Vaxcyte, Inc. (PCVX) Stock Analysis and Metrics

Sector: Healthcare Industry: Biotechnology CIK: 0001649094

P/B 2.09

P/E -9.19

P/S 0.00

Market Cap 6.04 Bn

ROIC (Qtr) -26.46

Div Yield % 0.00

Rev 1y % (Qtr) 0.00

Total Debt (Qtr) 84.44 Mn

Debt/Equity (Qtr) 0.03

About

Vaxcyte, Inc., a clinical-stage vaccine innovation company, is dedicated to protecting humanity from bacterial diseases. The company leverages its proprietary XpressCF cell-free protein synthesis platform to develop broad-spectrum conjugate and novel protein vaccines. Vaxcyte's operations span various countries, focusing on the development of high-fidelity vaccines to prevent or treat bacterial infectious diseases. Revenue generation for Vaxcyte primarily comes from its vaccine candidates, including VAX-24, VAX-31, VAX-A1, VAX-PG, and VAX-GI. VAX-24,...

Vaxcyte, Inc., a clinical-stage vaccine innovation company, is dedicated to protecting humanity from bacterial diseases. The company leverages its proprietary XpressCF cell-free protein synthesis platform to develop broad-spectrum conjugate and novel protein vaccines. Vaxcyte's operations span various countries, focusing on the development of high-fidelity vaccines to prevent or treat bacterial infectious diseases.

Revenue generation for Vaxcyte primarily comes from its vaccine candidates, including VAX-24, VAX-31, VAX-A1, VAX-PG, and VAX-GI. VAX-24, a 24-valent, broad-spectrum, carrier-sparing investigational PCV, aims to prevent invasive pneumococcal disease (IPD) by covering an additional 14-26% of strains beyond current standard-of-care PCVs. VAX-31, built on VAX-24 technology, expands strain coverage to 31 strains. VAX-A1, a novel conjugate vaccine, prevents disease caused by Group A Streptococcus, while VAX-PG targets the keystone pathogen responsible for periodontitis. VAX-GI is a preclinical vaccine candidate developed for preventative treatment of dysentery and shigellosis.

Vaxcyte's competitive position is bolstered by its proprietary technology, enabling the production of complex proteins and antigens. The company's lead vaccine candidate, VAX-24, offers broad-spectrum protection against IPD. Notable competitors include Pfizer, Merck, and GlaxoSmithKline. Vaxcyte's competitive advantage lies in its ability to address the significant unmet medical need for broad-spectrum protection against IPD.

Pharmaceutical companies and government agencies involved in vaccine development and distribution comprise Vaxcyte's customer base. Products are designed for both clinical trial and commercial settings, with plans to partner with these entities for commercialization.

Vaxcyte's brand names and trade names include VAX-24, VAX-31, VAX-A1, VAX-PG, and VAX-GI, highlighting the company's focus on developing high-fidelity vaccines to protect humankind from bacterial diseases.

Stock Price Chart

Analysis

Pros

Healthy cash reserves of 281.08M provide 48.71x coverage of short-term debt 5.77M, demonstrating strong liquidity position and minimal refinancing risk.
Strong tangible asset base of 3.17B provides 37.56x coverage of total debt 84.44M, indicating robust asset backing and low credit risk.
Long-term investments of 960.72M provide solid 12.21x coverage of long-term debt 78.67M, indicating strategic financial planning.
Short-term investments of 1.43B provide solid 9.84x coverage of other current liabilities 145.31M, indicating strong liquidity.
Tangible assets of 3.17B provide robust 21.83x coverage of other current liabilities 145.31M, indicating strong asset backing.

Cons

Investment activities of (234.94M) provide weak support for R&D spending of 685.86M, which is -0.34x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
The company's operating cash flow of (542.15M) shows concerning coverage of stock compensation expenses of 127.22M, with a -4.26 ratio indicating potential earnings quality issues.
Short-term investments of 1.43B significantly exceed cash reserves of 281.08M, which is 5.09x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.
Free cash flow of (620.73M) provides weak coverage of capital expenditures of 78.58M, with a -7.90 ratio suggesting additional external financing needs for growth initiatives.
Operating earnings of (657.20M) show weak coverage of depreciation charges of 19.84M, with a -33.12 ratio indicating high capital intensity and potential reinvestment needs.

Peer Comparison

Companies in the Biotechnology

S.No.	Ticker	Company	Market Cap	P/E	P/S	Total Debt (Qtr)
1	SMMT	Summit Therapeutics Inc.	1,349.40 Bn	-1,464.17	0.00	0.01 Bn
2	ONC	BeOne Medicines Ltd.	437.43 Bn	6,381.20	87.97	1.90 Bn
3	VRTX	Vertex Pharmaceuticals Inc / Ma	116.09 Bn	31.59	9.90	1.83 Bn
4	REGN	Regeneron Pharmaceuticals, Inc.	78.10 Bn	17.06	5.48	2.71 Bn
5	ALNY	Alnylam Pharmaceuticals, Inc.	55.87 Bn	1,282.42	17.40	3.21 Bn
6	ARGX	Argenx Se	52.85 Bn	35.08	27,559.65	-
7	BNTC	Benitec Biopharma Inc.	41.75 Bn	-998.33	0.00	0.00 Bn
8	INSM	INSMED Inc	37.80 Bn	-31.93	84.56	0.74 Bn

Industry Comparisons

Current Valuation

Metric	Value	Industry
EV to Assets	1.84	12.31
EV to Cash from Ops.	-10.74	23.25
EV to Debt	68.94	738.44
EV to EBIT	-8.86	-9.16
EV to EBITDA	-7.35	6.95
EV to Free Cash Flow [EV/FCF]	-9.38	21.90
EV to Market Cap	0.96	65.67
EV to Revenue	0.00	227.32
Price to Book Value [P/B]	2.09	22.34
Price to Earnings [P/E]	-9.19	-11.77

Dividend Metrics

Metric	Value	Industry	Percentile
Dividend Coverage Ratio	0.00	-11.94
Dividend Payout Ratio %	0.00	0.16
Dividend per Basic Share	0.00	0.01
FCF Dividend Payout Ratio %	0.00	-0.14
Interest Coverage	0.00	841.00

Growth Metrics

Metric	Value	Industry
Capex Growth (1y) %	46.25	-27.13
Cash and Equivalents Growth (1y) %	-73.24	734.65
Dividend Growth (1y) %	0.00	0.01
EBIAT Growth (1y) %	-29.46	-46.93
EBITDA Growth (1y) %	-34.18	-1.68
EBIT Growth (1y) %	-29.46	-56.45
EBT Growth (1y) %	-29.46	-12.70
EPS Growth (1y) %	-5.22	-28.31
FCF Growth (1y) %	-0.73	-31.90
Gross Profit Growth (1y) %	0.00	226.84

Liquidity Ratios

Metric	Value	Industry
Asset Utilization Ratio	0.00	0.14
Cash Payout Ratio	0.00	0.00
Cash Ratio	1.41	3.85
Current Ratio	8.83	7.27
Debt to Equity Ratio	0.03	0.40
Interest Cover Ratio	0.00	841.00
Times Interest Earned	0.00	841.00

Profitability

Metric	Value	Industry	Percentile
EBITDA Margin %	0.00	-18,234.31
EBIT Margin %	0.00	-18,580.80
EBT Margin %	0.00	-19,488.74
Gross Margin %	0.00	-7.59
Net Profit Margin %	0.00	-19,439.22

Vaxcyte, Inc. (NASDAQ: PCVX)