CureVac N.V.

XTRA:5CV Stock Report

Market Cap: €569.5m

CureVac Valuation

Is 5CV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 5CV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 5CV (€2.62) is trading below our estimate of fair value (€7.13)

Significantly Below Fair Value: 5CV is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 5CV?

Key metric: As 5CV is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 5CV. This is calculated by dividing 5CV's market cap by their current revenue.
What is 5CV's PS Ratio?
PS Ratio8.6x
Sales€65.86m
Market Cap€569.53m

Price to Sales Ratio vs Peers

How does 5CV's PS Ratio compare to its peers?

The above table shows the PS ratio for 5CV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.6x
FYB Formycon
14x33.4%€827.2m
BIO3 Biotest
1.5x3.6%€1.4b
HPHA Heidelberg Pharma
12x16.6%€103.9m
MDG1 Medigene
3x16.1%€22.6m
5CV CureVac
8.6x-11.5%€596.7m

Price-To-Sales vs Peers: 5CV is expensive based on its Price-To-Sales Ratio (8.6x) compared to the peer average (7.6x).

Price to Sales Ratio vs Industry

How does 5CV's PS Ratio compare vs other companies in the DE Biotechs Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
CNW co.don
0.7xn/aUS$6.97m
V9Z Aceragen
0.4xn/aUS$3.12m
PA8 Paion
0.2x30.2%US$2.78m
V9Z Aceragen
0.3x-161.8%US$2.18m
5CV 8.6xIndustry Avg. 8.1xNo. of Companies6PS0612182430+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 5CV is expensive based on its Price-To-Sales Ratio (8.6x) compared to the European Biotechs industry average (8.1x).

Price to Sales Ratio vs Fair Ratio

What is 5CV's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

5CV PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio8.6x
Fair PS Ratio0.3x

Price-To-Sales vs Fair Ratio: 5CV is expensive based on its Price-To-Sales Ratio (8.6x) compared to the estimated Fair Price-To-Sales Ratio (0.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 5CV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.62
€6.89
+163.1%
73.0%€15.13€2.36n/a6
Nov ’25€2.60
€6.91
+165.4%
68.2%€14.43€2.35n/a6
Oct ’25€2.64
€6.51
+146.3%
68.6%€14.43€2.35n/a7
Sep ’25€2.86
€6.53
+128.7%
68.8%€14.56€2.35n/a7
Aug ’25€3.32
€7.01
+110.9%
70.2%€16.56€2.40n/a7
Jul ’25€3.18
€8.73
+174.3%
61.0%€16.63€2.43n/a7
Jun ’25€3.67
€8.72
+137.4%
61.1%€16.63€2.39n/a7
May ’25€2.37
€9.19
+287.2%
56.2%€16.84€2.43n/a7
Apr ’25€2.85
€12.50
+338.6%
43.2%€19.15€2.74n/a7
Mar ’25€3.22
€12.92
+301.7%
36.0%€19.15€5.83n/a7
Feb ’25€3.22
€12.92
+301.1%
36.0%€19.15€5.83n/a7
Jan ’25€3.85
€12.91
+235.3%
36.0%€19.13€5.83n/a7
Dec ’24€5.01
€14.06
+180.6%
33.5%€20.12€7.31n/a8
Nov ’24€5.08
€14.48
+185.0%
30.8%€20.12€7.36€2.608
Oct ’24€6.24
€14.48
+132.1%
30.8%€20.12€7.36€2.648
Sep ’24€8.27
€14.28
+72.7%
30.9%€20.12€7.36€2.868
Aug ’24€8.29
€15.41
+85.9%
31.6%€20.98€9.08€3.327
Jul ’24€9.69
€15.52
+60.2%
31.9%€21.45€9.08€3.187
Jun ’24€8.45
€15.82
+87.2%
29.8%€21.45€9.08€3.677
May ’24€6.66
€15.88
+138.5%
28.7%€21.85€9.30€2.377
Apr ’24€6.41
€17.43
+171.9%
40.1%€31.28€9.30€2.857
Mar ’24€8.01
€17.52
+118.7%
40.2%€31.28€9.21€3.227
Feb ’24€10.03
€17.52
+74.7%
40.2%€31.28€9.21€3.227
Jan ’24€5.68
€14.94
+163.0%
57.3%€32.93€7.54€3.857
Dec ’23€7.28
€16.17
+122.3%
53.4%€32.93€8.78€5.016
Nov ’23€7.51
€24.85
+231.1%
49.1%€45.22€13.06€5.086

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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