Cytek Biosciences Inc (CTKB)

Return on assets (ROA)

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Net income US$ in thousands -12,148 2,484 3,027
Total assets US$ in thousands 494,457 519,476 463,305
ROA -2.46% 0.48% 0.65%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $-12,148K ÷ $494,457K
= -2.46%

Cytek Biosciences Inc's return on assets (ROA) has declined significantly over the past three years. In 2021, the ROA was 0.65%, indicating that the company generated $0.0065 in profit for every $1 of assets. However, this performance deteriorated in 2022, with the ROA dropping to 0.48%. By the end of 2023, the ROA further decreased to -2.46%, reflecting a negative return on assets. This suggests that the company's ability to generate profits from its assets has weakened, potentially indicating operational inefficiencies or financial challenges that need to be addressed.