financial statements

The full income statement, balance sheet, and cash-flow statement for Moderna Inc. (MRNA), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	1.94B YoY-39.9%	3.24B YoY-52.7%	6.85B YoY-64.4%	19.3B YoY+4.3%	18.5B YoY+2200.2%
Cost of revenue	868M YoY-40.7%	1.46B YoY-68.8%	4.69B YoY-13.3%	5.42B YoY+107.0%	2.62B YoY+32612.5%
Research & development	3.13B YoY-31.1%	4.54B YoY-6.2%	4.84B YoY+47.0%	3.29B YoY+65.5%	1.99B YoY+45.3%
Selling, general & administrative	1.02B YoY-13.3%	1.17B YoY-24.2%	1.55B YoY+36.8%	1.13B YoY+99.6%	567M YoY+201.6%
General & administrative	1.02B YoY-13.3%	1.17B YoY-24.2%	1.55B YoY+36.8%	1.13B YoY+99.6%	567M YoY+201.6%
Provision for credit losses	0.00	0.00	0.00	0.00	0.00
Operating income	-3.07B YoY+22.1%	-3.94B YoY+6.9%	-4.24B YoY-145.0%	9.42B YoY-29.2%	13.3B YoY+1842.6%
Interest & investment income	314M YoY-26.1%	425M YoY+1.0%	421M YoY+110.5%	200M YoY+1011.1%	18.0M YoY-28.0%
Other non-operating income	-8.00M YoY+90.8%	-87.0M YoY+29.8%	-124M YoY-175.6%	-45.0M YoY-55.2%	-29.0M YoY-383.3%
Pre-tax income	-2.77B YoY+23.3%	-3.61B YoY+8.5%	-3.94B YoY-141.2%	9.57B YoY-27.9%	13.3B YoY+1885.6%
Income tax	54.0M YoY+217.4%	-46.0M YoY-106.0%	772M YoY-36.4%	1.21B YoY+12.0%	1.08B YoY+36000.0%
Net income	-2.82B YoY+20.8%	-3.56B YoY+24.5%	-4.71B YoY-156.4%	8.36B YoY-31.5%	12.2B YoY+1733.5%
	-$7.26 YoY+21.8%	-$9.28 YoY+24.7%	-$12.33 YoY-161.3%	$20.12 YoY-28.9%	$28.29 YoY+1543.4%
EPS (basic)	-$7.26 YoY+21.8%	-$9.28 YoY+24.7%	-$12.33 YoY-158.0%	$21.26 YoY-29.9%	$30.31 YoY+1646.4%
Weighted-avg shares (basic)	389M YoY+1.3%	384M YoY+0.5%	382M YoY-3.0%	394M YoY-2.2%	403M YoY+5.8%
Weighted-avg shares (diluted)	389M YoY+1.3%	384M YoY+0.5%	382M YoY-8.2%	416M YoY-3.5%	431M YoY+13.1%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	6.54B YoY-19.2%	8.10B YoY-21.6%	10.3B YoY-23.1%	13.4B YoY-16.4%	16.1B YoY+155.2%
Cash & equivalents	2.60B YoY+34.7%	1.93B YoY-33.7%	2.91B YoY-9.3%	3.21B YoY-53.2%	6.85B YoY+161.0%
Accounts receivable	184M YoY-48.6%	358M YoY-59.9%	892M YoY-35.6%	1.39B YoY-56.4%	3.17B YoY+128.3%
Inventory	153M YoY+30.8%	117M YoY-42.1%	202M YoY-78.7%	949M YoY-34.1%	1.44B YoY+2966.0%
Prepaid expenses	408M YoY-31.9%	599M YoY-4.5%	627M YoY-47.5%	1.20B YoY+64.1%	728M YoY+188.9%
Other current assets	45.0M YoY-22.4%	58.0M YoY-34.1%	88.0M YoY+100.0%	44.0M YoY+69.2%	26.0M YoY+136.4%
	12.3B YoY-12.8%	14.1B YoY-23.2%	18.4B YoY-28.7%	25.9B YoY+4.8%	24.7B YoY+236.2%
Property, plant & equipment	204M YoY+0.0%	204M YoY+0.0%	204M YoY+0.0%	204M YoY+0.0%	204M YoY+0.0%
Operating lease right-of-use	719M YoY-5.3%	759M YoY+6.5%	713M YoY+489.3%	121M YoY-14.8%	142M YoY+57.8%
Goodwill	52.0M YoY+0.0%	52.0M YoY+0.0%	52.0M	0.00	—
Intangible assets	45.0M YoY+12.5%	40.0M YoY-9.1%	44.0M	0.00	—
Deferred tax assets	81.0M YoY+0.0%	81.0M YoY+0.0%	81.0M YoY-91.8%	982M YoY+201.2%	326M
Other non-current assets	605M YoY+1.9%	594M YoY-22.5%	766M YoY-22.5%	988M YoY+2047.8%	46.0M YoY+2200.0%
	1.99B YoY-9.9%	2.21B YoY-26.8%	3.02B YoY-38.8%	4.92B YoY-46.1%	9.13B YoY+108.0%
Accounts payable	317M YoY-21.7%	405M YoY-22.1%	520M YoY+6.8%	487M YoY+61.3%	302M YoY+1577.8%
Accrued liabilities	1.39B YoY-2.9%	1.43B YoY-20.6%	1.80B YoY-14.4%	2.10B YoY+42.7%	1.47B YoY+213.2%
Deferred revenue	99.0M YoY-35.3%	153M YoY-73.1%	568M YoY-72.1%	2.04B YoY-67.4%	6.25B YoY+61.7%
Current lease liability	17.0M YoY+21.4%	14.0M YoY-44.0%	25.0M YoY-28.6%	35.0M YoY-23.9%	46.0M YoY+666.7%
Other current liabilities	185M YoY-16.3%	221M YoY+71.3%	129M YoY-48.2%	249M YoY+10.7%	225M YoY+561.8%
	3.69B YoY+13.8%	3.24B YoY-29.1%	4.57B YoY-32.1%	6.74B YoY-36.0%	10.5B YoY+120.4%
Long-term debt	590M	0.00	—	—	—
Deferred revenue (non-current)	153M YoY+163.8%	58.0M YoY-30.1%	83.0M YoY-87.7%	673M YoY+9.4%	615M YoY+247.5%
Non-current lease liability	653M YoY-2.7%	671M YoY+4.4%	643M YoY+598.9%	92.0M YoY-13.2%	106M YoY+9.3%
Deferred tax liabilities	249M YoY+7.8%	231M YoY-1.7%	235M	—	—
Other non-current liabilities	285M YoY+6.7%	267M YoY+4.3%	256M YoY+89.6%	135M YoY+77.6%	76.0M YoY+2433.3%
	8.65B YoY-20.6%	10.9B YoY-21.3%	13.9B YoY-27.6%	19.1B YoY+35.2%	14.1B YoY+452.3%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	0.00	0.00	0.00	0.00	0.00
Additional paid-in capital	1.38B YoY+59.6%	866M YoY+133.4%	371M YoY-68.4%	1.17B YoY-72.1%	4.21B YoY-12.3%
Retained earnings	7.22B YoY-28.1%	10.0B YoY-26.2%	13.6B YoY-25.7%	18.3B YoY+84.0%	9.96B YoY+543.8%
Accumulated other comprehensive income	45.0M YoY+550.0%	-10.0M YoY+91.9%	-123M YoY+66.8%	-370M YoY-1441.7%	-24.0M YoY-900.0%
Total liabilities & equity	12.3B YoY-12.8%	14.1B YoY-23.2%	18.4B YoY-28.7%	25.9B YoY+4.8%	24.7B YoY+236.2%
Common shares issued	394M YoY+2.1%	386M YoY+1.0%	382M YoY-0.8%	385M YoY-4.5%	403M YoY+1.0%
Common shares outstanding	394M YoY+2.1%	386M YoY+1.0%	382M YoY-0.8%	385M YoY-4.5%	403M YoY+1.0%
Shares outstanding (cover)	391M YoY+1.5%	385M YoY+0.9%	381M YoY-0.8%	384M YoY-5.2%	405M YoY+2.5%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	-1.87B YoY+37.6%	-3.00B YoY+3.7%	-3.12B YoY-162.6%	4.98B YoY-63.4%	13.6B YoY+571.9%
Depreciation & amortization	211M YoY+14.1%	185M YoY-70.0%	617M YoY+77.3%	348M YoY+50.0%	232M YoY+648.4%
Share-based compensation	483M YoY+12.6%	429M YoY+40.7%	305M YoY+35.0%	226M YoY+59.2%	142M YoY+52.7%
Deferred income taxes	10.0M YoY+1100.0%	-1.00M YoY-100.1%	901M YoY+255.9%	-578M YoY-95.3%	-296M
Change in receivables	-156M YoY+70.8%	-534M YoY-8.3%	-493M YoY+72.5%	-1.79B YoY-200.3%	1.78B YoY+28.8%
Change in inventory	34.0M YoY+141.0%	-83.0M YoY+88.9%	-747M YoY-51.8%	-492M YoY-135.3%	1.39B YoY+2866.0%
Change in payables	-92.0M YoY-33.3%	-69.0M YoY-630.8%	13.0M YoY-94.6%	240M YoY+17.6%	204M YoY+1600.0%
	1.95B YoY-0.2%	1.95B YoY-53.7%	4.21B YoY+181.3%	-5.18B YoY+39.3%	-8.52B YoY-409.7%
Capital expenditure	192M YoY-81.7%	1.05B YoY+48.7%	707M YoY+76.8%	400M YoY+40.8%	284M YoY+317.6%
Acquisitions	0.00	0.00 YoY-100.0%	85.0M	0.00	0.00
Sales/maturities of investments	5.56B YoY+0.0%	5.56B YoY-0.2%	5.58B YoY+76.9%	3.15B YoY+135.5%	1.34B YoY+17.7%
	593M YoY+958.9%	56.0M YoY+104.1%	-1.38B YoY+60.1%	-3.45B YoY-295.0%	-873M YoY-142.9%
Common stock issued	—	—	—	0.00	0.00 YoY-100.0%
Common stock repurchased	2.00M	0.00 YoY-100.0%	1.15B YoY-65.4%	3.33B YoY+288.4%	857M
Net change in cash	668M YoY+166.9%	-999M YoY-245.7%	-289M YoY+92.1%	-3.64B YoY-186.2%	4.22B YoY+76.9%
Interest paid	10.0M YoY-58.3%	24.0M YoY-38.5%	39.0M YoY+56.0%	25.0M YoY+78.6%	14.0M YoY+55.6%
Income taxes paid	26.0M YoY-86.8%	197M YoY+155.2%	-357M YoY-113.1%	2.73B YoY+468.5%	480M YoY+47900.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	11.5B YoY-28.0%	16.0B YoY-57.8%	37.9B YoY-45.1%	69.0B YoY-33.0%	103B YoY+149.1%
P/E	—	—	—	6.0× YoY-29.2%	8.4×
P/S	5.9× YoY+19.9%	4.9× YoY+19.2%	4.1× YoY+26.3%	3.3× YoY-41.1%	5.6× YoY-89.2%
P/B	1.3× YoY-9.3%	1.5× YoY-47.8%	2.8× YoY-28.0%	3.9× YoY-46.4%	7.3× YoY-54.9%
P/FCF	—	—	—	11.3× YoY+46.8%	7.7× YoY-63.4%
Earnings yield	—	—	—	16.7% YoY+41.3%	11.8%
FCF yield	—	—	—	8.8% YoY-31.9%	13.0% YoY+173.3%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MRNA's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MRNA filings on SEC EDGAR → Not investment advice.

MRNA▼ financial statements

About this data

financial statements