Moderna Inc (MRNA)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,236,000 | 6,848,000 | 19,263,000 | 17,736,000 | 274,490 |
| Total current assets | US$ in thousands | 8,099,000 | 10,325,000 | 13,431,000 | 16,071,000 | 6,298,000 |
| Total current liabilities | US$ in thousands | 2,206,000 | 3,015,000 | 4,923,000 | 9,128,000 | 4,389,000 |
| Working capital turnover | 0.55 | 0.94 | 2.26 | 2.55 | 0.14 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,236,000K ÷ ($8,099,000K – $2,206,000K)
= 0.55
The working capital turnover for Moderna Inc has shown significant variation over the period analyzed. In 2020, the ratio was at a relatively low level of 0.14, indicating that the company was not efficiently utilizing its working capital to generate revenue. However, in 2021, there was a substantial improvement as the ratio increased to 2.55, suggesting that Moderna was able to generate more revenue relative to its working capital. This positive trend continued into 2022, with a ratio of 2.26, indicating sustained efficiency in working capital management.
There was a notable decline in the working capital turnover in 2023, dropping to 0.94. This could signal potential challenges in managing working capital efficiently compared to the previous year. Furthermore, in 2024, the ratio decreased further to 0.55, indicating a significant decrease in the efficiency of working capital utilization.
Overall, it is evident that Moderna Inc experienced fluctuations in its working capital turnover over the period, demonstrating both strengths and weaknesses in the company's working capital management. The company should closely monitor this ratio to ensure efficient utilization of working capital and enhance overall financial performance.
Peer comparison
Dec 31, 2024