(BAVA) Bavarian Nordic - CO
Sector: Healthcare | Industry: Biotechnology | Exchange: CO (Denmark) | Market Cap: 13.720m DKK | Total Return: 1.9% in 12m
Avg Turnover: 32.6M
EPS Trend: 8.7%
Rev. Trend: 15.0%
Qual. Beats: 0
Warnings
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Bavarian Nordic A/S is a Danish biotechnology company founded in 1992 and headquartered in Hellerup, Denmark, that develops, manufactures, and commercializes vaccines for infectious diseases. Its marketed portfolio spans smallpox and monkeypox (JYNNEOS/IMVANEX/IMVAMUNE), rabies (Rabipur/RabAvert), tick-borne encephalitis (Encepur), cholera (Vaxchora), and typhoid (Vivotif/Typhoral). The company is also advancing MVA-BN WEV, currently in a phase 2 trial for encephalitis viruses, and distributes its products across roughly 17 countries in the U.S., Europe, and Asia-Pacific.
The company operates within the global vaccine industry, a high-barrier segment of biotechnology characterized by lengthy R&D cycles, stringent regulatory approval pathways, and dependence on a limited number of approved products driving the bulk of revenue. Bavarian Nordics pipeline is built around its proprietary MVA-BN (Modified Vaccinia Ankara) vaccine platform, a non-replicating viral vector technology that underpins both its approved products and clinical-stage candidates.
- WHO mpox emergency declaration drives JYNNEOS vaccine demand
- US BioShield contracts replenish smallpox vaccine stockpiles
- Acquired Rabipur and Encepur portfolio expands travel vaccine revenue
| Net Income: 1.17b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA 16.55 > 1.0 |
| NWC/Revenue: 85.25% < 20% (prev 52.49%; Δ 32.76% < -1%) |
| CFO/TA 0.17 > 3% & CFO 2.36b > Net Income 1.17b |
| Net Debt (-2.03b) to EBITDA (2.25b): -0.90 < 3 |
| Current Ratio: 6.47 > 1.5 & < 3 |
| Outstanding Shares: last quarter (77.1m) vs 12m ago -4.79% < -2% |
| Gross Margin: 47.40% > 18% (prev 51.90%; Δ -4.50% > 0.5%) |
| Asset Turnover: 42.80% > 50% (prev 45.98%; Δ -3.18% > 0%) |
| Interest Coverage Ratio: 130.0 > 6 (EBIT TTM 1.52b / Interest Expense TTM 11.7m) |
| A: 0.36 (Total Current Assets 5.97b - Total Current Liabilities 922.4m) / Total Assets 14.1b |
| B: 0.82 (Retained Earnings 11.6b / Total Assets 14.1b) |
| C: 0.11 (EBIT TTM 1.52b / Avg Total Assets 13.8b) |
| D: 8.97 (Book Value of Equity 12.7b / Total Liabilities 1.41b) |
| Altman-Z'' = 15.20 = AAA |
| DSRI: 0.84 (Receivables 936.4m/1.17b, Revenue 5.92b/6.23b) |
| GMI: 1.10 (GM 51.90% / 47.40%) |
| AQI: 0.91 (AQ_t 0.42 / AQ_t-1 0.46) |
| SGI: 0.95 (Revenue 5.92b / 6.23b) |
| TATA: -0.08 (NI 1.17b - CFO 2.36b) / TA 14.1b) |
| Beneish M = -3.17 (Cap -4..+1) = AA |
As of June 20, 2026, the stock is trading at DKK 179.40 with a total of 159,498 shares traded.
Over the past week, the price has changed by -2.02%,
over one month by -7.33%,
over three months by -3.68% and
over the past year by +1.90%.
Bavarian Nordic has no consensus analysts rating.
P/E Trailing = 11.9007
P/E Forward = 4.99
P/S = 2.3039
P/B = 1.0988
P/EG = 1.8659
Revenue TTM = 5.92b DKK
EBIT TTM = 1.52b DKK
EBITDA TTM = 2.25b DKK
Long Term Debt = 10.3m DKK (from longTermDebt, last quarter)
Short Term Debt = 89.5m DKK (from shortTermDebt, last quarter)
Debt = 266.1m DKK (from shortLongTermDebtTotal, last quarter) + Leases 126.8m
Net Debt = -2.03b DKK (calculated: Debt 266.1m - CCE 2.29b)
Enterprise Value = 11.7b DKK (13.7b + Debt 266.1m - CCE 2.29b)
Interest Coverage Ratio = 130.0 (Ebit TTM 1.52b / Interest Expense TTM 11.7m)
EV/FCF = 8.50x (Enterprise Value 11.7b / FCF TTM 1.38b)
FCF Yield = 11.76% (FCF TTM 1.38b / Enterprise Value 11.7b)
FCF Margin = 23.25% (FCF TTM 1.38b / Revenue TTM 5.92b)
Net Margin = 19.83% (Net Income TTM 1.17b / Revenue TTM 5.92b)
Gross Margin = 47.40% ((Revenue TTM 5.92b - Cost of Revenue TTM 3.11b) / Revenue TTM)
Gross Margin QoQ = 44.87% (prev 37.04%)
Tobins Q-Ratio = 0.83 (Enterprise Value 11.7b / Total Assets 14.1b)
Interest Expense / Debt = 4.40% (Interest Expense 11.7m / Debt 266.1m)
Taxrate = 26.41% (421.2m / 1.59b)
NOPAT = 1.12b (EBIT 1.52b * (1 - 26.41%))
Current Ratio = 6.47 (Total Current Assets 5.97b / Total Current Liabilities 922.4m)
Debt / Equity = 0.02 (Debt 266.1m / totalStockholderEquity, last quarter 12.7b)
Debt / EBITDA = -0.90 (Net Debt -2.03b / EBITDA 2.25b)
Debt / FCF = -1.47 (Net Debt -2.03b / FCF TTM 1.38b)
Total Stockholder Equity = 12.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.49% (Net Income 1.17b / Total Assets 14.1b)
RoE = 9.25% (Net Income TTM 1.17b / Total Stockholder Equity 12.7b)
RoCE = 11.98% (EBIT 1.52b / Capital Employed (Equity 12.7b + L.T.Debt 10.3m))
RoIC = 8.63% (NOPAT 1.12b / Invested Capital 13.0b)
WACC = 6.91% (E(13.7b)/V(14.0b) * Re(6.98%) + D(266.1m)/V(14.0b) * Rd(4.40%) * (1-Tc(0.26)))
Discount Rate = 6.98% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 15.56 | Cagr: 0.25%
[DCF] Terminal Value 75.44% ; FCFF base≈1.38b ; Y1≈1.38b ; Y5≈1.46b
[DCF] Fair Price = 324.6 (EV 22.8b - Net Debt -2.03b = Equity 24.8b / Shares 76.4m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 8.68 | EPS CAGR: 2.52% | SUE: N/A | # QB: 0
Revenue Correlation: 15.04 | Revenue CAGR: 1.23% | SUE: -0.22 | # QB: 0
EPS current Quarter (2026-06-30): EPS=4.50 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=5.30 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=10.49 | Chg30d=+17.38% | Revisions=+43% | GrowthEPS=-40.4% | GrowthRev=-9.5%
EPS next Year (2027-12-31): EPS=10.67 | Chg30d=-2.09% | Revisions=-43% | GrowthEPS=+1.8% | GrowthRev=-0.1%
[Analyst] Revisions Ratio: +43%