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.
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Moderna, Inc. (MRNA) Free cash flow margin
Moderna, Inc.'s free cash flow margin over the twelve months to 30 June 2026 was −55.8%, up 50.9 percentage points from fiscal 2025 (−106.7%). Over the past ten years it has ranged from −818.3% (fiscal 2019) to 244.0% (fiscal 2020); the current reading is higher than 50% of that period. That is below the Biotechnology industry median of 0.00% and below the Healthcare sector median of 0.00%.
Free cash flow margin, annual
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Annual newest first
| Period | Free cash flow margin | Change (points) |
|---|---|---|
| FY2025 | −106.7% | 18.57 |
| FY2024 | −125.3% | (69.45) |
| FY2023 | −55.9% | (79.64) |
| FY2022 | 23.8% | (48.42) |
| FY2021 | 72.2% | (171.76) |
| FY2020 | 244.0% | 1,062.29 |
| FY2019 | −818.3% | (495.06) |
| FY2018 | −323.3% | (133.84) |
| FY2017 | −189.4% | (220.42) |
| FY2016 | 31.0% | — |
Against its own ten years
Free cash flow margin against peers
| Company | Free cash flow margin |
|---|---|
| RPRX Royalty Pharma PLC compare | 51.7% |
| VRTX Vertex Pharmaceuticals Incorporated compare | 30.2% |
| ARGX argenex SE compare | 25.9% |
| REGN Regeneron Pharmaceuticals, Inc. compare | 23.0% |
| ONC BeOne Medicines Ltd. - Sponsored ADR compare | 21.7% |
| ALNY Alnylam Pharmaceuticals, Inc. compare | 17.1% |
| RVMD Revolution Medicines, Inc. compare | 0.00% |
| MRNA Moderna, Inc. | −55.8% |
| ROIV Roivant Sciences Ltd. compare | −10,901.0% |
| Biotechnology industry median | 0.00% |
| Healthcare sector median | 0.00% |
| Market median | 0.00% |
What Free cash flow margin is
Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.
(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue
More on MRNA
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement