Moderna, Inc. Financial Ratios — MRNA Stock

Profitability (USD)

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	59.14	-29.53	-30.11	-32.68
Return on Assets (%)	- -	-20.46	-25.26	-28.94	-16.74	76.25	33.1	-21.29	-21.87	-21.31
Return on Capital (%)	- -	- -	- -	- -	- -	275.6	55.19	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	130.37	45.32	- -	- -	- -
Gross Margin (%)	100	100	100	100	97.08	85.24	71.31	30.52	54.24	54.84
EBITDA Margin (%)	-205.5	-140.6	-317.03	-1,072.92	-267.15	76.27	51.75	-53.57	-117.41	-148.75
Operating Margin (%)	-220.39	-152.2	-337.33	-1,137.5	-278.47	74.97	49.91	-62.76	-123.32	-159.94
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	80.51	-340.3	- -	- -	- -
Pretax Margin (%)	-211.91	-144.65	-313.77	-1,072.92	-271.53	74.9	50.73	-58.37	-112.75	-144.02
Profit Margin (%)	-212.94	-144.61	-314.04	-1,070.83	-272.63	68.8	44.3	-69.8	-111.32	-146.83
Net Income to Common Margin (%)	-218.3	-152.47	-324.65	-1,070.83	-272.63	68.8	44.3	-69.8	-111.32	-146.83
Effective Tax Rate (%)	- -	- -	- -	- -	- -	8.15	12.67	- -	- -	- -
Dvd Payout Ratio (%)	2.45	5.16	3.27	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	59.14	-29.53	-30.11	-32.68

Credit (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	12	16	33	132	237	916	1,200	1,243	747	1,305
ST Debt	- -	- -	- -	- -	30	211	196	25	37	42
LT Debt	12	16	33	132	207	705	1,004	1,218	710	1,263
Total Debt/EBITDA	-0.06	-0.06	-0.09	-0.26	-0.32	0.07	0.12	-0.34	-0.2	-0.46
Net Debt/EBITDA	0.24	0.54	1.7	0.46	3.58	-0.51	-0.33	0.8	0.51	0.7
Total Debt/EBIT	-0.06	-0.06	-0.08	-0.24	-0.31	0.07	0.13	-0.29	-0.19	-0.42
Net Debt/EBIT	0.22	0.5	1.59	0.43	3.44	-0.52	-0.34	0.69	0.49	0.65
EBITDA to Interest Expense	- -	-1,884.99	-125.45	-77.89	-74.04	751.56	336.83	-95.21	-156.5	-285.9
EBITDA-CapEx/Interest Expense	- -	-2,327.42	-159.62	-82.73	-80.92	735.78	323.03	-113.82	-200.29	-306.1
EBIT to Interest Expense	- -	-2,040.58	-133.48	-82.58	-77.18	738.67	324.83	-111.55	-164.38	-307.4
Interest Expense	- -	- -	3	7	10	18	29	38	24	10
Common Equity/Total Assets	-25.81	-57.34	-51.3	-94.15	-30.58	40.37	70.85	73.84	71.03	58.54
Long-Term Debt/Equity (%)	1.48	2.51	2.19	11.27	8.08	4.98	5.25	8.79	6.51	14.6
Long-Term Debt/Capital (%)	1.52	2.75	-3.44	-9.7	-10.31	6.48	5.14	8.2	6.58	14.81
Long-Term Debt/Total Assets (%)	0.88	1.45	1.71	8.33	2.82	2.86	3.88	6.61	5.02	10.24
Total Debt/Equity (%)	1.48	2.51	2.19	11.27	9.25	6.48	6.28	8.97	6.85	15.09
Total Debt/Capital (%)	1.52	2.75	-3.44	-9.7	-11.81	8.42	6.15	8.37	6.92	15.3
Total Debt/Total Assets (%)	0.88	1.45	1.71	8.33	3.23	3.71	4.64	6.75	5.28	10.58
Net Debt to Equity	-5.95	-21.57	-43.02	-20.08	-102.46	-48.41	-16.76	-20.98	-17.68	-23.18
Net Debt/Capital (%)	-6.48	-30.96	40.35	14.74	56.66	-170.09	-19.64	-24.34	-21.74	-33.79
EBITDA	-209	-249	-388	-515	-732	13,528	9,768	-3,618	-3,756	-2,859
EBITDA-CapEx	-242	-307	-494	-547	-800	13,244	9,368	-4,325	-4,807	-3,061
Operating Income (Loss)	-224	-269	-413	-546	-763	13,296	9,420	-4,239	-3,945	-3,074

Liquidity (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	6.5	3.95	6.83	7.71	1.05	1.18	2.01	2.85	3.18	2.92
Current Ratio	6.68	4.09	7.02	7.89	1.43	1.76	2.73	3.42	3.67	3.29
Quick Ratio	6.61	4.04	6.97	7.82	1.37	1.54	2.35	3.21	3.45	3.06
CFO/Avg Current Liab	- -	-1.87	-1.6	-2.51	0.89	2.02	0.71	-0.79	-1.15	-0.89
Common Equity/Total Assets	-25.81	-57.34	-51.3	-94.15	-30.58	40.37	70.85	73.84	71.03	58.54
Long-Term Debt/Equity (%)	1.48	2.51	2.19	11.27	8.08	4.98	5.25	8.79	6.51	14.6
Long-Term Debt/Capital (%)	1.52	2.75	-3.44	-9.7	-10.31	6.48	5.14	8.2	6.58	14.81
Long-Term Debt/Total Assets (%)	0.88	1.45	1.71	8.33	2.82	2.86	3.88	6.61	5.02	10.24
Total Debt/Equity (%)	1.48	2.51	2.19	11.27	9.25	6.48	6.28	8.97	6.85	15.09
Total Debt/Capital (%)	1.52	2.75	-3.44	-9.7	-11.81	8.42	6.15	8.37	6.92	15.3
Total Debt/Total Assets (%)	0.88	1.45	1.71	8.33	3.23	3.71	4.64	6.75	5.28	10.58
CFO/Total Liabilities	11.6	-72.19	-76.61	-110.71	42.44	129.42	73.96	-68.2	-92.69	-50.79
CFO/CapEx	2.01	-5.68	-3.13	-14.34	29.81	47.96	12.45	-4.41	-2.86	-9.27
Altman's Z-Score	-0.03	-0.8	6.44	7.69	4.58	9.24	9.62	6.11	3.76	2.47

Working Capital (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	12.34	6.48	2.99	0.39	7.77	8.28	5.93	5.12	7.09
Days Sales Outstanding	- -	29.58	56.37	122.18	932.79	46.98	44.09	61.53	71.31	51.46
Inventory Turnover	- -	- -	- -	- -	0.34	3.52	4.53	8.15	9.18	6.43
Days Inventory Outstanding	- -	- -	- -	- -	1,072.19	103.77	80.53	44.76	39.77	56.77
Accounts Payable Turnover	- -	- -	- -	- -	4.38	25.07	12.48	7.84	2.98	2.5
Accounts Payable Turnover Days	- -	- -	- -	- -	83.25	14.56	29.24	46.57	122.42	145.76
Cash Conversion Cycle	- -	- -	- -	- -	1,921.72	136.19	95.38	59.71	-11.34	-37.52
Inventory to Cash Days	- -	- -	- -	- -	-139.4	-56.78	-36.44	16.77	31.55	-5.3
Inventories	- -	- -	- -	- -	47	1,441	949	202	117	153
Raw Materials	- -	- -	- -	- -	37	870	575	163	63	91
Work In Process	- -	- -	- -	- -	9	338	205	15	26	29
Finished Goods	- -	- -	- -	- -	1	233	169	24	28	33
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	5,021	6,470	39,838	102,354	70,770	37,990	15,967	11,472
- Cash & Cash Equivalents	50	135	658	236	2,624	6,848	3,205	2,907	1,927	2,595
+ Preferred Equity and Hybrid Capital	1,177	1,177	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	12	16	33	132	237	916	1,200	1,243	747	1,305
Enterprise Value	131	436	3,533	5,500	35,467	92,543	62,068	30,629	9,689	6,978
Total Capital	823	570	-973	-1,364	-2,007	10,874	19,520	14,849	10,792	8,528
Total Debt/Capital (%)	1.52	2.75	-3.44	-9.7	-11.81	8.42	6.15	8.37	6.92	15.3
Total Debt / EV	0.1	0.04	0.01	0.02	0.01	0.01	0.02	0.04	0.08	0.19
EV/Sales	1.29	2.47	28.84	114.58	129.44	5.22	3.29	4.53	3.03	3.63
EV/EBITDA	- -	- -	- -	- -	- -	6.84	6.35	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	6.96	6.59	- -	- -	- -
EV/Cash Flow to Firm	1.96	- -	- -	- -	17.41	6.79	12.4	- -	- -	- -
EV/Free Cash Flow to Firm	1.31	- -	- -	- -	16.85	6.65	11.48	- -	- -	- -
Diluted Market Cap	- -	- -	5,021	6,470	39,838	109,465	74,722	37,990	15,967	11,472
Diluted Enterprise Value	1,139	1,057	4,396	6,367	37,451	103,533	72,717	36,326	14,787	10,182
EV per Share	0.35	1.16	10.74	16.63	93.01	229.64	157.53	80.18	25.23	17.94
TTM Sales	102	177	123	48	274	17,736	18,875	6,754	3,199	1,922
TTM EBITDA	-209	-249	-388	-515	-732	13,528	9,768	-3,618	-3,756	-2,859
TTM Operating Income	-224	-269	-413	-546	-763	13,296	9,420	-4,239	-3,945	-3,074
TTM Cash Flow to Firm	67	-331	-328	-452	2,037	13,637	5,006	-3,073	-2,980	-1,863
TTM Free Cash Flow to Firm	100	-273	-222	-420	2,105	13,921	5,406	-2,366	-1,929	-1,661

Multiples (USD)

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	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	-22.3	-15.15	19.02	7.87	13.89	-15.76	-8.18	-6.87
EV/EBIT	- -	- -	- -	- -	- -	6.96	6.59	- -	- -	- -
Enterprise Value	131	436	3,533	5,500	35,467	92,543	62,068	30,629	9,689	6,978
Low Price	- -	- -	13.03	11.54	17.68	103.26	115.03	62.55	35.8	22.28
EV/Sales	1.29	2.47	28.84	114.58	129.44	5.22	3.29	4.53	3.03	3.63
EV/EBITDA	- -	- -	- -	- -	- -	6.84	6.35	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	8.39	8.46	- -	- -	- -
Price/Earnings Average	- -	- -	-13.59	-11.66	-31.91	8.18	7.38	-9.99	-9.87	-4.02
Price/Earnings High	- -	- -	-18.81	-19.17	-91.12	16.43	11.75	-16.82	-18.38	-6.74
Price/Earnings Low	- -	- -	-10.77	-7.43	-9.03	3.41	5.42	-5.07	-3.86	-3.07
Price/Book Value	- -	- -	-4.99	-4.32	-17.75	10.28	3.86	2.79	1.59	1.59
Price/Book Value Average	- -	- -	-5.37	-4.01	-10.62	10.02	3.37	3.46	3.5	1.57
Price/Book Value High	- -	- -	-7.43	-6.59	-30.33	20.13	5.36	5.83	6.52	2.63
Price/Book Value Low	- -	- -	-4.26	-2.55	-3	4.18	2.47	1.76	1.37	1.2
Price/Tangible Book Value	- -	- -	3.28	5.51	15.56	7.24	3.7	2.76	1.48	1.34
Price/Tangible Book Value Average	- -	- -	3.53	5.1	9.31	7.06	3.23	3.42	3.25	1.33
Price/Tangible Book Value High	- -	- -	4.89	8.39	26.58	14.17	5.14	5.76	6.06	2.22
Price/Tangible Book Value Low	- -	- -	2.8	3.25	2.63	2.94	2.37	1.74	1.27	1.01
Price/Sales	- -	- -	40.98	134.8	145.39	5.77	3.75	5.62	4.99	5.97
Price/Sales Average	- -	- -	44.11	124.87	86.99	5.63	3.27	6.97	10.98	5.9
Price/Sales High	- -	- -	61.06	205.3	248.42	11.3	5.21	11.74	20.46	9.9
Price/Sales Low	- -	- -	34.97	79.53	24.61	2.35	2.4	3.54	4.3	4.51
Price/Cash Flow	- -	- -	-15.17	-14.1	19.65	7.51	14.21	-12.18	-5.32	-6.12
Price/Cash Flow Average	- -	- -	-16.33	-13.06	11.76	7.33	12.39	-15.1	-11.7	-6.05
Price/Cash Flow High	- -	- -	-22.61	-21.47	33.58	14.72	19.73	-25.42	-21.79	-10.16
Price/Cash Flow Low	- -	- -	-12.95	-8.32	3.33	3.06	9.1	-7.66	-4.58	-4.63
Price/Free Cash Flow Average	- -	- -	-24	-14.04	11.38	7.68	12.11	-19.53	-17.99	-6.78
Price/Free Cash Flow High	- -	- -	-33.23	-23.08	32.49	15.42	19.28	-32.88	-33.52	-11.39
Price/Free Cash Flow Low	- -	- -	-19.03	-8.94	3.22	3.2	8.89	-9.91	-7.04	-5.19
EV/Sales Average	11.22	5.98	39	122.72	78.28	5.29	3.16	6.73	10.61	5.23
EV/Sales High	11.22	5.98	55.96	203.15	239.71	10.97	5.1	11.49	20.09	9.23
EV/Sales Low	11.22	5.98	29.87	77.37	15.89	2.01	2.29	3.29	3.93	3.84
EV/EBITDA Average	-5.46	-4.25	-12.3	-11.44	-29.3	6.94	6.11	-12.56	-9.04	-3.51
EV/EBITDA High	-5.46	-4.25	-17.65	-18.93	-89.73	14.38	9.86	-21.45	-17.11	-6.2
EV/EBITDA Low	-5.46	-4.25	-9.42	-7.21	-5.95	2.64	4.43	-6.14	-3.35	-2.58
EV/EBIT Average	-5.09	-3.93	-11.56	-10.79	-28.11	7.06	6.34	-10.72	-8.61	-3.27
EV/EBIT High	-5.09	-3.93	-16.59	-17.86	-86.08	14.63	10.22	-18.31	-16.29	-5.77
EV/EBIT Low	-5.09	-3.93	-8.85	-6.8	-5.71	2.68	4.6	-5.24	-3.19	-2.4
Last Price	- -	- -	15.27	19.56	104.47	253.98	179.62	99.45	41.58	29.49
High Price	- -	- -	22.75	29.79	178.5	497.49	249.42	207.51	170.47	48.92
Enterprise Value Average	1,139	1,057	4,779	5,890	21,448	93,881	59,704	45,432	33,953	10,047
Enterprise Value High	1,139	1,057	6,855	9,751	65,681	194,556	96,266	77,605	64,280	17,740
Enterprise Value Low	1,139	1,057	3,659	3,714	4,355	35,682	43,317	22,230	12,567	7,377

Shares Outstanding	324	324	329	337	399	403	385	382	386	394
Diluted Weighted Avg Shares	376	376	329	331	381	431	416	382	384	389
Basic Weighted Avg Shares	376	376	329	331	381	403	394	382	384	389
Revenue per Share	0.27	0.47	0.37	0.15	0.72	44.01	47.91	17.68	8.33	4.94
EBITDA per Share	-0.55	-0.66	-1.18	-1.56	-1.92	33.57	24.79	-9.47	-9.78	-7.35
Operating Income per Share	-0.6	-0.72	-1.26	-1.65	-2	32.99	23.91	-11.1	-10.27	-7.9
Basic EPS, GAAP	-0.59	-0.72	-1.21	-1.55	-1.96	30.28	21.22	-12.34	-9.27	-7.25
Basic EPS from Cont Ops	-0.58	-0.68	-1.17	-1.55	-1.96	30.28	21.22	-12.34	-9.27	-7.25
Diluted EPS, GAAP	-0.59	-0.72	-1.21	-1.55	-1.96	28.31	20.1	-12.34	-9.27	-7.25
Diluted EPS from Cont Ops	-0.58	-0.68	-1.17	-1.55	-1.96	28.31	20.1	-12.34	-9.27	-7.25
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.18	-0.88	-1.01	-1.39	5.32	33.8	12.64	-8.16	-7.82	-4.81
Free Cash Flow per Basic Share	0.09	-1.04	-1.33	-1.48	5.14	33.09	11.63	-10.01	-10.56	-5.33
Cash & Equivalents per Share	2.81	2.01	4.63	3.33	12.08	26.62	25.13	22.52	18.29	14.91
Book Value per Share	-0.97	-1.65	-3.06	-4.52	-5.88	24.71	46.5	35.62	26.16	18.57
Tangible Book Value per Share	-0.89	-1.47	4.65	3.55	6.72	35.1	48.54	36.02	28.15	21.99

Moderna, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)