Cytokinetics Inc (CYTK)

Quick ratio

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 US$ in thousands 113,024 99,692 68,639 101,616 65,582 106,238 93,631 115,422 112,666 90,562 37,154 44,594 82,985 200,812 61,134 49,776 36,433 39,634 34,361 39,409
Short-term investments US$ in thousands 542,376 455,008 523,961 602,784 763,718 761,426 492,395 493,552 511,034 387,074 313,147 380,983 418,015 211,352 153,229 171,530 231,367 127,105 139,207 137,913
Receivables US$ in thousands 1,283 2,499 985 1,006 147 2,294 1,973 6,056 51,819 644 2,701 4,514 4,420 4,965 2,254 2,704 5,163 6,576 8,993 4,165
Total current liabilities US$ in thousands 102,678 77,723 65,617 75,220 84,617 76,496 66,843 66,847 71,860 80,868 61,766 35,930 31,199 27,573 22,696 20,741 26,023 21,517 21,959 26,277
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

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 a declining trend over the past eight quarters, from 11.56 in Q3 2022 to 9.33 in Q1 2022. However, there was a slight increase in Q2 2023 to 8.94 before rising further to 9.05 in Q1 2023. The quick ratio then increased to 7.22 in Q3 2023 and further to 6.12 in Q4 2023.

The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its short-term liabilities. Although Cytokinetics Inc's quick ratio has been fluctuating, it has remained consistently above 1 in the past eight quarters, suggesting that the company has a strong ability to meet its short-term obligations.

The declining trend in the quick ratio may indicate decreasing liquidity or increasing short-term liabilities relative to liquid assets. Further analysis is needed to understand the underlying reasons for these fluctuations and whether they warrant any concern regarding the company's short-term financial health.


Peer comparison

Dec 31, 2023


See also:

Cytokinetics Inc Quick Ratio (Quarterly Data)