Vaxcyte (PCVX) financial statements
Net income was -$767M.
Free cash flow was -$669M.
The diluted share count rose 3649% over the period (dilution).
Income statement
Fiscal years, from Vaxcyte's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Research and development | $30M | $46M | $74M | $78M | $169M | $332M | $477M | $794M |
| Selling, general and admin | $5M | $9M | $16M | $25M | $40M | $61M | $93M | $129M |
| Operating income | -$36M | -$54M | -$90M | -$104M | -$232M | -$468M | -$570M | -$924M |
| Interest expense | $75,000 | $40,000 | $7,000 | $7,000 | $2,000 | $0 | $0 | — |
| Income tax | — | — | — | — | — | $0 | $0 | $0 |
| Net income | -$29M | -$50M | -$89M | -$100M | -$223M | -$402M | -$464M | -$767M |
| EPS (diluted) | -$8.12 | -$13.25 | -$3.02 | -$1.93 | -$3.44 | -$4.14 | -$3.80 | -$5.63 |
| Diluted shares | 4M | 4M | 30M | 52M | 65M | 97M | 122M | 136M |
Balance sheet
Fiscal years, from Vaxcyte's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $66M | $59M | $386M | $246M | $931M | $1.1B | $1.7B | $1.6B |
| Total current assets | — | $62M | $389M | $256M | $943M | $1.1B | $1.8B | $1.6B |
| Property, plant and equipment | — | $3M | $3M | $8M | $10M | $80M | $198M | $257M |
| Total assets | — | $66M | $393M | $324M | $1.0B | $1.4B | $3.5B | $3.0B |
| Total current liabilities | — | $11M | $47M | $29M | $41M | $145M | $140M | $206M |
| Total liabilities | — | $12M | $47M | $40M | $53M | $167M | $205M | $317M |
| Shareholders' equity | -$58M | -$106M | $346M | $284M | $954M | $1.2B | $3.3B | $2.7B |
| Net debt | -$66M | -$59M | -$386M | -$69M | -$835M | -$397M | -$388M | -$174M |
Cash flow
Fiscal years, from Vaxcyte's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$30M | -$47M | -$47M | -$121M | -$171M | -$297M | -$453M | -$656M |
| Capital spending | $2M | $1M | $1M | $7M | $6M | $16M | $22M | $14M |
| Free cash flow | -$32M | -$48M | -$48M | -$128M | -$176M | -$313M | -$475M | -$669M |
| Stock-based compensation | $749,000 | $1M | $5M | $11M | $24M | $49M | $85M | $139M |
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How much free cash flow does Vaxcyte generate?
-$669M in fiscal 2025 (operating cash flow minus capital spending).
From Vaxcyte's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.