A company still losing money with steady sales, with elevated risk. Institutions are adding.
Going well
Buying back shares: share count down 6.5% in 3 years
Little debt
Watch out for
About 17 months of cash left at its current burn
Losing money, losses are large next to sales
Revenue down 39.9% from the year before
Money moves
Insiders sold $17.0M in the last 30 days, all through pre-planned sales
Institutions added 3.5% to their holdings in the quarter ending June 2026 (387 bought, 318 sold)
Held by Ray Dalio (Bridgewater)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$198.79-0.7% that day
Company value
$79.4B
Share price times all shares
Price vs sales
35.6x
No profit over the last year, so this compares value with sales instead
Cash vs value
2%
Cash as a share of company value
Debt vs value
1%
Debt as a share of company value
From MRNA's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26
$145.0M+2.1% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $2.2B, down 28% from the 12 months before. Over 5 years, sales grew about 19% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of MRNA. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$1.3B
Profit in 5 years$132M
Price these guesses point to$5.47-97% vs $198.79 todayAbout -51% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales would have to grow about 85% a year for 5 years just to match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
Forum talk counts mentions of MRNA in popular online stock forums, a slice of the internet rather than all of it. Company lookups show interest in the company itself, which can come from news that isn't about the stock. Attention isn't quality.
Business quality
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
2/6Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-28.9%
PassDebt under half of equityNot relying on borrowed money.0.07x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-145.2%
MissProfitable every yearSteady profits, not one good year.2 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$2.1B
PassShare count not growingNot diluting owners. Falling means buybacks.-6.5% in 3 years
Revenue
$1.9B
-39.9% vs prior year
5-year growth
+19.3%/yr
revenue, per year
Total debt
$590.0M
0.07x equity
Current ratio
3.29x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Jul 31
Revenue
$145.0M
+2.1% YoY
EPS
-$1.97
vs -$2.13
Op. margin
-562.1%
+76.6 pts
Gross margin
35.9%
+19.7 pts
Free cash flow
-$563.0M
Share count
+2.6%
vs a year ago
Insider rating
Last 90 days
43Mixed
Pre-planned sales of $17.0M (weaker signal)
50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.
Weekly insider trend
13 weeks agoBoughtSoldThis week
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
2.2
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+3.5%
Institutions added 3.5% to their holdings. 387 bought, 318 sold. 3 quarters of net buying in a row.
Shares held by institutions318.8M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+1.6%
Cash runwayAt last year's cash burn
11 months
Debt to equityLatest balance sheet: debt compared with what owners have
0.1x · $591.0M debt
Shares outstandingLatest reported
399M
Why high risk
Losing money, losses are large next to sales
About 11 months of cash left at its current burn
Revenue down 39.9% from the year before
1 offering filing in 6 months (may sell new shares)
Earnings reports
Last 12
Next reportAround Nov 5 (est.)Estimated from the same quarter last year
Results filedJul 31
Results filedMay 1
Results filedFeb 13
Results filedJan 12
Results filedNov 6, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days