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.