Cytek Biosciences Inc (CTKB)

Working capital turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenue US$ in thousands 200,453 193,015 164,036 127,950 92,839
Total current assets US$ in thousands 396,446 392,060 454,020 432,052 208,622
Total current liabilities US$ in thousands 67,663 56,226 49,040 32,160 26,536
Working capital turnover 0.61 0.57 0.41 0.32 0.51

December 31, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $200,453K ÷ ($396,446K – $67,663K)
= 0.61

The working capital turnover of Cytek Biosciences Inc has exhibited fluctuations over the past five years. The ratio has decreased from 0.51 in December 31, 2020, to 0.32 in December 31, 2021, implying a decline in the efficiency of utilizing working capital to generate revenue during that period. However, there was a slight improvement in the ratio to 0.41 in December 31, 2022. Subsequently, significant progress was observed in December 31, 2023, with a working capital turnover of 0.57, indicating enhanced efficiency in managing working capital.

The most recent data point, December 31, 2024, reveals a further increase in the working capital turnover to 0.61, suggesting that Cytek Biosciences Inc has been able to improve its working capital management and generate more revenue relative to the level of investment in working capital. Overall, the trend in working capital turnover shows some variability but a positive momentum in recent years, indicating potential improvements in the company's operational efficiency and financial performance.