Sinovac Biotech, Ltd (SVA) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Jun 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SVA SEC filings page.
Sinovac Biotech, Ltd (SVA) reported $386.0M in revenue for fiscal year 2025, up 6.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Balance-sheet monetization is financing distributions while a high gross margin still fails to cover the operating cost base.
After FY2021's exceptional profitability, the business posted operating losses in every year from FY2022 through FY2025, even as FY2025 gross margin recovered to67.9% from61.1% in FY2024. That combination points to a structurally oversized cost base rather than a problem confined to production costs: FY2025 gross profit was$262.0M , below SG&A and R&D combined at$549.2M .
FY2025 assets were
Cash conversion weakened alongside reported earnings: FY2024's
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Sinovac Biotech, Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Sinovac Biotech, Ltd's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 11/100.
Sinovac Biotech, Ltd's revenue grew 6.8% year-over-year to $386.0M, a solid pace of expansion. This earns a growth score of 10/100.
Sinovac Biotech, Ltd carries a low D/E ratio of 0.11, meaning only $0.11 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 80/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.59, Sinovac Biotech, Ltd holds $4.59 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 90/100.
Sinovac Biotech, Ltd's reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 3/100.
Sinovac Biotech, Ltd posts a -4.5% return on equity (ROE), meaning it loses $4 for every $100 of shareholders' equity. This results in a returns score of 19/100. This is down from 0.5% the prior year.
Sinovac Biotech, Ltd scores 1.19, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Sinovac Biotech, Ltd passes 3 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Sinovac Biotech, Ltd reported a net loss of $198.8M while operations used $512.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Sinovac Biotech, Ltd reported an operating loss of $490.1M against $9.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Sinovac Biotech, Ltd held $488.2M in cash against $494.9M in long-term debt as of Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
SVA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
SVA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q4'2420-F | Q4'2320-F | Q4'2220-F | Q4'2120-F | Q4'2010-K | Q4'1910-K | Q4'1810-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.5B-30.8% | $12.3B-9.4% | $13.6B-3.0% | $14.0B-16.3% | $16.8B+781.4% | $1.9B+320.4% | $452.3M+22.3% | $369.8M+23.6% |
| Current Assets | $7.1B-33.6% | $10.6B-8.2% | $11.6B+2.6% | $11.3B-24.3% | $14.9B+857.4% | $1.6B+346.3% | $349.6M+23.0% | $284.2M+39.4% |
| Cash & Equivalents | $488.2M+45.6% | $335.3M-70.2% | $1.1B-71.0% | $3.9B-66.6% | $11.6B+1015.2% | $1.0B+581.7% | $152.7M-3.4% | $158.2M+38.2% |
| Short-Term Investments | $5.5B-43.0% | $9.6B-2.8% | $9.9B+48.7% | $6.7B+268.3% | $1.8B+1235.7% | $135.2M+169.0% | $50.3M+165.9% | $18.9M |
| Inventory | $94.3M-2.7% | $96.9M-28.5% | $135.6M-22.6% | $175.3M-55.2% | $391.1M+269.6% | $105.8M+280.0% | $27.8M+11.0% | $25.1M+27.9% |
| Accounts Receivable | $286.3M-4.8% | $300.9M-29.2% | $424.9M-12.7% | $486.6M-48.4% | $942.7M+271.9% | $253.5M+122.9% | $113.7M+52.7% | $74.5M+12.5% |
| Long-Term Investments | $512.3M+4.3% | $491.3M-44.2% | $879.8M-38.3% | $1.4B+117.4% | $655.8M | $0 | $0 | $0 |
| Goodwill | $12.6M-54.2% | $27.5M | $0 | $0 | $0 | N/A | N/A | N/A |
| Total Liabilities | $4.1B+100.7% | $2.0B-61.4% | $5.3B-4.4% | $5.5B-28.6% | $7.8B+893.8% | $781.2M+680.4% | $100.1M+28.6% | $77.9M-36.2% |
| Current Liabilities | $1.5B+6.1% | $1.5B+12.3% | $1.3B+2.9% | $1.3B-50.1% | $2.5B+270.6% | $679.6M+679.4% | $87.2M+49.8% | $58.2M-37.1% |
| Non-Current Liabilities | $605.1M+2.2% | $592.0M-12.5% | $676.8M+27.5% | $530.8M-22.7% | $687.0M+576.2% | $101.6M+687.2% | $12.9M-34.3% | $19.6M-33.5% |
| Long-Term Debt | $494.9M+31.7% | $375.8M+48.0% | $253.9M+2050.7% | $11.8M-25.1% | $15.8M-55.1% | $35.1M+491.4% | $5.9M-17.7% | $7.2M-78.1% |
| Total Equity | $4.4B-46.3% | $8.3B-0.6% | $8.3B-2.1% | $8.5B-5.6% | $9.0B+1105.0% | $746.5M+153.9% | $294.0M+16.0% | $253.4M+67.7% |
| Retained Earnings | $2.8B-58.8% | $6.8B+0.7% | $6.8B-0.2% | $6.8B-0.1% | $6.8B+4623.8% | $144.2M+154.3% | $56.7M+138.2% | $23.8M+160.8% |
SVA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
SVA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Where Sinovac Biotech, Ltd Ranks
Frequently Asked Questions
What is Sinovac Biotech, Ltd's annual revenue?
Sinovac Biotech, Ltd (SVA) reported $386.0M in total revenue for fiscal year 2025. This represents a 6.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Sinovac Biotech, Ltd's revenue growing?
Sinovac Biotech, Ltd (SVA) revenue grew by 6.8% year-over-year, from $361.4M to $386.0M in fiscal year 2025.
Is Sinovac Biotech, Ltd profitable?
No, Sinovac Biotech, Ltd (SVA) reported a net income of -$198.8M in fiscal year 2025, with a net profit margin of -51.5%.
What is Sinovac Biotech, Ltd's EBITDA?
Sinovac Biotech, Ltd (SVA) had EBITDA of -$391.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Sinovac Biotech, Ltd have?
As of fiscal year 2025, Sinovac Biotech, Ltd (SVA) had $488.2M in cash and equivalents against $494.9M in long-term debt.
What is Sinovac Biotech, Ltd's gross margin?
Sinovac Biotech, Ltd (SVA) had a gross margin of 67.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Sinovac Biotech, Ltd's net profit margin?
Sinovac Biotech, Ltd (SVA) had a net profit margin of -51.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Sinovac Biotech, Ltd pay dividends?
Yes, Sinovac Biotech, Ltd (SVA) paid $55.00 per share in dividends during fiscal year 2025.
What is Sinovac Biotech, Ltd's return on equity (ROE)?
Sinovac Biotech, Ltd (SVA) has a return on equity of -4.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Sinovac Biotech, Ltd's free cash flow?
Sinovac Biotech, Ltd (SVA) recorded an outflow of $561.1M in free cash flow during fiscal year 2025. This represents a -267.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Sinovac Biotech, Ltd's operating cash flow?
Sinovac Biotech, Ltd (SVA) recorded an outflow of $512.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Sinovac Biotech, Ltd's total assets?
Sinovac Biotech, Ltd (SVA) had $8.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Sinovac Biotech, Ltd's capital expenditures?
Sinovac Biotech, Ltd (SVA) invested $48.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Sinovac Biotech, Ltd spend on research and development?
Sinovac Biotech, Ltd (SVA) invested $216.2M in research and development during fiscal year 2025.
What is Sinovac Biotech, Ltd's current ratio?
Sinovac Biotech, Ltd (SVA) had a current ratio of 4.59 as of fiscal year 2025, which is generally considered healthy.
What is Sinovac Biotech, Ltd's debt-to-equity ratio?
Sinovac Biotech, Ltd (SVA) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sinovac Biotech, Ltd's return on assets (ROA)?
Sinovac Biotech, Ltd (SVA) had a return on assets of -2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sinovac Biotech, Ltd's P/E ratio?
Sinovac Biotech, Ltd (SVA) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $642.4M as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sinovac Biotech, Ltd's price-to-sales ratio?
Sinovac Biotech, Ltd (SVA) trades at 1.7x sales, its market capitalization divided by revenue of $386.0M revenue, FY2025. The market capitalization is $642.4M as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sinovac Biotech, Ltd's Altman Z-Score?
Sinovac Biotech, Ltd (SVA) has an Altman Z-Score of 1.19, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Sinovac Biotech, Ltd's Piotroski F-Score?
Sinovac Biotech, Ltd (SVA) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Sinovac Biotech, Ltd's earnings high quality?
Sinovac Biotech, Ltd (SVA) reported a net loss of $198.8M while operations used $512.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Sinovac Biotech, Ltd cover its interest payments?
Sinovac Biotech, Ltd (SVA) reported an operating loss of $490.1M against $9.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Sinovac Biotech, Ltd?
Sinovac Biotech, Ltd (SVA) scores 36 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.