Vaxcyte Inc
PCVXHealthcare|Biotechnology|USA
$58.20
-1.62 (-2.71%)
Tangible Book
$20.76
Earnings Power
$7.32
Financials
Financial Snapshot
Market Cap
$8.40B
Enterprise Value
$1.62B
Revenue (TTM)
$0.00
Net Income (TTM)
$-946.5M
Cash & Equivalents
—
Net Cash/Share
$9.60
Free Cash Flow (TTM)
$-814.9M
Operating CF (TTM)
$-769.9M
Debt/Equity
0.04
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$192.5M
Monthly Burn
$64.2M
Est. Runway
—
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $66.1M | $59.0M | $386.2M | $246.0M | $931.4M | $1.08B | $1.75B | $1.56B | $1.74B | |
| Operating Cash Flow | $-30.5M | $-47.1M | $-46.6M | $-121.4M | $-170.6M | $-296.8M | $-452.6M | $-655.6M | $-769.9M | |
| Free Cash Flow | $-32.2M | $-48.3M | $-47.8M | $-127.9M | $-176.4M | $-364.7M | $-571.8M | $-712.5M | $-814.9M | |
| Capital Expenditure | $-1.8M | $-1.2M | $-1.2M | $-6.6M | $-5.8M | $-67.9M | $-119.2M | $-57.0M | $-45.0M | |
| Financing Cash Flow | $62.2M | $41.6M | $374.9M | $17.8M | $861.5M | $639.8M | $2.45B | $2.0M | $602.8M |
R&D Spending
R&D (TTM)
$959.0M
R&D Intensity
—
R&D Growth YoY
+20.7%
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $30.1M | $45.6M | $73.6M | $78.4M | $169.5M | $332.3M | $476.6M | $794.3M | $959.0M | |
| R&D % of Revenue | — | — | — | — | — | — | — | — | — | |
| SG&A | $5.4M | $8.5M | $16.0M | $25.3M | $39.8M | $60.7M | $92.9M | $129.4M | $129.8M |
Income Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $30.1M | $45.6M | $73.6M | $78.4M | $169.5M | $332.3M | $476.6M | $794.3M | $959.0M | |
| SG&A | $5.4M | $8.5M | $16.0M | $25.3M | $39.8M | $60.7M | $92.9M | $129.4M | $129.8M | |
| Operating Income | $-35.5M | $-53.9M | $-87.1M | $-102.1M | $-209.3M | $-393.0M | $-569.5M | $-923.7M | $-1.09B | |
| Interest Expense | $-75.0K | $-40.0K | $-7.0K | $-7.0K | $-2.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-29.5M | $-50.3M | $-89.2M | $-100.1M | $-223.5M | $-402.3M | $-463.9M | $-766.6M | $-946.5M | |
| Net Income | $-29.5M | $-50.3M | $-89.2M | $-100.1M | $-223.5M | $-402.3M | $-463.9M | $-766.6M | $-946.5M | |
| EPS (Diluted) | -1.15 | -1.96 | -3.02 | -1.93 | -3.44 | -4.14 | -3.80 | -5.63 | -6.88 | |
| EBITDA | $-28.4M | $-49.0M | $-87.8M | $-96.6M | $-214.0M | $-382.9M | $-553.7M | $-898.8M | $-1.06B | |
| Shares Out. (M) | 25.60 | 25.60 | 29.55 | 51.92 | 64.88 | 97.16 | 122.00 | 136.09 | 139.51 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $66.1M | $59.0M | $386.2M | $69.0M | $834.7M | $397.5M | $387.9M | $174.0M | $260.8M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $177.0M | $96.7M | $682.8M | $1.36B | $1.39B | $1.48B | |
| Total Current Assets | $66.7M | $61.7M | $389.0M | $256.3M | $942.6M | $1.10B | $1.79B | $1.63B | $1.81B | |
| Total Assets | $70.8M | $65.7M | $392.8M | $324.3M | $1.01B | $1.41B | $3.51B | $3.00B | $3.35B | |
| Total Current Liabilities | $6.7M | $11.1M | $46.9M | $28.7M | $40.5M | $145.3M | $140.2M | $205.8M | $242.1M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $128.5M | $172.1M | $47.0M | $40.3M | $52.6M | $167.4M | $205.5M | $317.2M | $352.3M | |
| Stockholders' Equity | $-57.7M | $-106.4M | $345.8M | $284.0M | $953.6M | $1.24B | $3.31B | $2.69B | $3.00B | |
| Retained Earnings | $-59.1M | $-109.3M | $-198.6M | $-298.6M | $-522.1M | $-924.4M | $-1.39B | $-2.15B | $-2.48B |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-30.5M | $-47.1M | $-46.6M | $-121.4M | $-170.6M | $-296.8M | $-452.6M | $-655.6M | $-769.9M | |
| Capital Expenditure | $-1.8M | $-1.2M | $-1.2M | $-6.6M | $-5.8M | $-67.9M | $-119.2M | $-57.0M | $-45.0M | |
| Free Cash Flow | $-32.2M | $-48.3M | $-47.8M | $-127.9M | $-176.4M | $-364.7M | $-571.8M | $-712.5M | $-814.9M | |
| Investing Cash Flow | $-1.8M | $-1.2M | $-1.1M | $-212.3M | $74.6M | $-773.3M | $-2.01B | $437.4M | $80.6M | |
| Financing Cash Flow | $62.2M | $41.6M | $374.9M | $17.8M | $861.5M | $639.8M | $2.45B | $2.0M | $602.8M | |
| Issuance of Stock | $0.00 | $0.00 | $264.0M | $13.9M | $856.5M | $636.0M | $2.44B | $0.00 | $601.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $-283.0K | $-278.0K | $-61.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $749.0K | $1.2M | $5.4M | $10.7M | $23.6M | $48.8M | $84.8M | $138.8M | $146.2M | |
| Net Change in Cash | $30.0M | $-7.1M | $327.2M | $-316.3M | $765.7M | $-437.0M | $-9.4M | $-213.8M | $-85.9M |
Dilution Tracker
Shares outstanding grew 168.7% over 5 years — significant dilution
Shares Outstanding
140M
5-Year Share Growth
+168.7%
Stock Issuance (TTM)
$601.8M
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 25.60 | 25.60 | 29.55 | 51.92 | 64.88 | 97.16 | 122.00 | 136.09 | 139.51 | |
| YoY Change % | — | 0.0% | 15.4% | 75.7% | 25.0% | 49.8% | 25.6% | 11.6% | 2.5% | |
| Stock Issuance | $0.00 | $0.00 | $264.0M | $13.9M | $856.5M | $636.0M | $2.44B | $0.00 | $601.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $749.0K | $1.2M | $5.4M | $10.7M | $23.6M | $48.8M | $84.8M | $138.8M | $146.2M |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | 0.0% | 0.0% | -74.5% | -31.8% | -36.1% | -36.7% | -20.4% | -25.6% | -31.9% | |
| ROA % | -41.6% | -73.7% | -38.9% | -27.9% | -33.6% | -33.3% | -18.9% | -23.5% | -29.2% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.41
P/S—
Historical— / — / —
Industry Med.9.51
P/B2.80
Historical— / — / 2.80
Industry Med.2.93
EV/EBITDA-6.38
Historical-6.38 / — / —
Industry Med.13.14
EV/Revenue—
Historical— / — / —
Industry Med.8.71
P/FCF—
Historical— / — / —
Industry Med.27.54
Intrinsic Value Models
Tangible Book
$20.76
Net Current Assets
$10.130
Net-Net Working Capital
$9.60
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | - | - | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 3.92 | 4.44 | 4.00 | 4.83 | 3.09 | 2.25 | 2.80 | |
| EV/EBITDA | 0.00 | 0.00 | -11.06 | -10.69 | -13.54 | -12.90 | -15.44 | -5.12 | -6.38 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
1
Weak
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $0.00M | $68.89M | $173.05M |
| Net Income | $-1,207.41M | $-1,018.39M | $-1,032.02M |
| EPS | -8.50 | -6.65 | -7.04 |
| Book Value per Share | 0.00 | 0.00 | 0.00 |
| Operating Cash Flow per Share | -5.27 | -4.55 | 0.00 |
| Operating CF | $-735.20M | $-634.76M | $0.00M |