Moderna, Inc.
MRNA· Nasdaq· Biological Products, (No Diagnostic Substances)
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- -106.2%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +19.3%
We record prices for the companies we cover; MRNA is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 389.0M
- Revenue
- $1.9B
- Free cash flow
- -$2.1B
- Owner earnings
- -$2.5B
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- -158.1%
- Net
- -145.2%
- Free cash flow
- -106.2%
- Owner earnings
- -131.1%
- Stock pay
- 24.8%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- -32.6%
- ROE, 5 yr avg
- 6.1%
Growth (CAGR)
- Revenue, 3 yr
- -53.4%
- Revenue, 5 yr
- 19.3%
- Revenue, 9 yr
- 37.8%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $5.8B
- Total debt
- $590.0M
- Net cash
- $5.2B
- Debt/Equity
- 0.1x
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 0.4%
Financials: ten years from the 10-Ks
Revenue
$1.9B
+37.8% a year over 9 years
FY2016FY2025
Margins
Operating-158.1%Net-145.2%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow-$2.1BOwner earnings-$2.5B
FY2025
FY2016FY2025
Diluted shares
389.0M
+17.5% over 9 years, net dilution
FY2016FY2025
Net cash
$5.2B
$5.2B more cash than debt
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $108.4M | $205.8M | $135.1M | $60.2M | $803.0M | $18.5B | $19.3B | $6.8B | $3.2B | $1.9B |
| Revenue growth | – | 89.9% | -34.4% | -55.4% | 1233.7% | 2200.2% | 4.3% | -64.4% | -52.7% | -39.9% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | -206.4% | -130.9% | -306.0% | -906.8% | -95.0% | 72.0% | 48.9% | -61.9% | -121.9% | -158.1% |
| Net income | -$216.2M | -$255.9M | -$384.7M | -$514.0M | -$747.0M | $12.2B | $8.4B | -$4.7B | -$3.6B | -$2.8B |
| Net margin | -199.5% | -124.3% | -284.8% | -853.7% | -93.0% | 66.1% | 43.4% | -68.8% | -110.0% | -145.2% |
| Diluted EPS | – | – | – | $-1.55 | $-1.96 | $28.29 | $20.12 | $-12.33 | $-9.28 | $-7.26 |
| Return on invested capital? | – | – | – | – | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | $66.7M | -$331.5M | -$330.9M | -$459.0M | $2.0B | $13.6B | $5.0B | -$3.1B | -$3.0B | -$1.9B |
| Capital expenditure | $33.1M | $58.4M | $105.8M | $32.0M | $68.0M | $284.0M | $400.0M | $707.0M | $1.1B | $192.0M |
| Free cash flow | $33.6M | -$389.9M | -$436.6M | -$491.0M | $2.0B | $13.3B | $4.6B | -$3.8B | -$4.1B | -$2.1B |
| Stock-based compensation | $39.4M | $40.1M | $72.6M | $81.0M | $93.0M | $142.0M | $226.0M | $305.0M | $429.0M | $483.0M |
| Owner earnings? | -$5.8M | -$429.9M | -$509.2M | -$572.0M | $1.9B | $13.2B | $4.4B | -$4.1B | -$4.5B | -$2.5B |
| Free cash flow per share | – | – | – | $-1.48 | $5.14 | $30.94 | $11.01 | $-10.01 | $-10.56 | $-5.31 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | – | – | – | $0 | $0 | $857.0M | $3.3B | $1.2B | $0 | $2.0M |
| Diluted shares | – | – | – | 331.0M | 381.0M | 431.0M | 416.0M | 382.0M | 384.0M | 389.0M |
| Share count change? | – | – | – | – | 15.1% | 13.1% | -3.5% | -8.2% | 0.5% | 1.3% |
| Balance sheet | ||||||||||
| Cash and equivalents | $50.1M | $134.9M | $658.4M | $236.0M | $2.6B | $6.8B | $3.2B | $2.9B | $1.9B | $2.6B |
| Short-term investments | – | $621.2M | $863.1M | $867.1M | $2.0B | $3.9B | $6.7B | $5.7B | $5.1B | $3.2B |
| Total debt | – | – | – | – | – | – | – | – | $0 | $590.0M |
| Net debt | – | – | – | – | – | – | – | – | -$7.0B | -$5.2B |
| Shareholders' equity | -$334.8M | -$551.4M | $1.5B | $1.2B | $2.6B | $14.1B | $19.1B | $13.9B | $10.9B | $8.7B |
Latest filings
| 2026-07-31 | 10-Q | Quarterly report |
| 2026-07-31 | 8-K | Earnings release |
| 2026-05-01 | 10-Q | Quarterly report |
| 2026-05-01 | 8-K | Earnings release |
| 2026-03-16 | DEF 14A | Proxy statement |
| 2026-02-20 | 10-K | Annual report |
| 2026-02-13 | 8-K | Earnings release |
| 2026-01-12 | 8-K | Earnings release |
| 2025-11-06 | 10-Q | Quarterly report |
| 2025-11-06 | 8-K | Earnings release |
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