Cytokinetics Inc (CYTK)
Cash conversion cycle
| 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 |
| Cash conversion cycle | days | 16.97 | 89.27 | 12.19 | -28.71 | -51.94 | -26.86 | -31.93 | -22.82 | 248.49 | -51.94 | -64.96 | -15.27 | -21.90 | -11.63 | 33.61 | 28.63 | 17.89 | 68.78 | 56.36 | 22.27 |
December 31, 2023 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= — + 62.19 – 45.22
= 16.97
The cash conversion cycle of Cytokinetics Inc has shown some fluctuation over the past eight quarters. In Q4 2023, the company's cash conversion cycle stood at 62.19 days, which decreased significantly compared to Q3 2023's 116.72 days. This improvement suggests that the company is managing its cash flows more efficiently. Q2 2023 also saw a relatively low cash conversion cycle of 36.13 days, indicating a strong performance in converting investments in inventory into cash.
In contrast, Q3 2023 had a significantly higher cash conversion cycle, indicating a delay in converting inventory and accounts receivable into cash. Q1 2023 and Q4 2022 also showed low cash conversion cycles of 3.74 days and 0.57 days, respectively, suggesting efficient management of working capital during those periods.
Overall, Cytokinetics Inc has experienced variability in its cash conversion cycle, with some quarters showing efficient cash conversion while others indicating delays in the conversion process. It is essential for the company to continue monitoring and managing its working capital effectively to ensure consistent and optimal cash conversion cycles in the future.
Peer comparison
Dec 31, 2023