Novavax price to free cash flow NVAX

Market value divided by free cash flow over the last twelve months, since 2020.

Today, Oct 23, 2026: n/m; not a meaningful number
Last meaningful: 16.5×; May 2022
Peer median: 31.1×

Novavax's price to free cash flow is not a meaningful number today: free cash flow over the last twelve months was zero, negative or not reported.

It was last meaningful in May 2022, at 16.5×.

Price to free cash flow over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2022	16.5×	13.0×	23.6×
2021	23.8×	16.9×	374×
2020	144×	111×	280×

Against its peers

Companies in Biotechnology nearest Novavax's size, closest first, today.

Company	Price to free cash flow
NVAXNovavax	n/m
VCELVericel	35.3×
ADMAAdma Biologics	20.5×
MGTXMeiraGTx	84.5×
KRYSKrystal Biotech	35.8×
RGENRepligen	89.2×
TECHBIO-TECHNE	43.2×
PLXProtalix BioTherapeutics	26.8×
HALOHalozyme Therapeutics	17.7×
NBIXNeurocrine Biosciences	16.7×
EXELExelixis	13.6×
Peer median	31.1×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Novavax

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.