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Novavax NVAX Operating margin

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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
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 operating margin?
Novavax (NVAX) reported operating margin of -56.6% in Q2 2026.
How has Novavax's operating margin changed year-over-year?
Novavax's operating margin decreased by 273.6% year-over-year, from 32.6% to -56.6%.
What is the long-term trend for Novavax's operating margin?
Over 5 years (2020 to 2025), Novavax's operating margin has grown at a -14.4% compound annual growth rate (CAGR), from -87.6% to 40.3%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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