Vaxcyte, Inc. (PCVX) 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

-100.9%

-$0.56

vs $60.78 price

Levered DCF

-$0.40

After debt service

Piotroski score

0 / 9

Weak

Altman Z-score

13.18

Safe zone

Rating

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-8.2×	-21.54×	-15.17×	-13.94×	-12.33×	-8.95×	-1.85×	-3.22×
P/B	2.34×	3.02×	4.92×	3.26×	4.35×	2.27×	-0.93×	-1.64×
P/S	0×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	-8.54×	-21.58×	-14.62×	-10.72×	-12.24×	-4.54×	-0.82×	-1.03×
Gross margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	7.91×	12.75×	7.54×	23.26×	8.93×	8.3×	5.58×	9.93×
Debt / equity	0.09×	0.02×	0.02×	0.02×	0.06×	0×	-0×	-0.01×
Interest coverage	0×	0×	0×	-116,128×	-14,810×	-12,797.29×	-1,353.83×	-473.77×
Dividend yield	0.0%	0.0%	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%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-28.5%	-14.0%	-32.4%	-23.4%	-35.2%	-25.8%	47.3%	51.1%
Return on invested capital	-32.5%	-16.9%	-36.9%	-23.9%	-34.5%	-25.9%	-98.8%	-55.2%
Return on assets	-25.2%	-13.2%	-28.6%	-22.2%	-30.9%	-22.7%	-76.5%	-41.6%
Free cash flow yield	-10.7%	-4.8%	-6.0%	-5.7%	-10.4%	-6.1%	-48.7%	-34.0%
Earnings yield	-12.2%	-4.6%	-6.6%	-7.2%	-8.1%	-11.4%	-50.7%	-31.1%
Enterprise value	$6.3B	$9.7B	$5.7B	$2.3B	$1.2B	$398.8M	$40.4M	$29.3M
Net debt / EBITDA	-0.07×	0.71×	0.94×	3.82×	0.54×	4.4×	1.2×	2.31×
Cash conversion cycle (days)	0	0	0	0	0	-7,738	-1,000	-996