Last 48 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Novavax, Inc.'s quarterly P/E stands at 5.6x.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 3.93 | 5.60 | — | 2.63 | 0.55 | — | — | 3.20 | — | — | — | 3.20 | — |
| — | — | — | -17.9% | — | — | — | -0.2% | — | — | — | — | — | |
| P/S Ratio | 1.49 | 1.98 | 5.00 | 1.17 | 0.43 | 3.65 | 5.98 | 1.26 | 1.78 | 0.51 | 8.48 | 0.46 | — |
| — | -45.8% | -16.5% | -7.7% | -76.0% | +615.9% | -29.5% | +177.4% | — | -28.5% | +1650.0% | -91.6% | — | |
| P/B Ratio | — | — | — | 29.67 | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/FCF | — | — | 3.33 | — | — | — | — | 1.69 | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 3.71 | — | — | 2.41 | 0.53 | — | — | 2.40 | — | — | — | 1.78 | — |
| — | — | — | +0.4% | — | — | — | +34.9% | — | — | — | — | — | |
| EV / EBIT | 3.71 | — | — | 2.41 | 0.53 | — | — | 2.45 | — | — | — | 1.91 | — |
| — | — | — | -1.4% | — | — | — | +28.1% | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Novavax, Inc.'s operating margin was 6.5% in Q4 2025, up 259.2 pp QoQ and up 155.0 pp YoY. The trailing four-quarter average of -31.2% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 44.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 93.5% | 84.2% | 69.5% | 94.1% | 97.9% | 58.5% | 28.3% | 88.9% | 48.0% | 48.9% | -348.4% | 86.9% | 630.3% |
| — | +44.0% | +145.8% | +5.8% | +103.9% | +19.6% | +108.1% | +2.3% | -92.4% | +32.7% | -953.1% | +289.7% | +546.5% | |
| Operating Margin | 40.3% | 6.5% | -252.7% | 44.2% | 77.3% | -148.4% | -158.6% | 38.7% | -147.8% | -63.0% | -569.4% | 13.1% | 4865.7% |
| — | +104.4% | -59.4% | +14.0% | +152.3% | -135.6% | +72.1% | +196.6% | -103.0% | +25.6% | -3188.5% | +105.0% | +13957.6% | |
| Net Margin | 39.2% | 11.9% | -287.3% | 44.5% | 77.8% | -91.8% | -143.5% | 39.1% | -157.2% | -61.2% | -592.7% | 13.7% | 4572.3% |
| — | +113.0% | -100.2% | +13.9% | +149.5% | -49.9% | +75.8% | +186.0% | -103.4% | +3.3% | -2482.2% | +105.0% | +13491.9% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | 283.1% | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| ROA | 32.2% | 1.5% | -16.1% | 8.1% | 36.4% | -5.0% | -6.9% | 10.2% | -9.4% | -10.3% | -7.8% | 3.6% | -15.5% |
| — | +130.0% | -134.1% | -20.9% | +488.2% | +52.1% | +12.2% | +184.8% | +39.4% | -28.2% | -13.5% | +119.2% | -305.7% | |
| ROIC | — | — | — | 640.6% | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has improved 117.5% YoY to 2.13x, strengthening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 6.07 | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Debt / EBITDA | 0.55 | — | — | 2.02 | 0.44 | — | — | 1.36 | — | — | — | 3.04 | — |
| — | — | — | +48.9% | — | — | — | -55.4% | — | — | — | — | — | |
| Current Ratio | 2.13 | 2.13 | 2.27 | 2.36 | 2.06 | 0.98 | 0.93 | 1.04 | 0.90 | 0.70 | 0.69 | 0.71 | 0.51 |
| — | +117.5% | +142.6% | +127.3% | +127.5% | +39.8% | +36.3% | +47.1% | +78.6% | +1.0% | -35.0% | -28.7% | -51.3% | |
| Quick Ratio | 2.10 | 2.10 | 2.24 | 2.34 | 2.03 | 0.97 | 0.93 | 1.03 | 0.88 | 0.67 | 0.64 | 0.69 | 0.49 |
| — | +116.6% | +141.1% | +126.5% | +129.8% | +44.0% | +45.3% | +49.1% | +81.1% | -0.5% | -36.5% | -20.7% | -50.7% | |
| Interest Coverage | — | — | -32.47 | 19.15 | 90.08 | -17.28 | -31.64 | 38.86 | -33.75 | -44.59 | -43.94 | 17.75 | -72.47 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonNovavax, Inc.'s current P/E is 3.9x. The average P/E over the last 3 quarters is 2.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Novavax, Inc.'s current operating margin is 40.3%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Novavax, Inc.'s business trajectory between earnings reports.