Current Ratio
since 2018
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- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Analysis of Revenues
- Aggregate Accruals
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Calculation
Moderna Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | = | ÷ | |||
| Dec 31, 2022 | = | ÷ | |||
| Dec 31, 2021 | = | ÷ | |||
| Dec 31, 2020 | = | ÷ | |||
| Dec 31, 2019 | = | ÷ | |||
| Dec 31, 2018 | = | ÷ |
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), 10-K (reporting date: 2018-12-31).
1 US$ in millions
- Current Assets
- Current assets exhibited a significant increase from 2018 through 2021, escalating from 1,563 million US dollars to a peak of 16,071 million US dollars in 2021. This marked growth suggests a considerable accumulation of liquid and near-liquid assets during this period. However, after 2021, current assets declined to 13,431 million US dollars in 2022 and further decreased to 10,325 million US dollars in 2023, indicating a reduction in short-term asset holdings over the last two years.
- Current Liabilities
- Current liabilities remained relatively low in 2018 and 2019, with values of 223 million and 143 million US dollars respectively. There was a sharp increase in 2020 to 4,389 million US dollars, followed by a further rise to 9,128 million US dollars in 2021. Subsequently, current liabilities decreased substantially to 4,923 million US dollars in 2022 and dropped again to 3,015 million US dollars in 2023. This pattern indicates a rapid accumulation of short-term obligations in 2020 and 2021, followed by a steady reduction in liabilities thereafter.
- Current Ratio
- The current ratio demonstrated a significant decline from a high of 7.89 in 2019 to a low of 1.43 in 2020. This suggests a decreased ability to cover short-term liabilities with short-term assets during that year. However, the ratio improved from 2020 onwards, increasing to 1.76 in 2021, 2.73 in 2022, and 3.42 in 2023, reflecting an enhanced liquidity position and a more favorable balance between current assets and liabilities in recent years.
- Overall Analysis
- The data indicates a period of rapid growth in both current assets and current liabilities in 2020 and 2021, suggestive of significant operational or financial expansion activities. The sharp increase in liabilities during this phase temporarily pressured liquidity, as evident from the low current ratio in 2020. Subsequently, a strategic reduction in current liabilities coupled with a controlled decrease in current assets contributed to a strengthening liquidity position from 2021 to 2023. The improving current ratio over these years denotes enhanced short-term financial stability.
Comparison to Competitors
Moderna Inc., current ratio, long-term trends, comparison to competitors
| Moderna Inc. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | |||||||||||||
| Dec 31, 2022 | |||||||||||||
| Dec 31, 2021 | |||||||||||||
| Dec 31, 2020 | |||||||||||||
| Dec 31, 2019 | |||||||||||||
| Dec 31, 2018 |
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), 10-K (reporting date: 2018-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Moderna Inc., current ratio, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Moderna Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 |
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), 10-K (reporting date: 2018-12-31).
Comparison to Industry (Health Care)
Moderna Inc., current ratio, long-term trends, comparison to industry (health care)
| Moderna Inc. | Health Care | |
|---|---|---|
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 |
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), 10-K (reporting date: 2018-12-31).