Moderna (MRNA) EV to FCF (2018 - 2026)
Moderna's (MRNA) quarterly EV to FCF came in at 40.5 in Q2 2026, down 566.7% year-over-year from 8.68 in Q2 2025, and down 87.33% quarter-over-quarter from 21.62 in Q1 2026.
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Analysis
Moderna (MRNA) EV to FCF (2018 - 2026) Analysis & Trends
Moderna (MRNA) has reported EV to FCF for 9 consecutive years, with 40.5 the latest figure, recorded in Q2 2026.
- On a quarterly basis, EV to FCF fell 566.7% year-over-year to 40.5 in Q2 2026; TTM through Jun 2026 was 18.33, a 1042.12% decrease from a year earlier, with the FY2025 full-year figure at 2.82, down 26.64% from the prior year.
- EV to FCF was 40.5 for Q2 2026 at Moderna, down from 21.62 in the prior quarter.
- Over five years, EV to FCF peaked at 229.54 in Q3 2022 and troughed at 40.5 in Q2 2026.
- A 5-year average of 21.64 and a median of 6.22 in 2025 frame the typical range for EV to FCF.
- Across the five-year window, EV to FCF jumped 931.01% in 2022 and slumped 566.7% in 2026, its largest moves.
- Over 5 years, EV to FCF stood at 37.74 in 2022, then jumped by 93.69% to 73.1 in 2023, then slumped by 59.25% to 29.79 in 2024, then sank by 78.07% to 6.53 in 2025, then slumped by 720.09% to 40.5 in 2026.
- The last three EV to FCF figures came in at 40.5 (Q2 2026), 21.62 (Q1 2026), and 6.53 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Johnson & Johnson | 649.01 Bn | 628.25 Bn | 17.26 Bn |
| 2 | AbbVie | 468.55 Bn | 462.03 Bn | 12.70 Bn |
| 3 | Merck | 365.49 Bn | 358.40 Bn | 12.21 Bn |
| 4 | Novartis Ag | 272.39 Bn | 265.10 Bn | 11.24 Bn |
| 5 | Astrazeneca | 253.18 Bn | 247.96 Bn | 12.86 Bn |
| 6 | Amgen | 219.53 Bn | 205.54 Bn | 7.24 Bn |
| 7 | Gilead Sciences | 187.85 Bn | 184.59 Bn | 6.22 Bn |
| 8 | Pfizer | 160.56 Bn | 149.16 Bn | 10.94 Bn |
| 9 | Vertex Pharmaceuticals | 130.81 Bn | 122.96 Bn | 2.84 Bn |
| 10 | Moderna | 72.66 Bn | 67.52 Bn | 52.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -40.50 |
| Mar 31, 2026 | -21.62 |
| Dec 31, 2025 | 6.53 |
| Sep 30, 2025 | -6.36 |
| Jun 30, 2025 | -6.08 |
| Mar 31, 2025 | -4.33 |
| Dec 31, 2024 | 29.79 |
| Sep 30, 2024 | -10.99 |
| Jun 30, 2024 | -25.49 |
| Mar 31, 2024 | -27.25 |
| Dec 31, 2023 | 73.10 |
| Sep 30, 2023 | -18.26 |
| Jun 30, 2023 | -32.93 |
| Mar 31, 2023 | -37.41 |
| Dec 31, 2022 | 37.74 |
| Sep 30, 2022 | 229.54 |
| Jun 30, 2022 | 221.66 |
| Mar 31, 2022 | 22.34 |
| Dec 31, 2021 | 28.72 |
| Sep 30, 2021 | 46.26 |
API Access
Moderna EV to FCF API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-fcf&ticker=MRNA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "ticker": "MRNA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-fcf&ticker=MRNA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();