Zacks Investment Research·Jun 24, 2026
Novavax (NVAX) Suffers a Larger Drop Than the General Market: Key InsightsIn the closing of the recent trading day, Novavax (NVAX) stood at $8.9, denoting a -1.17% move from the preceding trading day.
Novavax, Inc.(NVAX)Earnings, Financials & Key Ratios
NVAX•NASDAQ
$9.46
3.7× P/E·Price updated Jul 7, 2026
AboutNovavax, Inc., a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate. It is also developing RSV F vaccine that is in Phase II clinical trial for older adults (60 years and older), as well as that is in Phase I clinical trial for pediatrics. It has a collaboration agreement with Takeda Pharmaceutical Company Limited for the development, manufacturing, and commercialization of NVX-CoV2373, a COVID-19 vaccine candidate. Novavax, Inc. was incorporated in 1987 and is headquartered in Gaithersburg, Maryland.Show more
- Revenue$1.12B+64.7%
- EBITDA$591M+394.8%
- Net Income$440M+334.8%
- EPS (Diluted)2.54+306.5%
- Gross Margin93.67%+33.3%
- EBITDA Margin52.59%+279.0%
- Operating Margin50.14%+237.4%
- Net Margin39.19%+242.6%
NVAX Price & Volume
Novavax, Inc. (NVAX) stock price & volume — 10-year historical chart
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Licensing Volatility Masks Underlying Structural Revenue Decline
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Contracting
Profitability:Strained
Financial:Vulnerable
Cash Flow:Mixed
Primary Risk:Lumpy licensing revenue dependency
Key Thesis Takeaways
- Novavax's financial profile remains characterized by extreme revenue instability, as the company pivots from a manufacturing-heavy model to one reliant on unpredictable, non-recurring licensing milestones.
- While the firm has attempted to improve liquidity, the persistent negative equity position of -$144.8M as of 2026Q1 and ongoing settlement obligations suggest significant long-term financial risk.
- Investors should remain cautious, as the company has yet to demonstrate a sustainable, volume-driven commercial path that can consistently cover its fixed R&D and administrative cost base.
Verdict Logic
the company's reliance on non-recurring revenue to offset structural losses and the persistent negative equity position of -$144.8M indicate that the current valuation of 1.30x P/S does not adequately reflect the underlying business instability.
NVAX Growth Metrics
Novavax, Inc. (NVAX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years40.97%
5 Years118.83%
3 Years-11.1%
TTM-52.48%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-118.35%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-122.64%
Return on Capital
10 Years-111.69%
5 Years-154.96%
3 Years-112.06%
Last Year100.35%
NVAX Recent Earnings
Novavax, Inc. (NVAX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 6, 2026Metric
Actual
Est
EPS
$0.06+76.0%
$0.25
Rev
$140M+74.8%
$80M
Q1 2026
Feb 26, 2026Metric
Actual
Est
EPS
$0.11+116.7%
$0.66
Rev
$147M+63.8%
$90M
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.62+42.6%
$1.08
Rev
$70M-22.0%
$90M
Q3 2025
Aug 6, 2025Metric
Actual
Est
EPS
$0.62+985.7%
$0.07
Rev
$239M+330.1%
$56M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $0.06vs $0.25+76.0% | $140Mvs $80M+74.8% |
| Q1 2026 | Feb 26, 2026 | $0.11vs $0.66+116.7% | $147Mvs $90M+63.8% |
| Q4 2025 | Nov 6, 2025 | $0.62vs $1.08+42.6% | $70Mvs $90M-22.0% |
| Q3 2025 | Aug 6, 2025 | $0.62vs $0.07+985.7% | $239Mvs $56M+330.1% |
Based on last 12 quarters of dataView full earnings history →
Latest NVAX News
Recent stock market news and headlines for Novavax, Inc. (NVAX)
GlobeNewsWire·Jun 24, 2026
Shah Capital Responds to Significant Shareholder Dissent at Novavax AGMRALEIGH, N.C., June 24, 2026 (GLOBE NEWSWIRE) -- Shah Capital, the largest shareholder of Novavax, today commented on yesterday's announced voting results from Novavax's June 18th 2026 Annual Meeting of Stockholders.
Zacks Investment Research·Jun 23, 2026
Investors Heavily Search Novavax, Inc. (NVAX): Here is What You Need to KnowNovavax (NVAX) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Zacks Investment Research·Jun 18, 2026
Novavax (NVAX) Stock Falls Amid Market Uptick: What Investors Need to KnowNovavax (NVAX) closed the most recent trading day at $9.13, moving 3.89% from the previous trading session.
24/7 Wall Street·Jun 16, 2026
Moderna Is Up 94% This Year: Is It Outperforming Other Vaccine Stocks Like Pfizer and Novavax?Moderna (NASDAQ:MRNA | MRNA Price Prediction) stock is jumping again.
Peers Comparison
Key metrics vs top competitors for Novavax, Inc. (NVAX)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $9.46 | $1.56B | 3.72 | 64.69% | 39.19% | — | — | |
| $79.77 | $31.64B | -10.99 | -39.23% | -143.55% | -36.73% | — | |
| $94.29 | $23.84B | -18.30 | 0.2% | -44.95% | -6.72% | — | |
| $24.07 | $136.92B | 17.70 | -1.65% | 11.83% | 8.34% | — | |
| $42.98 | $103.34B | 11.75 | 5.49% | 16.72% | 10.78% | — | |
| $53.32 | $107.23B | 7.16 | 4.11% | 19.19% | 31.48% | — |
Compare NVAX vs Peers
Novavax, Inc. (NVAX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NVAX SEC Filings & Documents
Novavax, Inc. (NVAX) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 6, 2026·SEC
Material company update
Feb 26, 2026·SEC
Material company update
Jan 20, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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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 $596.3M in revenue for fiscal year 2025. This represents a 596238% 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 $87.8M for fiscal year 2025.
Dividend & Returns
What is Novavax, Inc.'s free cash flow?
Novavax, Inc. (NVAX) had negative free cash flow of $97.2M in fiscal year 2025, likely due to heavy capital investments.