Financials Novavax, Inc.

Equities

NVAX

US6700024010

Biotechnology & Medical Research

Market Closed - Nasdaq Other stock markets 04:00:00 2026-03-06 pm EST			5-day change	1st Jan Change
9.980 ^USD	-0.10%		-1.58%	+48.51%

Mar. 03	Novavax, Inc. Presents at TD Cowen 46th Annual Health Care Conference, Mar-03-2026 02:30 PM
Feb. 26	Health Care Down Amid Mixed Earnings -- Health Care Roundup	DJ

Projected Income Statement: Novavax, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	1,146	1,982	983.7	682.2	1,123	383.5	245.4	338.9
Change	-	72.89%	-50.36%	-30.65%	64.69%	-65.87%	-36.01%	38.11%
EBITDA ¹	-	-615.7	-525.3	-200.4	-	-24.18	-49.22	-45.37
Change	-	-	14.68%	61.84%	-	-	-103.56%	7.82%
EBIT ¹	-1,687	-644.7	-566.5	-248.9	550.6	-53.1	-46.24	57.33
Change	-	61.77%	12.13%	56.06%	321.2%	-109.64%	12.93%	223.99%
Interest Paid ¹	-21.13	-19.88	-14.42	-20.08	-	-13.15	-21.9	-29.9
Earnings before Tax (EBT) ¹	-1,715	-653.6	-543	-176.6	442.2	-72.47	-57.08	41.24
Change	-	61.88%	16.92%	67.48%	350.36%	-116.39%	21.24%	172.25%
Net income ¹	-1,744	-657.9	-545.1	-187.5	440.3	-57.9	-54.43	39.34
Change	-	62.27%	17.16%	65.6%	334.83%	-113.15%	5.99%	172.27%
Announcement Date	2/28/22	2/28/23	2/28/24	2/27/25	2/26/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	447.2	298	178.8	222.2	704	185.9	734.6	357.4	80.95	424.4	187	291.3	93.86	415.5	84.51	88.31	666.7	239.2	70.44	147.1	78.29	72.28	125.7	121.8	12.71	10.49	261.6	148.2
Change	-	-33.36%	-39.99%	24.24%	216.82%	-73.59%	295.09%	-51.35%	-77.35%	424.3%	-55.94%	55.81%	-67.79%	342.69%	-79.66%	4.5%	654.89%	-64.11%	-70.55%	108.87%	-46.79%	-7.67%	73.9%	-3.11%	-89.57%	-17.42%	2,392.79%	-43.36%
EBITDA ¹	-	-	-	-	-	-	-118.8	-	-	-	-	-172.8	-132.7	-	-	-	-	108.6	-171.4	-	-49.74	-56.07	15.39	1.746	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	23.2%	-	-	-	-	-	-257.81%	-	-	-12.73%	127.44%	-88.66%	-	-	-	-
EBIT ¹	-208.6	-345.8	-307.1	-825	209.3	-483	-127.2	-243.9	-312.8	55.46	-125.6	-183.6	-144.8	161	-134	-131.1	515.5	101.1	-178	15.04	-32.75	-12.66	10.11	20.58	-76.9	-68.8	189.4	79.18
Change	-	-65.76%	11.19%	-168.59%	125.37%	-330.76%	73.66%	-91.75%	-28.25%	117.73%	-326.54%	-46.12%	21.1%	211.16%	-183.24%	2.19%	493.28%	-80.39%	-276.13%	108.45%	-317.79%	61.35%	179.89%	103.51%	-473.69%	10.53%	375.22%	-58.18%
Charge d'intérêts ¹	-4.839	-5.968	-5.182	-5.138	-4.876	-6.234	-4.169	-4.601	-4.316	-3.124	-2.859	-4.117	-4.111	-4.143	-4.236	-7.585	-5.723	-5.518	-5.482	-	-5.849	-0.724	-5.849	-0.724	-5.869	-0.743	-5.869	-1.429
Earnings before Tax (EBT) ¹	-219.7	-348.8	-316.4	-829.7	206.1	-509.1	-166.1	-184.5	-292.7	57.86	-131.5	-176.7	-145.3	164.6	-122.3	-73.58	519.8	107.5	-203	17.9	-20.33	3.368	39.59	-30.63	-70.66	-58.03	194.4	90.19
Change	-	-58.75%	9.28%	-162.23%	124.84%	-347.04%	67.36%	-11.06%	-58.65%	119.77%	-327.21%	-34.4%	17.78%	213.28%	-174.33%	39.85%	806.49%	-79.33%	-288.95%	108.82%	-213.58%	116.57%	1,075.4%	-177.37%	-130.66%	17.88%	435.02%	-53.61%
Net income ¹	-222.7	-352.3	-322.4	-846.3	203.4	-510.5	-168.6	-182.2	-293.9	58.01	-130.8	-178.4	-147.6	162.4	-121.3	-81.03	518.6	106.5	-202.4	17.53	-40.21	-15.91	-7.947	12.99	-70.66	-58.03	186.2	83.27
Change	-	-58.19%	8.48%	-162.47%	124.04%	-350.97%	66.97%	-8.09%	-61.27%	119.74%	-325.44%	-36.41%	17.29%	210.05%	-174.7%	33.2%	740.07%	-79.46%	-290.01%	108.66%	-329.4%	60.43%	50.06%	263.45%	-644.01%	17.88%	420.95%	-55.29%
Announcement Date	5/10/21	8/5/21	11/4/21	2/28/22	5/9/22	8/8/22	11/8/22	2/28/23	5/9/23	8/8/23	11/9/23	2/28/24	5/10/24	8/8/24	11/12/24	2/27/25	5/8/25	8/6/25	11/6/25	2/26/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Novavax, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-1,061	-1,112	-400	-753	-	219	303	-
Change	-	-4.81%	64.03%	-88.25%	-	-	38.36%	-
Announcement Date	2/28/22	2/28/23	2/28/24	2/27/25	2/26/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Novavax, Inc.

Fiscal Period: December	2021	2022	2023	2024	2026	2027	2028
CAPEX ¹	57.49	89.06	53.77	13.06	7.497	3.549	3.739
Change	-	54.92%	-39.62%	-75.72%	-	-52.66%	5.35%
Free Cash Flow (FCF) ¹	265.5	-505	-767.7	-100.3	118	-99	271
Change	-	-290.23%	-52.03%	86.93%	-	-183.9%	373.74%
Announcement Date	2/28/22	2/28/23	2/28/24	2/27/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Novavax, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	-	-31.07%	-53.4%	-29.38%	-	-6.31%	-20.06%	-13.39%
EBIT Margin (%)	-147.13%	-32.53%	-57.59%	-36.49%	49.01%	-13.85%	-18.84%	16.92%
EBT Margin (%)	-149.57%	-32.98%	-55.2%	-25.89%	39.36%	-18.9%	-23.26%	12.17%
Net margin (%)	-152.12%	-33.2%	-55.41%	-27.49%	39.19%	-15.1%	-22.18%	11.61%
FCF margin (%)	23.16%	-25.48%	-78.05%	-14.71%	-	30.77%	-40.35%	79.97%
FCF / Net Income (%)	-15.22%	76.75%	140.85%	53.5%	-	-203.81%	181.89%	688.94%
Profitability
ROA	-83.85%	-27.21%	-26.88%	-11.17%	-	0.1%	-16.15%	-
ROE	-1,265.72%	-	-	-	-	-	-	-
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-9.06x	-6.16x	-
Debt / Free cash flow	-	-	-	-	-	1.86x	-3.06x	-
Capital Intensity
CAPEX / Current Assets (%)	5.01%	4.49%	5.47%	1.91%	-	1.96%	1.45%	1.1%
CAPEX / EBITDA (%)	-	-14.46%	-10.24%	-6.51%	-	-31%	-7.21%	-8.24%
CAPEX / FCF (%)	21.66%	-17.64%	-7%	-13.02%	-	6.35%	-3.59%	1.38%
Items per share
Cash flow per share ¹	-	-5.32	-7.085	-0.5734	-	-0.1265	-1.159	-
Change	-	-	-33.18%	91.91%	-	-	-816.61%	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-4.637	-7.436	-5.139	-3.889	-	-3.511	-3.665	-
Change	-	-60.36%	30.89%	24.33%	-	-	-4.38%	-
EPS ¹	-23.44	-8.42	-5.41	-1.23	2.58	-0.3563	-0.3249	0.2287
Change	-	64.08%	35.75%	77.26%	309.76%	-113.81%	8.81%	170.38%
Nbr of stocks (in thousands)	75,608	85,979	118,790	160,185	162,499	162,936	162,936	162,936
Announcement Date	2/28/22	2/28/23	2/28/24	2/27/25	2/26/26	-	-	-