Moderna price to book ratio MRNA

Market value divided by the book value of the company's net assets, since 2019.

Today, Oct 23, 2026: 11.8×
8-year median: 3.5×
Against its 8-year history: 82nd; percentile: 0 is its lowest day, 100 its highest
8-year range: 0.9× to 37.0×
Peer median: 6.0×

Moderna's price to book ratio is 11.8× as of Oct 23, 2026.

That is above its 8-year median of 3.5×, higher than on 82% of days in the last 8 years.

Over that time it ranged from 0.9× in Apr 2025 to 37.0× in Jul 2021.

The median for 10 biotech stocks of a similar size is 6.0×.

Price to book ratio over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	11.8×	1.3×	13.3×
2025	1.3×	0.9×	1.4×
2024	1.3×	1.2×	5.0×
2023	2.8×	1.6×	4.1×
2022	3.8×	2.6×	8.6×
2021	10.2×	9.3×	37.0×
2020	15.0×	4.9×	22.5×
2019	5.2×	2.9×	5.8×

Against its peers

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

Company	Price to book ratio
MRNAModerna	11.8×
REGNRegeneron Pharmaceuticals	2.6×
VRTXVertex Pharmaceuticals	6.6×
ONCBeOne Medicines	8.3×
ALNYAlnylam Pharmaceuticals	22.1×
UTHRUnited Therapeutics	3.9×
INCYIncyte	3.7×
EXELExelixis	8.7×
NBIXNeurocrine Biosciences	3.9×
HALOHalozyme Therapeutics	99.3×
TECHBIO-TECHNE	5.4×
Peer median	6.0×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

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.