Cytek Biosciences Inc (CTKB)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Total current assets | US$ in thousands | 392,060 | 454,020 | 431,733 |
| Total current liabilities | US$ in thousands | 56,226 | 49,040 | 33,181 |
| Current ratio | 6.97 | 9.26 | 13.01 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $392,060K ÷ $56,226K
= 6.97
The current ratio of Cytek Biosciences Inc has shown a declining trend over the past three years, decreasing from 13.01 in 2021 to 9.26 in 2022, and further dropping to 6.97 in 2023. While a current ratio above 1 indicates that the company has more current assets than current liabilities to meet its short-term obligations, the decreasing trend may raise concerns regarding the company's liquidity position. A current ratio of 6.97 in 2023 suggests that Cytek Biosciences Inc may have relatively fewer current assets available to cover its current liabilities compared to the previous years. It would be advisable for stakeholders to further investigate the reasons behind the declining current ratio and assess the company's ability to manage its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023