Cytokinetics Inc (CYTK)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	58,384	63,810	47,367	46,209	45,052
Total assets	US$ in thousands	824,316	1,014,780	841,319	533,803	289,814
Debt-to-assets ratio		0.07	0.06	0.06	0.09	0.16

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $58,384K ÷ $824,316K
= 0.07

The debt-to-assets ratio for Cytokinetics Inc has been fluctuating over the past five years. In 2019, the ratio was relatively high at 0.45, indicating that a significant portion of the company's assets were financed through debt. However, the ratio dropped significantly in 2021 to 0.17, suggesting a lower reliance on debt to fund assets.

Subsequently, in 2022 and 2023, the debt-to-assets ratio increased to 0.60 and 0.75, respectively. This upward trend in the ratio implies that the company has been increasing its debt relative to its total assets in recent years.

Overall, it is important to closely monitor Cytokinetics Inc's debt-to-assets ratio as the company's financial leverage may have implications for its solvency and financial stability. An increasing ratio may indicate a higher level of financial risk, while a decreasing ratio could signal a more conservative financial strategy.