1. Denmark Stocks

  2. •

    Healthcare

  3. •

    Biotechnology
Bavarian Nordic A/S

Bavarian Nordic A/S

BAVA.CO
Bavarian Nordic A/SDK flagNASDAQ Copenhagen
179.40
DKK
-3.20
- -
13.84BMarket Cap
Bavarian Nordic A/S
BAVA.CO
(NASDAQ Copenhagen)

Recent

price

179.40

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
21.34
19.98
30.82
36.76
36.52
29.04
26.46
34.27
12.28
16.23
34.27
30.08
44.74
92.06
73.19
- -
72.89
Revenue per Share
-26.5
-10.24
-7.28
-1.42
0.78
1.69
0.8
4.54
-8.88
-8.5
5.13
-7.37
-4.93
19.23
12.65
- -
14.36
Basic EPS, GAAP
-20.5
-17.33
-0.76
-0.25
6.99
1.29
4.63
3.44
-12.27
-72.22
-2.49
-22.45
-16.49
1.85
3.36
- -
17.08
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
53.08
10.86
28.62
27.68
37.49
38.33
53.77
62.01
52
43.72
89.38
115.58
99.52
131.81
143.69
- -
152.04
Book Value per Share
46
41.04
25.8
26.43
34.3
35.13
50.84
61.86
52.68
-88.68
-7.33
24.89
17.15
50.3
65.01
- -
83.37
Tangible Book Value per Share
15
26
33
33
33
35
38
40
41
41
54
63
70
77
78
- -
82
Basic Weighted Avg Shares
314
524
1,017
1,213
1,217
1,021
1,007
1,370
501
662
1,852
1,898
3,151
7,062
5,716
6,244
5,955
Sales/Revenue/Turnover
-150.95
-58.87
-3.12
2.76
1.37
0.15
3.28
25.78
-70.81
-49.58
20.49
-16.52
-2.25
21.28
16.44
28.9
25.83
Operating Margin (%)
50
54
56
46
45
44
45
38
42
57
360
388
399
554
625
714
726
Depreciation Expense
-390
-268
-240
-47
26
59
31
181
-362
-347
278
-465
-347
1,475
988
1,375
1,174
Net Income, GAAP
- -
- -
- -
853.45
59.7
23.45
22.63
40.01
- -
- -
1.58
- -
- -
0.52
- -
23.63
26.41
Effective Tax Rate (%)
-124.15
-51.26
-23.61
-3.85
2.13
5.82
3.04
13.24
-72.3
-52.34
14.98
-24.49
-11.03
20.89
17.28
22.03
19.71
Profit Margin (%)
66
448
410
511
736
814
1,531
2,524
2,026
-1,392
1,429
2,845
2,197
2,615
2,990
5,140
5,045
Working Capital
98
90
37
72
33
31
30
400
398
443
447
237
629
99
87
85
93
LT Debt
810
1,208
1,000
976
1,252
1,342
2,017
2,506
2,181
1,865
4,894
7,375
7,150
10,340
11,409
12,870
12,688
Total Equity
- -
- -
- -
-23.44
0.57
0.09
1.49
8.55
- -
- -
8.24
- -
- -
15.4
- -
11.23
9.24
Return on Invested Capital (%)
- -
- -
- -
-8.25
2.43
4.61
1.93
7.45
- -
- -
10.13
- -
- -
16.61
- -
11.49
9.83
Return on Capital (%)
-53.74
-50.38
-39.07
-5.03
2.4
4.58
1.8
8.02
-15.74
-17.76
8.39
-7.67
-4.86
17.23
9.26
11.54
9.89
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
43
46
46
LT Borrowings
11
11
10
LT Finance Leases
80
74
83
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
78
78
77
Market Capitalization
18,376
15,355
15,773

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
6,887
6,737
5,967
Cash, Cash Equivalents & STI
2,978
3,334
2,292
Accounts Receivable, Net
1,226
780
882
Inventories
2,517
2,514
2,663
Total Current Liabilities
1,795
1,598
922
Payables & Accruals
- -
- -
- -
ST Debt
43
46
46
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
32.48%
23.08%
12.81%
Free Cash Flow
152.04%
265.1%
419.69%
Net Income, GAAP
-85.09%
-162.24%
39.21%
Sales/Revenue/Turnover
36.6%
36.56%
9.23%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
831
1,427
1,363
2,094
5,716
2025
1,347
1,652
1,795
1,451
6,244
2026
1,058
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-1.5
3.3
0.9
- -
12.65
2025
2.7
4.5
13.7
- -
- -
2026
0.2
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Similar Companies
Sensei Biotherapeutics, Inc. (SNSE)
AC Immune S.A. (ACIU)
Vincerx Pharma, Inc. (VINC)
OncoSec Medical Incorporated (ONCS)
Acticor Biotech SAS (ALACT.PA)
Guangdong VTR Bio-Tech Co., Ltd. (300381.SZ)
Business
Bavarian Nordic A/S, a Danish biotechnology company founded in 1994 and headquartered in Hellerup, Denmark, develops, manufactures, and commercializes life-saving vaccines utilizing proprietary MVA-BN viral vector technology; its core marketed products include non-replicating smallpox and mpox vaccines (IMVAMUNE in Canada, IMVANEX in the EU, JYNNEOS in the US), rabies vaccines (Rabipur/RabAvert), tick-borne encephalitis vaccine (Encepur), oral cholera vaccine (Vaxchora), oral typhoid vaccine (Vivotif), and the chikungunya vaccine Vimkunya approved in the US and EU in 2025; it also supplies the Mvabea booster as part of Janssen's Ervebo regimen for Ebola and Marburg viruses. The company operates manufacturing facilities in Kvistgård, Denmark, and Thörishaus, Switzerland, with research and development sites in Martinsried, Germany, and offices across the United States, Canada, France, and other regions, serving governments for public health preparedness and private markets for travel vaccines in the US, Europe, and internationally. Recent strategic expansions include the 2019 acquisition of Rabipur/RabAvert and Encepur from GlaxoSmithKline and the 2023 purchase of Vivotif, Vaxchora, and a chikungunya candidate from Emergent BioSolutions; in 2025, a proposed DKK 19 billion ($3 billion) all-cash takeover by a Nordic Capital and Permira consortium at DKK 233 per share was recommended by the board but terminated in November after receiving only 60% shareholder acceptance short of the 66.7% threshold, enabling the company to persist as an independent listed entity on Nasdaq Copenhagen focused on growth.