Moderna vs Pfizer: Business Model & Financial Comparison 2026
Moderna · Healthcare / Biotechnology·Pfizer · Healthcare / Drug Manufacturers - General
Financial Comparison
| Metric | MRNAModerna | PFEPfizer |
|---|---|---|
| Market Cap | $21.09B | $152.73B |
| Revenue (TTM) | $1.94B | $62.58B |
| Revenue Growth | -29.8% | -1.2% |
| Gross Margin | -105.8% | 75.8% |
| Operating Margin | -126.4% | 23.9% |
| Net Margin | -145.2% | 12.4% |
| Return on Equity | -28.9% | 8.9% |
| P/E (Trailing) | N/A | 19.8x |
| P/E (Forward) | -11.7x | 9.5x |
| Free Cash Flow | $-1.33B | $13.43B |
| Cash | $5.80B | $13.60B |
| Total Debt | $1.30B | $67.65B |
Data sourced from Yahoo Finance. Green highlights indicate better performance for that metric. Use the interactive tool for real-time data.
Business Model Comparison
Moderna
Moderna, Inc. stands as a leading company in Healthcare. Generating $1.94 billion in annual revenue (growing -29.8% year-over-year) and carrying a market capitalization of $21.26 billion, the company has cemented its position as a foundational player in the global Biotechnology landscape. Under the leadership of its leadership team, Moderna, Inc. continues to execute on a multi-year strategic vision that balances growth investment with shareholde…
Full Moderna analysis →Pfizer
Pfizer Inc. stands as a leading company in Healthcare. Generating $62.58 billion in annual revenue (growing -1.2% year-over-year) and carrying a market capitalization of $151.30 billion, the company has cemented its position as a foundational player in the global Drug Manufacturers - General landscape. Under the leadership of its leadership team, Pfizer Inc. continues to execute on a multi-year strategic vision that balances growth investment wit…
Full Pfizer analysis →SWOT Analysis Comparison
Strengths
Moderna
- Moderna, Inc. holds an established position in the Biotechnology sector, with a track record of serving customers and generating value across its core business activities.
- The company's deep expertise in Biotechnology — developed over years of operation — provides meaningful barriers to entry and customer relationship advantages that newer competitors must overcome.
Pfizer
- With a market capitalization of $151.30B, Pfizer Inc. is one of the largest companies in its sector, providing the scale advantages of brand recognition, supplier leverage, and capital access that sma
- Pfizer Inc.'s gross margin of 75.8% is well above industry averages, reflecting pricing power, operational efficiency, or a high-value product mix. The operating margin of 23.9% demonstrates disciplin
- Pfizer Inc. generated $13.43B in free cash flow, providing financial flexibility to invest in growth initiatives, return capital to shareholders, or strengthen the balance sheet.
Weaknesses
Moderna
- Year-over-year revenue declined 29.8%, raising questions about demand for Moderna, Inc.'s core offerings and requiring management to articulate a credible recovery path.
Pfizer
- Pfizer Inc.'s debt-to-equity ratio of 78.0 indicates meaningful financial leverage. Total debt stands at $67.65B against $13.60B in cash and equivalents.
- Year-over-year revenue declined 1.2%, raising questions about demand for Pfizer Inc.'s core offerings and requiring management to articulate a credible recovery path.
Opportunities
Moderna
- Moderna, Inc. operates in the Biotechnology segment of the broader Healthcare sector, which represents a $12 trillion global healthcare market by 2030. Even modest share gains in this environment tran
- Emerging markets — particularly India (1.4B people, rapidly growing middle class), Southeast Asia (700M people), and Sub-Saharan Africa — represent significant untapped addressable markets for Moderna
- With $5.80B in cash and strong free cash flow generation, Moderna, Inc. is well-positioned to pursue strategic acquisitions that expand its capabilities, customer base, or geographic reach.
Pfizer
- Pfizer Inc. operates in the Drug Manufacturers - General segment of the broader Healthcare sector, which represents a $12 trillion global healthcare market by 2030. Even modest share gains in this env
- Emerging markets — particularly India (1.4B people, rapidly growing middle class), Southeast Asia (700M people), and Sub-Saharan Africa — represent significant untapped addressable markets for Pfizer
- With $13.60B in cash and strong free cash flow generation, Pfizer Inc. is well-positioned to pursue strategic acquisitions that expand its capabilities, customer base, or geographic reach.
Threats
Moderna
- Global economic slowdowns, inflation, or rising interest rates can reduce consumer and enterprise spending. Moderna, Inc.'s revenue is not fully insulated from macroeconomic cycles, and a recession sc
- Increasing government regulation — particularly data privacy laws (GDPR, CCPA), antitrust enforcement, and trade restrictions — poses compliance costs and potential restrictions on Moderna, Inc.'s bus
- Competition for skilled technology, engineering, and management talent remains intense. High employee turnover or inability to attract top talent could slow innovation and execution — particularly cri
Pfizer
- Global economic slowdowns, inflation, or rising interest rates can reduce consumer and enterprise spending. Pfizer Inc.'s revenue is not fully insulated from macroeconomic cycles, and a recession scen
- Increasing government regulation — particularly data privacy laws (GDPR, CCPA), antitrust enforcement, and trade restrictions — poses compliance costs and potential restrictions on Pfizer Inc.'s busin
- Competition for skilled technology, engineering, and management talent remains intense. High employee turnover or inability to attract top talent could slow innovation and execution — particularly cri
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Open Comparison ToolModerna vs Pfizer: FAQ
- Is Moderna bigger than Pfizer?
- By market capitalization, Pfizer is larger at $152.73B vs Moderna's $21.09B.
- Which has better profit margins — Moderna or Pfizer?
- Pfizer has higher net profit margins (12.4%) compared to Moderna (-145.2%). Gross and operating margins are compared in the table above.
- What sectors do Moderna and Pfizer operate in?
- Moderna operates in the Healthcare sector (Biotechnology). Pfizer operates in the Healthcare sector (Drug Manufacturers - General).
- How does Moderna's revenue compare to Pfizer's?
- Moderna generates $1.94B in annual revenue (TTM) while Pfizer generates $62.58B. Pfizer is the larger company by revenue as of 2026.