Last 36 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -26.17 | — | — | — | — | — | — | — | 512.50 | — | — | 45.20 | — | — | 191.97 | 12.40 | 11.68 | 6.82 | 5.02 | 5.62 | 12.50 |
| — | — | — | — | — | — | — | — | — | — | — | +264.4% | — | — | +3724.8% | +120.6% | -6.5% | -25.1% | -56.5% | — | — | |
| P/S Ratio | 38.78 | 47.81 | 12.90 | 4.26 | 2.48 | 18.85 | 25.57 | 4.19 | 3.59 | 51.58 | 60.94 | 3.49 | 5.37 | 33.64 | 8.46 | 3.53 | 3.78 | 3.28 | 3.09 | 3.94 | 8.65 |
| — | +153.7% | -49.6% | +1.8% | -31.0% | -63.5% | -58.0% | +19.9% | -33.1% | +53.3% | +620.3% | -1.2% | +42.1% | +926.6% | +173.9% | -10.3% | -56.3% | -45.4% | -61.8% | -78.3% | -80.5% | |
| P/B Ratio | 8.54 | 4.10 | 2.71 | 1.34 | 1.08 | 1.14 | 1.09 | 1.47 | 2.24 | 3.89 | 3.18 | 2.84 | 2.92 | 2.73 | 3.30 | 3.80 | 2.71 | 3.33 | 4.30 | 7.74 | 16.50 |
| — | +260.1% | +149.2% | -9.0% | -51.7% | -70.7% | -65.8% | -48.2% | -23.6% | +42.6% | -3.7% | -25.5% | +8.0% | -17.9% | -23.3% | -50.8% | -83.6% | -78.0% | -70.7% | -52.2% | +62.9% | |
| P/FCF | — | — | — | 3.17 | — | — | — | 13.21 | — | — | — | 24.43 | — | — | — | 11.58 | 74.72 | 68.96 | 6.97 | 8.58 | 13.14 |
| — | — | — | -76.0% | — | — | — | -45.9% | — | — | — | +110.9% | — | — | — | +35.0% | +468.5% | +998.4% | +45.4% | +2.8% | +64.3% | |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | 45.21 | — | — | — | 10.65 | 9.18 | 5.73 | 4.02 | 4.72 | 11.17 |
| — | — | — | — | — | — | — | — | — | — | — | +324.4% | — | — | — | +125.9% | -17.8% | -25.4% | -59.7% | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | 244.22 | — | — | 123.75 | — | — | — | 10.62 | 9.58 | 5.84 | 4.09 | 4.78 | 11.39 |
| — | — | — | — | — | — | — | — | — | — | — | +1065.0% | — | — | — | +122.3% | -15.9% | -25.6% | -59.6% | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.3% | 35.9% | -145.5% | 33.3% | 0.8% | 16.2% | 15.9% | 22.7% | 72.3% | 48.0% | 42.5% | 67.0% | -22.4% | -112.5% | 56.9% | 62.7% | 65.8% | 69.8% | 82.9% | 86.3% | 85.0% |
| — | +121.4% | -1015.8% | +46.9% | -98.9% | -66.2% | -62.6% | -66.1% | +422.8% | +142.6% | -25.3% | +6.7% | -134.0% | -261.3% | -31.3% | -27.3% | -22.6% | -15.1% | -6.8% | -11.3% | -10.1% | |
| Operating Margin | -158.1% | -562.1% | -356.8% | -126.4% | -25.6% | -638.7% | -981.3% | -130.3% | -3.8% | -616.7% | -758.1% | 0.2% | -109.9% | -542.7% | -19.9% | 30.7% | 36.2% | 53.6% | 71.2% | 77.9% | 73.7% |
| — | +12.0% | +63.6% | +3.0% | -578.1% | -3.6% | -29.4% | -61203.9% | +96.6% | -13.6% | -3707.0% | -99.3% | -403.5% | -1112.7% | -128.0% | -60.6% | -50.9% | -26.2% | -2.0% | +261.6% | +149.5% | |
| Net Margin | -145.2% | -539.3% | -345.2% | -121.8% | -19.7% | -581.0% | -907.5% | -117.2% | 0.7% | -578.7% | -703.6% | 7.7% | -198.3% | -401.2% | 4.3% | 28.5% | 32.4% | 48.1% | 61.6% | 70.1% | 69.0% |
| — | +7.2% | +62.0% | -4.0% | -2908.9% | -0.4% | -29.0% | -1618.7% | +100.4% | -44.3% | -16469.5% | -72.9% | -712.1% | -933.7% | -93.0% | -59.4% | -53.1% | -27.0% | -12.1% | +246.7% | +146.6% |
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -28.9% | -11.0% | -16.7% | -9.2% | -2.1% | -8.5% | -9.3% | -9.8% | 0.1% | -10.4% | -8.8% | 1.6% | -23.9% | -7.7% | 0.4% | 7.9% | 5.8% | 12.5% | 23.4% | 40.1% | 39.6% |
| — | -30.2% | -80.6% | +6.4% | -2041.5% | +18.7% | -5.1% | -717.4% | +100.5% | -35.3% | -2218.6% | -79.9% | -511.8% | -161.5% | -98.2% | -80.3% | -85.4% | -76.2% | -38.6% | +491.7% | +583.8% | |
| ROA | -21.3% | -7.0% | -11.3% | -6.8% | -1.7% | -6.7% | -7.2% | -7.5% | 0.1% | -7.9% | -6.7% | 1.1% | -17.6% | -6.0% | 0.3% | 5.6% | 4.0% | 8.2% | 14.0% | 21.4% | 18.0% |
| — | -4.4% | -55.8% | +9.8% | -2105.7% | +15.4% | -8.2% | -752.9% | +100.5% | -31.6% | -2214.7% | -79.7% | -538.7% | -173.2% | -97.7% | -73.6% | -77.7% | -57.5% | +14.8% | +569.7% | +413.1% | |
| ROIC | -26.1% | -9.3% | -14.1% | -7.3% | -2.1% | -7.5% | -8.3% | -8.8% | -0.5% | -9.1% | -7.8% | 0.0% | -11.5% | -9.1% | -1.6% | 7.1% | 5.4% | 12.7% | 29.9% | 60.7% | 77.8% |
| — | -23.6% | -69.2% | +16.4% | -345.7% | +17.0% | -6.1% | -23622.6% | +95.9% | -0.1% | -381.1% | -99.5% | -311.5% | -171.7% | -105.5% | -88.3% | -93.0% | -99.1% | — | +341.4% | +721.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.22 | 0.19 | 0.18 | 0.22 | 0.15 | 0.08 | 0.07 | 0.07 | 0.11 | 0.11 | 0.10 | 0.09 | 0.11 | 0.07 | 0.06 | 0.06 | 0.07 | 0.05 | 0.06 | 0.06 | 0.06 |
| — | +141.5% | +136.7% | +223.2% | +31.5% | -27.2% | -23.3% | -23.6% | +5.1% | +57.2% | +64.3% | +43.0% | +54.3% | +39.7% | +5.9% | -3.1% | +21.7% | -45.2% | -9.0% | -30.0% | -25.1% | |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — | 5.98 | — | — | — | 0.72 | 0.99 | 0.35 | 0.22 | 0.17 | 0.16 |
| — | — | — | — | — | — | — | — | — | — | — | +726.7% | — | — | — | +333.1% | +513.5% | +82.5% | +20.4% | — | — | |
| Current Ratio | 3.29 | 2.29 | 2.41 | 3.29 | 3.93 | 3.93 | 4.22 | 3.67 | 4.39 | 4.09 | 4.03 | 3.42 | 2.46 | 3.39 | 3.46 | 2.73 | 2.10 | 1.99 | 1.77 | 1.76 | 1.35 |
| — | -41.5% | -42.9% | -10.3% | -10.6% | -4.0% | +4.6% | +7.2% | +78.3% | +20.5% | +16.4% | +25.5% | +17.3% | +70.5% | +95.7% | +55.0% | +55.8% | +60.5% | +27.7% | +22.7% | -44.5% | |
| Quick Ratio | 3.22 | 2.18 | 2.35 | 3.22 | 3.73 | 3.77 | 4.14 | 3.62 | 4.20 | 3.92 | 3.91 | 3.36 | 2.35 | 3.16 | 3.26 | 2.54 | 1.80 | 1.71 | 1.56 | 1.60 | 1.25 |
| — | -42.1% | -43.3% | -11.1% | -11.3% | -3.7% | +5.9% | +7.8% | +78.8% | +23.8% | +20.1% | +32.4% | +31.0% | +85.2% | +108.7% | +58.2% | +43.5% | +46.3% | +17.4% | +12.5% | -48.5% | |
| Interest Coverage | -276.80 | — | -77.47 | -99.88 | — | -817.00 | -963.00 | -196.33 | 4.50 | -212.17 | -193.17 | 12.67 | -194.80 | -133.54 | -32.89 | 166.50 | 153.13 | 495.80 | 705.83 | 902.67 | 889.00 |
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Includes 30+ ratios · 36 years · Updated daily
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Quick answers to the most common questions about buying MRNA stock.
Moderna, Inc.'s current P/E is -26.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Moderna, Inc.'s current operating margin is -158.1%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Moderna, Inc.'s business trajectory between earnings reports.