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Side-by-side financial comparison of Valneva SE (VALN) and VIRCO MFG CORPORATION (VIRC). Click either name above to swap in a different company.

VIRCO MFG CORPORATION is the larger business by last-quarter revenue ($47.6M vs $36.2M, roughly 1.3× Valneva SE). VIRCO MFG CORPORATION runs the higher net margin — -2.8% vs -54.1%, a 51.3% gap on every dollar of revenue.

Valneva SE is a specialty vaccine company registered in Saint-Herblain, France, developing, producing and commercializing vaccines for infectious diseases. It has manufacturing sites in Livingston, Scotland; Solna, Sweden, and Vienna, Austria; with other offices in France, Canada and the United States.

The Virco Manufacturing Corporation, more commonly known as Virco, is an American furniture manufacturer based in Torrance, California which focuses on providing products for educational markets. The principal products of the company include student desks and activity tables, school and office seating, computer stations, lightweight folding tables, and upholstered chairs.

VALN vs VIRC — Head-to-Head

Bigger by revenue
VIRC
VIRC
1.3× larger
VIRC
$47.6M
$36.2M
VALN
Higher net margin
VIRC
VIRC
51.3% more per $
VIRC
-2.8%
-54.1%
VALN

Income Statement — Q1 FY2023 vs Q3 FY2026

Metric
VALN
VALN
VIRC
VIRC
Revenue
$36.2M
$47.6M
Net Profit
$-19.6M
$-1.3M
Gross Margin
38.9%
38.0%
Operating Margin
-49.5%
-3.6%
Net Margin
-54.1%
-2.8%
Revenue YoY
-42.3%
Net Profit YoY
-115.8%
EPS (diluted)
$-0.08

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.

Revenue
VALN
VALN
VIRC
VIRC
Q4 25
$47.6M
Q3 25
$92.1M
Q2 25
$33.8M
Q1 25
$28.5M
Q4 24
$82.6M
Q3 24
$108.4M
Q2 24
$46.7M
Q1 24
$42.6M
Net Profit
VALN
VALN
VIRC
VIRC
Q4 25
$-1.3M
Q3 25
$10.2M
Q2 25
$732.0K
Q1 25
$-5.7M
Q4 24
$8.4M
Q3 24
$16.8M
Q2 24
$2.1M
Q1 24
$-2.3M
Gross Margin
VALN
VALN
VIRC
VIRC
Q4 25
38.0%
Q3 25
44.4%
Q2 25
47.5%
Q1 25
26.2%
Q4 24
44.4%
Q3 24
46.3%
Q2 24
43.5%
Q1 24
37.7%
Operating Margin
VALN
VALN
VIRC
VIRC
Q4 25
-3.6%
Q3 25
16.7%
Q2 25
-0.3%
Q1 25
-28.5%
Q4 24
13.5%
Q3 24
20.2%
Q2 24
6.4%
Q1 24
-6.5%
Net Margin
VALN
VALN
VIRC
VIRC
Q4 25
-2.8%
Q3 25
11.1%
Q2 25
2.2%
Q1 25
-20.1%
Q4 24
10.2%
Q3 24
15.5%
Q2 24
4.6%
Q1 24
-5.5%
EPS (diluted)
VALN
VALN
VIRC
VIRC
Q4 25
$-0.08
Q3 25
$0.65
Q2 25
$0.05
Q1 25
$-0.37
Q4 24
$0.52
Q3 24
$1.04
Q2 24
$0.13
Q1 24
$-0.14

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
VALN
VALN
VIRC
VIRC
Cash + ST InvestmentsLiquidity on hand
$274.8M
Total DebtLower is stronger
$3.9M
Stockholders' EquityBook value
$221.2M
$113.6M
Total Assets
$637.2M
$181.5M
Debt / EquityLower = less leverage
0.03×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
VALN
VALN
VIRC
VIRC
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
$5.3M
Total Debt
VALN
VALN
VIRC
VIRC
Q4 25
$3.9M
Q3 25
$4.0M
Q2 25
$4.1M
Q1 25
$4.1M
Q4 24
$4.2M
Q3 24
$4.3M
Q2 24
$7.0M
Q1 24
$4.4M
Stockholders' Equity
VALN
VALN
VIRC
VIRC
Q4 25
$113.6M
Q3 25
$115.4M
Q2 25
$105.6M
Q1 25
$109.3M
Q4 24
$115.9M
Q3 24
$107.8M
Q2 24
$91.6M
Q1 24
$91.2M
Total Assets
VALN
VALN
VIRC
VIRC
Q4 25
$181.5M
Q3 25
$198.6M
Q2 25
$183.8M
Q1 25
$191.9M
Q4 24
$210.1M
Q3 24
$216.3M
Q2 24
$152.5M
Q1 24
$146.4M
Debt / Equity
VALN
VALN
VIRC
VIRC
Q4 25
0.03×
Q3 25
0.03×
Q2 25
0.04×
Q1 25
0.04×
Q4 24
0.04×
Q3 24
0.04×
Q2 24
0.08×
Q1 24
0.05×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
VALN
VALN
VIRC
VIRC
Operating Cash FlowLast quarter
$-26.3M
$25.8M
Free Cash FlowOCF − Capex
$24.5M
FCF MarginFCF / Revenue
51.5%
Capex IntensityCapex / Revenue
2.7%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-4.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
VALN
VALN
VIRC
VIRC
Q4 25
$25.8M
Q3 25
$3.2M
Q2 25
$-19.0M
Q1 25
$-8.3M
Q4 24
$33.5M
Q3 24
$12.5M
Q2 24
$-4.5M
Q1 24
$4.7M
Free Cash Flow
VALN
VALN
VIRC
VIRC
Q4 25
$24.5M
Q3 25
$1.8M
Q2 25
$-21.5M
Q1 25
$-9.2M
Q4 24
$31.0M
Q3 24
$10.7M
Q2 24
$-5.6M
Q1 24
$4.0M
FCF Margin
VALN
VALN
VIRC
VIRC
Q4 25
51.5%
Q3 25
2.0%
Q2 25
-63.6%
Q1 25
-32.4%
Q4 24
37.5%
Q3 24
9.8%
Q2 24
-12.0%
Q1 24
9.5%
Capex Intensity
VALN
VALN
VIRC
VIRC
Q4 25
2.7%
Q3 25
1.5%
Q2 25
7.2%
Q1 25
3.3%
Q4 24
3.0%
Q3 24
1.7%
Q2 24
2.3%
Q1 24
1.5%
Cash Conversion
VALN
VALN
VIRC
VIRC
Q4 25
Q3 25
0.31×
Q2 25
-26.00×
Q1 25
Q4 24
3.98×
Q3 24
0.74×
Q2 24
-2.11×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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