Return on Assets (ROA)
since 2005
Calculation
Cytokinetics Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss)1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | -38.33% | = | 100 | × | (388,955) | ÷ | 1,014,775) |
| Dec 31, 2021 | -25.59% | = | 100 | × | (215,314) | ÷ | 841,319) |
| Dec 31, 2020 | -23.85% | = | 100 | × | (127,290) | ÷ | 533,803) |
| Dec 31, 2019 | -41.99% | = | 100 | × | (121,692) | ÷ | 289,814) |
| Dec 31, 2018 | -50.33% | = | 100 | × | (106,289) | ÷ | 211,178) |
| Dec 31, 2017 | -43.35% | = | 100 | × | (127,790) | ÷ | 294,810) |
| Dec 31, 2016 | 9.67% | = | 100 | × | 16,453) | ÷ | 170,142) |
| Dec 31, 2015 | -32.54% | = | 100 | × | (37,501) | ÷ | 115,237) |
| Dec 31, 2014 | -11.01% | = | 100 | × | (14,646) | ÷ | 132,968) |
| Dec 31, 2013 | -40.53% | = | 100 | × | (33,717) | ÷ | 83,188) |
| Dec 31, 2012 | -52.06% | = | 100 | × | (40,370) | ÷ | 77,551) |
| Dec 31, 2011 | -90.69% | = | 100 | × | (47,860) | ÷ | 52,773) |
| Dec 31, 2010 | -63.19% | = | 100 | × | (49,287) | ÷ | 77,992) |
| Dec 31, 2009 | 20.02% | = | 100 | × | 24,544) | ÷ | 122,599) |
| Dec 31, 2008 | -64.46% | = | 100 | × | (56,374) | ÷ | 87,454) |
| Dec 31, 2007 | -31.47% | = | 100 | × | (48,894) | ÷ | 155,370) |
| Dec 31, 2006 | -33.69% | = | 100 | × | (57,115) | ÷ | 169,516) |
| Dec 31, 2005 | -46.20% | = | 100 | × | (42,252) | ÷ | 91,461) |
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 long-term financial trajectory from 2005 to 2022 is characterized by persistent net losses and significant volatility in Return on Assets (ROA). Profitability remained elusive for the majority of the period, with only two instances of positive returns, indicating a business model focused on investment and development rather than immediate earnings generation.
- Return on Assets (ROA) Volatility
- ROA exhibited extreme fluctuations throughout the period. The metric reached its lowest point in 2011 at -90.69%, following a period of severe instability between 2008 and 2011 where losses frequently exceeded the total asset base. Conversely, the company achieved positive ROA in 2009 (20.02%) and 2016 (9.67%), representing isolated periods of profitability amidst a broader trend of negative returns.
- Asset Base Expansion
- A substantial increase in the total asset base is observed, particularly after 2016. Assets grew from 170.1 million USD in 2016 to 1.015 billion USD by 2022. This represents a significant scaling of the company's resources over the final six years of the analyzed period.
- Correlation Between Assets and Net Income
- Despite the massive expansion of total assets, net losses accelerated in magnitude. While losses in the early period typically ranged between 14 million and 57 million USD, the losses from 2017 onward escalated sharply, culminating in a net loss of 388.9 million USD in 2022. This suggests that the increase in assets has not yet yielded operational efficiencies or revenue streams sufficient to offset rising expenditures.
- Recent Performance Trends
- From 2017 to 2022, the ROA remained consistently negative, fluctuating between -23.85% in 2020 and -50.33% in 2018. Although the asset base grew more than threefold during this window, the deepening net losses have prevented the ROA from stabilizing or returning to positive territory, resulting in a sustained negative return on the expanded capital base.
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Comparison to Competitors
Cytokinetics Inc., ROA, 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 | -38.33% | 8.53% | 10.06% | 6.53% | 8.55% | 12.62% | 7.27% | 9.57% | 13.30% | 15.91% | 14.85% | 7.15% | 18.30% |
| Dec 31, 2021 | -25.59% | 7.88% | 9.63% | 6.40% | 7.73% | 11.44% | 9.16% | 11.47% | 12.35% | 12.11% | 31.75% | 8.12% | 17.44% |
| Dec 31, 2020 | -23.85% | 3.07% | 11.54% | -7.61% | 4.79% | 13.28% | 0.18% | 8.41% | 7.72% | 6.23% | 20.47% | 9.23% | 23.07% |
| Dec 31, 2019 | -41.99% | 8.84% | 13.13% | 2.65% | 4.85% | 21.17% | 8.74% | 9.59% | 11.66% | 9.72% | 14.29% | 6.33% | 14.15% |
| Dec 31, 2018 | -50.33% | 9.58% | 12.64% | 14.06% | 5.54% | 7.36% | 8.57% | 10.00% | 7.53% | 7.00% | 20.83% | 5.22% | 33.57% |
| Dec 31, 2017 | -43.35% | 7.50% | 2.48% | 3.00% | 5.34% | -0.45% | 6.58% | 0.83% | 2.72% | 12.40% | 13.67% | 3.93% | 7.43% |
| Dec 31, 2016 | 9.67% | 9.01% | 9.95% | 13.22% | 5.64% | 7.05% | 23.70% | 11.71% | 4.11% | 4.20% | 12.84% | 4.40% | -3.87% |
| Dec 31, 2015 | -32.54% | 9.70% | 9.69% | 4.93% | 6.96% | 6.77% | 34.93% | 11.55% | 4.36% | 4.16% | 11.34% | 4.83% | -22.26% |
| Dec 31, 2014 | -11.01% | 6.44% | 7.47% | 5.94% | 7.02% | 6.43% | 34.91% | 12.45% | 12.12% | 5.40% | 8.99% | 4.42% | -31.63% |
| Dec 31, 2013 | -40.53% | 14.14% | 7.68% | 6.64% | 7.77% | 13.29% | 13.67% | 10.42% | 4.17% | 12.78% | 14.38% | 4.00% | -19.19% |
| Dec 31, 2012 | -52.06% | 19.53% | 8.00% | 5.46% | 7.26% | 11.89% | 12.20% | 8.94% | 5.81% | 7.84% | 36.06% | 4.29% | -3.88% |
| Dec 31, 2011 | -90.69% | — | 7.54% | 11.25% | 7.25% | 12.92% | 16.20% | 8.51% | 5.97% | 5.32% | -16.75% | 4.96% | 1.34% |
| Dec 31, 2010 | -63.19% | — | 10.64% | 9.98% | 8.07% | 16.35% | 25.03% | 12.96% | 0.81% | 4.23% | -9.59% | 4.85% | -43.74% |
| Dec 31, 2009 | 20.02% | — | 11.62% | 34.22% | 5.88% | 15.76% | 27.18% | 12.95% | 11.51% | 4.05% | -9.15% | 3.93% | -32.84% |
| Dec 31, 2008 | -64.46% | — | 11.51% | 17.76% | 7.53% | -7.09% | 28.65% | 15.25% | 16.54% | 7.29% | -12.34% | 4.71% | -46.90% |
| Dec 31, 2007 | -31.47% | — | 9.14% | 8.27% | 7.84% | 11.02% | 27.68% | 13.06% | 6.77% | 7.07% | -11.28% | 3.59% | -65.05% |
| Dec 31, 2006 | -33.69% | — | 8.73% | 6.20% | 8.72% | 12.13% | -29.12% | 15.67% | 9.95% | 16.84% | -17.49% | 0.79% | -22.45% |
| Dec 31, 2005 | -46.20% | — | 12.54% | 10.66% | 9.80% | 8.05% | 21.62% | 17.94% | 10.33% | 6.88% | -22.54% | 5.25% | -37.05% |
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., ROA, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Cytokinetics Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2022 | -38.33% | 10.67% |
| Dec 31, 2021 | -25.59% | 10.42% |
| Dec 31, 2020 | -23.85% | 5.45% |
| Dec 31, 2019 | -41.99% | 9.02% |
| Dec 31, 2018 | -50.33% | 8.97% |
| Dec 31, 2017 | -43.35% | 5.28% |
| Dec 31, 2016 | 9.67% | 8.61% |
| Dec 31, 2015 | -32.54% | 8.93% |
| Dec 31, 2014 | -11.01% | 9.45% |
| Dec 31, 2013 | -40.53% | 9.46% |
| Dec 31, 2012 | -52.06% | 8.30% |
| Dec 31, 2011 | -90.69% | 7.30% |
| Dec 31, 2010 | -63.19% | 7.07% |
| Dec 31, 2009 | 20.02% | 10.02% |
| Dec 31, 2008 | -64.46% | 10.37% |
| Dec 31, 2007 | -31.47% | 8.86% |
| Dec 31, 2006 | -33.69% | 11.91% |
| Dec 31, 2005 | -46.20% | 10.42% |
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., ROA, long-term trends, comparison to industry (health care)
| Cytokinetics Inc. | Health Care | |
|---|---|---|
| Dec 31, 2022 | -38.33% | 9.66% |
| Dec 31, 2021 | -25.59% | 9.46% |
| Dec 31, 2020 | -23.85% | 5.81% |
| Dec 31, 2019 | -41.99% | 8.32% |
| Dec 31, 2018 | -50.33% | 7.90% |
| Dec 31, 2017 | -43.35% | 5.19% |
| Dec 31, 2016 | 9.67% | 7.31% |
| Dec 31, 2015 | -32.54% | 7.71% |
| Dec 31, 2014 | -11.01% | 8.59% |
| Dec 31, 2013 | -40.53% | 8.76% |
| Dec 31, 2012 | -52.06% | 8.09% |
| Dec 31, 2011 | -90.69% | 7.36% |
| Dec 31, 2010 | -63.19% | 7.24% |
| Dec 31, 2009 | 20.02% | 9.73% |
| Dec 31, 2008 | -64.46% | 9.50% |
| Dec 31, 2007 | -31.47% | 8.88% |
| Dec 31, 2006 | -33.69% | 10.52% |
| Dec 31, 2005 | -46.20% | 9.67% |
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).