Current Assets
Work in process
Moderna Work in process increased by 31.0% to $38.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 2.6%, from $39.00M to $38.00M. Over 5 years (FY 2020 to FY 2025), Work in process shows an upward trend with a 26.4% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
StatementBalance Sheet Statement
SectionCurrent Assets
CategoryEfficiency
SignalLower is better
VolatilityModerate
First reportedQ4 2020
Last reportedQ1 2026May 1, 2026
Parent metricInventories
How to read this metric
An increase may indicate production bottlenecks or scaling efforts, while a decrease suggests efficient throughput or reduced manufacturing activity.
Detailed definition
Represents the value of goods that have entered the production process but are not yet finished. For a manufacturer like...
Peer comparison
Peers in medical device manufacturing typically maintain lean WIP levels to optimize cash conversion cycles.
Metric ID:
inv_work_in_progressHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $224.00M | $233.00M | $338.00M | $513.00M | $379.00M | $366.00M | $205.00M | $193.00M | $196.00M | $61.00M | $15.00M | $60.00M | $166.00M | $95.00M | $26.00M | $39.00M | $112.00M | $119.00M | $29.00M | $38.00M |
| QoQ Change | — | +4.0% | +45.1% | +51.8% | -26.1% | -3.4% | -44.0% | -5.9% | +1.6% | -68.9% | -75.4% | +300.0% | +176.7% | -42.8% | -72.6% | +50.0% | +187.2% | +6.3% | -75.6% | +31.0% |
| YoY Change | — | — | — | — | +69.2% | +57.1% | -39.3% | -62.4% | -48.3% | -83.3% | -92.7% | -68.9% | -15.3% | +55.7% | +73.3% | -35.0% | -32.5% | +25.3% | +11.5% | -2.6% |
| % of Inventories | 34.8% | 24.1% | 23.5% | 26.4% | 19.7% | 17.6% | 22.5% | 22.1% | 27.1% | 28.9% | 8.8% | 41.4% | 103.1% | 146.2% | 17.3% | 29.1% | 88.2% | 103.5% | 25.4% | 32.5% |
| Share Change | — | -10.7pp | -0.7pp | +3.0pp | -6.7pp | -2.1pp | +4.9pp | -0.4pp | +5.0pp | +1.8pp | -20.1pp | +32.6pp | +61.7pp | +43.0pp | -128.8pp | +11.8pp | +59.1pp | +15.3pp | -78.0pp | +7.0pp |
Range$15.00M – $513.00M
CAGR-31.2%
Avg YoY Growth-11.8%
Median YoY Growth-23.9%
Work in process at Other Companies
Frequently Asked Questions
- What is Moderna's work in process?
- Moderna (MRNA) reported work in process of $38.00M in Q1 2026.
- How has Moderna's work in process changed year-over-year?
- Moderna's work in process decreased by 2.6% year-over-year, from $39.00M to $38.00M.
- What is the long-term trend for Moderna's work in process?
- Over 5 years (2020 to 2025), Moderna's work in process has grown at a 26.4% compound annual growth rate (CAGR), from $9.00M to $29.00M.
- What does work in process mean?
- The value of goods currently in the middle of the manufacturing process.