CureVac N.V. (CVAC) Financial Ratios
7 years of historical data (2018–2024) · Healthcare · Biotechnology
EV/EBITDA
3.09
↑+86% vs avg
5yr avg: 1.66
30Y Low1.7·High1.7
P/FCF
↓
12.58
↓-21% vs avg
5yr avg: 15.88
30Y Low9.2·High22.6
P/B Ratio
↓
1.51
↓-74% vs avg
5yr avg: 5.88
30Y Low1.1·High15.1
ROE
↑
26.7%
↓+183% vs avg
5yr avg: -32.2%
30Y Low-222%·High27%
Debt/EBITDA
0.20
+0% vs avg
5yr avg: 0.20
30Y Low0.2·High0.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CVAC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
CureVac N.V. trades at 6.5x earnings, 37% above its 5-year average of 4.7x, sitting at the 100th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a discount of 71%. On a free-cash-flow basis, the stock trades at 12.6x P/FCF, 21% below the 5-year average of 15.9x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.0B | $768M | $930M | $1.1B | $6.4B | $10.7B | — | — |
| Enterprise Value | $607M | $325M | $569M | $686M | $5.6B | $9.4B | — | — |
| P/E Ratio → | 6.47 | 4.74 | — | — | — | — | — | — |
| P/S Ratio | 1.96 | 1.44 | 17.29 | 16.91 | 61.97 | 219.16 | — | — |
| P/B Ratio | 1.51 | 1.10 | 1.80 | 2.14 | 9.27 | 15.07 | — | — |
| P/FCF | 12.58 | 9.21 | — | — | — | 22.56 | — | — |
| P/OCF | 8.74 | 7.54 | — | — | — | 20.52 | — | — |
P/E links to full P/E history page with 30-year chart
CVAC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
CureVac N.V.'s enterprise value stands at 3.1x EBITDA, 86% above its 5-year average of 1.7x. The Healthcare sector median is 14.2x, placing the stock at a 78% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.61 | 10.59 | 10.18 | 54.37 | 192.73 | — | — |
| EV / EBITDA | 3.09 | 1.66 | — | — | — | — | — | — |
| EV / EBIT | 2.90 | 1.70 | — | — | — | — | — | — |
| EV / FCF | — | 3.90 | — | — | — | 19.84 | — | — |
CVAC Profitability
Margins and return-on-capital ratios measuring operating efficiency
CureVac N.V. earns an operating margin of 33.2%. Operating margins have expanded from -370.0% to 33.2% over the past 3 years, signaling improving operational efficiency. ROE of 26.7% indicates solid capital efficiency. ROIC of 65.0% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 80.2% | 80.2% | -131.3% | -172.9% | -131.3% | 71.0% | -60.7% | -37.9% |
| Operating Margin | 33.2% | 33.2% | -510.1% | -370.0% | -400.3% | -253.6% | -571.3% | -565.8% |
| Net Profit Margin | 30.3% | 30.3% | -484.0% | -369.4% | -399.8% | -264.0% | -573.5% | -553.5% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| ROE | 26.7% | 26.7% | -49.5% | -40.8% | -58.8% | -38.6% | — | -222.1% |
| ROA | 20.4% | 20.4% | -31.6% | -24.7% | -30.8% | -15.7% | -77.9% | -56.7% |
| ROIC | 65.0% | 65.0% | -174.4% | -235.2% | — | — | -907.7% | -506.7% |
| ROCE | 26.7% | 26.7% | -42.0% | -33.2% | -39.9% | -18.2% | -99.5% | -74.7% |
CVAC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
CureVac N.V. carries a Debt/EBITDA ratio of 0.2x, which is very conservative (94% below the sector average of 3.2x). The company holds a net cash position — cash of $482M exceeds total debt of $39M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.08 | 0.08 | 0.04 | 0.04 | — | 0.00 |
| Debt / EBITDA | 0.20 | 0.20 | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.64 | -0.70 | -0.85 | -1.14 | -1.82 | — | -0.66 |
| Net Debt / EBITDA | -2.25 | -2.25 | — | — | — | — | — | — |
| Debt / FCF | — | -5.31 | — | — | — | -2.72 | — | — |
| Interest Coverage | — | — | -109.99 | -67.29 | -39.88 | -5.61 | -68.15 | -264.81 |
Net cash position: cash ($482M) exceeds total debt ($39M)
CVAC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
CureVac N.V.'s current ratio of 7.28x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 3.74x to 7.28x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.28 | 7.28 | 2.57 | 3.74 | 2.63 | 5.61 | 2.04 | 2.60 |
| Quick Ratio | 7.27 | 7.27 | 2.43 | 3.58 | 2.47 | 5.55 | 1.82 | 2.49 |
| Cash Ratio | 6.71 | 6.71 | 2.17 | 3.20 | 2.28 | 5.35 | 1.14 | 2.16 |
| Asset Turnover | — | 0.67 | 0.07 | 0.08 | 0.09 | 0.03 | 0.13 | 0.10 |
| Inventory Turnover | 195.62 | 195.62 | 5.01 | 7.67 | 4.24 | 0.98 | 4.52 | 6.01 |
| Days Sales Outstanding | — | 22.44 | 268.26 | 48.74 | 190.45 | 13.60 | 359.49 | 194.48 |
CVAC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
CureVac N.V. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 15.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 15.5% | 21.1% | — | — | — | — | — | — |
| FCF Yield | 7.9% | 10.9% | — | — | — | 4.4% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.5% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.5% | 0.0% | — | — |
| Shares Outstanding | — | $225M | $221M | $189M | $186M | $132M | $187M | $176M |
Peer Comparison
Compare CVAC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CVACYou | $1B | 6.5 | 3.1 | 12.6 | 80.2% | 33.2% | 26.7% | 65.0% | 0.2 |
 MRNA | $25B | -8.8 | — | — | 55.3% | -158.1% | -28.9% | -26.1% | — |
 BNTX | $23B | -17.6 | — | 74.2 | 77.6% | -22.6% | -5.7% | -4.3% | — |
 ARCT | $214M | -3.1 | — | — | 95.5% | -111.5% | -28.9% | -277.1% | — |
 NTLA | $2B | -4.1 | — | — | 76.5% | -651.7% | -53.5% | -44.0% | — |
 BEAM | $4B | -42.1 | — | — | 84.0% | -274.6% | -8.1% | -31.1% | — |
 CRSP | $5B | -8.4 | — | — | -6537.0% | -16191.4% | -30.2% | -22.3% | — |
 IONS | $12B | -31.1 | — | — | 98.3% | -40.5% | -70.7% | -12.8% | — |
 ALNY | $37B | 119.4 | 65.9 | 79.7 | 81.8% | 13.5% | 73.3% | 33.4% | 2.3 |
 PFE | $143B | 18.5 | 10.3 | 15.8 | 70.3% | 24.7% | 8.9% | 7.5% | 3.3 |
 JNJ | $550B | 39.4 | 19.1 | 27.7 | 69.1% | 24.9% | 20.1% | 20.7% | 1.2 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 7 years · Updated daily
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CVAC — Frequently Asked Questions
Quick answers to the most common questions about buying CVAC stock.
What is CureVac N.V.'s P/E ratio?
CureVac N.V.'s current P/E ratio is 6.5x. The historical average is 4.7x. This places it at the 100th percentile of its historical range.
What is CureVac N.V.'s EV/EBITDA?
CureVac N.V.'s current EV/EBITDA is 3.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.7x.
What is CureVac N.V.'s ROE?
CureVac N.V.'s return on equity (ROE) is 26.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -63.8%.
Is CVAC stock overvalued?
Based on historical data, CureVac N.V. is trading at a P/E of 6.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are CureVac N.V.'s profit margins?
CureVac N.V. has 80.2% gross margin and 33.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does CureVac N.V. have?
CureVac N.V.'s Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.