Moderna (MRNA): analysis in plain words
Is Moderna cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Moderna (MRNA) is listed on the Nasdaq and we classify it in healthcare and pharma. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Moderna according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Moderna (MRNA) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $258.38 | Last price on November 4, 2026 |
| P/E ratio (TTM) | N/A | Price over earnings per share |
| Revenue growth | +2.1% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | -141.4% | Profit for every 100 of sales |
| Net debt / EBITDA | N/A | Years of operating profit to repay debt |
| Dividend yield | 0.00% | Annual dividend over price |
| Market cap | $103.2 billion | What the stock market values it at |
The Moderna figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any MRNA figure that is not available shows as N/A: we do not estimate it.
How Moderna makes money
Moderna develops messenger RNA vaccines and medicines. Nearly all of its sales come from respiratory vaccines: Spikevax and mNEXSPIKE for covid and mRESVIA for RSV. It sells to governments, health systems and pharmacies, mainly in the United States and Europe, and funds clinical trials in cancer and rare diseases.
Over the last 12 months, Moderna brought in revenue of $2.2 billion. Its operating margin, what Moderna keeps from every 100 of sales after running costs, is -557.9%. With 4,700 full-time employees, that is about $474,000 of revenue per employee.
Moderna against its sector
To know whether a Moderna figure is high or low you have to put it next to similar companies. This table compares Moderna with the median of the 30 healthcare and pharma companies Fintols covers, with data as of November 4, 2026.
| Figure | Moderna | healthcare and pharma median |
|---|---|---|
| Revenue growth | +2.1% | +8.3% (33) |
| Net margin | -141.4% | 14.9% (33) |
| Dividend yield | 0.00% | 1.52% (33) |
In short, against the typical healthcare and pharma company, Moderna grows more slowly, earns a thinner margin and pays a lower dividend yield. By size, Moderna ranks number 19 of 28 healthcare and pharma companies quoted in USD on Fintols.
The bull case for Moderna
The Moderna figures as of November 4, 2026 show no clear strength against its sector. The bull case would depend on Moderna managing to reach steady profitability, and that is not yet visible in the numbers.
The main risk for Moderna
Moderna is losing money: its net margin over the last 12 months is -141.4%, so it spends more than it brings in. Until it turns a profit it relies on its cash or on raising money.
And, like the rest of healthcare and pharma, Moderna is exposed to a key drug losing patent protection or a clinical trial failing, plus government pressure on prices.
Frequently asked questions about Moderna
Is it a good time to buy Moderna stock?
Fintols does not tell you whether to buy or sell Moderna, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Moderna stock trades at $258.38, 0% below its 52-week high ($258.69) and 1,060% above its low ($22.28). With Moderna, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Moderna pay a dividend?
No. As of November 4, 2026, Moderna does not pay a dividend: what it earns stays in the company to grow, invest or, where it does so, buy back shares. Anyone buying Moderna today is counting on the share price rising, not on income.
Is Moderna stock expensive?
Moderna has no meaningful P/E as of November 4, 2026 because its last 12 months of earnings are negative or close to zero, so that yardstick cannot tell you whether it is expensive. A high P/E alone does not make Moderna expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Moderna's competitors?
On Fintols we compare Moderna with Humana, Dexcom and Edwards Lifesciences, which are also in healthcare and pharma. As of November 4, 2026, Humana is worth $50.1 billion and trades on a P/E of 39.5; Dexcom is worth $33.0 billion and trades on a P/E of 34.8; Edwards Lifesciences is worth $57.3 billion and trades on a P/E of 59.1. Each has a side-by-side comparison with Moderna below.
Moderna competitors
- Humana (HUM) analysis · Moderna vs Humana comparison
- Dexcom (DXCM) analysis · Moderna vs Dexcom comparison
- Edwards Lifesciences (EW) analysis · Moderna vs Edwards Lifesciences comparison
To understand Moderna better
- DCF and WACC Explained: A Practical Valuation Guide
- 7 Common Beginner Investing Mistakes (and How to Avoid Them)
More companies like Moderna: healthcare and pharma stocks and S&P 500 companies. Open the full MRNA analysis with its valuation and scenarios. Educational content about Moderna, not investment advice.