MRNA - Moderna, Inc.
Price:
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--
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CONSENSUS:
Hold
DETAILS
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PRICE TARGET:
$40.29
DETAILS
HIGH:
$49.00
LOW:
$33.00
MEDIAN:
$38.00
CONSENSUS:
$40.29
DOWNSIDE:
15.48%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 1,944 | 3,199 | 6,848 | 18,875 | 17,736 | 803.4 | 60.2 | 135.1 | 205.8 | 108.4 |
| Cost of Revenue | 868 | 1,464 | 4,693 | 5,416 | 2,617 | 39.2 | 31.0 | 24.9 | 20.5 | 15.1 |
| Gross Profit | 1,076 | 1,735 | 2,155 | 13,459 | 15,119 | 764.2 | 29.2 | 110.2 | 185.3 | 93.3 |
| Operating Expenses | ||||||||||
| R&D Expenses | 3,132 | 4,543 | 4,845 | 3,295 | 1,991 | 1,370.3 | 496.3 | 454.1 | 410.5 | 274.7 |
| SG&A Expenses | 1,018 | 1,174 | 1,549 | 1,132 | 567 | 188.3 | 109.6 | 94.3 | 64.7 | 57.5 |
| Other Expenses | 0 | (37) | 0 | (388) | (735) | (31.3) | (31.0) | (454.1) | (20.5) | (15.1) |
| Operating Expenses | 4,150 | 5,680 | 6,394 | 4,039 | 1,823 | 1,527.4 | 574.9 | 94.3 | 454.6 | 317.1 |
| Operating Income | ||||||||||
| Operating Income | (3,074) | (3,945) | (4,239) | 9,420 | 13,296 | (763.1) | (545.7) | (468.9) | (269.4) | (223.8) |
| Interest Expense | 0 | 24 | 38 | 29 | 18 | 9.9 | 6.6 | 3.1 | 0.1 | 0 |
| Interest Income | 314 | 425 | 421 | 200 | 18 | 24.7 | 38.5 | 27.0 | 15.2 | 11.3 |
| Profitability | ||||||||||
| EBITDA | (2,553) | (3,394) | (3,283) | 9,768 | 13,528 | (703.4) | (477.1) | (412.1) | (235.3) | (208.7) |
| EBIT | (2,768) | (3,583) | (3,904) | 9,420 | 13,296 | (734.6) | (508.1) | (436.9) | (255.9) | (223.8) |
| Income Before Tax | (2,768) | (3,607) | (3,942) | 9,575 | 13,285 | (744.5) | (514.7) | (440.0) | (256.0) | (215.2) |
| Income Tax Expense | 54 | (46) | 772 | 1,213 | 1,083 | 2.6 | (0.7) | 0.3 | (0.1) | 1.0 |
| Net Income | (2,822) | (3,561) | (4,714) | 8,362 | 12,202 | (747.1) | (514.0) | (384.7) | (255.9) | (216.2) |
| Per Share Data | ||||||||||
| EPS (Basic) | -7.26 | -9.27 | -12.34 | 21.26 | 30.31 | -1.96 | -1.55 | -1.17 | -0.72 | -3.79 |
| EPS (Diluted) | -7.26 | -9.27 | -12.34 | 20.10 | 28.29 | -1.96 | -1.55 | -1.17 | -0.72 | -3.79 |
| Shares Outstanding | 389 | 384 | 382 | 394 | 403 | 381.3 | 330.8 | 328.8 | 376 | 64.1 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 2,595 | 1,927 | 2,907 | 3,205 | 6,848 | 2,624 | 235.9 | 658.4 | 134.9 | 50.1 |
| Short-Term Investments | 3,204 | 5,098 | 5,697 | 6,697 | 3,879 | 1,984 | 867.1 | 863.1 | 621.2 | 1,008.1 |
| Net Receivables | 184 | 592 | 1,081 | 1,685 | 3,323 | 1,408 | 16.3 | 30.6 | 18.4 | 18.0 |
| Inventory | 153 | 117 | 202 | 949 | 1,441 | 47 | 0 | 0 | 0 | 0 |
| Other Current Assets | 408 | 58 | 88 | 44 | 26 | 11 | 1.0 | 0.6 | 1.0 | 0 |
| Total Current Assets | 6,544 | 8,099 | 10,325 | 13,431 | 16,071 | 6,298 | 1,128.8 | 1,563.0 | 783.2 | 1,087.2 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 2,853 | 2,955 | 2,658 | 2,139 | 1,383 | 387 | 287.9 | 212.0 | 139.0 | 81.2 |
| Goodwill | 0 | 52 | 52 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 40 | 44 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 2,336 | 2,508 | 4,743 | 8,360 | 6,843 | 639 | 160.0 | 173.0 | 145.9 | 236.6 |
| Other Non-Current Assets | 605 | 407 | 523 | 946 | 46 | 13 | 12.7 | 14.2 | 16.4 | 12.2 |
| Total Non-Current Assets | 5,794 | 6,043 | 8,101 | 12,427 | 8,598 | 1,039 | 460.6 | 399.1 | 301.3 | 330.0 |
| Total Assets | 12,338 | 14,142 | 18,426 | 25,858 | 24,669 | 7,337 | 1,589.4 | 1,962.1 | 1,084.5 | 1,417.2 |
| Current Liabilities | ||||||||||
| Account Payables | 317 | 405 | 520 | 487 | 302 | 18 | 7.1 | 31.2 | 20.7 | 28.2 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 99 | 153 | 568 | 2,038 | 6,253 | 3,867 | 63.3 | 109.1 | 96.7 | 107.7 |
| Other Current Liabilities | 1,571 | 863 | 842 | 243 | 140 | 99 | 32.5 | 26.9 | 19.5 | 13.5 |
| Total Current Liabilities | 1,987 | 2,206 | 3,015 | 4,923 | 9,128 | 4,389 | 143.1 | 222.8 | 191.5 | 162.8 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 1,243 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | (368) | 267 | 256 | 135 | 76 | 3 | 0.1 | 10.3 | 9.1 | 5.8 |
| Total Non-Current Liabilities | 1,701 | 1,035 | 1,557 | 1,812 | 1,396 | 387 | 271.5 | 209.1 | 267.7 | 412.5 |
| Total Liabilities | 3,688 | 3,241 | 4,572 | 6,735 | 10,524 | 4,776 | 414.6 | 431.9 | 459.2 | 575.3 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | 7,223 | 10,045 | 13,606 | 18,320 | 9,958 | (2,244) | (1,496.5) | (1,006.6) | (621.9) | (365.7) |
| Accumulated Other Comprehensive Income | 45 | (10) | (123) | (370) | (24) | 3 | 1.8 | (1.3) | (1.2) | (0.4) |
| Total Stockholders' Equity | 8,650 | 10,901 | 13,854 | 19,123 | 14,145 | 2,561 | 1,174.8 | 1,530.2 | 625.3 | 841.9 |
| Total Liabilities & Equity | 12,338 | 14,142 | 18,426 | 25,858 | 24,669 | 7,337 | 1,589.4 | 1,962.1 | 1,084.5 | 1,417.2 |
| Debt Metrics | ||||||||||
| Total Debt | 1,916 | 747 | 1,243 | 1,200 | 916 | 237 | 132.4 | 33.5 | 15.7 | 12.5 |
| Net Debt | (679) | (1,180) | (1,664) | (2,005) | (5,932) | (2,387) | (103.5) | (624.9) | (119.2) | (37.6) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | (2,822) | (3,561) | (4,714) | 8,362 | 12,202 | (747.1) | (514.0) | (384.7) | (255.9) | (216.2) |
| Depreciation & Amortization | 215 | 189 | 621 | 348 | 232 | 93 | 31.0 | 24.9 | 20.5 | 15.1 |
| Stock-Based Compensation | 483 | 429 | 305 | 226 | 142 | 93 | 81.1 | 72.6 | 40.1 | 39.4 |
| Change in Working Capital | 254 | (78) | (139) | (3,455) | 1,308 | 2,577.1 | (53.7) | (42.6) | (137.2) | 226.0 |
| Other Non-Cash Items | (3) | 17 | (19) | 59 | 54 | 0.6 | (3.4) | (1.0) | 1.1 | 2.2 |
| Operating Cash Flow | (1,873) | (3,004) | (3,118) | 4,981 | 13,620 | 2,027.0 | (459.0) | (330.9) | (331.5) | 66.7 |
| Investing Activities | ||||||||||
| Capital Expenditure | (192) | (1,051) | (707) | (400) | (284) | (67.4) | (31.6) | (105.8) | (58.4) | (33.1) |
| Acquisitions | 0 | 0 | (85) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (5,768) | (6,529) | (3,783) | (11,435) | (12,652) | (2,956.3) | (1,145.2) | (1,227.7) | (727.2) | (1,415.5) |
| Sales/Maturities of Investments | 7,916 | 9,529 | 8,781 | 6,699 | 4,443 | 1,351.8 | 1,161.8 | 960.4 | 1,203.0 | 808.9 |
| Other Investing Activities | (10) | 0 | 0 | (40) | (30) | 0 | 0 | 0.6 | (1.3) | (8.9) |
| Investing Cash Flow | 1,946 | 1,949 | 4,206 | (5,176) | (8,523) | (1,671.9) | (14.9) | (372.5) | 416.1 | (648.6) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 539 | (10) | (270) | (184) | (140) | (6) | 1 | 9.5 | 1.4 | 0 |
| Stock Repurchased | 0 | 0 | (1,153) | (3,329) | (857) | 0 | 2.9 | (8.2) | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1.5) | (0.6) |
| Other Financing Activities | 19 | 0 | 0 | 0 | 0 | 0.2 | (0.0) | 0 | 0 | 0.0 |
| Financing Cash Flow | 593 | 56 | (1,377) | (3,448) | (873) | 2,033.2 | 51.1 | 1,226.8 | 0.2 | 472.9 |
| Cash Position | ||||||||||
| Net Change in Cash | 668 | (999) | (289) | (3,643) | 4,224 | 2,388.2 | (422.8) | 523.5 | 84.8 | (109.0) |
| Cash at Beginning | 1,929 | 2,928 | 3,217 | 6,860 | 2,636 | 247.7 | 670.5 | 134.9 | 50.1 | 159.0 |
| Cash at End | 2,597 | 1,929 | 2,928 | 3,217 | 6,860 | 2,635.9 | 247.7 | 658.4 | 134.9 | 50.1 |
| Free Cash Flow | (2,065) | (4,055) | (3,825) | 4,581 | 13,336 | 1,959.5 | (490.5) | (436.6) | (389.9) | 33.6 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 1,944 | 3,199 | 6,848 | 18,875 | 17,736 | 803.4 | 60.2 | 135.1 | 205.8 | 108.4 |
| Gross Profit | 1,076 | 1,735 | 2,155 | 13,459 | 15,119 | 764.2 | 29.2 | 110.2 | 185.3 | 93.3 |
| Operating Income | (3,074) | (3,945) | (4,239) | 9,420 | 13,296 | (763.1) | (545.7) | (468.9) | (269.4) | (223.8) |
| Net Income | (2,822) | (3,561) | (4,714) | 8,362 | 12,202 | (747.1) | (514.0) | (384.7) | (255.9) | (216.2) |
| EPS (Diluted) | -7.26 | -9.27 | -12.34 | 20.10 | 28.29 | -1.96 | -1.55 | -1.17 | -0.72 | -3.79 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 2,595 | 1,927 | 2,907 | 3,205 | 6,848 | 2,624 | 235.9 | 658.4 | 134.9 | 50.1 |
| Total Assets | 12,338 | 14,142 | 18,426 | 25,858 | 24,669 | 7,337 | 1,589.4 | 1,962.1 | 1,084.5 | 1,417.2 |
| Total Debt | 1,916 | 747 | 1,243 | 1,200 | 916 | 237 | 132.4 | 33.5 | 15.7 | 12.5 |
| Stockholders' Equity | 8,650 | 10,901 | 13,854 | 19,123 | 14,145 | 2,561 | 1,174.8 | 1,530.2 | 625.3 | 841.9 |
| Cash Flow | ||||||||||
| Operating Cash Flow | (1,873) | (3,004) | (3,118) | 4,981 | 13,620 | 2,027.0 | (459.0) | (330.9) | (331.5) | 66.7 |
| Capital Expenditure | (192) | (1,051) | (707) | (400) | (284) | (67.4) | (31.6) | (105.8) | (58.4) | (33.1) |
| Free Cash Flow | (2,065) | (4,055) | (3,825) | 4,581 | 13,336 | 1,959.5 | (490.5) | (436.6) | (389.9) | 33.6 |