Moderna Inc (MRNA)
Payables turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 7,148,000 | 7,416,000 | 6,111,000 | 6,640,000 | 6,828,000 | 5,597,000 | 5,109,000 | 4,388,000 | 3,373,000 | 2,119,981 | 1,278,890 | 444,624 | 198,811 | 135,765 | 115,044 | 106,833 | 109,929 | 234,423 |
| Payables | US$ in thousands | 520,000 | 494,000 | 310,000 | 389,000 | 487,000 | 330,000 | 181,000 | 199,000 | 302,000 | 87,000 | 77,000 | 8,000 | 18,000 | 20,521 | 18,817 | 11,034 | 7,090 | 11,737 |
| Payables turnover | 13.75 | 15.01 | 19.71 | 17.07 | 14.02 | 16.96 | 28.23 | 22.05 | 11.17 | 24.37 | 16.61 | 55.58 | 11.05 | 6.62 | 6.11 | 9.68 | 15.50 | 19.97 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $7,148,000K ÷ $520,000K
= 13.75
The payables turnover ratio measures how efficiently a company is managing its accounts payable by comparing the cost of goods sold to its average accounts payable. A higher payables turnover ratio indicates that the company is paying off its suppliers more quickly.
Analyzing the payables turnover for Moderna Inc from Q1 2022 to Q4 2023 reveals fluctuating trends. In Q1 2022, the payables turnover was 17.29, indicating that the company paid off its suppliers approximately 17 times throughout the year. Subsequently, the ratio increased significantly in Q2 2022 to 22.50, showing an improvement in the management of accounts payable.
However, from Q3 2022 to Q1 2023, the payables turnover ratio declined, indicating a slowdown in the payment of suppliers relative to the cost of goods sold. The ratio reached its lowest point in Q4 2022 at 11.12, signifying a potential liquidity concern or a change in the company's payment terms with suppliers.
The payables turnover ratio then improved in Q2 and Q3 2023, standing at 14.65 and 11.50, respectively. This suggests that Moderna Inc could be paying off its suppliers more efficiently during these periods.
Overall, fluctuations in the payables turnover ratio for Moderna Inc over the specified timeframe may indicate changes in the company's payment practices, supplier relationships, or operational efficiency. Further analysis of industry benchmarks and comparisons with peer companies can provide additional insights into Moderna Inc's accounts payable management.
Peer comparison
Dec 31, 2023