Vaxcyte (PCVX) Operating Expenses (2019 - 2026)
Vaxcyte's Operating Expenses was $302.78 million in Q2 2026, up 33.8% from $226.22 million a year earlier but down 12.5% from the prior quarter.
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Analysis
Vaxcyte (PCVX) Operating Expenses (2019 - 2026) Analysis & Trends
On a trailing twelve-month basis, Vaxcyte's Operating Expenses was $1.17 billion through Jun 30, 2026, up 64.3% year-over-year; for FY2025, it was $923.68 million, up 62.2% from FY2024.
- Operating Expenses has now increased for seven consecutive years, with a five-year compound annual growth rate of 59.5% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $569.55 million in FY2024 (+21.7%), $468.04 million in FY2023 (+101.5%), $232.26 million in FY2022 (+124.0%) and $103.67 million in FY2021 (+15.7%).
- Quarterly Operating Expenses has moved between $26.95 million (Q3 2021) and $345.85 million (Q1 2026) over five years.
- Compared with a year earlier, Operating Expenses has increased for six straight quarters, with growth averaging 47.4% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q4 2022 (growth of 190.1%); the worst was Q4 2024 (a decline of 17.5%).
- Per Business Quant data, PCVX's Operating Expenses in the three quarters before Q2 2026 was $345.85 million (Q1 2026), $274.28 million (Q4 2025) and $242.38 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 2.09 Bn |
| 10 | Vaxcyte | 8.44 Bn | 8.44 Bn | - | 302.78 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 302.78 Mn |
| Mar 31, 2026 | 345.85 Mn |
| Dec 31, 2025 | 274.28 Mn |
| Sep 30, 2025 | 242.38 Mn |
| Jun 30, 2025 | 226.22 Mn |
| Mar 31, 2025 | 180.79 Mn |
| Dec 31, 2024 | 162.17 Mn |
| Sep 30, 2024 | 139.92 Mn |
| Jun 30, 2024 | 152.98 Mn |
| Mar 31, 2024 | 114.47 Mn |
| Dec 31, 2023 | 196.68 Mn |
| Sep 30, 2023 | 113.03 Mn |
| Jun 30, 2023 | 87.15 Mn |
| Mar 31, 2023 | 71.19 Mn |
| Dec 31, 2022 | 86.57 Mn |
| Sep 30, 2022 | 58.58 Mn |
| Jun 30, 2022 | 47.89 Mn |
| Mar 31, 2022 | 39.22 Mn |
| Dec 31, 2021 | 29.85 Mn |
| Sep 30, 2021 | 26.95 Mn |
API Access
Vaxcyte Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PCVX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PCVX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PCVX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();