AbbVie vs Moderna
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The short version
- AbbVie is the larger business, with $61.2B of revenue in fiscal 2025 against $1.9B for Moderna, about 31 times as much.
- AbbVie grew revenue faster (8.6%, against −39.9%).
- AbbVie kept more of each dollar of sales as operating profit (24.7% operating margin, against −158.1%).
- AbbVie turned more of its sales into free cash flow (29.1% FCF margin, against −106.2%).
- AbbVie earned a higher return on the capital invested in it (15.7%, against −65.4%).
| Latest fiscal year | ABBV · FY25 | MRNA · FY25 |
|---|---|---|
| Size | ||
| Market cap | $505.9B | $79.6B |
| Revenue | $61.2B | $1.9B |
| Free cash flow | $17.8B | −$2.1B |
| Net income | $4.2B | −$2.8B |
| Growth | ||
| Revenue growth | 8.6% | −39.9% |
| 5-year growth | 6.0% | 19.3% |
| Share count change | 0.0% | 1.3% |
| Profitability | ||
| Gross margin | 70.2% | 55.4% |
| Operating margin | 24.7% | −158.1% |
| Net margin | 6.9% | −145.2% |
| FCF margin | 29.1% | −106.2% |
| Return on capital | 15.7% | −65.4% |
| Return on equity | — | −28.9% |
| Balance sheet | ||
| Net debt | $61.8B | −$5.2B |
| Net debt / EBITDA | 2.7x | — |
| Dividends and buybacks | $12.6B | $2.0M |
| Valuation & quality | ||
| P/E | 80.7x | — |
| Piotroski F-score | 7 | 2 |
Revenue
FY16
ABBV $25.6B
MRNA $108M
FY17
ABBV $28.2B
MRNA $206M
FY18
ABBV $32.8B
MRNA $135M
FY19
ABBV $33.3B
MRNA $60.0M
FY20
ABBV $45.8B
MRNA $803M
FY21
ABBV $56.2B
MRNA $18.5B
FY22
ABBV $58.1B
MRNA $19.3B
FY23
ABBV $54.3B
MRNA $6.8B
FY24
ABBV $56.3B
MRNA $3.2B
FY25
ABBV $61.2B
MRNA $1.9B
ABBV
MRNA
Operating margin
FY16
ABBV 36.4%
MRNA −206.4%
FY17
ABBV 33.8%
MRNA −130.9%
FY18
ABBV 19.5%
MRNA −306.0%
FY19
ABBV 39.0%
MRNA −910.0%
FY20
ABBV 24.8%
MRNA −95.0%
FY21
ABBV 31.9%
MRNA 72.0%
FY22
ABBV 31.2%
MRNA 48.9%
FY23
ABBV 23.5%
MRNA −61.9%
FY24
ABBV 16.2%
MRNA −121.9%
FY25
ABBV 24.7%
MRNA −158.1%
ABBV
MRNA
Free cash flow
FY16
ABBV $6.6B
MRNA $33.6M
FY17
ABBV $9.4B
MRNA −$390M
FY18
ABBV $12.8B
MRNA −$437M
FY19
ABBV $12.8B
MRNA −$491M
FY20
ABBV $16.8B
MRNA $2.0B
FY21
ABBV $22.0B
MRNA $13.3B
FY22
ABBV $24.2B
MRNA $4.6B
FY23
ABBV $22.1B
MRNA −$3.8B
FY24
ABBV $17.8B
MRNA −$4.1B
FY25
ABBV $17.8B
MRNA −$2.1B
ABBV
MRNA
Return on capital
FY16
ABBV 22.7%
MRNA —
FY17
ABBV 19.4%
MRNA —
FY18
ABBV 22.6%
MRNA —
FY19
ABBV 56.5%
MRNA —
FY20
ABBV 20.9%
MRNA —
FY21
ABBV 18.6%
MRNA —
FY22
ABBV 20.8%
MRNA —
FY23
ABBV 15.5%
MRNA —
FY24
ABBV 15.0%
MRNA —
FY25
ABBV 15.7%
MRNA −65.4%
ABBV
MRNA
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.