Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
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 (quarterly data)
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).
| 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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Moderna Inc. receivables turnover ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Moderna Inc. payables turnover ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Moderna Inc. working capital turnover ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| 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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| 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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Moderna Inc. operating cycle deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| 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 increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| 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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Inventory Turnover
Moderna Inc., inventory turnover calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Cost of sales | 514) | 115) | 96) | 929) | 2,241) | 731) | 792) | 1,918) | 1,100) | 1,381) | 1,017) | 952) | 722) | 750) | 193) | 8) | —) | —) | —) | —) | —) | —) | —) | |||||||
| Inventory | 412) | 399) | 295) | 202) | 487) | 715) | 732) | 949) | 2,077) | 1,921) | 1,942) | 1,441) | 965) | 643) | 494) | 47) | —) | —) | —) | —) | —) | —) | —) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Inventory turnover1 | 4.01 | 8.47 | 13.55 | 23.23 | 11.67 | 6.35 | 7.09 | 5.71 | 2.14 | 2.12 | 1.77 | 1.82 | 1.73 | 1.48 | 0.41 | 0.17 | — | — | — | — | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 4.09 | 4.86 | 4.83 | 4.98 | 4.74 | 4.30 | 4.53 | 4.87 | 5.54 | 4.99 | 4.96 | 5.58 | 5.76 | 5.45 | 5.40 | 4.65 | — | — | — | — | — | — | — | |||||||
| Amgen Inc. | 1.75 | 1.42 | 1.14 | 0.89 | 1.41 | 1.38 | 1.31 | 1.30 | 1.34 | 1.40 | 1.48 | 1.58 | 1.53 | 1.53 | 1.53 | 1.58 | — | — | — | — | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 3.57 | 3.72 | 3.70 | 4.02 | 4.33 | 4.39 | 3.93 | 4.33 | 4.77 | 4.59 | 4.55 | 4.74 | 4.85 | 5.01 | 5.61 | 5.68 | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 3.60 | 3.59 | 3.73 | 3.80 | 3.53 | 3.58 | 3.50 | 4.03 | 3.80 | 3.71 | 3.87 | 4.16 | 4.06 | 4.28 | 4.34 | 4.28 | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 1.05 | 1.16 | 1.17 | 1.23 | 1.40 | 1.37 | 1.36 | 1.54 | 1.86 | 1.79 | 1.93 | 1.88 | 1.79 | 1.80 | 1.68 | 1.38 | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 3.62 | 3.33 | 3.59 | 3.64 | 3.49 | 3.45 | 3.57 | 3.75 | 4.71 | 4.50 | 4.50 | 4.08 | 3.21 | 2.99 | 2.79 | 2.72 | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 2.15 | 2.20 | 2.32 | 2.37 | 2.46 | 2.23 | 2.36 | 2.49 | 2.68 | 2.69 | 2.77 | 2.87 | 2.86 | 2.91 | 2.86 | 3.04 | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 2.45 | 2.39 | 2.42 | 2.54 | 2.63 | 2.66 | 2.72 | 2.95 | 3.10 | 3.06 | 2.74 | 2.29 | 2.73 | 2.79 | 2.40 | 2.45 | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 1.66 | 2.05 | 2.15 | 2.45 | 2.65 | 2.31 | 3.07 | 3.82 | 3.62 | 3.66 | 3.67 | 3.40 | 2.78 | 1.80 | 1.28 | 1.08 | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 0.64 | 0.65 | 0.66 | 0.70 | 0.72 | 0.69 | 0.67 | 0.65 | 0.83 | 0.96 | 1.27 | 1.25 | 0.88 | 0.82 | 0.56 | 0.58 | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 4.62 | 4.83 | 4.93 | 5.06 | 4.83 | 4.64 | 4.62 | 4.60 | 4.29 | 4.03 | 3.87 | 3.88 | 3.90 | 4.03 | 4.01 | 4.02 | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 1.37 | 1.53 | 1.65 | 1.71 | 1.71 | 1.90 | 2.06 | 2.35 | 2.69 | 2.70 | 2.83 | 2.56 | 2.58 | 2.52 | 2.56 | 2.62 | — | — | — | — | — | — | — | |||||||
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).
1 Q3 2024 Calculation
Inventory turnover
= (Cost of salesQ3 2024
+ Cost of salesQ2 2024
+ Cost of salesQ1 2024
+ Cost of salesQ4 2023)
÷ Inventory
= (514 + 115 + 96 + 929)
÷ 412 = 4.01
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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Receivables Turnover
Moderna Inc., receivables turnover calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Net product sales | 1,820) | 184) | 167) | 2,793) | 1,757) | 293) | 1,828) | 4,859) | 3,120) | 4,531) | 5,925) | 6,935) | 4,810) | 4,197) | 1,733) | 200) | —) | —) | —) | —) | —) | —) | —) | |||||||
| Accounts receivable, net | 1,564) | 163) | 137) | 892) | 1,866) | 232) | 1,113) | 1,385) | 2,695) | 2,691) | 3,173) | 3,175) | 3,142) | 2,020) | 3,210) | 1,391) | 191) | 33) | 7) | 5) | 8) | 5) | 7) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Receivables turnover1 | 3.17 | 30.07 | 36.57 | 7.48 | 4.68 | 43.53 | 12.88 | 13.31 | 7.61 | 8.25 | 6.89 | 5.57 | 3.48 | 3.03 | 0.60 | 0.14 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 4.84 | 4.69 | 4.55 | 4.87 | 4.83 | 4.88 | 4.95 | 5.16 | 5.38 | 5.10 | 5.29 | 5.63 | 5.94 | 5.42 | 5.24 | 5.19 | — | — | — | — | — | — | — | |||||||
| Amgen Inc. | 4.26 | 4.26 | 4.16 | 3.70 | 4.17 | 4.34 | 4.34 | 4.46 | 4.60 | 4.62 | 4.81 | 4.96 | 5.11 | 5.39 | 5.41 | 5.36 | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 6.77 | 7.15 | 7.02 | 6.09 | 6.15 | 6.64 | 6.89 | 6.40 | 7.09 | 6.81 | 6.87 | 6.36 | 6.69 | 6.51 | 6.28 | 5.51 | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 3.97 | 3.53 | 4.56 | 3.75 | 3.93 | 3.93 | 3.68 | 4.14 | 4.35 | 4.57 | 4.64 | 4.24 | 4.69 | 4.58 | 4.56 | 4.18 | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 6.14 | 5.92 | 5.84 | 5.78 | 5.68 | 6.43 | 6.43 | 5.65 | 6.16 | 6.60 | 7.18 | 6.01 | 5.95 | 6.34 | 6.43 | 4.98 | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 5.42 | 5.48 | 5.73 | 5.73 | 5.91 | 5.36 | 5.65 | 5.88 | 6.04 | 5.92 | 6.08 | 6.14 | 6.13 | 6.00 | 5.64 | 6.08 | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 5.55 | 5.37 | 5.40 | 5.81 | 5.71 | 5.29 | 5.56 | 6.27 | 6.22 | 5.93 | 5.49 | 5.28 | 5.56 | 6.00 | 5.65 | 6.11 | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 4.18 | 4.93 | 5.09 | 5.33 | 6.25 | 7.66 | 7.57 | 9.16 | 6.21 | 6.68 | 6.99 | 7.08 | 5.81 | 5.23 | 4.70 | 5.28 | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 2.27 | 2.36 | 2.51 | 2.31 | 2.35 | 2.47 | 2.42 | 2.28 | 2.47 | 2.76 | 3.41 | 2.66 | 2.48 | 1.77 | 2.20 | 2.07 | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 5.13 | 5.33 | 5.36 | 5.21 | 5.19 | 5.43 | 5.53 | 5.53 | 5.76 | 5.53 | 5.21 | 4.92 | 7.03 | 6.99 | 6.46 | 5.61 | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 6.07 | 6.24 | 5.68 | 6.31 | 6.27 | 6.11 | 5.95 | 6.19 | 6.28 | 6.26 | 6.15 | 6.66 | 6.48 | 7.19 | 6.56 | 7.01 | — | — | — | — | — | — | — | |||||||
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).
1 Q3 2024 Calculation
Receivables turnover
= (Net product salesQ3 2024
+ Net product salesQ2 2024
+ Net product salesQ1 2024
+ Net product salesQ4 2023)
÷ Accounts receivable, net
= (1,820 + 184 + 167 + 2,793)
÷ 1,564 = 3.17
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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Payables Turnover
Moderna Inc., payables turnover calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Cost of sales | 514) | 115) | 96) | 929) | 2,241) | 731) | 792) | 1,918) | 1,100) | 1,381) | 1,017) | 952) | 722) | 750) | 193) | 8) | —) | —) | —) | —) | —) | —) | —) | |||||||
| Accounts payable | 373) | 279) | 183) | 520) | 494) | 310) | 389) | 487) | 330) | 181) | 199) | 302) | 87) | 77) | 8) | 18) | 21) | 19) | 11) | 7) | 12) | 30) | 39) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Payables turnover1 | 4.43 | 12.12 | 21.84 | 9.03 | 11.50 | 14.65 | 13.34 | 11.12 | 13.48 | 22.50 | 17.29 | 8.67 | 19.23 | 12.35 | 25.12 | 0.43 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Amgen Inc. | 5.99 | 5.01 | 6.10 | 5.32 | 5.22 | 5.67 | 4.97 | 4.08 | 5.30 | 5.09 | 4.65 | 4.72 | 5.41 | 4.92 | 4.40 | 4.33 | — | — | — | — | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 3.43 | 3.05 | 3.12 | 3.28 | 3.75 | 3.38 | 3.20 | 3.33 | 3.82 | 3.41 | 3.25 | 3.37 | 3.89 | 2.97 | 3.69 | 4.34 | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 6.04 | 5.84 | 5.88 | 5.58 | 5.63 | 5.82 | 5.68 | 5.45 | 5.61 | 5.00 | 5.04 | 4.48 | 5.20 | 5.54 | 5.29 | 4.79 | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 2.70 | 2.56 | 2.88 | 2.73 | 2.81 | 2.65 | 3.07 | 3.43 | 4.24 | 4.21 | 5.24 | 4.38 | 4.46 | 4.30 | 3.75 | 3.41 | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 7.49 | 12.57 | 10.69 | 11.81 | 9.90 | 9.06 | 8.99 | 6.25 | 11.22 | 11.89 | 11.43 | 9.36 | 9.18 | 8.70 | 8.71 | 5.42 | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 3.03 | 3.03 | 3.23 | 2.76 | 3.29 | 2.75 | 3.05 | 2.66 | 3.08 | 3.15 | 3.26 | 2.70 | 3.32 | 3.38 | 3.34 | 2.99 | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 4.26 | 4.39 | 4.48 | 4.11 | 4.59 | 4.58 | 4.34 | 4.08 | 5.16 | 4.86 | 4.25 | 2.96 | 4.54 | 3.93 | 3.81 | 3.37 | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 3.67 | 4.60 | 4.19 | 3.72 | 5.07 | 3.92 | 4.78 | 5.04 | 5.49 | 6.17 | 6.66 | 5.53 | 5.11 | 3.72 | 2.68 | 2.02 | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 3.87 | 3.32 | 2.67 | 2.99 | 3.43 | 3.14 | 2.69 | 2.65 | 3.74 | 4.00 | 5.39 | 4.32 | 4.23 | 3.42 | 2.23 | 2.36 | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 9.63 | 9.85 | 9.91 | 8.97 | 10.41 | 10.82 | 9.35 | 7.67 | 9.93 | 8.84 | 7.96 | 6.83 | 8.31 | 8.88 | 8.12 | 7.45 | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 3.73 | 4.27 | 3.81 | 3.46 | 3.13 | 3.16 | 3.41 | 3.55 | 8.23 | 5.01 | 5.52 | 4.64 | 6.73 | 6.35 | 5.99 | 4.75 | — | — | — | — | — | — | — | |||||||
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).
1 Q3 2024 Calculation
Payables turnover
= (Cost of salesQ3 2024
+ Cost of salesQ2 2024
+ Cost of salesQ1 2024
+ Cost of salesQ4 2023)
÷ Accounts payable
= (514 + 115 + 96 + 929)
÷ 373 = 4.43
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 decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Working Capital Turnover
Moderna Inc., working capital turnover calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current assets | 9,666) | 9,661) | 9,600) | 10,325) | 10,799) | 10,599) | 12,122) | 13,431) | 14,297) | 13,563) | 16,350) | 16,071) | 13,425) | 10,969) | 11,703) | 6,298) | 3,577) | 2,797) | 1,250) | 1,129) | 1,094) | 1,097) | 1,141) | |||||||
| Less: Current liabilities | 2,201) | 2,363) | 2,380) | 3,015) | 4,385) | 3,123) | 3,499) | 4,923) | 6,807) | 6,812) | 9,238) | 9,128) | 9,957) | 8,840) | 8,441) | 4,389) | 1,474) | 162) | 135) | 143) | 148) | 162) | 159) | |||||||
| Working capital | 7,465) | 7,298) | 7,220) | 7,310) | 6,414) | 7,476) | 8,623) | 8,508) | 7,490) | 6,751) | 7,112) | 6,943) | 3,468) | 2,129) | 3,262) | 1,909) | 2,104) | 2,635) | 1,115) | 986) | 947) | 935) | 982) | |||||||
| Net product sales | 1,820) | 184) | 167) | 2,793) | 1,757) | 293) | 1,828) | 4,859) | 3,120) | 4,531) | 5,925) | 6,935) | 4,810) | 4,197) | 1,733) | 200) | —) | —) | —) | —) | —) | —) | —) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Working capital turnover1 | 0.66 | 0.67 | 0.69 | 0.91 | 1.36 | 1.35 | 1.66 | 2.17 | 2.74 | 3.29 | 3.07 | 2.55 | 3.15 | 2.88 | 0.59 | 0.10 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | — | — | — | — | — | — | — | — | — | — | — | — | 130.12 | — | — | — | — | — | — | — | — | — | — | |||||||
| Amgen Inc. | 4.83 | 5.19 | 3.39 | 2.25 | 0.81 | 0.84 | 0.82 | 3.82 | 2.52 | 3.67 | 4.34 | 3.37 | 2.55 | 5.35 | 2.84 | 2.55 | — | — | — | — | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 8.49 | 12.50 | 15.56 | 4.60 | 10.47 | 5.53 | 5.55 | 8.30 | 5.75 | 4.92 | 6.24 | 3.95 | 4.43 | 4.24 | 4.25 | 3.72 | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 8.73 | 8.10 | 3.60 | 4.22 | 2.18 | 3.08 | 3.81 | 4.20 | 5.00 | 5.43 | 5.91 | 8.40 | 7.98 | 3.12 | 3.45 | 3.48 | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 6.06 | 12.62 | 5.45 | — | 31.79 | 12.21 | 5.77 | 31.84 | 14.71 | 19.45 | 8.19 | 8.33 | 6.73 | 12.14 | 5.21 | 4.93 | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 9.22 | 17.98 | 26.58 | 5.61 | 6.74 | 84.15 | 9.14 | 8.42 | 8.56 | 6.87 | 6.68 | 8.54 | 7.25 | 7.09 | 7.06 | 5.30 | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 58.86 | 22.29 | 10.35 | 11.81 | 9.37 | 14.06 | 23.02 | — | 4.88 | 5.02 | 5.57 | 5.95 | 5.97 | 5.93 | 7.26 | 9.44 | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 5.86 | 5.14 | 9.68 | 9.29 | 6.69 | 8.86 | 5.63 | 5.16 | 5.58 | 6.39 | 6.09 | 7.62 | 6.51 | 6.97 | 84.97 | 109.83 | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 5,036.00 | — | 29.17 | — | 1.62 | 2.03 | 6.89 | 11.00 | 3.83 | 5.05 | 6.10 | 4.78 | 4.29 | 4.21 | 3.60 | 4.58 | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 0.88 | 0.87 | 0.86 | 0.82 | 0.87 | 0.92 | 0.90 | 0.96 | 1.09 | 1.14 | 1.46 | 1.59 | 1.35 | 1.29 | 1.35 | 1.20 | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 4.61 | 3.96 | 4.38 | 4.05 | 4.86 | 7.40 | 10.13 | 5.46 | 5.40 | 6.03 | 6.13 | 5.87 | 2.30 | 3.10 | 3.36 | 2.76 | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 1.82 | 1.92 | 1.07 | 0.93 | 0.87 | 0.90 | 0.93 | 0.85 | 0.90 | 0.93 | 0.97 | 1.02 | 1.03 | 1.01 | 0.97 | 0.99 | — | — | — | — | — | — | — | |||||||
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).
1 Q3 2024 Calculation
Working capital turnover
= (Net product salesQ3 2024
+ Net product salesQ2 2024
+ Net product salesQ1 2024
+ Net product salesQ4 2023)
÷ Working capital
= (1,820 + 184 + 167 + 2,793)
÷ 7,465 = 0.66
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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Average Inventory Processing Period
Moderna Inc., average inventory processing period calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Inventory turnover | 4.01 | 8.47 | 13.55 | 23.23 | 11.67 | 6.35 | 7.09 | 5.71 | 2.14 | 2.12 | 1.77 | 1.82 | 1.73 | 1.48 | 0.41 | 0.17 | — | — | — | — | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||||
| Average inventory processing period1 | 91 | 43 | 27 | 16 | 31 | 57 | 51 | 64 | 170 | 172 | 206 | 201 | 211 | 247 | 897 | 2,141 | — | — | — | — | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 89 | 75 | 75 | 73 | 77 | 85 | 81 | 75 | 66 | 73 | 74 | 65 | 63 | 67 | 68 | 79 | — | — | — | — | — | — | — | |||||||
| Amgen Inc. | 209 | 257 | 321 | 411 | 259 | 265 | 279 | 281 | 272 | 260 | 247 | 231 | 239 | 239 | 239 | 231 | — | — | — | — | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 102 | 98 | 99 | 91 | 84 | 83 | 93 | 84 | 76 | 79 | 80 | 77 | 75 | 73 | 65 | 64 | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 101 | 102 | 98 | 96 | 104 | 102 | 104 | 91 | 96 | 98 | 94 | 88 | 90 | 85 | 84 | 85 | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 349 | 316 | 312 | 298 | 261 | 267 | 268 | 237 | 196 | 204 | 189 | 194 | 204 | 203 | 217 | 265 | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 101 | 110 | 102 | 100 | 105 | 106 | 102 | 97 | 78 | 81 | 81 | 89 | 114 | 122 | 131 | 134 | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 169 | 166 | 158 | 154 | 149 | 164 | 155 | 147 | 136 | 136 | 132 | 127 | 128 | 125 | 128 | 120 | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 149 | 153 | 151 | 144 | 139 | 137 | 134 | 124 | 118 | 119 | 133 | 159 | 134 | 131 | 152 | 149 | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 219 | 178 | 170 | 149 | 138 | 158 | 119 | 95 | 101 | 100 | 99 | 107 | 131 | 203 | 284 | 338 | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 573 | 562 | 553 | 519 | 508 | 532 | 549 | 562 | 440 | 379 | 287 | 292 | 415 | 445 | 653 | 625 | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 79 | 76 | 74 | 72 | 76 | 79 | 79 | 79 | 85 | 91 | 94 | 94 | 94 | 91 | 91 | 91 | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 267 | 238 | 222 | 214 | 213 | 192 | 177 | 156 | 136 | 135 | 129 | 143 | 142 | 145 | 142 | 139 | — | — | — | — | — | — | — | |||||||
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).
1 Q3 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 4.01 = 91
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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Average Receivable Collection Period
Moderna Inc., average receivable collection period calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Receivables turnover | 3.17 | 30.07 | 36.57 | 7.48 | 4.68 | 43.53 | 12.88 | 13.31 | 7.61 | 8.25 | 6.89 | 5.57 | 3.48 | 3.03 | 0.60 | 0.14 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||||
| Average receivable collection period1 | 115 | 12 | 10 | 49 | 78 | 8 | 28 | 27 | 48 | 44 | 53 | 66 | 105 | 120 | 606 | 2,539 | — | — | — | — | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 75 | 78 | 80 | 75 | 76 | 75 | 74 | 71 | 68 | 72 | 69 | 65 | 61 | 67 | 70 | 70 | — | — | — | — | — | — | — | |||||||
| Amgen Inc. | 86 | 86 | 88 | 99 | 88 | 84 | 84 | 82 | 79 | 79 | 76 | 74 | 71 | 68 | 67 | 68 | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 54 | 51 | 52 | 60 | 59 | 55 | 53 | 57 | 51 | 54 | 53 | 57 | 55 | 56 | 58 | 66 | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 92 | 103 | 80 | 97 | 93 | 93 | 99 | 88 | 84 | 80 | 79 | 86 | 78 | 80 | 80 | 87 | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 59 | 62 | 62 | 63 | 64 | 57 | 57 | 65 | 59 | 55 | 51 | 61 | 61 | 58 | 57 | 73 | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 67 | 67 | 64 | 64 | 62 | 68 | 65 | 62 | 60 | 62 | 60 | 59 | 60 | 61 | 65 | 60 | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 66 | 68 | 68 | 63 | 64 | 69 | 66 | 58 | 59 | 62 | 66 | 69 | 66 | 61 | 65 | 60 | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 87 | 74 | 72 | 69 | 58 | 48 | 48 | 40 | 59 | 55 | 52 | 52 | 63 | 70 | 78 | 69 | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 161 | 155 | 146 | 158 | 156 | 148 | 151 | 160 | 148 | 132 | 107 | 137 | 147 | 206 | 166 | 177 | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 71 | 68 | 68 | 70 | 70 | 67 | 66 | 66 | 63 | 66 | 70 | 74 | 52 | 52 | 56 | 65 | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 60 | 58 | 64 | 58 | 58 | 60 | 61 | 59 | 58 | 58 | 59 | 55 | 56 | 51 | 56 | 52 | — | — | — | — | — | — | — | |||||||
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).
1 Q3 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 3.17 = 115
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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Operating Cycle
Moderna Inc., operating cycle calculation (quarterly data)
No. days
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Average inventory processing period | 91 | 43 | 27 | 16 | 31 | 57 | 51 | 64 | 170 | 172 | 206 | 201 | 211 | 247 | 897 | 2,141 | — | — | — | — | — | — | — | |||||||
| Average receivable collection period | 115 | 12 | 10 | 49 | 78 | 8 | 28 | 27 | 48 | 44 | 53 | 66 | 105 | 120 | 606 | 2,539 | — | — | — | — | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Operating cycle1 | 206 | 55 | 37 | 65 | 109 | 65 | 79 | 91 | 218 | 216 | 259 | 267 | 316 | 367 | 1,503 | 4,680 | — | — | — | — | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 164 | 153 | 155 | 148 | 153 | 160 | 155 | 146 | 134 | 145 | 143 | 130 | 124 | 134 | 138 | 149 | — | — | — | — | — | — | — | |||||||
| Amgen Inc. | 295 | 343 | 409 | 510 | 347 | 349 | 363 | 363 | 351 | 339 | 323 | 305 | 310 | 307 | 306 | 299 | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 155 | 153 | 150 | 156 | 163 | 157 | 157 | 148 | 147 | 152 | 147 | 145 | 145 | 141 | 142 | 151 | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 441 | 419 | 392 | 395 | 354 | 360 | 367 | 325 | 280 | 284 | 268 | 280 | 282 | 283 | 297 | 352 | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 160 | 172 | 164 | 163 | 169 | 163 | 159 | 162 | 137 | 136 | 132 | 150 | 175 | 180 | 188 | 207 | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 236 | 233 | 222 | 218 | 211 | 232 | 220 | 209 | 196 | 198 | 192 | 186 | 188 | 186 | 193 | 180 | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 215 | 221 | 219 | 207 | 203 | 206 | 200 | 182 | 177 | 181 | 199 | 228 | 200 | 192 | 217 | 209 | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 306 | 252 | 242 | 218 | 196 | 206 | 167 | 135 | 160 | 155 | 151 | 159 | 194 | 273 | 362 | 407 | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 734 | 717 | 699 | 677 | 664 | 680 | 700 | 722 | 588 | 511 | 394 | 429 | 562 | 651 | 819 | 802 | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 150 | 144 | 142 | 142 | 146 | 146 | 145 | 145 | 148 | 157 | 164 | 168 | 146 | 143 | 147 | 156 | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 327 | 296 | 286 | 272 | 271 | 252 | 238 | 215 | 194 | 193 | 188 | 198 | 198 | 196 | 198 | 191 | — | — | — | — | — | — | — | |||||||
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).
1 Q3 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 91 + 115 = 206
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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Average Payables Payment Period
Moderna Inc., average payables payment period calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Payables turnover | 4.43 | 12.12 | 21.84 | 9.03 | 11.50 | 14.65 | 13.34 | 11.12 | 13.48 | 22.50 | 17.29 | 8.67 | 19.23 | 12.35 | 25.12 | 0.43 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||||
| Average payables payment period1 | 82 | 30 | 17 | 40 | 32 | 25 | 27 | 33 | 27 | 16 | 21 | 42 | 19 | 30 | 15 | 845 | — | — | — | — | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||||||
| Amgen Inc. | 61 | 73 | 60 | 69 | 70 | 64 | 73 | 90 | 69 | 72 | 78 | 77 | 67 | 74 | 83 | 84 | — | — | — | — | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 106 | 120 | 117 | 111 | 97 | 108 | 114 | 109 | 96 | 107 | 112 | 108 | 94 | 123 | 99 | 84 | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 60 | 63 | 62 | 65 | 65 | 63 | 64 | 67 | 65 | 73 | 72 | 82 | 70 | 66 | 69 | 76 | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 135 | 142 | 127 | 134 | 130 | 138 | 119 | 106 | 86 | 87 | 70 | 83 | 82 | 85 | 97 | 107 | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 49 | 29 | 34 | 31 | 37 | 40 | 41 | 58 | 33 | 31 | 32 | 39 | 40 | 42 | 42 | 67 | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 120 | 121 | 113 | 132 | 111 | 133 | 120 | 137 | 118 | 116 | 112 | 135 | 110 | 108 | 109 | 122 | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 86 | 83 | 81 | 89 | 80 | 80 | 84 | 89 | 71 | 75 | 86 | 123 | 80 | 93 | 96 | 108 | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 99 | 79 | 87 | 98 | 72 | 93 | 76 | 72 | 66 | 59 | 55 | 66 | 71 | 98 | 136 | 181 | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 94 | 110 | 137 | 122 | 106 | 116 | 136 | 138 | 98 | 91 | 68 | 84 | 86 | 107 | 164 | 155 | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 38 | 37 | 37 | 41 | 35 | 34 | 39 | 48 | 37 | 41 | 46 | 53 | 44 | 41 | 45 | 49 | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 98 | 85 | 96 | 106 | 117 | 115 | 107 | 103 | 44 | 73 | 66 | 79 | 54 | 57 | 61 | 77 | — | — | — | — | — | — | — | |||||||
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).
1 Q3 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 4.43 = 82
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 increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Cash Conversion Cycle
Moderna Inc., cash conversion cycle calculation (quarterly data)
No. days
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Average inventory processing period | 91 | 43 | 27 | 16 | 31 | 57 | 51 | 64 | 170 | 172 | 206 | 201 | 211 | 247 | 897 | 2,141 | — | — | — | — | — | — | — | |||||||
| Average receivable collection period | 115 | 12 | 10 | 49 | 78 | 8 | 28 | 27 | 48 | 44 | 53 | 66 | 105 | 120 | 606 | 2,539 | — | — | — | — | — | — | — | |||||||
| Average payables payment period | 82 | 30 | 17 | 40 | 32 | 25 | 27 | 33 | 27 | 16 | 21 | 42 | 19 | 30 | 15 | 845 | — | — | — | — | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Cash conversion cycle1 | 124 | 25 | 20 | 25 | 77 | 40 | 52 | 58 | 191 | 200 | 238 | 225 | 297 | 337 | 1,488 | 3,835 | — | — | — | — | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||||||
| Amgen Inc. | 234 | 270 | 349 | 441 | 277 | 285 | 290 | 273 | 282 | 267 | 245 | 228 | 243 | 233 | 223 | 215 | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | 95 | 90 | 88 | 91 | 98 | 94 | 93 | 81 | 82 | 79 | 75 | 63 | 75 | 75 | 73 | 75 | — | — | — | — | — | — | — | |||||||
| Eli Lilly & Co. | 306 | 277 | 265 | 261 | 224 | 222 | 248 | 219 | 194 | 197 | 198 | 197 | 200 | 198 | 200 | 245 | — | — | — | — | — | — | — | |||||||
| Gilead Sciences Inc. | 111 | 143 | 130 | 132 | 132 | 123 | 118 | 104 | 104 | 105 | 100 | 111 | 135 | 138 | 146 | 140 | — | — | — | — | — | — | — | |||||||
| Johnson & Johnson | 116 | 112 | 109 | 86 | 100 | 99 | 100 | 72 | 78 | 82 | 80 | 51 | 78 | 78 | 84 | 58 | — | — | — | — | — | — | — | |||||||
| Merck & Co. Inc. | 129 | 138 | 138 | 118 | 123 | 126 | 116 | 93 | 106 | 106 | 113 | 105 | 120 | 99 | 121 | 101 | — | — | — | — | — | — | — | |||||||
| Pfizer Inc. | 207 | 173 | 155 | 120 | 124 | 113 | 91 | 63 | 94 | 96 | 96 | 93 | 123 | 175 | 226 | 226 | — | — | — | — | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 640 | 607 | 562 | 555 | 558 | 564 | 564 | 584 | 490 | 420 | 326 | 345 | 476 | 544 | 655 | 647 | — | — | — | — | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 112 | 107 | 105 | 101 | 111 | 112 | 106 | 97 | 111 | 116 | 118 | 115 | 102 | 102 | 102 | 107 | — | — | — | — | — | — | — | |||||||
| Vertex Pharmaceuticals Inc. | 229 | 211 | 190 | 166 | 154 | 137 | 131 | 112 | 150 | 120 | 122 | 119 | 144 | 139 | 137 | 114 | — | — | — | — | — | — | — | |||||||
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).
1 Q3 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 91 + 115 – 82 = 124
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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |