Moderna Inc (MRNA)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | -3,942,000 | 9,575,000 | 13,285,000 | -744,000 | -515,000 |
| Revenue | US$ in thousands | 6,775,000 | 19,263,000 | 18,471,000 | 803,000 | 60,000 |
| Pretax margin | -58.18% | 49.71% | 71.92% | -92.65% | -858.33% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $-3,942,000K ÷ $6,775,000K
= -58.18%
The pretax margin of Moderna Inc has been quite volatile over the past five years, showing a significant fluctuation. In 2023, the company reported a negative pretax margin of -57.56%, which is a steep decline compared to the previous year's pretax margin of 49.71%. The significant negative margin in 2023 indicates that Moderna Inc's pre-tax earnings were insufficient to cover its operating expenses and income taxes.
The pretax margin of 71.92% in 2021 demonstrated a strong performance, reflecting that Moderna Inc was able to generate a substantial level of pre-tax income relative to its total revenue. However, this was preceded by a notably low pretax margin of -92.67% in 2020, which indicates that the company incurred substantial losses before accounting for income taxes.
The most notable observation is the exceptionally low pretax margin of -854.88% in 2019, which raises concerns about the company's ability to generate profits and cover its expenses. This extreme negative pretax margin suggests that Moderna Inc faced significant financial challenges during that period.
Overall, the pretax margin trend of Moderna Inc highlights the company's volatility in generating profits before accounting for income taxes, showing both high and low margins in the recent years. Analyzing the pretax margin in conjunction with other financial ratios and factors would provide a more comprehensive understanding of the company's financial performance and operational efficiency.
Peer comparison
Dec 31, 2023