Stock Analysis on Net
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: Liabilities and Stockholders’ Equity 
Quarterly Data

Moderna Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (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
Accounts payable 2.36 1.78 1.09 2.82 2.54 1.42 1.61 1.88 1.27 0.70 0.72 1.22 0.42 0.48 0.06 0.25 0.44 0.54 0.53 0.45 0.74 1.76 2.13
Accrued liabilities 8.71 8.50 8.34 9.76 11.43 6.81 6.69 8.13 7.12 6.83 5.82 5.97 5.14 5.25 5.93 6.40 4.49 2.56 2.66 4.26 3.78 2.65 2.34
Deferred revenue 2.40 4.48 3.34 3.08 7.05 4.75 5.05 7.88 15.36 15.72 20.28 25.35 38.13 45.21 59.33 52.71 26.54 1.30 2.85 3.98 4.41 4.95 4.09
Income taxes payable 0.03 0.04 0.31 0.34 0.29 0.21 0.27 0.19 0.25 1.34 5.77 3.55 2.70 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other current liabilities 0.44 0.27 1.14 0.36 1.23 1.08 0.88 0.96 2.12 1.57 0.87 0.91 1.20 3.79 1.17 0.46 0.21 0.24 0.47 0.32 0.37 0.26 0.25
Current liabilities 13.93% 15.07% 14.23% 16.36% 22.54% 14.27% 14.50% 19.04% 26.12% 26.16% 33.46% 37.00% 47.59% 54.73% 66.50% 59.82% 31.68% 4.64% 6.51% 9.00% 9.29% 9.61% 8.81%
Deferred revenue, non-current 0.60 0.61 0.35 0.45 0.85 3.16 2.79 2.60 0.67 1.56 1.68 2.49 2.38 1.08 1.41 2.42 4.47 5.98 6.92 8.75 9.02 8.30 8.68
Operating lease liabilities, non-current 4.30 4.26 3.81 3.49 3.58 0.48 0.40 0.36 0.30 0.33 0.34 0.43 0.50 0.65 0.76 1.33 2.13 2.86 5.27 5.89 0.00 0.00 0.00
Financing lease liabilities, non-current 3.95 3.67 3.44 3.12 2.96 3.85 3.44 3.53 3.54 2.46 2.34 2.43 1.14 2.03 1.09 1.50 2.34 1.95 1.88 2.43 0.00 0.00 0.00
Deferred lease obligation, non-current 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.87 0.66 0.58
Lease financing obligation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.12 1.99 1.85
Other non-current liabilities 1.75 1.70 1.57 1.39 0.88 0.79 0.68 0.52 0.31 0.43 0.33 0.31 0.00 0.01 0.02 0.03 0.05 0.04 0.06 0.01 0.01 0.01 0.01
Non-current liabilities 10.60% 10.24% 9.16% 8.45% 8.28% 8.28% 7.31% 7.01% 4.82% 4.78% 4.69% 5.66% 4.02% 3.77% 3.27% 5.27% 8.98% 10.83% 14.13% 17.08% 12.02% 10.96% 11.13%
Total liabilities 24.53% 25.31% 23.38% 24.81% 30.82% 22.55% 21.81% 26.05% 30.95% 30.94% 38.15% 42.66% 51.61% 58.50% 69.77% 65.09% 40.66% 15.47% 20.64% 26.09% 21.31% 20.57% 19.94%
Preferred stock, par value $0.0001; no shares issued or outstanding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, par value $0.0001 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 4.75 4.02 2.91 2.01 1.42 0.88 3.03 4.54 5.71 9.27 13.20 17.07 23.91 30.53 38.29 65.45 101.62 134.14 158.05 167.95 164.59 153.22 141.55
Accumulated other comprehensive income (loss) 0.07 -0.45 -0.60 -0.67 -1.08 -1.20 -1.11 -1.43 -1.35 -0.92 -0.67 -0.10 0.15 0.10 0.01 0.04 0.10 0.24 -0.30 0.11 0.18 0.16 0.03
Retained earnings (accumulated deficit) 70.65 71.12 74.31 73.84 68.84 77.77 76.27 70.85 64.69 60.71 49.31 40.37 24.33 10.88 -8.06 -30.58 -42.38 -49.84 -78.39 -94.15 -86.09 -73.96 -61.53
Stockholders’ equity 75.47% 74.69% 76.62% 75.19% 69.18% 77.45% 78.19% 73.95% 69.05% 69.06% 61.85% 57.34% 48.39% 41.50% 30.23% 34.91% 59.34% 84.53% 79.36% 73.91% 78.69% 79.43% 80.06%
Total liabilities and stockholders’ equity 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).

Accounts Payable
The accounts payable ratio, expressed as a percentage of total liabilities and stockholders’ equity, has fluctuated over the periods. It generally remained below 1% until early 2021 but showed a rising trend afterwards, peaking at 2.82% in December 2023 before slightly declining to 2.36% by September 2024. This indicates a recent increase in short-term obligations to suppliers relative to the company's capital structure.
Accrued Liabilities
Accrued liabilities increased notably from about 2.34% in Q1 2019 to a peak of 11.43% in Q3 2023, demonstrating a growth in expenses recognized before payment. Although there was some decrease after the peak, the ratio remained elevated around 8.5% by Q3 2024, suggesting consistent accruals linked to operating activities.
Deferred Revenue (Current)
This item experienced substantial volatility. Initially stable around 4-5% through 2019, it surged dramatically to 52.71% at the end of 2020, peaking near 59.33% in Q1 2021, reflecting an increase in payments received before recognizing revenue. Since then, it has steadily declined to a low of 2.4% by September 2024, indicating a normalization in revenue recognition patterns or changes in billing structures.
Income Taxes Payable
Data is available only from late 2021. The ratio peaked at nearly 5.77% in Q1 2022, then generally decreased, stabilizing close to zero by mid-2024. This pattern may reflect fluctuations in taxable income and timing differences in tax payments.
Other Current Liabilities
Other current liabilities showed a rising trend starting from near 0.25% in early 2019, reaching a temporary peak of 3.79% in Q2 2021 but fluctuating thereafter, ending near 0.44% at Q3 2024. This volatility suggests episodic recognition of miscellaneous current obligations.
Current Liabilities (Aggregate)
Current liabilities as a whole increased substantially in 2020, from approximately 6.51% in Q1 to nearly 67% by Q1 2021, largely impacted by deferred revenue growth. This was followed by a progressive decline to about 14% by mid-2024, indicating a shifting balance from short-term liabilities.
Deferred Revenue (Non-current)
Non-current deferred revenue steadily decreased from 8.68% in early 2019 to below 1% by mid-2024, except for minor fluctuations. This trend suggests a reduction in long-term advance payments or obligations.
Operating Lease Liabilities (Non-current)
Introduced around 2019-2020, this liability decreased from 5.89% in Q1 2020 to around 0.3%-0.5% by 2023, followed by a sharp increase near 4.3% in mid-2024. This pattern may reflect lease accounting changes or new lease agreements.
Financing Lease Liabilities (Non-current)
Financing lease liabilities showed moderate fluctuations without a clear trend, generally ranging between 1.5% and 3.95%, ending on a slightly rising note by Q3 2024, indicating ongoing leasing obligations.
Other Non-current Liabilities
This category grew steadily from negligible levels to approximately 1.75% by Q3 2024, indicating increasing long-term obligations outside of leases and deferred revenue.
Non-current Liabilities (Aggregate)
Non-current liabilities decreased notably from 17.08% in late 2019 to around 3.27% by Q1 2021 but increased thereafter, reaching nearly 10.6% in late 2024. This reflects the company's changing long-term liability structure, potentially due to lease adjustments and other commitments.
Total Liabilities
Total liabilities fluctuated substantially, rising from about 20% in early 2019 to a peak near 70% in early 2021, driven primarily by increases in deferred revenue and current liabilities. They declined thereafter to roughly 24%-25% by late 2024, indicating a significant reduction in overall liabilities relative to the company’s equity base.
Additional Paid-in Capital
Additional paid-in capital decreased markedly from a high of 167.95% in late 2019 to about 4-5% during 2023-2024, reflecting either capital return, repurchases, or reclassification effects impacting equity components.
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive loss showed minor fluctuations, turning from slightly positive values in early periods to a peak negative loss of about -1.43% in late 2022, followed by some recovery to near zero by mid-2024, indicating volatility in items like foreign currency adjustments or unrealized gains/losses.
Retained Earnings (Accumulated Deficit)
Retained earnings displayed significant improvement over the period, shifting from a deficit of -94.15% in late 2019 to a positive balance over 70% by 2023-2024. This major reversal signals improved net profitability and accumulation of earnings.
Stockholders’ Equity
Stockholders’ equity as a percentage of total capital declined sharply from over 80% in early 2019 to about 30% during 2020 and early 2021, paralleling the spike in liabilities, particularly deferred revenue. Equity then recovered to approximately 75% by mid-2024, suggesting enhanced financial stability and increased retained earnings.
Total Liabilities and Stockholders’ Equity
Remained constant at 100% as expected, reflecting the balance sheet equation and consistent percentage base.