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Valneva SE (FR:VLA)
:VLA
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Valneva
(LSE:VLA)
Rating:49Neutral
Price Target:
€3.00
▲( 7.91% Upside)
Valneva (VLA) vs. iShares MSCI France ETF (EWQ)
Market Cap
€464.67M
Dividend YieldN/A
Average Volume (3M)685.82K
Price to Earnings (P/E)―
Beta (1Y)1.03
Revenue Growth21.64%
EPS Growth-196.47%
CountryFR
Employees713
SectorHealthcare
Sector Strength42
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.06
Shares Outstanding167,271,530
10 Day Avg. Volume446,666
30 Day Avg. Volume685,821
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)2.52
Price to Sales (P/S)0.00
P/FCF Ratio-7.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€5.70Price Target Upside105.04% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Valneva Business Overview & Revenue Model
Company DescriptionValneva SE, a specialty vaccine company, focuses on the development and commercialization of prophylactic vaccines for infectious diseases with unmet needs. Its commercial vaccines for travelers include IXIARO, an inactivated Vero cell culture-derived Japanese encephalitis vaccine indicated for active immunization against Japanese encephalitis; DUKORAL, an oral vaccine for the prevention of diarrhea caused by Vibrio cholera and/or heat-labile toxin producing Enterotoxigenic Escherichia coli bacterium; and VLA2001, a vaccine candidate against SARS-CoV-2. The company also develops VLA15, a vaccine candidate that has completed Phase II clinical trial against Borrelia; and VLA1553, a vaccine candidate, which is in Phase III clinical trial against the chikungunya virus. It sells its products in the United States, Canada, Germany, Austria, Nordics, the United Kingdom, other European countries, and internationally. Valneva SE has collaborations with Pfizer, Inc. to co-develop and commercialize its Lyme disease vaccine; and Instituto Butantan for the development, manufacturing, and marketing of single-shot chikungunya vaccine. The company was founded in 1998 and is headquartered in Saint-Herblain, France.
How the Company Makes MoneyValneva makes money primarily through the development and commercialization of its vaccines. The company generates revenue by selling its approved vaccines directly to healthcare providers, governments, and institutions. Valneva also enters into partnerships and collaborations with other pharmaceutical companies and organizations to co-develop and market vaccines, which can provide additional income through milestone payments, licensing fees, and royalties. Government contracts and funding play a significant role in supporting Valneva's vaccine research and development efforts, contributing to its revenue streams. The company's financial performance is also influenced by regulatory approvals, market demand for its vaccines, and its ability to successfully bring new vaccines to market.
Valneva Financial Statement Overview
Summary
Valneva demonstrates modest revenue growth but faces significant challenges with profitability and cash flow management. The company has made some improvements in gross profit margins and free cash flow, yet struggles with negative net income and operational inefficiencies. The balance sheet remains relatively stable with controlled leverage but is affected by consistent net losses. Overall, Valneva needs to address its profitability issues to enhance financial health.Income Statement
Valneva's income statement reveals fluctuating revenue with a recent slight increase in TTM. The gross profit margin showed improvement to 46.56% in TTM from 41.89% last year, indicating better cost management. However, the net profit margin remains negative at -43.20% in TTM, reflecting ongoing challenges in achieving profitability. EBIT and EBITDA margins are also negative, highlighting operational inefficiencies, although EBITDA margin narrowed slightly. Overall, the company is struggling with profitability despite revenue growth.42
Neutral
Balance Sheet
Valneva's balance sheet shows a moderate debt-to-equity ratio of 1.20 in TTM, indicating a balanced approach between debt and equity financing. The equity ratio is 36.34% in TTM, revealing a relatively stable equity position. However, the company's return on equity remains negative at -45.87% in TTM, impacted by continuous net losses. Although leverage is controlled, the lack of profitability affects the overall financial stability.55
Neutral
Cash Flow
The cash flow statement indicates ongoing cash flow challenges, with negative operating cash flow in TTM. Free cash flow improved slightly from -83.66M in the last year to -60.32M in TTM, but still indicates cash consumption. The operating cash flow to net income ratio is 0.58 in TTM, suggesting inefficiencies in converting income into cash. Despite improvements in free cash flow, the company continues to face liquidity pressures.48
Neutral
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 186.06M | 169.58M | 153.71M | 361.30M | 348.08M | 110.32M | Gross Profit |
| 86.64M | 71.04M | 52.84M | 36.86M | 160.16M | 56.02M | EBIT |
| -60.84M | 13.33M | -82.09M | -113.44M | -61.39M | -55.11M | EBITDA |
| -55.24M | 32.08M | -57.72M | -99.39M | -46.87M | -46.11M | Net Income Common Stockholders |
| -80.39M | -12.25M | -101.43M | -143.28M | -73.42M | -64.39M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 126.08M | 168.27M | 126.08M | 289.43M | 346.64M | 204.39M | Total Assets |
| 469.39M | 500.03M | 460.06M | 621.34M | 817.35M | 449.16M | Total Debt |
| 208.82M | 216.31M | 208.82M | 152.38M | 114.66M | 105.45M | Net Debt |
| 82.74M | 48.04M | 82.74M | -137.05M | -231.99M | -98.94M | Total Liabilities |
| 341.14M | 318.78M | 331.81M | 401.55M | 646.77M | 371.74M | Stockholders Equity |
| 128.25M | 181.25M | 128.25M | 219.80M | 170.58M | 77.42M |
| Cash Flow | Free Cash Flow | ||||
| -60.32M | -83.66M | -217.06M | -274.67M | -16.27M | 118.27M | Operating Cash Flow |
| -46.93M | -67.22M | -202.74M | -245.34M | 76.90M | 137.74M | Investing Cash Flow |
| -10.76M | 76.92M | -20.59M | -29.05M | -93.12M | -19.34M | Financing Cash Flow |
| 32.56M | 30.68M | 63.08M | 215.12M | 154.50M | 21.74M |
Valneva Technical Analysis
Negative
2.78
Price Trends
3.04
Negative
2.96
Negative
2.77
Positive
Market Momentum
-0.06
Positive
40.30
Neutral
43.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:VLA, the sentiment is Negative. The current price of 2.78 is below the 20-day moving average (MA) of 2.89, below the 50-day MA of 3.04, and above the 200-day MA of 2.77, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 40.30 is Neutral, neither overbought nor oversold. The STOCH value of 43.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:VLA.
Valneva Peers Comparison
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $5.14B | 3.03 | -43.89% | 2.83% | 16.75% | -0.06% | |
49 Neutral | €464.67M | ― | -44.11% | ― | 21.64% | -196.47% | |
| $219.42M | 109.06 | 2.17% | ― | ― | ― | ||
| $205.59M | ― | -160.99% | ― | ― | ― | ||
| €320.94M | ― | -148.98% | ― | ― | ― | ||
| €5.55B | 78.21 | 0.84% | 4.99% | ― | ― | ||
| $116.07M | ― | -58.55% | ― | ― | ― |
* Healthcare Sector Average
Performance Comparison
FR:VLA
Valneva
2.78
-1.15
-29.23%
GNFTF
Genfit
3.61
0.66
22.37%
IPHYF
Innate Pharma SA
1.45
-1.41
-49.30%
GB:0RA9
Abivax SA
5.10
-7.70
-60.16%
GB:0J6V
Covivio SA
49.82
3.65
7.91%
CMVLF
Cellectis SA
1.25
-1.43
-53.36%
Valneva Earnings Call Summary
Earnings Call Date:May 07, 2025
(Q1-2025)
| % Change Since: -3.74%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Positive
Valneva's earnings call demonstrated strong revenue growth and significant regulatory achievements, notably in the chikungunya and Lyme disease vaccine programs. Improved gross margins and a robust cash position were also highlighted. However, concerns over adverse events related to IXCHIQ and a negative operating loss were noted as challenges.Q1-2025 Updates
Positive Updates
Strong Revenue Growth
Product sales reached €48.6 million, a 51.2% increase compared to the first quarter of the prior year. IXIARO sales were up 65.5% year-over-year, driven by increased sales to the US military and travel channels.
Regulatory Achievements
Key regulatory achievements for IXCHIQ include marketing authorization in the UK, submission for adolescent label extension, and marketing authorization in Brazil for the chikungunya vaccine.
Pipeline Progress
Valneva initiated the first vaccination in the Phase 2 infant study in Africa for the Shigella vaccine candidate and reported positive Phase 2 pediatric results for IXCHIQ.
Improved Gross Margins
IXIARO's gross margin improved to 72.6%, exceeding pre-COVID levels, while DUKORAL's gross margin reached 52.2%, up from below 40% in the first quarter of last year.
Significant Cash Position
Total cash and cash equivalents were €153 million, with operational cash burn significantly reduced from €28.4 million to €8.1 million compared to the prior year.
Negative Updates
Adverse Events for IXCHIQ
Recent changes to IXCHIQ recommendations were made due to reports of serious adverse events in frail elderly individuals, leading to a precautionary recommendation for use in those 65 and older.
Negative Operating Loss
The operating loss for the first quarter of 2025 was reported at minus €6 million, compared to an operating profit of €68.2 million in the first quarter of the prior year.
Uncertain Impact of Tariffs
Potential impacts from tariffs and political dynamics in the United States are uncertain, with the company monitoring the situation closely.
Company Guidance
During the call, Valneva provided guidance for fiscal year 2025, maintaining their product sales forecast at €170 million to €180 million and total revenues at €180 million to €190 million. The company aims to reduce operational cash burn by 50% for the year, with a target of achieving key milestones with existing cash reserves. Total R&D expenses are projected to be between €90 million and €100 million, offset by grant funding and R&D tax credits. Valneva aims for sustained profitability by 2027, contingent on the successful approval and commercialization of its Lyme disease vaccine. The company's cash position at the end of March 2025 was €153 million, with a significant reduction in cash used in operations from €28.4 million to €8.1 million compared to the previous year, primarily driven by increased sales and effective cost control.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.