Operating Profit Margin
since 2005
Calculation
Cytokinetics Inc., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Operating income (loss)1 | ÷ | Revenues1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | -342.75% | = | 100 | × | (324,202) | ÷ | 94,588) |
| Dec 31, 2021 | -264.54% | = | 100 | × | (186,313) | ÷ | 70,428) |
| Dec 31, 2020 | -168.27% | = | 100 | × | (93,943) | ÷ | 55,828) |
| Dec 31, 2019 | -367.97% | = | 100 | × | (98,867) | ÷ | 26,868) |
| Dec 31, 2018 | -282.26% | = | 100 | × | (88,916) | ÷ | 31,501) |
| Dec 31, 2017 | -848.26% | = | 100 | × | (113,396) | ÷ | 13,368) |
| Dec 31, 2016 | 17.56% | = | 100 | × | 18,687) | ÷ | 106,407) |
| Dec 31, 2015 | -130.53% | = | 100 | × | (37,407) | ÷ | 28,658) |
| Dec 31, 2014 | -31.43% | = | 100 | × | (14,754) | ÷ | 46,940) |
| Dec 31, 2013 | -110.59% | = | 100 | × | (33,894) | ÷ | 30,648) |
| Dec 31, 2012 | -535.22% | = | 100 | × | (40,457) | ÷ | 7,559) |
| Dec 31, 2011 | -1,199.10% | = | 100 | × | (47,964) | ÷ | 4,000) |
| Dec 31, 2010 | -1,926.08% | = | 100 | × | (49,635) | ÷ | 2,577) |
| Dec 31, 2009 | 32.00% | = | 100 | × | 26,095) | ÷ | 81,538) |
| Dec 31, 2008 | -475.68% | = | 100 | × | (59,079) | ÷ | 12,420) |
| Dec 31, 2007 | -414.67% | = | 100 | × | (56,487) | ÷ | 13,622) |
| Dec 31, 2006 | -1,961.56% | = | 100 | × | (61,338) | ÷ | 3,127) |
| Dec 31, 2005 | -500.82% | = | 100 | × | (44,633) | ÷ | 8,912) |
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 operational financial performance from 2005 to 2022 is characterized by significant volatility and a prevailing pattern of operating losses, punctuated by rare periods of profitability. The operating profit margin has fluctuated drastically, reflecting a business model with inconsistent revenue streams relative to high operating expenditures.
- Analysis of Margin Volatility and Profitability Peaks
- The operating profit margin remained deeply negative for the majority of the period, often exceeding -100%, which indicates that operating expenses significantly outweighed total revenues. Notable exceptions occurred in 2009 and 2016, where the margin turned positive at 32.00% and 17.56%, respectively. These peaks coincide with substantial increases in revenue—reaching 81.5 million USD in 2009 and 106.4 million USD in 2016—suggesting that profitability is heavily dependent on infrequent, large-scale revenue events rather than steady organic growth.
- Operating Loss Acceleration (2017–2022)
- Following the 2016 peak, a trend of widening operational deficits is observed. Although revenues grew from 13.4 million USD in 2017 to 94.6 million USD in 2022, the operating loss expanded at a much faster rate, increasing from -113.4 million USD to -324.2 million USD over the same period. Consequently, the operating profit margin deteriorated from -848.26% in 2017 to -342.75% by the end of 2022. This divergence indicates that the scale of operating expenses is increasing more rapidly than the company's ability to generate revenue.
- Long-term Structural Trends
- The period between 2005 and 2014 showed extreme fluctuations, with margins swinging from -1,961.56% in 2006 to -31.43% in 2014. This volatility suggests a lack of stability in the cost structure relative to income. While the magnitude of the negative margins in the final five years is less extreme than the peaks seen in 2006 and 2010, the absolute value of the operating losses has reached its highest historical levels, signaling a period of intensified spending.
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Comparison to Competitors
Cytokinetics Inc., operating profit margin, long-term trends, comparison to competitors
| Cytokinetics Inc. | AbbVie Inc. | Amgen Inc. | Danaher Corp. | Gilead Sciences Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | -342.75% | 31.21% | 38.57% | 27.61% | 27.17% | 38.93% | 18.69% | 48.23% |
| Dec 31, 2021 | -264.54% | 31.89% | 31.44% | 25.35% | 36.72% | 55.67% | 25.57% | 36.73% |
| Dec 31, 2020 | -168.27% | 24.81% | 37.70% | 18.99% | 16.72% | 42.09% | 24.19% | 46.03% |
| Dec 31, 2019 | -367.97% | 39.03% | 43.57% | 18.25% | 19.38% | 28.10% | 17.99% | 28.77% |
| Dec 31, 2018 | -282.26% | 19.49% | 45.55% | 17.11% | 37.83% | 37.77% | 15.53% | 20.84% |
| Dec 31, 2017 | -848.26% | 33.99% | 45.76% | 16.48% | 55.04% | 35.41% | 14.19% | 4.95% |
| Dec 31, 2016 | 17.56% | 36.60% | 44.74% | 16.29% | 58.87% | 27.38% | 13.40% | 0.58% |
| Dec 31, 2015 | -130.53% | 32.97% | 40.44% | 16.87% | 69.03% | 30.51% | 13.77% | -45.23% |
| Dec 31, 2014 | -31.43% | 17.09% | 32.03% | 17.23% | 62.37% | 29.74% | 14.82% | -119.30% |
| Dec 31, 2013 | -110.59% | 30.14% | 32.25% | 17.13% | 41.87% | 36.11% | 12.30% | -74.54% |
| Dec 31, 2012 | -535.22% | 31.65% | 33.52% | 17.33% | 42.67% | 33.20% | 11.85% | 0.15% |
| Dec 31, 2011 | -1,199.10% | — | 28.19% | 16.27% | 46.77% | -46.02% | 10.62% | 8.07% |
| Dec 31, 2010 | -1,926.08% | — | 37.82% | 16.41% | 53.62% | -21.23% | 11.72% | -485.51% |
| Dec 31, 2009 | 32.00% | — | 38.37% | 13.79% | 54.55% | -19.54% | 10.38% | -602.63% |
| Dec 31, 2008 | -475.68% | — | 35.50% | 14.72% | 52.68% | -37.67% | 11.71% | -263.65% |
| Dec 31, 2007 | -414.67% | — | 27.81% | 15.79% | 57.98% | -91.55% | 10.00% | -210.94% |
| Dec 31, 2006 | -1,961.56% | — | 27.71% | 15.82% | -29.32% | -169.68% | 6.38% | -105.86% |
| Dec 31, 2005 | -500.82% | — | 40.33% | 15.84% | 61.41% | -187.97% | 10.01% | -93.15% |
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).