TTM
-13.9%
YoY change
+1.11pp
Trough year (2023)
31.5%
Peak year (2020)
95.1%
Latest annual
55.3%
Gross Margin history chart for Moderna (MRNA) from 2016 to 2025
Latest: 55.3%
Gross Margin change chart for Moderna (MRNA) from 2016 to 2025
Latest: +1.11pp
Gross Margin history table for Moderna (MRNA) from 2016 to 2025
| 2025 | 55.3% | +1.11pp | ||
| 2024 | 54.2% | +22.77pp | ||
| 2023 | 31.5% | -39.84pp | ||
| 2022 | 71.3% | -13.94pp | ||
| 2021 | 85.2% | -9.88pp | ||
| 2020 | 95.1% | +46.64pp | ||
| 2019 | 48.5% | -33.12pp | ||
| 2018 | 81.6% | -8.43pp | ||
| 2017 | 90.0% | +3.97pp | ||
| 2016 | 86.1% | — |
- 202555.3%+1.11pp
- 202454.2%+22.77pp
- 202331.5%-39.84pp
- 202271.3%-13.94pp
- 202185.2%-9.88pp
- 202095.1%+46.64pp
- 201948.5%-33.12pp
- 201881.6%-8.43pp
- 201790.0%+3.97pp
- 201686.1%—
Gross Margin values are taken from Moderna's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Gross Margin at Moderna (MRNA)
According to Moderna's latest reported financial statements, the company's latest reported gross margin is -13.9%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of Moderna (MRNA) gross margin is 55.35% – expanded 1.1 percentage points year-over-year.
2020 marks the peak gross margin at 95.12%, with the historical low of 31.47% recorded in 2023.
Moderna Gross Margin by Year
Moderna Gross Margin 2025: 55.3%
Moderna posted gross margin of 55.35% in 2025, expanded 1.1 percentage points from 2024.
Moderna Gross Margin 2024: 54.2%
In 2024, Moderna reported gross margin of 54.24%, expanded 22.8 percentage points from 2023.
Moderna Gross Margin 2023: 31.5%
Moderna gross margin in 2023 was 31.47%, contracted 39.8 percentage points from 2022. This figure represents the lowest annual value in the available history.
Moderna Gross Margin 2022: 71.3%
2022's gross margin for Moderna came in at 71.31%, contracted 13.9 percentage points from 2021.
Moderna Gross Margin 2021: 85.2%
Moderna gross margin in 2021 was 85.24%.
See more financial history for Moderna (MRNA).
Sector peers by Gross Margin
Healthcare peers of Moderna (MRNA), ranked by their latest gross margin
| 83.5% | |
| 81.8% | |
| 81.7% | |
| 75.9% | |
| 71.5% | |
| 70.7% | |
| 70.0% | |
| 18.8% |
- 83.5%
- 81.8%
- 81.7%
- 75.9%
- 71.5%
- 70.7%
Frequently asked questions
Moderna (MRNA) Key Financials
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