Moderna (MRNA) Operating Margin (2017 - 2026)
Moderna (MRNA) posted Operating Margin of -562.07% for Q2 2026, up 76.66 percentage points from -638.73% a year earlier but down 205.26 percentage points from the prior quarter.
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Analysis
Moderna (MRNA) Operating Margin (2017 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Margin at Moderna was -149.01%, down 42.68 percentage points year-over-year; for FY2025, it was -158.13%, down 36.22 percentage points from FY2024.
- Annual Operating Margin has declined for four consecutive years, with a five-year change of -63.11 percentage points (FY2020 to FY2025).
- In prior years, Moderna's Operating Margin was -121.91% in FY2024 (-60.01 pp), -61.90% in FY2023 (-110.80 pp), 48.90% in FY2022 (-23.08 pp) and 71.98% in FY2021 (+167.00 pp).
- Quarterly Operating Margin has run from a low of -972.22% in Q1 2025 to a high of 75.02% in Q4 2021 over five years.
- On a year-over-year basis, Operating Margin has increased in each of the last three quarters, with an average year-over-year change of +45.31 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Operating Margin in the past five years was Q1 2026, with a gain of 615.41 percentage points; the weakest was Q1 2024, with a drop of 738.43 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was -356.81% (Q1 2026), -126.40% (Q4 2025) and -25.59% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,122.91 Bn | 1,091.50 Bn | 19.71 Bn | 51.16% |
| 2 | Johnson & Johnson | 615.09 Bn | 533.62 Bn | 17.26 Bn | 28.21% |
| 3 | AbbVie | 504.75 Bn | 477.86 Bn | 12.70 Bn | 37.86% |
| 4 | Merck | 360.18 Bn | 314.55 Bn | 12.21 Bn | -3.52% |
| 5 | Novartis Ag | 292.05 Bn | 256.04 Bn | 11.24 Bn | 32.97% |
| 6 | Astrazeneca | 256.09 Bn | 229.78 Bn | 12.86 Bn | 20.57% |
| 7 | Amgen | 233.63 Bn | 189.02 Bn | 7.24 Bn | 34.95% |
| 8 | Gilead Sciences | 194.49 Bn | 168.69 Bn | 6.22 Bn | -133.21% |
| 9 | Pfizer | 168.35 Bn | 114.99 Bn | 10.94 Bn | 28.37% |
| 10 | Moderna | 85.93 Bn | 65.29 Bn | 52.00 Mn | -562.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -562.07% |
| Mar 31, 2026 | -356.81% |
| Dec 31, 2025 | -126.40% |
| Sep 30, 2025 | -25.59% |
| Jun 30, 2025 | -638.73% |
| Mar 31, 2025 | -972.22% |
| Dec 31, 2024 | -128.99% |
| Sep 30, 2024 | -3.76% |
| Jun 30, 2024 | -565.56% |
| Mar 31, 2024 | -758.08% |
| Dec 31, 2023 | 0.21% |
| Sep 30, 2023 | -109.89% |
| Jun 30, 2023 | -542.73% |
| Mar 31, 2023 | -19.66% |
| Dec 31, 2022 | 31.08% |
| Sep 30, 2022 | 34.66% |
| Jun 30, 2022 | 51.53% |
| Mar 31, 2022 | 69.68% |
| Dec 31, 2021 | 75.02% |
| Sep 30, 2021 | 71.60% |
API Access
Moderna Operating 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=operating-margin&ticker=MRNA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=MRNA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();