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Moderna MRNA EBITDA margin

EBITDA margin at other companies

Pfizer logo
PfizerPFE
25.3%
ALN
Alnylam PharmaceuticalsALNY
18.8%+16.9pp
Roivant Sciences logo
Roivant SciencesROIV
-9,099.5%-13,736pp
Biogen logo
BiogenBIIB
27%+0.1pp
Merck & Co. logo
Merck & Co.MRK
22.4%-12.4pp
Johnson & Johnson logo
Johnson & JohnsonJNJ
34.4%+2.7pp

Other financials

Income statement

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Revenue$389.0M+260%
Gross profit-$566.0M-3,244%
Operating income-$1.4B-32.2%
Net income-$1.3B-38.3%
EPS (diluted)-$3.40-34.9%

Balance sheet

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Cash & equivalents$1.9B+17.4%
Total debt$1.3B+71.9%
Total equity$7.4B-26.4%
Total assets$11.5B-9.6%

Cash flow

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Operating cash flow-$630.0M+39.3%
CapEx$62.0M-47.0%
Free cash flow-$692.0M+40.0%

Valuation

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Market cap$25.38B+83.8%
Enterprise value$24.8B+93.6%
P/S11.4×+7.1×

Profitability

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Gross margin22.1%-32.0pp
Operating margin-153.3%+67.8pp
Net margin-143.6%+80.2pp

Returns & leverage

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Return on equity-36.6%+11.9pp
Debt / equity0.2×+0.1×
Current ratio2.4×-1.8×

Where this comes from

Calculated from Moderna’s reported figures.

Based on trailing twelve months.

The official record: Moderna’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Moderna's EBITDA margin?
Moderna (MRNA) reported EBITDA margin of -142.8% in Q1 2026.
How has Moderna's EBITDA margin changed year-over-year?
Moderna's EBITDA margin decreased by 28.3% year-over-year, from -111.3% to -142.8%.
What is the long-term trend for Moderna's EBITDA margin?
Over 4 years (2021 to 2025), Moderna's EBITDA margin has grown at a 23.1% compound annual growth rate (CAGR), from 219.3% to -503.8%.
What does EBITDA margin mean?
Operating cash profitability per sales dollar, before interest, taxes, and non-cash charges.
How do you interpret EBITDA margin?
Useful for comparing operating profitability across firms with different depreciation policies and leverage. High EBITDA margin alongside heavy capex can still mean weak free cash flow — pair it with FCF margin.
How does EBITDA margin compare across companies?
Widely used to compare capital-intensive businesses on a like-for-like basis. Less meaningful for banks and insurers.