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Valneva SE ADR (VALN) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · BIOTECHNOLOGY · DATA UPDATED 2026-09-25

Valneva SE ADR (VALN) operates in the BIOTECHNOLOGY industry and is headquartered in Saint-Herblain, France with about 620 employees. Its market capitalization is roughly $522 million. In the fiscal year ended 2025-12-31, VALN reported €175M in revenue and (€115M) in net income.

Valneva SE, a specialty vaccine company, develops, manufactures, and commercializes prophylactic vaccines for infectious diseases with unmet needs.

Interactive charts & full statements → Open the VALN valuation workbench →

VALN Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	€144M	€175M	€170M	€154M	€361M	€348M	€110M	€126M	€113M	€105M	€94M	€78M	€37M	€30M	€3M	€10M	€8M	€3M	€3M	€1M	€2M
Gross Profit	€23M	€68M	€71M	€53M	€37M	€160M	€56M	€76M	€70M	€59M	€51M	€31M	€20M	€14M	(€8M)	€4M	€2M	(€2M)	€1M	(€1M)	€2M
Gross Margin %	16.4%	38.7%	41.9%	34.4%	10.2%	46.0%	50.8%	60.4%	61.6%	56.3%	54.2%	40.1%	53.6%	45.8%	-223.4%	34.5%	22.1%	-69.8%	19.7%	-94.3%	68.8%
Operating Income (EBIT)	(€116M)	(€82M)	€13M	(€82M)	(€113M)	(€61M)	(€55M)	(€1M)	€6M	(€4M)	(€43M)	(€20M)	(€24M)	(€21M)	(€13M)	(€4M)	(€8M)	(€6M)	(€3M)	(€5M)	€0M
Operating Margin %	-80.9%	-46.7%	7.9%	-53.4%	-31.4%	-17.6%	-50.0%	-0.6%	5.5%	-3.8%	-45.3%	-25.4%	-64.5%	-68.5%	-374.0%	-43.4%	-100.3%	-203.3%	-92.3%	-552.5%	-9.5%
Net Income	(€158M)	(€115M)	(€12M)	(€101M)	(€143M)	(€73M)	(€64M)	(€2M)	€3M	(€11M)	(€49M)	(€21M)	(€26M)	(€24M)	(€15M)	(€4M)	(€8M)	(€6M)	(€2M)	(€3M)	€0M
Net Margin %	-110.2%	-66.0%	-7.2%	-66.0%	-39.7%	-21.1%	-58.4%	-1.4%	2.9%	-10.9%	-52.3%	-26.3%	-71.2%	-79.2%	-432.6%	-43.1%	-94.8%	-198.4%	-69.9%	-388.2%	-10.4%
EBITDA	(€94M)	(€50M)	€32M	(€58M)	(€105M)	(€39M)	(€45M)	€10M	€13M	€4M	(€31M)	€10M	(€9M)	(€13M)	(€8M)	€1M	(€6M)	(€5M)	(€2M)	(€3M)	€1M
Earnings Per Share (EPS)	€-1.80	€-1.37	€-0.17	€-1.46	€-2.48	€-1.50	€-1.42	€-0.04	€0.08	€-0.30	€-1.32	€-0.57	€-0.95	€-1.23	€-1.40	€-0.42	€-0.91	€-0.84	€-0.28	€-0.51	€-0.05
Shares Outstanding (M)	95M	84M	70M	69M	58M	49M	45M	46M	41M	39M	37M	36M	28M	20M	11M	11M	9M	7M	8M	7M	5M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VALN Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	€36M	€31M	€48M	€29M	€48M	€49M	€53M	€46M
Gross Profit	€2M	€5M	€12M	€6M	€24M	€26M	€26M	€20M
Gross Margin %	4.6%	15.3%	24.4%	18.7%	50.1%	53.2%	48.6%	44.0%
Operating Income (EBIT)	(€28M)	(€24M)	(€28M)	(€37M)	(€11M)	(€6M)	(€21M)	(€12M)
Operating Margin %	-77.8%	-76.7%	-58.1%	-126.2%	-22.5%	-12.1%	-39.5%	-27.2%
Net Income	(€32M)	(€32M)	(€50M)	(€44M)	(€12M)	(€9M)	(€37M)	(€9M)
Net Margin %	-89.3%	-103.8%	-104.9%	-150.8%	-24.0%	-18.8%	-69.9%	-20.2%
EBITDA	(€23M)	(€19M)	(€20M)	(€32M)	(€6M)	(€2M)	(€26M)	(€2M)
Earnings Per Share (EPS)	€-0.33	€-0.37	€-0.58	€-0.52	€-0.15	€-0.12	€-0.53	€-0.13
Shares Outstanding (M)	95M	86M	87M	86M	77M	77M	70M	70M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VALN Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	(€83M)	(€53M)	(€67M)	(€203M)	(€245M)	€77M	€138M	€6M	€16M	€13M	€7M	(€24M)	(€15M)	(€21M)	(€13M)	(€9M)	(€3M)	€1M	(€2M)	(€4M)	(€3M)
Capital Expenditures (CapEx)	€3M	€4M	€16M	€14M	€29M	€93M	€19M	€11M	€3M	€4M	€4M	€3M	€4M	€3M	€1M	€8M	€6M	€4M	€1M	€1M	€1M
Free Cash Flow (FCF)	(€86M)	(€57M)	(€84M)	(€217M)	(€275M)	(€16M)	€118M	(€5M)	€13M	€9M	€3M	(€27M)	(€19M)	(€24M)	(€14M)	(€17M)	(€9M)	(€3M)	(€3M)	(€5M)	(€4M)
FCF Margin %	-59.7%	-32.9%	-49.3%	-141.2%	-76.0%	-4.7%	107.2%	-4.2%	11.6%	8.3%	3.0%	-34.4%	-50.6%	-79.4%	-409.3%	-163.4%	-104.8%	-103.3%	-92.3%	-542.5%	-166.6%
Dividends Paid	€0M	€0M	€0M	€0M	€0M	€0M	€0M	€0M	€0M	—	—	—	—	€28M	—	—	—	—	—	—	—

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VALN Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	(€18M)	€0M	(€47M)	(€17M)	(€3M)	(€8M)	€5M	(€10M)
Capital Expenditures (CapEx)	€0M	€0M	€1M	€1M	€1M	€1M	€4M	€16M
Free Cash Flow (FCF)	(€19M)	(€1M)	(€48M)	(€18M)	(€4M)	(€10M)	€1M	(€26M)
FCF Margin %	-52.9%	-1.8%	-101.1%	-61.6%	-8.4%	-19.5%	2.3%	-57.6%

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VALN Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	€388M	€399M	€500M	€460M	€621M	€817M	€449M	€265M	€230M	€189M	€207M	€275M	€228M	€254M	€54M	€73M	€79M	€46M	€41M	€40M	€15M
Cash & Cash Equivalents	€121M	€110M	€168M	€126M	€289M	€347M	€204M	€64M	€77M	€34M	€35M	€42M	€29M	€37M	€1M	€10M	€35M	€24M	€19M	€13M	€0M
Total Liabilities	€307M	€293M	€319M	€332M	€402M	€647M	€372M	€130M	€87M	€97M	€107M	€131M	€103M	€110M	€27M	€33M	€35M	€23M	€14M	€11M	€10M
Total Debt (Short + Long-Term)	€187M	€182M	€190M	€180M	€124M	€61M	€56M	€29M	€32M	€45M	€21M	€26M	€7M	€6M	€2M	€2M	€1M	€1M	€1M	€1M	€0M
Total Shareholders' Equity	€81M	€106M	€181M	€128M	€220M	€171M	€77M	€135M	€143M	€93M	€100M	€144M	€124M	€144M	€26M	€40M	€44M	€23M	€27M	€29M	€5M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive VALN viewer.

Other Companies in BIOTECHNOLOGY

DRUG · Bright Minds Biosciences Inc — $542 million
PBYI · Puma Biotechnology Inc — $539 million
NGNE · Neurogene Inc — $534 million
ENTX · Entera Bio Ltd — $530 million
FTH · Faeth Therapeutics, Inc. — $508 million
RGNX · Regenxbio Inc — $504 million
OVID · Ovid Therapeutics Inc — $496 million
CBIO · Crescent Biopharma, Inc. — $485 million

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