Vaxart, Inc.

Health Care
Biotechnology: Biological Products (No Diagnostic Substances)
www.vaxart.com

Moat Score

Market Cap $122.00M
PE -2
Debt $NaN
Cash $22.04M
EV $NaN
FCF -$51.35M

Earnings

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Sales & Net Margins

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Earnings	-$72.34M
EBIT	-$72.00M
ROE	-106%
ROA	-43%
FCF	-$51.35M
Equity	$68.44M
Growth Stability	1
PE	-1.69
PB	1.78
P/FCF	-2.38
P/S	7.28
Price/Cash	0.18
Net Margins	-407%
Op. Margins	-430%
Sales Growth YoY	135%
Sales Growth QoQ	-23%
Sales CAGR	-15%
Equity CAGR	14%
Earnings Growth YoY	-19%

Earnings Growth QoQ	-14%
Sales CAGR 5Y	1%
Equity CAGR 5Y	6%
Earnings CAGR 3Y	410%
Sales CAGR 3Y	410%
Equity CAGR 3Y	-34%
Market Cap	$122.00M
Revenue	$16.76M
Assets	$166.67M
Cash	$22.04M
Shares Outstanding	193.66M
Moat Score	1%
Working Capital	-13.91M
Current Ratio	0.83
Shares Growth 3y	17%
Equity Growth QoQ	-14%
Equity Growth YoY	-4%

Assets & ROA

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Stockholders Equity & ROE

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Vaxart Inc is a clinical-stage biotechnology company. It focuses on the development of oral recombinant vaccines to protect against a wide range of infectious diseases. The products under its tablet pipeline consist of the treatment of Coronavirus, Norovirus, Seasonal Influenza, RSV(respiratory syncytial virus), and HPV(Human papillomavirus) Therapeutic. It operates in a single segment, which is the discovery and development of oral recombinant protein vaccines. Geographically all the business activity functions through the region of the United States.

SEC Filings

Direct access to Vaxart, Inc. (VXRT) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Vaxart, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Vaxart, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Vaxart, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Vaxart, Inc..

Years

Calculation mode

= -$513M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$51M	-$51M	-$51M	-$51M	-$51M	-$51M	-$51M	-$51M	-$51M	-$51M	-$51M	-$513M
DCF		-$47M	-$42M	-$39M	-$35M	-$32M	-$29M	-$26M	-$24M	-$22M	-$20M	-$198M
Value	-$513M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	06/2015	06/2016	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-78%	-273%	-441%	-189%	-796%	-8K%	-101K%	-1K%	-407%
ROA	-	-35%	-48%	-43%	-20%	-32%	-70%	-90%	-43%
ROE	-	-55%	-163%	-144%	-26%	-38%	-97%	-143%	-106%

Bad Net Margins (-406.68%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	06/2015	06/2016	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-0.03	-	-	-	-	-	-	-
Debt over Equity	0	0.01	1.58	-	-	-	-	-	-
Growth Stability	-	-	-	-	-	-	-	-	1

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	06/2015	06/2016	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-62%	-55%	137%	-59%	-78%	-88%	7K%	1%
Earnings YoY growth	-	33%	-28%	2%	73%	119%	53%	-23%	-
Equity YoY growth	-	-34%	-76%	15%	853%	52%	-41%	-48%	6%
FCF YoY growth	-	47%	7%	-9%	79%	160%	61%	-31%	-