Novavax, Inc. (NVAX) vs Zenas BioPharma, Inc. (ZBIO)

Novavax, Inc. and Zenas BioPharma, Inc. are both Biotechnology companies. Novavax, Inc. and Zenas BioPharma, Inc. are of similar size ($1.8B and $1.8B). Zenas BioPharma, Inc. has the higher net margin (0.00% vs −59.9%) and the higher return on invested capital (0.00% vs 0.00%). Across the 11 metrics below, Novavax, Inc. leads on 7 and Zenas BioPharma, Inc. on 4.

Valuation

Metric NVAX ZBIO Biotechnology median
P/E n/m n/m 7.88
P/S 4.23 n/m 11.47
P/B n/m 6.95 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 n/m 10.73
Earnings yield (14.30%) (33.02%) (28.84%)
Free cash flow yield (2.52%) (13.15%) (23.03%)

Profitability

Metric NVAX ZBIO Biotechnology median
Gross margin 78.60% — 65.16%
Operating margin (56.58%) 0.00% 0.00%
Net margin (59.87%) 0.00% 0.00%
Free cash flow margin (10.20%) 0.00% 0.00%
Return on equity 323.66% (199.04%) (57.72%)
Return on assets (21.62%) (97.39%) (49.22%)
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric NVAX ZBIO Biotechnology median
Revenue growth (TTM) (61.64%) — 5.64%
EPS growth (last fiscal year) 309.76% 29.04% —
Revenue growth, 5-year CAGR 18.76% — 8.40%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric NVAX ZBIO Biotechnology median
Debt to equity (1.54) 1.57 0.00
Current ratio 2.33 9.93 4.73
Net debt to EBITDA (1.04) 0.69 0.96

Dividend

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

Size

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

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