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Bavarian Nordic Valuation Multiples

Discover revenue and EBITDA valuation multiples for Bavarian Nordic and other public comps.

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Bavarian Nordic Overview

About Bavarian Nordic

Bavarian Nordic A/S is a biotechnology company focused on the research, development, manufacturing, and commercialization of life-saving vaccines. The vast majority of the company's revenue is generated in the United States, Germany, and other geographic markets. Its products include Encepur, Jynneos, Rabipur, Vaxchora and Vivotif.


Founded

1994

HQ

Denmark
Employees

1.4K+

Financials

LTM Revenue $795M

LTM EBITDA $223M

EV

$1.7B

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Bavarian Nordic Financials

Bavarian Nordic has a last 12-month revenue of $795M and a last 12-month EBITDA of $223M.

In the most recent fiscal year, Bavarian Nordic achieved revenue of $987M and an EBITDA of $299M.

Bavarian Nordic expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Bavarian Nordic P&L

FY 2022 FY 2023 FY 2024 LTM NTM
Revenue $440M $987M $781M $795M XXX
Gross Profit $79.7M $238M $643M XXX XXX
Gross Margin 18% 24% 82% XXX XXX
EBITDA $26.2M $299M $211M $223M XXX
EBITDA Margin 6% 30% 27% 28% XXX
Net Profit -$64.9M -$48.5M $206M XXX XXX
Net Margin -15% -5% 26% XXX XXX
Net Debt $64.5M $156M n/a XXX XXX

Financial data powered by Morningstar, Inc.

Bavarian Nordic Stock Performance

As of February 7, 2025, Bavarian Nordic's stock price is DKK 175 (or $25).

Bavarian Nordic has current market cap of DKK 13.6B (or $1.9B), and EV of DKK 11.9B (or $1.7B).

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Bavarian Nordic Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.7B $1.9B XXX XXX XXX XXX $1.77

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Bavarian Nordic Valuation Multiples

As of February 7, 2025, Bavarian Nordic has market cap of $1.9B and EV of $1.7B.

Bavarian Nordic's trades at 2.1x LTM EV/Revenue multiple, and 7.4x LTM EBITDA.

Analysts estimate Bavarian Nordic's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Bavarian Nordic Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $1.7B XXX XXX XXX
EV/Revenue 2.1x XXX XXX XXX
EV/EBITDA 7.9x XXX XXX XXX
P/E 16.7x XXX XXX XXX
P/E/Growth 2.1x XXX XXX XXX
EV/FCF 20.6x XXX XXX XXX

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Bavarian Nordic Valuation Multiples

Bavarian Nordic's NTM/LTM revenue growth is 12%

Bavarian Nordic's revenue per employee for the last fiscal year averaged $0.7M, while opex per employee averaged $0.3M for the same period.

Over next 12 months, Bavarian Nordic's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Bavarian Nordic's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Bavarian Nordic Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -21% XXX XXX XXX XXX
EBITDA Margin 27% XXX XXX XXX XXX
EBITDA Growth -29% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 39% XXX XXX XXX XXX
Revenue per Employee $0.7M XXX XXX XXX XXX
Opex per Employee $0.3M XXX XXX XXX XXX
S&M Expenses to Revenue 5% XXX XXX XXX XXX
G&A Expenses to Revenue 8% XXX XXX XXX XXX
R&D Expenses to Revenue 32% XXX XXX XXX XXX
Opex to Revenue 44% XXX XXX XXX XXX

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Bavarian Nordic Public Comps

See valuation multiples for Bavarian Nordic public comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
CSL XXX XXX XXX XXX XXX XXX
Imugene XXX XXX XXX XXX XXX XXX
Prescient Therapeutics XXX XXX XXX XXX XXX XXX
GSK India XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Bavarian Nordic M&A and Investment Activity

Bavarian Nordic acquired  XXX companies to date.

Last acquisition by Bavarian Nordic was  XXXXXXXX, XXXXX XXXXX XXXXXX . Bavarian Nordic acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Bavarian Nordic

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Bavarian Nordic

When was Bavarian Nordic founded? Bavarian Nordic was founded in 1994.
Where is Bavarian Nordic headquartered? Bavarian Nordic is headquartered in Denmark.
How many employees does Bavarian Nordic have? As of today, Bavarian Nordic has 1.4K+ employees.
Who is the CEO of Bavarian Nordic? Bavarian Nordic's CEO is Mr. Paul Chaplin.
Is Bavarian Nordic publicy listed? Yes, Bavarian Nordic is a public company listed on CSE.
What is the stock symbol of Bavarian Nordic? Bavarian Nordic trades under BAVA ticker.
When did Bavarian Nordic go public? Bavarian Nordic went public in 1998.
Who are competitors of Bavarian Nordic? Similar companies to Bavarian Nordic include e.g. CSL, Imugene, Prescient Therapeutics, GSK India.
What is the current market cap of Bavarian Nordic? Bavarian Nordic's current market cap is $1.9B
What is the current revenue of Bavarian Nordic? Bavarian Nordic's last 12-month revenue is $795M.
What is the current EBITDA of Bavarian Nordic? Bavarian Nordic's last 12-month EBITDA is $223M.
What is the current EV/Revenue multiple of Bavarian Nordic? Current revenue multiple of Bavarian Nordic is 2.1x.
What is the current EV/EBITDA multiple of Bavarian Nordic? Current EBITDA multiple of Bavarian Nordic is 7.4x.
What is the current revenue growth of Bavarian Nordic? Bavarian Nordic revenue growth between 2023 and 2024 was -21%.
Is Bavarian Nordic profitable? Yes, Bavarian Nordic is EBITDA-positive (as of the last 12 months).

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