Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Cytokinetics Inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Cytokinetics Inc. debt to capital ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Cytokinetics Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Cytokinetics Inc. debt to assets ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Cytokinetics Inc. debt to assets ratio (including operating lease liability) deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Cytokinetics Inc. interest coverage ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Cytokinetics Inc. fixed charge coverage ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Debt to Equity
Cytokinetics Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of term loan | —) | —) | —) | —) | 2,607) | |
| Short-term finance lease liabilities | 1,000) | 500) | —) | —) | —) | |
| Term loan, net, excluding current portion | 63,810) | 47,367) | 46,209) | 45,052) | 39,806) | |
| Convertible notes, net | 545,808) | 95,471) | 89,504) | 84,205) | —) | |
| Long-term finance lease liabilities | 1,001) | 805) | —) | —) | —) | |
| Total debt | 611,619) | 144,143) | 135,713) | 129,257) | 42,413) | |
| Stockholders’ equity (deficit) | (107,900) | 243,863) | 113,383) | (10,937) | 25,934) | |
| Solvency Ratio | ||||||
| Debt to equity1 | — | 0.59 | 1.20 | — | 1.64 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| AbbVie Inc. | 3.67 | 4.98 | 6.58 | — | — | |
| Amgen Inc. | 10.64 | 4.97 | 3.51 | 3.09 | — | |
| Bristol-Myers Squibb Co. | 1.27 | 1.24 | 1.34 | 0.91 | — | |
| Danaher Corp. | 0.39 | 0.49 | 0.53 | 0.72 | — | |
| Eli Lilly & Co. | 1.52 | 1.88 | 2.94 | 5.88 | — | |
| Gilead Sciences Inc. | 1.19 | 1.27 | 1.73 | 1.09 | — | |
| Johnson & Johnson | 0.52 | 0.46 | 0.56 | 0.47 | — | |
| Merck & Co. Inc. | 0.67 | 0.87 | 1.26 | 1.02 | — | |
| Pfizer Inc. | 0.37 | 0.50 | 0.63 | 0.83 | — | |
| Regeneron Pharmaceuticals Inc. | 0.12 | 0.14 | 0.24 | 0.06 | — | |
| Thermo Fisher Scientific Inc. | 0.78 | 0.85 | 0.63 | 0.60 | — | |
| Zoetis Inc. | 1.79 | 1.45 | 1.91 | 2.38 | — | |
| Debt to Equity, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.84 | 0.96 | 1.16 | 1.12 | — | |
| Debt to Equity, Industry | ||||||
| Health Care | 0.74 | 0.80 | 0.91 | 0.92 | — | |
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).
1 2022 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity (deficit)
= 611,619 ÷ -107,900 = —
2 Click competitor name to see calculations.
Debt to Equity (including Operating Lease Liability)
Cytokinetics Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of term loan | —) | —) | —) | —) | 2,607) | |
| Short-term finance lease liabilities | 1,000) | 500) | —) | —) | —) | |
| Term loan, net, excluding current portion | 63,810) | 47,367) | 46,209) | 45,052) | 39,806) | |
| Convertible notes, net | 545,808) | 95,471) | 89,504) | 84,205) | —) | |
| Long-term finance lease liabilities | 1,001) | 805) | —) | —) | —) | |
| Total debt | 611,619) | 144,143) | 135,713) | 129,257) | 42,413) | |
| Short-term operating lease liabilities | 12,829) | 14,863) | 2,785) | 4,616) | —) | |
| Long-term operating lease liabilities | 126,895) | 112,229) | 440) | 2,195) | —) | |
| Total debt (including operating lease liability) | 751,343) | 271,235) | 138,938) | 136,068) | 42,413) | |
| Stockholders’ equity (deficit) | (107,900) | 243,863) | 113,383) | (10,937) | 25,934) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | — | 1.11 | 1.23 | — | 1.64 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| AbbVie Inc. | 3.72 | 5.03 | 6.66 | — | — | |
| Amgen Inc. | 10.83 | 5.07 | 3.55 | 3.15 | — | |
| Bristol-Myers Squibb Co. | 1.31 | 1.27 | 1.37 | 0.92 | — | |
| Danaher Corp. | 0.41 | 0.52 | 0.56 | 0.74 | — | |
| Eli Lilly & Co. | 1.59 | 1.96 | 3.06 | 6.11 | — | |
| Gilead Sciences Inc. | 1.22 | 1.30 | 1.76 | 1.12 | — | |
| Johnson & Johnson | 0.53 | 0.47 | 0.57 | 0.48 | — | |
| Merck & Co. Inc. | 0.70 | 0.91 | 1.32 | 1.06 | — | |
| Pfizer Inc. | 0.41 | 0.54 | 0.65 | 0.85 | — | |
| Regeneron Pharmaceuticals Inc. | 0.12 | 0.15 | 0.25 | 0.07 | — | |
| Thermo Fisher Scientific Inc. | 0.82 | 0.89 | 0.65 | 0.62 | — | |
| Zoetis Inc. | 1.85 | 1.49 | 1.96 | 2.45 | — | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.87 | 0.99 | 1.19 | 1.15 | — | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.80 | 0.86 | 0.97 | 0.98 | — | |
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).
1 2022 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity (deficit)
= 751,343 ÷ -107,900 = —
2 Click competitor name to see calculations.
Debt to Capital
Cytokinetics Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of term loan | —) | —) | —) | —) | 2,607) | |
| Short-term finance lease liabilities | 1,000) | 500) | —) | —) | —) | |
| Term loan, net, excluding current portion | 63,810) | 47,367) | 46,209) | 45,052) | 39,806) | |
| Convertible notes, net | 545,808) | 95,471) | 89,504) | 84,205) | —) | |
| Long-term finance lease liabilities | 1,001) | 805) | —) | —) | —) | |
| Total debt | 611,619) | 144,143) | 135,713) | 129,257) | 42,413) | |
| Stockholders’ equity (deficit) | (107,900) | 243,863) | 113,383) | (10,937) | 25,934) | |
| Total capital | 503,719) | 388,006) | 249,096) | 118,320) | 68,347) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 1.21 | 0.37 | 0.54 | 1.09 | 0.62 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| AbbVie Inc. | 0.79 | 0.83 | 0.87 | 1.14 | — | |
| Amgen Inc. | 0.91 | 0.83 | 0.78 | 0.76 | — | |
| Bristol-Myers Squibb Co. | 0.56 | 0.55 | 0.57 | 0.48 | — | |
| Danaher Corp. | 0.28 | 0.33 | 0.35 | 0.42 | — | |
| Eli Lilly & Co. | 0.60 | 0.65 | 0.75 | 0.85 | — | |
| Gilead Sciences Inc. | 0.54 | 0.56 | 0.63 | 0.52 | — | |
| Johnson & Johnson | 0.34 | 0.31 | 0.36 | 0.32 | — | |
| Merck & Co. Inc. | 0.40 | 0.46 | 0.56 | 0.50 | — | |
| Pfizer Inc. | 0.27 | 0.33 | 0.39 | 0.45 | — | |
| Regeneron Pharmaceuticals Inc. | 0.11 | 0.13 | 0.20 | 0.06 | — | |
| Thermo Fisher Scientific Inc. | 0.44 | 0.46 | 0.39 | 0.37 | — | |
| Zoetis Inc. | 0.64 | 0.59 | 0.66 | 0.70 | — | |
| Debt to Capital, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.46 | 0.49 | 0.54 | 0.53 | — | |
| Debt to Capital, Industry | ||||||
| Health Care | 0.43 | 0.44 | 0.48 | 0.48 | — | |
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).
1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 611,619 ÷ 503,719 = 1.21
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Cytokinetics Inc. debt to capital ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Debt to Capital (including Operating Lease Liability)
Cytokinetics Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of term loan | —) | —) | —) | —) | 2,607) | |
| Short-term finance lease liabilities | 1,000) | 500) | —) | —) | —) | |
| Term loan, net, excluding current portion | 63,810) | 47,367) | 46,209) | 45,052) | 39,806) | |
| Convertible notes, net | 545,808) | 95,471) | 89,504) | 84,205) | —) | |
| Long-term finance lease liabilities | 1,001) | 805) | —) | —) | —) | |
| Total debt | 611,619) | 144,143) | 135,713) | 129,257) | 42,413) | |
| Short-term operating lease liabilities | 12,829) | 14,863) | 2,785) | 4,616) | —) | |
| Long-term operating lease liabilities | 126,895) | 112,229) | 440) | 2,195) | —) | |
| Total debt (including operating lease liability) | 751,343) | 271,235) | 138,938) | 136,068) | 42,413) | |
| Stockholders’ equity (deficit) | (107,900) | 243,863) | 113,383) | (10,937) | 25,934) | |
| Total capital (including operating lease liability) | 643,443) | 515,098) | 252,321) | 125,131) | 68,347) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 1.17 | 0.53 | 0.55 | 1.09 | 0.62 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| AbbVie Inc. | 0.79 | 0.83 | 0.87 | 1.14 | — | |
| Amgen Inc. | 0.92 | 0.84 | 0.78 | 0.76 | — | |
| Bristol-Myers Squibb Co. | 0.57 | 0.56 | 0.58 | 0.48 | — | |
| Danaher Corp. | 0.29 | 0.34 | 0.36 | 0.43 | — | |
| Eli Lilly & Co. | 0.61 | 0.66 | 0.75 | 0.86 | — | |
| Gilead Sciences Inc. | 0.55 | 0.56 | 0.64 | 0.53 | — | |
| Johnson & Johnson | 0.35 | 0.32 | 0.36 | 0.33 | — | |
| Merck & Co. Inc. | 0.41 | 0.48 | 0.57 | 0.51 | — | |
| Pfizer Inc. | 0.29 | 0.35 | 0.39 | 0.46 | — | |
| Regeneron Pharmaceuticals Inc. | 0.11 | 0.13 | 0.20 | 0.07 | — | |
| Thermo Fisher Scientific Inc. | 0.45 | 0.47 | 0.40 | 0.38 | — | |
| Zoetis Inc. | 0.65 | 0.60 | 0.66 | 0.71 | — | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.46 | 0.50 | 0.54 | 0.53 | — | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.44 | 0.46 | 0.49 | 0.49 | — | |
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).
1 2022 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 751,343 ÷ 643,443 = 1.17
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Cytokinetics Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Debt to Assets
Cytokinetics Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of term loan | —) | —) | —) | —) | 2,607) | |
| Short-term finance lease liabilities | 1,000) | 500) | —) | —) | —) | |
| Term loan, net, excluding current portion | 63,810) | 47,367) | 46,209) | 45,052) | 39,806) | |
| Convertible notes, net | 545,808) | 95,471) | 89,504) | 84,205) | —) | |
| Long-term finance lease liabilities | 1,001) | 805) | —) | —) | —) | |
| Total debt | 611,619) | 144,143) | 135,713) | 129,257) | 42,413) | |
| Total assets | 1,014,775) | 841,319) | 533,803) | 289,814) | 211,178) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.60 | 0.17 | 0.25 | 0.45 | 0.20 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| AbbVie Inc. | 0.46 | 0.52 | 0.57 | 0.75 | — | |
| Amgen Inc. | 0.60 | 0.54 | 0.52 | 0.50 | — | |
| Bristol-Myers Squibb Co. | 0.41 | 0.41 | 0.43 | 0.36 | — | |
| Danaher Corp. | 0.23 | 0.27 | 0.28 | 0.35 | — | |
| Eli Lilly & Co. | 0.33 | 0.35 | 0.36 | 0.39 | — | |
| Gilead Sciences Inc. | 0.40 | 0.39 | 0.46 | 0.40 | — | |
| Johnson & Johnson | 0.21 | 0.19 | 0.20 | 0.18 | — | |
| Merck & Co. Inc. | 0.28 | 0.31 | 0.35 | 0.31 | — | |
| Pfizer Inc. | 0.18 | 0.21 | 0.26 | 0.31 | — | |
| Regeneron Pharmaceuticals Inc. | 0.09 | 0.11 | 0.16 | 0.05 | — | |
| Thermo Fisher Scientific Inc. | 0.35 | 0.37 | 0.31 | 0.30 | — | |
| Zoetis Inc. | 0.53 | 0.47 | 0.53 | 0.56 | — | |
| Debt to Assets, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.31 | 0.33 | 0.36 | 0.36 | — | |
| Debt to Assets, Industry | ||||||
| Health Care | 0.28 | 0.29 | 0.31 | 0.31 | — | |
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).
1 2022 Calculation
Debt to assets = Total debt ÷ Total assets
= 611,619 ÷ 1,014,775 = 0.60
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Cytokinetics Inc. debt to assets ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Debt to Assets (including Operating Lease Liability)
Cytokinetics Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of term loan | —) | —) | —) | —) | 2,607) | |
| Short-term finance lease liabilities | 1,000) | 500) | —) | —) | —) | |
| Term loan, net, excluding current portion | 63,810) | 47,367) | 46,209) | 45,052) | 39,806) | |
| Convertible notes, net | 545,808) | 95,471) | 89,504) | 84,205) | —) | |
| Long-term finance lease liabilities | 1,001) | 805) | —) | —) | —) | |
| Total debt | 611,619) | 144,143) | 135,713) | 129,257) | 42,413) | |
| Short-term operating lease liabilities | 12,829) | 14,863) | 2,785) | 4,616) | —) | |
| Long-term operating lease liabilities | 126,895) | 112,229) | 440) | 2,195) | —) | |
| Total debt (including operating lease liability) | 751,343) | 271,235) | 138,938) | 136,068) | 42,413) | |
| Total assets | 1,014,775) | 841,319) | 533,803) | 289,814) | 211,178) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.74 | 0.32 | 0.26 | 0.47 | 0.20 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| AbbVie Inc. | 0.46 | 0.53 | 0.58 | 0.75 | — | |
| Amgen Inc. | 0.61 | 0.56 | 0.53 | 0.51 | — | |
| Bristol-Myers Squibb Co. | 0.42 | 0.42 | 0.44 | 0.37 | — | |
| Danaher Corp. | 0.25 | 0.28 | 0.29 | 0.36 | — | |
| Eli Lilly & Co. | 0.34 | 0.36 | 0.37 | 0.41 | — | |
| Gilead Sciences Inc. | 0.41 | 0.40 | 0.47 | 0.41 | — | |
| Johnson & Johnson | 0.22 | 0.19 | 0.21 | 0.18 | — | |
| Merck & Co. Inc. | 0.29 | 0.33 | 0.37 | 0.32 | — | |
| Pfizer Inc. | 0.20 | 0.23 | 0.27 | 0.32 | — | |
| Regeneron Pharmaceuticals Inc. | 0.09 | 0.11 | 0.16 | 0.05 | — | |
| Thermo Fisher Scientific Inc. | 0.37 | 0.38 | 0.33 | 0.32 | — | |
| Zoetis Inc. | 0.54 | 0.49 | 0.54 | 0.58 | — | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.32 | 0.34 | 0.37 | 0.37 | — | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.29 | 0.31 | 0.33 | 0.33 | — | |
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).
1 2022 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 751,343 ÷ 1,014,775 = 0.74
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Cytokinetics Inc. debt to assets ratio (including operating lease liability) deteriorated from 2020 to 2021 and from 2021 to 2022. |
Financial Leverage
Cytokinetics Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total assets | 1,014,775) | 841,319) | 533,803) | 289,814) | 211,178) | |
| Stockholders’ equity (deficit) | (107,900) | 243,863) | 113,383) | (10,937) | 25,934) | |
| Solvency Ratio | ||||||
| Financial leverage1 | — | 3.45 | 4.71 | — | 8.14 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| AbbVie Inc. | 8.04 | 9.51 | 11.51 | — | — | |
| Amgen Inc. | 17.79 | 9.13 | 6.69 | 6.17 | — | |
| Bristol-Myers Squibb Co. | 3.12 | 3.04 | 3.13 | 2.52 | — | |
| Danaher Corp. | 1.68 | 1.84 | 1.92 | 2.05 | — | |
| Eli Lilly & Co. | 4.65 | 5.44 | 8.27 | 15.07 | — | |
| Gilead Sciences Inc. | 2.97 | 3.23 | 3.76 | 2.74 | — | |
| Johnson & Johnson | 2.44 | 2.46 | 2.76 | 2.65 | — | |
| Merck & Co. Inc. | 2.37 | 2.77 | 3.62 | 3.26 | — | |
| Pfizer Inc. | 2.06 | 2.35 | 2.44 | 2.65 | — | |
| Regeneron Pharmaceuticals Inc. | 1.29 | 1.36 | 1.56 | 1.34 | — | |
| Thermo Fisher Scientific Inc. | 2.21 | 2.33 | 2.00 | 1.97 | — | |
| Zoetis Inc. | 3.39 | 3.06 | 3.61 | 4.26 | — | |
| Financial Leverage, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 2.68 | 2.90 | 3.21 | 3.12 | — | |
| Financial Leverage, Industry | ||||||
| Health Care | 2.70 | 2.79 | 2.96 | 2.93 | — | |
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).
1 2022 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity (deficit)
= 1,014,775 ÷ -107,900 = —
2 Click competitor name to see calculations.
Interest Coverage
Cytokinetics Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net loss | (388,955) | (215,314) | (127,290) | (121,692) | (106,289) | |
| Add: Income tax expense | —) | —) | —) | —) | —) | |
| Add: Interest expense | 19,414) | 16,440) | 15,963) | 6,623) | 3,797) | |
| Earnings before interest and tax (EBIT) | (369,541) | (198,874) | (111,327) | (115,069) | (102,492) | |
| Solvency Ratio | ||||||
| Interest coverage1 | -19.03 | -12.10 | -6.97 | -17.37 | -26.99 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| AbbVie Inc. | 7.04 | 6.36 | 2.38 | 5.72 | — | |
| Amgen Inc. | 6.22 | 6.60 | 7.44 | 8.09 | — | |
| Bristol-Myers Squibb Co. | 7.26 | 7.07 | -3.84 | 8.58 | — | |
| Danaher Corp. | 40.30 | 32.92 | 17.35 | 31.44 | — | |
| Eli Lilly & Co. | 21.53 | 19.12 | 21.11 | 14.15 | — | |
| Gilead Sciences Inc. | 7.22 | 9.27 | 2.70 | 6.19 | — | |
| Johnson & Johnson | 79.71 | 125.46 | 83.07 | 55.49 | — | |
| Merck & Co. Inc. | 18.09 | 18.22 | 11.58 | 13.84 | — | |
| Pfizer Inc. | 29.05 | 19.83 | 6.17 | 12.23 | — | |
| Regeneron Pharmaceuticals Inc. | 82.80 | 163.75 | 67.97 | 81.43 | — | |
| Thermo Fisher Scientific Inc. | 11.56 | 17.49 | 14.07 | 7.02 | — | |
| Zoetis Inc. | 13.02 | 12.11 | 9.64 | 9.08 | — | |
| Interest Coverage, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 14.99 | 14.65 | 7.34 | 11.18 | — | |
| Interest Coverage, Industry | ||||||
| Health Care | 12.45 | 12.11 | 7.74 | 8.88 | — | |
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).
1 2022 Calculation
Interest coverage = EBIT ÷ Interest expense
= -369,541 ÷ 19,414 = -19.03
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Cytokinetics Inc. interest coverage ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Fixed Charge Coverage
Cytokinetics Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net loss | (388,955) | (215,314) | (127,290) | (121,692) | (106,289) | |
| Add: Income tax expense | —) | —) | —) | —) | —) | |
| Add: Interest expense | 19,414) | 16,440) | 15,963) | 6,623) | 3,797) | |
| Earnings before interest and tax (EBIT) | (369,541) | (198,874) | (111,327) | (115,069) | (102,492) | |
| Add: Rent expense for operating and finance leases | 21,600) | 23,100) | 5,700) | 5,100) | 5,000) | |
| Earnings before fixed charges and tax | (347,941) | (175,774) | (105,627) | (109,969) | (97,492) | |
| Interest expense | 19,414) | 16,440) | 15,963) | 6,623) | 3,797) | |
| Rent expense for operating and finance leases | 21,600) | 23,100) | 5,700) | 5,100) | 5,000) | |
| Fixed charges | 41,014) | 39,540) | 21,663) | 11,723) | 8,797) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | -8.48 | -4.45 | -4.88 | -9.38 | -11.08 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| AbbVie Inc. | 6.54 | 5.90 | 2.28 | 5.42 | — | |
| Amgen Inc. | 5.52 | 5.67 | 6.48 | 7.12 | — | |
| Bristol-Myers Squibb Co. | 6.30 | 6.01 | -3.08 | 7.10 | — | |
| Danaher Corp. | 13.41 | 10.85 | 7.10 | 8.38 | — | |
| Eli Lilly & Co. | 15.17 | 13.33 | 15.06 | 10.18 | — | |
| Gilead Sciences Inc. | 6.30 | 8.15 | 2.45 | 5.46 | — | |
| Johnson & Johnson | 38.72 | 48.16 | 33.93 | 28.72 | — | |
| Merck & Co. Inc. | 13.69 | 13.08 | 8.47 | 10.31 | — | |
| Pfizer Inc. | 18.79 | 14.22 | 4.98 | 9.88 | — | |
| Regeneron Pharmaceuticals Inc. | 68.67 | 138.96 | 57.70 | 60.98 | — | |
| Thermo Fisher Scientific Inc. | 8.12 | 12.19 | 10.30 | 5.61 | — | |
| Zoetis Inc. | 10.76 | 10.08 | 8.21 | 7.85 | — | |
| Fixed Charge Coverage, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 11.58 | 11.33 | 5.95 | 8.97 | — | |
| Fixed Charge Coverage, Industry | ||||||
| Health Care | 8.86 | 8.60 | 5.73 | 6.62 | — | |
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).
1 2022 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= -347,941 ÷ 41,014 = -8.48
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Cytokinetics Inc. fixed charge coverage ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |