Cytokinetics Inc (CYTK)

Activity ratios

Short-term

Turnover ratios

	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
Inventory turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables turnover	5.87	3.13	10.10	94.68	624.36	61.55	70.94	9.35	1.12	14.57	16.96	10.32	10.82	9.59	6.48	6.20	3.92	3.55	3.26	7.14
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
Working capital turnover	0.01	0.02	0.02	0.16	0.13	0.17	0.26	0.10	0.13	0.02	0.15	0.12	0.11	0.12	0.07	0.08	0.10	0.15	0.18	0.19

Inventory turnover data is not available for Cytokinetics Inc as indicated by the dashes in the table.

The receivables turnover ratio for Cytokinetics Inc fluctuated significantly over the quarters, ranging from as low as 3.13 to as high as 643.46 times. This indicates that the company is able to efficiently collect payments from customers, with higher ratios suggesting a quicker turnover of accounts receivable. However, such wide fluctuations may also indicate inconsistencies or unusual one-time events in sales or collections processes.

The payables turnover ratio for Cytokinetics Inc is consistently at 0.00 across all quarters, indicating that the company is not making payments to suppliers during these periods. This may be due to specific payment terms or seasonal variations in payment cycles.

The working capital turnover ratio for Cytokinetics Inc also varies over the quarters, but generally remains low, ranging from 0.01 to 0.28 times. A lower turnover ratio implies that the company is not efficiently utilizing its working capital to generate sales revenue. This could indicate inefficiencies in managing working capital resources or possibly a need for better liquidity management strategies.

Overall, while the receivables turnover ratios suggest efficient collections, the absence of inventory and payables turnover ratios, along with relatively low working capital turnover ratios, could indicate areas of improvement in managing inventory levels, payment cycles to suppliers, and using working capital effectively to drive sales.

Average number of days

		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
Days of inventory on hand (DOH)	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Days of sales outstanding (DSO)	days	62.19	116.72	36.13	3.86	0.58	5.93	5.15	39.02	325.76	25.05	21.52	35.38	33.73	38.06	56.32	58.83	93.08	102.82	112.12	51.13
Number of days of payables	days	45.22	27.45	23.93	32.56	52.52	32.79	37.08	61.84	77.27	76.99	86.48	50.65	55.63	49.69	22.70	30.20	75.19	34.04	55.77	28.87

Based on the provided data, we can analyze the activity ratios of Cytokinetics Inc as follows:

1. Days of Inventory on Hand (DOH): Unfortunately, specific data for Days of Inventory on Hand is not available in the table for any of the quarters across 2022 and 2023. DOH is a measure of how many days a company takes to convert its inventory into sales. Without this information, it is not possible to evaluate Cytokinetics Inc's efficiency in managing its inventory.

2. Days of Sales Outstanding (DSO): Across the quarters of 2022 and 2023, there is variability in the Days of Sales Outstanding (DSO) for Cytokinetics Inc. The DSO represents the average number of days it takes for a company to collect payments after making a sale. In Q4 2023, the DSO was 62.19 days, which indicates an increase from the previous quarter's 116.72 days. The sharp decrease in DSO from Q3 2022 to Q4 2022 (0.57 days to 5.65 days) suggests more efficient collections processes in the last quarter of 2022.

3. Number of Days of Payables: Similar to the Days of Inventory on Hand, data for the Number of Days of Payables is not provided for any quarter in the table. The Number of Days of Payables measures how long a company takes to pay its suppliers. Without this information, we cannot evaluate Cytokinetics Inc's payment practices.

In summary, while the Days of Sales Outstanding shows fluctuations in Cytokinetics Inc's collection efficiency, a comprehensive analysis of all activity ratios - including Days of Inventory on Hand and Number of Days of Payables - would provide a more complete picture of the company's overall liquidity and operational efficiency.

Long-term

	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
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
Total asset turnover	0.01	0.01	0.01	0.11	0.09	0.13	0.18	0.07	0.07	0.01	0.08	0.08	0.09	0.10	0.06	0.07	0.07	0.12	0.15	0.15

Cytokinetics Inc's fixed asset turnover ratio has been fluctuating over the past eight quarters, ranging from 0.10 to 1.92. The ratio indicates the company's ability to generate sales revenue relative to its investment in fixed assets. A low fixed asset turnover ratio suggests that the company may not be efficiently utilizing its fixed assets to generate sales. In contrast, a high ratio indicates that Cytokinetics is generating more sales relative to its investment in fixed assets.

On the other hand, the total asset turnover ratio has also been consistently low, ranging from 0.01 to 0.20 over the same period. This ratio reflects the company's ability to generate sales relative to its total assets. A low total asset turnover ratio may indicate that the company is not effectively utilizing its total assets to generate revenue.

Overall, Cytokinetics Inc's long-term activity ratios show that the company may be facing challenges in efficiently utilizing both its fixed assets and total assets to generate sales revenue. Management may need to assess and potentially optimize its asset utilization strategies to improve these ratios over time.