Moderna (MRNA) Financials

$26.56 -0.37 (-1.37%)

Closing price 05/30/2025 04:00 PM Eastern

Extended Trading

$26.55 -0.01 (-0.04%)

As of 05/30/2025 07:58 PM Eastern

Annual Income Statements for Moderna

This table shows Moderna's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016
Net Income / (Loss) Attributable to Common Shareholders	-3,561	-4,714	8,362	12,202	-747	-514	-402	-270	-230
Consolidated Net Income / (Loss)	-3,561	-4,714	8,362	12,202	-747	-514	-385	-256	-216
Net Income / (Loss) Continuing Operations	-3,561	-4,714	8,362	12,202	-747	-514	-385	-256	-216
Total Pre-Tax Income	-3,607	-3,942	9,575	13,285	-744	-515	-384	-256	-215
Total Operating Income	-3,945	-4,239	9,420	13,296	-763	-546	-413	-269	-224
Total Gross Profit	1,772	2,155	13,847	15,854	795	60	135	206	108
Total Revenue	3,236	6,848	19,263	18,471	803	60	135	206	108
Operating Revenue	3,236	6,848	19,263	18,471	803	60	135	206	108
Total Cost of Revenue	1,464	4,693	5,416	2,617	8.00	0.00	0.00	0.00	0.00
Operating Cost of Revenue	1,464	4,693	5,416	2,617	8.00	0.00	0.00	-	-
Total Operating Expenses	5,717	6,394	4,427	2,558	1,558	606	548	475	332
Selling, General & Admin Expense	1,174	1,549	1,132	567	188	110	94	65	57
Research & Development Expense	4,543	4,845	3,295	1,991	1,370	496	454	410	275
Total Other Income / (Expense), net	338	297	155	-11	19	31	29	13	8.60
Interest & Investment Income	425	421	200	18	25	39	27	15	11
Other Income / (Expense), net	-87	-124	-45	-29	-6.00	-8.00	1.84	-1.88	-2.71
Income Tax Expense	-46	772	1,213	1,083	3.00	-1.00	0.33	-0.08	1.04
Basic Earnings per Share	($9.28)	($12.33)	$21.26	$30.31	($1.96)	($1.55)	($4.95)	($4.18)	($3.79)
Weighted Average Basic Shares Outstanding	384M	382M	394M	403M	381M	331M	81.11M	64.50M	60.75M
Diluted Earnings per Share	($9.28)	($12.33)	$20.12	$28.29	($1.96)	($1.55)	($4.95)	($4.18)	($3.79)
Weighted Average Diluted Shares Outstanding	384M	382M	416M	431M	381M	331M	81.11M	64.50M	60.75M
Weighted Average Basic & Diluted Shares Outstanding	385.82M	382.07M	386.34M	402.87M	381.33M	330.80M	81.11M	64.50M	60.75M

This table shows Moderna's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-971	-1,120	13	-1,279	-1,175	217	-3,630	-1,380	79	1,465	1,043
Consolidated Net Income / (Loss)	-971	-1,120	13	-1,279	-1,175	217	-3,630	-1,380	79	1,465	1,043
Net Income / (Loss) Continuing Operations	-971	-1,120	13	-1,279	-1,175	217	-3,630	-1,380	79	1,465	1,043
Total Pre-Tax Income	-964	-1,184	21	-1,279	-1,165	70	-1,958	-1,749	-305	1,655	1,217
Total Operating Income	-1,050	-1,246	-70	-1,363	-1,266	6.00	-2,012	-1,867	-366	1,580	1,166
Total Gross Profit	18	227	1,348	126	71	1,882	-410	-387	1,070	3,166	2,264
Total Revenue	108	966	1,862	241	167	2,811	1,831	344	1,862	5,084	3,364
Operating Revenue	108	966	1,862	241	167	2,811	1,831	344	1,862	5,084	3,364
Total Cost of Revenue	90	739	514	115	96	929	2,241	731	792	1,918	1,100
Operating Cost of Revenue	90	739	514	115	96	929	2,241	731	792	1,918	1,100
Total Operating Expenses	1,068	1,473	1,418	1,489	1,337	1,876	1,602	1,480	1,436	1,586	1,098
Selling, General & Admin Expense	212	351	281	268	274	470	442	332	305	375	278
Research & Development Expense	856	1,122	1,137	1,221	1,063	1,406	1,160	1,148	1,131	1,211	820
Total Other Income / (Expense), net	86	62	91	84	101	64	54	118	61	75	51
Interest & Investment Income	90	91	103	111	120	103	105	104	109	87	58
Other Income / (Expense), net	-4.00	-29	-12	-27	-19	-39	-51	14	-48	-12	-7.00
Income Tax Expense	7.00	-64	8.00	0.00	10	-147	1,672	-369	-384	190	174
Basic Earnings per Share	($2.52)	($2.91)	$0.03	($3.33)	($3.07)	$0.62	($9.53)	($3.62)	$0.20	$3.95	$2.67
Weighted Average Basic Shares Outstanding	386M	384M	385M	384M	382M	382M	381M	381M	386M	394M	390M
Diluted Earnings per Share	($2.52)	($2.91)	$0.03	($3.33)	($3.07)	$0.63	($9.53)	($3.62)	$0.19	$3.77	$2.53
Weighted Average Diluted Shares Outstanding	386M	384M	399M	384M	382M	382M	381M	381M	405M	416M	412M
Weighted Average Basic & Diluted Shares Outstanding	386.74M	385.82M	384.82M	384.40M	383.24M	382.07M	381.28M	380.59M	381.21M	386.34M	384.18M

This table details how cash moves in and out of Moderna's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016
Net Change in Cash & Equivalents	-999	-289	-3,643	4,224	2,388	-422	523	86	-109
Net Cash From Operating Activities	-3,004	-3,118	4,981	13,620	2,027	-459	-331	-331	67
Net Cash From Continuing Operating Activities	-3,004	-3,118	4,981	13,620	2,027	-459	-331	-331	67
Net Income / (Loss) Continuing Operations	-3,561	-4,714	8,362	12,202	-747	-514	-385	-256	-216
Consolidated Net Income / (Loss)	-3,561	-4,714	8,362	12,202	-747	-514	-385	-256	-216
Depreciation Expense	189	621	348	232	31	31	25	21	15
Amortization Expense	-95	-61	31	54	10	-4.00	-1.87	1.09	2.48
Non-Cash Adjustments To Reconcile Net Income	516	293	261	101	156	88	73	40	39
Changes in Operating Assets and Liabilities, net	-53	743	-4,021	1,031	2,577	-60	-43	-137	226
Net Cash From Investing Activities	1,949	4,206	-5,176	-8,523	-1,672	-15	-373	417	-649
Net Cash From Continuing Investing Activities	1,949	4,206	-5,176	-8,523	-1,672	-15	-373	417	-649
Purchase of Property, Plant & Equipment	-1,051	-707	-400	-284	-68	-32	-106	-58	-33
Acquisitions	0.00	-85	0.00	0.00	-	-	-	-	-
Purchase of Investments	-6,529	-3,760	-11,435	-12,652	-2,956	-1,145	-1,228	-727	-1,415
Sale and/or Maturity of Investments	9,529	8,781	6,699	4,443	1,352	1,162	960	1,203	809
Other Investing Activities, net	0.00	-23	-40	-30	0.00	0.00	-	-	-8.90
Net Cash From Financing Activities	56	-1,377	-3,448	-873	2,033	52	1,227	0.17	473
Net Cash From Continuing Financing Activities	56	-1,377	-3,448	-873	2,033	52	1,227	0.17	474
Repurchase of Common Equity	0.00	-1,153	-3,329	-857	0.00	0.00	-	-	-
Issuance of Common Equity	66	46	65	124	2,039	51	564	0.21	0.01
Other Financing Activities, net	-10	-270	-184	-140	-6.00	1.00	9.46	1.44	0.00
Cash Interest Paid	24	39	25	14	9.00	6.00	3.00	0.00	0.00
Cash Income Taxes Paid	197	-357	2,729	480	1.00	0.00	0.29	0.40	0.91

This table details how cash moves in and out of Moderna's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-303	282	-833	409	-857	-25	-869	361	244	176	156
Net Cash From Operating Activities	-1,037	825	-1,566	-1,274	-989	622	-1,600	-915	-1,225	1,662	252
Net Cash From Continuing Operating Activities	-1,037	825	-1,566	-1,274	-989	622	-1,600	-915	-1,225	1,662	252
Net Income / (Loss) Continuing Operations	-971	-1,120	13	-1,279	-1,175	217	-3,630	-1,380	79	1,465	1,043
Consolidated Net Income / (Loss)	-971	-1,120	13	-1,279	-1,175	217	-3,630	-1,380	79	1,465	1,043
Depreciation Expense	39	60	52	41	36	202	249	92	78	80	113
Amortization Expense	-19	-19	-21	-28	-27	-20	-12	-12	-17	-4.00	6.00
Non-Cash Adjustments To Reconcile Net Income	129	172	126	91	127	78	92	26	97	59	92
Changes in Operating Assets and Liabilities, net	-215	1,732	-1,736	-99	50	145	1,701	359	-1,462	62	-1,002
Net Cash From Investing Activities	730	-539	721	1,649	118	-538	789	1,944	2,011	-1,048	945
Net Cash From Continuing Investing Activities	730	-539	721	1,649	118	-538	789	1,944	2,011	-1,048	945
Purchase of Property, Plant & Equipment	-117	-522	-151	-182	-196	-220	-140	-234	-113	-92	-89
Acquisitions	-10	-	-	-	0.00	-	-	-	-85	-	-
Purchase of Investments	-1,764	-1,888	-1,251	-846	-2,544	-1,663	-816	-196	-1,085	-2,510	-191
Sale and/or Maturity of Investments	2,621	1,871	2,123	2,677	2,858	1,345	1,745	2,374	3,317	1,559	1,225
Net Cash From Financing Activities	4.00	-3.00	11	34	14	-109	-58	-668	-542	-438	-1,041
Net Cash From Continuing Financing Activities	4.00	-3.00	11	34	14	-109	-58	-668	-542	-438	-1,041
Issuance of Common Equity	3.00	11	8.00	32	15	15	6.00	16	9.00	25	11
Other Financing Activities, net	1.00	-14	3.00	2.00	-1.00	-124	-65	-56	-25	-61	-46

This table presents Moderna's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017
Total Assets	14,142	18,426	25,858	24,669	7,337	1,589	2,020	1,084
Total Current Assets	8,099	10,325	13,431	16,071	6,298	1,129	37	783
Cash & Equivalents	1,927	2,907	3,205	6,848	2,624	236	-	135
Short-Term Investments	5,098	5,697	6,697	3,879	1,984	867	-	621
Accounts Receivable	358	892	1,385	3,175	1,391	5.37	8.95	13
Inventories, net	117	202	949	1,441	47	0.00	-	-
Prepaid Expenses	599	627	1,195	728	252	19	28	13
Plant, Property, & Equipment, net	2,196	1,945	2,018	1,241	0.00	0.00	209	139
Total Noncurrent Assets	3,847	6,156	10,409	7,357	1,039	461	63	162
Long-Term Investments	2,494	4,677	8,318	6,843	639	160	-	146
Other Noncurrent Operating Assets	1,353	1,479	1,109	188	400	301	63	16
Total Liabilities & Shareholders' Equity	14,142	18,426	25,858	24,669	7,337	1,589	2,020	1,084
Total Liabilities	3,241	4,572	6,735	10,524	4,776	415	355	459
Total Current Liabilities	2,206	3,015	4,923	9,128	4,389	143	91	191
Accounts Payable	405	520	487	302	18	7.09	-	21
Accrued Expenses	1,427	1,798	2,101	1,472	470	68	-	73
Current Deferred Revenue	153	568	2,038	6,253	3,867	63	82	97
Other Current Liabilities	221	129	249	225	34	5.06	9.33	1.28
Total Noncurrent Liabilities	1,035	1,557	1,812	1,396	387	271	264	268
Noncurrent Deferred Revenue	58	83	673	615	177	139	162	251
Other Noncurrent Operating Liabilities	977	1,474	1,139	781	100	94	64	1.53
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Total Equity & Noncontrolling Interests	10,901	13,854	19,123	14,145	2,561	1,175	-982	-551
Total Preferred & Common Equity	10,901	13,854	19,123	14,145	2,561	1,175	-982	-551
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Total Common Equity	10,901	13,854	19,123	14,145	2,561	1,175	-982	-551
Common Stock	866	371	1,173	4,211	4,802	2,669	-	72
Retained Earnings	10,045	13,606	18,320	9,958	-2,244	-1,496	-982	-622
Accumulated Other Comprehensive Income / (Loss)	-10	-123	-370	-24	3.00	1.80	-	-1.16

This table presents Moderna's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	12,704	14,142	15,803	15,680	16,729	18,426	19,450	21,884	24,125	25,858	26,056
Total Current Assets	6,766	8,099	9,666	9,661	9,600	10,325	10,799	10,599	12,122	13,431	14,297
Cash & Equivalents	1,623	1,927	1,644	2,478	2,051	2,907	2,932	3,801	3,441	3,205	3,027
Short-Term Investments	4,352	5,098	5,223	6,010	6,472	5,697	4,641	4,658	5,482	6,697	5,321
Accounts Receivable	78	358	1,564	163	137	892	1,866	232	1,113	1,385	2,695
Inventories, net	128	117	412	399	295	202	487	715	732	949	2,077
Prepaid Expenses	585	599	823	611	645	627	873	1,193	1,354	1,195	1,177
Plant, Property, & Equipment, net	2,212	2,196	2,381	2,196	2,063	1,945	1,952	2,280	2,018	2,018	2,019
Total Noncurrent Assets	3,726	3,847	3,756	3,823	5,066	6,156	6,699	9,005	9,985	10,409	9,740
Long-Term Investments	2,418	2,494	2,335	2,326	3,638	4,677	5,273	6,105	7,442	8,318	8,655
Other Noncurrent Operating Assets	1,308	1,353	1,340	1,416	1,347	1,479	1,426	1,420	1,281	1,109	165
Total Liabilities & Shareholders' Equity	12,704	14,142	15,803	15,680	16,729	18,426	19,450	21,884	24,125	25,858	26,056
Total Liabilities	2,638	3,241	3,876	3,968	3,912	4,572	5,995	4,935	5,262	6,735	8,064
Total Current Liabilities	1,604	2,206	2,201	2,363	2,380	3,015	4,385	3,123	3,499	4,923	6,807
Accounts Payable	226	405	373	279	183	520	494	310	389	487	330
Accrued Expenses	1,001	1,427	1,376	1,333	1,396	1,798	2,224	1,490	1,613	2,101	1,856
Current Deferred Revenue	125	153	379	702	559	568	1,372	1,040	1,219	2,038	4,002
Other Current Liabilities	252	221	69	42	190	129	239	236	212	249	553
Total Noncurrent Liabilities	1,034	1,035	1,675	1,605	1,532	1,557	1,610	1,812	1,763	1,812	1,257
Capital Lease Obligations	35	-	625	-	575	-	575	-	-	-	-
Noncurrent Deferred Revenue	58	58	95	95	58	83	166	692	673	673	175
Other Noncurrent Operating Liabilities	941	977	955	1,510	899	1,474	869	1,120	1,090	1,139	1,082
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	10,066	10,901	11,927	11,712	12,817	13,854	13,455	16,949	18,863	19,123	17,992
Total Preferred & Common Equity	10,066	10,901	11,927	11,712	12,817	13,854	13,455	16,949	18,863	19,123	17,992
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	10,066	10,901	11,927	11,712	12,817	13,854	13,455	16,949	18,863	19,123	17,992
Common Stock	982	866	751	631	487	371	277	193	731	1,173	1,488
Retained Earnings	9,074	10,045	11,165	11,152	12,431	13,606	13,389	17,019	18,399	18,320	16,855
Accumulated Other Comprehensive Income / (Loss)	10	-10	11	-71	-101	-123	-211	-263	-267	-370	-351

This table displays calculated financial ratios and metrics derived from Moderna's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	-52.75%	-64.45%	4.29%	2,200.25%	1,238.33%	-55.58%	-34.38%	89.88%	0.00%
EBITDA Growth	-3.55%	-138.99%	-28.03%	1,961.68%	-38.14%	-35.67%	-55.62%	-19.49%	0.00%
EBIT Growth	7.59%	-146.54%	-29.34%	1,825.23%	-38.81%	-34.65%	-51.69%	-19.76%	0.00%
NOPAT Growth	6.94%	-136.07%	-32.64%	2,386.48%	-39.74%	-32.12%	-53.43%	-20.37%	0.00%
Net Income Growth	24.46%	-156.37%	-31.47%	1,733.47%	-45.33%	-33.60%	-50.34%	-18.36%	0.00%
EPS Growth	24.74%	-161.28%	-28.88%	1,543.37%	-26.45%	68.69%	-18.42%	-10.29%	0.00%
Operating Cash Flow Growth	3.66%	-162.60%	-63.43%	571.93%	541.61%	-38.73%	0.19%	-596.72%	0.00%
Free Cash Flow Firm Growth	-35.38%	-167.65%	-70.15%	555.88%	687.30%	37.64%	-841.82%	0.00%	0.00%
Invested Capital Growth	141.19%	-36.54%	126.37%	-32.96%	-4,998.97%	-583.44%	97.18%	0.00%	0.00%
Revenue Q/Q Growth	-36.31%	-24.92%	-9.94%	56.12%	226.63%	-26.45%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	-54.13%	-64.77%	-28.34%	74.02%	-23.64%	3.61%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	-44.52%	-57.97%	-29.03%	74.82%	-22.80%	3.14%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	-46.49%	-59.06%	-29.65%	72.79%	-23.49%	4.07%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	-60.12%	-36.01%	-28.92%	72.81%	-25.07%	3.41%	0.00%	0.00%	0.00%
EPS Q/Q Growth	-61.67%	-34.17%	-27.21%	73.66%	-20.99%	30.18%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	6.33%	-50.05%	-24.86%	17.68%	205.30%	-1.78%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	11.86%	-27.99%	-28.88%	17.86%	175.37%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-58.75%	-51.60%	-8.70%	34.44%	-112.98%	6.14%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	54.76%	31.47%	71.88%	85.83%	99.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-121.69%	-55.53%	50.64%	73.37%	-90.66%	-878.33%	-287.58%	-121.27%	-192.71%
Operating Margin	-121.91%	-61.90%	48.90%	71.98%	-95.02%	-910.00%	-305.97%	-130.87%	-206.44%
EBIT Margin	-124.60%	-63.71%	48.67%	71.83%	-95.77%	-923.33%	-304.61%	-131.78%	-208.94%
Profit (Net Income) Margin	-110.04%	-68.84%	43.41%	66.06%	-93.03%	-856.67%	-284.84%	-124.34%	-199.46%
Tax Burden Percent	98.72%	119.58%	87.33%	91.85%	100.40%	99.81%	100.08%	99.97%	100.48%
Interest Burden Percent	89.46%	90.35%	102.13%	100.14%	96.75%	92.96%	93.43%	94.38%	95.01%
Effective Tax Rate	0.00%	0.00%	12.67%	8.15%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-282.51%	-402.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-275.49%	-390.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	253.74%	373.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-28.77%	-28.59%	50.27%	146.08%	-39.99%	-534.36%	215.46%	-40.93%	0.00%
Cash Return on Invested Capital (CROIC)	-365.27%	-357.36%	431.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-24.76%	-19.70%	37.11%	82.90%	-17.23%	-30.70%	-26.51%	-25.01%	0.00%
Return on Assets (ROA)	-21.87%	-21.29%	33.10%	76.25%	-16.74%	-28.48%	-24.79%	-23.60%	0.00%
Return on Common Equity (ROCE)	-28.77%	-28.59%	50.27%	146.08%	-39.99%	-534.36%	925.32%	36.09%	0.00%
Return on Equity Simple (ROE_SIMPLE)	-32.67%	-34.03%	43.73%	86.26%	-29.17%	-43.75%	39.16%	46.42%	0.00%
Net Operating Profit after Tax (NOPAT)	-2,762	-2,967	8,227	12,212	-534	-382	-289	-189	-157
NOPAT Margin	-85.34%	-43.33%	42.71%	66.12%	-66.51%	-637.00%	-214.18%	-91.61%	-144.51%
Net Nonoperating Expense Percent (NNEP)	-7.01%	-11.09%	0.76%	-0.09%	-6.69%	-105.32%	217.18%	-15.19%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	-25.33%	-21.42%	43.02%	-	-	-	-	-	-
Cost of Revenue to Revenue	45.24%	68.53%	28.12%	14.17%	1.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	36.28%	22.62%	5.88%	3.07%	23.41%	183.33%	69.78%	31.45%	53.00%
R&D to Revenue	140.39%	70.75%	17.11%	10.78%	170.61%	826.67%	336.19%	199.42%	253.44%
Operating Expenses to Revenue	176.67%	93.37%	22.98%	13.85%	194.02%	1,010.00%	405.97%	230.87%	306.44%
Earnings before Interest and Taxes (EBIT)	-4,032	-4,363	9,375	13,267	-769	-554	-411	-271	-226
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-3,938	-3,803	9,754	13,553	-728	-527	-388	-250	-209
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.47	2.74	3.61	7.28	16.14	5.55	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	1.47	2.74	3.61	7.28	16.14	5.55	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.94	5.54	3.58	5.58	51.48	108.64	2.97	2.94	5.58
Price to Earnings (P/E)	0.00	0.00	8.25	8.44	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	12.12%	11.85%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	4.69	43.00	56.24	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	2.00	3.60	2.64	4.62	45.08	88.22	3.25	4.34	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	5.21	6.30	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	5.42	6.44	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	6.17	6.99	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	10.20	6.27	17.86	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	13.03	6.54	18.18	0.00	0.00	12.19	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.04	0.03	-0.04	0.03	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.04	0.03	-0.04	0.03	0.00
Financial Leverage	-0.92	-0.96	-1.08	-1.36	-1.70	-1.30	-0.25	-1.42	0.00
Leverage Ratio	1.32	1.34	1.52	1.92	2.39	18.76	-8.69	1.73	0.00
Compound Leverage Factor	1.18	1.21	1.55	1.92	2.31	17.44	-8.12	1.64	0.00
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	4.12%	3.19%	-3.99%	2.45%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	4.12%	3.19%	-3.99%	2.45%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	183.57%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	95.88%	96.81%	103.99%	-86.02%	0.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	-0.15	-0.07	-0.10	-0.06	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	7.06	2.33	-0.10	3.55	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	-0.15	-0.07	-0.10	-0.06	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	-0.21	-0.10	-0.13	-0.08	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	9.62	3.21	-0.13	4.71	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	-0.21	-0.10	-0.13	-0.08	0.00
Altman Z-Score	3.74	6.08	9.48	9.30	4.84	7.75	-0.64	0.01	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-329.47%	188.18%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	3.67	3.42	2.73	1.76	1.44	7.89	0.41	4.09	0.00
Quick Ratio	3.35	3.15	2.29	1.52	1.37	7.74	0.10	4.02	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3,571	-2,637	3,899	13,061	1,991	-339	-544	73	0.00
Operating Cash Flow to CapEx	-285.82%	-441.02%	1,245.25%	4,795.77%	2,980.88%	-1,434.38%	-312.83%	-567.60%	201.35%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.20	0.31	0.76	1.15	0.18	0.03	0.09	0.19	0.00
Accounts Receivable Turnover	5.18	6.01	8.45	8.09	1.15	8.38	12.08	15.34	0.00
Inventory Turnover	9.18	8.15	4.53	3.52	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.56	3.46	11.82	0.00	0.00	0.00	0.78	1.48	0.00
Accounts Payable Turnover	3.17	9.32	13.73	16.36	0.64	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	70.50	60.68	43.20	45.11	317.36	43.55	30.22	23.79	0.00
Days Inventory Outstanding (DIO)	39.77	44.76	80.53	103.77	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	115.31	39.16	26.59	22.32	572.37	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-5.05	66.28	97.15	126.57	-255.01	43.55	30.22	23.79	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	1,382	573	903	-3,425	-2,576	-51	-7.39	-262	0.00
Invested Capital Turnover	3.31	9.28	-15.28	-6.16	-0.61	-2.07	-1.00	-1.57	0.00
Increase / (Decrease) in Invested Capital	809	-330	4,328	-849	-2,525	-43	254	-262	0.00
Enterprise Value (EV)	6,482	24,638	50,786	85,406	36,203	5,293	439	894	0.00
Market Capitalization	16,001	37,919	69,006	102,976	41,340	6,518	401	604	604
Book Value per Share	$28.33	$36.34	$49.78	$34.89	$6.47	$3.53	($12.11)	($8.55)	$0.00
Tangible Book Value per Share	$28.33	$36.34	$49.78	$34.89	$6.47	$3.53	($12.11)	($8.55)	$0.00
Total Capital	10,901	13,854	19,123	14,145	2,671	1,213	-945	641	0.00
Total Debt	0.00	0.00	0.00	0.00	110	39	38	16	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	110	39	38	16	0.00
Net Debt	-9,519	-13,281	-18,220	-17,570	-5,137	-1,225	38	-887	0.00
Capital Expenditures (CapEx)	1,051	707	400	284	68	32	106	58	33
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,132	-1,294	-1,394	-3,784	-2,699	-118	-54	-165	0.00
Debt-free Net Working Capital (DFNWC)	5,893	7,310	8,508	6,943	1,909	986	-54	592	0.00
Net Working Capital (NWC)	5,893	7,310	8,508	6,943	1,909	986	-54	592	0.00
Net Nonoperating Expense (NNE)	800	1,747	-135	10	213	132	95	67	60
Net Nonoperating Obligations (NNO)	-9,519	-13,281	-18,220	-17,570	-5,137	-1,225	975	-887	0.00
Total Depreciation and Amortization (D&A)	94	560	379	286	41	27	23	22	18
Debt-free, Cash-free Net Working Capital to Revenue	-34.98%	-18.90%	-7.24%	-20.49%	-336.11%	-197.24%	-40.02%	-80.27%	0.00%
Debt-free Net Working Capital to Revenue	182.11%	106.75%	44.17%	37.59%	237.73%	1,642.82%	-40.02%	287.51%	0.00%
Net Working Capital to Revenue	182.11%	106.75%	44.17%	37.59%	237.73%	1,642.82%	-40.02%	287.51%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($9.28)	($12.33)	$21.26	$30.31	($1.96)	($1.55)	($4.95)	($4.18)	($3.79)
Adjusted Weighted Average Basic Shares Outstanding	384M	382M	394M	403M	399.77M	368.64M	329.00M	64.50M	60.75M
Adjusted Diluted Earnings per Share	($9.28)	($12.33)	$20.12	$28.29	($1.96)	($1.55)	($4.95)	($4.18)	($3.79)
Adjusted Weighted Average Diluted Shares Outstanding	384M	382M	416M	431M	399.77M	368.64M	329.00M	64.50M	60.75M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($1.96)	($1.55)	($4.95)	($4.18)	($3.79)
Adjusted Weighted Average Basic & Diluted Shares Outstanding	385.82M	382.07M	386.34M	402.87M	381.33M	330.80M	81.11M	64.50M	60.75M
Normalized Net Operating Profit after Tax (NOPAT)	-2,762	-2,967	8,227	12,212	-534	-382	-289	-189	-157
Normalized NOPAT Margin	-85.34%	-43.33%	42.71%	66.12%	-66.51%	-637.00%	-214.18%	-91.61%	-144.51%
Pre Tax Income Margin	-111.46%	-57.56%	49.71%	71.92%	-92.65%	-858.33%	-284.60%	-124.38%	-198.50%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-24.46%	39.81%	7.02%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Moderna's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-35.33%	-65.64%	1.69%	-29.94%	-91.03%	-44.71%	-45.57%	-92.76%	-69.30%	-29.50%	-32.30%
EBITDA Growth	18.97%	-928.19%	97.21%	22.34%	-261.47%	-90.94%	-242.88%	-170.33%	-108.19%	-70.12%	-64.87%
EBIT Growth	17.98%	-3,763.64%	96.03%	24.99%	-210.39%	-102.10%	-278.00%	-176.13%	-109.82%	-70.98%	-67.33%
NOPAT Growth	17.06%	-4,789.25%	96.92%	27.00%	-245.90%	-98.67%	-240.94%	-160.14%	-107.01%	-71.27%	-70.07%
Net Income Growth	17.36%	-616.13%	100.36%	7.32%	-1,587.34%	-85.19%	-448.03%	-162.81%	-97.84%	-69.91%	-68.71%
EPS Growth	17.92%	-561.90%	100.31%	8.01%	-1,715.79%	-83.29%	-476.68%	-169.08%	-97.79%	-66.61%	-67.14%
Operating Cash Flow Growth	-4.85%	32.64%	2.13%	-39.24%	19.27%	-62.58%	-734.92%	-400.99%	-144.34%	-49.79%	-92.31%
Free Cash Flow Firm Growth	-418.28%	-582.27%	-37.79%	117.05%	108.82%	111.90%	69.25%	19.61%	-605.01%	-151.24%	-170.90%
Invested Capital Growth	38.75%	141.19%	182.94%	-62.35%	-50.72%	-36.54%	19.72%	320.63%	259.62%	126.37%	118.93%
Revenue Q/Q Growth	-88.82%	-48.12%	672.61%	44.31%	-94.06%	53.52%	432.27%	-81.53%	-63.38%	51.13%	-29.16%
EBITDA Q/Q Growth	16.21%	-2,319.61%	96.30%	-7.92%	-956.38%	108.16%	-2.99%	-402.27%	-121.47%	28.64%	-49.31%
EBIT Q/Q Growth	17.33%	-1,454.88%	94.10%	-8.17%	-3,793.94%	98.40%	-11.33%	-347.58%	-126.40%	35.29%	-52.38%
NOPAT Q/Q Growth	15.73%	-1,912.77%	95.46%	-7.66%	-4,864.52%	101.32%	-7.77%	-410.11%	-118.32%	39.96%	-54.01%
Net Income Q/Q Growth	13.30%	-8,715.38%	101.02%	-8.85%	-641.47%	105.98%	-163.04%	-1,846.84%	-94.61%	40.46%	-52.53%
EPS Q/Q Growth	13.40%	-9,800.00%	100.90%	-8.47%	-587.30%	106.61%	-163.26%	-2,005.26%	-94.96%	49.01%	-51.72%
Operating Cash Flow Q/Q Growth	-225.70%	152.68%	-22.92%	-28.82%	-259.00%	138.88%	-74.86%	25.31%	-173.71%	559.52%	-17.11%
Free Cash Flow Firm Q/Q Growth	27.91%	23.90%	-514.59%	39.94%	9.24%	121.74%	48.69%	27.65%	-47.44%	43.81%	-34.13%
Invested Capital Q/Q Growth	23.59%	-58.75%	273.05%	-27.05%	114.83%	-51.60%	-50.36%	-4.52%	176.63%	-8.70%	74.43%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	16.67%	23.50%	72.40%	52.28%	42.52%	66.95%	-22.39%	-112.50%	57.47%	62.27%	67.30%
EBITDA Margin	-957.41%	-127.74%	-2.74%	-571.37%	-764.07%	5.30%	-99.73%	-515.41%	-18.96%	32.34%	37.99%
Operating Margin	-972.22%	-128.99%	-3.76%	-565.56%	-758.08%	0.21%	-109.89%	-542.73%	-19.66%	31.08%	34.66%
EBIT Margin	-975.93%	-131.99%	-4.40%	-576.76%	-769.46%	-1.17%	-112.67%	-538.66%	-22.23%	30.84%	34.45%
Profit (Net Income) Margin	-899.07%	-115.94%	0.70%	-530.71%	-703.59%	7.72%	-198.25%	-401.16%	4.24%	28.82%	31.00%
Tax Burden Percent	100.73%	94.59%	61.90%	100.00%	100.86%	310.00%	185.39%	78.90%	-25.90%	88.52%	85.70%
Interest Burden Percent	91.46%	92.86%	-25.61%	92.01%	90.66%	-212.12%	94.91%	94.39%	73.67%	105.55%	105.00%
Effective Tax Rate	0.00%	0.00%	38.10%	0.00%	0.00%	-210.00%	0.00%	0.00%	0.00%	11.48%	14.30%
Return on Invested Capital (ROIC)	-1,471.33%	-298.90%	-5.22%	-1,217.94%	-1,466.60%	6.14%	-645.73%	-2,742.27%	-444.16%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-1,468.97%	-296.73%	-5.76%	-1,215.38%	-1,464.54%	4.88%	-630.55%	-2,741.81%	-446.08%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	1,280.30%	273.30%	4.73%	1,076.17%	1,292.15%	-4.66%	586.98%	2,510.12%	434.50%	0.00%	0.00%
Return on Equity (ROE)	-191.03%	-25.61%	-0.49%	-141.78%	-174.45%	1.48%	-58.75%	-232.15%	-9.67%	50.27%	83.69%
Cash Return on Invested Capital (CROIC)	-210.09%	-365.27%	-178.70%	-107.07%	-124.98%	-357.36%	-189.65%	-71.89%	20.73%	431.74%	554.24%
Operating Return on Assets (OROA)	-210.68%	-26.23%	-1.27%	-155.08%	-194.11%	-0.36%	-45.17%	-239.49%	-12.94%	23.52%	31.37%
Return on Assets (ROA)	-194.09%	-23.04%	0.20%	-142.69%	-177.49%	2.39%	-79.47%	-178.35%	2.47%	21.97%	28.23%
Return on Common Equity (ROCE)	-191.03%	-25.61%	-0.49%	-141.78%	-174.45%	1.48%	-58.75%	-232.15%	-9.67%	50.27%	83.69%
Return on Equity Simple (ROE_SIMPLE)	-33.35%	0.00%	-18.65%	-50.09%	-46.56%	0.00%	-25.76%	7.12%	25.36%	0.00%	65.39%
Net Operating Profit after Tax (NOPAT)	-735	-872	-43	-954	-886	19	-1,408	-1,307	-256	1,399	999
NOPAT Margin	-680.56%	-90.29%	-2.33%	-395.89%	-530.66%	0.66%	-76.92%	-379.91%	-13.76%	27.51%	29.71%
Net Nonoperating Expense Percent (NNEP)	-2.37%	-2.17%	0.54%	-2.56%	-2.07%	1.26%	-15.18%	-0.46%	1.92%	0.37%	0.27%
Return On Investment Capital (ROIC_SIMPLE)	-7.28%	-8.00%	-	-	-	0.13%	-	-	-	7.31%	-
Cost of Revenue to Revenue	83.33%	76.50%	27.60%	47.72%	57.49%	33.05%	122.39%	212.50%	42.53%	37.73%	32.70%
SG&A Expenses to Revenue	196.30%	36.34%	15.09%	111.20%	164.07%	16.72%	24.14%	96.51%	16.38%	7.38%	8.26%
R&D to Revenue	792.59%	116.15%	61.06%	506.64%	636.53%	50.02%	63.35%	333.72%	60.74%	23.82%	24.38%
Operating Expenses to Revenue	988.89%	152.48%	76.15%	617.84%	800.60%	66.74%	87.49%	430.23%	77.12%	31.20%	32.64%
Earnings before Interest and Taxes (EBIT)	-1,054	-1,275	-82	-1,390	-1,285	-33	-2,063	-1,853	-414	1,568	1,159
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1,034	-1,234	-51	-1,377	-1,276	149	-1,826	-1,773	-353	1,644	1,278
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.09	1.47	2.15	3.89	3.17	2.74	2.92	2.73	3.15	3.61	2.57
Price to Tangible Book Value (P/TBV)	1.09	1.47	2.15	3.89	3.17	2.74	2.92	2.73	3.15	3.61	2.57
Price to Revenue (P/Rev)	3.44	4.94	5.06	9.01	7.88	5.54	4.31	4.35	3.94	3.58	2.16
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	38.37	12.40	8.25	3.93
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.61%	8.06%	12.12%	25.43%
Enterprise Value to Invested Capital (EV/IC)	1.51	4.69	5.11	38.64	23.59	43.00	22.84	13.31	17.20	56.24	29.58
Enterprise Value to Revenue (EV/Rev)	0.81	2.00	3.37	6.87	5.64	3.60	2.96	2.98	2.85	2.64	1.37
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	39.89	8.44	5.21	2.15
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	69.03	9.05	5.42	2.21
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	41.95	9.38	6.17	2.50
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	43.27	10.20	4.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	82.97	13.03	5.34
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.05	0.00	0.04	0.00	0.04	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.05	0.00	0.04	0.00	0.04	0.00	0.00	0.00	0.00
Financial Leverage	-0.87	-0.92	-0.82	-0.89	-0.88	-0.96	-0.93	-0.92	-0.97	-1.08	-1.15
Leverage Ratio	1.29	1.32	1.39	1.31	1.29	1.34	1.45	1.37	1.44	1.52	1.67
Compound Leverage Factor	1.18	1.22	-0.36	1.21	1.17	-2.85	1.37	1.29	1.06	1.60	1.75
Debt to Total Capital	0.35%	0.00%	4.98%	0.00%	4.29%	0.00%	4.10%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.35%	0.00%	4.98%	0.00%	4.29%	0.00%	4.10%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.65%	100.00%	95.02%	100.00%	95.71%	100.00%	95.90%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	-0.01	0.00	-0.24	0.00	-0.12	0.00	-0.25	0.00	0.00	0.00	0.00
Net Debt to EBITDA	2.26	0.00	3.36	0.00	2.45	0.00	5.32	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	-0.01	0.00	-0.24	0.00	-0.12	0.00	-0.25	0.00	0.00	0.00	0.00
Debt to NOPAT	-0.01	0.00	-0.33	0.00	-0.16	0.00	-0.31	0.00	0.00	0.00	0.00
Net Debt to NOPAT	3.20	0.00	4.55	0.00	3.22	0.00	6.58	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	-0.01	0.00	-0.33	0.00	-0.16	0.00	-0.31	0.00	0.00	0.00	0.00
Altman Z-Score	3.95	4.39	5.84	8.47	7.84	6.85	5.41	7.34	8.83	8.48	5.66
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.22	3.67	4.39	4.09	4.03	3.42	2.46	3.39	3.46	2.73	2.10
Quick Ratio	3.77	3.35	3.83	3.66	3.64	3.15	2.15	2.78	2.87	2.29	1.62
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,212	-1,681	-2,209	533	381	349	-1,603	-3,125	-4,319	-2,929	-5,214
Operating Cash Flow to CapEx	-886.32%	158.05%	-1,037.09%	-700.00%	-504.59%	282.73%	-1,142.86%	-391.03%	-1,084.07%	1,806.52%	283.15%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.22	0.20	0.29	0.27	0.25	0.31	0.40	0.44	0.58	0.76	0.91
Accounts Receivable Turnover	29.55	5.18	2.96	25.57	8.24	6.01	4.00	7.29	7.03	8.45	7.33
Inventory Turnover	6.89	9.18	3.68	6.07	7.78	8.15	4.43	3.45	3.88	4.53	2.93
Fixed Asset Turnover	1.49	1.56	2.35	2.26	2.53	3.46	4.59	0.00	8.97	11.82	0.00
Accounts Payable Turnover	7.13	3.17	3.82	11.48	13.98	9.32	13.79	18.50	17.66	13.73	21.34
Days Sales Outstanding (DSO)	12.35	70.50	123.20	14.27	44.27	60.68	91.26	50.07	51.94	43.20	49.80
Days Inventory Outstanding (DIO)	52.95	39.77	99.19	60.13	46.89	44.76	82.35	105.94	94.01	80.53	124.76
Days Payable Outstanding (DPO)	51.20	115.31	95.66	31.79	26.12	39.16	26.47	19.73	20.67	26.59	17.10
Cash Conversion Cycle (CCC)	14.10	-5.05	126.73	42.61	65.05	66.28	147.15	136.28	125.28	97.15	157.46
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,708	1,382	3,350	898	1,231	573	1,184	2,385	2,498	903	989
Invested Capital Turnover	2.16	3.31	2.24	3.08	2.76	9.28	8.39	7.22	32.28	-15.28	-10.10
Increase / (Decrease) in Invested Capital	477	809	2,166	-1,487	-1,267	-330	195	1,818	4,063	4,328	6,213
Enterprise Value (EV)	2,580	6,482	17,112	34,696	29,044	24,638	27,040	31,753	42,969	50,786	29,256
Market Capitalization	10,938	16,001	25,689	45,510	40,630	37,919	39,311	46,317	59,334	69,006	46,259
Book Value per Share	$26.09	$28.33	$31.03	$30.56	$33.55	$36.34	$35.35	$44.46	$48.82	$49.78	$45.99
Tangible Book Value per Share	$26.09	$28.33	$31.03	$30.56	$33.55	$36.34	$35.35	$44.46	$48.82	$49.78	$45.99
Total Capital	10,101	10,901	12,552	11,712	13,392	13,854	14,030	16,949	18,863	19,123	17,992
Total Debt	35	0.00	625	0.00	575	0.00	575	0.00	0.00	0.00	0.00
Total Long-Term Debt	35	0.00	625	0.00	575	0.00	575	0.00	0.00	0.00	0.00
Net Debt	-8,358	-9,519	-8,577	-10,814	-11,586	-13,281	-12,271	-14,564	-16,365	-18,220	-17,003
Capital Expenditures (CapEx)	117	522	151	182	196	220	140	234	113	92	89
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-813	-1,132	598	-1,190	-1,303	-1,294	-1,159	-983	-300	-1,394	-858
Debt-free Net Working Capital (DFNWC)	5,162	5,893	7,465	7,298	7,220	7,310	6,414	7,476	8,623	8,508	7,490
Net Working Capital (NWC)	5,162	5,893	7,465	7,298	7,220	7,310	6,414	7,476	8,623	8,508	7,490
Net Nonoperating Expense (NNE)	236	248	-56	325	289	-198	2,222	73	-335	-66	-44
Net Nonoperating Obligations (NNO)	-8,358	-9,519	-8,577	-10,814	-11,586	-13,281	-12,271	-14,564	-16,365	-18,220	-17,003
Total Depreciation and Amortization (D&A)	20	41	31	13	9.00	182	237	80	61	76	119
Debt-free, Cash-free Net Working Capital to Revenue	-25.59%	-34.98%	11.77%	-23.56%	-25.29%	-18.90%	-12.71%	-9.23%	-1.99%	-7.24%	-4.01%
Debt-free Net Working Capital to Revenue	162.48%	182.11%	146.92%	144.51%	140.11%	106.75%	70.32%	70.17%	57.26%	44.17%	35.02%
Net Working Capital to Revenue	162.48%	182.11%	146.92%	144.51%	140.11%	106.75%	70.32%	70.17%	57.26%	44.17%	35.02%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($2.52)	($2.91)	$0.03	($3.33)	($3.07)	$0.62	($9.53)	($3.62)	$0.20	$3.95	$2.67
Adjusted Weighted Average Basic Shares Outstanding	386M	384M	385M	384M	382M	382M	381M	381M	386M	394M	390M
Adjusted Diluted Earnings per Share	($2.52)	($2.91)	$0.03	($3.33)	($3.07)	$0.63	($9.53)	($3.62)	$0.19	$3.77	$2.53
Adjusted Weighted Average Diluted Shares Outstanding	386M	384M	399M	384M	382M	382M	381M	381M	405M	416M	412M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	386.74M	385.82M	384.82M	384.40M	383.24M	382.07M	381.28M	380.59M	381.21M	386.34M	384.18M
Normalized Net Operating Profit after Tax (NOPAT)	-735	-872	-43	-954	-886	4.20	-1,408	-1,307	-256	1,399	999
Normalized NOPAT Margin	-680.56%	-90.29%	-2.33%	-395.89%	-530.66%	0.15%	-76.92%	-379.91%	-13.76%	27.51%	29.71%
Pre Tax Income Margin	-892.59%	-122.57%	1.13%	-530.71%	-697.60%	2.49%	-106.94%	-508.43%	-16.38%	32.55%	36.18%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.02%	-10.51%	-24.46%	-44.86%	212.26%	67.56%	39.81%	32.16%

Frequently Asked Questions About Moderna's Financials

When does Moderna's fiscal year end?

According to the most recent income statement we have on file, Moderna's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Moderna's net income changed over the last 8 years?

Moderna's net income appears to be on an upward trend, with a most recent value of -$3.56 billion in 2024, rising from -$216.21 million in 2016. The previous period was -$4.71 billion in 2023. View Moderna's forecast to see where analysts expect Moderna to go next.

What is Moderna's operating income?

Moderna's total operating income in 2024 was -$3.95 billion, based on the following breakdown:

Total Gross Profit: $1.77 billion
Total Operating Expenses: $5.72 billion

How has Moderna revenue changed over the last 8 years?

Over the last 8 years, Moderna's total revenue changed from $108.40 million in 2016 to $3.24 billion in 2024, a change of 2,885.4%.

How much debt does Moderna have?

Moderna's total liabilities were at $3.24 billion at the end of 2024, a 29.1% decrease from 2023, and a 605.8% increase since 2017.

How much cash does Moderna have?

In the past 7 years, Moderna's cash and equivalents has ranged from $0.00 in 2018 to $6.85 billion in 2021, and is currently $1.93 billion as of their latest financial filing in 2024.

How has Moderna's book value per share changed over the last 8 years?

Over the last 8 years, Moderna's book value per share changed from 0.00 in 2016 to 28.33 in 2024, a change of 2,832.8%.

Related Companies

This page (NASDAQ:MRNA) was last updated on 5/31/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Moderna (MRNA) Financials

Frequently Asked Questions About Moderna's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Moderna (MRNA) Financials

Annual Income Statements for Moderna

Quarterly Income Statements for Moderna

Annual Cash Flow Statements for Moderna

Quarterly Cash Flow Statements for Moderna

Annual Balance Sheets for Moderna

Quarterly Balance Sheets for Moderna

Annual Metrics And Ratios for Moderna

Quarterly Metrics And Ratios for Moderna

Frequently Asked Questions About Moderna's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools