Skip to content
OpenCapital
Get started
Income StatementBalance SheetCash FlowSegments
Moderna logo

Moderna Cash Flow Statement

Operating, investing, and financing cash movements

Moderna generated -$3.4B in operating cash flow over the trailing twelve months. After $137.0M in capital expenditures, free cash flow was -$3.6B. Free cash flow increased 0.2% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)-$2.1BNet Cash From Investing (TTM)$1.2BNet Cash From Financing (TTM)$607.0MCapital Expenditures (TTM)$137.0MDepreciation And Amortization Cf (TTM)$235.0MNet Change In Cash (TTM)$283.0M
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$19.7B
ROE-36.56%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$522M$117M$3M$33M$39M$62M
Payments to Acquire Intangible Assets$0$10M———$0
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$914M$1.9B$1.5B$1.2B$929M$732M
Sale of investments$957M$688M$371M$685M$609M$602M
Net cash from investing activities—$730M$564M$700M$0-$76M
Proceeds from maturities/sales of investments$957M$688M$371M$685M$609M$602M
Purchases of intangible assets$0$10M———$0
Purchases of investments$1.9B$1.8B$1.3B$1.2B$1.5B$1.3B

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable—-$156M-$47M——-$120M
Change in accounts receivable-$1.2B-$280M-$30M$1B-$859M-$114M
Change in accrued liabilities—-$381M-$14M——$464M
Change in deferred revenue-$262M-$29M$97M$40M—$5M
Change in inventories-$291M$8M$114M$91M—-$6M
Change in operating lease liabilities—-$5M-$5M-$5M-$6M-$7M
Change in other assets-$292M-$46M$196M-$66M-$237M-$54M
Change in other liabilities$141M$33M-$58M-$112M—$26M
Other working capital changes-$54M-$2M-$34M-$14M-$27M-$6M
Depreciation and amortization$60M$39M$57M$52M$67M$59M
Distributions from equity method investments-$9M-$8M——-$3M-$2M
Net cash from operating activities—-$1B-$919M-$847M—-$630M
Net income-$1.1B-$971M-$825M-$200M-$826M-$1.3B
Income Loss From Equity Method Investments Net Of Dividends Or Distributions-$9M-$8M——-$3M-$2M
Operating lease liabilities—-$5M-$5M-$5M-$6M-$7M
Increase (Decrease) in Prepaid Expense and Other Assets-$292M-$46M$196M-$66M-$237M-$54M
Increase (Decrease) In Right Of Use Asset, Operating Leases—-$9M-$10M-$9M-$10M-$11M
Investment Income Net Amortization Of Discount And Premium$19M$19M$18M$17M$13M$11M
Depreciation and amortization$60M$39M$57M$52M$67M$59M
Other Noncash Income (Expense)-$54M-$2M-$34M-$14M-$27M-$6M
Stock-based compensation$104M$115M$130M$125M$113M$104M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$0$150M$150M$150M$150M—
Finance Lease, Principal Payments, Net Of Adjustments$14M-$2M$5M$3M$12M$0
Payments Of Debt Issuance Costs$0$5.5M$5.5M$5.5M$5.5M—
Proceeds from issuance of common stock relating to employee stock plans$11M$3M$14M$2M$16M$19M
Net cash from financing activities$0$4M$9M$0$581M$17M
Payment of debt issuance costs$0$5.5M$5.5M$5.5M$5.5M—
Proceeds from issuance of common stock$11M$3M$14M$2M$16M$19M
Taxes paid for net share settlement—$1M———$2M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$0-$1.2B-$922M-$880M—-$692M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$1M$0$1M$1M$0$1M
Net increase (decrease) in cash—-$303M-$345M-$147M$1.5B-$688M
Accrued payables for capital expenditures$19M$50M——$41M$35M
Purchases of intangible asset included in accounts payable and accrued liabilities—$0———$74M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$49.3M$6.5M$6.5M$6.5M$6.5M—
Interest paid$6M$2.5M$2.5M$2.5M$2.5M—
Income Taxes Paid, Net$49.3M$6.5M$6.5M$6.5M$6.5M—