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Moderna Valuation Multiples

Discover revenue and EBITDA valuation multiples for Moderna and similar public comparables like AstraZeneca India, GSK India, and Prescient Therapeutics.

Moderna Overview

About Moderna

Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its covid vaccine, which was authorized in the United States in December 2020. Moderna had 40 mRNA development candidates in clinical development as of September 2024. Programs span a wide range of therapeutic areas, including infectious disease, oncology, cardiovascular disease, and rare genetic diseases.


Founded

2016

HQ

United States of America
Employees

5.8K+

Website

modernatx.com

Financials

LTM Revenue $2.9B

LTM EBITDA -$3.8B

EV

$4.1B

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Moderna Financials

Moderna has a last 12-month revenue of $2.9B and a last 12-month EBITDA of -$3.8B.

In the most recent fiscal year, Moderna achieved revenue of $3.2B and an EBITDA of -$3.4B.

Moderna expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Moderna P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $6.8B $3.2B XXX XXX XXX
Gross Profit $13.5B $2.1B XXX XXX XXX
Gross Margin 199% 64% XXX XXX XXX
EBITDA -$3.3B -$3.4B XXX XXX XXX
EBITDA Margin -49% -106% XXX XXX XXX
Net Profit $8.4B -$4.7B XXX XXX XXX
Net Margin 124% -147% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Moderna Stock Performance

As of April 15, 2025, Moderna's stock price is $27.

Moderna has current market cap of $10.4B, and EV of $4.1B.

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Moderna Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$4.1B $10.4B XXX XXX XXX XXX $-9.56

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Moderna Valuation Multiples

As of April 15, 2025, Moderna has market cap of $10.4B and EV of $4.1B.

Moderna's trades at 1.4x LTM EV/Revenue multiple, and -1.1x LTM EBITDA.

Analysts estimate Moderna's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Moderna Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $4.1B XXX XXX XXX
EV/Revenue 1.3x XXX XXX XXX
EV/EBITDA -1.2x XXX XXX XXX
P/E -2.9x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -1.0x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Moderna Valuation Multiples

Moderna's NTM/LTM revenue growth is -23%

Moderna's revenue per employee for the last fiscal year averaged $0.6M, while opex per employee averaged $1.0M for the same period.

Over next 12 months, Moderna's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Moderna's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Moderna Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -53% XXX XXX XXX XXX
EBITDA Margin -106% XXX XXX XXX XXX
EBITDA Growth 3% XXX XXX XXX XXX
Rule of 40 (SaaS-only) -129% XXX XXX XXX XXX
Revenue per Employee $0.6M XXX XXX XXX XXX
Opex per Employee $1.0M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue 142% XXX XXX XXX XXX
Opex to Revenue 178% XXX XXX XXX XXX

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Moderna Public Comps

See public comps and valuation multiples for Vaccines & Immunotherapies and Drug Development & Therapeutics comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
CSL XXX XXX XXX XXX XXX XXX
Imugene XXX XXX XXX XXX XXX XXX
Prescient Therapeutics XXX XXX XXX XXX XXX XXX
GSK India XXX XXX XXX XXX XXX XXX
AstraZeneca India XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Moderna M&A and Investment Activity

Moderna acquired  XXX companies to date.

Last acquisition by Moderna was  XXXXXXXX, XXXXX XXXXX XXXXXX . Moderna acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Moderna

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Moderna

When was Moderna founded? Moderna was founded in 2016.
Where is Moderna headquartered? Moderna is headquartered in United States of America.
How many employees does Moderna have? As of today, Moderna has 5.8K+ employees.
Who is the CEO of Moderna? Moderna's CEO is Mr. Stephane Bancel.
Is Moderna publicy listed? Yes, Moderna is a public company listed on NAS.
What is the stock symbol of Moderna? Moderna trades under MRNA ticker.
When did Moderna go public? Moderna went public in 2018.
Who are competitors of Moderna? Similar companies to Moderna include e.g. CSL, Imugene, Prescient Therapeutics, GSK India.
What is the current market cap of Moderna? Moderna's current market cap is $10.4B
What is the current revenue of Moderna? Moderna's last 12-month revenue is $2.9B.
What is the current EBITDA of Moderna? Moderna's last 12-month EBITDA is -$3.8B.
What is the current EV/Revenue multiple of Moderna? Current revenue multiple of Moderna is 1.4x.
What is the current EV/EBITDA multiple of Moderna? Current EBITDA multiple of Moderna is -1.1x.
What is the current revenue growth of Moderna? Moderna revenue growth between 2023 and 2024 was -53%.
Is Moderna profitable? Yes, Moderna is EBITDA-positive (as of the last 12 months).

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