Cytek Biosciences Inc (CTKB)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 2.04 | 1.94 | 1.78 | 1.63 | 1.37 | 1.16 | 1.07 | 0.92 | 1.31 | 1.20 | 1.30 | 1.42 | 1.51 | 1.62 | 1.54 | 1.58 | 1.79 |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | 0.54 | 0.61 | 0.60 | 0.60 | 0.57 | 0.50 | 0.47 | 0.45 | 0.41 | 0.38 | 0.37 | 0.35 | 0.32 | 0.29 | 0.58 | 0.54 | 0.51 |
Cytek Biosciences Inc's inventory turnover ratio has been gradually decreasing over the last few years, indicating a declining efficiency in managing its inventory levels. The company's inventory turnover ratio decreased from 1.79 on December 31, 2020, to 2.04 on December 31, 2024. This may suggest that the company is struggling to sell its inventory quickly, potentially leading to higher carrying costs or obsolescence.
The receivables turnover and payables turnover ratios are not available, indicating that there is no data provided for analyzing how quickly the company is collecting receivables from customers or paying its suppliers.
Regarding the working capital turnover ratio, Cytek Biosciences Inc's performance has been relatively stable over the period under consideration. The ratio shows how efficiently the company is utilizing its working capital to generate sales. The company's working capital turnover ratio ranged from 0.29 on September 30, 2021, to 0.61 on September 30, 2024, demonstrating a consistent performance in utilizing its working capital effectively to support its operations and generate revenue.
Average number of days
| Dec 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 179.31 | 188.32 | 205.26 | 223.54 | 265.83 | 315.51 | 341.97 | 394.99 | 278.71 | 303.58 | 281.80 | 257.69 | 241.13 | 225.10 | 236.72 | 231.70 | 204.27 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Based on the provided data on Cytek Biosciences Inc's activity ratios, we can analyze the following key metrics:
1. Days of Inventory on Hand (DOH):
- The DOH for Cytek Biosciences Inc shows fluctuations over the period, ranging from a low of 179.31 days as of December 31, 2024, to a high of 394.99 days as of March 31, 2023.
- Generally, a higher DOH indicates that the company is holding excess inventory, which could tie up working capital and lead to carrying costs. Conversely, a lower DOH could imply efficient inventory management.
- Cytek Biosciences Inc should aim to strike a balance in managing its inventory levels to avoid stockouts while optimizing cash flow.
2. Days of Sales Outstanding (DSO):
- The data provided does not include information on the DSO metric for Cytek Biosciences Inc.
- DSO measures the average number of days it takes a company to collect revenue after a sale. A lower DSO indicates faster collection of receivables, which is a positive sign of efficient accounts receivable management.
3. Number of Days of Payables:
- Similar to DSO, the data does not provide any information on the number of days of payables for Cytek Biosciences Inc.
- Monitoring the number of days of payables is crucial as it reflects how long a company takes to pay its suppliers. Extending payment periods too long can strain supplier relationships, while shorter payment periods can impact cash flow.
In conclusion, while the information on DOH is available, the absence of data on DSO and the number of days of payables limits a comprehensive analysis of Cytek Biosciences Inc's activity ratios. The company should aim to optimize its inventory levels, improve accounts receivable collection efficiency, and manage payables effectively to enhance its overall working capital management.
Long-term
| Dec 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | — | — | — | — | — | — | 11.26 | 10.68 | 11.99 | 19.71 | 20.23 | 21.33 | 21.87 | 24.02 | 28.34 | 40.03 | — |
| Total asset turnover | 0.35 | 0.41 | 0.41 | 0.41 | 0.39 | 0.35 | 0.33 | 0.32 | 0.32 | 0.31 | 0.30 | 0.29 | 0.28 | 0.26 | 0.48 | 0.44 | 0.42 |
Fixed Asset Turnover Ratio:
The Fixed Asset Turnover ratio reflects Cytek Biosciences Inc's efficiency in generating sales revenue from its investment in fixed assets.
- The ratio has shown a declining trend over the years, starting at a high of 40.03 in March 2021 and decreasing to 11.99 by December 2022.
- After reaching its lowest point in December 2022, the ratio has slightly improved but remains relatively low.
- The gradual decline in the fixed asset turnover ratio indicates that the company is not utilizing its fixed assets efficiently to generate revenue.
Total Asset Turnover Ratio:
The Total Asset Turnover ratio measures the company's ability to generate revenue from all its assets.
- The ratio has shown slight fluctuations but overall an increasing trend from 0.42 in December 2020 to 0.35 in December 2024.
- The increase in the ratio suggests that Cytek Biosciences Inc has been more effective in using its assets to generate sales over the years.
- However, the ratio fluctuated in the range of 0.26 to 0.44 between September 2021 and March 2023, indicating some instability in asset utilization efficiency.
In conclusion, while the Total Asset Turnover ratio has shown improvement, the declining trend in the Fixed Asset Turnover ratio raises concerns about the company's efficiency in utilizing its fixed assets effectively for revenue generation. It would be advisable for Cytek Biosciences Inc to closely monitor and possibly revise its fixed asset utilization strategies to improve overall long-term performance.