What is Novavax's net margin?

Novavax (NVAX) reported net margin of -14.7% in Q1 2026.

How has Novavax's net margin changed year-over-year?

Novavax's net margin decreased by 138.6% year-over-year, from 38.1% to -14.7%.

What is the long-term trend for Novavax's net margin?

Over 5 years (2020 to 2025), Novavax's net margin has grown at a -14.9% compound annual growth rate (CAGR), from -87.9% to 39.2%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Novavax NVAX Net margin

Net margin at other companies

ModernaMRNA

-143.6%+80.2pp

Roivant SciencesROIV

-6,079.9%-6,193pp

Merck & Co.MRK

13.6%-13.7pp

Viridian Therapeutics, Inc.VRDN

-508.5%-254pp

ALN

Alnylam PharmaceuticalsALNY

11.7%+8.0pp

Gilead SciencesGILD

31%+10.2pp

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

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.

net income/total revenue=-14.7%

Based on trailing twelve months.

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 net margin?: Novavax (NVAX) reported net margin of -14.7% in Q1 2026.
How has Novavax's net margin changed year-over-year?: Novavax's net margin decreased by 138.6% year-over-year, from 38.1% to -14.7%.
What is the long-term trend for Novavax's net margin?: Over 5 years (2020 to 2025), Novavax's net margin has grown at a -14.9% compound annual growth rate (CAGR), from -87.9% to 39.2%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.