Cytokinetics Inc (CYTK)

Fixed asset turnover

		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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	7,530	7,815	9,952	95,246	91,781	141,206	139,967	56,649	58,061	9,383	45,819	46,569	47,834	47,611	14,609	16,776	20,245	23,344	29,275	29,730
Property, plant and equipment	US$ in thousands	68,748	75,614	77,248	78,859	80,453	80,302	78,586	75,740	73,271	53,896	36,942	23,198	13,346	7,667	5,611	5,162	4,530	3,615	2,945	3,175
Fixed asset turnover		0.11	0.10	0.13	1.21	1.14	1.76	1.78	0.75	0.79	0.17	1.24	2.01	3.58	6.21	2.60	3.25	4.47	6.46	9.94	9.36

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $7,530K ÷ $68,748K
= 0.11

The fixed asset turnover ratio measures how efficiently a company is utilizing its fixed assets to generate revenue. A higher ratio indicates that the company is generating more revenue per dollar of fixed assets.

Analyzing the fixed asset turnover of Cytokinetics Inc based on the provided data, we observe fluctuations in the ratio over the quarters. In Q1 2023, the fixed asset turnover was significantly higher at 1.24, indicating efficient utilization of fixed assets to generate revenue. This was followed by a noticeable decrease in Q2 2023 to 0.13, suggesting a decline in the efficiency of asset utilization.

The ratio improved in Q3 2023 to 0.10 but dropped again in Q4 2023 to 0.11. Comparing year-over-year performance, the fixed asset turnover has generally decreased from Q4 2022 to Q4 2023, indicating potentially less efficient utilization of fixed assets compared to the previous year.

Overall, the fluctuations in the fixed asset turnover ratio for Cytokinetics Inc suggest varying levels of efficiency in utilizing fixed assets to generate revenue over the quarters. Further analysis and investigation into the factors affecting these fluctuations may provide insights into the company's operational efficiency and future performance.