Moderna Inc (MRNA)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,464,000 | 4,693,000 | 5,416,000 | 2,617,000 | 7,933 |
| Inventory | US$ in thousands | 117,000 | 202,000 | 949,000 | 1,441,000 | 47,000 |
| Inventory turnover | 12.51 | 23.23 | 5.71 | 1.82 | 0.17 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,464,000K ÷ $117,000K
= 12.51
The inventory turnover ratio for Moderna Inc has shown a significant improvement over the years, indicating better management of its inventory levels. In December 31, 2020, the inventory turnover was at a relatively low level of 0.17, suggesting slow inventory movement. However, by December 31, 2021, the ratio jumped significantly to 1.82, showing a notable increase in the speed at which inventory is being sold or used up.
The trend continued to improve in the subsequent years, reaching 5.71 by December 31, 2022, 23.23 by December 31, 2023, and 12.51 by December 31, 2024. These figures indicate a remarkable enhancement in the efficiency of Moderna's inventory management processes, with inventory turning over more frequently in the later years, thereby reducing the holding costs and potentially improving cash flow.
Overall, the inventory turnover trend reflects Moderna Inc's ability to effectively manage its inventory levels, optimize sales, and capitalize on operational efficiencies over the years, which could contribute positively to the company's financial performance and sustainability.
Peer comparison
Dec 31, 2024