Cytek Biosciences Inc (CTKB)

Working capital turnover

		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
Revenue (ttm)	US$ in thousands	176,629	201,210	197,710	200,786	193,014	183,117	175,594	166,060	164,036	154,594	148,493	138,742	127,950	119,675	110,395	99,123	92,839
Total current assets	US$ in thousands	396,446	390,191	384,084	388,647	392,060	422,315	424,821	425,622	454,020	443,859	443,270	439,112	432,052	439,826	216,938	212,537	208,622
Total current liabilities	US$ in thousands	67,663	62,797	52,379	55,566	56,226	58,693	53,591	56,517	49,040	41,494	42,350	42,803	32,160	29,839	28,165	27,764	26,536
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

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $176,629K ÷ ($396,446K – $67,663K)
= 0.54

Working capital turnover is a financial ratio that measures how efficiently a company utilizes its working capital to generate sales revenue. It indicates the number of times the company's working capital is being turned over in a given period. A higher turnover ratio suggests better efficiency in managing working capital.

Analyzing the working capital turnover of Cytek Biosciences Inc based on the provided data reveals the following trend:

- The working capital turnover ratio has generally shown an improving trend over the analyzed period, starting at 0.51 on December 31, 2020, and reaching a peak of 0.61 on September 30, 2024.
- From 2020 to 2021, the ratio increased gradually from 0.51 to 0.32, indicating a slowdown in the efficiency of working capital utilization.
- However, from 2021 to 2024, there was a consistent improvement in the ratio, with values consistently increasing over time, demonstrating enhanced efficiency in managing working capital during this period.
- The ratio remained relatively stable around the range of 0.45 to 0.61 from March 31, 2023, to December 31, 2024, reflecting a sustained improvement in utilizing working capital efficiently.

Overall, the increasing trend in working capital turnover ratio for Cytek Biosciences Inc suggests that the company has been utilizing its working capital more effectively over the analyzed period, which can be indicative of improved operational efficiency and better financial performance.