Moderna Inc (MRNA)
Working capital turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,229,000 | 5,076,000 | 5,052,000 | 5,155,000 | 6,826,000 | 9,097,000 | 10,486,000 | 14,708,000 | 18,810,000 | 20,675,000 | 22,284,000 | 21,933,000 | 17,736,000 | 11,016,375 | 6,199,591 | 2,013,033 | 274,490 | 55,668 | 56,790 | 38,378 |
| Total current assets | US$ in thousands | 8,099,000 | 9,666,000 | 9,661,000 | 9,600,000 | 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 |
| Total current liabilities | US$ in thousands | 2,206,000 | 2,201,000 | 2,363,000 | 2,380,000 | 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 |
| Working capital turnover | 0.55 | 0.68 | 0.69 | 0.71 | 0.93 | 1.42 | 1.40 | 1.71 | 2.21 | 2.76 | 3.30 | 3.08 | 2.55 | 3.18 | 2.91 | 0.62 | 0.14 | 0.03 | 0.02 | 0.03 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,229,000K ÷ ($8,099,000K – $2,206,000K)
= 0.55
The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales revenue. A higher ratio indicates better utilization of working capital.
Analyzing Moderna Inc's working capital turnover ratio over the past few years, we can observe the following trends:
- The ratio was quite low in the first half of 2020, showing that the company was not efficiently using its working capital to drive sales.
- From March 2021 onwards, there was a significant improvement in the ratio, indicating a more effective management of working capital to generate revenue.
- The ratio peaked in September 2021, indicating that Moderna was utilizing its working capital exceptionally well to drive sales during that period.
- Subsequently, the ratio fluctuated but generally remained at a relatively high level, suggesting continued efficiency in utilizing working capital for revenue generation.
- Towards the end of 2024, the ratio declined, indicating a potential decline in the efficiency of working capital utilization for generating sales.
Overall, Moderna Inc's working capital turnover ratio showed variability over the years, with periods of significant improvement in efficiency followed by slight declines. This ratio provides valuable insights into the company's ability to efficiently convert working capital into sales revenue, highlighting the importance of effective working capital management for business performance.
Peer comparison
Dec 31, 2024