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Stocks · Health care · Biological Products, (No Diagnostic Substances)

Valneva SE

VALN Clue Score21
France Fiscal year ends December CIK 0001836564
$5.93 +2.60% Close, 12 Oct 2026
Alert on the numbers Alert on insider trades
Price $5.93 −78.55% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 5 May 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue126.2Operating income−0.8Net income−0.8EPS, diluted−0.02Fiscal year 2020Revenue110.3 −12.6%Operating income−55.1Net income−55.1EPS, diluted−0.71Fiscal year 2021Revenue348.1 +215.5%Operating income−61.4Net income−61.4EPS, diluted−0.75Fiscal year 2022Revenue361.3 +3.8%Operating income−113.4Net income−143.3EPS, diluted−1.24Fiscal year 2023Revenue153.7 −57.5%Operating income−82.1Net income−101.4EPS, diluted−0.73Fiscal year 2024Revenue169.6 +10.3%Operating income13.3Net income−12.2EPS, diluted−0.08Fiscal year 2025Revenue174.7 +3.0%Operating income−82.1Net income−115.2EPS, diluted−0.68
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 126.2 110.3 348.1 361.3 153.7 169.6 174.7
Growth −12.6% +215.5% +3.8% −57.5% +10.3% +3.0%
Operating income −0.8 −55.1 −61.4 −113.4 −82.1 13.3 −82.1
Net income −0.8 −55.1 −61.4 −143.3 −101.4 −12.2 −115.2
Growth
EPS, diluted −0.02 −0.71 −0.75 −1.24 −0.73 −0.08 −0.68
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2019Operating margin−0.6%Net margin−0.6%Free cash flow margin−3.9%Fiscal year 2020Operating margin−50.0%Net margin−50.0%Free cash flow margin107.7%Fiscal year 2021Operating margin−17.6%Net margin−17.6%Free cash flow margin−4.4%Fiscal year 2022Operating margin−31.4%Net margin−39.7%Free cash flow margin−76.0%Fiscal year 2023Operating margin−53.4%Net margin−66.0%Free cash flow margin−141.2%Fiscal year 2024Operating margin7.9%Net margin−7.2%Free cash flow margin−47.8%Fiscal year 2025Operating margin−47.0%Net margin−66.0%Free cash flow margin−32.8%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −0.6% −50.0% −17.6% −31.4% −53.4% 7.9% −47.0%
Net margin −0.6% −50.0% −17.6% −39.7% −66.0% −7.2% −66.0%
Free cash flow margin −3.9% 107.7% −4.4% −76.0% −141.2% −47.8% −32.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow5.5Capital expenditure−10.5Free cash flow−5.0Fiscal year 2020Operating cash flow137.7Capital expenditure−18.9Free cash flow118.8Fiscal year 2021Operating cash flow76.9Capital expenditure−92.2Free cash flow−15.3 −112.9%Fiscal year 2022Operating cash flow−245.3Capital expenditure−29.2Free cash flow−274.6Fiscal year 2023Operating cash flow−202.7Capital expenditure−14.2Free cash flow−217.0Fiscal year 2024Operating cash flow−67.2Capital expenditure−13.9Free cash flow−81.1Fiscal year 2025Operating cash flow−52.9Capital expenditure−4.4Free cash flow−57.3
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 5.5 137.7 76.9 −245.3 −202.7 −67.2 −52.9
Capital expenditure −10.5 −18.9 −92.2 −29.2 −14.2 −13.9 −4.4
Free cash flow −5.0 118.8 −15.3 −274.6 −217.0 −81.1 −57.3
Growth −112.9%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash64.4Shareholders’ equity135.2Fiscal year 2020Cash204.4Total debt46.4Net cash (debt)158.1Shareholders’ equity77.4Debt to equity0.60Fiscal year 2021Cash346.7Total debt50.7Net cash (debt)296.0Shareholders’ equity170.6Debt to equity0.30Fiscal year 2022Cash286.5Total debt87.2Net cash (debt)199.3Shareholders’ equity219.8Debt to equity0.40Fiscal year 2023Cash126.1Total debt132.8Net cash (debt)−6.7Shareholders’ equity128.2Debt to equity1.04Fiscal year 2024Cash168.3Total debt166.5Net cash (debt)1.8Shareholders’ equity181.3Debt to equity0.92Fiscal year 2025Cash109.7Total debt161.3Net cash (debt)−51.6Shareholders’ equity106.2Debt to equity1.52
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 64.4 204.4 346.7 286.5 126.1 168.3 109.7
Total debt n/a 46.4 50.7 87.2 132.8 166.5 161.3
Net cash (debt) n/a 158.1 296.0 199.3 −6.7 1.8 −51.6
Shareholders’ equity 135.2 77.4 170.6 219.8 128.2 181.3 106.2
Debt to equity n/a 0.60 0.30 0.40 1.04 0.92 1.52

In millions of EUR, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of EUR, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
5.5 137.7 76.9 −245.3 −202.7 −67.2 −52.9
Growth +2,391.2% −44.2% −419.0%
Investment
−10.5 −18.9 −92.2 −29.2 −14.2 −13.9 −4.4
calc −5.0 118.8 −15.3 −274.6 −217.0 −81.1 −57.3
Growth −112.9%
calc n/a 1.31 −0.16 −2.38 −1.57 −0.56 −0.34
n/a −19.3 −93.1 −29.1 −20.6 76.9 −1.7
Financing
n/a 21.7 154.5 215.1 63.1 30.7 −0.6

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative. Shown in EUR as filed; the screener converts to dollars.