Moderna Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-3,116	-3,561	-4,714	8,362	12,202	-747
Depreciation & Amortization	208	189	621	348	232	93
Loss (Gain) From Sale of Investments	-59	-43	-26	31	54	10
Stock-Based Compensation	474	429	305	226	142	93
Other Operating Activities	104	60	7	28	-318	-
Change in Accounts Receivable	503	534	493	1,790	-1,784	-1,385
Change in Inventory	78	83	747	492	-1,394	-47
Change in Accounts Payable	-80	-69	13	240	204	12
Change in Unearned Revenue	-154	-439	-2,060	-4,157	2,824	3,842
Change in Income Taxes	-	-	-	-	876	-
Change in Other Net Operating Assets	64	-187	1,496	-2,379	582	156
Operating Cash Flow	-1,978	-3,004	-3,118	4,981	13,620	2,027
Operating Cash Flow Growth	-	-	-	-63.43%	571.93%	-
Capital Expenditures	-675	-1,051	-707	-400	-284	-68
Cash Acquisitions	-	-	-85	-	-	-
Investment in Securities	2,140	3,000	5,021	-4,736	-8,209	-1,604
Other Investing Activities	-	-	-23	-40	-30	-
Investing Cash Flow	1,455	1,949	4,206	-5,176	-8,523	-1,672
Long-Term Debt Repaid	-	-10	-270	-184	-140	-6
Net Debt Issued (Repaid)	-20	-10	-270	-184	-140	-6
Issuance of Common Stock	30	66	46	65	124	2,039
Repurchase of Common Stock	-1	-	-1,153	-3,329	-857	-
Financing Cash Flow	9	56	-1,377	-3,448	-873	2,033
Net Cash Flow	-513	-999	-289	-3,643	4,224	2,388
Free Cash Flow	-2,653	-4,055	-3,825	4,581	13,336	1,959
Free Cash Flow Growth	-	-	-	-65.65%	580.75%	-
Free Cash Flow Margin	-118.86%	-125.31%	-55.86%	23.78%	72.20%	243.96%
Free Cash Flow Per Share	-6.84	-10.56	-10.01	11.01	30.94	5.14
Cash Interest Paid	24	24	39	25	14	9
Cash Income Tax Paid	197	197	-357	2,729	480	1
Levered Free Cash Flow	-1,984	-3,088	-2,383	3,668	9,293	2,190
Unlevered Free Cash Flow	-1,979	-3,073	-2,359	3,687	9,304	2,196
Change in Working Capital	411	-78	689	-4,014	1,308	2,578

Source: S&P Global Market Intelligence. Standard template. Financial Sources.