Loading…
Makes mRNA raw materials (CleanCap, nucleic acid production) and biologics safety testing products for drug developers.
Makes mRNA raw materials (CleanCap, nucleic acid production) and biologics safety testing products for drug developers.
Sells reagents and materials that vaccine and drug makers consume in production, so revenue follows their output. A surge of COVID vaccine-related orders in 2021 and 2022 faded afterwards, leaving it to rebuild around the wider mRNA pipeline. Cygnus's biologics safety tests are bought for each production batch.
Moat: narrow (IP / patents, installed base). CleanCap is a key patented reagent embedded in mRNA vaccine and therapeutic manufacturing processes.
Headquarters: San Diego, California, US · Founded: 2014 · Employees: 435
Size Maravai Lifesciences (MRVI) is a United States Health Care company (Biotechnology) with a market value of $1.95B, the 1807th largest of 3,117 United States companies the cockpit tracks. Shares closed at $7.52 on 6 Nov 2026.
Performance Over six months the shares gained 108.3%, against +17.1% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue fell 3.3% over the last twelve months (peer median +33.3%); the operating margin is -13.4% (peer median -35.5%).
Valuation It trades at 9.3× enterprise value to sales against a peer median of 14.2× (7th cheapest of 15).
Capital Return on invested capital runs 13.9 points below its cost of capital (7.7% WACC).
Short interest Short interest is 9.0% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $209M | $186M | $259M | $289M | $883M |
| Revenue growth | — | -28% | -10% | -67% | — |
| Gross profit | $71.6M | $31.5M | $106M | $138M | $711M |
| EBITDA | $28.6M | -$35.5M | -$6.21M | $44.6M | $624M |
| Net income | -$77.4M | -$131M | -$145M | -$119M | $220M |
| Free cash flow | -$35.1M | -$70.7M | -$23.4M | $60.7M | $519M |
| Capital expenditure | $9.85M | $13.1M | $31.2M | $65.6M | $17.1M |
| Total debt | $177M | $365M | $377M | $611M | $534M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Maravai Lifesciences MRVI | $1.95B | +108% | -3% | -13% | 9.3× | n/a |
| Thermo Fisher Scientific TMO | $257B | +50% | +8% | 19% | 6.2× | 20.9% |
| Danaher DHR | $162B | +35% | +6% | 21% | 7.2× | 20.5% |
| Sartorius SRT.DE | $20.0B | +34% | +4% | 18% | 6.2× | 24.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MRVI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.3% | +4.9% | 10th lowest of 20 |
| 6-month return | +108.3% | +17.1% | 3rd highest of 20 |
| Distance from 52-week high | -14.0% | -27.9% | 5th highest of 20 |
| Revenue growth (TTM) | -3.3% | +33.3% | 8th lowest of 17 |
| Operating margin | -13.4% | -35.5% | 8th highest of 17 |
| EV / Sales | 9.3× | 14.2× | 7th cheapest of 15 |
| ROIC minus cost of capital | -13.9 pp | -6.4 pp | 5th lowest of 11 |
| EV / EBITDA | 68.3× | n/a | — |
| Net debt / EBITDA | 3.7× | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Maravai Lifesciences MRVI | United States | $1.95B | +108% | -3% | -13% | 9.3× | n/a | n/a |
| Alamar Biosciences ALMR | United States | $1.95B | +17% | +195% | -42% | 23.6× | n/a | n/a |
| BioCryst Pharmaceuticals BCRX | United States | $1.97B | -11% | +60% | 42% | 2.5× | -10.6% | +117.9% |
| Alvotech ALVO | United States | $1.90B | +49% | -12% | 9% | 6.5× | n/a | n/a |
| GemPharmatech 688046.SS | China | $2.01B | +59% | +25% | 22% | 13.3× | 35.7% | +24.8% |
| First Tracks Biotherapeutics TRAX | United States | $2.01B | +145% | n/a | n/a | n/a | n/a | n/a |
| Trevi Therapeutics TRVI | United States | $2.04B | -1% | n/a | n/a | n/a | n/a | n/a |
| Replimune REPL | United States | $2.05B | +547% | n/a | n/a | n/a | n/a | n/a |
| Vir Biotechnology VIR | United States | $2.07B | +34% | +1,496% | -92% | 5.4× | n/a | n/a |
| Zenas BioPharma ZBIO | United States | $1.84B | +44% | -93% | -27,390% | 1,588.4× | n/a | n/a |
| Mesoblast MSB.AX | Australia | $1.83B | 0% | +556% | -43% | 15.2× | n/a | n/a |
| Shenzhen Kangtai Biological Products 300601.SZ | China | $2.11B | -9% | -9% | 6% | 5.6× | 25.3% | +3.4% |
| Hitgen 688222.SS | China | $2.12B | +23% | +42% | 27% | 19.1× | 38.7% | +16.8% |
| Novavax NVAX | United States | $1.78B | +7% | -62% | -29% | 3.3× | n/a | n/a |
| Vera Therapeutics VERA | United States | $2.15B | -18% | n/a | n/a | n/a | n/a | n/a |
| Zhejiang Hengtong 600226.SS | China | $1.76B | -23% | +71% | 0% | 4.5× | n/a | n/a |
| Lycia Therapeutics LYCA | United States | $1.76B | n/a | -55% | -593% | n/a | n/a | n/a |
| Absci ABSI | United States | $1.75B | +72% | -62% | -8,411% | 991.7× | n/a | n/a |
| Lakefront Biotherapeutics LKFT.AS | Netherlands | $2.19B | +25% | +259% | 60% | n/a | n/a | n/a |
| Recursion Pharmaceuticals RXRX | United States | $2.19B | +6% | +56% | -725% | 25.1× | n/a | n/a |
| Stoke Therapeutics STOK | United States | $1.74B | -19% | -86% | -913% | 50.3× | n/a | n/a |