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Side-by-side financial comparison of Moderna (MRNA) and RXO, Inc. (RXO). Click either name above to swap in a different company.
RXO, Inc. is the larger business by last-quarter revenue ($1.5B vs $1.0B, roughly 1.4× Moderna). RXO, Inc. runs the higher net margin — -3.1% vs -19.7%, a 16.6% gap on every dollar of revenue. On growth, RXO, Inc. posted the faster year-over-year revenue change (-11.9% vs -45.4%). RXO, Inc. produced more free cash flow last quarter ($-9.0M vs $-880.0M). Over the past eight quarters, RXO, Inc.'s revenue compounded faster (26.8% CAGR vs -45.0%).
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".
RXO, Inc. is a leading transportation and logistics solutions provider headquartered in the United States. Its core service portfolio includes freight brokerage, last-mile delivery for heavy and bulky goods, managed transportation services, and end-to-end supply chain optimization support, primarily catering to clients across the North American manufacturing, retail, and e-commerce segments.
MRNA vs RXO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.5B |
| Net Profit | $-200.0M | $-46.0M |
| Gross Margin | 79.6% | — |
| Operating Margin | -25.6% | -2.9% |
| Net Margin | -19.7% | -3.1% |
| Revenue YoY | -45.4% | -11.9% |
| Net Profit YoY | -1638.5% | -84.0% |
| EPS (diluted) | $-0.51 | $-0.28 |
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.
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.0B | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $966.0M | $1.7B | ||
| Q3 24 | $1.9B | $1.0B | ||
| Q2 24 | — | $930.0M | ||
| Q1 24 | — | $913.0M |
| Q4 25 | — | $-46.0M | ||
| Q3 25 | $-200.0M | $-14.0M | ||
| Q2 25 | — | $-9.0M | ||
| Q1 25 | — | $-31.0M | ||
| Q4 24 | $-1.1B | $-25.0M | ||
| Q3 24 | $13.0M | $-243.0M | ||
| Q2 24 | — | $-7.0M | ||
| Q1 24 | — | $-15.0M |
| Q4 25 | — | — | ||
| Q3 25 | 79.6% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 23.5% | — | ||
| Q3 24 | 72.4% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -2.9% | ||
| Q3 25 | -25.6% | -0.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -2.1% | ||
| Q4 24 | -129.0% | -1.4% | ||
| Q3 24 | -3.8% | -1.9% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -1.3% |
| Q4 25 | — | -3.1% | ||
| Q3 25 | -19.7% | -1.0% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | -2.2% | ||
| Q4 24 | -115.9% | -1.5% | ||
| Q3 24 | 0.7% | -23.4% | ||
| Q2 24 | — | -0.8% | ||
| Q1 24 | — | -1.6% |
| Q4 25 | — | $-0.28 | ||
| Q3 25 | $-0.51 | $-0.08 | ||
| Q2 25 | — | $-0.05 | ||
| Q1 25 | — | $-0.18 | ||
| Q4 24 | $-2.91 | $-0.17 | ||
| Q3 24 | $0.03 | $-1.81 | ||
| Q2 24 | — | $-0.06 | ||
| Q1 24 | — | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $17.0M |
| Total DebtLower is stronger | — | $387.0M |
| Stockholders' EquityBook value | $9.3B | $1.5B |
| Total Assets | $12.1B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $17.0M | ||
| Q3 25 | $1.1B | $25.0M | ||
| Q2 25 | — | $18.0M | ||
| Q1 25 | — | $16.0M | ||
| Q4 24 | $1.9B | $35.0M | ||
| Q3 24 | $1.6B | $55.0M | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | — | $7.0M |
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $9.3B | $1.6B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $10.9B | $1.6B | ||
| Q3 24 | $11.9B | $1.7B | ||
| Q2 24 | — | $579.0M | ||
| Q1 24 | — | $582.0M |
| Q4 25 | — | $3.3B | ||
| Q3 25 | $12.1B | $3.2B | ||
| Q2 25 | — | $3.2B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | $14.1B | $3.4B | ||
| Q3 24 | $15.8B | $3.4B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $-847.0M | $7.0M |
| Free Cash FlowOCF − Capex | $-880.0M | $-9.0M |
| FCF MarginFCF / Revenue | -86.6% | -0.6% |
| Capex IntensityCapex / Revenue | 3.2% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.9B | $-8.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $7.0M | ||
| Q3 25 | $-847.0M | $23.0M | ||
| Q2 25 | — | $23.0M | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | $825.0M | $-7.0M | ||
| Q3 24 | $-1.6B | $-7.0M | ||
| Q2 24 | — | $-5.0M | ||
| Q1 24 | — | $7.0M |
| Q4 25 | — | $-9.0M | ||
| Q3 25 | $-880.0M | $9.0M | ||
| Q2 25 | — | $9.0M | ||
| Q1 25 | — | $-17.0M | ||
| Q4 24 | $303.0M | $-19.0M | ||
| Q3 24 | $-1.7B | $-18.0M | ||
| Q2 24 | — | $-16.0M | ||
| Q1 24 | — | $-4.0M |
| Q4 25 | — | -0.6% | ||
| Q3 25 | -86.6% | 0.6% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | -1.2% | ||
| Q4 24 | 31.4% | -1.1% | ||
| Q3 24 | -92.2% | -1.7% | ||
| Q2 24 | — | -1.7% | ||
| Q1 24 | — | -0.4% |
| Q4 25 | — | 1.1% | ||
| Q3 25 | 3.2% | 1.0% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | 54.0% | 0.7% | ||
| Q3 24 | 8.1% | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -120.46× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
