Common-Size Balance Sheet: Assets
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2018
- Analysis of Revenues
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Moderna Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets displayed significant volatility over the observed periods. Initially, it declined from 27.84% in early 2019 to a low of 9% by mid-2019, followed by a general increasing trend reaching up to 42.87% in the first quarter of 2021. Afterward, it progressively decreased again, fluctuating around the mid-teens and ultimately showing a lower ratio of 10.4% by the third quarter of 2024.
- Investments
- Investments as a percentage of total assets started relatively high above 33% in early 2019, peaking above 55% in the latter half of 2019. This was followed by a decline during 2020, bottoming near 14.78% mid-2021. Subsequently, this ratio rebounded steadily, surpassing 38% in mid-2024 before a slight drop to 33.05% at the third quarter of 2024.
- Accounts Receivable, Net
- Accounts receivable grew notably from negligible values under 1% pre-2020 to a remarkable peak at 25.29% by the first quarter of 2021, indicating increased outstanding receivables. This figure then declined sharply through 2021 and 2022, reaching lows under 1% in early 2024, followed by some resurgence to 9.9% by the third quarter of 2024.
- Inventory
- Inventory levels, measured as a percentage of total assets, were minimal and absent in early periods. Beginning to register from late 2020, inventory steadily increased to a peak near 7.97% by the end of 2022. Thereafter, a decline was evident throughout 2023 and into 2024, falling below 3% by the third quarter of 2024.
- Prepaid Expenses and Other Current Assets
- This category maintained a relatively stable low percentage around 1-2% until early 2020, followed by a gradual rise through subsequent periods, reaching above 5% in early 2024. This suggests an expanding allocation toward prepaid or miscellaneous current assets over time.
- Current Assets
- Current assets as a fraction of total assets fluctuated between approximately 50% and 80%. A notable peak occurred in mid-2020 at over 80%, declining somewhat thereafter but generally holding between 50%-60% during the 2022-2024 timeframe, indicating a moderate but consistent portion of assets classified as current.
- Investments, Non-Current
- Non-current investments formed a substantial portion early on, varying between 24% and approximately 10% from 2019 through 2020. Post-2020, the share grew significantly again, peaking around 39% in mid-2022, before declining steadily to about 14.78% by late 2024. This reflects shifting investment profiles between current and non-current classifications over the years.
- Property, Plant and Equipment, Net
- The net property, plant, and equipment ratio generally declined from nearly 12% in early 2019 to lows around 2.93% by early 2021, then reversed trend, increasing steadily from mid-2021 onwards to a peak exceeding 15% by late 2024. This trend points to increased capital asset investments or slower depreciation in recent years.
- Right-of-Use Assets, Operating Leases
- Starting with no early data, this line item showed a decreasing trend from roughly 5.44% in late 2019 to under 0.5% by early 2022. Afterward, a marked increase occurred from early 2023 onward, rising close to 5% by the latter half of 2024, possibly indicating new lease obligations or reclassification effects in recent periods.
- Deferred Tax Assets
- Deferred tax assets were negligible or unreported initially but rose notably from below 1% in 2020 to a peak above 6% by mid-2023. A slight decline followed thereafter but remained above 0.5%, reflecting evolving tax considerations and timing differences impacting asset recognition.
- Other Non-Current Assets
- This category showed minor but mostly stable proportions below 1% until early 2022, after which a significant increase occurred, reaching almost 5.9% in mid-2023 before fluctuating around 3-4% in 2024. This may indicate acquisitions, deferred charges, or other less liquid assets gaining prominence.
- Non-Current Assets
- The overall share of non-current assets as a percentage of total assets declined from nearly 37% in early 2019 to a low near 7.8% in early 2021. Subsequently, a strong recovery was observed, with ratios reaching close to 50% in early 2023 before stabilizing just below 40% by late 2024, consistent with the noted increases in property, deferred taxes, and other non-current assets.
- Total Assets
- Throughout the observed periods, total assets are consistently represented as 100%, serving as the baseline for relative analysis of asset composition.