Moderna (MRNA) Return on Capital Employed (2019 - 2026)
Moderna (MRNA) posted quarterly Return on Capital Employed of 38.2% for Q2 2026, down 785.0% year-over-year from 5.58% in Q2 2025, and down 6.57% on a QoQ basis from 35.85% in Q1 2026.
Moderna (MRNA) Return on Capital Employed (2019 - 2026) Analysis & Trends
Moderna has reported Return on Capital Employed for 8 years, with the latest figure at 38.2% in Q2 2026.
- Return on Capital Employed for Q2 2026 came in at 38.2%, down 785.0% year-over-year; the trailing twelve-month figure through Jun 2026 was 38.2% (down 785.0% YoY), and the FY2025 annual result was 27.32%, up 71.0% from the prior year.
- Return on Capital Employed retreated to 38.2% in Q2 2026, from 35.85% in the prior quarter.
- Over five years, Return on Capital Employed peaked at 96.19% in Q1 2022 and troughed at 38.2% in Q2 2026.
- A 5-year average of 2.63% and a median of 28.31% in 2025 frame the typical range for Return on Capital Employed.
- The widest annual swing landed in 2022, when Return on Capital Employed soared 5592 bps; it then tumbled 8523 bps in 2023.
- A 5-year view of Return on Capital Employed shows it stood at 44.78% in 2022, then plunged by 159 bps to 26.62% in 2023, then fell by 16 bps to 30.9% in 2024, then gained by 3 bps to 29.99% in 2025, then retreated by 27 bps to 38.2% in 2026.
- Per Business Quant data, the three most recent Return on Capital Employed figures were 38.2% in Q2 2026, 35.85% in Q1 2026, and 29.99% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 139.13 Bn | 131.28 Bn | 2.84 Bn | 20.76% |
| 2 | Regeneron Pharmaceuticals | 85.77 Bn | 77.77 Bn | 3.93 Bn | 10.74% |
| 3 | Argenx Se | 64.64 Bn | 59.46 Bn | 1.37 Bn | - |
| 4 | Moderna | 58.29 Bn | 53.16 Bn | 52.00 Mn | -38.20% |
| 5 | BeOne Medicines | 41.92 Bn | 36.82 Bn | 1.53 Bn | 13.68% |
| 6 | Alnylam Pharmaceuticals | 31.58 Bn | 28.28 Bn | 992.69 Mn | 26.09% |
| 7 | BioNTech SE | 28.12 Bn | 9.73 Bn | 668.28 Mn | -6.85% |
| 8 | Insmed | 27.39 Bn | 26.22 Bn | 358.27 Mn | -50.93% |
| 9 | Royalty Pharma | 27.27 Bn | 26.43 Bn | - | 7.88% |
| 10 | Roivant Sciences | 26.20 Bn | 26.20 Bn | 1.16 Mn | -36.13% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -38.20% |
| Mar 31, 2026 | -35.85% |
| Dec 31, 2025 | -29.99% |
| Sep 30, 2025 | -33.33% |
| Jun 30, 2025 | -30.35% |
| Mar 31, 2025 | -31.55% |
| Dec 31, 2024 | -30.90% |
| Sep 30, 2024 | -19.89% |
| Jun 30, 2024 | -33.49% |
| Mar 31, 2024 | -33.81% |
| Dec 31, 2023 | -26.62% |
| Sep 30, 2023 | -16.37% |
| Jun 30, 2023 | 2.58% |
| Mar 31, 2023 | 22.46% |
| Dec 31, 2022 | 44.78% |
| Sep 30, 2022 | 68.86% |
| Jun 30, 2022 | 78.16% |
| Mar 31, 2022 | 96.19% |
| Dec 31, 2021 | 97.28% |
| Sep 30, 2021 | 88.70% |