Vaxart Inc (VXRT) - Net Assets
Based on the latest financial reports, Vaxart Inc (VXRT) has net assets worth $94.12 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($180.06 Million) and total liabilities ($85.94 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check VXRT goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $94.12 Million |
| % of Total Assets | 52.27% |
| Annual Growth Rate | 9.09% |
| 5-Year Change | -53.18% |
| 10-Year Change | 90.04% |
| Growth Volatility | 140.37 |
Vaxart Inc - Net Assets Trend (1985–2025)
This chart illustrates how Vaxart Inc's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of Vaxart Inc to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Vaxart Inc (1985–2025)
The table below shows the annual net assets of Vaxart Inc from 1985 to 2025. For live valuation and market cap data, see Vaxart Inc market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $87.80 Million | +49.00% |
| 2024-12-31 | $58.92 Million | +1.94% |
| 2023-12-31 | $57.80 Million | -47.73% |
| 2022-12-31 | $110.60 Million | -41.02% |
| 2021-12-31 | $187.53 Million | +51.97% |
| 2020-12-31 | $123.40 Million | +852.78% |
| 2019-12-31 | $12.95 Million | +15.25% |
| 2018-12-31 | $11.24 Million | -39.90% |
| 2017-12-31 | $18.70 Million | -59.52% |
| 2016-12-31 | $46.20 Million | -33.53% |
| 2015-12-31 | $69.50 Million | -20.02% |
| 2014-12-31 | $86.90 Million | +27.79% |
| 2013-12-31 | $68.00 Million | -0.29% |
| 2012-12-31 | $68.20 Million | +15.85% |
| 2011-12-31 | $58.87 Million | -2.81% |
| 2010-12-31 | $60.57 Million | -37.82% |
| 2009-12-31 | $97.41 Million | -19.75% |
| 2008-12-31 | $121.38 Million | -17.16% |
| 2007-12-31 | $146.53 Million | +31.55% |
| 2006-12-31 | $111.39 Million | -31.17% |
| 2005-12-31 | $161.83 Million | -43.08% |
| 2004-12-31 | $284.32 Million | -10.96% |
| 2003-12-31 | $319.32 Million | +68.92% |
| 2002-12-31 | $189.03 Million | +0.97% |
| 2001-12-31 | $187.21 Million | +141.89% |
| 2000-12-31 | $77.39 Million | +32.98% |
| 1999-12-31 | $58.20 Million | +7.38% |
| 1998-12-31 | $54.20 Million | -28.40% |
| 1997-12-31 | $75.70 Million | -12.08% |
| 1996-12-31 | $86.10 Million | +24.06% |
| 1995-12-31 | $69.40 Million | +33.98% |
| 1994-12-31 | $51.80 Million | +187.78% |
| 1993-12-31 | $18.00 Million | +29.50% |
| 1992-12-31 | $13.90 Million | -7.95% |
| 1991-12-31 | $15.10 Million | +24.79% |
| 1990-12-31 | $12.10 Million | +24.74% |
| 1989-12-31 | $9.70 Million | +16.87% |
| 1988-12-31 | $8.30 Million | +3.75% |
| 1987-12-31 | $8.00 Million | +31.15% |
| 1986-12-31 | $6.10 Million | +125.93% |
| 1985-12-31 | $2.70 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Vaxart Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 45359500000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $24.00K | 0.03% |
| Other Comprehensive Income | $-3.00K | 0.00% |
| Other Components | $547.97 Million | 624.13% |
| Total Equity | $87.80 Million | 100.00% |
Vaxart Inc Competitors by Market Cap
The table below lists competitors of Vaxart Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
RF Acquisition Corp III Ordinary Shares
NASDAQ:RFAM
|
$137.94 Million |
|
Digital Daesung Co. Ltd
KQ:068930
|
$137.98 Million |
|
Baozun Inc
NASDAQ:BZUN
|
$138.03 Million |
|
Tera Autotech
TWO:6234
|
$138.05 Million |
|
PRECIA SA EO -50
F:P1E0
|
$137.86 Million |
|
KJTS
KLSE:0293
|
$137.78 Million |
|
Azerion Group N.V.
AS:AZRN
|
$137.71 Million |
|
GAMSUNG Corporation Co. Ltd
KQ:036620
|
$137.70 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vaxart Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 58,925,000 to 87,798,000, a change of 28,873,000 (49.0%).
- Net income of 16,327,000 contributed positively to equity growth.
- New share issuances of 4,254,000 increased equity.
- Other comprehensive income decreased equity by 7,000.
- Other factors increased equity by 8,299,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $16.33 Million | +18.6% |
| Share Issuances | $4.25 Million | +4.85% |
| Other Comprehensive Income | $-7.00K | -0.01% |
| Other Changes | $8.30 Million | +9.45% |
| Total Change | $- | 49.00% |
Book Value vs Market Value Analysis
This analysis compares Vaxart Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.50x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.29x to 1.50x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $1.96 | $0.57 | x |
| 1986-12-31 | $3.02 | $0.57 | x |
| 1987-12-31 | $3.17 | $0.57 | x |
| 1988-12-31 | $3.77 | $0.57 | x |
| 1989-12-31 | $4.80 | $0.57 | x |
| 1990-12-31 | $5.08 | $0.57 | x |
| 1991-12-31 | $6.34 | $0.57 | x |
| 1992-12-31 | $6.12 | $0.57 | x |
| 1993-12-31 | $8.64 | $0.57 | x |
| 1994-12-31 | $19.44 | $0.57 | x |
| 1995-12-31 | $13.64 | $0.57 | x |
| 1996-12-31 | $15.81 | $0.57 | x |
| 1997-12-31 | $14.27 | $0.57 | x |
| 1998-12-31 | $10.25 | $0.57 | x |
| 1999-12-31 | $10.72 | $0.57 | x |
| 2000-12-31 | $13.54 | $0.57 | x |
| 2001-12-31 | $27.54 | $0.57 | x |
| 2002-12-31 | $31.50 | $0.57 | x |
| 2003-12-31 | $43.19 | $0.57 | x |
| 2004-12-31 | $32.01 | $0.57 | x |
| 2005-12-31 | $17.84 | $0.57 | x |
| 2006-12-31 | $12.06 | $0.57 | x |
| 2007-12-31 | $16.04 | $0.57 | x |
| 2008-12-31 | $15.45 | $0.57 | x |
| 2009-12-31 | $12.70 | $0.57 | x |
| 2010-12-31 | $9.00 | $0.57 | x |
| 2011-12-31 | $9.18 | $0.57 | x |
| 2012-12-31 | $26.59 | $0.57 | x |
| 2013-12-31 | $2.65 | $0.57 | x |
| 2014-12-31 | $3.05 | $0.57 | x |
| 2015-12-31 | $2.16 | $0.57 | x |
| 2016-12-31 | $1.32 | $0.57 | x |
| 2017-12-31 | $5.32 | $0.57 | x |
| 2018-12-31 | $0.18 | $0.57 | x |
| 2019-12-31 | $0.06 | $0.57 | x |
| 2020-12-31 | $0.25 | $0.57 | x |
| 2021-12-31 | $0.38 | $0.57 | x |
| 2022-12-31 | $0.23 | $0.57 | x |
| 2023-12-31 | $0.12 | $0.57 | x |
| 2024-12-31 | $0.12 | $0.57 | x |
| 2025-12-31 | $0.38 | $0.57 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vaxart Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 18.60%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.88%
- • Asset Turnover: 1.28x
- • Equity Multiplier: 2.12x
- Recent ROE (18.60%) is above the historical average (-22.38%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 37.04% | 2.92% | 3.42x | 3.70x | $730.00K |
| 1986 | 13.11% | 1.83% | 3.26x | 2.20x | $190.00K |
| 1987 | 6.25% | 1.16% | 3.17x | 1.70x | $-300.00K |
| 1988 | 2.41% | 0.42% | 2.26x | 2.52x | $-630.00K |
| 1989 | 8.25% | 1.35% | 2.43x | 2.52x | $-170.00K |
| 1990 | 18.18% | 3.02% | 3.07x | 1.96x | $990.00K |
| 1991 | 14.57% | 3.23% | 2.56x | 1.76x | $690.00K |
| 1992 | -4.32% | -0.73% | 1.73x | 3.42x | $-1.99 Million |
| 1993 | 19.44% | 3.44% | 1.92x | 2.94x | $1.70 Million |
| 1994 | 15.25% | 4.80% | 1.76x | 1.81x | $2.72 Million |
| 1995 | -25.36% | -8.71% | 1.46x | 1.99x | $-24.54 Million |
| 1996 | 15.45% | 5.54% | 1.19x | 2.35x | $4.69 Million |
| 1997 | -14.80% | -4.90% | 1.01x | 2.98x | $-18.77 Million |
| 1998 | -40.22% | -8.97% | 1.11x | 4.03x | $-27.22 Million |
| 1999 | 5.67% | 1.41% | 1.09x | 3.69x | $-2.52 Million |
| 2000 | 5.63% | 1.91% | 1.02x | 2.90x | $-3.38 Million |
| 2001 | 55.92% | 44.58% | 0.76x | 1.66x | $85.96 Million |
| 2002 | 1.09% | 1.05% | 0.84x | 1.23x | $-16.85 Million |
| 2003 | -2.14% | -3.87% | 0.46x | 1.21x | $-38.76 Million |
| 2004 | -17.72% | -35.44% | 0.39x | 1.29x | $-78.82 Million |
| 2005 | -79.37% | -118.87% | 0.33x | 2.04x | $-144.63 Million |
| 2006 | -52.70% | -65.32% | 0.34x | 2.39x | $-69.84 Million |
| 2007 | 32.12% | 0.00% | 0.00x | 1.63x | $32.42 Million |
| 2008 | -15.44% | 0.00% | 0.00x | 1.19x | $-30.88 Million |
| 2009 | -19.23% | -178.54% | 0.08x | 1.35x | $-28.47 Million |
| 2010 | 1.45% | 2.51% | 0.31x | 1.88x | $-5.18 Million |
| 2011 | -7.70% | -30.54% | 0.15x | 1.66x | $-10.42 Million |
| 2012 | -12.76% | -25.89% | 0.40x | 1.24x | $-15.52 Million |
| 2013 | -13.09% | -26.49% | 0.39x | 1.26x | $-15.70 Million |
| 2014 | -12.66% | -16.01% | 0.60x | 1.31x | $-19.69 Million |
| 2015 | -27.48% | -77.64% | 0.31x | 1.14x | $-26.05 Million |
| 2016 | -54.98% | -273.12% | 0.13x | 1.57x | $-30.02 Million |
| 2017 | -66.63% | -213.39% | 0.15x | 2.14x | $-14.33 Million |
| 2018 | -160.23% | -432.96% | 0.12x | 3.13x | $-19.13 Million |
| 2019 | -143.95% | -189.06% | 0.27x | 2.86x | $-19.94 Million |
| 2020 | -26.11% | -796.34% | 0.03x | 1.24x | $-44.56 Million |
| 2021 | -37.58% | -7900.22% | 0.00x | 1.18x | $-89.22 Million |
| 2022 | -97.43% | -100708.41% | 0.00x | 1.39x | $-118.82 Million |
| 2023 | -142.66% | -1117.56% | 0.08x | 1.59x | $-88.25 Million |
| 2024 | -113.62% | -233.27% | 0.17x | 2.82x | $-72.84 Million |
| 2025 | 18.60% | 6.88% | 1.28x | 2.12x | $7.55 Million |
Industry Comparison
This section compares Vaxart Inc's net assets metrics with peer companies in the Biotechnology industry.
Industry Context
- Industry: Biotechnology
- Average net assets among peers: $155,285,360
- Average return on equity (ROE) among peers: -101.11%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vaxart Inc (VXRT) | $94.12 Million | 37.04% | 0.91x | $137.92 Million |
| Aardvark Therapeutics, Inc. Common Stock (AARD) | $-34.80 Million | 0.00% | 0.00x | $83.17 Million |
| Abcellera Biologics Inc (ABCL) | $830.51 Million | 14.32% | 0.21x | $1.61 Billion |
| Abeona Therapeutics Inc (ABEO) | $-26.99 Million | 0.00% | 0.00x | $321.39 Million |
| Acumen Pharmaceuticals Inc (ABOS) | $266.97 Million | -19.62% | 0.16x | $155.29 Million |
| Abpro Holdings, Inc. (ABP) | $3.07 Million | -479.81% | 1.57x | $2.00 Million |
| Absci Corp (ABSI) | $179.13 Million | -57.56% | 0.19x | $1.01 Billion |
| Arbutus Biopharma Corp (ABUS) | $182.50 Million | -46.25% | 0.30x | $831.63 Million |
| ABVC Biopharma Inc (ABVC) | $4.59 Million | -357.76% | 1.38x | $35.10 Million |
| Abivax SA American Depositary Shares (ABVX) | $33.94 Million | -14.97% | 0.12x | $7.98 Billion |
| ACADIA Pharmaceuticals Inc (ACAD) | $113.93 Million | -49.49% | 0.18x | $3.66 Billion |
About Vaxart Inc
Vaxart, Inc., a clinical-stage biotechnology company, discovers and develops oral recombinant protein vaccines based on its vector-adjuvant-antigen standardized technology proprietary oral vaccine platform. The company's product pipeline includes norovirus vaccine, a bivalent oral tablet vaccine in Phase 2 clinical trial for the GI.1 and GII.4 norovirus strains; COVID-19 Vaccine, which is in Phas… Read more