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Moderna MRNA Return on invested capital

Return on invested capital at other companies

Pfizer logo
PfizerPFE
6%
Ultragenyx Pharmaceutical logo
Ultragenyx PharmaceuticalRARE
-475.4%+443pp
Roivant Sciences logo
Roivant SciencesROIV
-25.6%
Vaxcyte, Inc. logo
Vaxcyte, Inc.PCVX
-37.6%+14.8pp
Viridian Therapeutics, Inc. logo
Viridian Therapeutics, Inc.VRDN
-78.5%-6.2pp
Gilead Sciences logo
Gilead SciencesGILD
-6.7%-24.7pp

Other financials

Income statement

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Revenue$145.0M+2.1%
Gross profit$52.0M+126%
Operating income-$815.0M+10.1%
Net income-$782.0M+5.2%
EPS (diluted)-$1.97+7.5%

Balance sheet

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Cash & equivalents$1.7B+34.5%
Total debt$1.2B+60.8%
Total equity$6.8B-28.1%
Total assets$11.0B-8.7%

Cash flow

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Operating cash flow-$526.0M+42.8%
CapEx$37.0M+1,133%
Free cash flow-$563.0M+38.9%

Valuation

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Market cap$22.46B+116%
Enterprise value$21.97B+122%
P/S10.1×+6.7×

Profitability

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Gross margin23.4%-29.1pp
Operating margin-149%+99.9pp
Net margin-141.4%+141pp
FCF margin-132.4%

Returns & leverage

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Return on equity-39%+28.0pp
Debt / equity0.2×+0.1×
Current ratio2.3×-1.6×

Where this comes from

Calculated from Moderna’s reported figures.

Based on trailing twelve months.

The source filing: Moderna’s 8-K, filed July 31, 2026. Open the filing →

Filed
Jul 31, 2026, 7:03 AM EDT
Accession
0001682852-26-000147

FAQ

What is Moderna's return on invested capital?
Moderna (MRNA) reported return on invested capital of -43.8% in Q2 2026.
How has Moderna's return on invested capital changed year-over-year?
Moderna's return on invested capital decreased by 29.7% year-over-year, from -33.8% to -43.8%.
What is the long-term trend for Moderna's return on invested capital?
Over 5 years (2020 to 2025), Moderna's return on invested capital has grown at a -21.7% compound annual growth rate (CAGR), from -122.1% to -35.9%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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