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Bavarian Nordic A/S
OTC:BVNRY

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Bavarian Nordic A/S
OTC:BVNRY
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Price: 10.02 USD -0.1% Market Closed
Market Cap: $2.3B

EV/EBIT

6.6
Current
28%
Cheaper
vs 3-y average of 9.1

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
6.6
=
Enterprise Value
$12.2B
/
EBIT
kr1.8B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
6.6
=
Enterprise Value
$12.2B
/
EBIT
kr1.8B

Valuation Scenarios

Bavarian Nordic A/S is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (9.1), the stock would be worth $13.86 (38% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-23%
Maximum Upside
+107%
Average Upside
31%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 6.6 $10.02
0%
3-Year Average 9.1 $13.86
+38%
5-Year Average 6.6 $9.99
0%
Industry Average 5.1 $7.76
-23%
Country Average 13.6 $20.72
+107%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
$12.2B
/
Jan 2026
kr1.8B
=
6.6
Current
$12.2B
/
Dec 2026
kr801.8m
=
15.2
Forward
$12.2B
/
Dec 2027
kr853.5m
=
14.3
Forward
$12.2B
/
Dec 2028
kr1.1B
=
10.9
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
DK
Bavarian Nordic A/S
OTC:BVNRY
15.1B USD 6.6 10.9
FR
Pharnext SCA
OTC:PNEXF
6T USD -192 227.3 -160 127.7
US
Abbvie Inc
NYSE:ABBV
354.5B USD 19.6 84.7
US
Amgen Inc
NASDAQ:AMGN
186.5B USD 14 24.2
US
Gilead Sciences Inc
NASDAQ:GILD
164.9B USD 15 19.4
US
Epizyme Inc
F:EPE
94.1B EUR -565.5 -533.6
US
Vertex Pharmaceuticals Inc
NASDAQ:VRTX
111.2B USD 22 28.1
US
Regeneron Pharmaceuticals Inc
NASDAQ:REGN
78.9B USD 14.8 17.5
NL
argenx SE
XBRU:ARGX
42B EUR 41.9 38
AU
CSL Ltd
ASX:CSL
62.3B AUD 13.1 30.7
US
Seagen Inc
F:SGT
39.3B EUR -60.1 -61.8
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
DK
B
Bavarian Nordic A/S
OTC:BVNRY
Average EV/EBIT: 18.4
6.6
-15%
N/A
FR
Pharnext SCA
OTC:PNEXF
Negative Multiple: -192 227.3 N/A N/A
US
Abbvie Inc
NYSE:ABBV
19.6
23%
0.9
US
Amgen Inc
NASDAQ:AMGN
14
3%
4.7
US
Gilead Sciences Inc
NASDAQ:GILD
15
13%
1.2
US
E
Epizyme Inc
F:EPE
Negative Multiple: -565.5 N/A N/A
US
Vertex Pharmaceuticals Inc
NASDAQ:VRTX
22
17%
1.3
US
Regeneron Pharmaceuticals Inc
NASDAQ:REGN
14.8
23%
0.6
NL
argenx SE
XBRU:ARGX
41.9
51%
0.8
AU
CSL Ltd
ASX:CSL
13.1
10%
1.3
US
S
Seagen Inc
F:SGT
Negative Multiple: -60.1 N/A N/A
P/E Multiple
Earnings Growth PEG
DK
B
Bavarian Nordic A/S
OTC:BVNRY
Average P/E: 31.7
10.9
-13%
N/A
FR
Pharnext SCA
OTC:PNEXF
Negative Multiple: -160 127.7 N/A N/A
US
Abbvie Inc
NYSE:ABBV
84.7
97%
0.9
US
Amgen Inc
NASDAQ:AMGN
24.2
20%
1.2
US
Gilead Sciences Inc
NASDAQ:GILD
19.4
16%
1.2
US
E
Epizyme Inc
F:EPE
Negative Multiple: -533.6 N/A N/A
US
Vertex Pharmaceuticals Inc
NASDAQ:VRTX
28.1
19%
1.5
US
Regeneron Pharmaceuticals Inc
NASDAQ:REGN
17.5
14%
1.3
NL
argenx SE
XBRU:ARGX
38
30%
1.3
AU
CSL Ltd
ASX:CSL
30.7
9%
3.4
US
S
Seagen Inc
F:SGT
Negative Multiple: -61.8 N/A N/A

Market Distribution

Lower than 96% of companies in Denmark
Percentile
4rd
Based on 367 companies
4rd percentile
1
Low
0.8 — 6.6
Typical Range
6.6 — 19.5
High
19.5 —
Distribution Statistics
Denmark
Min 0.8
30th Percentile 6.6
Median 13.6
70th Percentile 19.5
Max 473.6

Bavarian Nordic A/S
Glance View

Bavarian Nordic A/S, established in 1994, is a Danish biotechnology powerhouse distinguishing itself in the development and production of vaccines for infectious diseases and immunotherapies for cancer. The company's journey from a promising start-up to a respected player in the global biotech landscape has been driven by its commitment to innovation and strategic partnerships. Its core operations revolve around a sophisticated platform technology capable of developing vaccines quickly and efficiently. This cutting-edge technology enables Bavarian Nordic to address urgent public health needs, such as growing threats from infectious diseases like smallpox, monkeypox, and Ebola. The company's facility in Kvistgaard is crucial to its operations, allowing it to seamlessly transition from research and development to large-scale production, ensuring a quick response to global health challenges. Revenue generation for Bavarian Nordic is predominantly through contracts and collaborations with governments, health organizations, and pharmaceutical companies. Over the years, the company has secured significant agreements, such as those with the U.S. government for the supply of its smallpox and monkeypox vaccines. These contracts provide a steady income stream, allowing the company to reinvest in its R&D efforts and expand its vaccine pipeline. Moreover, Bavarian Nordic’s strategic acquisitions, like their purchase of Rabipur/RabAvert and Encepur from GlaxoSmithKline, have expanded their portfolio and market presence, providing additional revenue channels. This approach not only sustains the company's growth but also aligns with its long-term vision of addressing unmet medical needs worldwide. By continually leveraging its proprietary technology and expanding its network of strategic collaborations, Bavarian Nordic is well-positioned to advance its mission in the global healthcare arena.

BVNRY Intrinsic Value
7.59 USD
Overvaluation 24%
Intrinsic Value
Price $10.02
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