Moderna forward PE MRNA

Share price divided by analysts' consensus earnings for the next twelve months, since 2020.

Today, Oct 23, 2026: n/m; a loss expected
Last meaningful: 68.1×; Oct 2022
6-year median: 10.2×
6-year range: 4.0× to 84.3×
Peer median: 26.8×

Moderna has no meaningful forward PE today: analysts expect a loss over the next twelve months.

It was last meaningful in Oct 2022, at 68.1×.

On the days it had one over the last 6 years, its median was 10.2×, from 4.0× in Oct 2020 to 84.3× in Aug 2022.

Forward PE over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2022	68.1×	6.3×	84.3×
2021	10.9×	4.8×	15.6×
2020	6.1×	4.0×	69.8×

Against its peers

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

Company	Forward PE
MRNAModerna	n/m
REGNRegeneron Pharmaceuticals	12.6×
VRTXVertex Pharmaceuticals	27.0×
ONCBeOne Medicines	48.1×
ALNYAlnylam Pharmaceuticals	26.7×
UTHRUnited Therapeutics	22.0×
INCYIncyte	49.5×
EXELExelixis	n/m
NBIXNeurocrine Biosciences	n/m
HALOHalozyme Therapeutics	n/m
TECHBIO-TECHNE	n/m
Peer median	26.8×

What the forward PE tells you

Price divided by what analysts expect the company to earn over the next twelve months. It answers "what am I paying for next year" instead of last year.

Estimates are opinions. When forward PE is far below trailing PE, analysts expect a big jump in earnings. If that jump slips, the stock was not as cheap as it looked.

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.