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Held by 251 of 5,944 reporting institutions (93th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.20T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.02T | 49.6× | — | 15.7× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $916.2B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $643.4B | 24.2× | — | 6.8× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $464.4B | 111.2× | 33.2× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $362.6B | 19.9× | — | 5.6× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $340.0B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $252.6B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $244.5B | 36.5× | 31.5× | 5.5× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $202.8B | 26.4× | 17.4× | 5.5× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $183.3B | 21.8× | 20.0× | 6.2× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.2B | 27.5× | 19.3× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $156.1B | 20.2× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $147.3B | 41.3× | 30.5× | 6.0× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $135.8B | 48.6× | 37.3× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $130.4B | 33.5× | 28.6× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $129.4B | 18.4× | — | 2.7× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.5B | 24.8× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| LGVN | $117.4B | — | — | 97924.4× | -49.9% | 67.0% | -1894% | -400% | -400% | — | 31 |
| CVS | $116.6B | 66.0× | 11.7× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $108.8B | 33.9× | 18.7× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $103.4B | 23.1× | 16.3× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.7B | 15.2× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.1B | 16.4× | 15.4× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $81.0B | 18.7× | 19.4× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| NVAX | $1.5B | 3.6× | 3.2× | 1.4× | 64.7% | 93.5% | 39.2% | -345% | 378% | 0.5× | 251 |
Peers = companies sharing NVAX's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.12B 100.0% | $682.2M 100.0% | $983.7M 100.0% | $1.98B 100.0% | $1.15B 100.0% | $475.6M 100.0% | $18.7M 100.0% | $34.3M 100.0% | $31.2M 100.0% | $15.4M 100.0% |
| Cost of Revenue | $73.0M 6.5% | $202.7M 29.7% | $343.8M 34.9% | $902.6M 45.5% | $0 0.0% | $0 0.0% | — | — | — | — |
| Research & Development | $342.3M 30.5% | $391.2M 57.3% | $737.5M 75.0% | $1.24B 62.3% | $2.53B 221.1% | $747.0M 157.1% | $113.8M 610.0% | $173.8M 506.9% | $168.4M 540.3% | $237.9M 1549.8% |
| Selling, General & Admin | $157.5M 14.0% | $337.2M 49.4% | $468.9M 47.7% | $488.7M 24.7% | $298.4M 26.0% | $145.3M 30.5% | $34.4M 184.4% | $34.4M 100.4% | $34.5M 110.5% | $46.5M 303.0% |
| Total Operating Expenses | $670.7M 59.7% | $931.1M 136.5% | $1.55B 157.6% | $2.63B 132.5% | $2.83B 247.1% | $892.3M 187.6% | $139.2M 746.1% | $208.2M 607.2% | $202.9M 650.8% | $284.5M 1852.8% |
| Operating Income | $452.8M 40.3% | -$248.9M -36.5% | -$566.5M -57.6% | -$644.7M -32.5% | -$1.69B -147.1% | -$416.7M -87.6% | -$120.6M -646.1% | -$173.9M -507.2% | -$171.7M -550.8% | -$269.1M -1752.8% |
| Interest Expense | $22.5M 2.0% | $20.1M 2.9% | $14.4M 1.5% | $19.9M 1.0% | $21.1M 1.8% | $15.1M 3.2% | $13.6M 72.9% | $13.6M 39.7% | $14.1M 45.1% | $13.0M 84.4% |
| Interest & Investment Income | $29.5M 2.6% | $37.2M 5.5% | $20.1M 2.0% | — | — | — | — | — | — | — |
| Other Income (Expense), net | $40.6M 3.6% | $40.4M 5.9% | $37.9M 3.9% | $11.0M 0.6% | -$6.8M -0.6% | $13.6M 2.9% | -$13K -0.1% | $108K 0.3% | $67K 0.2% | -$31K -0.2% |
| Pretax Income | $442.2M 39.4% | -$176.6M -25.9% | -$543.0M -55.2% | -$653.6M -33.0% | -$1.71B -149.6% | -$418.3M -87.9% | -$132.7M -711.0% | — | — | — |
| Income Tax Expense | $1.9M 0.2% | $10.9M 1.6% | $2.0M 0.2% | $4.3M 0.2% | $29.2M 2.5% | $0 0.0% | $0 0.0% | — | — | — |
| Net Income | $440.3M 39.2% | -$187.5M -27.5% | -$545.1M -55.4% | -$657.9M -33.2% | -$1.74B -152.1% | -$418.3M -87.9% | -$132.7M -711.0% | -$184.7M -538.8% | -$183.8M -589.5% | -$280.0M -1823.5% |
| Per Share | ||||||||||
| EPS (Basic) | $2.72 | $-1.23 | $-5.41 | $-8.42 | $-23.44 | $-7.27 | $-5.51 | — | — | — |
| EPS (Diluted) | $2.58 | $-1.23 | $-5.41 | $-8.42 | $-23.44 | $-7.27 | $-5.51 | — | — | — |
| Weighted Avg Shares (Basic) | 162.0M | 152.2M | 100.8M | 78.2M | 74.4M | 57.6M | 24.1M | — | — | — |
| Weighted Avg Shares (Diluted) | 173.1M | 152.2M | 100.8M | 78.2M | 74.4M | 57.6M | 24.1M | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
5/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$250M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 378%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~9.2% on $244M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
Nothing notable to watch.
Where each multiple sits in its own 14-yr range · 21th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | — | — | 0.0 | 0.0 | 45.5 | 34.9 | 29.7 | 6.5 |
| R&D | 506.9 | 610.0 | 157.1 | 221.1 | 62.3 | 75.0 | 57.3 | 30.5 |
| SG&A | 100.4 | 184.4 | 30.5 | 26.0 | 24.7 | 47.7 | 49.4 | 14.0 |
| Operating Income | -507.2 | -646.1 | -87.6 | -147.1 | -32.5 | -57.6 | -36.5 | 40.3 |
| Income Tax | — | 0.0 | 0.0 | 2.5 | 0.2 | 0.2 | 1.6 | 0.2 |
| Net Income | -538.8 | -711.0 | -87.9 | -152.1 | -33.2 | -55.4 | -27.5 | 39.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NVAX: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.