MRNA

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Moderna, Inc.

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Key Metrics

Previous Close: $174.38
52-Week Range: $22.28 – $176.66
Market Cap: $53.23B
P/E (TTM): —
EPS (TTM): -7.99
Dividend Yield: —

Advanced Metrics

Price/Book: 7.87
PEG Ratio: —
Return on Equity: -39.00%
Return on Assets: -13.26%
Gross Margin: -66.02%
Operating Margin: -557.93%
Profit Margin: -141.43%
Current Ratio: 2.29
Debt/Equity: 0.19
Total Debt: $1.29B
Free Cash Flow: $299.25M
Revenue Growth: 2.10%
Earnings Growth: —
Enterprise Value: $65.77B

MRNA Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$18.88B	$6.75B	$3.20B	$1.92B
Cost of Revenue	$5.42B	$4.69B	$1.46B	$868.00M
Gross Profit	$13.46B	$2.06B	$1.74B	$1.05B
Research & Development	$3.29B	$4.84B	$4.54B	$3.13B
Selling, General & Admin	$1.13B	$1.55B	$1.17B	$1.02B
Operating Expenses	$4.04B	$6.30B	$5.68B	$4.13B
Operating Income	$9.42B	-$4.24B	-$3.94B	-$3.07B
EBITDA	$9.77B	-$3.62B	-$3.39B	-$2.54B
Pretax Income	$9.57B	-$3.94B	-$3.61B	-$2.77B
Income Tax	$1.21B	$772.00M	-$46.00M	$54.00M
Net Income	$8.36B	-$4.71B	-$3.56B	-$2.82B
Diluted EPS	20.12	-12.33	-9.28	-7.26
Diluted Shares	416.00M	382.00M	384.00M	389.00M

MRNA Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$3.21B	$2.91B	$1.93B	$2.60B
Receivables	$1.69B	$1.08B	$592.00M	$284.00M
Inventory	$949.00M	$202.00M	$117.00M	$153.00M
Current Assets	$13.43B	$10.32B	$8.10B	$6.54B
Total Assets	$25.86B	$18.43B	$14.14B	$12.34B
Current Liabilities	$4.92B	$3.02B	$2.21B	$1.99B
Long-Term Debt	—	—	—	$590.00M
Total Debt	$1.20B	$1.24B	$747.00M	$1.30B
Total Liabilities	$6.74B	$4.57B	$3.24B	$3.69B
Retained Earnings	$18.32B	$13.61B	$10.04B	$7.22B
Shareholders' Equity	$19.12B	$13.85B	$10.90B	$8.65B
Working Capital	$8.51B	$7.31B	$5.89B	$4.56B

MRNA Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$4.98B	-$3.12B	-$3.00B	-$1.87B
Capital Expenditure	-$400.00M	-$707.00M	-$1.05B	-$202.00M
Free Cash Flow	$4.58B	-$3.83B	-$4.05B	-$2.08B
Depreciation & Amortisation	$348.00M	$621.00M	$189.00M	$215.00M
Stock-Based Compensation	$226.00M	$305.00M	$429.00M	$483.00M
Investing Cash Flow	-$5.18B	$4.21B	$1.95B	$1.95B
Financing Cash Flow	-$3.45B	-$1.38B	$56.00M	$593.00M
Share Repurchases	-$3.33B	-$1.15B	$0.00	—
Net Change in Cash	-$3.64B	-$289.00M	-$999.00M	$666.00M

MRNA Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$137.00M	$1.00B	$676.00M	$389.00M	—
Cost of Revenue	$119.00M	$207.00M	$452.00M	$955.00M	—
Gross Profit	$18.00M	$795.00M	$224.00M	-$566.00M	—
Research & Development	$700.00M	$801.00M	$775.00M	$649.00M	—
Selling, General & Admin	$230.00M	$268.00M	$308.00M	$173.00M	—
Operating Expenses	$925.00M	$1.05B	$1.08B	$822.00M	—
Operating Income	-$907.00M	-$260.00M	-$857.00M	-$1.39B	—
EBITDA	-$760.00M	-$135.00M	-$724.00M	-$1.26B	—
Pretax Income	-$818.00M	-$187.00M	-$799.00M	-$1.33B	—
Income Tax	$7.00M	$13.00M	$27.00M	$9.00M	—
Net Income	-$825.00M	-$200.00M	-$826.00M	-$1.34B	—
Diluted EPS	-2.13	-0.51	-2.11	-3.40	-1.97
Diluted Shares	388.00M	390.00M	392.00M	395.00M	398.00M

MRNA Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$1.62B	$1.28B	$1.13B	$2.60B	$1.91B
Receivables	$306.00M	$457.00M	$1.39B	$284.00M	$182.00M
Inventory	$128.00M	$240.00M	$332.00M	$153.00M	$146.00M
Current Assets	$6.77B	$6.17B	$6.60B	$6.54B	$5.77B
Total Assets	$12.70B	$12.01B	$12.13B	$12.34B	$11.49B
Current Liabilities	$1.60B	$1.57B	$1.68B	$1.99B	$2.40B
Long-Term Debt	—	—	—	$590.00M	$590.00M
Total Debt	$745.00M	$741.00M	$734.00M	$1.30B	$1.30B
Total Liabilities	$2.64B	$2.61B	$2.81B	$3.69B	$4.08B
Retained Earnings	$9.07B	$8.25B	$8.05B	$7.22B	$5.88B
Shareholders' Equity	$10.07B	$9.40B	$9.33B	$8.65B	$7.41B
Working Capital	$5.16B	$4.60B	$4.92B	$4.56B	$3.38B

MRNA Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	-$1.04B	-$919.00M	-$847.00M	$930.00M	-$630.00M
Capital Expenditure	-$127.00M	-$3.00M	-$33.00M	-$39.00M	-$62.00M
Free Cash Flow	-$1.16B	-$922.00M	-$880.00M	$891.00M	-$692.00M
Depreciation & Amortisation	$39.00M	$57.00M	$52.00M	$67.00M	$59.00M
Stock-Based Compensation	$115.00M	$130.00M	$125.00M	$113.00M	$104.00M
Investing Cash Flow	$730.00M	$564.00M	$700.00M	-$48.00M	-$76.00M
Financing Cash Flow	$4.00M	$9.00M	-$1.00M	$581.00M	$17.00M
Net Change in Cash	-$303.00M	-$346.00M	-$148.00M	$1.46B	-$689.00M

Market Snapshot

About

Biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines. Known for developing one of the first COVID-19 vaccines. Works on treatments for infectious diseases, immuno-oncology, rare diseases, and cardiovascular conditions using mRNA technology.