vs
Side-by-side financial comparison of DYNAVAX TECHNOLOGIES CORP (DVAX) and HORIZON BANCORP INC (HBNC). Click either name above to swap in a different company.
DYNAVAX TECHNOLOGIES CORP is the larger business by last-quarter revenue ($94.9M vs $63.5M, roughly 1.5× HORIZON BANCORP INC). HORIZON BANCORP INC runs the higher net margin — 42.4% vs 28.4%, a 14.0% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs 17.7%). HORIZON BANCORP INC produced more free cash flow last quarter ($74.3M vs $32.6M). Over the past eight quarters, DYNAVAX TECHNOLOGIES CORP's revenue compounded faster (30.6% CAGR vs 9.2%).
Dynavax Technologies Corp is a commercial-stage biopharmaceutical company specializing in the research, development, and production of innovative vaccines and immunotherapies for infectious diseases. Its lead approved product is Heplisav-B, an adult hepatitis B vaccine, with core markets in North America and Europe, alongside a pipeline of candidates addressing unmet public health needs.
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
DVAX vs HBNC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $94.9M | $63.5M |
| Net Profit | $26.9M | $26.9M |
| Gross Margin | — | — |
| Operating Margin | 22.4% | 51.5% |
| Net Margin | 28.4% | 42.4% |
| Revenue YoY | 17.7% | 19.5% |
| Net Profit YoY | 53.0% | 347.4% |
| EPS (diluted) | $0.21 | $0.44 |
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 | — | $63.5M | ||
| Q3 25 | $94.9M | $58.4M | ||
| Q2 25 | $95.4M | $66.3M | ||
| Q1 25 | $68.2M | $68.8M | ||
| Q4 24 | $72.0M | $53.1M | ||
| Q3 24 | $80.6M | $58.4M | ||
| Q2 24 | $73.8M | $55.8M | ||
| Q1 24 | $50.8M | $53.2M |
| Q4 25 | — | $26.9M | ||
| Q3 25 | $26.9M | $-222.0M | ||
| Q2 25 | $18.7M | $20.6M | ||
| Q1 25 | $-96.1M | $23.9M | ||
| Q4 24 | $7.0M | $-10.9M | ||
| Q3 24 | $17.6M | $18.2M | ||
| Q2 24 | $11.4M | $14.1M | ||
| Q1 24 | $-8.7M | $14.0M |
| Q4 25 | — | 51.5% | ||
| Q3 25 | 22.4% | -490.4% | ||
| Q2 25 | 15.1% | 36.8% | ||
| Q1 25 | -34.7% | 40.8% | ||
| Q4 24 | -2.3% | -41.3% | ||
| Q3 24 | 12.5% | 31.0% | ||
| Q2 24 | 7.0% | 28.5% | ||
| Q1 24 | -35.0% | 28.8% |
| Q4 25 | — | 42.4% | ||
| Q3 25 | 28.4% | -380.2% | ||
| Q2 25 | 19.6% | 31.1% | ||
| Q1 25 | -141.0% | 34.8% | ||
| Q4 24 | 9.8% | -20.5% | ||
| Q3 24 | 21.8% | 31.1% | ||
| Q2 24 | 15.4% | 25.4% | ||
| Q1 24 | -17.2% | 26.3% |
| Q4 25 | — | $0.44 | ||
| Q3 25 | $0.21 | $-4.69 | ||
| Q2 25 | $0.14 | $0.47 | ||
| Q1 25 | $-0.77 | $0.54 | ||
| Q4 24 | $0.07 | $-0.25 | ||
| Q3 24 | $0.12 | $0.41 | ||
| Q2 24 | $0.08 | $0.32 | ||
| Q1 24 | $-0.07 | $0.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $160.2M | $139.5M |
| Total DebtLower is stronger | — | $248.6M |
| Stockholders' EquityBook value | $534.1M | $688.3M |
| Total Assets | $946.5M | $6.4B |
| Debt / EquityLower = less leverage | — | 0.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $139.5M | ||
| Q3 25 | $160.2M | $458.3M | ||
| Q2 25 | $99.1M | $137.9M | ||
| Q1 25 | $51.7M | $169.7M | ||
| Q4 24 | $95.9M | $293.4M | ||
| Q3 24 | $119.3M | $234.8M | ||
| Q2 24 | $112.5M | $146.1M | ||
| Q1 24 | $132.0M | — |
| Q4 25 | — | $248.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $688.3M | ||
| Q3 25 | $534.1M | $660.8M | ||
| Q2 25 | $494.2M | $790.9M | ||
| Q1 25 | $530.9M | $776.1M | ||
| Q4 24 | $596.8M | $763.6M | ||
| Q3 24 | $681.4M | $754.8M | ||
| Q2 24 | $642.8M | $726.7M | ||
| Q1 24 | $618.5M | $721.3M |
| Q4 25 | — | $6.4B | ||
| Q3 25 | $946.5M | $6.7B | ||
| Q2 25 | $918.4M | $7.7B | ||
| Q1 25 | $945.9M | $7.6B | ||
| Q4 24 | $986.3M | $7.8B | ||
| Q3 24 | $1.1B | $7.9B | ||
| Q2 24 | $1.0B | $7.9B | ||
| Q1 24 | $986.6M | $7.9B |
| Q4 25 | — | 0.36× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $33.8M | $79.2M |
| Free Cash FlowOCF − Capex | $32.6M | $74.3M |
| FCF MarginFCF / Revenue | 34.4% | 117.0% |
| Capex IntensityCapex / Revenue | 1.3% | 7.8% |
| Cash ConversionOCF / Net Profit | 1.26× | 2.94× |
| TTM Free Cash FlowTrailing 4 quarters | $80.5M | $115.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $79.2M | ||
| Q3 25 | $33.8M | $10.9M | ||
| Q2 25 | $23.4M | $19.5M | ||
| Q1 25 | $-19.6M | $15.2M | ||
| Q4 24 | $53.0M | $6.4M | ||
| Q3 24 | $19.5M | $32.3M | ||
| Q2 24 | $10.7M | $15.9M | ||
| Q1 24 | $-16.7M | $6.5M |
| Q4 25 | — | $74.3M | ||
| Q3 25 | $32.6M | $9.4M | ||
| Q2 25 | $22.0M | $18.1M | ||
| Q1 25 | $-23.6M | $14.1M | ||
| Q4 24 | $49.5M | $1.3M | ||
| Q3 24 | $18.1M | $31.0M | ||
| Q2 24 | $9.9M | $15.1M | ||
| Q1 24 | $-17.4M | $5.4M |
| Q4 25 | — | 117.0% | ||
| Q3 25 | 34.4% | 16.1% | ||
| Q2 25 | 23.0% | 27.3% | ||
| Q1 25 | -34.6% | 20.5% | ||
| Q4 24 | 68.8% | 2.4% | ||
| Q3 24 | 22.5% | 53.1% | ||
| Q2 24 | 13.5% | 27.1% | ||
| Q1 24 | -34.3% | 10.1% |
| Q4 25 | — | 7.8% | ||
| Q3 25 | 1.3% | 2.6% | ||
| Q2 25 | 1.5% | 2.1% | ||
| Q1 25 | 5.8% | 1.6% | ||
| Q4 24 | 4.8% | 9.6% | ||
| Q3 24 | 1.7% | 2.2% | ||
| Q2 24 | 1.1% | 1.5% | ||
| Q1 24 | 1.5% | 2.2% |
| Q4 25 | — | 2.94× | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 1.25× | 0.94× | ||
| Q1 25 | — | 0.64× | ||
| Q4 24 | 7.52× | — | ||
| Q3 24 | 1.11× | 1.78× | ||
| Q2 24 | 0.94× | 1.13× | ||
| Q1 24 | — | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DVAX
| HEPLISAVB | $90.0M | 95% |
| US Department Of Defense | $4.7M | 5% |
HBNC
Segment breakdown not available.
