Stock Analysis on Net
Stock Analysis on Net

Cytokinetics Inc. (NASDAQ:CYTK)

This company has been moved to the archive! The financial data has not been updated since November 3, 2023.

Analysis of Investments

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Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

Cytokinetics Inc., adjustment to net loss

US$ in thousands

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12 months ended: Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net loss (as reported) (388,955) (215,314) (127,290) (121,692) (106,289)
Add: Unrealized gain (loss) on available-for-sale securities, net (2,721) (1,018) (530) 179 157
Net loss (adjusted) (391,676) (216,332) (127,820) (121,513) (106,132)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

Cytokinetics Inc., adjusted profitability ratios

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net Profit Margin
Reported net profit margin -411.21% -305.72% -228.00% -452.93% -337.41%
Adjusted net profit margin -414.09% -307.17% -228.95% -452.26% -336.92%
Return on Equity (ROE)
Reported ROE — -88.29% -112.27% — -409.84%
Adjusted ROE — -88.71% -112.73% — -409.24%
Return on Assets (ROA)
Reported ROA -38.33% -25.59% -23.85% -41.99% -50.33%
Adjusted ROA -38.60% -25.71% -23.95% -41.93% -50.26%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Cytokinetics Inc. adjusted net profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Cytokinetics Inc. adjusted ROA deteriorated from 2020 to 2021 and from 2021 to 2022.

Cytokinetics Inc., Profitability Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net loss (388,955) (215,314) (127,290) (121,692) (106,289)
Revenues 94,588 70,428 55,828 26,868 31,501
Profitability Ratio
Net profit margin1 -411.21% -305.72% -228.00% -452.93% -337.41%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net loss (391,676) (216,332) (127,820) (121,513) (106,132)
Revenues 94,588 70,428 55,828 26,868 31,501
Profitability Ratio
Adjusted net profit margin2 -414.09% -307.17% -228.95% -452.26% -336.92%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

1 Net profit margin = 100 × Net loss ÷ Revenues
= 100 × -388,955 ÷ 94,588 = -411.21%

2 Adjusted net profit margin = 100 × Adjusted net loss ÷ Revenues
= 100 × -391,676 ÷ 94,588 = -414.09%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Cytokinetics Inc. adjusted net profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

Adjusted Return on Equity (ROE)

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net loss (388,955) (215,314) (127,290) (121,692) (106,289)
Stockholders’ equity (deficit) (107,900) 243,863 113,383 (10,937) 25,934
Profitability Ratio
ROE1 — -88.29% -112.27% — -409.84%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net loss (391,676) (216,332) (127,820) (121,513) (106,132)
Stockholders’ equity (deficit) (107,900) 243,863 113,383 (10,937) 25,934
Profitability Ratio
Adjusted ROE2 — -88.71% -112.73% — -409.24%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

1 ROE = 100 × Net loss ÷ Stockholders’ equity (deficit)
= 100 × -388,955 ÷ -107,900 = —

2 Adjusted ROE = 100 × Adjusted net loss ÷ Stockholders’ equity (deficit)
= 100 × -391,676 ÷ -107,900 = —

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net loss (388,955) (215,314) (127,290) (121,692) (106,289)
Total assets 1,014,775 841,319 533,803 289,814 211,178
Profitability Ratio
ROA1 -38.33% -25.59% -23.85% -41.99% -50.33%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net loss (391,676) (216,332) (127,820) (121,513) (106,132)
Total assets 1,014,775 841,319 533,803 289,814 211,178
Profitability Ratio
Adjusted ROA2 -38.60% -25.71% -23.95% -41.93% -50.26%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

1 ROA = 100 × Net loss ÷ Total assets
= 100 × -388,955 ÷ 1,014,775 = -38.33%

2 Adjusted ROA = 100 × Adjusted net loss ÷ Total assets
= 100 × -391,676 ÷ 1,014,775 = -38.60%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Cytokinetics Inc. adjusted ROA deteriorated from 2020 to 2021 and from 2021 to 2022.