CUREVAC NV (CVAC) Stock Fundamental Analysis
NASDAQ:CVAC - Nasdaq - NL0015436031 - Common Stock - Currency: USD
CVAC gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 568 industry peers in the Biotechnology industry. CVAC has an excellent financial health rating, but there are some minor concerns on its profitability. CVAC has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
CVAC had positive earnings in the past year.
CVAC had a positive operating cash flow in the past year.
In the past 5 years CVAC reported 4 times negative net income.
In multiple years CVAC reported negative operating cash flow during the last 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 20.20%, CVAC belongs to the top of the industry, outperforming 98.59% of the companies in the same industry.
The Return On Equity of CVAC (23.28%) is better than 97.89% of its industry peers.
CVAC has a Return On Invested Capital of 20.88%. This is amongst the best in the industry. CVAC outperforms 98.59% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 20.2% | ||
| ROE | 23.28% | ||
| ROIC | 20.88% |
ROA(3y)-13.91%
ROA(5y)-17.17%
ROE(3y)-24.58%
ROE(5y)-30.34%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
CVAC has a better Profit Margin (30.30%) than 97.54% of its industry peers.
CVAC's Operating Margin of 33.54% is amongst the best of the industry. CVAC outperforms 98.77% of its industry peers.
The Gross Margin of CVAC (80.23%) is better than 85.04% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 33.54% | ||
| PM (TTM) | 30.3% | ||
| GM | 80.23% |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so CVAC is creating value.
The number of shares outstanding for CVAC remains at a similar level compared to 1 year ago.
The number of shares outstanding for CVAC has been increased compared to 5 years ago.
CVAC has a better debt/assets ratio than last year.
2.2 Solvency
CVAC has an Altman-Z score of 6.73. This indicates that CVAC is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 6.73, CVAC belongs to the top of the industry, outperforming 85.04% of the companies in the same industry.
CVAC has a debt to FCF ratio of 0.47. This is a very positive value and a sign of high solvency as it would only need 0.47 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 0.47, CVAC belongs to the best of the industry, outperforming 95.95% of the companies in the same industry.
A Debt/Equity ratio of 0.05 indicates that CVAC is not too dependend on debt financing.
CVAC has a worse Debt to Equity ratio (0.05) than 62.68% of its industry peers.
Although CVAC does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.05 | ||
| Debt/FCF | 0.47 | ||
| Altman-Z | 6.73 |
ROIC/WACC3.02
WACC6.92%
2.3 Liquidity
CVAC has a Current Ratio of 7.28. This indicates that CVAC is financially healthy and has no problem in meeting its short term obligations.
CVAC has a better Current ratio (7.28) than 70.25% of its industry peers.
A Quick Ratio of 7.27 indicates that CVAC has no problem at all paying its short term obligations.
CVAC's Quick ratio of 7.27 is fine compared to the rest of the industry. CVAC outperforms 70.42% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 7.28 | ||
| Quick Ratio | 7.27 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 161.38% over the past year.
CVAC shows a strong growth in Revenue. In the last year, the Revenue has grown by 895.50%.
Measured over the past years, CVAC shows a very strong growth in Revenue. The Revenue has been growing by 98.42% on average per year.
EPS 1Y (TTM)161.38%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%63.15%
Revenue 1Y (TTM)895.5%
Revenue growth 3Y73.2%
Revenue growth 5Y98.42%
Sales Q2Q%-35.88%
3.2 Future
Based on estimates for the next years, CVAC will show a very negative growth in Earnings Per Share. The EPS will decrease by -22.21% on average per year.
CVAC is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -11.14% yearly.
EPS Next Y-167.63%
EPS Next 2Y-54.11%
EPS Next 3Y3.16%
EPS Next 5Y-22.21%
Revenue Next Year-85.66%
Revenue Next 2Y-51.16%
Revenue Next 3Y-22.1%
Revenue Next 5Y-11.14%
3.3 Evolution
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
CVAC is valuated cheaply with a Price/Earnings ratio of 3.80.
98.94% of the companies in the same industry are more expensive than CVAC, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 28.29, CVAC is valued rather cheaply.
CVAC is expected to report negative earnings next year, which makes the Forward Price/Earnings Ratio negative.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.8 | ||
| Fwd PE | N/A |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CVAC indicates a rather cheap valuation: CVAC is cheaper than 99.65% of the companies listed in the same industry.
CVAC's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CVAC is cheaper than 98.42% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.39 | ||
| EV/EBITDA | 0.84 |
4.3 Compensation for Growth
The decent profitability rating of CVAC may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-54.11%
EPS Next 3Y3.16%
5. Dividend
5.1 Amount
CVAC does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
3.12
-0.08 (-2.5%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)
Earnings (Next)
Inst Owners18.11%
Inst Owner Change0%
Ins Owners0.18%
Ins Owner ChangeN/A
Market Cap699.94M
Analysts78.46
Price Target7.87 (152.24%)
Short Float %3.19%
Short Ratio4.51
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)242.44%
Min Revenue beat(2)118.24%
Max Revenue beat(2)366.65%
Revenue beat(4)4
Avg Revenue beat(4)161.47%
Min Revenue beat(4)0.83%
Max Revenue beat(4)366.65%
Revenue beat(8)4
Avg Revenue beat(8)63.93%
Revenue beat(12)6
Avg Revenue beat(12)49.89%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)1.18%
Revenue NY rev (3m)1.18%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.8 | ||
| Fwd PE | N/A | ||
| P/S | 1.15 | ||
| P/FCF | 7.39 | ||
| P/OCF | 6.05 | ||
| P/B | 0.88 | ||
| P/tB | 0.92 | ||
| EV/EBITDA | 0.84 |
EPS(TTM)0.82
EY26.28%
EPS(NY)-0.59
Fwd EYN/A
FCF(TTM)0.42
FCFY13.54%
OCF(TTM)0.52
OCFY16.53%
SpS2.71
BVpS3.53
TBVpS3.4
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 20.2% | ||
| ROE | 23.28% | ||
| ROCE | 24.58% | ||
| ROIC | 20.88% | ||
| ROICexc | 62.23% | ||
| ROICexgc | 69.35% | ||
| OM | 33.54% | ||
| PM (TTM) | 30.3% | ||
| GM | 80.23% | ||
| FCFM | 15.58% |
ROA(3y)-13.91%
ROA(5y)-17.17%
ROE(3y)-24.58%
ROE(5y)-30.34%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.67
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.05 | ||
| Debt/FCF | 0.47 | ||
| Debt/EBITDA | 0.17 | ||
| Cap/Depr | 98.06% | ||
| Cap/Sales | 3.45% | ||
| Interest Coverage | 77.21 | ||
| Cash Conversion | 51.36% | ||
| Profit Quality | 51.43% | ||
| Current Ratio | 7.28 | ||
| Quick Ratio | 7.27 | ||
| Altman-Z | 6.73 |
F-Score7
WACC6.92%
ROIC/WACC3.02
Cap/Depr(3y)242.45%
Cap/Depr(5y)397%
Cap/Sales(3y)81.47%
Cap/Sales(5y)93.1%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)161.38%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%63.15%
EPS Next Y-167.63%
EPS Next 2Y-54.11%
EPS Next 3Y3.16%
EPS Next 5Y-22.21%
Revenue 1Y (TTM)895.5%
Revenue growth 3Y73.2%
Revenue growth 5Y98.42%
Sales Q2Q%-35.88%
Revenue Next Year-85.66%
Revenue Next 2Y-51.16%
Revenue Next 3Y-22.1%
Revenue Next 5Y-11.14%
EBIT growth 1Y164.4%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-154%
EBIT Next 3Y7.36%
EBIT Next 5Y10.78%
FCF growth 1Y125.82%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y138.02%
OCF growth 3YN/A
OCF growth 5YN/A