Operating Profit Margin
since 2018
Calculation
Moderna Inc., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Income (loss) from operations1 | ÷ | Product sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | -63.54% | = | 100 | × | (4,239) | ÷ | 6,671) |
| Dec 31, 2022 | 51.10% | = | 100 | × | 9,420) | ÷ | 18,435) |
| Dec 31, 2021 | 75.22% | = | 100 | × | 13,296) | ÷ | 17,675) |
| Dec 31, 2020 | -381.82% | = | 100 | × | (763) | ÷ | 200) |
| Dec 31, 2019 | — | = | 100 | × | (546) | ÷ | —) |
| Dec 31, 2018 | — | = | 100 | × | (413) | ÷ | —) |
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
- Income (loss) from operations
- The operating income shows significant volatility over the analyzed periods. Initially, there is an operating loss documented in 2018, 2019, and 2020, with losses deepening from -$413 million in 2018 to -$763 million in 2020. A notable shift occurs in 2021 with a substantial operating profit of $13,296 million, followed by a decrease to $9,420 million in 2022. In 2023, the company experienced a return to operating loss, amounting to -$4,239 million.
- Product sales
- Product sales were absent or negligible from 2018 to 2019, with the first recorded sales appearing in 2020 at $200 million. Thereafter, sales surged sharply to $17,675 million in 2021 and increased slightly to $18,435 million in 2022, before declining notably to $6,671 million in 2023. This pattern indicates a rapid growth phase followed by a considerable reduction in sales in the most recent year.
- Operating profit margin
- The operating profit margin reflects the fluctuations seen in income from operations. It was severely negative at -381.82% in 2020, indicating significant losses relative to sales. The margin improved remarkably to 75.22% in 2021, followed by a decrease to 51.1% in 2022, which still reflects high profitability. However, in 2023, the margin dropped back into negative territory at -63.54%, consistent with the operating loss reported.
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Comparison to Competitors
Moderna Inc., operating profit margin, long-term trends, comparison to competitors
| Moderna Inc. | AbbVie Inc. | Amgen Inc. | Danaher Corp. | Gilead Sciences Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | -63.54% | 23.49% | 29.35% | 21.77% | 28.24% | 30.85% | 16.00% | 38.83% |
| Dec 31, 2022 | 51.10% | 31.21% | 38.57% | 27.61% | 27.17% | 38.93% | 18.69% | 48.23% |
| Dec 31, 2021 | 75.22% | 31.89% | 31.44% | 25.35% | 36.72% | 55.67% | 25.57% | 36.73% |
| Dec 31, 2020 | -381.82% | 24.81% | 37.70% | 18.99% | 16.72% | 42.09% | 24.19% | 46.03% |
| Dec 31, 2019 | — | 39.03% | 43.57% | 18.25% | 19.38% | 28.10% | 17.99% | 28.77% |
| Dec 31, 2018 | — | 19.49% | 45.55% | 17.11% | 37.83% | 37.77% | 15.53% | 20.84% |
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).