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