Mannkind vs Novavax
Novavax is the larger business, with $1.12bn of revenue in fiscal 2025 against $349m for Mannkind (3.2 times as much). Novavax grew faster (64.7% against 22.2%). Novavax kept more of each dollar of sales as profit: a net margin of 39.2% against 1.7%.
| Latest fiscal year | MannkindMNKD, 2025 | NovavaxNVAX, 2025 |
|---|---|---|
| Revenue | $349m | $1.12bn |
| Revenue growth | 22.2% | 64.7% |
| Net income | $5.9m | $440m |
| Operating margin | 11.1% | 40.3% |
| Net margin | 1.7% | 39.2% |
| Return on equity | — | — |
| Free cash flow | $13.7m | −$250m |
| Cash | $74.9m | $241m |
| Total debt | $361m | $244m |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | 749 |
| Market value | $1.16bn | $1.58bn |
| Price vs our value range | — | — |
| Moat score | 20 (Weak) | 19 (Weak) |
| Insider trades, 12 months | 1 buys, 14 sales | 0 buys, 0 sales |