Moderna Inc (MRNA)
Working capital 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 | ||
| Total current assets | US$ in thousands | 10,325,000 | 10,799,000 | 10,599,000 | 12,122,000 | 13,431,000 | 14,297,000 | 13,563,000 | 16,350,000 | 16,071,000 | 13,425,000 | 10,969,000 | 11,703,000 | 6,298,000 | 3,577,210 | 2,796,740 | 1,249,940 | 1,128,800 | 1,094,470 | 1,097,420 | 1,140,830 |
| Total current liabilities | US$ in thousands | 3,015,000 | 4,385,000 | 3,123,000 | 3,499,000 | 4,923,000 | 6,807,000 | 6,812,000 | 9,238,000 | 9,128,000 | 9,957,000 | 8,840,000 | 8,441,000 | 4,389,000 | 1,473,560 | 161,647 | 134,582 | 143,115 | 147,842 | 161,987 | 159,159 |
| Working capital turnover | 0.92 | 1.42 | 1.43 | 1.75 | 2.26 | 2.86 | 3.41 | 3.18 | 2.66 | 3.41 | 3.30 | 0.84 | 0.42 | 0.12 | 0.04 | 0.05 | 0.06 | 0.09 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $6,758,000K ÷ ($10,325,000K – $3,015,000K)
= 0.92
Working capital turnover is a financial ratio that measures a company's efficiency in using its working capital to generate sales revenue over a specific period. A higher working capital turnover ratio indicates that a company is effectively managing its working capital to support its revenue generation activities.
Analyzing the working capital turnover data for Moderna Inc over the past eight quarters, we observe a fluctuating trend in the ratio. In Q4 2023, the working capital turnover ratio was 0.94, indicating that the company generated $0.94 in sales for every dollar of working capital invested. This was a decrease compared to the previous quarter, Q3 2023, where the ratio was 1.42.
The increase in the working capital turnover ratio from Q4 2022 (2.26) to Q1 2022 (3.18) suggests that Moderna Inc improved its efficiency in utilizing working capital to drive sales during that period. However, the ratio has since declined over the subsequent quarters, indicating potential challenges in efficiently managing working capital.
The trend of decreasing working capital turnover ratios from Q1 2023 (1.75) to Q4 2023 (0.94) may imply that Moderna Inc is facing difficulties in optimizing its working capital to support revenue generation. It is essential for the company to closely monitor and address factors affecting its working capital efficiency to enhance profitability and financial performance in the future.
Peer comparison
Dec 31, 2023