Free Cash Flow for Moderna (MRNA)
Free Cash Flow for Moderna (MRNA): headline value -$2.05B · YoY -49.1%. Annual and quarterly series, chart, and tables are below.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
MRNA
Currently viewingFree Cash FlowSwitch metric
Latest period
-$2.05B
YoY change
-49.1%
5Y CAGR
N/A
Peak year (2021)
$13.34B
Latest annual
-$2.06B
Free Cash Flow history chart for Moderna (MRNA) from 2016 to 2025
Free Cash Flow history table for Moderna (MRNA) from 2016 to 2025
| Fiscal year | Period ended | Reported | Free Cash Flow | YoY |
|---|---|---|---|---|
| 2025 | -$2.06B | -49.1% | ||
| 2024 | -$4.05B | +6.0% | ||
| 2023 | -$3.83B | -183.5% | ||
| 2022 | $4.58B | -65.6% | ||
| 2021 | $13.34B | +580.6% | ||
| 2020 | $1.96B | -499.5% | ||
| 2019 | -$490.52M | +12.3% | ||
| 2018 | -$436.63M | +12.0% | ||
| 2017 | -$389.88M | -1260.7% | ||
| 2016 | $33.59M | — |
Free Cash Flow values are taken from Moderna's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
As of the 2025 fiscal year, Moderna (MRNA) reported free cash flow of -$2.06B – plunged 49.1% year-over-year.
Moderna free cash flow plunged from $13.34B in 2021 to -$2.06B in 2025, a 115.5% drawdown.
2021 marks the peak free cash flow at $13.34B, with the historical low of -$4.05B recorded in 2024.
Among 8 Healthcare peers, Moderna (MRNA) ranks 9th; the peer median for free cash flow is $14.22B.
Moderna Free Cash Flow by Year
Moderna Free Cash Flow 2025: -$2.06B
Moderna free cash flow in 2025 was -$2.06B, plunged 49.1% below 2024.
Moderna Free Cash Flow 2024: -$4.05B
Moderna free cash flow in 2024 was -$4.05B, grew 6.0% from 2023. This figure represents the lowest annual value in the available history.
Moderna Free Cash Flow 2023: -$3.83B
Moderna free cash flow in 2023 was -$3.83B, plunged 183.5% below 2022.
Moderna Free Cash Flow 2022: $4.58B
Moderna free cash flow in 2022 was $4.58B, plunged 65.6% below 2021.
Moderna Free Cash Flow 2021: $13.34B
Moderna free cash flow in 2021 was $13.34B.
See more financial history for Moderna (MRNA).
Sector peers — Free Cash Flow
Companies in the same sector as Moderna, ranked by their latest free cash flow.
| Company | Free Cash Flow | Sector |
|---|---|---|
| Novo Nordisk A/S (NVO) | $28.99B | Healthcare |
| Johnson & Johnson (JNJ) | $19.70B | Healthcare |
| AbbVie Inc. (ABBV) | $17.82B | Healthcare |
| UnitedHealth Group Incorporated (UNH) | $16.07B | Healthcare |
| Merck & Co., Inc. (MRK) | $12.36B | Healthcare |
| AstraZeneca PLC (AZN) | $11.77B | Healthcare |
| Eli Lilly and Company (LLY) | $8.97B | Healthcare |
| Amgen Inc. (AMGN) | $8.10B | Healthcare |
Frequently asked questions
What is Moderna's free cash flow?
Latest reported free cash flow for Moderna (MRNA) is -$2.05B (period ending December 31, 2025).
How has Moderna free cash flow changed year-over-year?
Moderna (MRNA) free cash flow changed -49.1% year-over-year on the latest annual filing.
When did Moderna free cash flow hit its highest annual value?
Moderna free cash flow reached its highest annual value of $13.34B in 2021.
What was Moderna free cash flow in 2024?
Moderna (MRNA) free cash flow in 2024 was -$4.05B.
What was Moderna free cash flow in 2025?
Moderna (MRNA) free cash flow in 2025 was -$2.06B.
Metrics overview
Pick a metric for charts, filings and peers — each row shows the latest TTM or most-recent-quarter value.
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