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Novavax NVAX Free cash flow margin

Free cash flow margin at other companies

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ModernaMRNA
-132.4%
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Merck & Co.MRK
24.1%+1.0pp
ALN
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16.5%+14.8pp
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Roivant SciencesROIV
-10,901%-22,382pp
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42.5%+10.0pp
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ImmunityBio, Inc.IBRX
-212%-95.8pp

Other financials

Income statement

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Revenue$56.7M-76.3%
Gross profit$42.5M-81.0%
Operating income-$54.9M-154%
Net income-$53.4M-150%
EPS (diluted)-$0.32-152%

Balance sheet

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Cash & equivalents$191.5M-24.5%
Total debt$297.3M+413%
Total equity-$190.7M-607%
Total assets$955.6M-28.5%

Cash flow

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Operating cash flow-$72.8M+42.9%
CapEx$588.0K+11.6%
Free cash flow-$73.4M+42.7%

Valuation

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Market cap$1.27B+3.7%
Enterprise value$1.38B+33.6%
P/S3.1×+1.9×

Profitability

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Gross margin78.6%-9.6pp
Operating margin-56.6%-89.2pp
Net margin-59.9%-99.1pp

Returns & leverage

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Return on equity-238.6%
Debt / equity1.5×
Current ratio2.3×0.0×

Where this comes from

Calculated from Novavax’s reported figures.

Based on trailing twelve months.

The source filing: Novavax’s 10-Q, filed August 6, 2025. Open the filing →

Filed
Aug 6, 2025
Fiscal quarter
Q2 FY2025
Calendar quarter
Q2 2025
Accession
0001000694-25-000029

FAQ

What is Novavax's free cash flow margin?
Novavax (NVAX) reported free cash flow margin of -59% in Q2 2025.
How has Novavax's free cash flow margin changed year-over-year?
Novavax's free cash flow margin decreased by 2492.8% year-over-year, from -2.3% to -59%.
What is the long-term trend for Novavax's free cash flow margin?
Over 3 years (2020 to 2024), Novavax's free cash flow margin has grown at a -10.3% compound annual growth rate (CAGR), from -20.4% to -14.7%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

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