Cytokinetics Inc (CYTK)
Liquidity 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 6.12 | 7.22 | 8.94 | 9.05 | 9.40 | 11.56 | 9.01 | 9.33 | 7.45 | 6.12 | 5.90 | 12.05 | 15.20 | 15.17 | 9.65 | 10.89 | 8.98 | 8.20 | 8.42 | 7.09 |
| Quick ratio | 6.40 | 7.17 | 9.05 | 9.38 | 9.80 | 11.37 | 8.80 | 9.20 | 9.40 | 5.91 | 5.72 | 11.97 | 16.20 | 15.13 | 9.54 | 10.80 | 10.49 | 8.05 | 8.31 | 6.91 |
| Cash ratio | 6.38 | 7.14 | 9.03 | 9.36 | 9.80 | 11.34 | 8.77 | 9.11 | 8.68 | 5.91 | 5.67 | 11.84 | 16.06 | 14.95 | 9.44 | 10.67 | 10.29 | 7.75 | 7.90 | 6.75 |
Cytokinetics Inc has consistently maintained high liquidity levels based on its liquidity ratios over the past eight quarters. The current ratio, which measures the company's ability to meet its short-term obligations with its current assets, has been consistently above 6 in all quarters, with the highest value of 11.56 in Q3 2022. This indicates that Cytokinetics Inc has a strong ability to cover its short-term liabilities with current assets.
Similarly, the quick ratio, which provides a more stringent measure of liquidity by excluding inventory from current assets, has also been consistently high, ranging from 6.12 to 11.56 over the same period. This indicates that the company has a significant portion of highly liquid assets that can be quickly converted to cash to meet its short-term obligations.
The cash ratio, which is the most conservative liquidity ratio as it only considers cash and cash equivalents in relation to current liabilities, has also been impressive for Cytokinetics Inc. The company has maintained cash ratios above 6 in all quarters, with values reaching as high as 11.53 in Q3 2022. This signifies that the company has a substantial amount of cash on hand to cover its immediate liabilities.
Overall, based on the consistently high values of the current ratio, quick ratio, and cash ratio over the past eight quarters, Cytokinetics Inc appears to have strong liquidity levels and should be well-positioned to meet its short-term financial obligations.
See also:
Additional liquidity measure
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
The cash conversion cycle of Cytokinetics Inc has shown variation over the quarters analyzed. In Q4 2023, the company's cash conversion cycle was 62.19 days, indicating that it took approximately 62 days to convert its investments in inventory and other resources into cash. This was a significant improvement from the previous quarter (Q3 2023), where the cycle was 116.72 days, suggesting a quicker turnaround in converting investments into cash.
Looking further back, in Q2 2023, the company had a cash conversion cycle of 36.13 days, showing efficiency in managing its working capital. The most efficient performance was in Q1 2023, with a cash conversion cycle of only 3.74 days, indicating that Cytokinetics Inc was able to swiftly convert its resources into cash during that period.
Comparing these figures to the previous year, there were fluctuations in the cash conversion cycle. For example, in Q4 2022, the company had a very short cash conversion cycle of 0.57 days, indicating a very efficient cash management process. However, in Q1 2022, the cycle was 33.99 days, suggesting a slower conversion of resources into cash during that quarter.
Overall, Cytokinetics Inc has shown variability in its cash conversion cycle, with some quarters demonstrating efficient cash management and quick conversion of investments into cash, while others show a longer cycle which may indicate delays in collecting cash or managing working capital.