BVNKF
Bavarian Nordic A/S
OTC Markets OTCPKUSDEQUITY
DELAYED
Buy
+36/100
Last price
33.66
■ 0.00 (0.00%)
MARKET · —
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1D
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Open
—
Prev close
33.66
Day high
27.56
Day low
27.56
Volume
3
Market cap
—
P/E (TTM)
—
52W range
27.56 – 37.22
Trailing performance
Returnvs SPY
1W
0.00%
-1.9%
1M
+3.35%
+2.2%
3M
+21.56%
+17.0%
6M
+7.57%
-10.6%
YTD
+14.10%
-0.1%
1Y
-7.27%
-23.7%
3Y
+55.98%
-26.3%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
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Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Fundamentals
Market cap—
Enterprise value—
Revenue (TTM)—
Gross profit—
EBITDA—
Net income—
EPS (TTM)—
Free cash flow—
Total cash—
Total debt—
Book value / share—
Shares outstanding—
Float—
Short % of float—
Dividend yield—
Beta (5Y)—
Valuation & profitability ratios
Trailing P/E—
Forward P/E—
PEG ratio—
Price / sales—
Price / book—
EV / revenue—
EV / EBITDA—
Gross margin—
Operating margin—
Profit margin—
Return on equity—
Return on assets—
Debt / equity—
Current ratio—
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $6.24B | $5.72B | $7.06B | $3.15B | +9.2% |
| Operating revenue | $6.24B | $5.72B | $7.06B | $3.15B | +9.2% |
| Cost of revenue | $3.20B | $2.90B | $2.46B | $1.45B | +10.3% |
| Gross profit | $3.05B | $2.82B | $4.60B | $1.70B | +8.2% |
| Research & development | $780.30M | $862.51M | $2.23B | $1.18B | -9.5% |
| Selling, general & admin | $671.21M | $456.35M | $872.43M | $588.96M | +47.1% |
| Total operating expense | $1.24B | $1.88B | $3.10B | $1.77B | -33.8% |
| Operating income | $1.80B | $939.77M | $1.50B | -$70.78M | +92.0% |
| Net interest income | $2.28M | -$45.27M | -$63.02M | -$65.27M | +105.0% |
| Pre-tax income | $1.80B | $971.36M | $1.48B | -$331.61M | +85.4% |
| Tax provision | $425.58M | -$16.62M | $7.75M | $15.77M | +2,660.6% |
| Net income | $1.38B | $987.98M | $1.48B | -$347.38M | +39.2% |
| Net income to common | $1.38B | $987.98M | $1.48B | -$347.38M | +39.2% |
| Basic EPS | 17.60 | 12.60 | 19.20 | -4.90 | +39.7% |
| Diluted EPS | 17.60 | 12.60 | 19.20 | -4.90 | +39.7% |
| EBIT | $1.81B | $1.05B | $1.59B | -$211.92M | +72.7% |
| EBITDA | $2.53B | $1.67B | $2.14B | $187.32M | +50.9% |
| Basic shares | 78.03M | 78.10M | 76.71M | 70.42M | -0.1% |
| Diluted shares | 78.03M | 78.10M | 76.71M | 70.42M | -0.1% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $1.71B | $1.62B | $1.48B | $575.41M | +5.6% |
| Cash & short-term investments | $3.33B | $2.18B | $1.87B | $2.85B | +53.3% |
| Accounts receivable | $780.30M | $1.18B | $1.78B | $523.14M | -33.6% |
| Inventory | $2.51B | $2.33B | $1.64B | $919.07M | +8.0% |
| Total current assets | $6.74B | $5.79B | $5.40B | $4.48B | +16.4% |
| Property, plant & equipment | $2.17B | $2.24B | $2.45B | $1.75B | -3.3% |
| Goodwill & intangibles | $5.96B | $6.33B | $6.48B | $5.94B | -5.9% |
| Total assets | $14.95B | $14.41B | $14.35B | $12.39B | +3.8% |
| Total current liabilities | $1.60B | $2.80B | $2.79B | $2.29B | -42.9% |
| Current debt | $2.15M | $2.07M | $1.91M | $1.11B | +3.5% |
| Long-term debt | $10.89M | $13.05M | $15.13M | $583.43M | -16.6% |
| Total debt | $130.87M | $128.25M | $145.30M | $1.76B | +2.0% |
| Total liabilities | $2.08B | $3.00B | $4.01B | $5.24B | -30.5% |
| Retained earnings | $11.82B | $10.43B | $9.33B | $6.30B | +13.3% |
| Shareholder equity | $12.87B | $11.41B | $10.34B | $7.15B | +12.8% |
| Working capital | $5.14B | $2.99B | $2.62B | $2.20B | +71.9% |
| Net tangible assets | $6.91B | $5.08B | $3.86B | $1.21B | +36.1% |
| Shares issued | 79.24M | 78.85M | 78.10M | 70.74M | +0.5% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $1.38B | $987.98M | $1.48B | -$347.38M | +39.2% |
| Depreciation & amortisation | $714.37M | $624.90M | $553.82M | $399.25M | +14.3% |
| Stock-based compensation | $84.49M | $78.67M | $55.48M | $49.28M | +7.4% |
| Change in working capital | $137.52M | $176.91M | -$1.55B | -$148.79M | -22.3% |
| Operating cash flow | $2.72B | $1.95B | $1.12B | $220.05M | +39.6% |
| Capital expenditure | -$1.36B | -$1.69B | -$977.40M | -$1.38B | +19.5% |
| Investing cash flow | -$2.48B | -$1.87B | -$945.56M | -$877.40M | -32.8% |
| Share buybacks | -$150.12M | -$27.46M | -$8.99M | -$9.33M | -446.7% |
| Financing cash flow | -$114.36M | $55.77M | $735.83M | $635.82M | -305.0% |
| Free cash flow | $1.36B | $262.19M | $141.80M | -$1.16B | +419.7% |
| End cash position | $1.71B | $1.62B | $1.48B | $575.41M | +5.6% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $2.03B | $1.06B | $1.45B | $1.79B | $1.65B | — | +92.3% |
| Operating revenue | $2.03B | $1.06B | $1.45B | $1.79B | $1.65B | — | +92.3% |
| Cost of revenue | $803.15M | $583.64M | $889.68M | $901.84M | $737.88M | — | +37.6% |
| Gross profit | $1.23B | $474.20M | $561.27M | $893.07M | $913.62M | — | +159.6% |
| Research & development | $163.43M | $175.14M | $181.74M | $133.20M | $293.26M | — | -6.7% |
| Selling, general & admin | $319.05M | $306.07M | -$243.25M | $415.41M | $249.40M | — | +4.2% |
| Total operating expense | $482.48M | $481.21M | $541.28M | -$261.48M | $542.66M | — | +0.3% |
| Operating income | $748.77M | -$7.01M | $20.00M | $1.15B | $370.96M | — | +10,784.5% |
| Net interest income | -$1.37M | $3.02M | $11.51M | $7.13M | -$5.29M | — | -145.2% |
| Pre-tax income | $759.63M | $23.32M | $28.19M | $1.17B | $373.35M | — | +3,157.7% |
| Tax provision | $27.99M | $6.37M | $326.99M | $77.02M | $10.78M | — | +339.7% |
| Net income | $731.64M | $16.95M | -$298.80M | $1.09B | $362.57M | — | +4,215.7% |
| Net income to common | $731.64M | $16.95M | -$298.80M | $1.09B | $362.57M | — | +4,215.7% |
| Basic EPS | 8.90 | 0.20 | — | 13.70 | 3.30 | 2.70 | +4,350.0% |
| Diluted EPS | 8.90 | 0.20 | — | 13.70 | 3.30 | 2.70 | +4,350.0% |
| EBIT | $763.19M | $24.73M | $30.37M | $1.17B | $374.92M | — | +2,986.2% |
| EBITDA | $938.97M | $197.19M | $242.32M | $1.34B | $545.73M | — | +376.2% |
| Basic shares | 82.21M | 84.77M | — | 79.77M | 77.86M | 81.02M | -3.0% |
| Diluted shares | 82.21M | 84.77M | — | 79.77M | 77.86M | 81.02M | -3.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $776.68M | $692.85M | $1.71B | $2.09B | $1.22B | +12.1% |
| Cash & short-term investments | $2.36B | $2.29B | $3.33B | $2.98B | $1.66B | +2.8% |
| Accounts receivable | $1.51B | $881.54M | $780.30M | $1.23B | $904.22M | +71.8% |
| Inventory | $2.68B | $2.66B | $2.51B | $2.52B | $2.65B | +0.7% |
| Total current assets | $6.69B | $5.97B | $6.74B | $6.89B | $5.52B | +12.1% |
| Property, plant & equipment | $2.14B | $2.17B | $2.17B | $2.19B | $2.20B | -1.1% |
| Goodwill & intangibles | $5.80B | $5.88B | $5.96B | $6.02B | $6.13B | -1.4% |
| Total assets | $14.72B | $14.10B | $14.95B | $15.16B | $13.91B | +4.4% |
| Total current liabilities | $1.02B | $922.37M | $1.60B | $1.80B | $1.65B | +11.0% |
| Current debt | $2.15M | $2.16M | $2.15M | $2.14M | $2.07M | -0.2% |
| Long-term debt | $9.81M | $10.34M | $10.89M | $11.42M | $12.02M | -5.1% |
| Total debt | $131.34M | $139.28M | $130.87M | $134.04M | $136.05M | -5.7% |
| Total liabilities | $1.51B | $1.41B | $2.08B | $2.00B | $1.86B | +6.5% |
| Retained earnings | $12.15B | $11.63B | $11.82B | $12.07B | $10.88B | +4.5% |
| Shareholder equity | $13.22B | $12.69B | $12.87B | $13.16B | $12.05B | +4.2% |
| Working capital | $5.67B | $5.04B | $5.14B | $5.09B | $3.87B | +12.3% |
| Net tangible assets | $7.42B | $6.81B | $6.91B | $7.14B | $5.92B | +9.0% |
| Shares issued | 79.24M | 79.24M | 79.24M | 79.24M | 78.85M | 0.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $731.64M | $16.95M | -$298.80M | $1.09B | $362.57M | +4,215.7% |
| Depreciation & amortisation | $175.78M | $172.46M | $211.95M | $170.95M | $170.81M | +1.9% |
| Stock-based compensation | $28.16M | $27.80M | $17.99M | $18.11M | $19.65M | +1.3% |
| Change in working capital | -$616.29M | -$960.97M | $355.68M | -$56.20M | $696.48M | +35.9% |
| Operating cash flow | $351.07M | -$751.79M | $545.05M | $1.29B | $1.27B | +146.7% |
| Capital expenditure | -$51.45M | -$58.47M | -$141.43M | -$47.16M | -$803.01M | +12.0% |
| Investing cash flow | -$34.44M | -$39.32M | -$913.11M | -$490.06M | -$708.52M | +12.4% |
| Share buybacks | -$223.35M | -$223.54M | $0 | $0 | $0 | +0.1% |
| Financing cash flow | -$232.90M | -$230.79M | -$10.32M | $68.78M | -$11.83M | -0.9% |
| Free cash flow | $299.62M | -$810.26M | $403.62M | $1.25B | $467.02M | +137.0% |
| End cash position | $776.68M | $692.85M | $1.71B | $2.09B | $1.22B | +12.1% |
Analyst targets & ownership
Mean target—
High target—
Low target—
Implied upside—
Analyst count—
Consensus—
Strong buy / Buy— / —
Hold—
Sell / Strong sell— / —
Held by insiders—
Held by institutions—
Institutions holding—
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
33.33
+0.98% from price
SMA 20
32.95
+2.15% from price
SMA 50
31.06
+8.36% from price
SMA 100
29.64
+13.55% from price
SMA 200
29.84
+12.81% from price
EMA 12
33.30
+1.08% from price
EMA 26
32.64
+3.12% from price
EMA 50
31.61
+6.50% from price
RSI (14)
99.6
Overbought
MACD (12,26,9)
0.66
Hist -0.03
ATR (14)
0.08
0.23% of price
Realised vol 30D
9.4%
Annualised
Bollinger upper
33.99
20, 2σ
Bollinger lower
31.91
20, 2σ
50 / 200 cross
Golden
31.06 vs 29.84
Trend bias
Above 200
+12.81%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
-0.35
Less volatile than market
Correlation to SPY
-0.14
Largely independent
Realised vol 30D
9.4%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-25.6%
Peak to trough
Max drawdown 5Y
-69.9%
Peak to trough
ATR 14
0.08
0.23% of price
Beta (reported)
—
5Y monthly, from filing
Headlines
Bavarian Nordic – Transactions in Connection with Share Buy-Back Program
GlobeNewswire · 3d ago
What Bavarian Nordic’s next CEO is up against
Pharma Voice · 10d ago
Bavarian Nordic – Transactions in Connection with Share Buy-Back Program
GlobeNewswire · 10d ago
Bavarian Nordic – Notification of Holding of Treasury Shares
GlobeNewswire · 16d ago
Bavarian Nordic – Transactions in Connection with Share Buy-Back Program
GlobeNewswire · 17d ago
Tarja Stenvall Appointed Chief Executive Officer of Bavarian Nordic
GlobeNewswire · 21d ago
Bavarian Nordic – Transactions in Connection with Share Buy-Back Program
GlobeNewswire · 24d ago
Bavarian Nordic – Transactions in Connection with Share Buy-Back Program
GlobeNewswire · 31d ago
PRIVATE STRATEGY · BY QUALIFICATION
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