Total Asset Turnover
since 2018
Calculation
Moderna Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Product sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.36 | = | 6,671) | ÷ | 18,426) |
| Dec 31, 2022 | 0.71 | = | 18,435) | ÷ | 25,858) |
| Dec 31, 2021 | 0.72 | = | 17,675) | ÷ | 24,669) |
| Dec 31, 2020 | 0.03 | = | 200) | ÷ | 7,337) |
| Dec 31, 2019 | 0.00 | = | —) | ÷ | 1,589) |
| Dec 31, 2018 | 0.00 | = | —) | ÷ | 1,962) |
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
The financial data reveals significant developments in the company's operations and asset utilization over the period from 2018 to 2023.
- Product Sales
- Product sales showed no reported data until 2020, when sales began at US$200 million. A dramatic increase occurred in 2021, with sales reaching US$17,675 million, peaking at US$18,435 million in 2022. However, in 2023, there was a notable decline, with sales falling to US$6,671 million. This pattern suggests a rapid surge in product demand followed by a substantial reduction, possibly indicative of market saturation, product lifecycle factors, or external market influences.
- Total Assets
- Total assets expanded significantly from US$1,589 million in 2019 to US$7,337 million in 2020, and then surged further to US$24,669 million in 2021. Assets stabilized somewhat in 2022 at US$25,858 million before contracting to US$18,426 million in 2023. The asset growth coincided with the increase in sales, reflecting possible investments in infrastructure, capacity, or acquisitions. The decrease in 2023 aligns with the decline in sales, which may indicate asset divestitures or write-downs.
- Total Asset Turnover
- The total asset turnover was minimal or unreported before 2020. Beginning at a low ratio of 0.03 in 2020, it improved sharply to 0.72 in 2021 and remained stable at 0.71 in 2022, reflecting increased efficiency in using assets to generate sales. In 2023, the ratio dropped to 0.36, signifying reduced asset utilization efficiency amid lower sales and asset levels.
Comparison to Competitors
Moderna Inc., total asset turnover, 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 | 0.36 | 0.40 | 0.28 | 0.47 | 0.28 | 0.53 | 0.43 | 0.51 | 0.56 | 0.26 | 0.40 | 0.43 | 0.43 |
| Dec 31, 2022 | 0.71 | 0.42 | 0.38 | 0.48 | 0.37 | 0.58 | 0.43 | 0.51 | 0.54 | 0.51 | 0.42 | 0.46 | 0.49 |
| Dec 31, 2021 | 0.72 | 0.38 | 0.40 | 0.42 | 0.35 | 0.58 | 0.40 | 0.52 | 0.46 | 0.45 | 0.63 | 0.41 | 0.56 |
| Dec 31, 2020 | 0.03 | 0.30 | 0.39 | 0.36 | 0.29 | 0.53 | 0.36 | 0.47 | 0.52 | 0.28 | 0.50 | 0.47 | 0.53 |
| Dec 31, 2019 | 0.00 | 0.37 | 0.37 | 0.20 | 0.29 | 0.57 | 0.36 | 0.52 | 0.55 | 0.31 | 0.53 | 0.44 | 0.50 |
| Dec 31, 2018 | 0.00 | 0.55 | 0.34 | 0.64 | 0.42 | 0.56 | 0.34 | 0.53 | 0.51 | 0.34 | 0.57 | 0.43 | 0.49 |
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., total asset turnover, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Moderna Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2023 | 0.36 | 0.40 |
| Dec 31, 2022 | 0.71 | 0.47 |
| Dec 31, 2021 | 0.72 | 0.45 |
| Dec 31, 2020 | 0.03 | 0.39 |
| Dec 31, 2019 | 0.00 | 0.39 |
| Dec 31, 2018 | 0.00 | 0.45 |
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., total asset turnover, long-term trends, comparison to industry (health care)
| Moderna Inc. | Health Care | |
|---|---|---|
| Dec 31, 2023 | 0.36 | 0.73 |
| Dec 31, 2022 | 0.71 | 0.75 |
| Dec 31, 2021 | 0.72 | 0.70 |
| Dec 31, 2020 | 0.03 | 0.64 |
| Dec 31, 2019 | 0.00 | 0.65 |
| Dec 31, 2018 | 0.00 | 0.68 |
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).