Moderna, Inc. financials
Source: EDGAR filings · Built 2026-06-02T03:35:14Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -2.09B | -4.07B | -4.12B | 4.40B | 13.20B | 1.95B |
| EBITDA | -2.86B | -3.76B | -3.62B | 9.77B | 13.53B | -732.00M |
| Working Capital | 4.56B | 5.89B | 7.31B | 8.51B | 6.94B | 1.91B |
| Net Debt | -1.29B | -1.18B | -1.66B | -2.00B | -5.93B | -2.39B |
| Gross Margin | 55.35% | 54.76% | 31.47% | 71.88% | 85.83% | 99.00% |
| Operating Margin | -158.13% | -121.91% | -61.90% | 48.90% | 71.98% | -95.02% |
| Net Margin | -145.16% | -110.04% | -68.84% | 43.41% | 66.06% | -93.03% |
| Return on Equity (ROE) | -32.62% | -32.67% | -34.03% | 43.73% | 86.26% | -29.17% |
| Return on Assets (ROA) | -22.87% | -25.18% | -25.58% | 32.34% | 49.46% | -10.18% |
| Current Ratio | 3.29× | 3.67× | 3.42× | 2.73× | 1.76× | 1.44× |
| Debt-to-Equity | 0.15× | 0.07× | 0.09× | 0.06× | 0.06× | 0.09× |
| Effective Tax Rate | -1.95% | 1.28% | -19.58% | 12.67% | 8.15% | -0.40% |
| Cash Conversion Ratio | 0.66× | 0.84× | 0.66× | 0.60× | 1.12× | -2.71× |
| Accruals Ratio | -0.08× | -0.04× | -0.09× | 0.13× | -0.06× | -0.38× |
| SBC % of Revenue | 24.85% | 13.26% | 4.45% | 1.17% | 0.77% | 11.58% |
| CapEx Coverage | -8.71× | -2.83× | -3.12× | 8.53× | 32.12× | 26.67× |
| Free Cash Flow Per Share | $-5.37 | $-10.59 | $-10.78 | $10.57 | $30.62 | $5.12 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | — | — | 8.93× | 8.98× | — |
| P/FCF | — | — | — | 16.99× | 8.30× | 20.40× |
| FCF Yield | — | — | — | 5.88% | 12.05% | 4.90% |
| EV / EBITDA | — | — | — | 6.87× | 7.13× | — |
| P/S | 5.98× | 4.96× | 5.55× | 3.59× | 5.54× | 51.91× |
| P/B | 1.34× | 1.47× | 2.74× | 3.62× | 7.24× | 16.28× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 1.94B | 3.24B | 6.85B | 19.26B | 18.47B | — |
| Revenues | — | — | — | 19.26B | 18.47B | 803.00M |
| Cost of Goods and Services Sold | 868.00M | 1.46B | 4.69B | 5.42B | 2.62B | 8.00M |
| Research and Development Expense | 3.13B | 4.54B | 4.84B | 3.29B | 1.99B | 1.37B |
| Operating Income (Loss) | -3.07B | -3.94B | -4.24B | 9.42B | 13.30B | -763.00M |
| Income Tax Expense (Benefit) | 54.00M | -46.00M | 772.00M | 1.21B | 1.08B | 3.00M |
| Net Income (Loss) Attributable to Parent | -2.82B | -3.56B | -4.71B | 8.36B | 12.20B | -747.00M |
| Earnings Per Share, Basic | $-7.26 | $-9.28 | $-12.33 | $21.26 | $30.31 | $-1.96 |
| Weighted Average Number of Shares Outstanding, Basic | 389.00M | 384.00M | 382.00M | 394.00M | 403.00M | 381.00M |
| Earnings Per Share, Diluted | $-7.26 | $-9.28 | $-12.33 | $20.12 | $28.29 | $-1.96 |
| Weighted Average Number of Shares Outstanding, Diluted | 389.00M | 384.00M | 382.00M | 416.00M | 431.00M | 381.00M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 2.60B | 1.93B | 2.91B | 3.21B | 6.85B | 2.62B |
| Assets, Current | 6.54B | 8.10B | 10.32B | 13.43B | 16.07B | 6.30B |
| Assets | 12.34B | 14.14B | 18.43B | 25.86B | 24.67B | 7.34B |
| Liabilities, Current | 1.99B | 2.21B | 3.02B | 4.92B | 9.13B | 4.39B |
| Long-term Debt, Excluding Current Maturities | 590.00M | 0 | — | — | — | — |
| Liabilities | 3.69B | 3.24B | 4.57B | 6.74B | 10.52B | 4.78B |
| Stockholders' Equity Attributable to Parent | 8.65B | 10.90B | 13.85B | 19.12B | 14.14B | 2.56B |
| Common Stock, Shares, Outstanding | 394.00M | 386.00M | 382.00M | 385.00M | 403.00M | 399.00M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -1.87B | -3.00B | -3.12B | 4.98B | 13.62B | 2.03B |
| Payments to Acquire Property, Plant, and Equipment | 192.00M | 1.05B | 707.00M | 400.00M | 284.00M | 68.00M |
| Net Cash Provided by (Used in) Investing Activities | 1.95B | 1.95B | 4.21B | -5.18B | -8.52B | -1.67B |
| Payments for Repurchase of Common Stock | 2.00M | 0 | 1.15B | 3.33B | 857.00M | 0 |
| Net Cash Provided by (Used in) Financing Activities | 593.00M | 56.00M | -1.38B | -3.45B | -873.00M | 2.03B |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -692.00M | 891.00M | -2.96B | -2.08B | -1.15B | 303.00M |
| EBITDA | -1.33B | -791.00M | -209.00M | -851.00M | -1.01B | -1.19B |
| Working Capital | 3.38B | 4.56B | 4.92B | 4.60B | 5.16B | 5.89B |
| Net Debt | -610.00M | -1.29B | -398.00M | -538.00M | -878.00M | -1.18B |
| Gross Margin | -145.50% | 33.33% | 79.63% | 16.20% | 16.67% | 23.50% |
| Operating Margin | -356.81% | -126.40% | -25.59% | -638.73% | -972.22% | -128.99% |
| Net Margin | -345.24% | -121.83% | -19.68% | -580.99% | -899.07% | -115.94% |
| Return on Equity (ROE) | -18.13% | -9.55% | -2.14% | -8.78% | -9.65% | -10.27% |
| Return on Assets (ROA) | -11.69% | -6.69% | -1.65% | -6.87% | -7.64% | -7.92% |
| Current Ratio | 2.41× | 3.29× | 3.92× | 3.93× | 4.22× | 3.67× |
| Debt-to-Equity | 0.18× | 0.15× | 0.08× | 0.08× | 0.07× | 0.07× |
| Effective Tax Rate | -0.67% | -3.38% | -6.95% | -0.86% | -0.73% | 5.41% |
| Cash Conversion Ratio | 0.47× | -1.13× | 14.02× | 2.37× | 1.07× | -0.74× |
| Accruals Ratio | -0.06× | -0.14× | 0.21× | 0.09× | 0.01× | -0.14× |
| SBC % of Revenue | 26.74% | 16.67% | 36.42% | 172.54% | 106.48% | 10.77% |
| CapEx Coverage | -10.16× | 23.85× | -18.32× | -16.30× | -8.86× | 1.58× |
| Free Cash Flow Per Share | $-1.75 | $2.29 | $-7.58 | $-5.35 | $-2.99 | $0.79 |
Valuation Metrics
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 389.00M | 678.00M | 1.02B | 142.00M | 108.00M | 966.00M |
| Cost of Goods and Services Sold | 955.00M | 452.00M | 207.00M | 119.00M | 90.00M | 739.00M |
| Research and Development Expense | 649.00M | 775.00M | 801.00M | 700.00M | 856.00M | 1.12B |
| Operating Income (Loss) | -1.39B | -857.00M | -260.00M | -907.00M | -1.05B | -1.25B |
| Income Tax Expense (Benefit) | 9.00M | 27.00M | 13.00M | 7.00M | 7.00M | -64.00M |
| Net Income (Loss) Attributable to Parent | -1.34B | -826.00M | -200.00M | -825.00M | -971.00M | -1.12B |
| Earnings Per Share, Basic | $-3.40 | $-2.11 | $-0.51 | $-2.13 | $-2.52 | $-2.91 |
| Weighted Average Number of Shares Outstanding, Basic | 395.00M | 389.00M | 390.00M | 388.00M | 386.00M | 384.00M |
| Earnings Per Share, Diluted | $-3.40 | $-2.11 | $-0.51 | $-2.13 | $-2.52 | $-2.91 |
| Weighted Average Number of Shares Outstanding, Diluted | 395.00M | 389.00M | 390.00M | 388.00M | 386.00M | 384.00M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 1.91B | 2.60B | 1.13B | 1.28B | 1.62B | 1.93B |
| Assets, Current | 5.77B | 6.54B | 6.60B | 6.17B | 6.77B | 8.10B |
| Assets | 11.49B | 12.34B | 12.13B | 12.01B | 12.70B | 14.14B |
| Liabilities, Current | 2.40B | 1.99B | 1.68B | 1.57B | 1.60B | 2.21B |
| Long-term Debt, Excluding Current Maturities | 590.00M | 590.00M | — | — | — | 0 |
| Liabilities | 4.08B | 3.69B | 2.81B | 2.61B | 2.64B | 3.24B |
| Stockholders' Equity Attributable to Parent | 7.41B | 8.65B | 9.33B | 9.40B | 10.07B | 10.90B |
| Common Stock, Shares, Outstanding | 397.00M | 394.00M | 391.00M | 389.00M | 387.00M | 386.00M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -630.00M | 930.00M | -2.80B | -1.96B | -1.04B | 825.00M |
| Payments to Acquire Property, Plant, and Equipment | 62.00M | 39.00M | 153.00M | 120.00M | 117.00M | 522.00M |
| Net Cash Provided by (Used in) Investing Activities | -76.00M | -48.00M | 1.99B | 1.29B | 730.00M | -539.00M |
| Payments for Repurchase of Common Stock | — | — | — | — | — | 0 |
| Net Cash Provided by (Used in) Financing Activities | 17.00M | 581.00M | 12.00M | 13.00M | 4.00M | -3.00M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (MRNA CIK 0001682852),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.