Halozyme vs Novavax
Halozyme reported revenue of $1.4 billion in fiscal 2025, 1.2 times Novavax's $1.1 billion in fiscal 2025. Halozyme's revenue grew 37.5% in its latest year, and Novavax's grew 64.7%. Halozyme had an operating margin of 33.6%, against 40.3% at Novavax. Free cash flow was $645 million at Halozyme and −$250 million at Novavax.
Side by side
| Halozyme | Novavax | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $1.4B | $1.1B |
| Revenue growth | 37.5% | 64.7% |
| Revenue growth a year, last 5 years | 39.2% | 18.8% |
| Gross margin | 83.6% | 93.5% |
| Operating margin | 33.6% | 40.3% |
| Net margin | 22.7% | 39.2% |
| Free cash flow | $645M | −$250M |
| Free cash flow margin | 46.1% | −22.3% |
| Return on capital | 19.2% | — |
| Net debt to EBITDA | 4.2x | −1.0x |
| Dividends and buybacks | $342M | $0M |
| Change in diluted share count | −4.3% | 13.7% |
| Last close | $103.63 | $10.78 |
| P/E at the last close | 25.8× | — |
| Insider trades, last 12 months | sold $40.9 million | — |
| Piotroski F-score | 5 of 9 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
HalozymeNovavax
Operating margin
Percent of revenue
HalozymeNovavax
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
HalozymeNovavax