Is Novavax, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Novavax, Inc. has moved from expensive to fair. Based on the current metrics, the company appears to be undervalued. Key ratios include a P/E ratio of 2, an EV to EBITDA of 1.38, and a PEG ratio of 0.01, all indicating a significant discount relative to typical valuations in the industry.
In comparison to peers, Novavax's P/E ratio of 2.88 is notably lower than ADMA Biologics, Inc., which has a P/E of 18.56, suggesting that Novavax is trading at a fraction of the value of its more highly valued counterparts. Additionally, while Novavax has faced substantial declines in stock performance, with a 5-year return of -92.43% compared to the S&P 500's 91.29%, this disparity further emphasizes its current undervaluation relative to broader market trends.