Cytokinetics Inc (CYTK)

Payables 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
Cost of revenue (ttm)	US$ in thousands	173,612	183,467	191,578	194,572	177,977	160,614	138,594	117,075	99,603	76,905	63,005	55,969	52,820	49,496	46,947	42,622	39,610	36,584	33,995	32,205
Payables	US$ in thousands	21,507	13,796	12,561	17,357	25,611	14,429	14,078	19,836	21,087	16,222	14,928	7,766	8,050	6,738	2,920	3,527	8,160	3,412	5,194	2,547
Payables turnover		8.07	13.30	15.25	11.21	6.95	11.13	9.84	5.90	4.72	4.74	4.22	7.21	6.56	7.35	16.08	12.08	4.85	10.72	6.55	12.64

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $173,612K ÷ $21,507K
= 8.07

Based on the data provided, Cytokinetics Inc has consistently reported a payables turnover ratio of 0.00 for the past eight quarters. The payables turnover ratio measures how efficiently a company is managing its accounts payable by showing how many times a company pays off its suppliers during a period. A payables turnover ratio of 0.00 indicates that the company is not paying off its suppliers at all during the periods analyzed.

A consistent payables turnover ratio of 0.00 may suggest that Cytokinetics Inc is either experiencing cash flow constraints, negotiating extended payment terms with suppliers, or possibly intentionally delaying payments to manage working capital. It is essential for stakeholders to further investigate the reasons behind this consistently low ratio to understand the company's payment practices and their impact on cash flow and supplier relationships.