MRNA Free Cash Flow History: $-2.06B (FY2025)

Fiscal year	Q1	Q2	Q3	Q4
FY26	−$692M+40.0%	Not reported	Not reported	Not reported
FY25	−$1.2B+2.6%	−$922M+36.7%	−$880M+48.7%	$891M+194.1%
FY24	−$1.2B+11.4%	−$1.5B−26.7%	−$1.7B+1.3%	$303M−24.6%
FY23	−$1.3B−150.9%	−$1.1B−629.5%	−$1.7B−1167.5%	$402M−74.4%
FY22	$2.6B−10.4%	$217M−94.6%	$163M−94.9%	$1.6B−50.8%
Share	40%	17%	14%	29%

01—History

Free Cash Flow History

Year-over-year comparison from 10-K annual reports · Dashed line: constant growth FY2020–FY2025. Drag across the bars to change the range.

−$2.06B

YoY changeLargest recent move+580.8%in FY21Latest +49.1%

4 older moves run past ±150% (largest −1260.7%); point at, tap or drag across the bars to read one.

02—Ledger

Free Cash Flow, period by period

Period	Value	Change	Source
FY2025	−$2.06B	+49.1%	10-K
FY2024	−$4.05B	−6.0%	10-K
FY2023	−$3.83B	−183.5%	10-K
FY2022	$4.58B	−65.6%	10-K
FY2021	$13.34B	+580.8%	10-K
FY2020	$1.96B	+499.0%	10-K
FY2019	−$491.0M	−12.5%	10-K
FY2018	−$436.6M	−12.0%	10-K
FY2017	−$389.9M	−1260.7%	10-K
FY2016	$33.6M	—	10-K

03—Questions

What is Moderna, Inc.'s current free cash flow?

Moderna, Inc. (MRNA) annual free cash flow for 2025 was $-2.06B, a 49.08% increase from 2024. Moderna, Inc. free cash flow for the quarter ending March 31, 2026 was $-692.0M.

What was Moderna, Inc.'s free cash flow in 2024?

Moderna, Inc. annual free cash flow for 2024 was $-4.05B, a 6.01% decline from 2023.

What was Moderna, Inc.'s free cash flow in 2023?

Moderna, Inc. annual free cash flow for 2023 was $-3.83B, a 183.50% decline from 2022.

Company: Moderna, Inc.
Ticker: MRNA
Sector: Healthcare
Industry: Biological Products, (No Diagnostic Substances)

Moderna, Inc. Free Cash Flow 2016-2026 | MRNA

Key Statistics