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Side-by-side financial comparison of Huntington Ingalls Industries (HII) and Moderna (MRNA). Click either name above to swap in a different company.
Huntington Ingalls Industries is the larger business by last-quarter revenue ($1.7B vs $1.0B, roughly 1.6× Moderna). Huntington Ingalls Industries runs the higher net margin — 8.9% vs -19.7%, a 28.6% gap on every dollar of revenue. On growth, Huntington Ingalls Industries posted the faster year-over-year revenue change (13.8% vs -45.4%). Huntington Ingalls Industries produced more free cash flow last quarter ($-461.0M vs $-880.0M). Over the past eight quarters, Huntington Ingalls Industries's revenue compounded faster (-25.2% CAGR vs -45.0%).
Huntington Ingalls Industries, Inc. (HII) is the largest military shipbuilding company in the United States as well as a provider of professional services to partners in government and industry. HII was formed on 31 March 2011, as a divestiture from Northrop Grumman.
Moderna, Inc. is an American pharmaceutical and biotechnology company based in Cambridge, Massachusetts, that focuses on RNA therapeutics, primarily mRNA vaccines. These vaccines use a copy of a molecule called messenger RNA (mRNA) to carry instructions for proteins to produce an immune response. The company's name is derived from the terms "modified", "RNA", and "modern".
HII vs MRNA — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.7B | $1.0B |
| Net Profit | $149.0M | $-200.0M |
| Gross Margin | — | 79.6% |
| Operating Margin | 9.3% | -25.6% |
| Net Margin | 8.9% | -19.7% |
| Revenue YoY | 13.8% | -45.4% |
| Net Profit YoY | — | -1638.5% |
| EPS (diluted) | $3.79 | $-0.51 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.7B | — | ||
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.2B | $1.0B | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $3.0B | $966.0M | ||
| Q3 24 | $2.7B | $1.9B | ||
| Q2 24 | $3.0B | — |
| Q1 26 | $149.0M | — | ||
| Q4 25 | $159.0M | — | ||
| Q3 25 | $145.0M | $-200.0M | ||
| Q2 25 | $152.0M | — | ||
| Q1 25 | $149.0M | — | ||
| Q4 24 | $123.0M | $-1.1B | ||
| Q3 24 | $101.0M | $13.0M | ||
| Q2 24 | $173.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 79.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | — | 72.4% | ||
| Q2 24 | — | — |
| Q1 26 | 9.3% | — | ||
| Q4 25 | 4.9% | — | ||
| Q3 25 | 5.0% | -25.6% | ||
| Q2 25 | 5.3% | — | ||
| Q1 25 | 5.9% | — | ||
| Q4 24 | 3.7% | -129.0% | ||
| Q3 24 | 3.0% | -3.8% | ||
| Q2 24 | 6.3% | — |
| Q1 26 | 8.9% | — | ||
| Q4 25 | 4.6% | — | ||
| Q3 25 | 4.5% | -19.7% | ||
| Q2 25 | 4.9% | — | ||
| Q1 25 | 5.4% | — | ||
| Q4 24 | 4.1% | -115.9% | ||
| Q3 24 | 3.7% | 0.7% | ||
| Q2 24 | 5.8% | — |
| Q1 26 | $3.79 | — | ||
| Q4 25 | $4.06 | — | ||
| Q3 25 | $3.68 | $-0.51 | ||
| Q2 25 | $3.86 | — | ||
| Q1 25 | $3.79 | — | ||
| Q4 24 | $3.15 | $-2.91 | ||
| Q3 24 | $2.56 | $0.03 | ||
| Q2 24 | $4.38 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $216.0M | $1.1B |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $5.1B | $9.3B |
| Total Assets | $12.5B | $12.1B |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $216.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | — |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | $9.3B | ||
| Q2 25 | $4.9B | — | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $4.7B | $10.9B | ||
| Q3 24 | $4.2B | $11.9B | ||
| Q2 24 | $4.2B | — |
| Q1 26 | $12.5B | — | ||
| Q4 25 | $12.7B | — | ||
| Q3 25 | $12.3B | $12.1B | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $12.1B | — | ||
| Q4 24 | $12.1B | $14.1B | ||
| Q3 24 | $11.1B | $15.8B | ||
| Q2 24 | $11.3B | — |
| Q1 26 | 0.52× | — | ||
| Q4 25 | 0.53× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.58× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-390.0M | $-847.0M |
| Free Cash FlowOCF − Capex | $-461.0M | $-880.0M |
| FCF MarginFCF / Revenue | -27.7% | -86.6% |
| Capex IntensityCapex / Revenue | 4.4% | 3.2% |
| Cash ConversionOCF / Net Profit | -2.62× | — |
| TTM Free Cash FlowTrailing 4 quarters | $795.0M | $-1.9B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-390.0M | — | ||
| Q4 25 | $650.0M | — | ||
| Q3 25 | $118.0M | $-847.0M | ||
| Q2 25 | $823.0M | — | ||
| Q1 25 | $-395.0M | — | ||
| Q4 24 | $391.0M | $825.0M | ||
| Q3 24 | $213.0M | $-1.6B | ||
| Q2 24 | $-9.0M | — |
| Q1 26 | $-461.0M | — | ||
| Q4 25 | $516.0M | — | ||
| Q3 25 | $13.0M | $-880.0M | ||
| Q2 25 | $727.0M | — | ||
| Q1 25 | $-462.0M | — | ||
| Q4 24 | $277.0M | $303.0M | ||
| Q3 24 | $125.0M | $-1.7B | ||
| Q2 24 | $-99.0M | — |
| Q1 26 | -27.7% | — | ||
| Q4 25 | 14.8% | — | ||
| Q3 25 | 0.4% | -86.6% | ||
| Q2 25 | 23.6% | — | ||
| Q1 25 | -16.9% | — | ||
| Q4 24 | 9.2% | 31.4% | ||
| Q3 24 | 4.5% | -92.2% | ||
| Q2 24 | -3.3% | — |
| Q1 26 | 4.4% | — | ||
| Q4 25 | 3.9% | — | ||
| Q3 25 | 3.3% | 3.2% | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 3.8% | 54.0% | ||
| Q3 24 | 3.2% | 8.1% | ||
| Q2 24 | 3.0% | — |
| Q1 26 | -2.62× | — | ||
| Q4 25 | 4.09× | — | ||
| Q3 25 | 0.81× | — | ||
| Q2 25 | 5.41× | — | ||
| Q1 25 | -2.65× | — | ||
| Q4 24 | 3.18× | — | ||
| Q3 24 | 2.11× | -120.46× | ||
| Q2 24 | -0.05× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HII
Segment breakdown not available.
MRNA
| COVID19 | $971.0M | 96% |
| Other Revenue | $20.0M | 2% |
| Grant | $14.0M | 1% |
| Collaboration Arrangement Including Arrangements With Affiliate | $7.0M | 1% |
| License And Royalty | $2.0M | 0% |
