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Moderna Piotroski F-Score

: 5 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Moderna has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Moderna's Piotroski F-Score or its related term are showing as below:

MRNA' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 7
Current: 5

During the past 6 years, the highest Piotroski F-Score of Moderna was 7. The lowest was 2. And the median was 6.


Moderna Piotroski F-Score Historical Data

The historical data trend for Moderna's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Moderna Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only N/A N/A 3.00 4.00 7.00

Moderna Quarterly Data
Dec16 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 7.00 7.00 5.00

Competitive Comparison

For the Biotechnology subindustry, Moderna's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Moderna Piotroski F-Score Distribution

For the Biotechnology industry and Healthcare sector, Moderna's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Moderna's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 3333 + 4868 + 3657 + 2197 = $14,055 Mil.
Cash Flow from Operations was 3276 + 3310 + 2763 + 304 = $9,653 Mil.
Revenue was 4829 + 6949 + 5940 + 4566 = $22,284 Mil.
Gross Profit was 4107 + 5997 + 4923 + 3185 = $18,212 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(16153 + 20923 + 24669 + 27609 + 26043) / 5 = $23079.4 Mil.
Total Assets at the begining of this year (Jun21) was $16,153 Mil.
Long-Term Debt & Capital Lease Obligation was $728 Mil.
Total Current Assets was $13,563 Mil.
Total Current Liabilities was $6,812 Mil.
Net Income was -233 + -273 + 1221 + 2780 = $3,495 Mil.

Revenue was 12 + 229 + 1743 + 4215 = $6,199 Mil.
Gross Profit was 12 + 221 + 1550 + 3465 = $5,248 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(3486.006 + 4650.873 + 7337 + 12694 + 16153) / 5 = $8864.1758 Mil.
Total Assets at the begining of last year (Jun20) was $3,486 Mil.
Long-Term Debt & Capital Lease Obligation was $433 Mil.
Total Current Assets was $10,969 Mil.
Total Current Liabilities was $8,840 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Moderna's current Net Income (TTM) was 14,055. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Moderna's current Cash Flow from Operations (TTM) was 9,653. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun21)
=14055/16153
=0.87011701

ROA (Last Year)=Net Income/Total Assets (Jun20)
=3495/3486.006
=1.00258003

Moderna's return on assets of this year was 0.87011701. Moderna's return on assets of last year was 1.00258003. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Moderna's current Net Income (TTM) was 14,055. Moderna's current Cash Flow from Operations (TTM) was 9,653. ==> 9,653 <= 14,055 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=728/23079.4
=0.03154328

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=433/8864.1758
=0.04884831

Moderna's gearing of this year was 0.03154328. Moderna's gearing of last year was 0.04884831. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun22)=Total Current Assets/Total Current Liabilities
=13563/6812
=1.99104521

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=10969/8840
=1.2408371

Moderna's current ratio of this year was 1.99104521. Moderna's current ratio of last year was 1.2408371. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Moderna's number of shares in issue this year was 419. Moderna's number of shares in issue last year was 431. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=18212/22284
=0.81726799

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5248/6199
=0.84658816

Moderna's gross margin of this year was 0.81726799. Moderna's gross margin of last year was 0.84658816. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun21)
=22284/16153
=1.37955798

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=6199/3486.006
=1.77825282

Moderna's asset turnover of this year was 1.37955798. Moderna's asset turnover of last year was 1.77825282. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+0+1+1+1+0+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Moderna has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Moderna  (NAS:MRNA) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Moderna Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Moderna's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Moderna Business Description

Moderna logo
Address
200 Technology Square, Cambridge, MA, USA, 02139
Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020. Moderna had 44 mRNA development programs as of early 2022, with 25 of these in clinical trials. Programs span a wide range of therapeutic areas, including infectious disease, oncology, cardiovascular disease, and rare genetic diseases.
Executives
Gomez Jorge M officer: See Remarks C/O DENTSPLY SIRONA INC 13320 BALLANTYNE CORPORATE PLACE CHARLOTTE NC 28277
Burton Paul officer: Chief Medical Officer 200 TECHNOLOGY SQUARE CAMBRIDGE MA 02139
Klinger Shannon Thyme officer: Chief Legal Officer 200 TECHNOLOGY SQUARE SUITE 300 CAMBRIDGE MA 02139
Le Goff Corinne officer: Chief Commercial Officer 200 TECHNOLOGY SQUARE SUITE 300 CAMBRIDGE MA 02139
Tallett Elizabeth E director 6705 ROCKLEDGE DR SUITE 900 BETHESDA MD 20817
Meline David W officer: Chief Financial Officer 3M COMPANY 3M OFFICE OF GENERAL COUNSEL ST PAUL MN 55144-1000
Horning Sandra director 333 LAKESIDE DRIVE FOSTER CITY CA 94404
Nader Francois director 550 HILLS DRIVE BEDMINSTER NJ 07921
Flagship Venturelabs Iv, Llc 10 percent owner 55 CAMBRIDGE PARKWAY, 8TH FLOOR CAMBRIDGE MA 02143
Sagan Paul director AKAMAI TECHNOLOGIES INC 8 CAMBRIDGE CENTER CAMBRIDGE MA 02142
Ruiz Israel director C/O FORTIVE CORPORATION 6920 SEAWAY BOULEVARD EVERETT WA 98203
Zaks Tal Zvi officer: Chief Medical Officer C/O ADAPTIMMUNE THERAPEUTICS PLC 60 JUBILEE AVE, MILTON PARK ABINGDON, OXFORDSHIRE X0 OX14 4RX
Nabel Elizabeth G director BRIGHAM AND WOMEN'S HOSPITAL 75 FRANCIS ST BOSTON MA 02115
Hoge Stephen officer: President C/O MODERNA, INC. 200 TECHNOLOGY SQUARE CAMBRIDGE MA 02139
Henderson Lori M. officer: General Counsel and Secretary MOLDFLOW CORP 430 BOSTON POST ROAD WAYLAND MA 01778

Moderna Headlines

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