Healthcare · Biotechnology

Moderna, Inc.

NASDAQMRNA ISINUS60770K1079 SEC CIK0001682852 Listed on NASDAQ · USD

$238.07 -10.62 (-4.27%) Pre-market $236.66 (-4.84%) ≈ ₹22,343 a share

Open chart

Price, last 12 months+913.41% in a year

Key numbers

Market value: $96.33B
P/E (TTM): -33.6
Forward P/E: -33.6
EPS (TTM): $-7.10
Dividend yield: —
Beta: 1.16
Day range: $233.00 – $242.41
52-week range: $22.28 – $280.80
Volume: 1,614,500
10-day avg volume: $11.21M
Revenue (TTM): $2.53B
EBITDA (TTM): $-2.40B
Gross margin: 39.0%
Net margin: -110.5%
Return on equity: -34.5%
Debt / equity: 52.3%
Price / sales: 38.15
Shares out: 404.62M

52W low52W high

Quarterly results

Results for each quarter

Last 12 quarters from 10-Q and 10-K filings with the US SEC. Q4 = full year minus the first three quarters. Hover a bar to see the number.

Revenue and net income

$2.81B$6.00M$217.00M

Dec 23

$167.00M$-1.27B$-1.18B

Mar 24

$241.00M$-1.36B$-1.28B

Jun 24

$1.86B$-70.00M$13.00M

Sep 24

$966.00M$-1.25B$-1.12B

Dec 24

$108.00M$-1.05B$-971.00M

Mar 25

$142.00M$-907.00M$-825.00M

Jun 25

$1.02B$-260.00M$-200.00M

Sep 25

$678.00M$-857.00M$-826.00M

Dec 25

$389.00M$-1.39B$-1.34B

Mar 26

$145.00M$-815.00M$-782.00M

Jun 26

$1.31B$130.00M$162.00M

Sep 26

Revenue · QoQ (vs last quarter)

—-94%+44%+673%-48%-89%+31%+615%-33%-43%-63%+806%

Revenue · YoY (vs a year ago)

————-66%-35%-41%-45%-30%+260%+2.1%+29%

Net income · QoQ (vs last quarter)

—-641%-8.9%+101%-8,715%+13%+15%+76%-313%-63%+42%+121%

Net income · YoY (vs a year ago)

————-616%+17%+35%-1,638%+26%-38%+5.2%+181%

RevenueOperating incomeNet incomeLine = trend

US$	Dec 23	Mar 24	Jun 24	Sep 24	Dec 24	Mar 25	Jun 25	Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
Revenue	$2.81B	$167.00M	$241.00M	$1.86B	$966.00M	$108.00M	$142.00M	$1.02B	$678.00M	$389.00M	$145.00M	$1.31B
Cost of revenue	$929.00M	$96.00M	$115.00M	$514.00M	$739.00M	$90.00M	$119.00M	$207.00M	$452.00M	$955.00M	$93.00M	$318.00M
Gross profit	$1.88B	$71.00M	$126.00M	$1.35B	$227.00M	$18.00M	$23.00M	$809.00M	$226.00M	$-566.00M	$52.00M	$995.00M
Gross margin	67.0%	42.5%	52.3%	72.4%	23.5%	16.7%	16.2%	79.6%	33.3%	-145.5%	35.9%	75.8%
Research & development	$1.41B	$1.06B	$1.22B	$1.14B	$1.12B	$856.00M	$700.00M	$801.00M	$775.00M	$649.00M	$651.00M	$583.00M
Selling, general & admin	—	—	—	—	—	—	—	$268.00M	—	—	—	$282.00M
Operating income	$6.00M	$-1.27B	$-1.36B	$-70.00M	$-1.25B	$-1.05B	$-907.00M	$-260.00M	$-857.00M	$-1.39B	$-815.00M	$130.00M
Operating margin	0.2%	-758.1%	-565.6%	-3.8%	-129.0%	-972.2%	-638.7%	-25.6%	-126.4%	-356.8%	-562.1%	9.9%
Pre-tax income	$70.00M	$-1.17B	$-1.28B	$21.00M	$-1.18B	$-964.00M	$-818.00M	$-187.00M	$-799.00M	$-1.33B	$-767.00M	$171.00M
Income tax	$-147.00M	$10.00M	$0	$8.00M	$-64.00M	$7.00M	$7.00M	$13.00M	$27.00M	$9.00M	$15.00M	$9.00M
Net income	$217.00M	$-1.18B	$-1.28B	$13.00M	$-1.12B	$-971.00M	$-825.00M	$-200.00M	$-826.00M	$-1.34B	$-782.00M	$162.00M
Net margin	7.7%	-703.6%	-530.7%	0.7%	-115.9%	-899.1%	-581.0%	-19.7%	-121.8%	-345.2%	-539.3%	12.3%
EPS (diluted)	—	$-3.07	$-3.33	$0.03	—	$-2.52	$-2.13	$-0.51	—	$-3.40	$-1.97	$0.38

Income statement

Results for each year

8 fiscal years from the company's 10-K filings with the US SEC.

Revenue, gross profit and net income

$135.07M$135.07M$-384.73M

FY18

$60.00M$60.00M$-514.00M

FY19

$803.00M$795.00M$-747.00M

FY20

$18.47B$15.85B$12.20B

FY21

$19.26B$13.85B$8.36B

FY22

$6.85B$2.16B$-4.71B

FY23

$3.24B$1.77B$-3.56B

FY24

$1.94B$1.08B$-2.82B

FY25

Revenue · YoY (vs a year ago)

—-56%+1,238%+2,200%+4.3%-64%-53%-40%

Net income · YoY (vs a year ago)

—-34%-45%+1,733%-31%-156%+24%+21%

RevenueGross profitNet incomeLine = trend

FY18

$-1.55

FY19

$-1.96

FY20

$28.29

FY21

$20.12

FY22

$-12.33

FY23

$-9.28

FY24

$-7.26

FY25

EPS (diluted) · YoY (vs a year ago)

——-26%+1,543%-29%-161%+25%+22%

EPS (diluted)Line = trend

US$	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$135.07M	$60.00M	$803.00M	$18.47B	$19.26B	$6.85B	$3.24B	$1.94B
Revenue growth	—	-55.6%	1,238.3%	2,200.2%	4.3%	-64.4%	-52.7%	-39.9%
Cost of revenue	$0	$0	$8.00M	$2.62B	$5.42B	$4.69B	$1.46B	$868.00M
Gross profit	$135.07M	$60.00M	$795.00M	$15.85B	$13.85B	$2.16B	$1.77B	$1.08B
Gross margin	100.0%	100.0%	99.0%	85.8%	71.9%	31.5%	54.8%	55.3%
Research & development	$454.08M	$496.00M	$1.37B	$1.99B	$3.30B	$4.85B	$4.54B	$3.13B
Operating income	$-413.27M	$-546.00M	$-763.00M	$13.30B	$9.42B	$-4.24B	$-3.95B	$-3.07B
Operating margin	-306.0%	-910.0%	-95.0%	72.0%	48.9%	-61.9%	-121.9%	-158.1%
Depreciation & amortisation	$24.86M	$31.00M	$31.00M	$232.00M	$348.00M	$617.00M	$185.00M	$211.00M
Pre-tax income	$-384.41M	$-515.00M	$-744.00M	$13.29B	$9.58B	$-3.94B	$-3.61B	$-2.77B
Income tax	$326.00K	$-1.00M	$3.00M	$1.08B	$1.21B	$772.00M	$-46.00M	$54.00M
Tax rate	—	—	—	8.2%	12.7%	—	—	—
Net income	$-384.73M	$-514.00M	$-747.00M	$12.20B	$8.36B	$-4.71B	$-3.56B	$-2.82B
Net margin	-284.8%	-856.7%	-93.0%	66.1%	43.4%	-68.8%	-110.0%	-145.2%
EPS (diluted)	—	$-1.55	$-1.96	$28.29	$20.12	$-12.33	$-9.28	$-7.26

Balance sheet

Assets and debt

At each fiscal year end.

Equity, debt and cash

$1.53B$1.52B

FY18

$1.18B$1.10B

FY19

$2.56B$4.61B

FY20

$14.15B$10.73B

FY21

$19.12B$9.90B

FY22

$13.85B$8.60B

FY23

$10.90B$0$7.03B

FY24

$8.65B$590.00M$5.80B

FY25

Shareholders' equity · YoY (vs a year ago)

—-23%+118%+452%+35%-28%-21%-21%

Shareholders' equityTotal debtCash + short-term investmentsLine = trend

US$	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & equivalents	$658.36M	$236.00M	$2.62B	$6.85B	$3.21B	$2.91B	$1.93B	$2.60B
Short-term investments	$863.06M	$867.12M	$1.98B	$3.88B	$6.70B	$5.70B	$5.10B	$3.20B
Current assets	$1.56B	$1.13B	$6.30B	$16.07B	$13.43B	$10.33B	$8.10B	$6.54B
Total assets	$1.96B	$1.59B	$7.34B	$24.67B	$25.86B	$18.43B	$14.14B	$12.34B
Current liabilities	$222.80M	$143.12M	$4.39B	$9.13B	$4.92B	$3.02B	$2.21B	$1.99B
Long-term debt	—	—	—	—	—	—	$0	$590.00M
Total debt	—	—	—	—	—	—	$0	$590.00M
Total liabilities	$431.91M	$414.61M	$4.78B	$10.52B	$6.74B	$4.57B	$3.24B	$3.69B
Shareholders' equity	$1.53B	$1.18B	$2.56B	$14.15B	$19.12B	$13.85B	$10.90B	$8.65B
Current ratio	7.02	7.89	1.43	1.76	2.73	3.42	3.67	3.29
Debt / equity	—	—	—	—	—	—	0.00	0.07
Return on equity	-25.1%	-43.7%	-29.2%	86.3%	43.7%	-34.0%	-32.7%	-32.6%

Cash flow

Cash coming in and going out

Free cash flow = cash from operations minus capital spending. Shareholder returns = dividends + buybacks.

Free cash flow and shareholder returns

$-330.87M$-436.63M

FY18

$-459.00M$-491.00M$0

FY19

$2.03B$1.96B$0

FY20

$13.62B$13.34B$857.00M

FY21

$4.98B$4.58B$3.33B

FY22

$-3.12B$-3.83B$1.15B

FY23

$-3.00B$-4.06B$0

FY24

$-1.87B$-2.07B$2.00M

FY25

Operating cash flow · YoY (vs a year ago)

—-39%+542%+572%-63%-163%+3.7%+38%

Free cash flow · YoY (vs a year ago)

—-12%+499%+581%-66%-183%-6.0%+49%

Operating cash flowFree cash flowDividends + buybacksLine = trend

US$	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash from operations	$-330.87M	$-459.00M	$2.03B	$13.62B	$4.98B	$-3.12B	$-3.00B	$-1.87B
Capital spending	$-105.77M	$-32.00M	$-68.00M	$-284.00M	$-400.00M	$-707.00M	$-1.05B	$-192.00M
Free cash flow	$-436.63M	$-491.00M	$1.96B	$13.34B	$4.58B	$-3.83B	$-4.06B	$-2.07B
FCF margin	-323.3%	-818.3%	244.0%	72.2%	23.8%	-55.9%	-125.3%	-106.2%
Stock-based pay	$72.57M	$81.00M	$93.00M	$142.00M	$226.00M	$305.00M	$429.00M	$483.00M
Cash from investing	$-373.09M	$-15.00M	$-1.67B	$-8.52B	$-5.18B	$4.21B	$1.95B	$1.95B
Cash from financing	$1.23B	$52.00M	$2.03B	$-873.00M	$-3.45B	$-1.38B	$56.00M	$593.00M
Share buybacks	—	$0	$0	$-857.00M	$-3.33B	$-1.15B	$0	$-2.00M

About

About Moderna, Inc.

Moderna, Inc. is an American pharmaceutical and biotechnology company based in Cambridge, Massachusetts, that focuses on RNA therapeutics, primarily mRNA vaccines. These vaccines use a copy of a molecule called messenger RNA (mRNA) to carry instructions for proteins to produce an immune response. The company's name is derived from the terms "modified", "RNA", and "modern".

From Wikipedia (CC BY-SA 4.0).

Company details

Company name: Moderna, Inc.
Ticker: MRNA
Exchange: NASDAQ
ISIN: US60770K1079
SEC CIK: 0001682852
Sector: Healthcare
Industry: Biotechnology
SEC industry (SIC): Biological Products, (no Diagnostic Substances) (2836)
Incorporated in: Delaware
Financial year ends: 31 December
Filer type: Large accelerated filer
Latest annual report (10-K): 20 Feb 2026
CEO: Stéphane Bancel
Chair: Noubar B. Afeyan
Headquarters: Cambridge
Address: 325 Binney Street, Cambridge, Ma 02142
Founded: 2010
Employees: 4,700
Formerly known as: Moderna Therapeutics, Inc.
Trades in: US dollars (USD)
Website: modernatx.com

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Moderna, Inc.

Key numbers

Quarterly results

Revenue and net income

Income statement

Revenue, gross profit and net income

Balance sheet

Equity, debt and cash

Cash flow

Free cash flow and shareholder returns

About

Company details

News

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