Moderna (MRNA) Return on Capital Employed (2019 - 2026)
Moderna's (MRNA) quarterly Return on Capital Employed came in at 35.85% in Q1 2026, down 430.0% year-on-year from 10.86% in Q1 2025, and down 19.53% on a QoQ basis from 29.99% in Q4 2025.
Moderna (MRNA) Return on Capital Employed (2019 - 2026) Analysis & Trends
Moderna (MRNA) has 8 years of Return on Capital Employed data on file, last reported at 35.85% in Q1 2026.
- On a quarterly basis, Return on Capital Employed fell 430.0% year-over-year to 35.85% in Q1 2026; TTM through Mar 2026 was 35.85%, a 430.0% decrease from a year earlier, with the FY2025 full-year figure at 27.32%, up 71.0% from the prior year.
- Return on Capital Employed for Q1 2026 stood at 35.85%, down from 29.99% in the prior quarter.
- Over the last five years, Return on Capital Employed for MRNA reached as high as 96.19% in Q1 2022 and fell as low as 35.85% in Q1 2026.
- Historically, Return on Capital Employed has averaged 0.54% across 5 years, with a median of 26.62% in 2023.
- Across the five-year window, Return on Capital Employed soared 5592 bps in 2022 and sank 8523 bps in 2023, its largest moves.
- Year by year, Return on Capital Employed stood at 44.78% in 2022, then slumped by 159 bps to 26.62% in 2023, then decreased by 16 bps to 30.9% in 2024, then climbed by 3 bps to 29.99% in 2025, then dropped by 20 bps to 35.85% in 2026.
- Per Business Quant data, the three most recent Return on Capital Employed figures were 35.85% in Q1 2026, 29.99% in Q4 2025, and 33.33% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 67,072.09 Bn | 67,072.09 Bn | - | -31.80% |
| 2 | Nanobiotix | 1,894.61 Bn | 1,894.55 Bn | - | - |
| 3 | Akari Therapeutics | 1,014.18 Bn | 1,014.18 Bn | - | -107.40% |
| 4 | BeOne Medicines | 471.64 Bn | 466.85 Bn | 1.35 Bn | 10.46% |
| 5 | Vertex Pharmaceuticals | 121.72 Bn | 114.47 Bn | 2.59 Bn | 21.10% |
| 6 | Regeneron Pharmaceuticals | 68.28 Bn | 59.52 Bn | 3.31 Bn | 10.19% |
| 7 | Belite Bio | 61.40 Bn | 61.40 Bn | - | - |
| 8 | Argenx Se | 56.94 Bn | 56.94 Bn | 1.18 Bn | - |
| 9 | Revolution Medicines | 37.37 Bn | 37.37 Bn | - | -68.84% |
| 10 | Moderna | 21.46 Bn | 16.25 Bn | -566.00 Mn | -35.85% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 68.38% |