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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) 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 $75.1M, roughly 2.0× SAUL CENTERS, INC.). NOVAVAX INC runs the higher net margin — 11.9% vs 8.7%, a 3.2% gap on every dollar of revenue. On growth, NOVAVAX INC posted the faster year-over-year revenue change (66.8% vs 10.6%). Over the past eight quarters, NOVAVAX INC's revenue compounded faster (25.3% CAGR vs 6.2%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
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.
BFS vs NVAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $147.3M |
| Net Profit | $6.5M | $17.5M |
| Gross Margin | — | 85.0% |
| Operating Margin | 65.4% | 9.7% |
| Net Margin | 8.7% | 11.9% |
| Revenue YoY | 10.6% | 66.8% |
| Net Profit YoY | -19.6% | 121.6% |
| EPS (diluted) | $0.15 | $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 | $75.1M | $147.3M | ||
| Q3 25 | $72.0M | $70.4M | ||
| Q2 25 | $70.8M | $239.2M | ||
| Q1 25 | $71.9M | $666.5M | ||
| Q4 24 | $67.9M | $88.3M | ||
| Q3 24 | $67.3M | $84.5M | ||
| Q2 24 | $66.9M | $415.5M | ||
| Q1 24 | $66.7M | $93.9M |
| Q4 25 | $6.5M | $17.5M | ||
| Q3 25 | $10.5M | $-202.4M | ||
| Q2 25 | $10.7M | $106.5M | ||
| Q1 25 | $9.8M | $518.6M | ||
| Q4 24 | $8.1M | — | ||
| Q3 24 | $14.5M | $-121.3M | ||
| Q2 24 | $14.4M | $162.4M | ||
| Q1 24 | $13.6M | $-147.6M |
| Q4 25 | — | 85.0% | ||
| Q3 25 | — | 69.5% | ||
| Q2 25 | — | 93.6% | ||
| Q1 25 | — | 97.9% | ||
| Q4 24 | — | 58.5% | ||
| Q3 24 | 73.6% | 28.3% | ||
| Q2 24 | 74.2% | 88.9% | ||
| Q1 24 | 72.8% | 36.9% |
| Q4 25 | 65.4% | 9.7% | ||
| Q3 25 | 69.1% | -252.7% | ||
| Q2 25 | 68.7% | 42.2% | ||
| Q1 25 | 66.5% | 77.4% | ||
| Q4 24 | 82.9% | — | ||
| Q3 24 | 72.8% | -158.6% | ||
| Q2 24 | 75.0% | 38.7% | ||
| Q1 24 | 72.4% | -154.3% |
| Q4 25 | 8.7% | 11.9% | ||
| Q3 25 | 14.6% | -287.3% | ||
| Q2 25 | 15.1% | 44.5% | ||
| Q1 25 | 13.6% | 77.8% | ||
| Q4 24 | 11.9% | — | ||
| Q3 24 | 21.5% | -143.5% | ||
| Q2 24 | 21.6% | 39.1% | ||
| Q1 24 | 20.4% | -157.2% |
| Q4 25 | $0.15 | $0.28 | ||
| Q3 25 | $0.32 | $-1.25 | ||
| Q2 25 | $0.33 | $0.62 | ||
| Q1 25 | $0.29 | $2.93 | ||
| Q4 24 | $0.22 | — | ||
| Q3 24 | $0.48 | $-0.76 | ||
| Q2 24 | $0.48 | $0.99 | ||
| Q1 24 | $0.45 | $-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 | $8.7M | $735.1M |
| Total DebtLower is stronger | $468.4M | — |
| Stockholders' EquityBook value | $307.8M | $-127.8M |
| Total Assets | $2.2B | $1.2B |
| Debt / EquityLower = less leverage | 1.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $735.1M | ||
| Q3 25 | $11.8M | $762.9M | ||
| Q2 25 | $5.3M | $612.3M | ||
| Q1 25 | $6.5M | $731.5M | ||
| Q4 24 | $10.3M | $923.1M | ||
| Q3 24 | $7.2M | $909.5M | ||
| Q2 24 | $6.9M | $1.0B | ||
| Q1 24 | $7.1M | $480.6M |
| Q4 25 | $468.4M | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $455.8M | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $307.8M | $-127.8M | ||
| Q3 25 | $316.6M | $-156.7M | ||
| Q2 25 | $322.4M | $37.6M | ||
| Q1 25 | $328.4M | $-75.6M | ||
| Q4 24 | $335.8M | $-623.8M | ||
| Q3 24 | $341.8M | $-526.4M | ||
| Q2 24 | $345.7M | $-431.7M | ||
| Q1 24 | $347.1M | $-867.1M |
| Q4 25 | $2.2B | $1.2B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.1B | $1.6B | ||
| Q3 24 | $2.1B | $1.7B | ||
| Q2 24 | $2.1B | $1.8B | ||
| Q1 24 | $2.0B | $1.4B |
| Q4 25 | 1.52× | — | ||
| Q3 25 | 5.02× | — | ||
| Q2 25 | 4.85× | — | ||
| Q1 25 | 4.70× | — | ||
| Q4 24 | 1.36× | — | ||
| Q3 24 | 4.37× | — | ||
| Q2 24 | 4.17× | — | ||
| Q1 24 | 4.06× | — |
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 | $99.8M | $-39.5M |
| Free Cash FlowOCF − Capex | — | $-41.6M |
| FCF MarginFCF / Revenue | — | -28.2% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 15.35× | -2.25× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-250.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $-39.5M | ||
| Q3 25 | $20.6M | $107.8M | ||
| Q2 25 | $26.6M | $-127.5M | ||
| Q1 25 | $30.4M | $-185.5M | ||
| Q4 24 | $121.2M | $-87.3M | ||
| Q3 24 | $26.5M | $-144.8M | ||
| Q2 24 | $32.1M | $314.3M | ||
| Q1 24 | $33.8M | $-83.6M |
| Q4 25 | — | $-41.6M | ||
| Q3 25 | — | $105.8M | ||
| Q2 25 | — | $-127.7M | ||
| Q1 25 | — | $-186.7M | ||
| Q4 24 | — | $-100.3M | ||
| Q3 24 | $-28.3M | $-146.2M | ||
| Q2 24 | $-12.5M | $311.4M | ||
| Q1 24 | $-11.7M | $-90.4M |
| Q4 25 | — | -28.2% | ||
| Q3 25 | — | 150.2% | ||
| Q2 25 | — | -53.4% | ||
| Q1 25 | — | -28.0% | ||
| Q4 24 | — | -113.6% | ||
| Q3 24 | -42.1% | -173.0% | ||
| Q2 24 | -18.7% | 74.9% | ||
| Q1 24 | -17.6% | -96.4% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | 81.5% | 1.6% | ||
| Q2 24 | 66.7% | 0.7% | ||
| Q1 24 | 68.3% | 7.3% |
| Q4 25 | 15.35× | -2.25× | ||
| Q3 25 | 1.97× | — | ||
| Q2 25 | 2.48× | -1.20× | ||
| Q1 25 | 3.10× | -0.36× | ||
| Q4 24 | 14.98× | — | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | 1.94× | ||
| Q1 24 | 2.48× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
NVAX
| Licensing Royalties And Other | $107.9M | 73% |
| Products | $39.2M | 27% |
