Novavax Inc.
Find Ratings ReportsNOVAVAX INC's gross profit margin for the third quarter of its fiscal year 2023 has significantly decreased when compared to the same period a year ago. Even though sales decreased, the net income has increased. NOVAVAX INC has weak liquidity. Currently, the Quick Ratio is 0.53 which shows a lack of ability to cover short-term cash needs. The liquidity decreased from the same period a year ago, despite already having weak liquidity to begin with. This would indicate deteriorating cash flow.
During the same period, stockholders' equity ("net worth") has decreased by 19.85% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.
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Income Statement | Q3 FY23 | Q3 FY22 |
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Net Sales ($mil) | 186.99 | 734.58 |
EBITDA ($mil) | -114.45 | -192.94 |
EBIT ($mil) | -125.77 | -201.29 |
Net Income ($mil) | -130.78 | -168.61 |
Balance Sheet | Q3 FY23 | Q3 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 661.5 | 1291.37 |
Total Assets ($mil) | 1657.16 | 2267.44 |
Total Debt ($mil) | 222.11 | 438.09 |
Equity ($mil) | -678.35 | -565.99 |
Profitability | Q3 FY23 | Q3 FY22 |
---|---|---|
Gross Profit Margin | -61.21 | -26.27 |
EBITDA Margin | -61.2 | -26.26 |
Operating Margin | -67.26 | -27.4 |
Sales Turnover | 0.63 | 0.81 |
Return on Assets | -33.12 | -58.3 |
Return on Equity | 0.0 | 0.0 |
Debt | Q3 FY23 | Q3 FY22 |
---|---|---|
Current Ratio | 0.69 | 1.06 |
Debt/Capital | -0.49 | -3.43 |
Interest Expense | 2.86 | 4.17 |
Interest Coverage | -43.99 | -48.28 |
Share Data | Q3 FY23 | Q3 FY22 |
---|---|---|
Shares outstanding (mil) | 118.73 | 78.48 |
Div / share | 0.0 | 0.0 |
EPS | -1.26 | -2.15 |
Book value / share | -5.71 | -7.21 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 9392105.0 | 7605198.0 |
SELL. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. Along with this, the price-to-book ratio is also meaningless due to a negative book value for the company, making any comparisons useless. The price-to-sales ratio is well below both the S&P 500 average and the subsector average, indicating a discount.
Price/Earnings |
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Price/Cash Flow |
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NVAX NM | Peers 85.83 | NVAX NM | Peers 38.76 | |||||||||||||||||||||
Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings. NVAX's P/E is negative making this valuation measure meaningless. |
Neutral. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. NVAX's P/CF is negative making the measure meaningless. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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NVAX NM | Peers 18.08 | NVAX NA | Peers 1.16 | |||||||||||||||||||||
Neutral. The absence of a valid price-to-projected earnings ratio happens when a stock can not be valued on the basis of a negative expected future earnings. NVAX's ratio is negative making this valuation measure meaningless. |
Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. Ratio not available. |
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Price/Book |
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Earnings Growth |
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NVAX NM | Peers 19.07 | NVAX 63.18 | Peers 12.58 | |||||||||||||||||||||
Neutral. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. NVAX's P/B is negative making this valuation measure meaningless. |
Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. NVAX is expected to have an earnings growth rate that significantly exceeds its peers. |
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Price/Sales |
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Sales Growth |
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NVAX 0.56 | Peers 84.44 | NVAX -43.16 | Peers 42.35 | |||||||||||||||||||||
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. NVAX is trading at a significant discount to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. NVAX significantly trails its peers on the basis of sales growth. |
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