Valneva SE

VLA.PA

Biotechnology · Healthcare

Exchange

Euronext Paris

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Winston Score History

The full picture

Valneva is a French biotech company that makes vaccines to protect people from infectious diseases. Its main products include a travel vaccine for chikungunya virus and a vaccine for Lyme disease, which it is developing with Pfizer. The company sells to governments, travel health clinics, and healthcare providers, mostly in Europe and North America.

Valneva earns money by selling its approved vaccines and through partnership deals, including milestone payments and royalties from collaborators like Pfizer. It is a small company with a market cap around $500 million and operates primarily in Europe, with its main research and manufacturing sites in France, Austria, and Scotland. The company is currently spending more than it earns, reflected in its deeply negative operating margin, and its near-term financial health depends heavily on growing sales of its chikungunya vaccine and the eventual approval and commercial success of the Lyme disease vaccine.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-27.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-124.4% YoY

YoY Growth Rate

Earnings declining

Insider Activity

22.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~20 months

€122M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Revenue declining

Valneva SE's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

4.6%

Thin — 4.6% gross margin

Profit after running costs

Operating Margin

-77.8%

Losing money on operations — -77.8%

Return on the money invested

ROCE

-46.2%

Weak — -46.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-27.2%

Shrinking sales (-27.2% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-58.4%

Burning cash (-58.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

2.30

Heavy debt load (2.30)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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