Cytek Biosciences Inc (CTKB)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |
|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 1.37 | 1.16 | 1.07 | 0.92 | 1.31 | 1.21 | 1.31 | 1.43 |
| Receivables turnover | 3.45 | 3.31 | 3.54 | 3.85 | 3.36 | 3.91 | 4.05 | 4.58 |
| Payables turnover | 27.57 | 16.42 | 22.76 | 12.16 | 13.12 | 10.61 | 8.79 | 9.11 |
| Working capital turnover | 0.57 | 0.50 | 0.47 | 0.45 | 0.41 | 0.39 | 0.37 | 0.35 |
Inventory turnover measures how efficiently a company manages its inventory. Cytek Biosciences Inc has shown a fluctuating trend in inventory turnover over the past eight quarters, with a generally declining trend until the most recent quarter where it increased slightly. The company's inventory turnover ranged from 0.92 to 1.43, with a current value of 1.37 as of December 31, 2023.
Receivables turnover indicates how quickly a company collects its receivables from customers. Cytek Biosciences Inc has demonstrated a relatively stable receivables turnover over the same period, fluctuating between 3.31 and 4.58. The most recent reading as of December 31, 2023, is 3.45.
Payables turnover highlights how efficiently a company manages its payments to suppliers. Cytek Biosciences Inc has shown significant fluctuations in payables turnover, with values ranging from 8.79 to 27.57. The payables turnover for December 31, 2023, stands at 27.57, indicating a notable increase.
Working capital turnover reflects how effectively a company utilizes its working capital to generate revenue. Cytek Biosciences Inc has displayed a consistent upward trend in working capital turnover, indicating improvements in utilizing working capital efficiently to generate sales. The company's working capital turnover has increased from 0.35 in March 2022 to 0.57 in December 2023.
Overall, Cytek Biosciences Inc's activity ratios suggest mixed efficiency in managing inventory, collecting receivables, and handling payables. However, the upward trend in working capital turnover indicates improved efficiency in utilizing resources to drive sales growth.
Average number of days
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 265.83 | 315.51 | 341.97 | 394.99 | 278.71 | 301.08 | 278.95 | 254.85 |
| Days of sales outstanding (DSO) | days | 105.76 | 110.43 | 103.15 | 94.73 | 108.73 | 93.28 | 90.18 | 79.71 |
| Number of days of payables | days | 13.24 | 22.23 | 16.03 | 30.01 | 27.81 | 34.40 | 41.52 | 40.06 |
Cytek Biosciences Inc's activity ratios reflect the efficiency of its operations in managing inventory, accounts receivable, and accounts payable.
1. Days of Inventory on Hand (DOH) measures how many days it takes for the company to sell its inventory. The trend shows an increasing pattern, indicating a potential issue with inventory management. The company is taking longer to turn its inventory into sales, which could tie up working capital and increase holding costs.
2. Days of Sales Outstanding (DSO) measures how long it takes for the company to collect payments from its customers. The trend is fluctuating but generally shows an increase in the days outstanding. This suggests that the company is taking longer to collect payments, which could impact its cash flow and liquidity.
3. Number of Days of Payables measures how long it takes for the company to pay its suppliers. The trend shows fluctuations with periods of decreases and increases. A lower number of days indicates that the company is paying its suppliers more quickly, potentially straining its cash flow. Conversely, a higher number of days indicates that the company is taking longer to pay its suppliers, which could lead to strained relationships.
Overall, Cytek Biosciences Inc should focus on improving its inventory management, reducing days of sales outstanding, and maintaining a balanced approach to managing its payables to enhance efficiency and financial performance.
Long-term
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |
|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 10.49 | 10.51 | 11.26 | 10.68 | 11.99 | 19.77 | 20.30 | 21.41 |
| Total asset turnover | 0.39 | 0.35 | 0.33 | 0.32 | 0.32 | 0.31 | 0.30 | 0.29 |
The fixed asset turnover ratio for Cytek Biosciences Inc has shown a decreasing trend from March 2022 to December 2023, indicating that the company is generating less revenue relative to its investment in fixed assets over time. However, it is important to note that the ratio remains relatively high, suggesting that the company is still efficient in utilizing its fixed assets to generate sales.
On the other hand, the total asset turnover ratio has also been trending downwards during the same period. This indicates that Cytek Biosciences Inc is generating less sales revenue relative to its total assets. A lower total asset turnover ratio could imply that the company may not be effectively utilizing all of its assets to generate revenue.
Overall, both ratios suggest that Cytek Biosciences Inc may be experiencing challenges in optimizing its asset utilization to generate sales. The company may need to assess its operational efficiency and identify areas for improvement to enhance its long-term financial performance.