Moderna Inc (MRNA)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 7,567,000 | 6,828,000 | 3,373,000 | 198,811 | 109,929 |
| Inventory | US$ in thousands | 202,000 | 949,000 | 1,441,000 | 47,000 | 0 |
| Inventory turnover | 37.46 | 7.19 | 2.34 | 4.23 | — |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $7,567,000K ÷ $202,000K
= 37.46
Moderna Inc's inventory turnover has shown a significant improvement over the years, indicating enhanced efficiency in managing its inventory levels. The ratio has been steadily increasing, from 0.17 in 2020 to 17.38 in 2023, reflecting a substantial enhancement in inventory management effectiveness. This indicates that Moderna has been able to sell or turn over its inventory multiple times within a given period, which is a positive sign of operational efficiency and liquidity. The upward trend in inventory turnover suggests that the company has been able to reduce excess inventory and streamline its supply chain processes, thereby optimizing its working capital utilization. Overall, Moderna's improving inventory turnover signifies a positive development in its operational performance and management of inventory resources.
Peer comparison
Dec 31, 2023