Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Moderna Inc. (NASDAQ:MRNA)

This company has been moved to the archive! The financial data has not been updated since November 7, 2024.

Common-Size Balance Sheet: Assets
Quarterly Data

Moderna Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Cash and cash equivalents 10.40 15.80 12.26 15.78 15.07 17.37 14.26 12.39 11.62 11.03 18.28 27.76 26.53 34.69 42.87 35.76 32.37 50.53 18.95 14.84 10.92 9.00 27.84
Investments 33.05 38.33 38.69 30.92 23.86 21.28 22.72 25.90 20.42 19.29 18.35 15.72 16.04 14.78 18.06 27.04 38.07 27.41 39.95 54.56 55.62 54.51 33.55
Accounts receivable, net 9.90 1.04 0.82 4.84 9.59 1.06 4.61 5.36 10.34 10.33 11.49 12.87 15.02 12.51 25.29 18.95 4.10 0.96 0.35 0.34 0.52 0.27 0.37
Inventory 2.61 2.54 1.76 1.10 2.50 3.27 3.03 3.67 7.97 7.38 7.03 5.84 4.61 3.98 3.89 0.63 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Prepaid expenses and other current assets 5.21 3.90 3.86 3.40 4.49 5.45 5.61 4.62 4.52 4.05 4.06 2.95 1.97 1.96 2.08 3.45 2.37 1.33 1.21 1.29 1.74 1.34 1.40
Current assets 61.17% 61.61% 57.39% 56.03% 55.52% 48.43% 50.25% 51.94% 54.87% 52.08% 59.22% 65.15% 64.16% 67.91% 92.19% 85.84% 76.91% 80.23% 60.46% 71.02% 68.80% 65.12% 63.16%
Investments, non-current 14.78 14.83 21.75 25.38 27.11 27.90 30.85 32.17 33.22 39.02 33.22 27.74 30.79 26.04 3.69 8.71 14.88 10.18 24.30 10.07 17.59 21.66 24.23
Property, plant and equipment, net 15.07 14.01 12.33 10.56 10.04 10.42 8.36 7.80 7.75 5.08 4.86 5.03 4.04 4.92 2.93 4.05 5.95 6.60 9.77 12.68 12.80 12.37 11.82
Right-of-use assets, operating leases 4.96 4.94 4.17 3.87 3.93 0.59 0.48 0.47 0.43 0.47 0.48 0.58 0.55 0.64 0.70 1.23 1.97 2.64 4.86 5.44 0.00 0.00 0.00
Deferred tax assets 0.51 0.52 0.48 0.44 0.00 6.76 5.23 3.80 3.53 3.01 1.89 1.32 0.39 0.41 0.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other non-current assets 3.52 4.09 3.89 3.72 3.40 5.89 4.82 3.82 0.20 0.33 0.34 0.19 0.07 0.08 0.09 0.18 0.28 0.35 0.61 0.80 0.81 0.85 0.79
Non-current assets 38.83% 38.39% 42.61% 43.97% 44.48% 51.57% 49.75% 48.06% 45.13% 47.92% 40.78% 34.85% 35.84% 32.09% 7.81% 14.16% 23.09% 19.77% 39.54% 28.98% 31.20% 34.88% 36.84%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The asset composition reflects a significant evolution from a highly liquid, funding-dependent structure to that of a commercial-stage entity with expanding operational infrastructure. A distinct shift is observed in the transition from extreme concentrations of cash and short-term investments toward a more diversified balance sheet including higher proportions of fixed assets and commercial working capital.

Liquidity and Current Asset Dynamics
Cash and cash equivalents exhibited extreme volatility, peaking at 50.53% of total assets in June 2020 before entering a long-term downward trend, stabilizing between 10% and 16% by late 2024. Short-term investments served as a primary store of value, peaking at 55.62% in September 2019, declining during the height of the pandemic response, and subsequently rebounding to 33.05% by September 2024, suggesting a strategic rotation of liquid reserves.
The emergence of commercial operations is evidenced by the trajectory of accounts receivable and inventory. Accounts receivable, which were negligible prior to 2020, spiked to a peak of 25.29% in March 2021, coinciding with the scaling of product delivery. Inventory appeared in late 2020 and peaked at 7.97% in September 2022, reflecting the requirements of large-scale product distribution before contracting to 2.61% by September 2024.
Non-Current Asset and Infrastructure Trends
Property, plant, and equipment (PPE) showed a notable long-term increase. After dipping to a low of 2.93% in March 2021, PPE steadily rose to 15.07% by September 2024, indicating a sustained commitment to increasing internal manufacturing capacity and physical infrastructure.
Non-current investments fluctuated significantly, reaching a high of 39.02% in June 2022 before declining to 14.78% by September 2024. This decline suggests a reallocation of capital away from long-term financial instruments toward operational assets or liquid reserves.
Right-of-use assets remained minimal for several years but experienced a sharp increase starting in September 2023, rising from under 1% to 4.96% by September 2024, pointing toward an increase in leased facilities or equipment.

Overall, the total current asset ratio peaked at 92.19% in March 2021 and has since normalized to approximately 61.17% as of September 2024. This trend, coupled with the rise in non-current assets from a low of 7.81% in March 2021 to 38.83% in September 2024, confirms a structural transition toward a more capital-intensive operational model.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?