# Moderna, Inc. (MRNA) · Edgar & Edgarette company card

> Moderna (MRNA) saw revenue fall 39.9% in FY2025 to $1.9 billion, operating margin -158% against a -15.8% median for biological products, (no diagnostic substances), equity 70.1% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1682852 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/MRNA) · [JSON](https://www.pops4.com/boards/company/MRNA.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $1.9B |
| Revenue growth, 1 year | -39.9% |
| Revenue growth per year | -43.0% |
| Operating margin | -158.1% (prior year -121.9%) |
| Net margin | -145.2% |
| Operating cash flow | −$1.9B |
| Capital spending | $192M |
| Free cash flow | −$2.1B |
| Cash | $2.6B |
| Long-term debt | $590M |
| Total assets | $12.3B |
| Total equity | $8.7B |
| Equity ÷ assets | 70.1% |
| Return on equity | -32.6% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 5.12 (safe zone)
- Piotroski F: 3 of 9 (middling)
- Health Harbor boat: Rotting at the dock · four or more warning signs · slow and jumpy: growing slower than its size class, with revenue that swings more; operating cash flow was negative; operating loss: a margin of -158.1% in FY2025; revenue is hard to predict: its 80% range is ±46%
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue $1.9B (FY2025), total debt $590.0M. Experience: revenue down 39.9% on the year, down 43.0% a year over 4 years; operating margin -158.1%, down from -121.9%. Soundness: equity 70.1% of assets, return on equity -32.6%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $614.7M and $1.7B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $426.9M to $2.4B. A statistical range, not company guidance. Against peers (31 filers, $50M+ revenue, biological products, (no diagnostic substances)): operating margin -158.1% against a -15.8% median; growth -39.9% against 21.4%.

Range logged 2026-10-01, receipt 46ce57705f63119b, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 3, latest 2026-11-13 ([filing](https://www.sec.gov/Archives/edgar/data/1682852/000168285226000205/0001682852-26-000205-index.htm))

## Recent filings

- 8-K · filed 2026-11-13 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1682852/000168285226000205/0001682852-26-000205-index.htm)
- 10-Q · filed 2026-11-06 · [filing](https://www.sec.gov/Archives/edgar/data/1682852/000168285226000197/0001682852-26-000197-index.htm)
- 8-K · filed 2026-11-06 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1682852/000168285226000194/0001682852-26-000194-index.htm)
- 8-K · filed 2026-09-30 · 5.02 Departure or Election of Directors; Appointment of Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1682852/000119312526408289/0001193125-26-408289-index.htm)
- 8-K · filed 2026-09-01 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 3.02 Unregistered Sales of Equity Securities; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1682852/000119312526378505/0001193125-26-378505-index.htm)
- 10-Q · filed 2026-07-31 · [filing](https://www.sec.gov/Archives/edgar/data/1682852/000168285226000150/0001682852-26-000150-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001682852.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1682852

## Cite

POPS4, Edgar & Edgarette: Moderna, Inc. (MRNA) company card, from the company's own SEC filings, accessed 2026-11-15, https://www.pops4.com/boards/company/MRNA. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.