VALNNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
Valneva SE
Financials through Q4 FY2025, quarter ended Dec 31, 2025Last filing: 20-F on Mar 17, 2026
$5.51−0.10 (-1.78%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
38.7%−12.1 pts over 5 years
Operating margin
-47.0%+3.0 pts over 5 years
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.0% | -21.5% | +9.6% | – | |
| Gross profit | -5.0% | +22.4% | +3.8% | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Current ratio | – | 1.75 | 2.38 | |
| Net debt to EBITDA | – | 3.33× | -1.15× | |
| Interest coverage | -0.3× | -5.1× | -2.0× | |
| Inventory turnover | – | – | 2.1× | |
| Capex to revenue | 8.3% | 17.2% | 2.5% | |
| Diluted shares | 92M | 91M | 168M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Valneva generated €645.10M from operations and spent €153.99M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
€645.10M
Used
€153.99M
Capital expenditure€153.99M100%Dividends€00%Share buybacks€00%
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
0of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zero-€52.89M
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net income-€52.89M vs –
- Less leverageLong-term debt to assets fell33.3% → 40.4%
- Better liquidityCurrent ratio rose2.61 → 2.38
- No dilutionShare count did not rise146M → 168M
- Gross margin improvedGross margin up on the prior year41.89% → 38.66%
- More efficientAsset turnover rose0.37 → 0.35