NVAX
Novavax Inc Health Care Biological Products, (No Diagnostic Substances) Russell 3000
$10.08Close
$1.6BMarket cap
$6.22 – $12.8252-week range
Nov 5, 2026Next report · before the open
Highlights
Strengths
- Leading the market RS 82 · stronger than 82% of stocks over 12 months
Cautions
- Trend not confirmed 6 of 8 conditions · 150-day under the 200-day, under the 50-day
- Earnings shrinking EPS −154% year on year
- Results soon Nov 5, 2026, in 4 days
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
21%
1wk
up 3.9%
price change
1mo
down 6.8%
price change
12-month return
up 20%
market up 11% ·
its own up 9%
F-score
5 / 9
Mixed
Altman Z
-1.93
Elevated risk
P/E
3.7×
price / earnings
PEG
—
P/E / EPS growth
P/B
—
price / book
Earnings yield
up 27.6%
EBIT / enterprise value
Cheaper than
52%
of the market · around average
Revenue growth
up 65%
year on year
EPS growth
down 154%
latest quarter · -52 pts
Sales growth
down 76%
latest quarter · +3 pts
ROE
—
return on equity
Free cash margin
down 22%
-$244.6M FCF
D/E
—
long-term debt / equity
Net debt / EBITDA
0.0×
Interest cover
39.3×EBIT / interest
Piotroski tests
- operating cash flow is negative
- profits not fully backed by cash
- took on more long-term debt
- issued more shares
- profitable on its assets
- profitability improving
- short-term liquidity improved
- gross margin widened
- assets working harder
Repair signals
- Gross margin 70.3% → 93.5%
- Revenue reaccelerating (-31% then +65%)
Trade setup
ATR%
8.6%
$0.87 a day · 2×ATR $8.34
RS
82 / 99
vs the universe
Trend
6 / 8
150-day under the 200-day, under the 50-day
Relative volume
0.6×
vs 50-day average
Up/down volume
1.31
50 sessions
Implied move
—
no option chain · report Nov 5, 2026
Trend template · 6 of 8
- 150-day average above the 200-day: fails
- Price above the 50-day average: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- Material impairment The company disclosed a material impairment - an asset written down below the value the balance sheet had been carrying.
- Liabilities exceed assets Shareholders' equity is negative at -$127.8M as of Dec 31, 2025. What is left for shareholders after creditors is, on the balance sheet, less than nothing.
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
- Profit not backed by cash Reported profit of $440.3M came with -$244.6M of operating cash flow. Profit that cash does not follow is the classic signature of aggressive accounting.
Last reported
Aug 6, 2026
Last shock
Oct 6, 2026-10% in one session3.4× volumeno filing matched-11% since
Financials
- Gross 93%
- Net 39%
- Free cash -22%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $475.6M | $1.1B | $2.0B | $983.7M | $682.2M | $1.1B |
| Gross margin | 100% | 100% | 54% | 65% | 70% | 93% |
| Operating income | -$416.7M | -$1.7B | -$644.7M | -$566.5M | -$248.9M | $452.8M |
| Net income | -$418.3M | -$1.7B | -$657.9M | -$545.1M | -$187.5M | $440.3M |
| Net margin | -88% | -152% | -33% | -55% | -27% | 39% |
| Earnings per share | -$7.27 | -$23.44 | -$8.42 | -$5.41 | -$1.23 | $2.54 |
| Free cash flow | -$97.2M | $265.5M | -$415.9M | -$714.0M | -$87.3M | -$244.6M |
| Free cash margin | -20% | 23% | -21% | -73% | -13% | -22% |
| Cash | $553.4M | $1.5B | $1.3B | $568.5M | $530.2M | $240.6M |
| Long-term debt | — | — | — | — | — | $244.2M |
| Shareholders' equity | $627.2M | -$351.7M | -$634.1M | -$716.9M | -$623.8M | -$127.8M |
| Shares outstanding | 70.95m | 75.84m | 86.04m | 139.51m | 160.42m | 162.58m |
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Aug 6, 2026 | Quarterly ↗ | Jun 30, 2026 | 37d |
| May 6, 2026 | Quarterly ↗ | Mar 31, 2026 | 36d |
| Feb 26, 2026 | Annual ↗ | Dec 31, 2025 | 57d |
| Nov 6, 2025 | Quarterly ↗ | Sep 30, 2025 | 37d |
| Aug 6, 2025 | Quarterly ↗ | Jun 30, 2025 | 37d |
| May 8, 2025 | Quarterly ↗ | Mar 31, 2025 | 38d |
| Feb 27, 2025 | Annual ↗ | Dec 31, 2024 | 58d |
| Nov 12, 2024 | Quarterly ↗ | Sep 30, 2024 | 43d |
| Aug 8, 2024 | Quarterly ↗ | Jun 30, 2024 | 39d |
| May 10, 2024 | Quarterly ↗ | Mar 31, 2024 | 40d |
| Feb 28, 2024 | Annual ↗ | Dec 31, 2023 | 59d |
| Nov 9, 2023 | Quarterly ↗ | Sep 30, 2023 | 40d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 29, 2026 | Regulation FD · Other events ↗ |
| Aug 6, 2026 | Results ↗ |
| Jun 23, 2026 | Shareholder vote ↗ |
| May 6, 2026 | Results ↗ |
| Feb 26, 2026 | Results ↗ |
| Jan 20, 2026 | Material agreement ↗ |
| Jan 12, 2026 | Results · Regulation FD ↗ |
| Nov 6, 2025 | Results ↗ |
| Nov 4, 2025 | Regulation FD · Other events ↗ |
| Oct 22, 2025 | Material agreement · Impairment · Other events ↗ |
| Oct 7, 2025 | Regulation FD · Other events ↗ |
| Aug 27, 2025 | Material agreement · New obligation · Unregistered share sale ↗ |