Moderna debt and dilution—

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

—

Reported borrowing balances are unavailable in the extracted statements for this period.

Cash & equivalents

USD millions

$1,723M

Net debt

USD millions

—

Reported borrowing balances are unavailable in the extracted statements for this period.

Debt / equity

—

Reported borrowing balances are unavailable in the extracted statements for this period.

Debt / assets

—

Reported borrowing balances are unavailable in the extracted statements for this period.

Net debt / EBITDA

× · TTM

—

Trailing EBITDA is zero or negative, so this ratio is undefined.

Debt / FCF

× · TTM

—

Trailing free cash flow is zero or negative, so this ratio is undefined.

Interest coverage

× · TTM

—

The reported inputs required for this metric are unavailable in the extracted statements for this period.

Current ratio

2.29×

Diluted shares

Million shares

398M shares

Basic shares

Million shares

398M shares

Share count growth

2.58%

Share repurchases

USD millions

—

Quarterly data

Moderna capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	—	1,723	—	—	—	—	—	—	2.29×	398	398	2.58%	—
FY 2026 Q1	Mar 31, 2026	—	1,908	—	—	—	—	—	—	2.41×	395	395	2.33%	—
FY 2025 Q4	Dec 31, 2025	—	2,595	—	—	—	—	—	—	3.29×	391.97	391.97	1.29%	—
FY 2025 Q3	Sep 30, 2025	—	1,132	—	—	—	—	—	—	3.93×	390	390	1.3%	—
FY 2025 Q2	Jun 30, 2025	—	1,279	—	—	—	—	—	—	3.93×	388	388	1.04%	—
FY 2025 Q1	Mar 31, 2025	—	1,623	—	—	—	—	—	—	4.22×	386	386	1.05%	—
FY 2024 Q4	Dec 31, 2024	—	1,927	—	—	—	—	—	—	3.67×	386.98	386.98	1.3%	0
FY 2024 Q3	Sep 30, 2024	—	1,644	—	—	—	—	—	—	4.39×	399	385	1.05%	0
FY 2024 Q2	Jun 30, 2024	—	2,478	—	—	—	—	—	—	4.09×	384	384	0.79%	0
FY 2024 Q1	Mar 31, 2024	—	2,051	—	—	—	—	—	—	4.03×	382	382	-1.04%	0
FY 2023 Q4	Dec 31, 2023	—	2,907	—	—	—	—	—	—	3.42×	382	382	-1.56%	0
FY 2023 Q3	Sep 30, 2023	—	2,932	—	—	—	—	—	—	2.46×	381	381	-2.31%	1
FY 2023 Q2	Jun 30, 2023	—	3,801	—	—	—	—	—	—	3.39×	381	381	-3.79%	628
FY 2023 Q1	Mar 31, 2023	—	3,441	—	—	—	—	—	—	3.46×	405	386	-3.98%	526
FY 2022 Q4	Dec 31, 2022	—	3,205	—	—	—	—	—	—	2.73×	407.1	388.07	-4.41%	402
FY 2022 Q3	Sep 30, 2022	—	3,027	—	—	—	—	—	—	2.1×	412	390	-3.47%	1,006
FY 2022 Q2	Jun 30, 2022	—	2,873	—	—	—	—	—	—	1.99×	419	396	-1.49%	1,298
FY 2022 Q1	Mar 31, 2022	—	5,048	—	—	—	—	—	—	1.77×	426	402	0.5%	623
FY 2021 Q4	Dec 31, 2021	—	6,848	—	—	—	—	—	—	1.76×	431	405.97	2.55%	857
FY 2021 Q3	Sep 30, 2021	—	5,550	—	—	—	—	—	—	1.35×	434	404	2.28%	0
FY 2021 Q2	Jun 30, 2021	—	5,603	—	—	—	—	—	—	1.24×	431	402	5.51%	0
FY 2021 Q1	Mar 31, 2021	—	5,442	—	—	—	—	—	—	1.39×	430	400	13.31%	0
FY 2020 Q4	Dec 31, 2020	—	2,623.85	—	—	—	—	—	—	1.43×	395.89	395.89	—	—
FY 2020 Q3	Sep 30, 2020	—	1,505.58	—	—	—	—	—	—	2.43×	395	395	—	—
FY 2020 Q2	Jun 30, 2020	—	1,761.63	—	—	—	—	—	—	17.3×	381	381	—	—
FY 2020 Q1	Mar 31, 2020	—	391.72	—	—	—	—	—	—	9.29×	353	353	—	—
FY 2019 Q4	Dec 31, 2019	—	235.88	—	—	—	—	—	—	7.89×	—	—	—	—
FY 2019 Q3	Sep 30, 2019	—	173.71	—	—	—	—	—	—	7.4×	—	—	—	—
FY 2019 Q2	Jun 30, 2019	—	151.62	—	—	—	—	—	—	6.77×	—	—	—	—
FY 2019 Q1	Mar 31, 2019	—	502.93	—	—	—	—	—	—	7.17×	—	—	—	—

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · MRNA, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.