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Moderna

NASDAQ: MRNA · USD

Moderna financials

6 charts

Revenue

USD millions

$145M
Moderna Revenue. Quarterly values and changes versus the preceding comparable period. Missing values are unavailable.
PeriodRevenue
FY 2019 Q1$16.025M; Change unavailable vs FY 2018 Q4
FY 2019 Q2$13.083M; −18.4% vs FY 2019 Q1
FY 2019 Q3$17.046M; +30.3% vs FY 2019 Q2
FY 2019 Q4$14.055M; −17.5% vs FY 2019 Q3
FY 2020 Q1$8.389M; −40.3% vs FY 2019 Q4
FY 2020 Q2$66.351M; +690.9% vs FY 2020 Q1
FY 2020 Q3$157.91M; +138.0% vs FY 2020 Q2
FY 2020 Q4$570.745M; +261.4% vs FY 2020 Q3
FY 2021 Q1$1,937M; +239.4% vs FY 2020 Q4
FY 2021 Q2$4,354M; +124.8% vs FY 2021 Q1
FY 2021 Q3$4,969M; +14.1% vs FY 2021 Q2
FY 2021 Q4$7,211M; +45.1% vs FY 2021 Q3
FY 2022 Q1$6,066M; −15.9% vs FY 2021 Q4
FY 2022 Q2$4,749M; −21.7% vs FY 2022 Q1
FY 2022 Q3$3,364M; −29.2% vs FY 2022 Q2
FY 2022 Q4$5,084M; +51.1% vs FY 2022 Q3
FY 2023 Q1$1,862M; −63.4% vs FY 2022 Q4
FY 2023 Q2$344M; −81.5% vs FY 2023 Q1
FY 2023 Q3$1,831M; +432.3% vs FY 2023 Q2
FY 2023 Q4$2,811M; +53.5% vs FY 2023 Q3
FY 2024 Q1$167M; −94.1% vs FY 2023 Q4
FY 2024 Q2$241M; +44.3% vs FY 2024 Q1
FY 2024 Q3$1,862M; +672.6% vs FY 2024 Q2
FY 2024 Q4$966M; −48.1% vs FY 2024 Q3
FY 2025 Q1$108M; −88.8% vs FY 2024 Q4
FY 2025 Q2$142M; +31.5% vs FY 2025 Q1
FY 2025 Q3$1,016M; +615.5% vs FY 2025 Q2
FY 2025 Q4$678M; −33.3% vs FY 2025 Q3
FY 2026 Q1$389M; −42.6% vs FY 2025 Q4
FY 2026 Q2$145M; −62.7% vs FY 2026 Q1
Dec 31, 2018 through Sep 25, 2026

Free cash flow

USD millions

$-563M
Moderna Free cash flow. Quarterly values and changes versus the preceding comparable period. Missing values are unavailable.
PeriodFree cash flow
FY 2019 Q1$-151.522M; Change unavailable vs FY 2018 Q4
FY 2019 Q2$-122.806M; +19.0% vs FY 2019 Q1
FY 2019 Q3$-113.759M; +7.4% vs FY 2019 Q2
FY 2019 Q4$-102.435M; +10.0% vs FY 2019 Q3
FY 2020 Q1$-112.414M; −9.7% vs FY 2019 Q4
FY 2020 Q2$-42.507M; +62.2% vs FY 2020 Q1
FY 2020 Q3$873.456M; +2154.9% vs FY 2020 Q2
FY 2020 Q4$1,240.988M; +42.1% vs FY 2020 Q3
FY 2021 Q1$2,936M; +136.6% vs FY 2020 Q4
FY 2021 Q2$4,033M; +37.4% vs FY 2021 Q1
FY 2021 Q3$3,177M; −21.2% vs FY 2021 Q2
FY 2021 Q4$3,190M; +0.4% vs FY 2021 Q3
FY 2022 Q1$2,631M; −17.5% vs FY 2021 Q4
FY 2022 Q2$217M; −91.8% vs FY 2022 Q1
FY 2022 Q3$163M; −24.9% vs FY 2022 Q2
FY 2022 Q4$1,570M; +863.2% vs FY 2022 Q3
FY 2023 Q1$-1,338M; −185.2% vs FY 2022 Q4
FY 2023 Q2$-1,149M; +14.1% vs FY 2023 Q1
FY 2023 Q3$-1,740M; −51.4% vs FY 2023 Q2
FY 2023 Q4$402M; +123.1% vs FY 2023 Q3
FY 2024 Q1$-1,185M; −394.8% vs FY 2023 Q4
FY 2024 Q2$-1,456M; −22.9% vs FY 2024 Q1
FY 2024 Q3$-1,717M; −17.9% vs FY 2024 Q2
FY 2024 Q4$303M; +117.6% vs FY 2024 Q3
FY 2025 Q1$-1,154M; −480.9% vs FY 2024 Q4
FY 2025 Q2$-922M; +20.1% vs FY 2025 Q1
FY 2025 Q3$-880M; +4.6% vs FY 2025 Q2
FY 2025 Q4$891M; +201.3% vs FY 2025 Q3
FY 2026 Q1$-692M; −177.7% vs FY 2025 Q4
FY 2026 Q2$-563M; +18.6% vs FY 2026 Q1

Net margin

%

-539.31%
Moderna Net margin. Reported fiscal history.
Fiscal period%
FY 2019 Q1-827.81%
FY 2019 Q2-1,032.29%
FY 2019 Q3-722.72%
FY 2019 Q4-875.96%
FY 2020 Q1-1,480.87%
FY 2020 Q2-175.9%
FY 2020 Q3-147.96%
FY 2020 Q4-47.74%
FY 2021 Q163.04%
FY 2021 Q263.85%
FY 2021 Q367.08%
FY 2021 Q467.51%
FY 2022 Q160.29%
FY 2022 Q246.26%
FY 2022 Q331%
FY 2022 Q428.82%
FY 2023 Q14.24%
FY 2023 Q2-401.16%
FY 2023 Q3-198.25%
FY 2023 Q47.72%
FY 2024 Q1-703.59%
FY 2024 Q2-530.71%
FY 2024 Q30.7%
FY 2024 Q4-115.94%
FY 2025 Q1-899.07%
FY 2025 Q2-580.99%
FY 2025 Q3-19.69%
FY 2025 Q4-121.83%
FY 2026 Q1-345.24%
FY 2026 Q2-539.31%

P/E

× · TTM · Daily

—
Moderna P/E. Monthly closing observations; inspect daily values with the chart arrow keys.
Close date× · TTM · DailyFinancials through
2021-05-28133×2021-03-31
2021-06-30168.92×2021-03-31
2021-07-30254.19×2021-03-31
2021-08-3146.45×2021-06-30
2021-09-3047.46×2021-06-30
2021-10-2942.57×2021-06-30
2021-11-3021.66×2021-09-30
2021-12-3115.61×2021-09-30
2022-01-3110.41×2021-09-30
2022-02-285.43×2021-12-31
2022-03-316.08×2021-12-31
2022-04-294.75×2021-12-31
2022-05-314.23×2022-03-31
2022-06-304.16×2022-03-31
2022-07-294.78×2022-03-31
2022-08-313.94×2022-06-30
2022-09-303.53×2022-06-30
2022-10-314.48×2022-06-30
2022-11-306.16×2022-09-30
2022-12-306.29×2022-09-30
2023-01-316.17×2022-09-30
2023-02-286.76×2022-12-31
2023-03-317.48×2022-12-31
2023-04-286.47×2022-12-31
2023-05-3110.81×2023-03-31
2023-06-3010.29×2023-03-31
2023-07-319.96×2023-03-31
2023-08-3135.69×2023-06-30
2023-09-2932.6×2023-06-30
2023-10-3123.98×2023-06-30
2023-11-30—2023-09-30
2023-12-29—2023-09-30
2024-01-31—2023-09-30
2024-02-29—2023-12-31
2024-03-28—2023-12-31
2024-04-30—2023-12-31
2024-05-31—2024-03-31
2024-06-28—2024-03-31
2024-07-31—2024-03-31
2024-08-30—2024-06-30
2024-09-30—2024-06-30
2024-10-31—2024-06-30
2024-11-29—2024-09-30
2024-12-31—2024-09-30
2025-01-31—2024-09-30
2025-02-28—2024-09-30
2025-03-31—2024-09-30
2025-04-30—2024-09-30
2025-05-30—2025-03-31
2025-06-30—2025-03-31
2025-07-31—2025-03-31
2025-08-29—2025-06-30
2025-09-30—2025-06-30
2025-10-31—2025-06-30
2025-11-28—2025-09-30
2025-12-31—2025-09-30
2026-01-30—2025-09-30
2026-02-27—2025-12-31
2026-03-31—2025-12-31
2026-04-30—2025-12-31
2026-05-29—2026-03-31
2026-06-30—2026-03-31
2026-07-31—2026-03-31
2026-08-31—2026-06-30
2026-09-25—2026-06-30
Mean 30.22×Median 9.67×

ROIC

% · Annual / TTM

—
NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.
Moderna ROIC. Reported fiscal history.
Fiscal period% · Annual / TTM
FY 2019 Q1—
FY 2019 Q2—
FY 2019 Q3—
FY 2019 Q4—
FY 2020 Q1—
FY 2020 Q2—
FY 2020 Q3—
FY 2020 Q4—
FY 2021 Q1—
FY 2021 Q2—
FY 2021 Q3—
FY 2021 Q4—
FY 2022 Q1—
FY 2022 Q2—
FY 2022 Q3—
FY 2022 Q4—
FY 2023 Q1—
FY 2023 Q2—
FY 2023 Q3—
FY 2023 Q4—
FY 2024 Q1—
FY 2024 Q2—
FY 2024 Q3—
FY 2024 Q4—
FY 2025 Q1—
FY 2025 Q2—
FY 2025 Q3—
FY 2025 Q4—
FY 2026 Q1—
FY 2026 Q2—

Capital allocation

% of tracked cash uses

$37M
Moderna capital allocation. Quarterly values. Missing values are unavailable.
PeriodCapexAcquisitionsBuybacksDividendsDebt repaymentsTracked uses
FY 2019 Q1100% · $7.595MUnavailableUnavailableUnavailableUnavailable100% · $7.595M
FY 2019 Q2100% · $10.586MUnavailableUnavailableUnavailableUnavailable100% · $10.586M
FY 2019 Q3100% · $6.711MUnavailableUnavailableUnavailableUnavailable100% · $6.711M
FY 2019 Q4100% · $6.662MUnavailableUnavailableUnavailableUnavailable100% · $6.662M
FY 2020 Q1100% · $6.223MUnavailableUnavailableUnavailableUnavailable100% · $6.223M
FY 2020 Q2100% · $18.632MUnavailableUnavailableUnavailableUnavailable100% · $18.632M
FY 2020 Q3100% · $19.292MUnavailableUnavailableUnavailableUnavailable100% · $19.292M
FY 2020 Q4100% · $23.301MUnavailableUnavailableUnavailableUnavailable100% · $23.301M
FY 2021 Q1100% · $35MUnavailable0% · $0MUnavailableUnavailable100% · $35M
FY 2021 Q2100% · $30MUnavailable0% · $0MUnavailableUnavailable100% · $30M
FY 2021 Q3100% · $99MUnavailable0% · $0MUnavailableUnavailable100% · $99M
FY 2021 Q412.28% · $120MUnavailable87.72% · $857MUnavailableUnavailable100% · $977M
FY 2022 Q117.48% · $132M0% · $0M82.52% · $623MUnavailableUnavailable100% · $755M
FY 2022 Q26.28% · $87M0% · $0M93.72% · $1,298MUnavailableUnavailable100% · $1,385M
FY 2022 Q38.13% · $89M0% · $0M91.87% · $1,006MUnavailableUnavailable100% · $1,095M
FY 2022 Q418.62% · $92M0% · $0M81.38% · $402MUnavailableUnavailable100% · $494M
FY 2023 Q115.61% · $113M11.74% · $85M72.65% · $526MUnavailableUnavailable100% · $724M
FY 2023 Q227.15% · $234M0% · $0M72.85% · $628MUnavailableUnavailable100% · $862M
FY 2023 Q3100% · $140M0% · $0MUnavailableUnavailableUnavailable100% · $140M
FY 2023 Q4100% · $220M0% · $0M0% · $0MUnavailableUnavailable100% · $220M
FY 2024 Q1100% · $196M0% · $0M0% · $0MUnavailableUnavailable100% · $196M
FY 2024 Q2100% · $182M0% · $0M0% · $0MUnavailableUnavailable100% · $182M
FY 2024 Q3100% · $151M0% · $0M0% · $0MUnavailableUnavailable100% · $151M
FY 2024 Q4100% · $522M0% · $0M0% · $0MUnavailableUnavailable100% · $522M
FY 2025 Q1100% · $117MUnavailableUnavailableUnavailableUnavailable100% · $117M
FY 2025 Q2100% · $3MUnavailableUnavailableUnavailableUnavailable100% · $3M
FY 2025 Q3100% · $33MUnavailableUnavailableUnavailableUnavailable100% · $33M
FY 2025 Q4100% · $39MUnavailableUnavailableUnavailableUnavailable100% · $39M
FY 2026 Q1100% · $62MUnavailableUnavailableUnavailableUnavailable100% · $62M
FY 2026 Q2100% · $37MUnavailableUnavailableUnavailableUnavailable100% · $37M

Tracked cash uses · SBC excluded

Sources and calculations

Company filings · USD · Last checked 2026-10-18. Missing inputs remain unavailable. Your chart selection and layout are saved in this browser for Moderna.

All charts share the selected dates. Quarterly/Yearly changes fiscal charts; valuation keeps completed daily closes on a published TTM basis. Later restatements can delay that basis. Historical mean, median and pricing labels use the selected range and do not estimate intrinsic fair value.

SBC deduction is an optional economic-cost scenario for FCF-based metrics. Missing SBC never becomes zero.

Revenue
Reported revenue from company filings.
Free cash flow
Operating cash flow − reported cash capital investment. PPE purchases are preferred; the productive-assets fallback also includes software and intangibles. Reflects the SBC option and can differ from issuer-defined FCF.
Net margin
Reported net income / revenue × 100.
P/E
Completed closing price × diluted shares / TTM earnings attributable to common shareholders.
ROIC
NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
Capital allocation
Reported cash uses as a percentage of tracked uses. Missing categories remain unavailable; SBC is noncash and excluded.
Reported revenue and sources