Cytokinetics Inc (CYTK)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	-496,205	-495,817	-481,993	-370,818	-324,202	-218,876	-179,636	-223,559	-186,313	-201,016	-126,631	-104,192	-93,943	-81,242	-110,353	-104,711	-98,867	-96,619	-90,606	-87,303
Total assets	US$ in thousands	824,316	740,614	779,899	889,815	1,014,780	1,075,960	771,717	856,253	841,319	827,539	564,302	577,062	533,803	474,112	232,495	256,582	289,814	187,393	198,218	198,611
Operating ROA		-60.20%	-66.95%	-61.80%	-41.67%	-31.95%	-20.34%	-23.28%	-26.11%	-22.15%	-24.29%	-22.44%	-18.06%	-17.60%	-17.14%	-47.46%	-40.81%	-34.11%	-51.56%	-45.71%	-43.96%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $-496,205K ÷ $824,316K
= -60.20%

The operating return on assets (operating ROA) of Cytokinetics Inc has been fluctuating over the past eight quarters, with values ranging from -66.95% to -20.34%. The trend shows a general deterioration in performance, with the lowest point recorded in Q3 2023 at -66.95%. This indicates that the company is generating negative returns on its assets from its core operations, which may be a concerning sign for investors and stakeholders. Further analysis of the company's operational efficiency and profitability drivers may be warranted to address the declining trend in operating ROA.