What are Moderna's profit margins?

Moderna (MRNA) runs a 22.1% gross margin and a -153.3% operating margin, with a -143.6% net margin.

Where do Moderna's ratios come from?

Every ratio is computed from Moderna's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Moderna MRNA Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	178.2%-32.0pp	210.2%+0.6pp	209.6%-19.2pp	228.8%+19.5pp	209.4%+31.7pp
Operating margin	-573%-36.0pp	-537%-36.2pp	-500.8%-102pp	-398.7%-14.4pp	-384.3%-17.5pp
Net margin	-522.6%-37.9pp	-484.8%-35.1pp	-449.6%-91.6pp	-358.1%+26.2pp	-384.2%+14.4pp
Returns
Return on equity	-122.2%-7.2pp	-115%-0.1pp	-114.9%-10.1pp	-104.8%+15.0pp	-119.8%+9.7pp
Return on invested capital	-145.8%-7.4pp	-138.4%+0.1pp	-138.5%-10.9pp	-127.7%+3.4pp	-131.1%+0.7pp
Efficiency
Asset turnover	0.7×0.0×	0.7×-0.1×	0.8×-0.1×	0.9×0.0×	1×0.0×
Liquidity
Current ratio	13.6×-1.8×	15.4×-0.4×	15.7×-0.5×	16.2×-0.2×	16.4×+0.2×
Leverage
Debt-to-equity	0.5×+0.1×	0.4×+0.1×	0.3×0.0×	0.3×0.0×	0.4×0.0×
Per Share
Book value per share	$89.14-7.6%	$96.46-6.0%	$102.61-5.5%	$108.58-5.5%	$114.86-6.1%
Valuation
Market capitalization	$52.08B+21.4%	$42.9B-9.5%	$47.38B-24.8%	$63.02B-35.8%	$98.16B-23.3%
Price / sales	22.9×+5.6×	17.2×+1.0×	16.3×-0.6×	16.8×-5.6×	22.5×-4.5×
Price / book	6.2×+1.6×	4.6×-0.1×	4.7×-1.1×	5.8×-2.8×	8.6×-2.1×

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Ask your AI about Moderna.

Connect your AI assistant and get a quick read on the numbers, right in your chat.

Connect your AI

Claude

Questions, answered.

What are Moderna's profit margins?: Moderna (MRNA) runs a 22.1% gross margin and a -153.3% operating margin, with a -143.6% net margin.
Where do Moderna's ratios come from?: Every ratio is computed from Moderna's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.