# Moderna Inc. (MRNA) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Healthcare / Biotechnology. Price $228.44, market value $91.2 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Moderna Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 40.9×**. Each dollar of revenue is priced at 40.9×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 13.5×**. The shares trade at 13.5× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: -1.4%** (5-yr avg -7.0%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Operating margin: -149.0%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -145.2%**. The company reported a net loss over the last twelve months.
- **Return on equity: -32.6%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -39.5%**. Return on all capital, debt included, is -39.5%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -25.5%**. Each dollar of assets produces -25.5% of profit.

## Growth
- **Revenue growth (1 yr): -39.9%** (3-yr -53.4%/yr, 5-yr 19.3%/yr). Revenue fell 39.9% over the last year, against 19.3% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 21.8%**. Earnings per share rose 21.8%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.07**. Debt is 0.07 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.6×**. It would take 0.6 years of operating earnings to repay net borrowings, within the comfortable range.
- **Current ratio: 3.29** (quick 3.29). Current assets cover the next year's liabilities 3.29 times.
- **Altman Z-score: 15.60**. A Z-score of 15.60 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Moderna Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: hold** (19 analysts). 19 analysts cover Moderna Inc.; the consensus is hold, with an average price target of $138.37 (-39% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 713.1%** (YTD 648.8%, 3-mo 300.5%). The shares are up 713.1% over twelve months including dividends.
- **From 52-week high: -10.2%** (925.3% above the low). Trading 10% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 57**. An RSI of 57 is neutral.
- **Beta (1 yr): 2.18** (volatility 194%). Beta of 2.18 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MRNA · Page: https://foliofundamentals.com/stocks/mrna

Not investment advice.