NASDAQ · Financial Statements

Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo) (SVA) Financial Statements

$6.47 NASDAQ: SVA Market Cap $464.94M

Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo) most recently reported annual revenue of $386.0M, a net loss of $60.0M. Revenue grew at an average annual rate of 9.4% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo): Revenue rose from $67.0M in 2015 to $386.0M in 2025, a change of +476.1% over 9 years; net profit was positive in 6 of 10 reported years; operating margin moved from 5.5% to -75.5%, a shift of -81.0 percentage points; the most recent year shows a net loss of $60.0M.

Income Statement — 10 Years (USD millions)

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025
Revenue	$67.0M	$72.0M	$174.0M	$230.0M	$246.0M	$511.0M	$19.4B	$1.5B	$448.0M	$386.0M
Operating Expenses	$64.0M	$72.0M	$129.0M	$184.0M	$177.0M	$295.0M	$1.8B	$2.0B	$995.0M	$677.0M
Operating Profit	$4.0M	$1.0M	$45.0M	$45.0M	$69.0M	$216.0M	$17.6B	$-466.0M	$-547.0M	$-291.0M
Operating Margin	5.5%	0.7%	26.1%	19.7%	27.9%	42.2%	90.6%	-31.2%	-122.0%	-75.5%
Other Income	$-1.0M	$-1.0M	$0	$1.0M	$2.0M	$1.0M	$10.0M	$491.0M	$394.0M	$29.0M
Interest	$2.0M	$2.0M	$2.0M	$1.0M	$1.0M	$1.0M	$3.0M	$1.0M	$2.0M	$10.0M
Depreciation	$7.0M	$5.0M	$5.0M	$5.0M	$8.0M	$7.0M	$100.0M	$157.0M	$145.0M	$104.0M
Profit Before Tax	$3.0M	$0	$45.0M	$47.0M	$71.0M	$217.0M	$17.6B	$25.0M	$-153.0M	$-262.0M
Tax	$108.3M	$-676.1M	$18.5M	$22.5M	$7.9M	$14.5M	$17.7M	$-249.2M	$-68.8M	$24.1M
Net Profit	$-1.0M	$-1.0M	$26.0M	$22.0M	$45.0M	$110.0M	$8.5B	$114.0M	$-100.0M	$-60.0M
EPS	$-0.03	$-0.01	$0.45	$0.34	$0.41	$0.97	$74.27	$1.00	$-1.06	$-0.83
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Sep '19	Dec '19	Mar '20	Jun '20	Sep '20	Dec '20	Jun '21	Dec '21	Jun '22	Dec '22	Jun '23	Dec '23
Revenue	$64.0M	$81.0M	$15.0M	$52.0M	$115.0M	$327.0M	$11.0B	$8.4B	$1.2B	$280.0M	$140.0M	$308.0M
Operating Expenses	$51.0M	$52.0M	$24.0M	$53.0M	$88.0M	$131.0M	$848.0M	$974.0M	$595.0M	$1.4B	$571.0M	$431.0M
Operating Profit	$14.0M	$29.0M	$-9.0M	$0	$28.0M	$197.0M	$10.1B	$7.4B	$617.0M	$-1.1B	$-431.0M	$-123.0M
Operating Margin	21.4%	35.5%	-57.4%	-0.4%	24.1%	60.1%	92.3%	88.4%	50.9%	-384.5%	-306.7%	-40.0%
Interest	$0	$0	$0	$0	$1.0M	$0	$2.0M	$1.0M	$1.0M	$1.0M	$0	$2.0M
Profit Before Tax	$15.0M	$30.0M	$-8.0M	$0	$27.0M	$198.0M	$6.7B	$4.9B	$620.0M	$-570.0M	$-17.0M	$-89.0M
Tax	$19.6M	$-11.1M	$12.5M	$-1.2B	$21.1M	$12.9M	$23.5M	$31.4M	$21.9M	$34.9M	$201.4M	$-155.3M
Net Profit	$8.0M	$23.0M	$-6.0M	$-4.0M	$11.0M	$109.0M	$5.1B	$3.4B	$485.0M	$-371.0M	$17.0M	$-117.0M
EPS	$0.06	$0.20	$-0.06	$-0.04	$0.10	$0.96	$44.80	$29.47	$4.24	$-3.73	$0.15	$-1.17

Over the 10 years reported for Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo), borrowings increased from $25.0M in 2015 to $507.0M in 2025, cash stood at $1.2B in the latest year, shareholders' equity was $0, current assets covered current liabilities 4.59 times.

Balance Sheet — 10 Years (USD millions)

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025
Total Assets	$203.0M	$211.0M	$299.0M	$370.0M	$452.0M	$1.9B	$16.7B	$14.1B	$13.7B	$8.6B
Current Assets	$128.0M	$131.0M	$204.0M	$284.0M	$350.0M	$1.6B	$14.9B	$12.1B	$11.8B	$7.1B
Cash	$64.0M	$62.0M	$114.0M	$158.0M	$153.0M	$1.0B	$11.6B	$4.3B	$1.3B	$1.2B
Inventory	$19.0M	$14.0M	$20.0M	$25.0M	$28.0M	$106.0M	$376.0M	$181.0M	$140.0M	$94.0M
Receivables	$39.0M	$50.0M	$66.0M	$77.0M	$114.0M	$253.0M	$952.0M	$609.0M	$451.0M	$313.0M
Fixed Assets	$64.0M	$68.0M	$77.0M	$71.0M	$83.0M	$304.0M	$1.1B	$1.2B	$1.0B	$716.0M
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$0	$0	$0	$19.0M	$50.0M	$142.0M	$2.5B	$7.7B	$10.6B	$6.0B
Other Assets	$0	$0	$0	$0	$0	$0	$0	$0	$0	$13.0M
Total Liabilities	$66.0M	$82.0M	$122.0M	$78.0M	$100.0M	$781.0M	$2.9B	$1.4B	$1.6B	$2.2B
Current Liabilities	$58.0M	$66.0M	$93.0M	$58.0M	$87.0M	$680.0M	$2.4B	$1.1B	$1.1B	$1.5B
Borrowings	$25.0M	$43.0M	$40.0M	$14.0M	$20.0M	$136.0M	$145.0M	$75.0M	$299.0M	$507.0M
Other Liabilities	$41.0M	$39.0M	$82.0M	$64.0M	$80.0M	$645.0M	$2.7B	$1.3B	$1.3B	$1.7B
Equity	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Reserves	$122.0M	$116.0M	$151.0M	$253.0M	$294.0M	$746.0M	$9.3B	$8.9B	$8.7B	$4.4B

For Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo), operating cash flow was positive in 7 of 10 reported years; free cash flow in the latest year was negative at $559.0M; free cash flow was positive in 5 of 10 years; financing activities used $21.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025
Operating Cash Flow	$4.0M	$-14.0M	$60.0M	$8.0M	$39.0M	$479.0M	$15.4B	$-771.0M	$104.0M	$-510.0M
Investing Cash Flow	$-10.0M	$-24.0M	$-24.0M	$-31.0M	$-53.0M	$-332.0M	$-3.7B	$-6.2B	$-3.1B	$4.3B
Financing Cash Flow	$1.0M	$7.0M	$3.0M	$4.0M	$1.0M	$17.0M	$4.0M	$26.0M	$12.0M	$-21.0M
Net Cash Flow	$-26.0M	$0	$51.0M	$42.0M	$-2.0M	$894.0M	$10.6B	$-7.3B	$-3.0B	$554.0M
Free Cash Flow	$-1.0M	$-27.0M	$48.0M	$2.0M	$28.0M	$352.0M	$14.6B	$-1.2B	$-42.0M	$-559.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	-0.08
EV / EBITDA	0.98
FCF Yield	-120.32%
Quick Ratio	4.53
Interest Coverage	-29.67
Return 1Y	—
Return 3Y	—
Return 5Y	—

Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo) (SVA) financials — frequently asked questions

What is Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo)'s annual revenue?

Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo) (SVA) reported annual revenue of $386.0M in its most recent fiscal year.

What is Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo)'s net profit?

Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo) (SVA) reported a net loss of $60.0M in its most recent fiscal year.

What is SVA EV/EBITDA?

Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo)'s enterprise value to EBITDA (EV/EBITDA) ratio is 0.98.

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