From StructYou came from “Moderna is priced like a growth winner at 10.6x EV/sales, even as revenue slid to $1.9B and margins crateredBack to the brief ↗Feed / MRNA

Moderna, Inc.

MRNA

Healthcare · 54.84 -5.3% today

Jodie read · what matters now

The market values Moderna at a $22.5B market cap and 10.6x EV/sales while 2025 revenue fell to $1.9B and operating margin plunged to -158.1%. Filings keep flagging excess capacity, purchase commitments and inventory hits.

The story is only the start. Jodie keeps watching the filing evidence, the companies connected to MRNA, and whether its market group begins moving.

Revenue YoY-39.9%2025-12-31
Operating margin-158.1%-36.2 pts YoY
Latest story10-Q · Jul 31, 2026Read on Struct ↗
Disclosed connections26 verified links23 additional receipts in Pro
Organic co-movement groupGene Editing Therapies · Early FollowerDiscovered from trading behaviour, not sector labels · Open group →

Who this business touches

The relationships behind MRNA

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

MRKMerck & Company, Inc.partnerFull receipt with Pro →
IMTXImmatics N.V.partnerFull receipt with Pro →

Depended on by

PSNL25.0% of PSNLcustomerFull receipt with Pro →

Filing peers

Companies whose filings use similar operating language.

You can see the shape of the network here. Pro opens 23 more links, the original filing receipts, and alerts when connected names begin moving. See Pro →

What is moving around it

Live connections

MRNA is currently a Early Follower in the organic co-movement group Gene Editing Therapies. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Theme membership history

No durable theme membership has been observed for this name yet.