Moderna Inc (MRNA)

Receivables 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	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	6,758,000	9,088,000	10,654,000	15,059,000	19,263,000	21,390,000	22,995,000	22,600,000	18,471,000	11,831,000	7,019,000	2,732,000	803,000	246,055	106,101	52,184	60,209	81,575
Receivables	US$ in thousands	1,020,000	2,060,000	605,000	1,479,000	1,622,000	2,770,000	2,793,000	3,313,000	3,245,000	3,199,000	2,071,000	3,218,000	1,400,280	200,512	40,868	15,595	12,204	15,260	11,562	12,672
Receivables turnover		6.63	4.41	17.61	10.18	11.88	7.72	8.23	6.82	5.69	3.70	3.39	0.85	0.57	1.23	2.60	3.35	4.93	5.35

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $6,758,000K ÷ $1,020,000K
= 6.63

Receivables turnover is a crucial financial ratio that measures how efficiently a company is able to collect outstanding receivables from its customers within a given period. A higher receivables turnover ratio indicates a more efficient collection process.

Analyzing Moderna Inc's receivables turnover over the past eight quarters reveals significant variability. In Q2 2023, there was a notable spike in the receivables turnover ratio to 29.68, indicating exceptional efficiency in collecting outstanding receivables during that period. This sudden increase may suggest stricter credit policies or improved collection procedures implemented by the company.

In contrast, Q3 2023 and Q4 2023 saw lower receivables turnover ratios of 4.59 and 6.84, respectively, indicating a decline in the efficiency of collecting receivables compared to the peak in Q2 2023. It is essential for Moderna Inc to closely monitor and understand the reasons behind these fluctuations to ensure timely collection of outstanding amounts.

Overall, despite the fluctuations in the receivables turnover ratio, Moderna Inc has demonstrated varying levels of efficiency in managing its accounts receivable over the past eight quarters. Continuous monitoring and analysis of this ratio will be crucial for the company to maintain a healthy cash flow and liquidity position.