Novavax (NVAX)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from NVAX's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Novavax's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.1B | $2.0B | $984M | $682M | $1.1B |
| Net income | -$1.7B | -$658M | -$545M | -$187M | $440M |
| Free cash flow | $262M | -$509M | -$773M | -$102M | -$251M |
| EPS (diluted) | -$23.44 | -$8.42 | -$5.41 | -$1.23 | $2.58 |
| Operating margin | -147.1% | -32.5% | -57.6% | -36.5% | 40.3% |
Where the revenue comes from
Revenue by products, fiscal 2025. Every breakdown, year by year.
Superinvestors who own NVAX
From each investor's latest 13F filing (what a 13F shows). 2 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Philippe Laffont Coatue Management |
Held | $36M | 0.07% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $9M | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by Novavax's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are Novavax insiders buying the stock?
No open-market insider purchases of NVAX in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own Novavax?
2 of the superinvestors Investingly tracks hold NVAX in their latest 13F, including Philippe Laffont, Cliff Asness.
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Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.