Stock Analysis on Net

Moderna Inc. (NASDAQ:MRNA)

This company has been moved to the archive! The financial data has not been updated since November 7, 2024.

Enterprise Value to EBITDA (EV/EBITDA) 

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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Moderna Inc., EBITDA calculation

US$ in millions

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income (loss) (4,714) 8,362 12,202 (747) (514)
Add: Income tax expense 772 1,213 1,083 3 (1)
Earnings before tax (EBT) (3,942) 9,575 13,285 (745) (515)
Add: Interest expense 38 29 18 10 7
Earnings before interest and tax (EBIT) (3,904) 9,604 13,303 (735) (508)
Add: Depreciation and amortization 621 348 232 31 31
Earnings before interest, tax, depreciation and amortization (EBITDA) (3,283) 9,952 13,535 (703) (477)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Moderna Inc. EBITDA decreased from 2021 to 2022 and from 2022 to 2023.

Enterprise Value to EBITDA Ratio, Current

Moderna Inc., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV) 11,320
Earnings before interest, tax, depreciation and amortization (EBITDA) (3,283)
Valuation Ratio
EV/EBITDA
Benchmarks
EV/EBITDA, Competitors1
AbbVie Inc. 28.44
Amgen Inc. 15.95
Bristol-Myers Squibb Co. 50.71
Danaher Corp. 22.14
Eli Lilly & Co. 53.20
Gilead Sciences Inc. 35.15
Johnson & Johnson 16.39
Merck & Co. Inc. 9.68
Pfizer Inc. 10.32
Regeneron Pharmaceuticals Inc. 11.92
Thermo Fisher Scientific Inc. 18.65
Vertex Pharmaceuticals Inc. 247.83
EV/EBITDA, Sector
Pharmaceuticals, Biotechnology & Life Sciences 22.79
EV/EBITDA, Industry
Health Care 19.26

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

Moderna Inc., historical EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 28,826 44,973 51,004 57,415 8,579
Earnings before interest, tax, depreciation and amortization (EBITDA)2 (3,283) 9,952 13,535 (703) (477)
Valuation Ratio
EV/EBITDA3 4.52 3.77
Benchmarks
EV/EBITDA, Competitors4
AbbVie Inc. 20.79 13.31 13.44 21.34
Amgen Inc. 14.13 12.97 13.22 12.24
Bristol-Myers Squibb Co. 6.51 9.46 8.65 34.35
Danaher Corp. 26.41 18.42 21.05 26.68
Eli Lilly & Co. 85.33 37.74 29.85 23.67
Gilead Sciences Inc. 10.41 13.89 8.57 24.90
Johnson & Johnson 16.45 14.78 14.47 18.20
Merck & Co. Inc. 51.30 13.91 12.18 16.05
Pfizer Inc. 22.50 6.12 8.64 15.78
Regeneron Pharmaceuticals Inc. 20.16 15.27 6.68 12.70
Thermo Fisher Scientific Inc. 21.83 20.25 20.21 18.72
Vertex Pharmaceuticals Inc. 21.57 14.91 18.92 14.81
EV/EBITDA, Sector
Pharmaceuticals, Biotechnology & Life Sciences 22.59 13.58 13.16 18.90
EV/EBITDA, Industry
Health Care 18.98 13.71 13.87 16.50

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 See details »

2 See details »

3 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 28,826 ÷ -3,283 =

4 Click competitor name to see calculations.