Moderna, Inc. (MRNA) quarterly cash flow statement — complete operating, investing & financing history
Moderna, Inc. (MRNA) cash flow statement — 10-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | -526M | -630M | 951M | -847M | -919M | -1.04B | 825M | -1.57B | -1.27B | -989M | 622M | -1.6B | -915M | -1.23B | 1.66B | 252M | 304M | 2.76B | 3.31B | 3.28B |
| Operating CF Margin % | -362.76% | -161.95% | 140.27% | -83.37% | -647.18% | -969.16% | 86.3% | -84.42% | -576.47% | -592.22% | 22.11% | -87.38% | -265.99% | -66.65% | 32.28% | 7.83% | 6.66% | 46.52% | 47.63% | 67.84% |
| Operating CF Growth % | 42.76% | 39.25% | 15.27% | 45.91% | 27.87% | -4.85% | 32.64% | 2.13% | -39.23% | 19.27% | -62.58% | -734.92% | -400.99% | -144.34% | -49.79% | -92.31% | -92.52% | -7% | 161.81% | 266.96% |
| Net Income | -782M | -1.34B | -826M | -200M | -825M | -971M | -1.12B | 13M | -1.28B | -1.18B | 217M | -3.63B | -1.38B | 79M | 1.47B | 1.04B | 2.2B | 3.66B | 4.87B | 3.33B |
| Depreciation & Amortization | 63M | 59M | 0 | 52M | 57M | 39M | 60M | 52M | 41M | 36M | 202M | 249M | 92M | 78M | 80M | 113M | 76M | 79M | 78M | 70M |
| Stock-Based Compensation | 120M | 104M | 0 | 125M | 130M | 115M | 104M | 112M | 112M | 101M | 79M | 77M | 74M | 75M | 62M | 70M | 50M | 44M | 37M | 40M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -106M | 1.46B | -220M | -310M | -86M | -97M | -230M | -146M | -229M | 0 |
| Other Non-Cash Items | 91M | -3M | 197M | -6M | 16M | -9M | 44M | -1.83B | -2M | -11M | -19M | 58M | -55M | -3M | -12M | 27M | 26M | 18M | 21M | 3M |
| Working Capital Changes | -18M | 553M | 1.58B | -818M | -297M | -211M | 1.74B | 86M | -146M | 60M | 249M | 182M | 574M | -1.14B | 153M | -904M | -1.81B | -889M | -1.47B | -170M |
| Change in Receivables | 53M | 114M | 859M | -1.01B | 30M | 280M | 1.21B | -1.4B | -26M | 755M | 974M | -1.63B | 881M | 272M | 1.31B | -4M | 483M | 1M | -33M | -1.12B |
| Change in Inventory | -132M | 6M | 179M | -91M | -114M | -8M | 291M | -11M | -104M | -93M | 285M | 228M | 18M | 216M | 1.13B | -156M | 21M | -501M | -476M | -322M |
| Change in Payables | -8M | -120M | 22M | 89M | -47M | -156M | 34M | 96M | 104M | -303M | 21M | 179M | -70M | -117M | 151M | 145M | -21M | -35M | 178M | -18M |
| Cash from Investing | 329M | -76M | -48M | 700M | 564M | 730M | -539M | 721M | 1.65B | 118M | -538M | 789M | 1.94B | 2.01B | -1.05B | 945M | -1.15B | -3.92B | -1.14B | -3.33B |
| Capital Expenditures | -37M | -62M | -39M | -33M | -3M | -117M | -522M | -151M | -182M | -196M | -220M | -140M | -234M | -113M | -92M | -89M | -87M | -132M | -120M | -99M |
| CapEx % of Revenue | 25.52% | 15.94% | 5.75% | 3.25% | 2.11% | 109.35% | 54.6% | 8.14% | 82.35% | 117.37% | 7.82% | 7.65% | 68.02% | 6.15% | 1.79% | 2.76% | 1.91% | 2.22% | 1.73% | 2.05% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -85M | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | -10M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5M | 0 | 0 | -35M | -30M | 0 |
| Cash from Financing | 14M | 17M | 560M | -1M | 9M | 4M | -3M | 11M | 34M | 14M | -109M | -58M | -668M | -542M | -438M | -1.04B | -1.33B | -642M | -873M | -2M |
| Debt Issued (Net) | 0 | 0 | 545M | -3M | -5M | 2M | -14M | 3M | 2M | -1M | -124M | -65M | -56M | -25M | -61M | -46M | -46M | -31M | -44M | -34M |
| Equity Issued (Net) | 21M | 19M | 16M | 2M | 14M | 3M | 11M | 8M | 32M | 15M | 15M | 7M | -628M | -517M | -377M | -995M | -1.28B | -611M | -829M | 32M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1M | -628M | -526M | -402M | -1.01B | -1.3B | -623M | -857M | 0 |
| Other Financing | -7M | -2M | -1M | 0 | 0 | -1M | 0 | 0 | 0 | 0 | 0 | 0 | 16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | -185M | -688M | 1.46B | -147M | -345M | -303M | 282M | -833M | 409M | -857M | -25M | -869M | 361M | 244M | 176M | 156M | -2.17B | -1.8B | 1.3B | -53M |
| Free Cash Flow | -563M | -692M | 912M | -880M | -922M | -1.16B | 303M | -1.72B | -1.46B | -1.19B | 402M | -1.74B | -1.15B | -1.34B | 1.57B | 163M | 217M | 2.63B | 3.19B | 3.18B |
| FCF Margin % | -388.28% | -177.89% | 134.51% | -86.61% | -649.3% | -1087.85% | 31.69% | -92.56% | -658.82% | -709.58% | 14.29% | -95.03% | -334.01% | -72.8% | 30.49% | 5.06% | 4.75% | 44.29% | 45.91% | 65.79% |
| FCF Growth % | 38.94% | 40.55% | 200.99% | 48.75% | 36.68% | 1.77% | -24.63% | 1.32% | -26.72% | 11.43% | -74.39% | -1167.48% | -629.49% | -150.86% | -50.78% | -94.87% | -94.62% | -10.39% | 157.05% | 263.73% |
| FCF per Share | -1.42 | -1.75 | 2.33 | -2.26 | -2.38 | -3.02 | 0.79 | -4.30 | -3.79 | -3.10 | 1.02 | -4.57 | -3.02 | -3.30 | 3.88 | 0.40 | 0.52 | 6.18 | 7.40 | 7.32 |
| FCF Conversion (FCF/Net Income) | 0.67x | 0.47x | -1.15x | 4.24x | 1.11x | 1.07x | -0.74x | -120.46x | 1.00x | 0.84x | 2.87x | 0.44x | 0.66x | -15.51x | 1.13x | 0.24x | 0.14x | 0.76x | 0.68x | 0.98x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |