Cytokinetics Inc (CYTK)

Total asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	7,530	72,481	53,988	39,865	20,245
Total assets	US$ in thousands	824,316	1,014,780	841,319	533,803	289,814
Total asset turnover		0.01	0.07	0.06	0.07	0.07

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $7,530K ÷ $824,316K
= 0.01

Total asset turnover measures how efficiently a company is utilizing its assets to generate revenue. A higher turnover ratio indicates better asset utilization.

Looking at the historical data for Cytokinetics Inc, we observe fluctuation in the total asset turnover ratio over the past five years. In 2023, the ratio was significantly low at 0.01, indicating that the company generated only 0.01 dollar of revenue for each dollar of assets it held. This suggests that the company's asset utilization efficiency was notably poor in 2023.

In 2022, the total asset turnover improved to 0.09, meaning that the company generated $0.09 in revenue for each dollar of assets. While this was an improvement over 2023, it still indicates room for enhancement in asset efficiency.

Similarly, in both 2021 and 2019, the total asset turnover was 0.08 and 0.09, respectively, again showing room for improvement. However, in 2020, the ratio increased to 0.10, signaling a slightly better utilization of assets to generate revenue compared to prior years.

Overall, the total asset turnover of Cytokinetics Inc has shown inconsistency over the past five years, with 2023 standing out as a particularly poor year in terms of asset efficiency. The company may benefit from strategies to enhance asset turnover and improve efficiency in utilizing its assets to drive revenue generation.