Moderna, Inc. (MRNA) Spending and interest coverage
- R&D / revenue · 12 months: Value 129.08%; Formula and calculation Research and development expense / revenue. Period ending 2026-06-30..
- Stock-based compensation / revenue · 12 months: Value 20.74%; Formula and calculation Share-based compensation / revenue. Period ending 2026-06-30..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | 129.08% | Research and development expense / revenue. Period ending 2026-06-30. $2.88B ÷ $2.23B × 100 ≈ 129.08% |
| Stock-based compensation / revenue · 12 months | 20.74% | Share-based compensation / revenue. Period ending 2026-06-30. $462.00M ÷ $2.23B × 100 ≈ 20.74% |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | 2.88B USD | Research and Development Expense |
| Revenue | 2.23B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | 462.00M USD | Share-based Payment Arrangement, Noncash Expense |
| Operating income | -3.32B USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | $2.88B | $2.23B | $462.00M | $-3.32B | (m) | 129.08% | 20.74% | (m) | (m) |
| 2026-03-31 | $2.92B | $2.23B | $472.00M | $-3.41B | (m) | 131.46% | 21.21% | (m) | (m) |
| 2025-12-31 | $3.13B | $1.94B | $483.00M | $-3.07B | (m) | 161.11% | 24.85% | (m) | (m) |
| 2025-09-30 | $3.48B | $2.23B | $474.00M | $-3.46B | (m) | 155.87% | 21.24% | (m) | (m) |
| 2025-06-30 | $3.81B | $3.08B | $461.00M | $-3.27B | (m) | 123.94% | 14.98% | (m) | (m) |
| 2025-03-31 | $4.34B | $3.18B | $443.00M | $-3.73B | (m) | 136.48% | 13.94% | (m) | (m) |
| 2024-12-31 | $4.54B | $3.24B | $429.00M | $-3.94B | (m) | 140.39% | 13.26% | (m) | (m) |
| 2024-09-30 | $4.83B | $5.08B | $404.00M | $-2.69B | (m) | 95.00% | 7.95% | (m) | (m) |
| 2024-06-30 | $4.85B | $5.05B | $369.00M | $-4.63B | (m) | 96.04% | 7.31% | (m) | (m) |
| 2024-03-31 | $4.78B | $5.15B | $331.00M | $-5.14B | (m) | 92.70% | 6.42% | (m) | (m) |
| 2023-12-31 | $4.84B | $6.85B | $305.00M | $-4.24B | (m) | 70.75% | 4.45% | (m) | (m) |
| 2023-09-30 | $4.65B | $9.12B | $288.00M | $-2.67B | (m) | 50.98% | 3.16% | (m) | (m) |
| 2023-06-30 | $4.31B | $10.65B | $281.00M | $513.00M | (m) | 40.45% | 2.64% | (m) | (m) |
| 2023-03-31 | $3.87B | $15.06B | $257.00M | $4.83B | (m) | 25.71% | 1.71% | (m) | (m) |
| 2022-12-31 | $3.29B | $19.26B | $226.00M | $9.42B | (m) | 17.11% | 1.17% | (m) | (m) |
| 2022-09-30 | $2.73B | $21.39B | $201.00M | $13.25B | (m) | 12.77% | 0.94% | (m) | (m) |
| 2022-06-30 | $2.43B | $23.00B | $171.00M | $15.64B | (m) | 10.58% | 0.74% | (m) | (m) |
| 2022-03-31 | $2.14B | $22.60B | $156.00M | $16.26B | (m) | 9.49% | 0.69% | (m) | (m) |
| 2021-12-31 | $1.99B | $18.47B | $142.00M | $13.30B | (m) | 10.78% | 0.77% | (m) | (m) |
| 2021-09-30 | $2.10B | $11.83B | $131.02M | $7.61B | (m) | 17.77% | 1.11% | (m) | (m) |
| 2021-06-30 | $1.93B | $7.02B | $113.02M | $3.82B | (m) | 27.43% | 1.61% | (m) | (m) |
| 2021-03-31 | $1.66B | $2.73B | $103.02M | $633.86M | (m) | 60.62% | 3.77% | (m) | (m) |
| 2020-12-31 | $1.37B | $803.39M | $93.02M | $-763.14M | (m) | 170.57% | 11.58% | (m) | (m) |
| 2020-09-30 | $729.43M | $246.71M | $87.87M | $-617.71M | (m) | 295.67% | 35.62% | (m) | (m) |
| 2020-06-30 | $504.58M | $105.84M | $85.47M | $-513.36M | (m) | 476.74% | 80.75% | (m) | (m) |
| 2020-03-31 | $481.03M | $52.57M | $83.04M | $-534.94M | (m) | 914.98% | 157.95% | (m) | (m) |
| 2019-12-31 | $496.31M | $60.21M | $81.12M | $-545.72M | (m) | 824.31% | 134.73% | (m) | (m) |
| 2019-09-30 | $529.22M | $81.58M | $92.44M | $-569.66M | (m) | 648.75% | 113.32% | (m) | (m) |
| 2019-06-30 | $518.55M | $106.29M | $86.35M | $-524.62M | (m) | 487.88% | 81.25% | (m) | (m) |
| 2019-03-31 | $494.53M | $122.05M | $79.21M | $-477.70M | (m) | 405.18% | 64.90% | (m) | (m) |
| 2018-12-31 | $454.08M | $135.07M | $72.56M | $-413.27M | (m) | 336.19% | 53.72% | (m) | (m) |
| 2018-09-30 | (m) | $191.55M | (m) | $-302.06M | (m) | (m) | (m) | (m) | (m) |
| 2018-06-30 | (m) | $192.27M | (m) | $-284.12M | (m) | (m) | (m) | (m) | (m) |
| 2018-03-31 | (m) | $204.54M | (m) | $-281.30M | (m) | (m) | (m) | (m) | (m) |
| 2017-12-31 | $410.46M | $205.82M | $40.05M | $-269.36M | (m) | 199.42% | 19.46% | (m) | (m) |
| 2017-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2017-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2017-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2016-12-31 | $274.72M | $108.40M | $39.36M | $-223.77M | (m) | 253.44% | 36.31% | (m) | (m) |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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