Not investment advice. FilingSight is an automated analytical research tool, not a registered investment advisor. Ratings and scores are quantitative analytical classifications, not buy or sell recommendations. Nothing here is personalized to your circumstances. Investing involves risk of loss — consult a licensed professional. See full disclosures.
Create a free account to read 3 full reports each month — plus a 14-day Pro trial. Get started →
Moderna Inc.
MRNAHealthcareGenerated Jul 5, 2026, 08:14 PM UTC
MRNA (Moderna Inc.) analytical snapshot. 5-year revenue CAGR —. Return on equity -24.65%, ROA -33.33%, ROIC -22.17%. Net income down ▼ +156.4% YoY. Market cap $31.65B at $79.76 per share. DCF not computed (no positive free cash flow reported). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -4 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Market cap
$31.65B
396.79M shares
Price
$79.76
NMS
P/E (ttm)
—
Revenue (FY)
—
Net margin
—
Free cash flow
-$3.83B
Risk level
Moderate
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score -5Stable
80% conf
5-year revenue CAGR —. Return on equity -24.65%, ROA -33.33%, ROIC -22.17%. Net income down ▼ +156.4% YoY.
- 5-year revenue CAGR —.
- Return on equity -24.65%, ROA -33.33%, ROIC -22.17%.
- Net income down ▼ +156.4% YoY.
- Debt/equity 0.08, current ratio 2.41, net debt -$1.32B.
Revenue (FY)
—
Net margin
—
ROE
-24.65%
ROA -33.33%
ROIC
-22.17%
EPS (diluted)
$-12.33
FY2025
Free cash flow
-$3.83B
Debt / equity
0.08
Cash $1.91B
Current ratio
2.41
Equity $7.41B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2018 | $108.4M | — | 0.00 | -206.44 | -199.46 | $33.6M | 144.37 |
| 2019 | $205.8M | +89.9% | 0.00 | -130.87 | -124.34 | -$389.9M | 76.44 |
| 2020 | $135.1M | -34.4% | 0.00 | -305.97 | -284.84 | -$436.6M | 69.78 |
| 2021 | $60.0M | -55.6% | 0.00 | -910.00 | -856.67 | -$491.0M | -33.59 |
| 2022 | $803.0M | +1238.3% | 0.00 | -95.02 | -93.03 | $1.96B | -63.57 |
| 2023 | — | — | — | — | — | $13.34B | 476.45 |
| 2024 | — | — | — | — | — | $4.58B | 59.12 |
| 2025 | — | — | — | — | — | -$3.83B | -24.65 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Jun 30, 2022 | $4.75B | -24.5% | — | 123.27% |
| Sep 30, 2022 | $14.18B | +25.9% | +198.6% | 48.64% |
| Sep 30, 2022 | $3.36B | -70.1% | -76.3% | 205.02% |
| Mar 31, 2023 | $1.86B | -69.3% | -44.6% | 4.24% |
| Jun 30, 2023 | $2.21B | -79.6% | +18.5% | -58.98% |
| Jun 30, 2023 | $344.0M | -96.8% | -84.4% | -378.20% |
Revenue (annual, SEC 10-K)
2018: 108
2019: 206
2020: 135
2021: 60
2022: 803
2023: 0
2024: 0
2025: 0
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Free cash flow (annual)
2018: 34
2019: -390
2020: -437
2021: -491
2022: 1,959
2023: 13,336
2024: 4,581
2025: -3,825
2018
2019
2020
2021
2022
2023
2024
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score -10Stable
80% conf
Latest annual report (10-K) filed Feb 20, 2026. Latest quarterly report (10-Q) filed May 1, 2026. 13 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 20, 2026.
- Latest quarterly report (10-Q) filed May 1, 2026.
- 13 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 2 sell transactions — net selling $2.9M.
- ~10,000+ recent 13F-HR filings reference Moderna Inc.; broad institutional reporting.
- Recent filers include Theleme Partners LLP, Theleme Partners LLP, Theleme Partners LLP.
- 20 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 20, 2026
Annual report
Latest 10-Q
May 1, 2026
8-K (recent)
13
Insider net
-$2.9M
0B/2S
13F filers
10k+
Activist 13D
0
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| Theleme Partners LLP | 13F-HR | Feb 13, 2024 |
| Theleme Partners LLP | 13F-HR | May 14, 2024 |
| Theleme Partners LLP | 13F-HR | Nov 14, 2024 |
| Theleme Partners LLP | 13F-HR | Aug 14, 2024 |
| Flagship Pioneering, LLC | 13F-HR | May 15, 2026 |
Recent insider Form 4 activity
| Insider | Date | Net | Buys/Sells |
|---|---|---|---|
| Hoge Stephen | Jun 17, 2026 | -$2.7M | 0/1 |
| Klinger Shannon Thyme | Jun 8, 2026 | -$173.6K | 0/1 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| May 11, 2026 | 8-K | 8-K |
| May 1, 2026 | 8-K | 8-K |
| Mar 5, 2026 | 8-K | 8-K |
| Feb 13, 2026 | 8-K | 8-K |
| Feb 11, 2026 | 8-K | 8-K |
| Jan 12, 2026 | 8-K | 8-K |
| Jan 5, 2026 | 8-K | 8-K |
| Nov 24, 2025 | 8-K | 8-K |
Insider Form 4 sentiment (transactions)
Buys: 0
Sells: 2
Buys
Sells
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -49Deteriorating
66% conf
3 risk signal(s), 1 watch item(s) detected from XBRL filing diff analysis. Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- Free cash flow deteriorating: FCF declined +183.5% YoY (from $4.58B to $-3.83B). With OCF at $-3.12B and capex at $707.0M, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- Material weakness in internal controls: The term "material weakness" appears in 7 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- NEW: Restatement of financial statements in latest filing: The term "restate" "financial statements" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 6 filing(s).
- R&D intensity declining: R&D as % of revenue fell from 5491.7% to 603.4%. This may signal reduced innovation investment — potentially impacting long-term competitive position. Compare with peer R&D trends.
- Endogenous analysis: Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- 1 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 1 new risk-language term(s) detected in filing text: Restatement of financial statements.
- Ongoing high-severity risk language: Material weakness in internal controls.
Revenue
$803.0M
+1238.3% YoY
Operating income
$-4.24B
-145.0% YoY
Net income
$-4.71B
-156.4% YoY
Operating cash flow
$-3.12B
-162.6% YoY
Capex
$707.0M
+76.8% YoY
Total assets
$14.14B
-23.2% YoY
Total liabilities
$3.24B
-29.1% YoY
Long-term debt
$0
— YoY
Filing quality score
72/100
1 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $60.0M | $803.0M | $743.0M | +1238.3% |
| Operating income | $9.42B | $-4.24B | $-13.66B | -145.0% |
| Net income | $8.36B | $-4.71B | $-13.08B | -156.4% |
| Operating cash flow | $4.98B | $-3.12B | $-8.10B | -162.6% |
| Capex | $400.0M | $707.0M | $307.0M | +76.8% |
| Total assets | $18.43B | $14.14B | $-4.28B | -23.2% |
| Total liabilities | $4.57B | $3.24B | $-1.33B | -29.1% |
| Long-term debt | — | $0 | — | — |
| Cash & equivalents | $3.21B | $2.91B | $-298.0M | -9.3% |
| Stockholders equity | $14.14B | $19.12B | $4.98B | +35.2% |
| Inventory | $202.0M | $117.0M | $-85.0M | -42.1% |
| Accounts receivable | $892.0M | $358.0M | $-534.0M | -59.9% |
| R&D expense | $3.29B | $4.84B | $1.55B | +47.0% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | LossContingencyAccrualAtCarryingValue |
| Removed | AdvertisingExpense, AllowanceForDoubtfulAccountsReceivableCurrent, AssetImpairmentCharges, CurrentFederalTaxExpenseBenefit, CurrentForeignTaxExpenseBenefit, CurrentIncomeTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit, DeferredFederalIncomeTaxExpenseBenefit, DeferredForeignIncomeTaxExpenseBenefit, DeferredIncomeTaxExpenseBenefit |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Material weakness in internal controls | high | 7 | 2 | Ongoing |
| Restatement of financial statements | high | 6 | 0 | NEW |
| Restructuring | medium | 6 | 1 | Ongoing |
| Off-balance sheet arrangements | medium | 29 | 8 | Ongoing |
| Related party transactions | low | 7 | 0 | NEW |
Filing signal breakdown
Red flags: 3
Positive: 0
Watch: 1
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $31.65B at $79.76 per share.
- ProPrice & TechnicalsPrice $79.76 — uptrend (above 200-DMA); 1-month momentum positive.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Moderate.
This content is for Pro subscribers
Unlock the full breakdown from all analysts — valuation (DCF & Graham), price & technicals, macro, risk scorecard, and 13F/13D ownership flow — plus your research workspace.
3 sections free · 4 Pro sections locked · composite -4
Macro exposure
Defensive · Low sensitivityMacro regime: Risk-on · Supportive. Moderna Inc. is a defensive name (low macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewPrice $79.76 — uptrend (above 200-DMA); 1-month momentum positive..
Risk
Moderate
Macro regime
Risk-on · Supportive
Macro exposure
Neutral
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Defensive groupHow MRNA stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Bristol-Myers Squibb BMY | 12 | Neutral |
| Cigna Group CI | 9 | Neutral |
| Procter & Gamble PG | 9 | Neutral |
| UnitedHealth Group UNH | 6 | Neutral |
| CVS Health Corp. CVS | 6 | Neutral |
| Zoetis Inc. ZTS | 3 | Neutral |
| Eli Lilly & Co. LLY | 3 | Neutral |
| Colgate-Palmolive CL | 1 | Neutral |
| Coca-Cola Co. KO | 1 | Neutral |
| Gilead Sciences GILD | 1 | Neutral |
| Intuitive Surgical Inc. ISRG | -1 | Neutral |
| Moderna Inc. MRNA● you | -4 | Neutral |
| Regeneron Pharmaceuticals REGN | -4 | Neutral |
| DexCom Inc. DXCM | -7 | Neutral |
| AbbVie Inc. ABBV | -7 | Neutral |
| Johnson & Johnson JNJ | -7 | Neutral |
| Vertex Pharmaceuticals VRTX | -8 | Neutral |
| Kimberly-Clark Corp. KMB | -10 | Neutral |
| Sysco Corp. SYY | -10 | Neutral |
| Danaher Corp. DHR | -11 | Neutral |
| Mondelez International MDLZ | -11 | Neutral |
| Merck & Co. MRK | -11 | Neutral |
| Biogen Inc. BIIB | -11 | Neutral |
| Amgen Inc. AMGN | -14 | Neutral |
| HCA Healthcare HCA | -14 | Neutral |
| Illumina Inc. ILMN | -16 | Neutral |
| Kroger Co. KR | -16 | Neutral |
| Thermo Fisher Scientific TMO | -18 | Neutral |
| Costco Wholesale COST | -18 | Neutral |
| PepsiCo Inc. PEP | -21 | Neutral |
| Walmart Inc. WMT | -25 | Neutral |
| Hershey Co. HSY | -26 | Neutral |
| Abbott Laboratories ABT | -30 | Neutral |
| Pfizer Inc. PFE | -49 | Neutral |