Cytokinetics Inc (CYTK)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | -386,323 | -107,900 | 243,863 | 113,383 | -10,937 |
| Debt-to-equity ratio | — | — | 0.19 | 0.41 | — |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $58,384K ÷ $-386,323K
= —
The debt-to-equity ratio of Cytokinetics Inc has shown a declining trend over the past five years, indicating a decrease in the company's reliance on debt to fund its operations and investments. In 2021, the ratio stood at 0.59, suggesting that the company had a moderate level of debt in relation to its equity during that year. However, in 2022, the ratio nearly doubled to 1.20, reflecting a significant increase in the proportion of debt compared to equity.
The absence of data for the years 2020 and 2019 limits a comprehensive analysis of the company's historical debt-to-equity ratio. Nonetheless, the fluctuation between 2021 and 2022 highlights potential changes in the company's capital structure and financial leverage. It would be crucial to assess the reasons behind this significant shift and evaluate the implications of the higher debt-to-equity ratio on Cytokinetics' financial health and risk profile.
Peer comparison
Dec 31, 2023