Bavarian Nordic AS (CHIX:BAVAC) Debt-to-Equity: 0.01 (As of Mar. 2026) — 89% Below Median

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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

CHIX:BAVAC Bavarian Nordic AS CHIX:BAVAC
79 GF Score
Price kr188.30
GF Value kr173.46
! 2 Warning Signs
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What is Bavarian Nordic AS Debt-to-Equity?

Bavarian Nordic AS CHIX:BAVAC 79 Debt-to-Equity is 0.01 as of Mar. 2026, which is 89% below its 10-year median of 0.09. GuruFocus rates CHIX:BAVAC with a GF Score™ of 79/100 and a GF Value™ of kr173.46. The stock has 2 warning signs investors should review. Among 965 Biotechnology companies, Bavarian Nordic AS ranks better than 99.9% on this metric.

Bavarian Nordic AS's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was kr46 Mil. Bavarian Nordic AS's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was kr93 Mil. Bavarian Nordic AS's Total Stockholders Equity for the quarter that ended in Mar. 2026 was kr12,688 Mil. Bavarian Nordic AS's debt to equity for the quarter that ended in Mar. 2026 was 0.01.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Bavarian Nordic AS's Debt-to-Equity or its related term are showing as below:

CHIX:BAVAc' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.01   Med: 0.09   Max: 0.98
Current: 0.01

During the past 13 years, the highest Debt-to-Equity Ratio of Bavarian Nordic AS was 0.98. The lowest was 0.01. And the median was 0.09.

CHIX:BAVAc's Debt-to-Equity is ranked better than
99.9% of 965 companies
in the Biotechnology industry
Industry Median: 0.16 vs CHIX:BAVAc: 0.01

Bavarian Nordic AS  (CHIX:BAVAc) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.


Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.


Bavarian Nordic AS Debt-to-Equity Related Terms


Bavarian Nordic AS Debt-to-Equity Historical Data

* Premium members only.

The historical data trend for Bavarian Nordic AS's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Bavarian Nordic AS Debt-to-Equity Chart

Bavarian Nordic AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Debt-to-Equity
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.15 0.25 0.01 0.01 0.01

Bavarian Nordic AS Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Debt-to-Equity Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.01 0.01 0.01 0.01 0.01

CHIX:BAVAC vs VRTX, REGN, RVMD: Debt-to-Equity Comparison

For the Biotechnology subindustry, Bavarian Nordic AS's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Bavarian Nordic AS Debt-to-Equity vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Bavarian Nordic AS's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Bavarian Nordic AS's Debt-to-Equity falls into.


CHIX:BAVAC
79GF Score
Bavarian Nordic AS CHIX:BAVAC
Debt-to-Equity is just one metric. See GF Score™, valuation, warning signs, and more.
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Bavarian Nordic AS Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Bavarian Nordic AS's Debt to Equity Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Bavarian Nordic AS's Debt to Equity Ratio for the quarter that ended in Mar. 2026 is calculated as

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Debt-to-Equity →
What does a Debt-to-Equity of 0.01 mean?
Bavarian Nordic AS (CHIX:BAVAC) has a Debt-to-Equity of 0.01 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Bavarian Nordic AS and its competitors. This is 89% below median its historical median of 0.09. Over the past decade, Bavarian Nordic AS's Debt-to-Equity has ranged from 0.01 to 0.98. According to the industry distribution chart, Bavarian Nordic AS ranks #1 out of 965 companies in the Biotechnology industry, placing it in the top 0.099999999999994%.
Is Bavarian Nordic AS's Debt-to-Equity too high?
Bavarian Nordic AS's current Debt-to-Equity of 0.01 is 89% below median its 10-year median of 0.09. Over the past 10 years, this metric has ranged from a low of 0.01 to a high of 0.98. The Biotechnology industry median Debt-to-Equity is 0.16. Bavarian Nordic AS's value of 0.01 is 93.8% below this industry median. Based on the distribution chart, Bavarian Nordic AS ranks #1 out of 965 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Bavarian Nordic AS has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does Bavarian Nordic AS's Debt-to-Equity compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Bavarian Nordic AS ranks #1 out of 965 companies for Debt-to-Equity. This places Bavarian Nordic AS in the top 0% of its industry — outperforming the majority of peers. The industry median Debt-to-Equity is 0.16. Bavarian Nordic AS's value of 0.01 is 93.8% below this benchmark. Historically, Bavarian Nordic AS's own Debt-to-Equity has ranged from 0.01 to 0.98 over the past decade. While the company's 10-year median is 0.09 vs. the industry median of 0.16, Bavarian Nordic AS has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Biotechnology company?
The median Debt-to-Equity among Biotechnology companies is 0.16, based on 965 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Bavarian Nordic AS's current Debt-to-Equity of 0.01 is 93.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Bavarian Nordic AS and its competitors. For the Biotechnology industry, the median Debt-to-Equity is 0.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bavarian Nordic AS's current Debt-to-Equity is 0.01, which is 89% below median its own 10-year median of 0.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bavarian Nordic AS stock overvalued right now?
Bavarian Nordic AS (CHIX:BAVAC) has a current Debt-to-Equity of 0.01. The stock's GF Value™ is kr173.46, compared to a current price of kr188.30 — trading 8.6% above its estimated fair value. The current Debt-to-Equity is 0.01, which is 89% below median its 10-year median of 0.09 and 93.8% below the Biotechnology industry median of 0.16. Bavarian Nordic AS's overall GF Score™ is 79/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Bavarian Nordic AS (CHIX:BAVAC), the current Debt-to-Equity is 0.01 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Bavarian Nordic AS (CHIX:BAVAC) Overvalued in 2026?

Based on GuruFocus' analysis, Bavarian Nordic AS stock appears to be overvalued. The current stock price of kr188.30 is trading 8.6% above its estimated GF Value™ of kr173.46.

Key valuation signals for CHIX:BAVAC:

  • Debt-to-Equity: 0.01 (89% below median its 10-year median of 0.09)
  • GF Value™: kr173.46 vs. price of kr188.30 (8.6% above fair value)
  • GF Score™: 79/100 with 2 warning signs
  • Industry Position: 93.8% below the Biotechnology median (#1 of 965)

No single metric tells the full story. See the CHIX:BAVAC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Bavarian Nordic AS Business Description

Address Philip Heymans Alle 3, Hellerup, DNK, 2900
Bavarian Nordic AS is a biotechnology company focused on the research, development, manufacturing, and commercialization of life-saving vaccines. The group is a supplier of mpox and smallpox vaccines to governments to enhance public health preparedness and has a portfolio of travel vaccines. The vast majority of the company's revenue is generated in the United States, Germany, and other geographic markets. Its products include Encepur, Jynneos, Rabipur, Vaxchora, VIMKUNYA and Vivotif.
79GF Score

Get the complete analysis for CHIX:BAVAC

Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

kr188.30
Price
kr173.46
GF Value