Superworth

Moderna profit margin MRNA

Gross, operating and net profit as a share of revenue over the last twelve months, from 2020.

Net margin, 12 months
n/m
not a meaningful number
Peer median
26.3%

Moderna's net margin works out at −141% over the last twelve months, but it is not a meaningful number: a margin outside minus 100% to 100% is moved by items that are not sales.

Profit margin over time

GrossOperatingNet

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal yearNet marginOperating marginGross margin
FY2025n/an/a55.3%
FY2024n/an/a54.8%
FY2023−68.8%−61.9%31.5%
FY202243.4%48.9%71.9%
FY202166.1%72.0%85.8%
FY2020−92.9%−94.9%99.0%
FY2019n/an/an/a
FY2018n/an/an/a

Quarter by quarter

QuarterEndedNet margin, 12 monthsChange on a yearOperating margin
Q2 FY26n/an/an/a
Q1 FY26n/an/an/a
Q4 FY25n/an/an/a
Q3 FY25n/an/an/a
Q2 FY25−94.3%n/an/a
Q1 FY25n/an/an/a
Q4 FY24n/an/an/a
Q3 FY24−43.8%−5.8 pts−53.0%
Q2 FY24n/an/a−91.8%
Q1 FY24n/an/a−99.7%
Q4 FY23−68.8%−112.2 pts−61.9%
Q3 FY23−38.0%−93.0 pts−29.2%

Against its peers

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

CompanyProfit margin
MRNAModernan/m
REGNRegeneron Pharmaceuticals27.9%
VRTXVertex Pharmaceuticals35.0%
ONCBeOne Medicines10.7%
ALNYAlnylam Pharmaceuticals16.8%
UTHRUnited Therapeutics41.6%
INCYIncyte27.7%
EXELExelixis35.3%
NBIXNeurocrine Biosciences20.9%
HALOHalozyme Therapeutics24.9%
TECHBIO-TECHNE15.0%
Peer median26.3%

What the profit margin tells you

Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).

Compare within an industry. 10% is superb for a retailer and poor for a software company.

More on Moderna

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