Novavax, Inc. (NVAX) vs Vericel Corporation (VCEL)

Novavax, Inc. and Vericel Corporation are both Biotechnology companies. Novavax, Inc. and Vericel Corporation are of similar size ($2.1B and $2.1B). Novavax, Inc. has negative trailing earnings, so its P/E is not meaningful; Vericel Corporation trades at 83.6×. Vericel Corporation grew revenue faster over the last twelve months: 23.0% against −61.6%. Vericel Corporation has the higher net margin (7.91% vs −59.9%) and the higher return on invested capital (5.49% vs 0.00%). Across the 18 metrics below, Vericel Corporation leads on 11 and Novavax, Inc. on 7.

Valuation

Metric NVAX VCEL Biotechnology median
P/E n/m 83.60 8.50
P/S 4.48 6.69 9.71
P/B n/m 5.54 2.13
Price to free cash flow n/m 33.24 20.82
EV/EBITDA n/m 60.89 0.64
EV/Sales 3.45 6.22 9.21
Earnings yield (13.50%) 1.20% (33.15%)
Free cash flow yield (2.38%) 3.01% (25.50%)

Profitability

Metric NVAX VCEL Biotechnology median
Gross margin 78.60% 74.56% 65.16%
Operating margin (56.58%) 5.95% 0.00%
Net margin (59.87%) 7.91% 0.00%
Free cash flow margin (10.20%) 20.13% 0.00%
Return on equity 323.66% 7.16% (56.36%)
Return on assets (21.62%) 5.16% (48.04%)
Return on invested capital 0.00% 5.49% 0.00%

Growth

Metric NVAX VCEL Biotechnology median
Revenue growth (TTM) (61.64%) 22.95% 6.02%
EPS growth (last fiscal year) 309.76% 60.00% 30.26%
Revenue growth, 5-year CAGR 18.76% 17.34% 9.41%
Net income growth, 5-year CAGR 0.00% 41.97% 0.00%

Health

Metric NVAX VCEL Biotechnology median
Debt to equity (1.54) 0.00 0.00
Current ratio 2.33 5.04 4.72
Net debt to EBITDA (1.04) (6.08) 0.96

Dividend

Metric NVAX VCEL Biotechnology median
Dividend yield — — 0.09%
Payout ratio — — —

Size

Metric NVAX VCEL Biotechnology median
Market cap 2.11b 2.10b 135.18m

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