Cytek Biosciences Inc (CTKB)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
| Financial leverage ratio | 1.26 | 1.27 | 1.24 | 1.25 | 1.27 | 1.25 | 1.24 | 1.24 | 1.22 | 1.20 | 1.20 | 1.19 | 1.14 | 1.13 | — | — | — |
Cytek Biosciences Inc has consistently maintained a strong solvency position as evidenced by its low debt-to-assets ratio of 0.00% across all reporting periods. This indicates that the company has minimal debt relative to its total assets, which is a positive sign for creditors and investors.
The debt-to-capital and debt-to-equity ratios were not available for the year-end 2020, 2021, and 2022 periods. However, from September 30, 2021, onwards, both ratios have remained at 0.00%, indicating that Cytek Biosciences relies less on debt financing compared to its capital and equity. This implies that the company funds its operations and investments more through equity and internal resources rather than taking on debt.
The financial leverage ratio, which measures the extent of a company's financial leverage, has been gradually increasing from 1.13 as of September 30, 2021, to 1.26 by December 31, 2024. Although the ratio has been on the rise, it still remains at a moderate level, signaling that Cytek Biosciences has a reasonable amount of financial leverage to support its operations and growth.
Overall, based on the solvency ratios analyzed, Cytek Biosciences Inc appears to have a stable financial structure with low reliance on debt and a manageable level of leverage, indicating a healthy solvency position.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | -14.79 | -14.22 | -12.36 | -10.04 | -8.83 | -5.64 | -3.00 | -0.69 | 1.49 | 0.24 | 0.27 | 2.58 | 4.76 | 9.26 | 16.67 | 21.89 | 34.15 |
Interest coverage ratio measures a company's ability to cover its interest expenses with its operating income. A higher interest coverage ratio indicates a company is more capable of meeting its interest obligations.
Based on the provided data from Cytek Biosciences Inc:
- The interest coverage ratio has been consistently high, exceeding 10 at the end of 2020.
- However, the interest coverage ratio began declining from March 2021 onwards, indicating a potential deterioration in the company's ability to cover its interest expenses.
- By December 2021, the interest coverage ratio had dropped to 4.76, suggesting a reduction in the company's ability to meet its interest payments.
- The trend continued to worsen throughout the following periods, with the interest coverage ratio falling below 1 by June 2022, signaling a significant strain on the company's ability to cover its interest expenses.
- The interest coverage ratio remained negative from March 2023 onwards, indicating that Cytek Biosciences Inc was unable to cover its interest obligations with its operating income.
- The consistently negative interest coverage ratios from March 2023 to December 2024 suggest a serious financial risk, as the company's operating income was insufficient to meet its interest expenses.
In summary, based on the trend shown in the interest coverage ratio data, Cytek Biosciences Inc faced increasing challenges in meeting its interest obligations, ultimately resulting in a prolonged period of negative interest coverage ratios, highlighting potential financial distress and the need for significant corrective actions to improve the company's financial health.