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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/FCF

Alert me on EV/FCF

As of 16 October 2026, Moderna, Inc. (MRNA) trades at a EV/FCF of −66.1×. Over the past ten years it has ranged from −89.3× (July 2020) to 104× (December 2020); the current reading is higher than 1% of that period.

EV/FCF, daily

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Annual newest first

Period EV/FCF Change
FY2025 −3.0× —
FY2024 −2.2× —
FY2023 −9.1× —
FY2022 13.4× 94.23%
FY2021 6.9× (61.63%)
FY2020 18.0× —
FY2019 −11.0× —
FY2018 0.6× —
FY2017 −0.7× —
FY2016 −0.7× —

Quarterly newest first

Period EV/FCF Change
Jun 2026 −18.8× —
Mar 2026 −9.6× —
Dec 2025 −3.0× —
Sep 2025 −2.1× —
30 more quarters

Against its own ten years

Low −89.3× High 104×
Ten-year median −2.3×
Current reading's percentile 1

EV/FCF against peers

Company EV/FCF
MRNA Moderna, Inc. −66.1×
RVMD Revolution Medicines, Inc. compare −28.1×
ROIV Roivant Sciences Ltd. compare −25.1×
REGN Regeneron Pharmaceuticals, Inc. compare 21.5×
RPRX Royalty Pharma PLC compare 27.0×
ONC BeOne Medicines Ltd. - Sponsored ADR compare 28.5×
VRTX Vertex Pharmaceuticals Incorporated compare 31.4×
ARGX argenex SE compare 34.4×
ALNY Alnylam Pharmaceuticals, Inc. compare 35.0×

What EV/FCF is

EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.

((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)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))

The full definition of EV/FCF →

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