Is the business good?
How good a business is MRVI?
Maravai LifeSciences Holdings, Inc. earns −46% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−46%
Return on invested capital · cost of capital 9.0% · 55 points below what the capital costs: growth destroys value
- Operating margin
- −82%
Operating margin · Biotechnology median −72% · 12 months to Q1 2026
- Share count, year on year
- +2.1%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 8.0%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 42% |
| FY2021 | 69% |
| FY2022 | 65% |
| FY2023 | −11% |
| FY2024 | −91% |
| FY2025 | −116% |
Details›
- Gross margin12 months to Q1 2026
- 29%
- Operating margin12 months to Q1 2026
- −82%
- Net margin12 months to Q1 2026
- −51%
- Free cash flow margin
- −26%
- R&D as % of revenue
- 8.0%
- Revenue, trailing twelve months
- $205M
- Free cash flow, trailing twelve months
- −$53M
- Net income, trailing twelve months
- −$105M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −46%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.