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Cytokinetics

CYTK Nasdaq Biotechnology Financials FY2016–FY2025

Cytokinetics' revenue rose 376.6% to $88 million in fiscal 2025. Its operating margin was −695.4%, up from −2,902.7% a year earlier. Free cash flow was −$535 million.

Last close · Oct 23, 2026

$61.23

1.8%
Value it Compare
Revenue Total sales reported in the income statement.
$88.0M
375.7% vs prior year
Operating margin Operating income as a share of revenue.
−695.4%
2,207.3 pts
Net income Profit after all expenses, interest and tax.
−$785M
Free cash flow Cash from operations minus capital spending.
−$535M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
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Market cap Last close times the latest diluted share count, so it is approximate.
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Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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About these figures. Cytokinetics' filings give its share count in thousands while labelling it as a number of shares, in every year, so the share count is left blank; its earnings per share are as filed.

What Cytokinetics does

No business description yet.

Legal name
CYTOKINETICS, INCORPORATED
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0001193125-26-076495
0001061983

Revenue and margins

Cytokinetics had $88.0M of revenue in fiscal 2025, up 376.6% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$535M in fiscal 2025, −607.5% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Cytokinetics returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Cytokinetics yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of $912M and divides by 0.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Cytokinetics can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $624M$829M$655M$1.2B$1.2B
Debt incl. finance leases $48.7M$652M$640M$620M$288M
Debt / equity 0.2x————
Interest coverage −11.3x−16.7x−17.5x−14.2x−13.4x
Current ratio 7.5x9.4x6.1x6.2x4.5x
Quick ratio 7.5x9.4x6.1x6.2x4.5x
Total assets $841M$1.0B$824M$1.4B$1.4B
Total liabilities $598M$1.1B$1.2B$1.5B$2.1B
Shareholders' equity $244M−$108M−$386M−$135M−$660M
Net debt (− = net cash) −$575M−$178M−$15.0M−$601M−$912M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$10.6M

5 insiders

Of sales under plans

100%

$10.6M

DateInsiderTradeSharesPriceValueFiling
Oct 20, 2026 Fady Ibraham MalikEVP Research & Development Sold plan 3,500 $64.01 $0.2M Form 4
Sep 28, 2026 Robert I BlumPresident & CEO, Director Sold plan 7,500 $65.46 $0.5M Form 4
Sep 22, 2026 Fady Ibraham MalikEVP Research & Development Sold plan 3,500 $68.29 $0.2M Form 4
Sep 15, 2026 Robert E LandryDirector Sold plan 1,000 $72.13 $0.1M Form 4
Sep 15, 2026 Robert I BlumPresident & CEO, Director Sold plan 97,926 $69.33 $6.8M Form 4
Sep 14, 2026 Robert I BlumPresident & CEO, Director Sold plan 7,500 $73.44 $0.6M Form 4
Sep 11, 2026 Robert E LandryDirector Sold plan 1,000 $74.66 $0.1M Form 4
Sep 8, 2026 Fady Ibraham MalikEVP Research & Development Sold plan 3,500 $75.46 $0.3M Form 4
Sep 1, 2026 Parshall B LynneDirector Sold plan 5,000 $71.48 $0.4M Form 4
Aug 31, 2026 Andrew CallosEVP, Chief Commercial Officer Sold plan 10,000 $70.24 $0.7M Form 4
Aug 31, 2026 Robert I BlumPresident & CEO, Director Sold plan 7,500 $70.24 $0.5M Form 4
Aug 18, 2026 Fady Ibraham MalikEVP Research & Development Sold plan 3,500 $75.82 $0.3M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✕ ✕ ✕
Cash from operations is positive ✕ ✕ ✕
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✕ ✓ ✕
Share count didn't rise — — —
Gross margin rose — — —
Revenue rose relative to assets ✕ ✓ ✓
F-score — / 9— / 9— / 9
Accruals ratio −12.2%−17.4%−19.5%
Altman Z'' −8.55−4.60−7.91

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Cytokinetics CYTK — 376.6% −695.4% −607.5% — — —
Ligand Pharmaceuticals LGND $6.6B 60.4% 15.3% 18.2% 4.9% 32.3x 5 Compare →
Krystal Biotech KRYS $9.6B 33.9% 41.5% 48.6% 43.6% 39.0x 5 Compare →
ADMA Biologics ADMA $2.5B 19.6% 37.5% 5.5% 39.5% 15.3x 5 Compare →
Repligen RGEN — 16.4% 7.5% 12.7% 2.4% — — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $106M $13.4M $31.5M $26.9M $55.8M $70.4M $94.6M $7.5M $18.5M $88.0M
Research and development $59.9M $90.3M $89.1M $86.1M $97.0M $160M $241M $330M $339M $416M
Operating income $18.7M −$113M −$88.9M −$98.9M −$93.9M −$186M −$324M −$496M −$536M −$612M
Interest expense $2.7M $3.0M $3.8M $6.6M $16.0M $16.4M $19.4M $28.3M $37.7M $45.6M
Pretax income $16.5M −$128M −$106M −$122M −$127M −$215M −$389M −$526M −$590M −$785M
Income tax $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Net income $16.5M −$128M −$106M −$122M −$127M −$215M −$389M −$526M −$590M −$785M
Diluted EPS $0.39 −$2.59 −$1.95 −$2.11 −$1.97 −$2.80 −$4.33 −$5.45 −$5.26 −$6.54
Cash flow
Cash from operations $37.0M −$102M −$101M −$90.9M $8.9M −$143M −$300M −$414M −$396M −$510M
Capital expenditure $1.6M $2.9M $0.9M $2.6M $11.1M $48.9M $11.3M $1.4M $3.9M $24.8M
Free cash flow $35.4M −$105M −$102M −$93.5M −$2.1M −$191M −$311M −$416M −$400M −$535M
Depreciation and amortization $0.7M $1.9M $1.2M $1.3M $1.8M $2.3M $5.8M $11.9M $9.5M $10.1M
Stock-based compensation $7.1M $9.0M $9.8M $10.8M $17.6M $26.8M $47.9M $72.1M $97.8M $112M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Balance sheet
Cash and short-term investments $164M $285M $199M $268M $501M $624M $829M $655M $1.2B $1.2B
Total debt $29.9M $31.8M $42.4M $45.1M $46.2M $47.4M $650M $639M $620M $288M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $1.3M $2.0M $1.1M $0.2M $0.0M
Current assets $159M $274M $208M $234M $474M $536M $795M $628M $1.1B $917M
Current liabilities $33.3M $32.4M $22.2M $26.0M $31.2M $71.9M $84.6M $103M $180M $203M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $3.6M $3.6M $3.2M $4.5M $13.3M $73.3M $80.5M $68.7M $65.8M $79.2M
Total assets $170M $295M $211M $290M $534M $841M $1.0B $824M $1.4B $1.4B
Total liabilities $75.8M $185M $185M $301M $420M $598M $1.1B $1.2B $1.5B $2.1B
Shareholders' equity $94.4M $110M $25.9M −$10.9M $113M $244M −$108M −$386M −$135M −$660M
Margins
Operating margin 17.6% −848.3% −282.3% −368.0% −168.3% −264.5% −342.8% −6,589.7% −2,902.7% −695.4%
EBITDA margin 18.3% −833.9% −278.3% −363.2% −165.0% −261.3% −336.6% −6,431.8% −2,851.1% −683.9%
Net margin 15.5% −955.9% −337.4% −452.9% −228.0% −305.7% −411.2% −6,988.6% −3,191.1% −891.6%
FCF margin 33.3% −782.7% −324.1% −348.1% −3.8% −271.8% −328.6% −5,521.2% −2,164.1% −607.5%
Returns
Return on capital employed 17.0% −56.8% −39.4% −43.7% −24.5% −29.3% −38.2% −60.1% −55.2% −50.1%
Return on equity 20.2% −125.2% −156.6% — −248.5% −120.5% −572.2% — — —
Return on assets 11.5% −55.0% −42.0% −48.6% −30.9% −31.3% −41.9% −57.2% −53.0% −55.6%
Growth
Revenue growth 271.3% −87.4% 135.6% −14.7% 107.8% 26.2% 34.3% −92.0% 145.3% 376.6%
Net income growth — −876.7% — — — — — — — —
EPS growth — −764.1% — — — — — — — —
FCF growth 718.9% −395.7% — — — — — — — —
Financial health
Net debt / EBITDA −6.9x — — — — — — — — —
Debt / equity 0.3x 0.3x 1.6x — 0.4x 0.2x — — — —
Interest coverage 6.9x −37.6x −23.4x −14.9x −5.9x −11.3x −16.7x −17.5x −14.2x −13.4x
Current ratio 4.8x 8.5x 9.4x 9.0x 15.2x 7.5x 9.4x 6.1x 6.2x 4.5x
Quick ratio 4.8x 8.5x 9.4x 9.0x 15.2x 7.5x 9.4x 6.1x 6.2x 4.5x
Capital allocation
Capex / revenue 1.5% 21.5% 2.8% 9.8% 19.8% 69.4% 12.0% 18.8% 21.1% 28.2%
Stock comp / revenue 6.7% 67.5% 31.0% 40.0% 31.6% 38.1% 50.6% 957.0% 529.6% 127.5%
Payouts / FCF 0.0% — — — — — — — — —
Quality scores
Altman Z'' −3.1 −3.7 −8.4 −7.4 −1.5 −2.1 −2.8 −8.6 −4.6 −7.9
Accruals ratio −14.4% −11.2% −2.0% −12.3% −33.1% −10.6% −9.6% −12.2% −17.4% −19.5%

Source: SEC EDGAR XBRL filings (CIK 0001061983). Data updated October 14, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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