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Side-by-side financial comparison of NOVAVAX INC (NVAX) and ROGERS CORP (ROG). Click either name above to swap in a different company.
ROGERS CORP is the larger business by last-quarter revenue ($200.5M vs $147.3M, roughly 1.4× NOVAVAX INC). NOVAVAX INC runs the higher net margin — 11.9% vs 2.2%, a 9.7% gap on every dollar of revenue. On growth, NOVAVAX INC posted the faster year-over-year revenue change (66.8% vs 5.2%). ROGERS CORP produced more free cash flow last quarter ($1.1M vs $-41.6M). Over the past eight quarters, NOVAVAX INC's revenue compounded faster (25.3% CAGR vs -3.3%).
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.
Rogers Corporation is a specialty engineered materials company headquartered in Chandler, Arizona.
NVAX vs ROG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $147.3M | $200.5M |
| Net Profit | $17.5M | $4.5M |
| Gross Margin | 85.0% | 32.2% |
| Operating Margin | 9.7% | — |
| Net Margin | 11.9% | 2.2% |
| Revenue YoY | 66.8% | 5.2% |
| Net Profit YoY | 121.6% | 421.4% |
| EPS (diluted) | $0.28 | $0.25 |
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.
| Q1 26 | — | $200.5M | ||
| Q4 25 | $147.3M | $201.5M | ||
| Q3 25 | $70.4M | $216.0M | ||
| Q2 25 | $239.2M | $202.8M | ||
| Q1 25 | $666.5M | $190.5M | ||
| Q4 24 | $88.3M | $192.2M | ||
| Q3 24 | $84.5M | $210.3M | ||
| Q2 24 | $415.5M | $214.2M |
| Q1 26 | — | $4.5M | ||
| Q4 25 | $17.5M | $4.6M | ||
| Q3 25 | $-202.4M | $8.6M | ||
| Q2 25 | $106.5M | $-73.6M | ||
| Q1 25 | $518.6M | $-1.4M | ||
| Q4 24 | — | $-500.0K | ||
| Q3 24 | $-121.3M | $10.7M | ||
| Q2 24 | $162.4M | $8.1M |
| Q1 26 | — | 32.2% | ||
| Q4 25 | 85.0% | 31.5% | ||
| Q3 25 | 69.5% | 33.5% | ||
| Q2 25 | 93.6% | 31.6% | ||
| Q1 25 | 97.9% | 29.9% | ||
| Q4 24 | 58.5% | 32.1% | ||
| Q3 24 | 28.3% | 35.2% | ||
| Q2 24 | 88.9% | 34.1% |
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | 3.5% | ||
| Q3 25 | -252.7% | 7.3% | ||
| Q2 25 | 42.2% | -33.3% | ||
| Q1 25 | 77.4% | -0.2% | ||
| Q4 24 | — | -6.6% | ||
| Q3 24 | -158.6% | 6.9% | ||
| Q2 24 | 38.7% | 5.3% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 11.9% | 2.3% | ||
| Q3 25 | -287.3% | 4.0% | ||
| Q2 25 | 44.5% | -36.3% | ||
| Q1 25 | 77.8% | -0.7% | ||
| Q4 24 | — | -0.3% | ||
| Q3 24 | -143.5% | 5.1% | ||
| Q2 24 | 39.1% | 3.8% |
| Q1 26 | — | $0.25 | ||
| Q4 25 | $0.28 | $0.20 | ||
| Q3 25 | $-1.25 | $0.48 | ||
| Q2 25 | $0.62 | $-4.00 | ||
| Q1 25 | $2.93 | $-0.08 | ||
| Q4 24 | — | $-0.04 | ||
| Q3 24 | $-0.76 | $0.58 | ||
| Q2 24 | $0.99 | $0.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $735.1M | $195.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-127.8M | $1.2B |
| Total Assets | $1.2B | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $195.8M | ||
| Q4 25 | $735.1M | $197.0M | ||
| Q3 25 | $762.9M | $167.8M | ||
| Q2 25 | $612.3M | $157.2M | ||
| Q1 25 | $731.5M | $175.6M | ||
| Q4 24 | $923.1M | $159.8M | ||
| Q3 24 | $909.5M | $146.4M | ||
| Q2 24 | $1.0B | $119.9M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $-127.8M | $1.2B | ||
| Q3 25 | $-156.7M | $1.2B | ||
| Q2 25 | $37.6M | $1.2B | ||
| Q1 25 | $-75.6M | $1.3B | ||
| Q4 24 | $-623.8M | $1.3B | ||
| Q3 24 | $-526.4M | $1.3B | ||
| Q2 24 | $-431.7M | $1.3B |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.6B | $1.5B | ||
| Q3 24 | $1.7B | $1.5B | ||
| Q2 24 | $1.8B | $1.5B |
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 | $-39.5M | $5.8M |
| Free Cash FlowOCF − Capex | $-41.6M | $1.1M |
| FCF MarginFCF / Revenue | -28.2% | 0.5% |
| Capex IntensityCapex / Revenue | 1.4% | 2.3% |
| Cash ConversionOCF / Net Profit | -2.25× | 1.29× |
| TTM Free Cash FlowTrailing 4 quarters | $-250.2M | $70.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $5.8M | ||
| Q4 25 | $-39.5M | $46.9M | ||
| Q3 25 | $107.8M | $28.9M | ||
| Q2 25 | $-127.5M | $13.7M | ||
| Q1 25 | $-185.5M | $11.7M | ||
| Q4 24 | $-87.3M | $33.7M | ||
| Q3 24 | $-144.8M | $42.4M | ||
| Q2 24 | $314.3M | $22.9M |
| Q1 26 | — | $1.1M | ||
| Q4 25 | $-41.6M | $42.2M | ||
| Q3 25 | $105.8M | $21.2M | ||
| Q2 25 | $-127.7M | $5.6M | ||
| Q1 25 | $-186.7M | $2.1M | ||
| Q4 24 | $-100.3M | $18.3M | ||
| Q3 24 | $-146.2M | $25.2M | ||
| Q2 24 | $311.4M | $8.8M |
| Q1 26 | — | 0.5% | ||
| Q4 25 | -28.2% | 20.9% | ||
| Q3 25 | 150.2% | 9.8% | ||
| Q2 25 | -53.4% | 2.8% | ||
| Q1 25 | -28.0% | 1.1% | ||
| Q4 24 | -113.6% | 9.5% | ||
| Q3 24 | -173.0% | 12.0% | ||
| Q2 24 | 74.9% | 4.1% |
| Q1 26 | — | 2.3% | ||
| Q4 25 | 1.4% | 2.3% | ||
| Q3 25 | 2.9% | 3.6% | ||
| Q2 25 | 0.1% | 4.0% | ||
| Q1 25 | 0.2% | 5.0% | ||
| Q4 24 | 14.8% | 8.0% | ||
| Q3 24 | 1.6% | 8.2% | ||
| Q2 24 | 0.7% | 6.6% |
| Q1 26 | — | 1.29× | ||
| Q4 25 | -2.25× | 10.20× | ||
| Q3 25 | — | 3.36× | ||
| Q2 25 | -1.20× | — | ||
| Q1 25 | -0.36× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.96× | ||
| Q2 24 | 1.94× | 2.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NVAX
| Licensing Royalties And Other | $107.9M | 73% |
| Products | $39.2M | 27% |
ROG
Segment breakdown not available.
