Moderna Inc (MRNA)

Days of inventory on hand (DOH)

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Inventory turnover		12.51	23.23	5.71	1.82	0.17
DOH	days	29.17	15.71	63.96	200.98	2,162.49

December 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 12.51
= 29.17

The days of inventory on hand (DOH) for Moderna Inc have shown a significant decline over the years. Starting at a high of 2,162.49 days on December 31, 2020, the DOH has consistently decreased to 200.98 days on December 31, 2021, 63.96 days on December 31, 2022, 15.71 days on December 31, 2023, and then increased slightly to 29.17 days on December 31, 2024.

This downward trend signifies an improvement in Moderna's inventory management efficiency, as the company has been able to reduce the number of days it holds inventory before it is sold. Lower DOH values generally indicate a more optimal balance between inventory levels and sales, reducing carrying costs and potential obsolescence risks.

However, the slight increase in DOH from 2023 to 2024 might suggest a temporary shift in inventory management strategies or operational challenges affecting sales. It would be important for Moderna to closely monitor and analyze the factors contributing to this increase to ensure continued efficiency in inventory management.