Moderna, Inc. (VIE:MRNA)

Moderna Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-2,822	-3,561	-4,714	8,362	12,202
Depreciation & Amortization	215	189	621	348	232
Stock-Based Compensation	483	429	305	226	142
Other Adjustments	18	17	-19	59	-264
Change in Receivables	156	534	493	1,790	-1,784
Changes in Inventories	-34	83	747	492	-1,394
Changes in Accounts Payable	-92	-69	13	240	204
Changes in Accrued Expenses	-2	-385	-340	612	989
Changes in Income Taxes Payable	-	-	-	-	876
Changes in Unearned Revenue	41	-439	-2,060	-4,157	2,824
Changes in Other Operating Activities	164	198	1,836	-2,991	-407
Operating Cash Flow	-1,873	-3,004	-3,118	4,981	13,620
Operating Cash Flow Growth	-	-	-	-63.43%	571.93%
Capital Expenditures	-192	-1,051	-707	-400	-284
Purchases of Intangible Assets	-10	-	-	-	-
Purchases of Investments	-5,768	-6,529	-3,783	-11,475	-12,682
Proceeds from Sale of Investments	7,916	9,529	8,781	6,699	4,443
Payments for Business Acquisitions	-	-	-85	-	-
Investing Cash Flow	1,946	1,949	4,206	-5,176	-8,523
Short-Term Debt Issued	600	-	-	-	-
Net Short-Term Debt Issued (Repaid)	600	-	-	-	-
Issuance of Common Stock	35	66	46	65	124
Repurchase of Common Stock	-	-	-	-3,329	-857
Net Common Stock Issued (Repurchased)	35	66	46	-3,264	-733
Other Financing Activities	-42	-10	-1,423	-184	-140
Financing Cash Flow	593	56	-1,377	-3,448	-873
Effect of Exchange Rate Changes on Cash and Cash Equivalents	2	-	-	-	-
Net Cash Flow	668	-999	-289	-3,643	4,224
Free Cash Flow	-2,065	-4,055	-3,825	4,581	13,336
Free Cash Flow Growth	-	-	-	-65.65%	580.75%
FCF Margin	-106.22%	-125.31%	-55.86%	23.78%	72.20%
Free Cash Flow Per Share	-5.31	-10.56	-10.01	11.01	30.94
Levered Free Cash Flow	-2,122	-5,035	-4,604	2,506	15,242
Unlevered Free Cash Flow	-3,034	-5,369	-4,959	2,371	15,252

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.