Moderna Inc (MRNA)

Days of inventory on hand (DOH)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Inventory turnover		13.17	4.20	8.67	13.67	23.23	11.67	6.35	7.09	5.71	2.14	2.12	1.77	1.82	1.73	2.01	1.41	13.17	—	—	—
DOH	days	27.71	86.87	42.12	26.70	15.71	31.28	57.47	51.47	63.96	170.36	172.19	206.00	200.98	210.54	181.24	258.72	27.72	—	—	—

December 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 13.17
= 27.71

The days of inventory on hand (DOH) ratio for Moderna Inc has shown significant fluctuations over the past few years.

From December 31, 2020, to June 30, 2021, there was a substantial increase in DOH from 27.72 days to 181.24 days, indicating that Moderna held inventory for a longer period, possibly due to increased production or slower sales.

However, from June 30, 2021, to March 31, 2023, the DOH ratio gradually decreased, reaching its lowest point of 15.71 days on December 31, 2023. This suggests that Moderna managed its inventory more efficiently during this period, possibly by aligning production more closely with demand or improving its supply chain processes.

There was a slight uptick in DOH from March 31, 2023, to September 30, 2024, reaching 86.87 days. This could indicate a change in inventory management approach or market conditions that led to a longer inventory holding period.

Overall, the fluctuations in Moderna's DOH ratio reflect the company's inventory management practices and its ability to adapt to changing market demands. Further analysis of the company's operations and industry trends could provide more insights into the reasons behind these fluctuations.