Moderna, Inc.(MRNA) - Stock detail

Moderna, Inc.

US
MRNA
Moderna, Inc.(Listing date: 12/07/2018)

Moderna, Inc. was incorporated under Delaware law on July 22, 2016. The company is a leader in the field of messenger ribonucleic acid (mRNA) medicine. Through more than a decade of work at the intersection of science, technology, and health, the company has developed drugs with unprecedented speed and efficiency, including one of the earliest and most effective COVID-19 vaccines. The company's mRNA platform has enabled the development of therapies and vaccines for infectious diseases, immuno-oncology, rare diseases, and autoimmune diseases. With a unique culture and a global team driven by Moderna's values and mindset, the company strives to transform the future of human health in a responsible manner and to deliver the greatest possible impact to people through mRNA medicines.

AI Value AnalystHold
Overall Rating3.3/10
Generated at:2026-06-11 17:41:35
Analysis based on real data from 5 financial reports: 2026-03-31, 2025-12-31, 2025-09-30, 2025-06-30, and 2025-03-31. Stock price data as of 2026-06-11 close, with 60-day trading history referenced. Data completeness is good for the specified periods.
Overview

Moderna, Inc. (MRNA) is a high-risk, high-potential biotechnology company in a significant investment phase post-COVID-19 revenue peak. The company possesses a validated mRNA technology platform and a deep pipeline but is currently experiencing deep losses, negative margins, and high cash burn. Its financial health shows strong liquidity and moderate leverage, but profitability metrics are deeply negative. The investment thesis hinges entirely on the future commercial success of its non-COVID pipeline products.

Valuation
3/10
Profitability
2/10
Financial health
5/10
Operation Advice
  • Hold for existing shareholders with high risk tolerance and a long-term horizon.
  • New investors should wait for more clarity on pipeline progress (Phase 3 data, regulatory submissions) and evidence of a sustainable path to profitability before considering a Buy.
  • A reasonable near-term price range is $45 - $55, with the current price of $49.64 near the midpoint.
  • The stock is unsuitable for value or income investors.

Valuation

P/E TTM
-7.55
P/E LYR
-5.14
P/B MRQ
2.46
P/S TTM
--
AI Analysis
  • Valuation is challenging due to negative earnings. The stock trades at a premium to book value (P/B 2.46) and an elevated P/S multiple (8.85), reflecting market expectations for future pipeline sales rather than current earnings. Based purely on current financials, the stock appears overvalued, but its price could be justified as a fair entry point for a high-risk investment if one assigns high probability to pipeline success.
  • Price-to-Earnings (P/E) ratios are negative (-5.14 forward, -7.55 TTM), rendering the P/E ratio meaningless for valuation.
  • The Price-to-Book (P/B) ratio of 2.46 indicates the stock trades at a premium to its net asset value, based on the value of its intellectual property and pipeline.
  • The Price-to-Sales (P/S-TTM) ratio of 8.85 is elevated, reflecting market expectation of future sales growth from the pipeline.
  • The current price is $49.64, trading within a recent 60-day range of $43.90 to $59.48.
  • A reasonable near-term price range is $45 - $55, with the lower bound reflecting operational losses and the upper bound reflecting pipeline optimism.
  • Based purely on current financials (negative profitability, high P/S), the stock appears overvalued.
  • Biotechnology valuations are forward-looking; if one assigns high probability to pipeline success, the current price could be justified as a fair entry point for a high-risk, high-reward investment.
Valuation trend

Profitability

ROE TTM
-36.33%
Net margin
-345.24%
Gross margin
-145.50%
Total revenue
389.00M
AI Analysis
  • Profitability metrics are deeply negative, indicating the company is in a significant investment phase with consistent losses, volatile and declining revenue, a severe gross margin collapse, and negative return metrics that show destruction of shareholder value.
  • The company has reported net losses in every quarter presented, with the most recent Q1 2026 net loss widening to $-1.34B.
  • The net margin for Q1 2026 is a staggering -345.24%.
  • Revenue has been highly volatile and declining year-over-year since the peak of COVID-19 vaccine sales.
  • Q1 2026 revenue of $389M showed a 260% year-over-year increase, but this is against a very low base in Q1 2025 ($108M).
  • The TTM revenue picture remains challenged.
  • The Q1 2026 gross margin was -145.50%, a severe deterioration from 55.35% in FY 2025, primarily due to significant charges.
  • Return on Equity (ROE-TTM) is -36.33%.
  • Return on Assets (ROA-TTM) is -25.35%, showing the company is failing to generate profits from its asset base.
Profitability
2025Q12025Q22025Q32025Q42026Q1
ROE TTM---17.69%-19.73%-28.87%-36.33%
Earnings
2025Q12025Q22025Q32025Q42026Q1
Total revenue108.00M250.00M1.27B1.94B389.00M

Financial health

Debt/Asset
35.52%
Current ratio
2.41
Quick ratio
2.35
Cash ratio
2.35
AI Analysis
  • Financial health shows a mixed picture with strong liquidity and moderate leverage, but a critical concern over significant cash burn as the company funds operations and R&D from pandemic-era reserves.
  • Liquidity is strong, with a current ratio of 2.41 and a quick ratio of 2.35, indicating robust short-term liquidity.
  • Leverage is moderate, with a debt-to-asset ratio of 35.52%, suggesting reasonable financial leverage and flexibility for R&D.
  • Cash burn is a critical concern; the company is experiencing significant losses.
  • The most recent Q1 2026 report shows a net loss of $-1.34B and implied negative free cash flow.
  • Substantial cash reserves from pandemic-era profits are being deployed to fund operations and ambitious R&D.
  • The rate of cash consumption is a key risk factor for investors.
Leverage
2025Q12025Q22025Q32025Q42026Q1
Debt/Asset20.77%21.74%23.11%29.89%35.52%
Liquidity
2025Q12025Q22025Q32025Q42026Q1
Current ratio4.223.933.923.292.41