Evaxion Biotech A/S(EVAX)Earnings, Financials & Key Ratios
EVAX•NASDAQ
$4.41
$5M mkt cap·Price updated May 6, 2026
AboutEvaxion Biotech A/S, a clinical-stage biotech company, engages in developing artificial intelligence-powered immunotherapies for cancers, bacterial diseases, and viral infections. The company develops EVX-01, a cancer immunotherapy that is in clinical Phase IIb trial for metastatic melanoma; EVX-02, a DNA-based cancer immunotherapy that is in Phase IIa trial for adjuvant melanoma; and EVX-03, a DNA-based immunotherapy for the treatment of various cancers. Its programs also include EVX-B1, EVX-B2, and EVX-V1, which are vaccines that are in pre-clinical stage for the treatment of bacterial and viral diseases. The company was incorporated in 2008 and is headquartered in Hørsholm, Denmark.Show more
- Revenue$3M+4480.8%
- EBITDA-$14M+34.6%
- Net Income-$11M+52.2%
- EPS (Diluted)-9.80+69.8%
- Gross Margin100%
- EBITDA Margin-422.4%+98.6%
- Operating Margin-440.55%+98.6%
- Net Margin-316%+99.0%
- ROIC-558.74%+0.5%
- Interest Coverage-15.31+38.1%
EVAX Key Insights
Evaxion Biotech A/S (EVAX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
✗Weaknesses
- ✗Negative free cash flow
- ✗Shares diluted 57.0% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
EVAX Price & Volume
Evaxion Biotech A/S (EVAX) stock price & volume — 10-year historical chart
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EVAX Growth Metrics
Evaxion Biotech A/S (EVAX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM132.2%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM52.7%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM64.53%
Return on Capital
10 Years-352.71%
5 Years-162.41%
3 Years-163.16%
Last Year-211.64%
EVAX Peer Comparison
Evaxion Biotech A/S (EVAX) competitors in Vaccines and Infectious Disease — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 NEON | 29.2M | 1.74 | 3.41 | -33.66% | 411.88% | 43.16% | 0.02 | |
 IMVT | 5.83B | 28.67 | -10.50 | -47.07% | 0.00 | |||
 NKTR | 1.67B | 85.09 | -8.75 | -43.89% | -192.87% | -356.81% | 0.95 | |
 IOVA | 1.68B | 4.09 | -3.75 | 60.6% | -148.38% | -55.97% | 0.07 | |
 GILD | 169.83B | 136.30 | 358.68 | 6.04% | 28.9% | 37.62% | 1.39 | |
 NVAX | 1.53B | 9.36 | 3.69 | 64.69% | -14.73% | |||
 MRNA | 19.35B | 48.79 | -6.72 | -39.23% | -143.55% | -36.73% | 0.22 | |
 BNTX | 23.94B | 95.26 | -18.00 | 0.2% | -39.6% | -6.03% | 0.01 |
Compare EVAX vs Peers
Evaxion Biotech A/S (EVAX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
EVAX Income Statement
Evaxion Biotech A/S (EVAX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 73K | 3.34M | 7.65M |
| Revenue Growth % | - | - | - | - | - | - | 4480.82% | 132.2% |
| Cost of Goods Sold | 73.93K | 80.98K | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - |
| Gross Profit | -73.93K▲ 0% | -80.98K▼ 9.5% | 0▲ 100.0% | 0▲ 0% | 0▲ 0% | 73K▲ 0% | 3.34M▲ 4480.8% | 7.65M▲ 0% |
| Gross Margin % | - | - | - | - | - | 100% | 100% | 100% |
| Gross Profit Growth % | - | -9.54% | 100% | - | - | - | 4480.82% | - |
| Operating Expenses | 5.63M | 11.28M | 16.57M | 25.83M | 25.26M | 22.27M | 18.08M | 16.86M |
| OpEx % of Revenue | - | - | - | - | - | 30506.85% | 540.55% | - |
| Selling, General & Admin | 1.88M | 2.63M | 5.67M | 6.18M | 8.06M | 10.08M | 7.32M | 6.89M |
| SG&A % of Revenue | - | - | - | - | - | 13806.85% | 218.81% | - |
| Research & Development | 3.73M | 8.65M | 11.7M | 19.58M | 17.06M | 11.92M | 10.46M | 9.67M |
| R&D % of Revenue | - | - | - | - | - | 16323.29% | 312.71% | - |
| Other Operating Expenses | 15K | 0 | -800K | 71K | 144K | 275K | 302K | 303K |
| Operating Income | -5.63M▲ 0% | -11.36M▼ 101.9% | -16.57M▼ 45.8% | -25.83M▼ 55.9% | -25.26M▲ 2.2% | -22.2M▲ 12.1% | -14.73M▲ 33.6% | -9.21M▲ 0% |
| Operating Margin % | - | - | - | - | - | -30406.85% | -440.55% | -120.38% |
| Operating Income Growth % | - | -101.9% | -45.84% | -55.93% | 2.21% | 12.14% | 33.63% | - |
| EBITDA | -5.55M | -11.28M | -16.46M | -25.49M | -24.69M | -21.58M | -14.13M | -4.38M |
| EBITDA Margin % | - | - | - | - | - | -29564.38% | -422.4% | -57.26% |
| EBITDA Growth % | - | -103.13% | -45.95% | -54.83% | 3.13% | 12.6% | 34.55% | 60.83% |
| D&A (Non-Cash Add-back) | 73.93K | 80.98K | 105K | 344K | 571K | 615K | 607K | 90.75K |
| EBIT | -6.25M | -11.98M | -16.57M | -24.55M | -23.14M | -22.02M | -10.39M | -6.05M |
| Net Interest Income | -696K | -1.21M | -7K | 1.12M | 1.32M | -743K | -708K | 3.21M |
| Interest Income | 2K | 9K | 216K | 2.04M | 2.83M | 154K | 254K | 5.21M |
| Interest Expense | 698K | 1.22M | 223K | 915K | 1.51M | 897K | 962K | 2M |
| Other Income/Expense | -636.93K | -656.87K | -7K | 1.12M | 1.32M | -718K | 3.38M | 2.86M |
| Pretax Income | -6.27M▲ 0% | -12.02M▼ 91.7% | -16.57M▼ 37.9% | -24.71M▼ 49.1% | -23.94M▲ 3.1% | -22.91M▲ 4.3% | -11.36M▲ 50.4% | -6.35M▲ 0% |
| Pretax Margin % | - | - | - | - | - | -31390.41% | -339.56% | -83% |
| Income Tax | -735K | -824.84K | -1.56M | -178K | -772K | -790K | -788K | -927K |
| Effective Tax Rate % | 11.72% | 6.86% | 9.39% | 0.72% | 3.22% | 3.45% | 6.94% | 14.6% |
| Net Income | -5.54M▲ 0% | -11.19M▼ 102.2% | -15.02M▼ 34.2% | -24.53M▼ 63.4% | -23.17M▲ 5.6% | -22.13M▲ 4.5% | -10.57M▲ 52.2% | -5.42M▲ 0% |
| Net Margin % | - | - | - | - | - | -30308.22% | -316% | -70.87% |
| Net Income Growth % | - | -102.22% | -34.18% | -63.35% | 5.56% | 4.51% | 52.24% | 52.7% |
| Net Income (Continuing) | -5.53M | -11.19M | -15.02M | -24.53M | -23.17M | -22.13M | -10.57M | -5.42M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -11.52▲ 0% | -27.60▼ 139.6% | -37.00▼ 34.1% | -50.40▼ 36.2% | -39.20▲ 22.2% | -32.40▲ 17.3% | -9.80▲ 69.8% | -4.91▲ 0% |
| EPS Growth % | - | -139.58% | -34.06% | -36.22% | 22.22% | 17.35% | 69.75% | 64.53% |
| EPS (Basic) | -11.52 | -27.60 | -37.00 | -50.40 | -39.20 | -32.40 | -9.80 | - |
| Diluted Shares Outstanding | 479.97K | 404.97K | 404.97K | 487.33K | 590.97K | 683.39K | 1.07M | 1.11M |
| Basic Shares Outstanding | 479.97K | 404.97K | 404.97K | 487.33K | 590.97K | 683.39K | 1.07M | 1.11M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
EVAX Balance Sheet
Evaxion Biotech A/S (EVAX) 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 | 8.38M | 10.96M | 10.95M | 34.7M | 16.98M | 8.35M | 8.77M | 10.57M |
| Cash & Short-Term Investments | 7.43M | 9.56M | 5.83M | 32.17M | 13.18M | 5.58M | 5.05M | 10.57M |
| Cash Only | 7.43M | 9.56M | 5.83M | 32.17M | 13.18M | 5.58M | 5.05M | 10.57M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 772K | 0 | 0 | 0 | 0 | 0 | 1.86M | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | 202.8 | 32.46 |
| Inventory | -1.36M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 931K | 3.94M | 1.9M | 1.31M | 1.07M | 900K | 0 |
| Total Non-Current Assets | 130K | 126K | 1.01M | 5.46M | 5.04M | 4.54M | 3.72M | 19.16M |
| Property, Plant & Equipment | 130K | 101K | 221K | 5.17M | 4.67M | 4.34M | 3.51M | 0 |
| Fixed Asset Turnover | - | - | - | - | - | 0.02x | 0.95x | 4.29x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 100K | 93K | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 44K | 508.01K |
| Other Non-Current Assets | 0 | 25K | 694K | 191K | 365K | 196K | 162K | 26.91M |
| Total Assets | 8.51M▲ 0% | 11.08M▲ 30.2% | 11.96M▲ 7.9% | 40.16M▲ 235.7% | 22.02M▼ 45.2% | 12.89M▼ 41.5% | 12.48M▼ 3.1% | 29.74M▲ 0% |
| Asset Turnover | - | - | - | - | - | 0.01x | 0.27x | 0.34x |
| Asset Growth % | - | 30.2% | 7.95% | 235.67% | -45.16% | -41.48% | -3.13% | 151.5% |
| Total Current Liabilities | 9.42M | 1.72M | 4.93M | 4.32M | 3.76M | 7.08M | 4.37M | 0 |
| Accounts Payable | 139K | 646K | 3.67M | 2.85M | 2.08M | 2.69M | 2.97M | 0 |
| Days Payables Outstanding | 686.28 | 2.91K | - | - | - | - | - | - |
| Short-Term Debt | 8.57M | 0 | 0 | 126K | 136K | 159K | 159K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 440K | 177K | 180K | 46K | 885K | 3.02M | 927K | 0 |
| Current Ratio | 0.89x | 6.36x | 2.22x | 8.03x | 4.51x | 1.18x | 2.01x | 2.01x |
| Quick Ratio | 1.03x | 6.36x | 2.22x | 8.03x | 4.51x | 1.18x | 2.01x | 2.01x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | 32.46 |
| Total Non-Current Liabilities | 24K | 0 | 0 | 3.4M | 9.96M | 10.53M | 9.77M | 13.14M |
| Long-Term Debt | 0 | 0 | 0 | 1.04M | 7.86M | 8.49M | 8.01M | 0 |
| Capital Lease Obligations | 24K | 0 | 0 | 2.21M | 1.95M | 1.9M | 1.62M | 3.33M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 153K | 144K | 149K | 141K | 28.36M |
| Total Liabilities | 9.44M | 1.72M | 4.93M | 7.73M | 13.72M | 17.62M | 14.14M | 13.14M |
| Total Debt | 8.67M | 36K | 20K | 3.69M | 10.26M | 10.87M | 10.1M | 0 |
| Net Debt | 1.24M | -9.52M | -5.81M | -28.48M | -2.93M | 5.29M | 5.05M | -10.57M |
| Debt / Equity | - | 0.00x | 0.00x | 0.11x | 1.24x | - | - | 0.00x |
| Debt / EBITDA | - | - | - | - | - | - | - | -0.00x |
| Net Debt / EBITDA | - | - | - | - | - | - | - | 2.41x |
| Interest Coverage | -8.06x | -9.30x | -74.30x | -28.23x | -16.75x | -24.75x | -15.31x | -3.03x |
| Total Equity | -931K▲ 0% | 9.36M▲ 1105.6% | 7.04M▼ 24.8% | 32.44M▲ 360.9% | 8.3M▼ 74.4% | -4.73M▼ 157.0% | -1.65M▲ 65.1% | 16.6M▲ 0% |
| Equity Growth % | - | 1105.59% | -24.82% | 360.88% | -74.4% | -156.96% | 65.07% | 23089.39% |
| Book Value per Share | -1.94 | 23.12 | 17.38 | 66.56 | 14.05 | -6.92 | -1.54 | 15.02 |
| Total Shareholders' Equity | -931K | 9.36M | 7.04M | 32.44M | 8.3M | -4.73M | -1.65M | 16.6M |
| Common Stock | 2.11M | 2.48M | 2.65M | 3.75M | 3.89M | 5.9M | 10.52M | 13.81M |
| Retained Earnings | -6.98M | -15.81M | -27.28M | -50.43M | -85.84M | -107.97M | -118.54M | -127.32M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 3.94M | -169K | 226K | -1.32M | 9.53M | 9.89M | -3.6M | 130.11M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EVAX Cash Flow Statement
Evaxion Biotech A/S (EVAX) 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 | -1.99M | -7.02M | -12.44M | -21.93M | -25.77M | -17.69M | -12.94M | -12.94M |
| Operating CF Margin % | - | - | - | - | - | -24234.25% | -386.96% | - |
| Operating CF Growth % | - | -252.54% | -77.2% | -76.34% | -17.51% | 31.36% | 26.86% | 100% |
| Net Income | -5.54M | -11.2M | -15.02M | -24.53M | -23.17M | -22.13M | -10.57M | -5.42M |
| Depreciation & Amortization | 74K | 81K | 105K | 344K | 571K | 615K | 607K | 0 |
| Stock-Based Compensation | 2.07M | 2.36M | 3.41M | 1.38M | 942K | 479K | 357K | 0 |
| Deferred Taxes | -735K | -825K | -2.07M | -190K | -998K | -984K | -813K | 0 |
| Other Non-Cash Items | 1.16M | 1.99M | 919K | -171K | -243K | 2.76M | -3.04M | 5.4M |
| Working Capital Changes | 981K | 573K | 215K | 1.24M | -2.88M | 1.56M | 520K | 0 |
| Change in Receivables | 443K | -337K | -2.5M | 1.86M | -1.49M | 1.11M | 374K | 0 |
| Change in Inventory | 446K | 0 | 0 | 0 | 1.49M | 0 | 0 | 0 |
| Change in Payables | 79K | 507K | 1.8M | -647K | -599K | 502K | 449K | 0 |
| Cash from Investing | 6K | -68K | -393K | -1.33M | -268K | -93K | -3K | 0 |
| Capital Expenditures | -7K | -68K | -358K | -1.3M | -292K | -87.13K | 0 | 0 |
| CapEx % of Revenue | - | - | - | - | - | 119.36% | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 13K | 0 | -35K | -60K | -13 | 133 | 0 | 0 |
| Cash from Financing | 9.03M | 9.51M | 8.82M | 49.8M | 7.85M | 10.69M | 13.13M | 0 |
| Debt Issued (Net) | 7.93M | 79K | -74K | -289K | 7.42M | -632K | -1.14M | 0 |
| Equity Issued (Net) | 1000K | 1000K | 1000K | 1000K | 428K | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -13K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | -13K | -128K | -3.76M | 0 | 2.15M | -2.29M | 0 |
| Net Change in Cash | 6.96M▲ 0% | 2.13M▼ 69.5% | -3.73M▼ 275.2% | 26.33M▲ 806.9% | -18.98M▼ 172.1% | -7.6M▲ 60.0% | 369K▲ 104.9% | 1.38M▲ 0% |
| Free Cash Flow | -2M▲ 0% | -7.09M▼ 254.7% | -12.83M▼ 81.0% | -23.29M▼ 81.5% | -26.07M▼ 11.9% | -17.78M▲ 31.8% | -12.94M▲ 27.2% | 0▲ 0% |
| FCF Margin % | - | - | - | - | - | -24353.42% | -386.96% | - |
| FCF Growth % | - | -254.7% | -81.05% | -81.54% | -11.9% | 31.8% | 27.21% | 100% |
| FCF per Share | -4.16 | -17.50 | -31.68 | -47.80 | -44.11 | -26.01 | -12.06 | -12.06 |
| FCF Conversion (FCF/Net Income) | 0.36x | 0.63x | 0.83x | 0.89x | 1.11x | 0.80x | 1.22x | -0.00x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EVAX Key Ratios
Evaxion Biotech A/S (EVAX) 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) | -265.52% | -183.15% | -124.29% | -113.74% | -1238.11% | - | -68.86% |
| Return on Invested Capital (ROIC) | -11916.88% | -2337.91% | -747.37% | -405.96% | -561.29% | -558.74% | -558.74% |
| Gross Margin | - | - | - | - | 100% | 100% | 100% |
| Net Margin | - | - | - | - | -30308.22% | -316% | -70.87% |
| Debt / Equity | 0.00x | 0.00x | 0.11x | 1.24x | - | - | 0.00x |
| Interest Coverage | -9.30x | -74.30x | -28.23x | -16.75x | -24.75x | -15.31x | -3.03x |
| FCF Conversion | 0.63x | 0.83x | 0.89x | 1.11x | 0.80x | 1.22x | -0.00x |
| Revenue Growth | - | - | - | - | - | 4480.82% | 132.2% |
EVAX Frequently Asked Questions
Evaxion Biotech A/S (EVAX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Evaxion Biotech A/S (EVAX) reported $7.7M in revenue for fiscal year 2024.
Evaxion Biotech A/S (EVAX) grew revenue by 4480.8% over the past year. This is strong growth.
Evaxion Biotech A/S (EVAX) reported a net loss of $5.4M for fiscal year 2024.
Dividend & Returns
Evaxion Biotech A/S (EVAX) had negative free cash flow of $12.9M in fiscal year 2024, likely due to heavy capital investments.
Explore More EVAX
Evaxion Biotech A/S (EVAX) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
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Dividend History
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Earnings History
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Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
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