NVAXNovavax, Inc.
Is it safe?
Serious red flags: a balance sheet under strain, accounting red flags, and heavy debt (BB). Everything else is secondary until this clears.
Elevated financial-distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
Several accounting flags in the manipulation-likely range Beneish M-score, a forensic model that detects earnings-manipulation patterns (receivables outrunning sales, margins slipping, accrual-heavy profit).
Mixed fundamental signals Piotroski F-score, nine pass/fail tests of year-over-year financial health across profitability, balance sheet and efficiency. 7 to 9 is strong, 0 to 3 weak.
Net cash, but unprofitable, speculative. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -99% · now at/near its 52-week high.
Unless marked, from SEC EDGAR, as of Dec 31, 2025.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can NVAX take a bad year?
Novavax, Inc. holds $428M more cash than debt, and is burning $11M a quarter, about 17.1 years of cover.
Net cash
- Net debt / EBITDA
- net cash
Net debt / EBITDA · no net borrowings to measure against earnings
- Altman Z-score
- -2.03
Altman Z-score · distress zone, below 1.8
- Cash runway
- 5+ years
Cash runway · burning $11M a quarter at the current rate
Details›
- Total debtQ2 2026
- $291M
- Cash and short-term investments
- $719M
- Net cash
- $428M
- EBITDA, trailing twelve months
- −$216M
- Operating profit, trailing twelve months
- −$234M
- Annualised volatilitytwo years of daily moves
- 76%
- Worst drawdown on file
- −99%
- Below its 52-week high
- 0.00%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.