Price to Book Value (P/BV)
since 2005
Calculation
Cytokinetics Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity (deficit)1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 1, 2023 | — | = | 43.11 | ÷ | -1.13 | -1.13 | = | -107,900 | ÷ | 95,161,391 | |
| Feb 25, 2022 | 12.19 | = | 35.02 | ÷ | 2.87 | 2.87 | = | 243,863 | ÷ | 84,856,037 | |
| Feb 26, 2021 | 11.75 | = | 18.73 | ÷ | 1.59 | 1.59 | = | 113,383 | ÷ | 71,110,576 | |
| Mar 4, 2020 | — | = | 14.86 | ÷ | -0.18 | -0.18 | = | -10,937 | ÷ | 59,450,437 | |
| Mar 7, 2019 | 12.72 | = | 6.01 | ÷ | 0.47 | 0.47 | = | 25,934 | ÷ | 54,888,369 | |
| Mar 5, 2018 | 4.11 | = | 8.35 | ÷ | 2.03 | 2.03 | = | 109,842 | ÷ | 54,008,113 | |
| Mar 6, 2017 | 5.24 | = | 11.85 | ÷ | 2.26 | 2.26 | = | 94,361 | ÷ | 41,729,549 | |
| Mar 3, 2016 | 3.75 | = | 6.50 | ÷ | 1.73 | 1.73 | = | 68,590 | ÷ | 39,592,808 | |
| Mar 6, 2015 | 3.28 | = | 7.80 | ÷ | 2.38 | 2.38 | = | 92,064 | ÷ | 38,674,892 | |
| Mar 7, 2014 | 6.77 | = | 10.21 | ÷ | 1.51 | 1.51 | = | 54,442 | ÷ | 36,078,367 | |
| Mar 15, 2013 | 2.16 | = | 6.30 | ÷ | 2.91 | 2.91 | = | 70,085 | ÷ | 24,077,245 | |
| Mar 13, 2012 | 1.85 | = | 7.02 | ÷ | 3.78 | 3.78 | = | 48,178 | ÷ | 12,729,467 | |
| Mar 11, 2011 | 1.44 | = | 9.12 | ÷ | 6.32 | 6.32 | = | 70,516 | ÷ | 11,151,683 | |
| Mar 11, 2010 | 2.07 | = | 20.16 | ÷ | 9.74 | 9.74 | = | 101,428 | ÷ | 10,410,819 | |
| Mar 12, 2009 | 2.14 | = | 12.00 | ÷ | 5.61 | 5.61 | = | 49,766 | ÷ | 8,869,882 | |
| Mar 12, 2008 | 1.52 | = | 18.54 | ÷ | 12.16 | 12.16 | = | 99,916 | ÷ | 8,216,883 | |
| Mar 12, 2007 | 3.31 | = | 45.06 | ÷ | 13.63 | 13.63 | = | 106,313 | ÷ | 7,802,005 | |
| Mar 10, 2006 | 3.46 | = | 42.90 | ÷ | 12.41 | 12.41 | = | 73,561 | ÷ | 5,927,659 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Cytokinetics Inc. Annual Report.
The share price exhibited significant volatility over the observed period, beginning at a high of $42.90 in March 2006 and declining sharply to a low near $6.30 by March 2013. After this trough, the price demonstrated a strong recovery trend, reaching a peak of $43.11 in March 2023, closely returning to the initial high levels of the earliest recorded period. This pattern indicates substantial fluctuations in market valuation with a notable rebound after a prolonged downturn.
Book value per share (BVPS) showed a general declining trend from $12.41 in March 2006 to negative values around 2019 and 2020. The value dropped from double-digit positive values to as low as -$0.18 in March 2020, followed by a temporary recovery to $2.87 in March 2022, and again a decline to -$1.13 by March 2023. This suggests financial challenges affecting the company’s net asset value per share, with periods of negative equity observed.
The price-to-book value (P/BV) ratio fluctuated substantially, reflecting the changes in both share price and book value per share. Initially, the ratio was moderately high, above 3 in 2006 and 2007, then it decreased to values near or below 2 during 2008 to 2011, indicating a market valuation closer to the company's net asset value. Notably, the ratio peaked at 12.72 around 2019, showing the market priced the stock significantly above its book value despite declining or negative BVPS. The P/BV ratio remained elevated near double digits into 2022 and 2023 despite swings in BVPS, implying investor optimism or other valuation factors beyond book value considerations during these later years.
Comparison to Competitors
Cytokinetics Inc., P/BV, 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 1, 2023 | — | 15.52 | 35.01 | 4.88 | 3.64 | 29.36 | 4.90 | 5.37 | 6.07 | 2.48 | 3.77 | 4.83 | 5.50 |
| Feb 25, 2022 | 12.19 | 16.53 | 18.51 | 4.07 | 4.16 | 25.28 | 3.65 | 5.90 | 5.05 | 3.35 | 3.60 | 5.18 | 6.16 |
| Feb 26, 2021 | 11.75 | 14.18 | 14.53 | 3.55 | 3.93 | 35.07 | 4.33 | 6.72 | 7.46 | 2.98 | 4.81 | 5.15 | 6.30 |
| Mar 4, 2020 | — | — | 13.84 | 2.80 | 3.72 | 51.67 | 3.93 | 6.61 | 7.83 | 3.00 | 3.79 | 4.16 | 10.23 |
| Mar 7, 2019 | 12.72 | — | 9.41 | 5.89 | 2.80 | 12.87 | 3.89 | 6.08 | 7.79 | 3.80 | 5.07 | 3.75 | 10.68 |
| Mar 5, 2018 | 4.11 | 36.95 | 5.02 | 8.88 | 2.58 | 7.33 | 5.15 | 5.79 | 4.30 | 2.94 | 5.66 | 3.30 | 20.14 |
| Mar 6, 2017 | 5.24 | 21.24 | 4.14 | 5.66 | 2.56 | 6.33 | 4.88 | 4.72 | 4.51 | 3.40 | 8.58 | 2.86 | 18.42 |
| Mar 3, 2016 | 3.75 | 22.17 | 3.94 | 7.04 | 2.53 | 5.51 | 6.59 | 4.07 | 3.15 | 2.84 | 10.53 | 2.42 | 22.38 |
| Mar 6, 2015 | 3.28 | 56.09 | 4.59 | 6.72 | 2.63 | 5.14 | 10.08 | 4.01 | 3.42 | 2.95 | 16.22 | 2.51 | 25.60 |
| Mar 7, 2014 | 6.77 | 18.05 | 4.30 | 5.92 | 2.38 | 3.69 | 11.36 | 3.50 | 3.35 | 2.69 | 16.74 | 2.90 | 14.77 |
| Mar 15, 2013 | 2.16 | 18.06 | 3.57 | 4.40 | 2.23 | 4.15 | 7.01 | 3.29 | 2.44 | 2.42 | 12.91 | 1.72 | 10.08 |
| Mar 13, 2012 | 1.85 | — | 2.83 | 3.50 | 2.17 | 3.35 | 5.08 | 3.13 | 2.14 | 1.95 | 19.19 | 1.38 | 10.05 |
| Mar 11, 2011 | 1.44 | — | 2.04 | 2.76 | 2.39 | 3.21 | 5.29 | 2.88 | 1.85 | 1.75 | 6.42 | 1.41 | 16.16 |
| Mar 11, 2010 | 2.07 | — | 2.46 | 2.88 | 2.07 | 4.17 | 6.74 | 3.45 | 1.97 | 1.57 | 5.49 | 1.29 | 7.45 |
| Mar 12, 2009 | 2.14 | — | 2.48 | 3.29 | 1.69 | 5.01 | 9.83 | 3.56 | 2.72 | 1.44 | 2.94 | 1.02 | 21.09 |
| Mar 12, 2008 | 1.52 | — | 2.77 | 4.22 | 2.62 | 4.16 | 11.76 | 4.17 | 5.38 | 2.32 | 3.24 | 1.62 | 8.92 |
| Mar 12, 2007 | 3.31 | — | 3.96 | 5.50 | 3.32 | 5.43 | 18.07 | 4.78 | 5.45 | 2.49 | 5.77 | 1.38 | 7.52 |
| Mar 10, 2006 | 3.46 | — | 4.26 | 4.00 | 3.78 | 5.85 | 9.18 | 4.66 | 4.30 | 2.94 | 8.16 | 2.03 | 18.12 |
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., P/BV, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Cytokinetics Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Mar 1, 2023 | — | 5.66 |
| Feb 25, 2022 | 12.19 | 5.72 |
| Feb 26, 2021 | 11.75 | 5.99 |
| Mar 4, 2020 | — | 5.82 |
| Mar 7, 2019 | 12.72 | 6.02 |
| Mar 5, 2018 | 4.11 | 5.14 |
| Mar 6, 2017 | 5.24 | 4.58 |
| Mar 3, 2016 | 3.75 | 4.15 |
| Mar 6, 2015 | 3.28 | 4.47 |
| Mar 7, 2014 | 6.77 | 3.97 |
| Mar 15, 2013 | 2.16 | 3.21 |
| Mar 13, 2012 | 1.85 | 2.55 |
| Mar 11, 2011 | 1.44 | 2.25 |
| Mar 11, 2010 | 2.07 | 2.37 |
| Mar 12, 2009 | 2.14 | 2.60 |
| Mar 12, 2008 | 1.52 | 3.42 |
| Mar 12, 2007 | 3.31 | 3.82 |
| Mar 10, 2006 | 3.46 | 4.00 |
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., P/BV, long-term trends, comparison to industry (health care)
| Cytokinetics Inc. | Health Care | |
|---|---|---|
| Mar 1, 2023 | — | 87,112.79 |
| Feb 25, 2022 | 12.19 | 5.48 |
| Feb 26, 2021 | 11.75 | 5.37 |
| Mar 4, 2020 | — | 5.14 |
| Mar 7, 2019 | 12.72 | 5.17 |
| Mar 5, 2018 | 4.11 | 4.55 |
| Mar 6, 2017 | 5.24 | 4.06 |
| Mar 3, 2016 | 3.75 | 3.62 |
| Mar 6, 2015 | 3.28 | 4.10 |
| Mar 7, 2014 | 6.77 | 3.51 |
| Mar 15, 2013 | 2.16 | 2.87 |
| Mar 13, 2012 | 1.85 | 2.51 |
| Mar 11, 2011 | 1.44 | 2.24 |
| Mar 11, 2010 | 2.07 | 2.36 |
| Mar 12, 2009 | 2.14 | 2.65 |
| Mar 12, 2008 | 1.52 | 3.45 |
| Mar 12, 2007 | 3.31 | 3.81 |
| Mar 10, 2006 | 3.46 | 3.97 |
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).