Moderna Inc (MRNA)

Inventory turnover

		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
Cost of revenue (ttm)	US$ in thousands	1,541,000	1,731,000	3,458,000	4,033,000	4,693,000	5,682,000	4,541,000	5,191,000	5,416,000	4,450,000	4,072,000	3,441,000	2,617,000	1,672,933	1,294,933	696,933	618,933	728,954	504,591	480,896
Inventory	US$ in thousands	117,000	412,000	399,000	295,000	202,000	487,000	715,000	732,000	949,000	2,077,000	1,921,000	1,942,000	1,441,000	965,000	643,000	494,000	47,000	-691,969	-354,916	—
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	—	—	—

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,541,000K ÷ $117,000K
= 13.17

Moderna Inc's inventory turnover has shown a fluctuating trend over the periods provided. The inventory turnover ratio measures how efficiently the company is managing its inventory by indicating how many times during a specific period the company sells and replaces its inventory.

The data shows that Moderna's inventory turnover ratio was not available for the periods ending March 31, June 30, and September 30, 2020. Starting from December 31, 2020, the ratio was 13.17, indicating that the company's inventory turned over 13.17 times during that period.

Thereafter, the inventory turnover ratio experienced a significant decrease to 1.41 by March 31, 2021, but then showed a slight increase to 2.01 by June 30, 2021. The ratio continued to fluctuate over the subsequent periods, showing values such as 1.73, 1.82, 1.77, and 2.12 by September 30, 2021, December 31, 2021, March 31, 2022, and June 30, 2022, respectively.

From September 30, 2022, the inventory turnover ratio started to increase more significantly, reaching 11.67 by September 30, 2023, and further rising to 23.23 by December 31, 2023. However, this high turnover rate was not sustained, as the ratio decreased to 13.67 by March 31, 2024, and dropped further to 4.20 by September 30, 2024.

Overall, Moderna Inc's inventory turnover has exhibited fluctuations over the periods analyzed, with both peaks and troughs observed. It's essential for the company to monitor and manage its inventory efficiently to ensure optimal operational performance and financial health.