Moderna (MRNA) Gross Margin (2020 - 2026)
Moderna (MRNA) reported Gross Margin of 35.86% for Q2 2026, up 19.66 percentage points from 16.20% a year earlier and up 181.36 percentage points from the prior quarter.
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Analysis
Moderna (MRNA) Gross Margin (2020 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Moderna's Gross Margin came in at 23.38%, down 29.12 percentage points year-over-year; for FY2025, it came in at 55.35%, up 0.59 percentage points from FY2024.
- Gross Margin has a five-year change of -43.65 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 54.76% in FY2024 (+23.29 pp), 31.47% in FY2023 (-40.41 pp), 71.88% in FY2022 (-13.95 pp) and 85.83% in FY2021 (-13.17 pp).
- Five-year quarterly Gross Margin spans a low of -145.50% in Q1 2026 and a high of 86.80% in Q4 2021.
- Year over year, Gross Margin gained in four of the last eight quarters, with an average year-over-year change of -17.00 percentage points.
- The high point for year-over-year Gross Margin in five years was Q2 2024 (a gain of 164.78 percentage points); the low point was Q2 2023 (a drop of 183.42 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -145.50% (Q1 2026), 33.33% (Q4 2025) and 79.63% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,224.11 Bn | 1,197.72 Bn | 20.46 Bn | 83.88% |
| 2 | Johnson & Johnson | 665.34 Bn | 585.20 Bn | 17.30 Bn | 68.12% |
| 3 | AbbVie | 515.72 Bn | 483.73 Bn | 13.12 Bn | 75.38% |
| 4 | Merck | 362.64 Bn | 325.58 Bn | 13.19 Bn | 72.95% |
| 5 | Novartis Ag | 315.51 Bn | 288.75 Bn | - | - |
| 6 | Astrazeneca | 289.26 Bn | 263.15 Bn | 13.26 Bn | 88.03% |
| 7 | Amgen | 249.20 Bn | 200.85 Bn | 7.58 Bn | 73.10% |
| 8 | Gilead Sciences | 207.48 Bn | 182.59 Bn | 6.73 Bn | 81.07% |
| 9 | Pfizer | 167.49 Bn | 114.85 Bn | 12.56 Bn | 75.71% |
| 10 | Moderna | 100.92 Bn | 80.27 Bn | 52.00 Mn | 35.86% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 35.86% |
| Mar 31, 2026 | -145.50% |
| Dec 31, 2025 | 33.33% |
| Sep 30, 2025 | 79.63% |
| Jun 30, 2025 | 16.20% |
| Mar 31, 2025 | 16.67% |
| Dec 31, 2024 | 23.50% |
| Sep 30, 2024 | 72.40% |
| Jun 30, 2024 | 52.28% |
| Mar 31, 2024 | 42.51% |
| Dec 31, 2023 | 66.95% |
| Sep 30, 2023 | -22.39% |
| Jun 30, 2023 | -112.50% |
| Mar 31, 2023 | 57.47% |
| Dec 31, 2022 | 62.27% |
| Sep 30, 2022 | 67.30% |
| Jun 30, 2022 | 70.92% |
| Mar 31, 2022 | 83.23% |
| Dec 31, 2021 | 86.80% |
| Sep 30, 2021 | 85.47% |
API Access
Moderna Gross Margin 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=gross-margin&ticker=MRNA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=MRNA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();