What is Novavax's EV / sales?

Novavax (NVAX) reported EV / sales of 2.3× in Q1 2026.

How has Novavax's EV / sales changed year-over-year?

Novavax's EV / sales increased by 254.8% year-over-year, from 0.7× to 2.3×.

What is the long-term trend for Novavax's EV / sales?

Over 5 years (2020 to 2025), Novavax's EV / sales has grown at a -43.3% compound annual growth rate (CAGR), from 17.2× to 1×.

What does EV / sales mean?

Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.

Novavax NVAX EV / sales

EV / sales at other companies

ModernaMRNA

8.8×+5.6×

Roivant SciencesROIV

2,241.3×+1,993×

Merck & Co.MRK

5.2×+1.2×

Viridian Therapeutics, Inc.VRDN

26.2×-3,303×

ALN

Alnylam PharmaceuticalsALNY

9.9×-4.7×

Gilead SciencesGILD

6.3×+0.9×

Other financials

Income statement

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Revenue$139.5M-79.1%

Gross profit$108.8M-83.3%

Operating income-$15.4M-103%

Net income-$9.5M-102%

EPS (diluted)-$0.06-102%

Balance sheet

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Cash & equivalents$228.4M-13.3%

Total debt$295.1M+404%

Total equity-$144.8M-91.4%

Total assets$1.0B-19.3%

Cash flow

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Operating cash flow-$32.4M+82.5%

CapEx$1.3M-20.4%

Free cash flow-$33.7M+82.0%

Valuation

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Market cap$1.46B+41.0%

Enterprise value$1.53B+83.6%

P/S2.5×+1.6×

Profitability

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Gross margin85%-2.5pp

Operating margin-13.1%-45.9pp

Net margin-14.7%-52.9pp

FCF margin-58.9%-61.4pp

Returns & leverage

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Return on equity-238.6%—

Debt / equity1.5×—

Current ratio2.5×+0.4×

Where this comes from

Calculated from Novavax’s reported figures.

enterprise value/total revenue=2.3×

Based on the most recent quarter.

The official record: Novavax’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Novavax's EV / sales?: Novavax (NVAX) reported EV / sales of 2.3× in Q1 2026.
How has Novavax's EV / sales changed year-over-year?: Novavax's EV / sales increased by 254.8% year-over-year, from 0.7× to 2.3×.
What is the long-term trend for Novavax's EV / sales?: Over 5 years (2020 to 2025), Novavax's EV / sales has grown at a -43.3% compound annual growth rate (CAGR), from 17.2× to 1×.
What does EV / sales mean?: Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.