CureVac (CVAC) AI Stock Analysis

• Market Cap: $936.76M
• Dividend Yield: N/A
• Average Volume (3M): 1.51M
• Price to Earnings (P/E): 5.8
• Beta (1Y): 1.18
• Revenue Growth: -86.40%
• EPS Growth: 30.72%
• Country: US
• Employees: 825
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.08
• Shares Outstanding: 225,181,640
• 10 Day Avg. Volume: 1,257,603
• 30 Day Avg. Volume: 1,509,382
• PEG Ratio: -0.03
• Price to Book (P/B): 1.06
• Price to Sales (P/S): 1.38
• P/FCF Ratio: 8.86
• Enterprise Value/Market Cap: 0.73
• Enterprise Value/Revenue: 1.33
• Enterprise Value/Gross Profit: 1.41
• Enterprise Value/Ebitda: 2.85
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.49
• Revenue Forecast (FY): $58.69M

• Rating: 70 Outperform
• Price Target: $6.00 ▲(9.49% Upside)

CureVac's strong financial performance and attractive valuation are the primary drivers of its overall score. The company's robust profitability metrics and low leverage enhance its financial stability. However, technical analysis indicates some short-term bearish momentum, which slightly offsets the positive financial and valuation aspects.

Positive Factors

Strategic Merger

The merger with BioNTech is a strategic move that could enhance CureVac's market positioning and operational capabilities, leveraging complementary technologies in mRNA science.

Patent Litigation Resolution

Resolving patent litigation provides financial gain and operational clarity, allowing CureVac to focus on core business activities and strengthening its industry position.

Cash Flow Improvement

Improved cash flow generation indicates strong operational efficiency, enhancing financial flexibility and supporting long-term strategic investments.

Negative Factors

Revenue Decline

A decline in revenue growth suggests potential challenges in market demand or competitive pressures, which could impact future profitability and market share.

Financial Losses

Reporting financial losses highlights operational difficulties and could strain resources, affecting the company's ability to invest in R&D and growth initiatives.

Decreased Cash Reserves

A reduction in cash reserves may limit CureVac's financial flexibility, potentially impacting its ability to fund ongoing projects and respond to market opportunities.

CureVac Business Overview & Revenue Model

Company Description

CureVac N.V., a clinical-stage biopharmaceutical company, focuses on developing various transformative medicines based on messenger ribonucleic acid (mRNA). It is developing prophylactic vaccines, such as mRNA-based vaccine candidates CV2CoV, which is in Phase 1 clinical trial against SARS-CoV-2; CV7202, a prophylactic mRNA-based vaccine, which has completed Phase 1 clinical trial for rabies virus glycoprotein; and CVSQIV, which is in Phase 1 clinical trial against influenza, as well as vaccine for lassa fever, yellow fever, respiratiory syncytial virus, rotavirus, malaria, and universal influenza. The company also develops RNA-based cancer immunotherapies, including CV8102, which is in Phase 1 clinical trial for treating cutaneous melanoma and adenoidcystic carcinoma, as well as squamous cell cancer of skin, head, and neck. The company was founded in 2000 and is headquartered in Tübingen, Germany.

How the Company Makes Money

CureVac generates revenue primarily through the development and commercialization of its mRNA-based products. Key revenue streams include partnerships and collaborations with pharmaceutical companies, government contracts for vaccine development, and potential future sales of its therapeutic products once they receive regulatory approval. Significant partnerships, such as those with global pharmaceutical companies and public health organizations, contribute to funding and resource sharing, enhancing its research and development capabilities. Additionally, CureVac may receive milestone payments and royalties from its collaborators, further bolstering its earnings as it advances its pipeline of mRNA therapeutics and vaccines.

CureVac Financial Statement Overview

Summary

CureVac demonstrates a strong financial position with impressive profitability metrics and a solid balance sheet. The company has effectively managed its debt levels and equity, resulting in high returns on equity. While revenue growth has faced challenges, the company has shown resilience in improving its cash flow generation.

Income Statement

CureVac's income statement shows a strong recovery with a TTM gross profit margin of 87.6% and a net profit margin of 34.5%. The EBIT and EBITDA margins are also robust at 39.9% and 43.5%, respectively. However, the revenue growth rate has declined by 2.5% in the TTM period, indicating potential challenges in sustaining revenue growth.

Balance Sheet

The balance sheet is solid with a low debt-to-equity ratio of 0.058, indicating low leverage. The return on equity is strong at 29.6%, reflecting efficient use of equity to generate profits. The equity ratio stands at 85.1%, showcasing a strong equity base relative to total assets.

Cash Flow

CureVac's cash flow statement highlights a significant improvement in free cash flow growth at 36.7% in the TTM period. The operating cash flow to net income ratio is healthy at 2.56, suggesting strong cash generation relative to net income. However, the free cash flow to net income ratio of 0.91 indicates that not all net income is translating into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	510.51M	535.18M	53.76M	67.42M	102.99M	48.90M
Gross Profit	484.00M	429.35M	-70.61M	-116.57M	-135.21M	34.73M
EBITDA	238.59M	209.69M	-234.09M	-209.39M	-386.49M	-123.09M
Net Income	193.64M	162.19M	-260.17M	-249.03M	-411.72M	-129.07M
Balance Sheet
Total Assets	688.88M	802.83M	788.25M	860.47M	1.16B	1.51B
Cash, Cash Equivalents and Short-Term Investments	395.81M	485.37M	405.11M	500.28M	816.11M	1.33B
Total Debt	36.03M	38.97M	41.82M	42.09M	28.89M	30.09M
Total Liabilities	102.51M	106.22M	271.31M	327.22M	469.77M	800.01M
Stockholders Equity	586.37M	696.61M	516.94M	533.25M	688.48M	711.35M
Cash Flow
Free Cash Flow	196.15M	83.41M	-323.09M	-379.40M	-861.03M	475.05M
Operating Cash Flow	204.08M	101.85M	-267.89M	-286.18M	-733.13M	522.40M
Investing Cash Flow	-7.93M	-18.44M	-55.20M	-93.50M	-127.90M	-45.27M
Financing Cash Flow	-5.39M	-5.11M	230.89M	63.17M	344.96M	819.83M

CureVac Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 5.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVAC, the sentiment is Negative. The current price of 5.48 is above the 20-day moving average (MA) of 5.01, above the 50-day MA of 5.19, and above the 200-day MA of 4.70, indicating a bearish trend. The MACD of -0.23 indicates Positive momentum. The RSI at 23.02 is Positive, neither overbought nor oversold. The STOCH value of 8.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CVAC.

CureVac Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CVAC	70 Outperform	$936.76M	5.79	17.68%	―	-86.40%	30.72%
STOK	70 Outperform	$1.83B	48.43	15.02%	―	1128.17%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ABCL	49 Neutral	$1.08B	-6.25	-16.81%	―	7.16%	3.95%
SNDX	48 Neutral	$1.81B	-5.74	-129.32%	―	597.19%	0.45%
LENZ	46 Neutral	$563.22M	-8.54	-28.78%	―	―	70.19%
ELVN	36 Underperform	$1.00B	-9.14	-25.43%	―	―	3.18%

CureVac Corporate Events

CureVac Shareholders Approve BioNTech Exchange Offer

On November 25, 2025, CureVac N.V. announced the results of its Extraordinary General Meeting, where shareholders overwhelmingly approved BioNTech SE’s public exchange offer for all outstanding shares in CureVac, with over 99.16% of votes in favor. The approval includes a legal merger and the appointment of new directors, marking a significant step in CureVac’s strategic alignment with BioNTech, potentially impacting its market positioning and operational dynamics.

CureVac Reports Q3 2025 Financials and BioNTech Transaction Progress

On November 24, 2025, CureVac N.V. announced its financial results for the third quarter and first nine months of 2025. The company reported significant progress in its planned transaction with BioNTech, including obtaining clearance from the German Federal Cartel Office and the commencement of BioNTech’s public exchange offer for CureVac shares. CureVac’s financial performance showed a decrease in revenues compared to the previous year due to the absence of a one-time revenue from a prior agreement with GlaxoSmithKline. However, the company maintained a strong cash position and reaffirmed its cash runway into 2028. The announcement also highlighted ongoing developments in oncology, including the receipt of Clinical Trial Application clearance for a lung cancer therapy and progress in glioblastoma studies.

CureVac Announces Extraordinary Meeting for Merger with BioNTech

On October 24, 2025, CureVac N.V. announced an extraordinary general meeting of shareholders scheduled for November 25, 2025, to discuss a merger proposal with BioNTech SE. The agenda includes a legal merger where CureVac will merge into CureVac Merger B.V., with BioNTech acquiring ordinary shares in exchange for American Depositary Shares. This merger is part of a strategic reorganization aimed at enhancing CureVac’s market positioning and operational capabilities.