Moderna Inc (MRNA)

Operating profit margin

		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
Operating income (ttm)	US$ in thousands	-3,945,000	-2,693,000	-4,635,000	-5,139,000	-4,239,000	-2,665,000	513,000	4,827,000	9,420,000	13,250,000	15,642,000	16,257,000	13,296,000	7,610,962	3,817,845	633,718	-763,144	-618,662	-514,402	-536,211
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
Operating profit margin		-122.17%	-53.05%	-91.75%	-99.69%	-62.10%	-29.30%	4.89%	32.82%	50.08%	64.09%	70.19%	74.12%	74.97%	69.09%	61.58%	31.48%	-278.02%	-1,111.34%	-905.80%	-1,397.18%

December 31, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $-3,945,000K ÷ $3,229,000K
= -122.17%

Modern Inc's operating profit margin has fluctuated significantly over the analyzed period. Starting from negative values in early 2020, the company steadily improved its profit margin, turning positive by March 2021. The margin continued to increase through the subsequent quarters of 2021, reaching its peak at almost 75% by the end of that year. However, from early 2022 onwards, the operating profit margin witnessed a declining trend, dropping to around 50% by the end of 2022 and further deteriorating in the following periods. By the end of 2024, the operating profit margin had significantly decreased, displaying negative values indicating that the company's operating expenses exceeded its operating income during the latter half of the analyzed period.