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Novavax Balance Sheet 2025-2008 | NVAX
Brief balance sheet overview of Novavax
This overview follows the five latest available annual observations between 2021 and 2025.
Assets finished at $1.2 billion versus $2.6 billion initially, losing -54.3%. The balance sheet contracted.
Asset growth of -54.3% was close to the -55.5% change in liabilities, leaving the funding profile broadly stable.
The period ended with negative equity, a structure associated with elevated financial vulnerability.
The period ended with net cash: net debt stood at -$228.7 million. This supports financial flexibility.
Cash equals 20.5% of the balance sheet, compared with 58.8% five periods ago. This is the readily available cushion.
The balance sheet includes a negative accumulated result of -$4.6 billion. It should be assessed alongside historical profits and capital distributions.
Overall assessment
Novavax's financial structure calls for caution. Stronger equity, lower debt or restored liquidity would be needed to improve it.
Annual Balance Sheet Novavax
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-229 M | -466 M | -490 M | -1.29 B | - | -228 M | 243 M | 271 M | 262 M | 263 M | -92.7 M | -31.3 M | -118 M | -16.5 M | -13.8 M | - | - | - |
Long Term Debt |
2.09 M | 53.7 M | 55.9 M | 31.2 M | - | 322 M | 321 M | 319 M | 318 M | 316 M | - | 395 K | 1 M | 753 K | 300 K | - | - | - |
Long Term Debt Current |
9.88 M | 10.1 M | 23 M | 16.9 M | 31 M | 3.78 M | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 333 M | 330 M | 331 M | 333 M | 16.9 M | 12.3 M | 13.8 M | 10.4 M | 5.15 M | - | - | - |
Total Current Liabilities |
460 M | 1.15 B | 1.64 B | 2.46 B | 2.39 B | 580 M | 25.8 M | 45.5 M | 73.7 M | 66.4 M | 76.5 M | 34.1 M | 18.9 M | 11.7 M | 7.58 M | 10.3 M | - | - |
Total Liabilities |
1.3 B | 2.18 B | 2.51 B | 2.89 B | 2.93 B | 955 M | 359 M | 376 M | 404 M | 400 M | 93.4 M | 46.4 M | 32.7 M | 22.1 M | 12.7 M | 15.8 M | - | - |
Deferred Revenue |
140 M | 675 M | 241 M | 370 M | 1.4 B | 300 M | 1.68 M | 10 M | 25.6 M | 30.1 M | 34.5 M | - | 271 K | 258 K | 386 K | - | - | - |
Retained Earnings |
-4.57 B | -5.01 B | -4.82 B | -4.28 B | -3.62 B | -1.87 B | -1.43 B | -1.3 B | -1.11 B | -930 M | -650 M | -493 M | -410 M | -358 M | -330 M | -310 M | - | - |
Total Assets |
1.18 B | 1.56 B | 1.8 B | 2.26 B | 2.58 B | 1.58 B | 173 M | 208 M | 302 M | 394 M | 386 M | 276 M | 236 M | 102 M | 66.6 M | 74.8 M | - | - |
Cash and Cash Equivalents |
241 M | 530 M | 569 M | 1.34 B | 1.52 B | 553 M | 78.8 M | 70.2 M | 106 M | 144 M | 93.1 M | 32.3 M | 119 M | 17.4 M | 14.1 M | 8.06 M | 38.8 M | 26.9 M |
Book Value |
-128 M | -624 M | -717 M | -634 M | -352 M | 627 M | -186 M | -168 M | -102 M | -5.55 M | 293 M | 230 M | 203 M | 80.2 M | 53.8 M | 59 M | - | - |
Total Shareholders Equity |
-128 M | -624 M | -717 M | -634 M | -352 M | 627 M | -186 M | -168 M | -102 M | -5.55 M | 293 M | 230 M | 203 M | 80.2 M | 53.8 M | 59 M | 70 M | 42.9 M |
All numbers in USD currency
Quarterly Balance Sheet Novavax
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
291 M | 291 M | 2.27 M | 52.4 M | 53.1 M | 53.7 M | 54.4 M | 55 M | - | 55.9 M | 53.2 M | 30.7 M | 31 M | 31.2 M | 31.5 M | - | - | - | - | 9.19 M | 16.7 M | 40.1 M | 40.1 M | 40.1 M | 40.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
1.15 B | 1.19 B | 1.34 B | 1.3 B | 1.37 B | 2.18 B | 2.24 B | 2.25 B | - | 2.51 B | 2.34 B | 2.44 B | 2.44 B | 2.89 B | 2.83 B | 3.04 B | 2.77 B | 2.93 B | 2.1 B | 2 B | 1.57 B | 955 M | 955 M | 955 M | 955 M | 359 M | 359 M | 359 M | 359 M | 376 M | 376 M | 376 M | 376 M | 404 M | 404 M | 404 M | 404 M | 400 M | 400 M | 400 M | 400 M | 93.4 M | 93.4 M | 93.4 M | 93.4 M | 46.4 M | 46.4 M | 46.4 M | 46.4 M | 31.9 M | 31.9 M | 31.9 M | 31.9 M | 22.1 M | 22.1 M | 22.1 M | 22.1 M | 12.7 M | 12.7 M | 12.7 M | 12.7 M |
Deferred Revenue |
86.6 M | 88.8 M | 104 M | 114 M | 108 M | 675 M | 613 M | 666 M | - | 241 M | 192 M | 300 M | 416 M | 370 M | 405 M | 702 M | 1.09 B | 1.42 B | 1.26 B | 1.22 B | 823 M | 273 M | 81.8 M | 273 M | 273 M | 1.68 M | 1.68 M | 1.68 M | 1.68 M | 10 M | 10 M | 10 M | 10 M | 25.6 M | 25.6 M | 25.6 M | 25.6 M | 30.1 M | 30.1 M | 30.1 M | 30.1 M | 34.5 M | 34.5 M | 34.5 M | 34.5 M | - | 3 K | 25 K | 57 K | 271 K | 190 K | 271 K | 271 K | 258 K | 258 K | 258 K | 258 K | - | - | 2.5 M | - |
Retained Earnings |
-4.63 B | -4.58 B | -4.59 B | -4.38 B | -4.49 B | -5.01 B | -4.93 B | -4.81 B | - | -4.82 B | -4.64 B | -4.51 B | -4.57 B | -4.28 B | -4.09 B | -3.93 B | -3.41 B | -3.62 B | -2.77 B | -2.45 B | -2.1 B | -1.87 B | -1.87 B | -1.87 B | -1.87 B | -1.43 B | -1.43 B | -1.43 B | -1.43 B | -1.3 B | -1.3 B | -1.3 B | -1.3 B | -1.11 B | -1.11 B | -1.11 B | -1.11 B | -930 M | -930 M | -930 M | -930 M | -650 M | -650 M | -650 M | -650 M | -493 M | -493 M | -493 M | -493 M | -410 M | -410 M | -410 M | -410 M | -358 M | -358 M | -358 M | -358 M | -330 M | -330 M | -330 M | -330 M |
Total Assets |
956 M | 1.04 B | 1.18 B | 1.34 B | 1.29 B | 1.56 B | 1.71 B | 1.82 B | - | 1.8 B | 1.66 B | 1.69 B | 1.54 B | 2.26 B | 2.27 B | 2.62 B | 2.83 B | 2.58 B | 2.57 B | 2.75 B | 2.61 B | 1.58 B | 1.58 B | 1.58 B | 1.58 B | 173 M | 173 M | 173 M | 173 M | 208 M | 208 M | 208 M | 208 M | 302 M | 302 M | 302 M | 302 M | 394 M | 394 M | 394 M | 394 M | 386 M | 386 M | 386 M | 386 M | 276 M | 276 M | 276 M | 276 M | 235 M | 235 M | 235 M | 235 M | 102 M | 102 M | 102 M | 102 M | 66.6 M | 66.6 M | 66.6 M | 66.6 M |
Cash and Cash Equivalents |
191 M | 228 M | 268 M | 254 M | 263 M | 530 M | 589 M | 696 M | 496 M | 569 M | 666 M | 518 M | 625 M | 1.34 B | 1.29 B | 1.39 B | 1.58 B | 1.52 B | 1.95 B | 2.12 B | 2 B | 649 M | 553 M | 553 M | 553 M | 78.8 M | 78.8 M | 78.8 M | 78.8 M | 70.2 M | 70.2 M | 70.2 M | 70.2 M | 106 M | 106 M | 106 M | 106 M | 144 M | 144 M | 144 M | 144 M | 93.1 M | 93.1 M | 93.1 M | 93.1 M | 32.3 M | 32.3 M | 32.3 M | 32.3 M | 119 M | 119 M | 119 M | 119 M | 17.4 M | 17.4 M | 17.4 M | 17.4 M | 14.1 M | 14.1 M | 14.1 M | 14.1 M |
Book Value |
-191 M | -145 M | -157 M | 37.6 M | -75.6 M | -624 M | -526 M | -432 M | - | -717 M | -678 M | -755 M | -896 M | -634 M | -566 M | -417 M | 65.3 M | -352 M | 461 M | 746 M | 1.04 B | 627 M | 627 M | 627 M | 627 M | -186 M | -186 M | -186 M | -186 M | -168 M | -168 M | -168 M | -168 M | -102 M | -102 M | -102 M | -102 M | -5.55 M | -5.55 M | -5.55 M | -5.55 M | 293 M | 293 M | 293 M | 293 M | 230 M | 230 M | 230 M | 230 M | 203 M | 203 M | 203 M | 203 M | 80.2 M | 80.2 M | 80.2 M | 80.2 M | 53.8 M | 53.8 M | 53.8 M | 53.8 M |
Total Shareholders Equity |
-191 M | -145 M | -157 M | 37.6 M | -75.6 M | -624 M | -526 M | -432 M | -867 M | -717 M | -678 M | -755 M | -896 M | -634 M | -566 M | -417 M | 65.3 M | -352 M | 461 M | 746 M | 1.04 B | 627 M | 627 M | 627 M | 627 M | -186 M | -186 M | -186 M | -186 M | -168 M | -168 M | -168 M | -168 M | -102 M | -102 M | -102 M | -102 M | -5.55 M | -5.55 M | -5.55 M | -5.55 M | 293 M | 293 M | 293 M | 293 M | 230 M | 230 M | 230 M | 230 M | 203 M | 203 M | 203 M | 203 M | 80.2 M | 80.2 M | 80.2 M | 80.2 M | 53.8 M | 53.8 M | 53.8 M | 53.8 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Novavax, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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