Analysis of Short-term (Operating) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Moderna Inc., short-term (operating) activity ratios
Based on: 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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Moderna Inc. inventory turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Moderna Inc. receivables turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Moderna Inc. payables turnover ratio increased from 2020 to 2021 and from 2021 to 2022. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Moderna Inc. working capital turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Moderna Inc. number of days of inventory outstanding improved from 2020 to 2021 and from 2021 to 2022. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Moderna Inc. number of days of receivables outstanding improved from 2020 to 2021 and from 2021 to 2022. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Moderna Inc. operating cycle improved from 2020 to 2021 and from 2021 to 2022. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Moderna Inc. number of days of payables outstanding decreased from 2020 to 2021 and from 2021 to 2022. |
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Moderna Inc. cash conversion cycle improved from 2020 to 2021 and from 2021 to 2022. |
Inventory Turnover
Moderna Inc., inventory turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cost of sales | 5,416) | 2,617) | 8) | —) | —) | |
| Inventory | 949) | 1,441) | 47) | —) | —) | |
| Short-term Activity Ratio | ||||||
| Inventory turnover1 | 5.71 | 1.82 | 0.17 | — | — | |
| Benchmarks | ||||||
| Inventory Turnover, Competitors2 | ||||||
| AbbVie Inc. | 4.87 | 5.58 | 4.65 | 4.10 | — | |
| Amgen Inc. | 1.30 | 1.58 | 1.58 | 1.22 | — | |
| Bristol-Myers Squibb Co. | 4.33 | 4.74 | 5.68 | 1.88 | — | |
| Eli Lilly & Co. | 1.54 | 1.88 | 1.38 | 1.48 | — | |
| Gilead Sciences Inc. | 3.75 | 4.08 | 2.72 | 5.07 | — | |
| Johnson & Johnson | 2.49 | 2.87 | 3.04 | 3.05 | — | |
| Merck & Co. Inc. | 2.95 | 2.29 | 2.45 | 2.36 | — | |
| Pfizer Inc. | 3.82 | 3.40 | 1.08 | 1.23 | — | |
| Regeneron Pharmaceuticals Inc. | 0.65 | 1.25 | 0.58 | 0.55 | — | |
| Thermo Fisher Scientific Inc. | 4.60 | 3.88 | 4.02 | 4.22 | — | |
| Inventory Turnover, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 3.01 | 3.05 | 2.54 | 2.30 | — | |
| Inventory Turnover, Industry | ||||||
| Health Care | 10.98 | 11.07 | 9.97 | 10.08 | — | |
Based on: 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 2022 Calculation
Inventory turnover = Cost of sales ÷ Inventory
= 5,416 ÷ 949 = 5.71
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Moderna Inc. inventory turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Receivables Turnover
Moderna Inc., receivables turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Product sales | 18,435) | 17,675) | 200) | —) | —) | |
| Accounts receivable | 1,385) | 3,175) | 1,391) | 5) | 13) | |
| Short-term Activity Ratio | ||||||
| Receivables turnover1 | 13.31 | 5.57 | 0.14 | 0.00 | 0.00 | |
| Benchmarks | ||||||
| Receivables Turnover, Competitors2 | ||||||
| AbbVie Inc. | 5.16 | 5.63 | 5.19 | 6.13 | — | |
| Amgen Inc. | 4.46 | 4.96 | 5.36 | 5.47 | — | |
| Bristol-Myers Squibb Co. | 5.48 | 5.65 | 5.72 | 3.89 | — | |
| Eli Lilly & Co. | 4.14 | 4.24 | 4.18 | 4.91 | — | |
| Gilead Sciences Inc. | 5.65 | 6.01 | 4.98 | 6.18 | — | |
| Johnson & Johnson | 5.88 | 6.14 | 6.08 | 5.67 | — | |
| Merck & Co. Inc. | 6.27 | 5.28 | 6.11 | 6.91 | — | |
| Pfizer Inc. | 9.16 | 7.08 | 5.28 | 5.93 | — | |
| Regeneron Pharmaceuticals Inc. | 2.28 | 2.66 | 2.07 | 2.94 | — | |
| Thermo Fisher Scientific Inc. | 5.53 | 4.92 | 5.61 | 5.87 | — | |
| Receivables Turnover, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 5.71 | 5.47 | 5.29 | 5.55 | — | |
| Receivables Turnover, Industry | ||||||
| Health Care | 9.74 | 9.53 | 9.60 | 9.90 | — | |
Based on: 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 2022 Calculation
Receivables turnover = Product sales ÷ Accounts receivable
= 18,435 ÷ 1,385 = 13.31
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Moderna Inc. receivables turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Payables Turnover
Moderna Inc., payables turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cost of sales | 5,416) | 2,617) | 8) | —) | —) | |
| Accounts payable | 487) | 302) | 18) | 7) | 31) | |
| Short-term Activity Ratio | ||||||
| Payables turnover1 | 11.12 | 8.67 | 0.43 | 0.00 | 0.00 | |
| Benchmarks | ||||||
| Payables Turnover, Competitors2 | ||||||
| AbbVie Inc. | 5.94 | 6.05 | 6.76 | 5.12 | — | |
| Amgen Inc. | 4.08 | 4.72 | 4.33 | 3.18 | — | |
| Bristol-Myers Squibb Co. | 3.33 | 3.37 | 4.34 | 3.30 | — | |
| Eli Lilly & Co. | 3.43 | 4.38 | 3.41 | 3.36 | — | |
| Gilead Sciences Inc. | 6.25 | 9.36 | 5.42 | 6.56 | — | |
| Johnson & Johnson | 2.66 | 2.70 | 2.99 | 3.23 | — | |
| Merck & Co. Inc. | 4.08 | 2.96 | 3.37 | 3.78 | — | |
| Pfizer Inc. | 5.04 | 5.53 | 2.02 | 2.42 | — | |
| Regeneron Pharmaceuticals Inc. | 2.65 | 4.32 | 2.36 | 1.87 | — | |
| Thermo Fisher Scientific Inc. | 7.67 | 6.83 | 7.45 | 7.40 | — | |
| Payables Turnover, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 4.22 | 4.21 | 3.79 | 3.67 | — | |
| Payables Turnover, Industry | ||||||
| Health Care | 7.53 | 7.68 | 7.52 | 8.05 | — | |
Based on: 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 2022 Calculation
Payables turnover = Cost of sales ÷ Accounts payable
= 5,416 ÷ 487 = 11.12
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Moderna Inc. payables turnover ratio increased from 2020 to 2021 and from 2021 to 2022. |
Working Capital Turnover
Moderna Inc., working capital turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 13,431) | 16,071) | 6,298) | 1,129) | 1,563) | |
| Less: Current liabilities | 4,923) | 9,128) | 4,389) | 143) | 223) | |
| Working capital | 8,508) | 6,943) | 1,909) | 986) | 1,340) | |
| Product sales | 18,435) | 17,675) | 200) | —) | —) | |
| Short-term Activity Ratio | ||||||
| Working capital turnover1 | 2.17 | 2.55 | 0.10 | 0.00 | 0.00 | |
| Benchmarks | ||||||
| Working Capital Turnover, Competitors2 | ||||||
| AbbVie Inc. | — | — | — | 0.98 | — | |
| Amgen Inc. | 3.82 | 3.37 | 2.55 | 3.96 | — | |
| Bristol-Myers Squibb Co. | 8.30 | 3.95 | 3.72 | 2.28 | — | |
| Eli Lilly & Co. | 31.84 | 8.33 | 4.93 | 11.54 | — | |
| Gilead Sciences Inc. | 8.42 | 8.54 | 5.30 | 1.08 | — | |
| Johnson & Johnson | — | 5.95 | 9.44 | 8.81 | — | |
| Merck & Co. Inc. | 5.16 | 7.62 | 109.83 | 8.90 | — | |
| Pfizer Inc. | 11.00 | 4.78 | 4.58 | — | — | |
| Regeneron Pharmaceuticals Inc. | 0.96 | 1.59 | 1.20 | 1.41 | — | |
| Thermo Fisher Scientific Inc. | 5.46 | 5.87 | 2.76 | 4.48 | — | |
| Working Capital Turnover, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 8.84 | 6.23 | 5.95 | 3.59 | — | |
| Working Capital Turnover, Industry | ||||||
| Health Care | 20.51 | 14.48 | 14.33 | 9.16 | — | |
Based on: 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 2022 Calculation
Working capital turnover = Product sales ÷ Working capital
= 18,435 ÷ 8,508 = 2.17
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Moderna Inc. working capital turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Average Inventory Processing Period
Moderna Inc., average inventory processing period calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Inventory turnover | 5.71 | 1.82 | 0.17 | — | — | |
| Short-term Activity Ratio (no. days) | ||||||
| Average inventory processing period1 | 64 | 201 | 2,141 | — | — | |
| Benchmarks (no. days) | ||||||
| Average Inventory Processing Period, Competitors2 | ||||||
| AbbVie Inc. | 75 | 65 | 79 | 89 | — | |
| Amgen Inc. | 281 | 231 | 231 | 300 | — | |
| Bristol-Myers Squibb Co. | 84 | 77 | 64 | 194 | — | |
| Eli Lilly & Co. | 237 | 194 | 265 | 247 | — | |
| Gilead Sciences Inc. | 97 | 89 | 134 | 72 | — | |
| Johnson & Johnson | 147 | 127 | 120 | 119 | — | |
| Merck & Co. Inc. | 124 | 159 | 149 | 155 | — | |
| Pfizer Inc. | 95 | 107 | 338 | 296 | — | |
| Regeneron Pharmaceuticals Inc. | 562 | 292 | 625 | 661 | — | |
| Thermo Fisher Scientific Inc. | 79 | 94 | 91 | 87 | — | |
| Average Inventory Processing Period, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 121 | 120 | 144 | 159 | — | |
| Average Inventory Processing Period, Industry | ||||||
| Health Care | 33 | 33 | 37 | 36 | — | |
Based on: 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 2022 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.71 = 64
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Moderna Inc. number of days of inventory outstanding improved from 2020 to 2021 and from 2021 to 2022. |
Average Receivable Collection Period
Moderna Inc., average receivable collection period calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Receivables turnover | 13.31 | 5.57 | 0.14 | 0.00 | 0.00 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average receivable collection period1 | 27 | 66 | 2,539 | — | — | |
| Benchmarks (no. days) | ||||||
| Average Receivable Collection Period, Competitors2 | ||||||
| AbbVie Inc. | 71 | 65 | 70 | 60 | — | |
| Amgen Inc. | 82 | 74 | 68 | 67 | — | |
| Bristol-Myers Squibb Co. | 67 | 65 | 64 | 94 | — | |
| Eli Lilly & Co. | 88 | 86 | 87 | 74 | — | |
| Gilead Sciences Inc. | 65 | 61 | 73 | 59 | — | |
| Johnson & Johnson | 62 | 59 | 60 | 64 | — | |
| Merck & Co. Inc. | 58 | 69 | 60 | 53 | — | |
| Pfizer Inc. | 40 | 52 | 69 | 62 | — | |
| Regeneron Pharmaceuticals Inc. | 160 | 137 | 177 | 124 | — | |
| Thermo Fisher Scientific Inc. | 66 | 74 | 65 | 62 | — | |
| Average Receivable Collection Period, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 64 | 67 | 69 | 66 | — | |
| Average Receivable Collection Period, Industry | ||||||
| Health Care | 37 | 38 | 38 | 37 | — | |
Based on: 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 2022 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 13.31 = 27
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Moderna Inc. number of days of receivables outstanding improved from 2020 to 2021 and from 2021 to 2022. |
Operating Cycle
Moderna Inc., operating cycle calculation, comparison to benchmarks
No. days
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Average inventory processing period | 64 | 201 | 2,141 | — | — | |
| Average receivable collection period | 27 | 66 | 2,539 | — | — | |
| Short-term Activity Ratio | ||||||
| Operating cycle1 | 91 | 267 | 4,680 | — | — | |
| Benchmarks | ||||||
| Operating Cycle, Competitors2 | ||||||
| AbbVie Inc. | 146 | 130 | 149 | 149 | — | |
| Amgen Inc. | 363 | 305 | 299 | 367 | — | |
| Bristol-Myers Squibb Co. | 151 | 142 | 128 | 288 | — | |
| Eli Lilly & Co. | 325 | 280 | 352 | 321 | — | |
| Gilead Sciences Inc. | 162 | 150 | 207 | 131 | — | |
| Johnson & Johnson | 209 | 186 | 180 | 183 | — | |
| Merck & Co. Inc. | 182 | 228 | 209 | 208 | — | |
| Pfizer Inc. | 135 | 159 | 407 | 358 | — | |
| Regeneron Pharmaceuticals Inc. | 722 | 429 | 802 | 785 | — | |
| Thermo Fisher Scientific Inc. | 145 | 168 | 156 | 149 | — | |
| Operating Cycle, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 185 | 187 | 213 | 225 | — | |
| Operating Cycle, Industry | ||||||
| Health Care | 70 | 71 | 75 | 73 | — | |
Based on: 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 2022 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 64 + 27 = 91
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Moderna Inc. operating cycle improved from 2020 to 2021 and from 2021 to 2022. |
Average Payables Payment Period
Moderna Inc., average payables payment period calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Payables turnover | 11.12 | 8.67 | 0.43 | 0.00 | 0.00 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average payables payment period1 | 33 | 42 | 845 | — | — | |
| Benchmarks (no. days) | ||||||
| Average Payables Payment Period, Competitors2 | ||||||
| AbbVie Inc. | 61 | 60 | 54 | 71 | — | |
| Amgen Inc. | 90 | 77 | 84 | 115 | — | |
| Bristol-Myers Squibb Co. | 109 | 108 | 84 | 110 | — | |
| Eli Lilly & Co. | 106 | 83 | 107 | 109 | — | |
| Gilead Sciences Inc. | 58 | 39 | 67 | 56 | — | |
| Johnson & Johnson | 137 | 135 | 122 | 113 | — | |
| Merck & Co. Inc. | 89 | 123 | 108 | 97 | — | |
| Pfizer Inc. | 72 | 66 | 181 | 151 | — | |
| Regeneron Pharmaceuticals Inc. | 138 | 84 | 155 | 195 | — | |
| Thermo Fisher Scientific Inc. | 48 | 53 | 49 | 49 | — | |
| Average Payables Payment Period, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 87 | 87 | 96 | 100 | — | |
| Average Payables Payment Period, Industry | ||||||
| Health Care | 48 | 48 | 49 | 45 | — | |
Based on: 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 2022 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 11.12 = 33
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Moderna Inc. number of days of payables outstanding decreased from 2020 to 2021 and from 2021 to 2022. |
Cash Conversion Cycle
Moderna Inc., cash conversion cycle calculation, comparison to benchmarks
No. days
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Average inventory processing period | 64 | 201 | 2,141 | — | — | |
| Average receivable collection period | 27 | 66 | 2,539 | — | — | |
| Average payables payment period | 33 | 42 | 845 | — | — | |
| Short-term Activity Ratio | ||||||
| Cash conversion cycle1 | 58 | 225 | 3,835 | — | — | |
| Benchmarks | ||||||
| Cash Conversion Cycle, Competitors2 | ||||||
| AbbVie Inc. | 85 | 70 | 95 | 78 | — | |
| Amgen Inc. | 273 | 228 | 215 | 252 | — | |
| Bristol-Myers Squibb Co. | 42 | 34 | 44 | 178 | — | |
| Eli Lilly & Co. | 219 | 197 | 245 | 212 | — | |
| Gilead Sciences Inc. | 104 | 111 | 140 | 75 | — | |
| Johnson & Johnson | 72 | 51 | 58 | 70 | — | |
| Merck & Co. Inc. | 93 | 105 | 101 | 111 | — | |
| Pfizer Inc. | 63 | 93 | 226 | 207 | — | |
| Regeneron Pharmaceuticals Inc. | 584 | 345 | 647 | 590 | — | |
| Thermo Fisher Scientific Inc. | 97 | 115 | 107 | 100 | — | |
| Cash Conversion Cycle, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 98 | 100 | 117 | 125 | — | |
| Cash Conversion Cycle, Industry | ||||||
| Health Care | 22 | 23 | 26 | 28 | — | |
Based on: 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 2022 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 64 + 27 – 33 = 58
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Moderna Inc. cash conversion cycle improved from 2020 to 2021 and from 2021 to 2022. |