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CVAC

CureVac NasdaqGM:CVAC Stock Report

Last Price

US$13.18

Market Cap

US$2.5b

7D

-5.0%

1Y

-80.0%

Updated

17 Aug, 2022

Data

Company Financials +
CVAC fundamental analysis
Snowflake Score
Valuation0/6
Future Growth5/6
Past Performance0/6
Financial Health4/6
Dividends0/6

CVAC Stock Overview

CureVac N.V., a clinical-stage biopharmaceutical company, focuses on developing various transformative medicines based on messenger ribonucleic acid (mRNA).

CureVac Competitors

Price History & Performance

Summary of all time highs, changes and price drops for CureVac
Historical stock prices
Current Share PriceUS$13.18
52 Week HighUS$75.68
52 Week LowUS$12.39
Beta2.95
1 Month Change0.15%
3 Month Change-32.10%
1 Year Change-80.04%
3 Year Changen/a
5 Year Changen/a
Change since IPO-76.42%

Recent News & Updates

Jul 05

CureVac claims patent rights for Pfizer/BioNTech COVID-19 vaccine

German biotech CureVac N.V. (NASDAQ:CVAC) announced on Tuesday that the company filed a lawsuit in Germany over the infringement of certain intellectual property rights related to the COVID-19 vaccine developed by its local rival BioNTech (BNTX) and U.S. pharma giant Pfizer (PFE). The case was filed in the German Regional Court in Düsseldorf against BioNTech (BNTX) and two of its subsidiaries, CureVac (CVAC) said, noting it would fair compensation for the alleged violations. While CureVac (CVAC) has added ~1%, both BioNTech (BNTX) and Pfizer (PFE) have lost ~1% in the pre-market so far. However, the company said that it would not seek an injunction or resort to a legal action that could disrupt the production and sales of the blockbuster vaccine. The IP rights titled EP 1 857 122 B1, DE 20 2015 009 961 U1 relate to the development of mRNA, the compound behind the Pfizer (PFE)/ BioNTech (BNTX) COVID-19 vaccine.

Shareholder Returns

CVACUS BiotechsUS Market
7D-5.0%1.8%4.5%
1Y-80.0%-22.2%-8.9%

Return vs Industry: CVAC underperformed the US Biotechs industry which returned -22.2% over the past year.

Return vs Market: CVAC underperformed the US Market which returned -8.9% over the past year.

Price Volatility

Is CVAC's price volatile compared to industry and market?
CVAC volatility
CVAC Average Weekly Movement9.0%
Biotechs Industry Average Movement12.5%
Market Average Movement7.6%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.1%

Stable Share Price: CVAC is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: CVAC's weekly volatility (9%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2000824Franz-Werner Haashttps://www.curevac.com

CureVac N.V., a clinical-stage biopharmaceutical company, focuses on developing various transformative medicines based on messenger ribonucleic acid (mRNA). It is developing prophylactic vaccines, such as mRNA-based vaccine candidates CV2CoV, which is in Phase 1 clinical trial against SARS-CoV-2; CV7202, a prophylactic mRNA-based vaccine, which has completed Phase 1 clinical trial for rabies virus glycoprotein; and CVSQIV, which is in Phase 1 clinical trial against influenza, as well as vaccine for lassa fever, yellow fever, respiratiory syncytial virus, rotavirus, malaria, and universal influenza. The company also develops RNA-based cancer immunotherapies, including CV8102, which is in Phase 1 clinical trial for treating cutaneous melanoma and adenoidcystic carcinoma, as well as squamous cell cancer of skin, head, and neck.

CureVac Fundamentals Summary

How do CureVac's earnings and revenue compare to its market cap?
CVAC fundamental statistics
Market CapUS$2.47b
Earnings (TTM)-US$318.43m
Revenue (TTM)US$119.33m

20.7x

P/S Ratio

-7.7x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CVAC income statement (TTM)
Revenue€117.33m
Cost of Revenue€255.75m
Gross Profit-€138.41m
Other Expenses€174.69m
Earnings-€313.11m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-1.67
Gross Margin-117.97%
Net Profit Margin-266.86%
Debt/Equity Ratio0%

How did CVAC perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

CVAC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue14.9x
Enterprise Value/EBITDA-1.8x
PEG Ration/a

Price to Sales Ratio vs Peers

How does CVAC's PS Ratio compare to its peers?

CVAC PS Ratio vs Peers
The above table shows the PS ratio for CVAC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average12.6x
ACAD ACADIA Pharmaceuticals
5.4x20.8%US$2.8b
IMCR Immunocore Holdings
29x29.9%US$2.4b
BCRX BioCryst Pharmaceuticals
13x23.4%US$2.6b
MYGN Myriad Genetics
3.1x6.3%US$2.1b
CVAC CureVac
20.7x29.0%US$2.6b

Price-To-Sales vs Peers: CVAC is expensive based on its Price-To-Sales Ratio (20.7x) compared to the peer average (12.6x).


Price to Earnings Ratio vs Industry

How does CVAC's PE Ratio compare vs other companies in the US Biotechs Industry?

Price-To-Sales vs Industry: CVAC is expensive based on its Price-To-Sales Ratio (20.7x) compared to the US Biotechs industry average (16.9x)


Price to Sales Ratio vs Fair Ratio

What is CVAC'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.

CVAC PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio20.7x
Fair PS Ratio1.6x

Price-To-Sales vs Fair Ratio: CVAC is expensive based on its Price-To-Sales Ratio (20.7x) compared to the estimated Fair Price-To-Sales Ratio (1.6x).


Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate CVAC's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate CVAC's fair value for valuation analysis.


Analyst Price Targets

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

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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Future Growth

How is CureVac forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


46.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CVAC is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: CVAC is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CVAC is expected to become profitable in the next 3 years.

Revenue vs Market: CVAC's revenue (29% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: CVAC's revenue (29% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CVAC is forecast to be unprofitable in 3 years.


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Past Performance

How has CureVac performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-53.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CVAC is currently unprofitable.

Growing Profit Margin: CVAC is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CVAC is unprofitable, and losses have increased over the past 5 years at a rate of 53.3% per year.

Accelerating Growth: Unable to compare CVAC's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CVAC is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (24.5%).


Return on Equity

High ROE: CVAC has a negative Return on Equity (-46.4%), as it is currently unprofitable.


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Financial Health

How is CureVac's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: CVAC's short term assets (€789.3M) exceed its short term liabilities (€237.8M).

Long Term Liabilities: CVAC's short term assets (€789.3M) exceed its long term liabilities (€114.0M).


Debt to Equity History and Analysis

Debt Level: CVAC is debt free.

Reducing Debt: CVAC had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CVAC has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if CVAC has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


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Dividend

What is CureVac current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate CVAC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CVAC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CVAC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CVAC's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as CVAC has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.1yrs

Average management tenure


CEO

Franz-Werner Haas (52 yo)

2.42yrs

Tenure

€536,331

Compensation

Dr. Franz-Werner Haas, LLD, LLM, PhD, has been Chief Executive Officer of CureVac AG since June 2020 and has been its Chief Operating Officer since 2018 and also serves as its Member of Management Board. H...


CEO Compensation Analysis

Compensation vs Market: Franz-Werner's total compensation ($USD545.44K) is below average for companies of similar size in the US market ($USD6.57M).

Compensation vs Earnings: Franz-Werner's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: CVAC's management team is considered experienced (2.1 years average tenure).


Board Members

Experienced Board: CVAC's board of directors are considered experienced (6.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

CureVac N.V.'s employee growth, exchange listings and data sources


Key Information

  • Name: CureVac N.V.
  • Ticker: CVAC
  • Exchange: NasdaqGM
  • Founded: 2000
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: US$2.465b
  • Shares outstanding: 187.03m
  • Website: https://www.curevac.com

Number of Employees


Location

  • CureVac N.V.
  • Friedrich-Miescher-Strasse 15
  • Tübingen
  • Baden-Württemberg
  • 72076
  • Germany

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/17 00:00
End of Day Share Price2022/08/17 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.