How does BAVAC's PE Ratio compare to its peers?

BAVAC is good value based on its Price-To-Earnings Ratio (14x) compared to the peer average (56.8x).

How does BAVAC's PE Ratio compare vs other companies in the European Biotechs Industry?

BAVAC is good value based on its Price-To-Earnings Ratio (14x) compared to the European Biotechs industry average (28.1x).

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

Insufficient data to calculate BAVAC's Price-To-Earnings Fair Ratio for valuation analysis.

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

BAVAC (DKK184.18) is trading below our estimate of [[fair value]] (DKK456.93)

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

Insufficient data to show price forecast.

BAVAC Stock Overview

Develops, manufactures, and commercializes life-saving vaccines. More details

BAVAC fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	1/6
Past Performance	5/6
Financial Health	6/6
Dividends	0/6

Rewards

Trading at 59.7% below our estimate of its fair value

Earnings are forecast to grow 3.62% per year

Earnings grew by 54.6% over the past year

Risk Analysis

Shares are highly illiquid

My Notes

Capture your thoughts, links and company narrative

Bavarian Nordic A/S Competitors

Genus

LSE:GNS

UK£1.0b

Bioventix

AIM:BVXP

UK£172.2m

Ergomed

AIM:ERGO

UK£701.1m

PeptiDream

TSE:4587

JP¥339.3b

Price History & Performance

Summary of share price highs, lows and changes for Bavarian Nordic
Historical stock prices
Current Share Price	DKK 184.18
52 Week High	DKK 274.05
52 Week Low	DKK 154.48
Beta	1.59
1 Month Change	0%
3 Month Change	-26.39%
1 Year Change	9.86%
3 Year Change	-34.14%
5 Year Change	10.52%
Change since IPO	184.44%

Recent updates

Shareholder Returns

	BAVAC	GB Biotechs	GB Market
7D	0%	-3.2%	-1.5%
1Y	9.9%	-21.4%	3.5%

Return vs Industry: BAVAC exceeded the UK Biotechs industry which returned -21.4% over the past year.

Return vs Market: BAVAC exceeded the UK Market which returned 3.5% over the past year.

Price Volatility

Is BAVAC's price volatile compared to industry and market?
BAVAC volatility
BAVAC Average Weekly Movement	n/a
Biotechs Industry Average Movement	8.3%
Market Average Movement	4.9%
10% most volatile stocks in GB Market	10.6%
10% least volatile stocks in GB Market	2.6%

Stable Share Price: BAVAC's share price has been volatile over the past 3 months compared to the UK market.

Volatility Over Time: Insufficient data to determine BAVAC's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1992	1,609	Paul Chaplin	www.bavarian-nordic.com

Bavarian Nordic A/S develops, manufactures, and commercializes life-saving vaccines. The company offers non-replicating smallpox and monkeypox vaccines under the IMVAMUNE, IMVANEX, and JYNNEOS names; rabies vaccine for human use under the Rabipur/RabAvert name; tick-borne encephalitis vaccine under the Encepur name; and Ebola vaccine under the MVABEA name. It is also developing MVA-BN for the treatment of smallpox; MVA-BN RSV, which is in Phase III clinical trials for the treatment of respiratory syncytial virus; ABNCoV2 that has completed Phase III clinical trial for the treatment of SARS-CoV-2.

Bavarian Nordic A/S Fundamentals Summary

How do Bavarian Nordic's earnings and revenue compare to its market cap?
BAVAC fundamental statistics
Market cap	DKK 15.63b
Earnings (TTM)	DKK 1.12b
Revenue (TTM)	DKK 6.07b

14.0x

P/E Ratio

2.6x

P/S Ratio

Is BAVAC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
BAVAC income statement (TTM)
Revenue	DKK 6.07b
Cost of Revenue	DKK 2.33b
Gross Profit	DKK 3.74b
Other Expenses	DKK 2.62b
Earnings	DKK 1.12b

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

Mar 05, 2025

Earnings per share (EPS)	14.24
Gross Margin	61.57%
Net Profit Margin	18.43%
Debt/Equity Ratio	0.1%

How did BAVAC perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/19 09:26
End of Day Share Price	2024/11/19 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Bavarian Nordic A/S is covered by 15 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Peter Ankersen	ABG Sundal Collier
Jacob Lademann	Carnegie Investment Bank AB
Peter Verdult	Citigroup Inc

BAVAC Stock Overview

Rewards

Risk Analysis

Bavarian Nordic A/S Competitors

LSE:GNS

UK£1.0b

AIM:BVXP

UK£172.2m

AIM:ERGO

UK£701.1m

TSE:4587

JP¥339.3b

Price History & Performance

Recent News & Updates

First Children Vaccinated in New Clinical Study Seeking to Expand the Indication for Bavarian Nordic's Mpox Vaccine

Bavarian Nordic A/S Upgrades Earnings Guidance for the Year 2024

Bavarian Nordic A/S Receives EMA Approval of Mpox Vaccine for Adolescents

Bavarian Nordic Receives WHO Prequalification for Mpox Vaccine

Bavarian Nordic A/S Announces First Doses of its Mpox Vaccine, Mva-BN

Bavarian Nordic A/S Receives Approval of Smallpox and Mpox Vaccine in Singapore

Recent updates

First Children Vaccinated in New Clinical Study Seeking to Expand the Indication for Bavarian Nordic's Mpox Vaccine

Bavarian Nordic A/S Upgrades Earnings Guidance for the Year 2024

Bavarian Nordic A/S Receives EMA Approval of Mpox Vaccine for Adolescents

Bavarian Nordic Receives WHO Prequalification for Mpox Vaccine

Bavarian Nordic A/S Announces First Doses of its Mpox Vaccine, Mva-BN

Bavarian Nordic A/S Receives Approval of Smallpox and Mpox Vaccine in Singapore

Bavarian Nordic A/S, Annual General Meeting, Apr 09, 2025

Bavarian Nordic A/S to Report Fiscal Year 2024 Results on Mar 05, 2025

Bavarian Nordic A/S Submits Data to EMA to Extend Mpox/Smallpox Vaccine Approval to Adolescents

Bavarian Nordic A/S Receives Positive Chmp Opinion for Including Mpox Real-World Effectiveness Data in European Marketing Authorization for Smallpox and Mpox Vaccine

Bavarian Nordic A/S Receives EMA Filing Acceptance and Validation of the MAA for Its Chikungunya Vaccine

Bavarian Nordic A/S Submits Marketing Authorization Application for Its Chikungunya Vaccine Candidate to Ema

Laurence De Moerlooze to Leave Bavarian Nordic A/S as Executive Vice President and Chief Medical Officer

Bavarian Nordic A/S Provides Earnings Guidance for the Year 2024

Bavarian Nordic A/S Initiates Rolling Submission of Biologics License Application with FDA for Chikungunya Vaccine Candidate

Bavarian Nordic A/S Receives Approval of Smallpox and Mpox Vaccine in Switzerland

Less than half of directors are independent

Less than half of directors are independent

Bavarian Nordic A/S Provides Revenue Guidance for the Year 2024

Less than half of directors are independent

Less than half of directors are independent

Bavarian Nordic A/S Provides Earnings Guidance for the Year 2023

Bavarian Nordic A/S's Mpox Vaccine Receives Recommendation from U.S. CDC Advisory Committee for Routine Use in Adults at Risk

Bavarian Nordic A/S Reports Additional Phase 3 Results and Provides Update on Development Program for its cVLP-Based COVID-19 Booster Vaccine Candidate, ABNCoV2

Bavarian Nordic A/S, Annual General Meeting, Apr 16, 2024

Less than half of directors are independent

Bavarian Nordic A/S Provides Update on RSV Vaccine Program

Bavarian Nordic A/S Reports Data from A Phase 3 Clinical Trial of Its Vlp-Based Chikungunya Virus Vaccine in Adults >=65 Years of Age Study Successfully Met Its Primary Endpoints

Bavarian Nordic A/S Reports 12-Month Durability Data from Phase 2 Clinical Trial of Covid-19 Vaccine Candidate

Bavarian Nordic A/S acquired Travel health business of Emergent International Inc. and Emergent Travel Health Inc. for $384 million.

Bavarian Nordic A/S Provides Earnings Guidance for the Year 2023

Less than half of directors are independent

Less than half of directors are independent

Less than half of directors are independent

Less than half of directors are independent

Full year 2022 earnings released: kr.4.90 loss per share (vs kr.7.37 loss in FY 2021)

Bavarian Nordic A/S entered into an agreement to acquire Travel health business of Emergent International Inc. and Emergent Travel Health Inc. for $380 million.

Bavarian Nordic A/S entered into an agreement to acquire Travel health business of Emergent International Inc. and Emergent Travel Health Inc. for $380 million.

Bavarian Nordic A/S Provides Earnings Guidance for Fiscal Year 2023

Less than half of directors are independent

Bavarian Nordic A/S Provides Revenue Guidance for Fiscal Year 2022

Bavarian Nordic Completes Enrollment in Global Phase 3 Trial of RSV Vaccine Candidate for Older Adults

Chairman recently sold kr.508k worth of stock

Less than half of directors are independent

Bavarian Nordic A/S Maintains Earnings Guidance for the Year 2022

Bavarian Nordic A/S Announces Covid-19 Booster Vaccine Candidate Demonstrates Durable Antibody Response Six Months After Vaccination in Phase 2 Clinical Trial

Bavarian Nordic A/S Appoints Luc Debruyne as Board of Directors

Less than half of directors are independent

Bavarian Nordic A/S Revises Earnings Guidance for the Full Year 2022

Bavarian Nordic Announces Initiation of a Global Phase 3 Clinical Trial of its COVID-19 Booster Vaccine Candidate

Less than half of directors are independent

Bavarian Nordic A/S, Annual General Meeting, Mar 30, 2023

Bavarian Nordic A/S to Report Fiscal Year 2022 Final Results on Mar 02, 2023

Bavarian Nordic A/S Provides Revenue Guidance for the Year 2022

Less than half of directors are independent

Bavarian Nordic A/S Receives U.S. and Eu Approvals of Its Fill and Finish Vaccine Manufacturing Facility

Bavarian Nordic A/S Receives Positive CHMP Opinion on the Extension of Vaccine Label to Include Monkeypox

Bavarian Nordic A/S Raises Earnings Guidance for the Financial Guidance for 2022

Less than half of directors are independent