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.
Peer comparison
Dec 31, 2024