Novavax, Inc. (NVAX) vs Xencor, Inc. (XNCR)

Novavax, Inc. and Xencor, Inc. are both Biotechnology companies. Novavax, Inc. and Xencor, Inc. are of similar size ($1.8B and $1.8B). Xencor, Inc. grew revenue faster over the last twelve months: −28.6% against −61.6%. Novavax, Inc. has the higher net margin (−59.9% vs −155.6%) and the higher return on invested capital (0.00% vs −288.7%). Across the 17 metrics below, Novavax, Inc. leads on 12 and Xencor, Inc. on 5.

Valuation

Metric NVAX XNCR Biotechnology median
P/E n/m n/m 7.88
P/S 4.23 17.20 11.47
P/B n/m 3.59 2.52
Price to free cash flow n/m n/m 21.16
EV/EBITDA n/m n/m 0.74
EV/Sales 3.20 13.99 10.73
Earnings yield (14.30%) (9.12%) (28.84%)
Free cash flow yield (2.52%) (11.59%) (23.03%)

Profitability

Metric NVAX XNCR Biotechnology median
Gross margin 78.60% 100.00% 65.16%
Operating margin (56.58%) (205.84%) 0.00%
Net margin (59.87%) (155.59%) 0.00%
Free cash flow margin (10.20%) (198.42%) 0.00%
Return on equity 323.66% (29.07%) (57.72%)
Return on assets (21.62%) (20.36%) (49.22%)
Return on invested capital 0.00% (288.71%) 0.00%

Growth

Metric NVAX XNCR Biotechnology median
Revenue growth (TTM) (61.64%) (28.56%) 5.64%
EPS growth (last fiscal year) 309.76% 65.36% —
Revenue growth, 5-year CAGR 18.76% 0.47% 8.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric NVAX XNCR Biotechnology median
Debt to equity (1.54) 0.00 0.00
Current ratio 2.33 6.39 4.73
Net debt to EBITDA (1.04) 2.51 0.96

Dividend

Metric NVAX XNCR Biotechnology median
Dividend yield — — 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric NVAX XNCR Biotechnology median
Market cap 1.75b 1.79b 162.10m

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