Valneva SE (VALN)

Nasdaq: VALN · Biological Products, (No Diagnostic Substances) · Saint-Herblain, FR · filing with the SEC since 2021

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Grade4.6

◀ Past 6.2● Present 4.3▶ Future 3.4

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Valneva SE

Nine metrics read from its own filings, by tense

Headline grade

4.6/10

◀ Past6.230% of the headline

● Present4.340% of the headline

▶ Future3.430% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.2/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

8.0/10

Has it survived what it has been through?

No warning events in its filings since 2021.

weight 33% of this tense · 80th percentile among 159 sector filers · read for itself

From the record

Valneva SE's filings since 2021 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

4.8/10

What has it actually done, year after year?

+5.6% a year over 7 filed years; profitable in 0 of 7.

weight 45% of this tense · 48th percentile among 102 sector filers · read for its customers

From the record

Valneva SE's 7 filed years say what it did: revenue went from EUR 126 million in fiscal 2019 to EUR 175 million in fiscal 2025, up 5.6% a year; it rose in 4 of 6 years; the deepest fall was 57% from fiscal 2022 to fiscal 2023; net income was positive in 0 of 7 of those years (its annual reports).

What it rests on

revenue growth over the filed span5.6%bottom 36% of its family
the share of years revenue rosetop 36% of its family
the share of filed years with a profitbottom 31% of its family
the deepest fall from a revenue peak57.5%top 40% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

6.4/10

How has it treated the people who own it?

SI estimate 6.4/10, confidence 35 of 100 (one part).

weight 22% of this tense · 64th percentile among 146 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the top 36% of 146 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 146 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Valneva SE's shareholder treatment is put at 6.4 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 36% of 146 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.3/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.8/10

Is it financially healthy right now?

ROE -108%: lost 108¢ per shareholder dollar. Leverage 73%: owes 73¢ per asset dollar.

weight 45% of this tense · 38th percentile among 147 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Valneva SE lost about 108 cents for every dollar of shareholders' money, and gross profitability: its products earned about 17 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 73 cents per dollar of assets, and net share issuance: its share count grew 15.4% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 27% of its family
return on equitybottom 27% of its family
gross profit against assetstop 50% of its family
the share count against the year beforetop 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

4.5/10

How strong is its position in its industry?

bottom 45% of 102 in its family; net margin -66%.

weight 33% of this tense · 45th percentile among 102 sector filers · read for its customers

From the record

Valneva SE's standing among 102 graded names in its industry family: revenue of EUR 175 million in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of -66% ranks in the top 33%; revenue growth of -21.5% a year over the last 3 filed years ranks in the bottom 23% (its annual reports).

What it rests on

net margin-66.0%top 33% of its family
three-year revenue growth-21.5%bottom 23% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 130 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 130 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned: family median, 130 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Valneva SE's leadership is put at 5.0 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 130 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

3.4/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

3.1/10

How much room does it have to grow?

bottom 31% of 92 in its family for room to expand.

weight 45% of this tense · 31st percentile among 92 sector filers · read for itself

From the record

Valneva SE's room to grow, from the newest filed statements (fiscal 2025): cash of EUR 110 million against debt of EUR 179 million leaves -17.4% of its assets as net cash, bottom 4% of its family; cash from operations less capital spending is -32.8% of revenue (top 30%); a gross margin of 38.7% (bottom 20%); research spending of 48.8% of revenue (bottom 30%) (its annual report).

What it rests on

cash less debt against assets-17.4%bottom 4% of its family
cash from operations less capital spending against revenue-32.8%top 30% of its family
gross margin38.7%bottom 20% of its family
research spending against revenue48.8%bottom 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.3/10

What could actually drive growth from here?

bottom 33% of 100 in its family for growth drivers.

weight 33% of this tense · 33rd percentile among 100 sector filers · read for its customers

From the record

Valneva SE's growth drivers, from the filed years to fiscal 2025: revenue grew -21.5% a year over the last three filed years against 5.6% over all 7, slowing (bottom 24% of its family); the newest year grew 3% (bottom 40%); research spending grew -6.7% a year (bottom 33%); capital spending grew -46.7% a year (bottom 34%) (its annual reports). Valneva SE tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-27.1 points a yearbottom 24% of its family
the newest year's revenue growth3.0%bottom 40% of its family
three-year growth of research spending-6.7%bottom 33% of its family
three-year growth of capital spending-46.7%bottom 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

4.1/10

Did its newest year beat what its own record pointed to?

bottom 41% of 72 in its family for expectations against reality.

weight 22% of this tense · 41st percentile among 72 sector filers · read for its shareholders

From the record

Valneva SE's newest year against its own record: revenue of EUR 175 million in fiscal 2025 came in 50.3% above the EUR 116 million its prior three years' pace pointed to (top 27% of its family); net income of EUR 115 million against a prior three-year average of EUR 86 million (bottom 24%); a net margin of -66% against -37.6% before (bottom 27%) (its annual reports).

What it rests on

revenue against the prior three years' pace50.3%top 27% of its family
net income against the prior three years' average-35%bottom 24% of its family
net margin against its prior average-28.3 pointsbottom 27% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton VALN · research, not advice