Analysis of Inventory
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- Income Statement
- Common-Size Income Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Selected Financial Data since 2018
- Current Ratio since 2018
- Price to Earnings (P/E) since 2018
- Analysis of Revenues
- Aggregate Accruals
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Inventory Disclosure
Moderna Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||
| Work in progress | |||||||||||
| Finished goods | |||||||||||
| Inventory |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
The financial data on inventory components reveals significant fluctuations over the observed periods.
- Raw materials
- The value of raw materials experienced a substantial increase from US$36 million in 2020 to a peak of US$870 million in 2021, followed by a further increase to US$575 million in 2022. However, there was a marked decline to US$163 million in 2023. This pattern suggests a buildup of raw materials leading up to 2021, which then decreased notably by the end of the last reported period.
- Work in progress
- Work in progress showed a similar trajectory with an increase from US$9 million in 2020 to US$338 million in 2021, slightly decreasing to US$205 million in 2022 and drastically falling to US$15 million in 2023. This trend mirrors the movement in raw materials, indicating a period of high production activity in 2021 that tapered off subsequently.
- Finished goods
- Finished goods rose from US$1 million in 2020 to US$233 million in 2021, followed by a decrease to US$169 million in 2022 and a significant drop to US$24 million in 2023. The pattern is consistent with the other inventory components, reflecting a reduction in inventory holdings by the end of the analyzed period.
- Total Inventory
- Total inventory values increased dramatically from US$47 million in 2020 to US$1,441 million in 2021, declined to US$949 million in 2022, and dropped sharply to US$202 million in 2023. This overall trend of inventory buildup and subsequent reduction may indicate strategic inventory management, possibly responding to changing demand or production considerations.