This is the standing evidence sheet for Moderna (MRNA): the yardsticks BullScope computes from official SEC filings and market prices. It refreshes whenever a new edition of our research is published, and it is impersonal by design, every reader sees the same page. Nothing here is investment advice; it is the evidence, organized.
The price tag: what buyers pay per dollar of profit
Today the market pays about $6.6 for each $1 of Moderna’s annual profit (a price-to-earnings ratio of 6.6). Across its own past decade the typical price tag was 4.0, which puts today at roughly the 95th percentile of the company’s own history.
The tape: what the stock itself has done
- Last price: $150.81 (end-of-day market data as of the edition date · methodology) · 14% below its 52-week high
- Past 6 months: +160.9% · past 12 months: +523.4%
- Day-to-day temperament: jumpy (annualized volatility 192%)
The filed record: straight from the annual reports
| Fiscal year | Revenue | Growth | Operating margin | EPS |
|---|---|---|---|---|
| FY2021 | $18.5B | , | 72.0% | $28.29 |
| FY2022 | $19.3B | +4.3% | 48.9% | $20.12 |
| FY2023 | $6.8B | -64.4% | -61.9% | $-12.33 |
| FY2024 | $3.2B | -52.7% | -121.9% | $-9.28 |
| FY2025 | $1.9B | -39.9% | -158.1% | $-7.26 |
The road ahead: filed results vs published expectations
| FY2023A | FY2024A | FY2025A | FY2026E | FY2027E | FY2028E | |
|---|---|---|---|---|---|---|
| Net sales ($B) | 6.8 | 3.2 | 1.9 | 1.5 to 2.2 | 0.9 to 3.5 | 0.6 to 3.5 |
| Net sales growth (%) | -64 | -53 | -41 | -16 | -40 | -33 |
| Operating margin (%) | -62 | -122 | -163 | -175 to -120 | -280 to -90 | -350 to -60 |
| Diluted EPS ($) | -12.33 | -9.28 | -7.26 | -9.50 to -5.50 | -14.00 to -3.00 | -16.00 to -2.50 |
Columns marked A are actual filed results; E columns are the published consensus ranges the current price is being weighed against.
The four gauges: from the latest edition
BullScope coverage of Moderna
- Moderna at 28 Times Sales: One Trial Result Is Doing a Lot of Work
- Moderna raises $2.6 billion in zero-coupon convertibles as revenue collapses, betting oncology turnaround
Read the full report on Moderna in the BullScope Terminal → It opens with this company loaded.
Edition date: 2026-08-21. This page updates when a new edition is published. Sources: SEC EDGAR filings, Nasdaq prices; computed by BullScope’s published methodology.
