Invivyd, Inc. (IVVD) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+1722.3%

$10.61

vs $0.58 price

Levered DCF

$3.98

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

-4.47

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	-8.23×	-0.31×	-2.18×	-0.69×	-3.44×	-35.39×
P/B	1.76×	0.78×	2.43×	0.46×	1.44×	-35.6×
P/S	7.96×	2.07×	0×	0×	0×	0×
EV / EBITDA	-3.99×	0.09×	-1.13×	-0.33×	-1.19×	0×
Gross margin	93.0%	93.6%	0.0%	0.0%	0.0%	0.0%
Operating margin	-104.0%	-696.8%	0.0%	0.0%	0.0%	0.0%
Net margin	-98.2%	-669.4%	0.0%	0.0%	0.0%	0.0%
Current ratio	7.24×	1.62×	4.47×	15.06×	9.94×	8.98×
Debt / equity	0.01×	0.02×	0.01×	0.01×	0×	0×
Interest coverage	0×	0×	0×	-5.76×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-21.7%	-251.6%	-111.9%	-67.8%	-40.6%	171.6%
Return on invested capital	-22.8%	-256.9%	-118.0%	-69.0%	-40.7%	-107.4%
Return on assets	-19.0%	-131.2%	-86.7%	-63.0%	-36.6%	-95.4%
Free cash flow yield	-13.7%	-324.8%	-40.3%	-136.5%	-23.0%	-0.6%
Earnings yield	-12.3%	-323.5%	-46.0%	-148.6%	-28.2%	-4.8%
Enterprise value	$201.2M	-$15.5M	$233.1M	$74.1M	$262.1M	$2.2B
Net debt / EBITDA	4.45×	0.41×	0.96×	0.39×	2.47×	0×
Cash conversion cycle (days)	1,245	-2,196	0	0	0	0