Moderna (MRNA) Return on Capital Employed [ROCE] (2019 - 2026)
Moderna (MRNA) posted Return on Capital Employed [ROCE] of -38.20% for Q2 2026, down 7.85 percentage points from -30.35% a year earlier and down 2.35 percentage points from the prior quarter.
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Analysis
Moderna (MRNA) Return on Capital Employed [ROCE] (2019 - 2026) Analysis & Trends
For FY2025, Moderna's Return on Capital Employed [ROCE] came in at -27.32%, up 0.71 percentage points from FY2024.
- Annual Return on Capital Employed [ROCE] shows a five-year change of +1000.83 percentage points (FY2020 to FY2025).
- In prior years, Moderna's Return on Capital Employed [ROCE] was -28.02% in FY2024 (-5.86 pp), -22.16% in FY2023 (-68.47 pp), 46.31% in FY2022 (-147.08 pp) and 193.40% in FY2021 (+1221.55 pp).
- The Q2 2026 figure stands as the lowest quarterly Return on Capital Employed [ROCE] since Q4 2020.
- On a year-over-year basis, Return on Capital Employed [ROCE] increased in three of the last eight quarters, with an average year-over-year change of -3.38 percentage points.
- The strongest year-over-year quarter for Return on Capital Employed [ROCE] in the past five years was Q4 2021, with a gain of 144.82 percentage points; the weakest was Q3 2023, with a drop of 85.23 percentage points.
- According to Business Quant data, Return on Capital Employed [ROCE] for the three prior quarters was -35.85% (Q1 2026), -29.99% (Q4 2025) and -33.33% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,122.91 Bn | 1,091.50 Bn | 19.71 Bn | 46.74% |
| 2 | Johnson & Johnson | 615.09 Bn | 533.62 Bn | 17.26 Bn | 17.83% |
| 3 | AbbVie | 504.75 Bn | 477.86 Bn | 12.70 Bn | 17.92% |
| 4 | Merck | 360.18 Bn | 314.55 Bn | 12.21 Bn | 6.28% |
| 5 | Novartis Ag | 292.05 Bn | 256.04 Bn | 11.24 Bn | 19.32% |
| 6 | Astrazeneca | 256.09 Bn | 229.78 Bn | 12.86 Bn | 16.76% |
| 7 | Amgen | 233.63 Bn | 189.02 Bn | 7.24 Bn | 16.66% |
| 8 | Gilead Sciences | 194.49 Bn | 168.69 Bn | 6.22 Bn | -5.97% |
| 9 | Pfizer | 168.35 Bn | 114.99 Bn | 10.94 Bn | 11.86% |
| 10 | Moderna | 85.93 Bn | 65.29 Bn | 52.00 Mn | -38.20% |
Historic Data
Download Data
Historic 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% |
API Access
Moderna Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=MRNA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=MRNA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();