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Novavax NVAX Gross margin

Gross margin at other companies

Moderna logo
ModernaMRNA
23.4%-29.1pp
Merck & Co. logo
Merck & Co.MRK
73%-3.6pp
ALN
Alnylam PharmaceuticalsALNY
79.8%-4.1pp
Gilead Sciences logo
Gilead SciencesGILD
79.6%+1.1pp
ImmunityBio, Inc. logo
ImmunityBio, Inc.IBRX
99.3%-0.5pp

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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Operating margin-56.6%-89.2pp
Net margin-59.9%-99.1pp
FCF margin-59%-61.5pp

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, 2026. Open the filing →

Filed
Aug 6, 2026, 7:50 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001000694-26-000018

FAQ

What is Novavax's gross margin?
Novavax (NVAX) reported gross margin of 78.6% in Q2 2026.
How has Novavax's gross margin changed year-over-year?
Novavax's gross margin decreased by 10.9% year-over-year, from 88.3% to 78.6%.
What is the long-term trend for Novavax's gross margin?
Over 5 years (2020 to 2025), Novavax's gross margin has grown at a -1.3% compound annual growth rate (CAGR), from 100% to 93.5%.
What does gross margin mean?
Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.

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