Moderna EV/EBIT MRNA

Enterprise value divided by operating profit over the last twelve months, one-off items taken out, since 2021.

Today, Oct 23, 2026: n/m; an operating loss
Last meaningful: 43.3×; Nov 2023
5-year median: 7.5×
5-year range: 2.5× to 212×
Peer median: 19.1×

Moderna has no meaningful EV/EBIT today: it made an operating loss of $3.3B over the last twelve months.

It was last meaningful in Nov 2023, at 43.3×.

On the days it had one over the last 5 years, its median was 7.5×, from 2.5× in Sep 2022 to 212× in Jul 2021.

EV/EBIT over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2023	43.3×	3.5×	70.8×
2022	4.7×	2.5×	10.3×
2021	12.4×	11.2×	212×

Against its peers

Companies in Biotechnology nearest Moderna's size, closest first, today.

Company	EV/EBIT
MRNAModerna	n/m
REGNRegeneron Pharmaceuticals	20.0×
VRTXVertex Pharmaceuticals	26.6×
ONCBeOne Medicines	42.2×
ALNYAlnylam Pharmaceuticals	27.9×
UTHRUnited Therapeutics	16.1×
INCYIncyte	10.1×
EXELExelixis	15.4×
NBIXNeurocrine Biosciences	18.2×
HALOHalozyme Therapeutics	17.4×
TECHBIO-TECHNE	44.9×
Peer median	19.1×

What the EV/EBIT tells you

What the whole business costs against its operating profit. Enterprise value is the market value plus borrowings and minority interests, less cash. EBIT is operating profit before interest and tax, with one-offs taken out. Unlike PE it is not moved by how a company is financed.

Leases are left out of debt for every company. Banks earn on their balance sheet, so EV/EBIT does not describe them.

More on Moderna

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.