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Moderna, Inc.

MRNA Healthcare Biotechnology

Moderna, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, down 39.9% from fiscal 2024. In the quarter to June 2026, revenue grew 2.11%, EPS grew 7.51%, free cash flow grew 38.9% and total debt rose 1,765.6%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100.

218.01 18.49 −7.82%
Market cap
$94.4B
P/E
0.0×
Fwd P/E
−5.5×
Dividend yield
—
F-score
3/9
Altman Z
2.46
Beneish M
−3.52
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Moderna, Inc. (MRNA) EV/EBITDA

Alert me on EV/EBITDA

Moderna, Inc. has no meaningful EV/EBITDA: its trailing twelve-month EBITDA is negative. Over the past ten years it has ranged from 0.0× (October 2026) to 125× (June 2021) — the current reading is the lowest in ten years.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 0.0× —
FY2024 0.0× —
FY2023 0.0× —
FY2022 6.3× (7.52%)
FY2021 6.8× —
FY2020 0.0× —
FY2019 0.0× —
FY2018 0.7× —
FY2017 0.0× —
FY2016 0.0× —

Quarterly newest first

Period EV/EBITDA Change
Jun 2026 0.0× —
Mar 2026 0.0× —
Dec 2025 0.0× —
Sep 2025 0.0× —
30 more quarters

Against its own ten years

Low 0.0× High 125×
Ten-year median 0.0×
Current reading's percentile 67

EV/EBITDA against peers

Company EV/EBITDA
ROIV Roivant Sciences Ltd. compare n/m
MRNA Moderna, Inc. n/m
RVMD Revolution Medicines, Inc. compare n/m
REGN Regeneron Pharmaceuticals, Inc. compare 17.6×
RPRX Royalty Pharma PLC compare 22.9×
VRTX Vertex Pharmaceuticals Incorporated compare 23.9×
ALNY Alnylam Pharmaceuticals, Inc. compare 27.2×
ARGX argenex SE compare 29.6×
ONC BeOne Medicines Ltd. - Sponsored ADR compare 34.6×
Biotechnology industry median 0.6×
Healthcare sector median 9.2×
Market median 11.0×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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