Moderna, Inc. (MRNA) P/E Ratio History
Historical price-to-earnings valuation from 2021 to 2023
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MRNA Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 7, 2026, Moderna, Inc. (MRNA) trades at a price-to-earnings ratio of -6.7x, with a stock price of $48.79 and trailing twelve-month earnings per share of $-8.09.
The current P/E is 127% below its 5-year average of 24.7x. Over the past five years, MRNA's P/E has ranged from a low of 4.3x to a high of 104.8x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Healthcare sector median P/E of 22.1x, MRNA trades at a 130% discount to its sector peers. The sector includes 242 companies with P/E ratios ranging from 0.0x to 178.0x.
Relative to the broader market, MRNA trades at a notable discount to the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our MRNA DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
MRNA P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $2B | 3.7Lowest | - | +307% | |
| $1B | 6.5 | - | +161% | |
| $151B | 19.5 | - | -4% | |
| $541B | 38.8 | - | -58% | |
| $287B | 28.3 | 1.30Best | +191% | |
| $170B | 358.7 | - | -92% | |
| $75B | 17.4 | 2.75 | +8% | |
| $109B | 27.9 | 3.37 | +837%Best | |
| $176B | 26.7 | 12.62 | +7% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
MRNA Historical P/E Data (2021–2023)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $121.50 | $2.73 | 44.5x | +80% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $153.58 | $11.59 | 13.3x | -46% |
| FY2022 Q4 | Sat Dec 31 2022 00:00:00 GM | $179.62 | $19.97 | 9.0x | -64% |
| FY2022 Q3 | Fri Sep 30 2022 00:00:00 GM | $118.25 | $27.64 | 4.3x | -83% |
| FY2022 Q2 | $142.85 | $32.81 | 4.4x | -82% | |
| FY2022 Q1 | $172.26 | $34.03 | 5.1x | -80% | |
| FY2021 Q4 | Fri Dec 31 2021 00:00:00 GM | $253.98 | $28.29 | 9.0x | -64% |
| FY2021 Q3 | $384.86 | $16.31 | 23.6x | -4% | |
| FY2021 Q2 | Wed Jun 30 2021 00:00:00 GM | $234.98 | $8.02 | 29.3x | +19% |
| FY2021 Q1 | Wed Mar 31 2021 00:00:00 GM | $130.95 | $1.25 | 104.8x | +324% |
Average P/E for displayed period: 24.7x
Full MRNA Stock Analysis
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Start ComparisonMRNA — Frequently Asked Questions
Quick answers to the most common questions about buying MRNA stock.
Is MRNA stock overvalued or undervalued?
MRNA trades at -6.7x P/E, below its 5-year average of 24.7x. At the N/A percentile of historical range, the stock is priced at a discount to its own history.
How does MRNA's valuation compare to peers?
Moderna, Inc. P/E of -6.7x compares to sector median of 22.1x. The discount suggests lower growth expectations or higher risk.
What is MRNA's PEG ratio?
MRNA PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2021-2023.