Moderna Inc (MRNA)
Working capital turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,775,000 | 19,263,000 | 18,471,000 | 803,000 | 60,000 |
| Total current assets | US$ in thousands | 10,325,000 | 13,431,000 | 16,071,000 | 6,298,000 | 1,128,800 |
| Total current liabilities | US$ in thousands | 3,015,000 | 4,923,000 | 9,128,000 | 4,389,000 | 143,115 |
| Working capital turnover | 0.93 | 2.26 | 2.66 | 0.42 | 0.06 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $6,775,000K ÷ ($10,325,000K – $3,015,000K)
= 0.93
The working capital turnover ratio for Moderna Inc has shown fluctuations over the past five years. In 2023, the ratio decreased to 0.94, indicating that the company generated less revenue relative to its working capital compared to the previous year. This may imply some inefficiencies in managing working capital or a slowdown in revenue generation.
In 2022 and 2021, Moderna Inc experienced higher working capital turnover ratios of 2.26 and 2.66, respectively, reflecting an improvement in the efficiency of using working capital to generate sales. This trend suggests that the company was effectively utilizing its working capital to support revenue generation during these years.
On the other hand, in 2020 and 2019, the working capital turnover ratios were notably lower at 0.42 and 0.06, respectively. These low ratios indicate that Moderna Inc was less effective in utilizing its working capital to generate revenue during those years, possibly due to working capital inefficiencies or challenges in revenue generation.
Overall, Moderna Inc's working capital turnover ratio has varied significantly over the years, highlighting the importance of effectively managing working capital to support revenue generation and operational efficiency.
Peer comparison
Dec 31, 2023