Cytek Biosciences Inc (CTKB)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Inventory turnover | 2.04 | 1.37 | 1.31 | 1.52 | 1.79 |
| Receivables turnover | — | — | — | — | — |
| Payables turnover | — | — | — | — | — |
| Working capital turnover | 0.61 | 0.57 | 0.41 | 0.32 | 0.51 |
Inventory Turnover:
Cytek Biosciences Inc's inventory turnover has decreased from 1.79 in 2020 to 1.52 in 2021, further declining to 1.31 in 2022, but then showing an improvement to 1.37 in 2023, and a significant increase to 2.04 in 2024. This indicates that the company's efficiency in managing its inventory has fluctuated over the years, with a notable improvement in 2024.
Receivables Turnover:
No data is available for Cytek Biosciences Inc's receivables turnover for the years provided. Receivables turnover is an important metric to assess how effectively a company is collecting payments from its customers. The lack of information in this area prevents a comprehensive analysis of the company's accounts receivable management.
Payables Turnover:
Similarly, no data is available for Cytek Biosciences Inc's payables turnover for the years specified. Payables turnover reflects how quickly a company pays its suppliers, which is crucial in managing working capital and maintaining relationships with vendors. The absence of this data limits the evaluation of the company's payables management.
Working Capital Turnover:
Cytek Biosciences Inc's working capital turnover has fluctuated over the years, increasing from 0.51 in 2020 to 0.61 in 2024. This metric measures how efficiently the company is using its working capital to generate sales revenue. The upward trend indicates an improvement in the company's ability to generate sales from its working capital, which is a positive sign for its operational efficiency.
Average number of days
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 179.31 | 265.83 | 278.71 | 240.59 | 204.27 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — |
Based on the provided data for Cytek Biosciences Inc, let's analyze the activity ratios:
1. Days of Inventory on Hand (DOH):
- The company's Days of Inventory on Hand has shown an increasing trend over the years, from 204.27 days as of December 31, 2020, to 179.31 days as of December 31, 2024.
- A higher DOH indicates that Cytek Biosciences is taking more time to sell its inventory, which may result in higher holding costs and potential obsolescence risk.
- The significant decrease in DOH from 2023 to 2024 is a positive sign as it implies better inventory management efficiency.
2. Days of Sales Outstanding (DSO):
- The data provided shows that there are no Days of Sales Outstanding figures available for any of the years (indicated as "— days").
- DSO is a measure of how long it takes for the company to collect cash from credit sales. The lack of data makes it difficult to evaluate Cytek Biosciences' effectiveness in collecting receivables.
3. Number of Days of Payables:
- Similar to DSO, there are no Number of Days of Payables figures available for any of the years (also indicated as "— days").
- The Number of Days of Payables ratio reflects how long the company takes to pay its suppliers. Without this data, it is challenging to gauge Cytek Biosciences' payment practices and liquidity management.
In conclusion, while the Days of Inventory on Hand ratio showed an improving trend over the years, the lack of data for Days of Sales Outstanding and Number of Days of Payables limits a comprehensive assessment of Cytek Biosciences' overall efficiency and cash flow management in terms of receivables and payables. Further information on these ratios would be necessary to provide a more robust analysis of the company's activity ratios.
Long-term
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Fixed asset turnover | — | — | 11.99 | 21.87 | 43.38 |
| Total asset turnover | 0.40 | 0.39 | 0.32 | 0.28 | 0.42 |
Cytek Biosciences Inc's fixed asset turnover ratio, which measures how efficiently the company generates sales from its fixed assets, has exhibited a declining trend over the years. In 2020, the ratio was 43.38, indicating that the company generated $43.38 in sales for every $1 invested in fixed assets. However, this ratio decreased to 21.87 in 2021 and further dropped to 11.99 in 2022. The absence of data for 2023 and 2024 suggests potential issues with the company's fixed asset utilization during those years.
On the other hand, Cytek Biosciences Inc's total asset turnover ratio, which assesses the company's ability to generate sales from all its assets, shows a fluctuating pattern. The ratio was 0.42 in 2020, indicating that the company generated $0.42 in sales for every $1 of total assets. This ratio then decreased to 0.28 in 2021 but slightly improved to 0.32 in 2022. In 2023 and 2024, the total asset turnover ratio increased to 0.39 and 0.40, respectively, reflecting a potential enhancement in the company's overall asset utilization efficiency.
Overall, the analysis of these long-term activity ratios suggests that Cytek Biosciences Inc experienced some variability in its asset turnover performance over the years. The declining trend in fixed asset turnover and the fluctuating pattern in total asset turnover may indicate changes in the company's operational efficiency and asset utilization strategies, which could impact its overall financial performance and profitability.