Free cash flow
Moderna Free cash flow increased by 21.4% to -$692.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 40.0%, from -$1.15B to -$692.00M. Over 2 years (FY 2021 to FY 2024), Free cash flow shows a downward trend with a -42.8% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests improved operational efficiency or reduced capital intensity, providing more flexibility for capital allocation. A decrease may indicate higher investment in R&D or infrastructure, or potential challenges in converting earnings into cash.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
Large-cap medical device and pharmaceutical peers typically maintain strong, positive free cash flow, though levels vary based on the intensity of R&D spending and the lifecycle stage of major product lines.
free_cash_flowHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $4.03B | $3.18B | $3.19B | $2.63B | $217.00M | $163.00M | $1.57B | -$1.34B | -$1.15B | -$1.74B | -$1.19B | -$1.46B | -$1.72B | $0.00 | -$1.15B | -$922.00M | -$880.00M | -$692.00M |
| QoQ Change | — | -21.2% | +0.4% | -17.5% | -91.8% | -24.9% | +863.2% | -185.2% | +14.1% | -51.4% | +31.9% | -22.9% | -17.9% | +100.0% | — | +20.1% | +4.6% | +21.4% |
| YoY Change | — | — | — | — | -94.6% | -94.9% | -50.8% | -150.9% | -629.5% | <-999% | +11.4% | -26.7% | +1.3% | — | +2.6% | +36.7% | +48.7% | +40.0% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Moderna's free cash flow?
- Moderna (MRNA) reported free cash flow of -$692.00M in Q1 2026.
- How has Moderna's free cash flow changed year-over-year?
- Moderna's free cash flow increased by 40.0% year-over-year, from -$1.15B to -$692.00M.
- What is the long-term trend for Moderna's free cash flow?
- Over 2 years (2021 to 2024), Moderna's free cash flow has grown at a -42.8% compound annual growth rate (CAGR), from $13.34B to -$4.36B.
- What does free cash flow mean?
- The cash remaining after a company pays for its operating expenses and capital investments.