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) Operating margin
Moderna, Inc.'s operating margin over the twelve months to 30 June 2026 was −149.0%, up 9.1 percentage points from fiscal 2025 (−158.1%). Over the past ten years it has ranged from −910.0% (fiscal 2019) to 72.0% (fiscal 2021); the current reading is higher than 40% of that period. That is below the Biotechnology industry median of 0.00% and below the Healthcare sector median of 0.00%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | −158.1% | (36.22) |
| FY2024 | −121.9% | (60.01) |
| FY2023 | −61.9% | (110.80) |
| FY2022 | 48.9% | (23.08) |
| FY2021 | 72.0% | 167.00 |
| FY2020 | −95.0% | 814.98 |
| FY2019 | −910.0% | (604.03) |
| FY2018 | −306.0% | (175.10) |
| FY2017 | −130.9% | 75.57 |
| FY2016 | −206.4% | — |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | −562.1% | (205.26) |
| Mar 2026 | −356.8% | (230.41) |
| Dec 2025 | −126.4% | (100.81) |
| Sep 2025 | −25.6% | 613.14 |
| 30 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| RPRX Royalty Pharma PLC compare | 59.6% |
| VRTX Vertex Pharmaceuticals Incorporated compare | 38.0% |
| ARGX argenex SE compare | 30.1% |
| REGN Regeneron Pharmaceuticals, Inc. compare | 24.7% |
| ALNY Alnylam Pharmaceuticals, Inc. compare | 20.8% |
| ONC BeOne Medicines Ltd. - Sponsored ADR compare | 15.1% |
| RVMD Revolution Medicines, Inc. compare | 0.00% |
| MRNA Moderna, Inc. | −149.0% |
| ROIV Roivant Sciences Ltd. compare | −7,914.8% |
| Biotechnology industry median | 0.00% |
| Healthcare sector median | 0.00% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on MRNA
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow 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