Debt to Equity
since 2005
Calculation
Cytokinetics Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Debt1 | ÷ | Stockholders’ equity (deficit)1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | — | = | 609,618) | ÷ | (107,900) |
| Dec 31, 2021 | 0.59 | = | 142,838) | ÷ | 243,863) |
| Dec 31, 2020 | 1.20 | = | 135,713) | ÷ | 113,383) |
| Dec 31, 2019 | — | = | 129,257) | ÷ | (10,937) |
| Dec 31, 2018 | 1.64 | = | 42,413) | ÷ | 25,934) |
| Dec 31, 2017 | 0.29 | = | 31,777) | ÷ | 109,842) |
| Dec 31, 2016 | 0.32 | = | 29,881) | ÷ | 94,361) |
| Dec 31, 2015 | 0.21 | = | 14,639) | ÷ | 68,590) |
| Dec 31, 2014 | 0.00 | = | —) | ÷ | 92,064) |
| Dec 31, 2013 | 0.00 | = | —) | ÷ | 54,442) |
| Dec 31, 2012 | 0.00 | = | —) | ÷ | 70,085) |
| Dec 31, 2011 | 0.00 | = | 152) | ÷ | 48,178) |
| Dec 31, 2010 | 0.01 | = | 985) | ÷ | 70,516) |
| Dec 31, 2009 | 0.03 | = | 2,601) | ÷ | 101,428) |
| Dec 31, 2008 | 0.09 | = | 4,640) | ÷ | 49,766) |
| Dec 31, 2007 | 0.09 | = | 8,689) | ÷ | 99,916) |
| Dec 31, 2006 | 0.10 | = | 10,835) | ÷ | 106,313) |
| Dec 31, 2005 | 0.13 | = | 9,362) | ÷ | 73,561) |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The financial data over the period exhibits notable fluctuations and trends in debt, stockholders’ equity, and the debt-to-equity ratio.
- Debt
- From 2005 to 2010, debt levels show a significant downward trend, decreasing from approximately 9.4 million to below 1 million US dollars. There is a period with missing data following 2010, making it difficult to fully assess mid-decade levels. However, from 2013 onward, debt rises sharply, reaching a peak of over 600 million US dollars by 2022. This dramatic increase in debt in the later years may indicate increased leveraging or financing activities during that period.
- Stockholders’ Equity (Deficit)
- Stockholders’ equity experiences considerable volatility. Starting at around 73.6 million US dollars in 2005, it generally remains positive with some fluctuations until 2018, where a sharp decline occurs. Notably, in 2019 and 2022, stockholders’ equity is negative, reflecting potential financial distress or accumulated losses. The highest value is observed in 2021, exceeding 240 million US dollars, indicating a significant improvement before the negative shift in 2022.
- Debt to Equity Ratio
- The debt to equity ratio decreases gradually from 0.13 in 2005 to a low of around 0.01 in 2010, corresponding with the decline in debt and relatively stable equity levels. Following 2013, the ratio climbs substantially, peaking at 1.64 in 2017, which suggests a high level of debt relative to equity. This elevated ratio indicates greater financial leverage and risk. The ratio slightly moderates in the years after 2017 but remains elevated compared to the early period, consistent with the observed increases in debt and fluctuations in equity.
Overall, the data depict a company that reduced its debt significantly in the first half of the period while maintaining positive equity. The latter half shows increased reliance on debt, heightened financial leverage, and considerable volatility in equity, including periods of negative equity. These trends point to potentially increased financial risk and changing capital structure strategies in recent years.
Comparison to Competitors
Cytokinetics Inc., debt to equity, long-term trends, comparison to competitors
| Cytokinetics Inc. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | — | 3.67 | 10.64 | 1.27 | 0.39 | 1.52 | 1.19 | 0.52 | 0.67 | 0.37 | 0.12 | 0.78 | 0.03 |
| Dec 31, 2021 | 0.59 | 4.98 | 4.97 | 1.24 | 0.49 | 1.88 | 1.27 | 0.46 | 0.87 | 0.50 | 0.14 | 0.85 | 0.06 |
| Dec 31, 2020 | 1.20 | 6.58 | 3.51 | 1.34 | 0.53 | 2.94 | 1.73 | 0.56 | 1.26 | 0.63 | 0.24 | 0.63 | 0.07 |
| Dec 31, 2019 | — | — | 3.09 | 0.91 | 0.72 | 5.88 | 1.09 | 0.47 | 1.02 | 0.83 | 0.06 | 0.60 | 0.09 |
| Dec 31, 2018 | 1.64 | — | 2.71 | 0.52 | 0.35 | 1.30 | 1.28 | 0.51 | 0.94 | 0.66 | 0.08 | 0.69 | 0.13 |
| Dec 31, 2017 | 0.29 | 7.33 | 1.40 | 0.68 | 0.40 | 1.18 | 1.64 | 0.57 | 0.71 | 0.60 | 0.11 | 0.83 | 0.29 |
| Dec 31, 2016 | 0.32 | 7.95 | 1.16 | 0.41 | 0.53 | 0.74 | 1.39 | 0.39 | 0.62 | 0.71 | 0.11 | 0.77 | 0.71 |
| Dec 31, 2015 | 0.21 | 8.03 | 1.12 | 0.47 | 0.54 | 0.55 | 1.20 | 0.28 | 0.59 | 0.60 | 0.10 | 0.59 | 0.86 |
| Dec 31, 2014 | 0.00 | 8.62 | 1.19 | 0.53 | 0.15 | 0.52 | 0.80 | 0.27 | 0.44 | 0.51 | 0.18 | 0.71 | 0.75 |
| Dec 31, 2013 | 0.00 | 3.28 | 1.45 | 0.55 | 0.16 | 0.30 | 0.58 | 0.25 | 0.50 | 0.48 | 0.26 | 0.62 | 0.36 |
| Dec 31, 2012 | 0.00 | 4.66 | 1.39 | 0.54 | 0.28 | 0.37 | 0.88 | 0.25 | 0.39 | 0.46 | 0.37 | 0.46 | 0.68 |
| Dec 31, 2011 | 0.00 | — | 1.13 | 0.34 | 0.31 | 0.52 | 1.13 | 0.34 | 0.32 | 0.47 | 0.90 | 0.47 | 0.58 |
| Dec 31, 2010 | 0.01 | — | 0.56 | 0.35 | 0.21 | 0.56 | 0.59 | 0.30 | 0.33 | 0.50 | 0.31 | 0.14 | 1.07 |
| Dec 31, 2009 | 0.03 | — | 0.47 | 0.43 | 0.25 | 0.70 | 0.18 | 0.29 | 0.30 | 0.54 | 0.27 | 0.14 | 0.14 |
| Dec 31, 2008 | 0.09 | — | 0.50 | 0.55 | 0.27 | 1.55 | 0.31 | 0.28 | 0.33 | 0.30 | 0.00 | 0.14 | 1.20 |
| Dec 31, 2007 | 0.09 | — | 0.63 | 0.59 | 0.41 | 0.37 | 0.38 | 0.22 | 0.32 | 0.20 | 0.43 | 0.15 | 0.07 |
| Dec 31, 2006 | 0.10 | — | 0.48 | 0.74 | 0.37 | 0.34 | 0.77 | 0.17 | 0.39 | 0.11 | 0.92 | 0.19 | 0.24 |
| Dec 31, 2005 | 0.13 | — | 0.19 | 0.77 | 0.21 | 0.60 | 0.10 | 0.07 | 0.45 | 0.27 | 1.75 | 0.21 | 0.75 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Cytokinetics Inc., debt to equity, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Cytokinetics Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2022 | — | 0.80 |
| Dec 31, 2021 | 0.59 | 0.93 |
| Dec 31, 2020 | 1.20 | 1.12 |
| Dec 31, 2019 | — | 1.09 |
| Dec 31, 2018 | 1.64 | 0.93 |
| Dec 31, 2017 | 0.29 | 0.87 |
| Dec 31, 2016 | 0.32 | 0.79 |
| Dec 31, 2015 | 0.21 | 0.68 |
| Dec 31, 2014 | 0.00 | 0.55 |
| Dec 31, 2013 | 0.00 | 0.52 |
| Dec 31, 2012 | 0.00 | 0.51 |
| Dec 31, 2011 | 0.00 | 0.46 |
| Dec 31, 2010 | 0.01 | 0.40 |
| Dec 31, 2009 | 0.03 | 0.39 |
| Dec 31, 2008 | 0.09 | 0.37 |
| Dec 31, 2007 | 0.09 | 0.30 |
| Dec 31, 2006 | 0.10 | 0.25 |
| Dec 31, 2005 | 0.13 | 0.29 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Cytokinetics Inc., debt to equity, long-term trends, comparison to industry (health care)
| Cytokinetics Inc. | Health Care | |
|---|---|---|
| Dec 31, 2022 | — | 0.72 |
| Dec 31, 2021 | 0.59 | 0.80 |
| Dec 31, 2020 | 1.20 | 0.92 |
| Dec 31, 2019 | — | 0.90 |
| Dec 31, 2018 | 1.64 | 0.80 |
| Dec 31, 2017 | 0.29 | 0.82 |
| Dec 31, 2016 | 0.32 | 0.77 |
| Dec 31, 2015 | 0.21 | 0.69 |
| Dec 31, 2014 | 0.00 | 0.54 |
| Dec 31, 2013 | 0.00 | 0.50 |
| Dec 31, 2012 | 0.00 | 0.54 |
| Dec 31, 2011 | 0.00 | 0.47 |
| Dec 31, 2010 | 0.01 | 0.43 |
| Dec 31, 2009 | 0.03 | 0.42 |
| Dec 31, 2008 | 0.09 | 0.42 |
| Dec 31, 2007 | 0.09 | 0.36 |
| Dec 31, 2006 | 0.10 | 0.32 |
| Dec 31, 2005 | 0.13 | 0.30 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).