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
Moderna, Inc.'s free cash flow for fiscal 2025 was −$2.1B, compared with −$4.1B in fiscal 2024. Over the twelve months to 30 June 2026 it was −$1.2B. Over the past ten years it has ranged from −$4.1B (fiscal 2024) to $13.3B (fiscal 2021); the current reading is higher than 30% of that period. Moderna, Inc. ranks 610th of 611 Biotechnology companies by free cash flow.
Free cash flow, annual
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Annual newest first
| Period | Free cash flow | Change |
|---|---|---|
| FY2025 | −$2.1B | — |
| FY2024 | −$4.1B | — |
| FY2023 | −$3.8B | — |
| FY2022 | $4.6B | (65.65%) |
| FY2021 | $13.3B | 580.76% |
| FY2020 | $2.0B | — |
| FY2019 | −$491.0M | — |
| FY2018 | −$436.6M | — |
| FY2017 | −$389.9M | — |
| FY2016 | $33.6M | — |
Quarterly newest first
| Period | Free cash flow | Change |
|---|---|---|
| Jun 2026 | −$563.0M | — |
| Mar 2026 | −$692.0M | — |
| Dec 2025 | $891.0M | — |
| Sep 2025 | −$880.0M | — |
| 32 more quarters | Free account |
Against its own ten years
Free cash flow against peers
| Company | Free cash flow |
|---|---|
| VRTX Vertex Pharmaceuticals Incorporated compare | $3.8B |
| REGN Regeneron Pharmaceuticals, Inc. compare | $3.6B |
| ARGX argenex SE compare | $1.4B |
| ONC BeOne Medicines Ltd. - Sponsored ADR compare | $1.3B |
| RPRX Royalty Pharma PLC compare | $1.3B |
| ALNY Alnylam Pharmaceuticals, Inc. compare | $819.9M |
| ROIV Roivant Sciences Ltd. compare | −$821.1M |
| RVMD Revolution Medicines, Inc. compare | −$1.2B |
| MRNA Moderna, Inc. | −$1.2B |
What Free cash flow is
Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.
Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)
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- Price to free cash flow
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