Debt-to-Equity Ratio

Vaxcyte’s debt-to-equity ratio of 0.04x means the company uses almost no borrowed money compared to its shareholders’ equity, indicating a low reliance on debt financing.

This is far below the healthcare sector median of 0.45x, placing PCVX in the 16th percentile among its peers, meaning only 16% of sector firms have a lower ratio. The trend data is not available, as both the year-over-year and quarter-over-quarter changes are listed as N/A, so no directional insight can be drawn from recent periods. With a very low debt level but no trend to confirm whether this is stable or shifting, the risk of financial distress from leverage appears minimal, yet the opportunity from borrowing to fund growth is also absent. This metric supports the overall CAUTIOUS verdict: a low debt ratio can signal conservatism, but without revenue or profitability context, it does not offset other concerns that led to the cautious view.

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