MRNA Fundamental Analysis - MODERNA INC

Fundamental Rating

Taking everything into account, MRNA scores 3 out of 10 in our fundamental rating. MRNA was compared to 530 industry peers in the Biotechnology industry. While MRNA seems to be doing ok healthwise, there are quite some concerns on its profitability. MRNA is quite expensive at the moment. It does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year MRNA has reported negative net income.

MRNA had a negative operating cash flow in the past year.

In multiple years MRNA reported negative net income over the last 5 years.

In multiple years MRNA reported negative operating cash flow during the last 5 years.

1.2 Ratios

MRNA has a Return On Assets of -25.68%. This is in the better half of the industry: MRNA outperforms 71.32% of its industry peers.

MRNA has a Return On Equity of -33.40%. This is in the better half of the industry: MRNA outperforms 73.58% of its industry peers.

		Industry Rank	Sector Rank
ROA	-25.68%
ROE	-33.4%
ROIC	N/A

ROA(3y)-6.14%

ROA(5y)4.17%

ROE(3y)-7.66%

ROE(5y)6.83%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

MRNA has a better Gross Margin (63.49%) than 79.25% of its industry peers.

In the last couple of years the Gross Margin of MRNA has declined.

MRNA does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	63.49%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-6.55%

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

MRNA does not have a ROIC to compare to the WACC, probably because it is not profitable.

MRNA has more shares outstanding than it did 1 year ago.

The number of shares outstanding for MRNA has been increased compared to 5 years ago.

The debt/assets ratio for MRNA has been reduced compared to a year ago.

2.2 Solvency

An Altman-Z score of 3.21 indicates that MRNA is not in any danger for bankruptcy at the moment.

Looking at the Altman-Z score, with a value of 3.21, MRNA is in the better half of the industry, outperforming 69.25% of the companies in the same industry.

A Debt/Equity ratio of 0.00 indicates that MRNA is not too dependend on debt financing.

Looking at the Debt to Equity ratio, with a value of 0.00, MRNA is in line with its industry, outperforming 48.87% of the companies in the same industry.

		Industry Rank	Sector Rank
Debt/Equity	0
Debt/FCF	N/A
Altman-Z	3.21

ROIC/WACCN/A

WACC8.74%

2.3 Liquidity

A Current Ratio of 3.93 indicates that MRNA has no problem at all paying its short term obligations.

The Current ratio of MRNA (3.93) is comparable to the rest of the industry.

A Quick Ratio of 3.73 indicates that MRNA has no problem at all paying its short term obligations.

The Quick ratio of MRNA (3.73) is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Current Ratio	3.93
Quick Ratio	3.73

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

MRNA shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -38.66%.

Looking at the last year, MRNA shows a very negative growth in Revenue. The Revenue has decreased by -56.07% in the last year.

Measured over the past years, MRNA shows a very strong growth in Revenue. The Revenue has been growing by 122.01% on average per year.

EPS 1Y (TTM)-38.66%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-1800%

Revenue 1Y (TTM)-56.07%

Revenue growth 3Y-44.04%

Revenue growth 5Y122.01%

Sales Q2Q%-45.44%

3.2 Future

MRNA is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 16.53% yearly.

MRNA is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 11.90% yearly.

EPS Next Y11.47%

EPS Next 2Y11.1%

EPS Next 3Y13.46%

EPS Next 5Y16.53%

Revenue Next Year-40.97%

Revenue Next 2Y-22.34%

Revenue Next 3Y-11.19%

Revenue Next 5Y11.9%

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for MRNA. In the last year negative earnings were reported.

Also next year MRNA is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

A more expensive valuation may be justified as MRNA's earnings are expected to grow with 13.46% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y11.1%

EPS Next 3Y13.46%

More info and screens

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5. Dividend

5.1 Amount

MRNA does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	0%

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MODERNA INC

NASDAQ:MRNA (12/31/2025, 8:17:38 PM)

Premarket: 29.97 +0.48 (+1.63%)

29.49

-0.92 (-3.03%)

Chartmill FA Rating

GICS SectorHealth Care

GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences

GICS IndustryBiotechnology

Earnings (Last)11-06 2025-11-06/bmo

Earnings (Next)02-12 2026-02-12/amc

Inst Owners71.57%

Inst Owner Change-4.66%

Ins Owners2.54%

Ins Owner Change1.47%

Market Cap11.52B

Revenue(TTM)2.23B

Net Income(TTM)-3.12B

Analysts55.86

Price Target37.59 (27.47%)

Short Float %19.22%

Short Ratio6.33

Dividend

		Industry Rank	Sector Rank
Dividend Yield	0%

Yearly DividendN/A

Dividend Growth(5Y)N/A

DPN/A

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)2

Avg EPS beat(2)52.94%

Min EPS beat(2)29.6%

Max EPS beat(2)76.27%

EPS beat(4)3

Avg EPS beat(4)30.21%

Min EPS beat(4)-6.26%

Max EPS beat(4)76.27%

EPS beat(8)7

Avg EPS beat(8)49.68%

EPS beat(12)9

Avg EPS beat(12)9.25%

EPS beat(16)12

Avg EPS beat(16)10.78%

Revenue beat(2)2

Avg Revenue beat(2)17.81%

Min Revenue beat(2)12.36%

Max Revenue beat(2)23.26%

Revenue beat(4)3

Avg Revenue beat(4)8.94%

Min Revenue beat(4)-0.3%

Max Revenue beat(4)23.26%

Revenue beat(8)7

Avg Revenue beat(8)29.87%

Revenue beat(12)10

Avg Revenue beat(12)27.21%

Revenue beat(16)13

Avg Revenue beat(16)22.97%

PT rev (1m)-9.5%

PT rev (3m)-20.65%

EPS NQ rev (1m)0.34%

EPS NQ rev (3m)8.6%

EPS NY rev (1m)17.49%

EPS NY rev (3m)17.66%

Revenue NQ rev (1m)0.88%

Revenue NQ rev (3m)-11.02%

Revenue NY rev (1m)0.05%

Revenue NY rev (3m)-1.02%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	5.16
P/FCF	N/A
P/OCF	N/A
P/B	1.23
P/tB	1.25
EV/EBITDA	N/A

EPS(TTM)-8.07

EYN/A

EPS(NY)-7.11

Fwd EYN/A

FCF(TTM)-6.82

FCFYN/A

OCF(TTM)-5.06

OCFYN/A

SpS5.71

BVpS23.88

TBVpS23.63

PEG (NY)N/A

PEG (5Y)N/A

Graham NumberN/A

Profitability

		Industry Rank	Sector Rank
ROA	-25.68%
ROE	-33.4%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	63.49%
FCFM	N/A

ROA(3y)-6.14%

ROA(5y)4.17%

ROE(3y)-7.66%

ROE(5y)6.83%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexgc growth 3YN/A

ROICexgc growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-6.55%

GM growth 5YN/A

F-Score2

Asset Turnover0.18

Health

		Industry Rank	Sector Rank
Debt/Equity	0
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	329.33%
Cap/Sales	30.69%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	3.93
Quick Ratio	3.73
Altman-Z	3.21

F-Score2

WACC8.74%

ROIC/WACCN/A

Cap/Depr(3y)261.63%

Cap/Depr(5y)224.68%

Cap/Sales(3y)14.96%

Cap/Sales(5y)10.95%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-38.66%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-1800%

EPS Next Y11.47%

EPS Next 2Y11.1%

EPS Next 3Y13.46%

EPS Next 5Y16.53%

Revenue 1Y (TTM)-56.07%

Revenue growth 3Y-44.04%

Revenue growth 5Y122.01%

Sales Q2Q%-45.44%

Revenue Next Year-40.97%

Revenue Next 2Y-22.34%

Revenue Next 3Y-11.19%

Revenue Next 5Y11.9%

EBIT growth 1Y-46.28%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year19.1%

EBIT Next 3Y15.77%

EBIT Next 5Y17.94%

FCF growth 1Y-0.23%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y4.81%

OCF growth 3YN/A

OCF growth 5YN/A

MODERNA INC / MRNA FAQ

What is the fundamental rating for MRNA stock?

ChartMill assigns a fundamental rating of 3 / 10 to MRNA.

What is the valuation status for MRNA stock?

ChartMill assigns a valuation rating of 0 / 10 to MODERNA INC (MRNA). This can be considered as Overvalued.

How profitable is MODERNA INC (MRNA) stock?

MODERNA INC (MRNA) has a profitability rating of 2 / 10.

MODERNA INC (MRNA) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

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MODERNA INC / MRNA FAQ

What is the fundamental rating for MRNA stock?

What is the valuation status for MRNA stock?

How profitable is MODERNA INC (MRNA) stock?