Cytokinetics Inc (NASDAQ: CYTK)

Sector: Healthcare Industry: Biotechnology CIK: 0001061983
P/B -14.53
P/E -10.07
P/S 86.84
Market Cap 7.57 Bn
ROIC (Qtr) -98.35
Div Yield % 0.00
Rev 1y % (Qtr) 318.14
Total Debt (Qtr) 1.20 Bn
Debt/Equity (Qtr) -2.30

About

Stock Price Chart

Analysis

Pros

  • Healthy cash reserves of 225.47M provide 5.94x coverage of short-term debt 37.93M, demonstrating strong liquidity position and minimal refinancing risk.
  • Tangible assets of 1.44B provide exceptional 891.16x coverage of deferred revenue 1.61M, showing strong service capability backing.
  • Short-term investments of 737.07M provide solid 8.97x coverage of other current liabilities 82.13M, indicating strong liquidity.
  • Cash reserves of 225.47M provide robust 1.59x coverage of current liabilities 142.14M, indicating strong short-term solvency.
  • R&D investment of 405.26M represents healthy 251.40x of deferred revenue 1.61M, indicating strong future innovation pipeline.

Cons

  • Operating cash flow of (432.93M) barely covers its investment activities of 198.72M, with a coverage ratio of -2.18, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of 198.72M provide weak support for R&D spending of 405.26M, which is 0.49x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (432.93M) provides insufficient coverage of deferred revenue obligations of 1.61M, which is -268.57x, raising concerns about future service delivery capabilities.
  • Short-term investments of 737.07M significantly exceed cash reserves of 225.47M, which is 3.27x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.
  • The company's operating cash flow of (432.93M) shows concerning coverage of stock compensation expenses of 108.03M, with a -4.01 ratio indicating potential earnings quality issues.

Peer Comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,349.40 Bn -1,464.17 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 437.43 Bn 6,381.20 87.97 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 116.09 Bn 31.59 9.90 1.83 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 78.10 Bn 17.06 5.48 2.71 Bn
5 ALNY Alnylam Pharmaceuticals, Inc. 55.87 Bn 1,282.42 17.40 3.21 Bn
6 ARGX Argenx Se 52.85 Bn 35.08 27,559.65 -
7 BNTC Benitec Biopharma Inc. 41.75 Bn -998.33 0.00 0.00 Bn
8 INSM INSMED Inc 37.80 Bn -31.93 84.56 0.74 Bn

Industry Comparisons

Current Valuation

Metric Value Industry Percentile
EV to Assets 5.82 12.31
EV to Cash from Ops. -19.30 23.25
EV to Debt 6.98 738.44
EV to EBIT -11.74 -9.16
EV to EBITDA -14.84 6.95
EV to Free Cash Flow [EV/FCF] -18.43 21.90
EV to Market Cap 1.10 65.67
EV to Revenue 95.82 227.32
Price to Book Value [P/B] -14.53 22.34
Price to Earnings [P/E] -10.07 -11.77

Dividend Metrics

Metric Value Industry Percentile
Dividend Coverage Ratio 0.00 -11.94
Dividend Payout Ratio % 0.00 0.16
Dividend per Basic Share 0.00 0.01
FCF Dividend Payout Ratio % 0.00 -0.14
Interest Coverage -17.69 841.00

Growth Metrics

Metric Value Industry Percentile
Capex Growth (1y) % -659.49 -27.13
Cash and Equivalents Growth (1y) % 380.86 734.65
Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % -31.68 -46.93
EBITDA Growth (1y) % -10.20 -1.68
EBIT Growth (1y) % -31.68 -56.45
EBT Growth (1y) % -30.45 -12.70
EPS Growth (1y) % -16.91 -28.31
FCF Growth (1y) % -11.38 -31.90
Gross Profit Growth (1y) % 2,609.26 226.84

Liquidity Ratios

Metric Value Industry Percentile
Asset Utilization Ratio 0.06 0.14
Cash Payout Ratio 0.00 0.00
Cash Ratio 1.59 3.85
Current Ratio 6.88 7.27
Debt to Equity Ratio -2.30 0.40
Interest Cover Ratio -17.69 841.00
Times Interest Earned -17.69 841.00

Profitability

Metric Value Industry Percentile
EBITDA Margin % -805.00 -18,234.31
EBIT Margin % -816.07 -18,580.80
EBT Margin % -862.21 -19,488.74
Gross Margin % 100.00 -7.59
Net Profit Margin % -862.20 -19,439.22