Moderna Inc (MRNA)

Financial leverage ratio

		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
Total assets	US$ in thousands	14,142,000	15,803,000	15,680,000	16,729,000	18,426,000	19,450,000	21,884,000	24,125,000	25,858,000	26,056,000	26,043,000	27,609,000	24,669,000	20,923,000	16,153,000	12,694,000	7,337,000	4,650,870	3,486,010	2,067,540
Total stockholders’ equity	US$ in thousands	10,901,000	11,927,000	11,712,000	12,817,000	13,854,000	13,455,000	16,949,000	18,863,000	19,123,000	17,992,000	17,985,000	17,075,000	14,145,000	10,124,000	6,704,000	3,838,000	2,561,000	2,759,800	2,946,880	1,640,870
Financial leverage ratio		1.30	1.32	1.34	1.31	1.33	1.45	1.29	1.28	1.35	1.45	1.45	1.62	1.74	2.07	2.41	3.31	2.86	1.69	1.18	1.26

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $14,142,000K ÷ $10,901,000K
= 1.30

The financial leverage ratio of Moderna Inc has exhibited fluctuations over the period. The ratio increased from 1.26 as of March 31, 2020, to a peak of 3.31 as of March 31, 2021, indicating an increase in financial leverage during that time frame. However, there was a subsequent decrease in the ratio to 1.30 as of December 31, 2024. Overall, the trend shows some volatility, with the ratio hovering around the 1.30 to 3.30 range during the period under consideration. This implies that the company has been utilizing a mix of debt and equity to finance its operations and growth initiatives, with varying levels of leverage at different points in time.