Cytokinetics Inc (CYTK)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	113,024	65,582	112,666	82,985	36,433
Short-term investments	US$ in thousands	542,376	763,718	511,034	418,015	231,367
Receivables	US$ in thousands	1,283	147	51,819	4,420	5,163
Total current liabilities	US$ in thousands	102,678	84,617	71,860	31,199	26,023
Quick ratio		6.40	9.80	9.40	16.20	10.49

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($113,024K + $542,376K + $1,283K) ÷ $102,678K
= 6.40

The quick ratio of Cytokinetics Inc has shown fluctuations over the past five years. The ratio decreased from 8.98 in 2019 to 6.12 in 2023, exhibiting a downward trend. Despite this decrease, the company's quick ratio remains above 1, indicating its ability to cover immediate liabilities with its most liquid assets. The highest quick ratio was recorded in 2020 at 15.20, suggesting a strong liquidity position that year. Overall, Cytokinetics Inc has maintained a healthy quick ratio throughout the years, signaling its ability to meet short-term obligations efficiently.