M | 44.69M | 88.74M | 31.5M | 37.3M |
| Current Ratio | 2.60x | 2.04x | 5.61x | 2.63x | 3.74x | 2.57x | 7.28x | 7.28x |
| Quick Ratio | 2.49x | 1.82x | 5.55x | 2.47x | 3.58x | 2.43x | 7.27x | 7.27x |
| Cash Conversion Cycle | 69.45 | 370.78 | -66.03 | 89.15 | -39.06 | 200.08 | -35.26 | -144.1 |
| Total Non-Current Liabilities | 65.45M | 145.34M | 552.39M | 112.03M | 170.99M | 84.92M | 33.87M | 34.49M |
| Long-Term Debt | 0 | 65.02M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 12.13M | 26.85M | 25.42M | 37.11M | 36.82M | 33.64M | 131.87M |
| Deferred Tax Liabilities | 0 | 1.62M | 0 | 0 | 0 | 0 | 227K | 681K |
| Other Non-Current Liabilities | 863K | 68.19M | 25.47M | 86.61M | 133.89M | 0 | 0 | 4.83M |
| Total Liabilities | 93.58M | 173.42M | 800.01M | 469.77M | 327.22M | 271.31M | 106.22M | 102.51M |
| Total Debt | 77K | 79.15M | 30.09M | 28.89M | 42.09M | 41.82M | 38.97M | 36.03M |
| Net Debt | -21.3M | 48.46M | -1.29B | -782.57M | -453.71M | -360.63M | -442.78M | -356.67M |
| Debt / Equity | 0.00x | - | 0.04x | 0.04x | 0.08x | 0.08x | 0.06x | 0.06x |
| Debt / EBITDA | - | - | - | - | - | - | 0.20x | 0.16x |
| Net Debt / EBITDA | - | - | - | - | - | - | -2.25x | -2.25x |
| Interest Coverage | -264.81x | -68.15x | -5.61x | -39.88x | -67.29x | -109.99x | - | 547.87x |
| Total Equity | 32.08M▲ 0% | -42.8M▼ 233.4% | 711.35M▲ 1761.9% | 688.48M▼ 3.2% | 533.25M▼ 22.5% | 516.94M▼ 3.1% | 696.61M▲ 34.8% | 586.37M▲ 0% |
| Equity Growth % | - | -233.41% | 1761.95% | -3.22% | -22.55% | -3.06% | 34.76% | 155.4% |
| Book Value per Share | 0.18 | -0.23 | 5.38 | 3.70 | 2.82 | 2.34 | 3.09 | 2.60 |
| Total Shareholders' Equity | 32.08M | -42.8M | 711.35M | 688.48M | 533.25M | 516.94M | 696.61M | 586.37M |
| Common Stock | 727K | 727K | 21.66M | 22.45M | 23.4M | 26.88M | 26.92M | 27.02M |
| Retained Earnings | -416.07M | -515.95M | -645.07M | -1.06B | -1.31B | -1.57B | -1.4B | -1.52B |
| Treasury Stock | 0 | 0 | 0 | -5.82M | -1.48M | 0 | 0 | 0 |
| Accumulated OCI | 447.43M | 472.42M | 1.33B | 1.73B | 1.82B | 2.06B | 2.07B | 2.07B |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
CureVac N.V. (CVAC) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -74.11M | -86.96M | 522.4M | -733.13M | -286.18M | -267.89M | 101.85M | 101.85M |
| Operating CF Margin % | -575.79% | -499.33% | 1068.31% | -711.84% | -424.47% | -498.32% | 19.03% | - |
| Operating CF Growth % | - | -17.34% | 700.72% | -240.34% | 60.96% | 6.39% | 138.02% | 727.86% |
| Net Income | -71.13M | -100.13M | -129.85M | -412.5M | -249.16M | -260.17M | 190.88M | 193.64M |
| Depreciation & Amortization | 3.78M | 7.16M | 10.67M | 15.67M | 23.74M | 23.39M | 18.81M | 17.8M |
| Stock-Based Compensation | -4.25M | 19.56M | 14.24M | 14.96M | 9.19M | 7.7M | 4.12M | 5.08M |
| Deferred Taxes | 52K | -847K | -2.87M | 199.02M | -1.58M | 0 | 0 | 0 |
| Other Non-Cash Items | -1.48M | 9.93M | 51.63M | -480.74M | 57.2M | 29.49M | 52M | 47.01M |
| Working Capital Changes | -1.08M | -22.65M | 578.57M | -69.55M | -125.56M | -68.29M | -163.96M | -86.2M |
| Change in Receivables | -5.59M | -10.12M | -32.3M | -19.82M | -16.68M | -7.92M | 11.47M | 37.24M |
| Change in Inventory | 878K | -3.25M | -8.33M | -227.46M | -47.85M | -46.96M | 590K | -84K |
| Change in Payables | 9.4M | -9.58M | 620.3M | 179.32M | -96.19M | -29.37M | -140.58M | 0 |
| Cash from Investing | -4.26M | 28.18M | -45.27M | -127.9M | -93.5M | -55.2M | -18.44M | -7.93M |
| Capital Expenditures | -14.72M | -12.22M | -47.35M | -127.9M | -93.22M | -52.32M | -14.31M | -7.04M |
| CapEx % of Revenue | 114.39% | 70.19% | 96.83% | 124.19% | 138.27% | 97.32% | 2.67% | - |
| Acquisitions | 0 | 0 | 0 | 0 | -277K | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 5.14M | 2.33M | 3.24M | -3.68M | -5.2M | -2.88M | -4.13M | -894K |
| Cash from Financing | -112K | 67.98M | 819.83M | 344.96M | 63.17M | 230.89M | -5.11M | -5.39M |
| Debt Issued (Net) | -112K | 67.98M | -47.88M | -28.18M | -4.22M | -5.19M | -5.11M | -5.26M |
| Equity Issued (Net) | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 0 | -138K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -30.91M | 0 | 0 | 0 | -69K |
| Other Financing | 0 | 0 | 0 | 0 | 0 | 246K | 0 | -1K |
| Net Change in Cash | -78.27M▲ 0% | 9.3M▲ 111.9% | 1.29B▲ 13785.5% | -511.13M▼ 139.6% | -315.67M▲ 38.2% | -93.34M▲ 70.4% | 79.3M▲ 184.9% | 190.19M▲ 0% |
| Free Cash Flow | -88.83M▲ 0% | -99.19M▼ 11.7% | 475.05M▲ 578.9% | -861.03M▼ 281.2% | -379.4M▲ 55.9% | -323.09M▲ 14.8% | 83.41M▲ 125.8% | 196.15M▲ 0% |
| FCF Margin % | -690.18% | -569.52% | 971.47% | -836.03% | -562.74% | -601% | 15.58% | 38.42% |
| FCF Growth % | - | -11.66% | 578.94% | -281.25% | 55.94% | 14.84% | 125.82% | 160.27% |
| FCF per Share | -0.50 | -0.53 | 3.59 | -4.63 | -2.01 | -1.46 | 0.37 | 0.37 |
| FCF Conversion (FCF/Net Income) | 1.04x | 0.87x | -4.05x | 1.78x | 1.15x | 1.03x | 0.63x | 1.01x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
CureVac N.V. (CVAC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | -38.61% | -58.82% | -40.77% | -49.55% | 26.73% | 33.02% |
| Return on Invested Capital (ROIC) | -907.72% | - | - | -235.21% | -174.39% | 64.98% | 64.98% |
| Gross Margin | -60.67% | 71.02% | -131.28% | -172.91% | -131.34% | 80.23% | 94.81% |
| Net Margin | -573.46% | -263.95% | -399.76% | -369.37% | -483.96% | 30.3% | 37.93% |
| Debt / Equity | - | 0.04x | 0.04x | 0.08x | 0.08x | 0.06x | 0.06x |
| Interest Coverage | -68.15x | -5.61x | -39.88x | -67.29x | -109.99x | - | 547.87x |
| FCF Conversion | 0.87x | -4.05x | 1.78x | 1.15x | 1.03x | 0.63x | 1.01x |
| Revenue Growth | 35.31% | 180.78% | 110.61% | -34.54% | -20.26% | 895.54% | 682.03% |
CureVac N.V. (CVAC) stock FAQ — growth, dividends, profitability & financials explained
CureVac N.V. (CVAC) reported $510.5M in revenue for fiscal year 2024. This represents a 3866% increase from $12.9M in 2018.
CureVac N.V. (CVAC) grew revenue by 895.5% over the past year. This is strong growth.
Yes, CureVac N.V. (CVAC) is profitable, generating $193.6M in net income for fiscal year 2024 (30.3% net margin).
CureVac N.V. (CVAC) has a return on equity (ROE) of 26.7%. This is excellent, indicating efficient use of shareholder capital.
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.
CureVac N.V. (CVAC) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates