vs
Side-by-side financial comparison of AerSale Corp (ASLE) and NOVAVAX INC (NVAX). Click either name above to swap in a different company.
NOVAVAX INC is the larger business by last-quarter revenue ($147.3M vs $90.9M, roughly 1.6× AerSale Corp). NOVAVAX INC runs the higher net margin — 11.9% vs 5.9%, a 6.0% gap on every dollar of revenue. On growth, NOVAVAX INC posted the faster year-over-year revenue change (66.8% vs -4.0%). AerSale Corp produced more free cash flow last quarter ($9.8M vs $-41.6M). Over the past eight quarters, NOVAVAX INC's revenue compounded faster (25.3% CAGR vs 0.2%).
AerSale, Inc. is a Doral, Florida-based global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs. AerSale is a member of the Aircraft Fleet Recycling Association.
Novavax, Inc., based in Gaithersburg, Maryland, develops vaccines to counter infectious diseases. The company developed the Novavax COVID-19 vaccine, now commercialized by Sanofi. The company also develops vaccines for influenza, respiratory syncytial virus (RSV), avian flu, shingles, Clostridioides difficile, and malaria.
ASLE vs NVAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $90.9M | $147.3M |
| Net Profit | $5.4M | $17.5M |
| Gross Margin | 34.1% | 85.0% |
| Operating Margin | 7.8% | 9.7% |
| Net Margin | 5.9% | 11.9% |
| Revenue YoY | -4.0% | 66.8% |
| Net Profit YoY | 99.7% | 121.6% |
| EPS (diluted) | $0.10 | $0.28 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $90.9M | $147.3M | ||
| Q3 25 | $71.2M | $70.4M | ||
| Q2 25 | $107.4M | $239.2M | ||
| Q1 25 | $65.8M | $666.5M | ||
| Q4 24 | $94.7M | $88.3M | ||
| Q3 24 | $82.7M | $84.5M | ||
| Q2 24 | $77.1M | $415.5M | ||
| Q1 24 | $90.5M | $93.9M |
| Q4 25 | $5.4M | $17.5M | ||
| Q3 25 | $-120.0K | $-202.4M | ||
| Q2 25 | $8.6M | $106.5M | ||
| Q1 25 | $-5.3M | $518.6M | ||
| Q4 24 | $2.7M | — | ||
| Q3 24 | $509.0K | $-121.3M | ||
| Q2 24 | $-3.6M | $162.4M | ||
| Q1 24 | $6.3M | $-147.6M |
| Q4 25 | 34.1% | 85.0% | ||
| Q3 25 | 30.2% | 69.5% | ||
| Q2 25 | 32.9% | 93.6% | ||
| Q1 25 | 27.3% | 97.9% | ||
| Q4 24 | 31.4% | 58.5% | ||
| Q3 24 | 28.6% | 28.3% | ||
| Q2 24 | 28.2% | 88.9% | ||
| Q1 24 | 31.8% | 36.9% |
| Q4 25 | 7.8% | 9.7% | ||
| Q3 25 | 4.0% | -252.7% | ||
| Q2 25 | 11.7% | 42.2% | ||
| Q1 25 | -10.1% | 77.4% | ||
| Q4 24 | 5.2% | — | ||
| Q3 24 | 2.4% | -158.6% | ||
| Q2 24 | -2.4% | 38.7% | ||
| Q1 24 | 5.2% | -154.3% |
| Q4 25 | 5.9% | 11.9% | ||
| Q3 25 | -0.2% | -287.3% | ||
| Q2 25 | 8.0% | 44.5% | ||
| Q1 25 | -8.0% | 77.8% | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 0.6% | -143.5% | ||
| Q2 24 | -4.7% | 39.1% | ||
| Q1 24 | 6.9% | -157.2% |
| Q4 25 | $0.10 | $0.28 | ||
| Q3 25 | $0.00 | $-1.25 | ||
| Q2 25 | $0.18 | $0.62 | ||
| Q1 25 | $-0.10 | $2.93 | ||
| Q4 24 | $0.05 | — | ||
| Q3 24 | $0.01 | $-0.76 | ||
| Q2 24 | $-0.07 | $0.99 | ||
| Q1 24 | $0.12 | $-1.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.4M | $735.1M |
| Total DebtLower is stronger | $1.3M | — |
| Stockholders' EquityBook value | $424.4M | $-127.8M |
| Total Assets | $640.5M | $1.2B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.4M | $735.1M | ||
| Q3 25 | $5.3M | $762.9M | ||
| Q2 25 | $5.7M | $612.3M | ||
| Q1 25 | $4.7M | $731.5M | ||
| Q4 24 | $4.7M | $923.1M | ||
| Q3 24 | $9.8M | $909.5M | ||
| Q2 24 | $4.3M | $1.0B | ||
| Q1 24 | $2.6M | $480.6M |
| Q4 25 | $1.3M | — | ||
| Q3 25 | $1.5M | — | ||
| Q2 25 | $907.0K | — | ||
| Q1 25 | $1.1M | — | ||
| Q4 24 | $1.2M | — | ||
| Q3 24 | $376.0K | — | ||
| Q2 24 | $522.0K | — | ||
| Q1 24 | $3.5M | — |
| Q4 25 | $424.4M | $-127.8M | ||
| Q3 25 | $417.1M | $-156.7M | ||
| Q2 25 | $415.9M | $37.6M | ||
| Q1 25 | $406.5M | $-75.6M | ||
| Q4 24 | $455.6M | $-623.8M | ||
| Q3 24 | $451.5M | $-526.4M | ||
| Q2 24 | $449.8M | $-431.7M | ||
| Q1 24 | $452.0M | $-867.1M |
| Q4 25 | $640.5M | $1.2B | ||
| Q3 25 | $646.3M | $1.2B | ||
| Q2 25 | $646.7M | $1.3B | ||
| Q1 25 | $646.1M | $1.3B | ||
| Q4 24 | $604.7M | $1.6B | ||
| Q3 24 | $601.5M | $1.7B | ||
| Q2 24 | $598.7M | $1.8B | ||
| Q1 24 | $571.7M | $1.4B |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.01× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $11.4M | $-39.5M |
| Free Cash FlowOCF − Capex | $9.8M | $-41.6M |
| FCF MarginFCF / Revenue | 10.8% | -28.2% |
| Capex IntensityCapex / Revenue | 1.7% | 1.4% |
| Cash ConversionOCF / Net Profit | 2.11× | -2.25× |
| TTM Free Cash FlowTrailing 4 quarters | $-29.1M | $-250.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $-39.5M | ||
| Q3 25 | $-8.9M | $107.8M | ||
| Q2 25 | $19.8M | $-127.5M | ||
| Q1 25 | $-45.2M | $-185.5M | ||
| Q4 24 | $37.5M | $-87.3M | ||
| Q3 24 | $10.4M | $-144.8M | ||
| Q2 24 | $-15.3M | $314.3M | ||
| Q1 24 | $-21.5M | $-83.6M |
| Q4 25 | $9.8M | $-41.6M | ||
| Q3 25 | $-9.8M | $105.8M | ||
| Q2 25 | $18.6M | $-127.7M | ||
| Q1 25 | $-47.6M | $-186.7M | ||
| Q4 24 | $32.3M | $-100.3M | ||
| Q3 24 | $8.9M | $-146.2M | ||
| Q2 24 | $-18.9M | $311.4M | ||
| Q1 24 | $-25.0M | $-90.4M |
| Q4 25 | 10.8% | -28.2% | ||
| Q3 25 | -13.8% | 150.2% | ||
| Q2 25 | 17.3% | -53.4% | ||
| Q1 25 | -72.4% | -28.0% | ||
| Q4 24 | 34.0% | -113.6% | ||
| Q3 24 | 10.7% | -173.0% | ||
| Q2 24 | -24.6% | 74.9% | ||
| Q1 24 | -27.7% | -96.4% |
| Q4 25 | 1.7% | 1.4% | ||
| Q3 25 | 1.3% | 2.9% | ||
| Q2 25 | 1.1% | 0.1% | ||
| Q1 25 | 3.7% | 0.2% | ||
| Q4 24 | 5.6% | 14.8% | ||
| Q3 24 | 1.9% | 1.6% | ||
| Q2 24 | 4.7% | 0.7% | ||
| Q1 24 | 3.9% | 7.3% |
| Q4 25 | 2.11× | -2.25× | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.31× | -1.20× | ||
| Q1 25 | — | -0.36× | ||
| Q4 24 | 13.89× | — | ||
| Q3 24 | 20.52× | — | ||
| Q2 24 | — | 1.94× | ||
| Q1 24 | -3.42× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASLE
| Products | $57.8M | 64% |
| Maintenance | $23.2M | 26% |
| Leasing Arrangements | $9.9M | 11% |
NVAX
| Licensing Royalties And Other | $107.9M | 73% |
| Products | $39.2M | 27% |
