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NVAXNovavax, Inc.
$10.83$1.8B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
NVAX logo

Novavax, Inc.

NVAX
NASDAQ · Biotechnology
$10.83
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$1.78B
P/E4.3x
52W High$11.97
Volume7.57M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

COVID Revenue Collapse Strains Balance Sheet Liquidity

Novavax's revenue has collapsed 91.5% from its 2025Q1 peak of $666.7M to $56.7M in 2026Q2, reflecting the boom-bust nature of COVID vaccine demand. Gross margins remain high at 74.9% in 2026Q2, but operating leverage has swung to a -96.8% operating margin, and...

GrowthDecelerating
ProfitabilityStrained
ValuationAttractive
TechnicalsNeutral
Explore valuation models
MARKET ACTION

NVAX 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

8/12 Beats

EPS beat 8 of last 12 quarters

02

Valuation risk

-79% Peers

P/E is 79% below peer median

03

Market leadership

RS 80 · Leader

High momentum (Outperforming 80% of market)

04

Trend Check

N/A

Trend data unavailable

Next CatalystEstimated earnings · Nov 6

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
NVAX+51.89%
S&P 500 (^GSPC)+13.20%
1-Year Return
NVAX+22.10%
S&P 500 (^GSPC)+15.98%
3-Year Return
NVAX+51.89%
S&P 500 (^GSPC)+78.60%
5-Year Return
NVAX-95.33%
S&P 500 (^GSPC)+79.38%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
4.3x
Forward P/E
N/A
EV/EBITDA100th %ile
3.0x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
4.3x
2.6x
100th· High
EV/EBITDA
3.0x
2.0x
100th· High
Price/FCF
N/A
40.1x
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$0.00N/A
Base (Fair)$12.64+25.0%
Bull$0.16-98.5%
$0.00 Bear$12.64 Base$0.16 Bull
Current Market Price: $10.83
Trades at a 14.3% discount to Base DCF ($12.64)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$1.12B+64.7% YoY
Net income
$440M+334.8% YoY
Free cash flow
-$250M-149.4% YoY
Operating margin
50.1%+86.6 pts YoY
ROIC (TTM)-
Avg ROIC 5Y-
ROE (TTM)-
Piotroski Score5 / 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 Rate8/12 (67%)
Revenue Beat Rate7/12 (58%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
-$0.32+15.8%
vs -$0.38
$57M+8.0%
vs $53M
Q2 2026
May 6, 2026
-$0.06+76.0%
vs -$0.25
$140M+74.8%
vs $80M
Q1 2026
Feb 26, 2026
$0.11+116.7%
vs -$0.66
$147M+63.8%
vs $90M
Q4 2025
Nov 6, 2025
-$1.25-15.7%
vs -$1.08
$70M+67.2%
vs $42M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Zacks Investment Research·Sep 15, 2026
Investors Heavily Search Novavax, Inc. (NVAX): Here is What You Need to Know

Novavax (NVAX) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.

Zacks Investment Research·Sep 11, 2026
Novavax (NVAX) Laps the Stock Market: Here's Why

In the most recent trading session, Novavax (NVAX) closed at $9.42, indicating a +1.29% shift from the previous trading day.

MarketBeat·Sep 10, 2026
Novavax Highlights Sanofi, Pfizer Catalysts in Matrix-M Platform Pivot

Novavax NASDAQ: NVAX executives outlined the company's transition from a COVID-19 vaccine-focused business toward a partnership-driven model centered on its Matrix-M adjuvant technology, with near-term attention on Sanofi's commercial rollout of NUVAXOVID, combination vaccine development and early oncology research.

Seeking Alpha·Sep 10, 2026
Novavax, Inc. (NVAX) Presents at Citigroup's Biopharma Back to School Summit 2026 Transcript

Novavax, Inc. (NVAX) Presents at Citigroup's Biopharma Back to School Summit 2026 Transcript

Filtered for Novavax, Inc.More Headlines
04

Compare before deciding

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

Peers Comparison

Key metrics vs top competitors for Novavax, Inc. (NVAX)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
NVAX logoNVAXNovavax, Inc.Current
$10.83$1.78B4.2664.69%39.19%——
MRNA logoMRNAModerna, Inc.
$182.56$72.44B-25.15-39.23%-141.43%-39.2%—
BNTX logoBNTXBioNTech SE
$100.87$25.34B-19.500.2%-64.02%-9.13%—
PFE logoPFEPfizer Inc.
$27.93$159.19B20.54-1.65%6.81%4.87%—
SNY logoSNYSanofi
$42.51$102.08B11.585.49%8.09%5.5%—
GSK logoGSKGSK plc
$50.72$101.62B13.664.11%14.52%24.99%—

Compare NVAX vs Peers

Novavax, Inc. (NVAX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MRNA

Most directly comparable listed peer for NVAX.

Scale Benchmark

vs JNJ

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

Peer Set

Compare Top 5

vs MRNA, BNTX, PFE, SNY

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

NVAX SEC Filings & Documents

Novavax, Inc. (NVAX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

Jun 23, 2026·SEC

Material company update

May 6, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 27, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 6, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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NVAX Frequently Asked Questions

Novavax, Inc. (NVAX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Novavax, Inc.'s revenue?

Novavax, Inc. (NVAX) reported $413.8M in revenue for fiscal year 2025. This represents a 413696% increase from $0.1M in 1996.

How fast is Novavax, Inc. growing?

Novavax, Inc. (NVAX) grew revenue by 64.7% over the past year. This is strong growth.

Is NVAX profitable?

Novavax, Inc. (NVAX) reported a net loss of $247.7M for fiscal year 2025.

Dividend & Returns
What is Novavax, Inc.'s free cash flow?

Novavax, Inc. (NVAX) had negative free cash flow of $43.6M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in NVAX back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →