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MRNA · Moderna, Inc. · Financials

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$246.70 +4.62 (+1.91%)
Market Cap
$96.65B
Shares
399.24M
Volume · Oct 21 16.02M Avg daily vol (3M) 19.28M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

Revenue
$1.94B -39.9%
FY2025 Revenue FY2016–FY2025
Net Income
-$2.82B +20.8%
FY2025 Net Income FY2016–FY2025
Gross Margin
55.35% +0.6pp
FY2025 Gross Margin FY2018–FY2025
Operating Margin
-158.13% -36.2pp
FY2025 Operating Margin FY2016–FY2025
Diluted EPS
-$7.26 +21.8%
FY2025 Diluted EPS FY2019–FY2025
Operating Cash Flow
-$1.87B +37.6%
FY2025 Operating Cash Flow FY2016–FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Line Item TTM FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018 FY2017 FY2016
$2.23B $1.94BG $3.24BG $6.85BG $19.26BG $18.47BG $803M $60M $135.07M $205.83M $108.4M
$1.71B $868M $1.46B $4.69B $5.42B $2.62B $8M $0 $0 — —
$521M $1.08B $1.77B $2.16B $13.85B $15.85B $795M $60M $135.07M — —
— 55.35% 54.76% 31.47% 71.88% 85.83% 99% 100% 100% — —
$2.88B $3.13B $4.54B $4.85B $3.3B $1.99B $1.37B $496M $454.08M $410.46M $274.72M
$965M $1.02B $1.17B $1.55B $1.13B $567M $188M $110M $94.25M $64.72M $57.45M
$229M $211M $185M $617M $348M $232M $31M $31M $24.86M $20.54M $15.11M
$865.37M — — — — — — $605.93M $548.33M $475.18M $332.17M
$5.55B $5.02B $7.18B $11.09B $9.84B $5.18B $1.57B $606M $548.33M — —
-$3.32B -$3.07B -$3.95B -$4.24B $9.42B $13.3B -$763M -$546M -$413.27M -$269.36M -$223.77M
— -158.13% -121.91% -61.9% 48.9% 71.98% -95.02% -910% -305.97% -130.87% -206.44%
-$3.09B -$2.86B -$3.76B -$3.62B $9.77B $13.53B -$732M -$515M -$388.4M -$248.82M -$208.66M
$282M $314M $425M $421M $200M $18M $25M $39M $27.02M $15.24M $11.31M
-$49M -$8M -$87M -$124M -$45M -$29M -$6M -$8M $1.84M -$1.88M -$2.71M
-$3.09B -$2.77B -$3.61B -$3.94B $9.58B $13.29B -$744M -$515M -$384.41M -$256M -$215.17M
$64M $54M -$46M $772M $1.21B $1.08B $3M -$1M $326K -$80K $1.04M
-$3.15B -$2.82B -$3.56B -$4.71B $8.36B $12.2B -$747M -$514M -$384.73M -$255.92M -$216.21M
— -145.16% -110.04% -68.84% 43.41% 66.06% -93.03% -856.67% -284.84% -124.34% -199.46%
— — — — — — -$747.06M -$514.02M -$401.86M -$269.84M -$230.31M
-$3.16B -$2.77B -$3.45B -$4.47B $8.02B $12.18B -$746M -$511M -$384.9M -$256.67M -$216.05M
USD/shares -$7.98 -$7.26 -$9.28 -$12.33 $21.26 $30.31 -$1.96 -$1.55 — — —
USD/shares -$7.98 -$7.26 -$9.28 -$12.33 $20.12 $28.29 -$1.96 -$1.55 — — —
shares — 389M 384M 382M 394M 403M 381M 331M 81.11M 64.5M 60.75M
shares — 389M 384M 382M 416M 431M 381M 331M 81.11M 64.5M 60.75M
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2019–FY2025: $5.34B in buybacks.

Debt Profile

Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.

Reported debt balances

Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.

Reported balanceAs ofAmountSource
Finance lease liabilities 2026-06-30 USD 37,000,000 10-Q filed 2026-07-31
Related accounting measures — not additional borrowing

Carrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year.

Current finance lease liabilities
USD 31,000,000
Noncurrent finance lease liabilities
USD 6,000,000
Noncurrent debt carrying amount 2026-06-30 USD 591,000,000 10-Q filed 2026-07-31
Operating lease liabilities 2026-06-30 USD 659,000,000 10-Q filed 2026-07-31
Related accounting measures — not additional borrowing

Carrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year.

Current operating lease liabilities
USD 21,000,000
Noncurrent operating lease liabilities
USD 638,000,000
Instrument and agreement coverage is incomplete. Additional filings are awaiting review.
2 filings have incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged.

Covenants

Covenant terms have not yet been verified for this profile.

The balance figures do not establish whether covenants apply or whether the company complies with them.

Loans, facilities and notes

0.00% Convertible Senior Notes due 2032

Note · Moderna, Inc.

Reference: 0.00% Convertible Senior Notes due 2032

Active
Original principal
USD 3,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 0% Reported 2026-09-01 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-09-01 Original principal USD 3,000,000,000 Exact source document Parent 8-K filing · 2026-09-01
    On September 1, 2026, Moderna, Inc. (the “Company”) completed its previously announced private offering (the “Offering”) of $3,000,000,000 aggregate principal amount of 0.00% Convertible Senior Notes due 2032 (the “Notes”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $400,000,000 aggregate principal amount of the Notes. The Notes were issued pursuant to an indenture, dated September 1, 2026 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee.
    Issuer evidence: On September 1, 2026, Moderna, Inc. (the “Company”) completed its previously announced private offering (the “Offering”) of $3,000,000,000 aggregate principal amount of 0.00% Convertible Senior Notes due 2032 (the “Notes”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $400,000,000 aggregate principal amount of the Notes. The Notes were issued pursuant to an indenture, dated September 1, 2026 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee.
    Supporting evidence: On September 1, 2026, Moderna, Inc. (the “Company”) completed its previously announced private offering (the “Offering”) of $3,000,000,000 aggregate principal amount of 0.00% Convertible Senior Notes due 2032 (the “Notes”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $400,000,000 aggregate principal amount of the Notes. The Notes were issued pursuant to an indenture, dated September 1, 2026 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee.
    Supporting evidence: On September 1, 2026, Moderna, Inc. (the “Company”) completed its previously announced private offering (the “Offering”) of $3,000,000,000 aggregate principal amount of 0.00% Convertible Senior Notes due 2032 (the “Notes”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $400,000,000 aggregate principal amount of the Notes. The Notes were issued pursuant to an indenture, dated September 1, 2026 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue
42.87×
Peer median 9.68×
EV/EBIT
—
Peer median 26.96×
P/E (TTM)
—
Peer median 34.83×

Peer medians compare against the 19 similar-size Biotechnology companies (of 559 listed).

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Geography (USD)

Component FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018
United States $1,199,000,000 $1,785,000,000 $1,895,000,000 $5,150,000,000 $6,177,000,000 $764,000,000 $55,000,000 $89,075,000
Rest of World $692,000,000 $853,000,000 $3,598,000,000 $7,298,000,000 $5,448,000,000 $6,000,000 $0 —
Europe $53,000,000 $598,000,000 $1,355,000,000 $6,815,000,000 $6,846,000,000 $33,000,000 $5,000,000 —
Non Us — — — — — — — $45,993,000

By Product & Service (USD)

Component FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018
Product Sales $1,818,000,000 $3,109,000,000 $6,671,000,000 $18,435,000,000 $17,675,000,000 $200,000,000 $0 $0
COVID-19 $1,810,000,000 $3,084,000,000 $6,671,000,000 $18,435,000,000 — — — —
Stand Ready Manufacturing Revenue $80,000,000 $0 $0 — — — — —
Grant $22,000,000 $37,000,000 $94,000,000 $388,000,000 $735,000,000 $529,000,000 $12,000,000 $12,556,000
Collaboration Arrangement Including Arrangements With Affiliate $13,000,000 $48,000,000 $83,000,000 $440,000,000 $61,000,000 $74,000,000 $48,000,000 —
License and Royalty $11,000,000 $42,000,000 $0 $0 — — — —
RSV $8,000,000 $25,000,000 $0 $0 — — — —
Collaboration Arrangement — — — $440,000,000 $61,000,000 $74,000,000 $48,000,000 $122,512,000
Key facts CIK 1682852 CUSIP 60770K107 13F (30d) 185 filings 163 filers Visit website Investor relations