Cytokinetics Inc.

Pharmaceutical Preparations

CYTKStrained3 of 9 basics passed

$62.91

+1.45%

Market cap $8.75B

$62.91

+1.45%

Market cap $8.75B

Cytokinetics Inc is a late-stage biopharmaceutical company focused on discovering, developing, and commercializing first-in-class muscle activators and next-in-class muscle inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining.

It is a $8.75B healthcare company. Revenue shrank 21.1% over the last year, it currently loses money, and it holds more cash than debt.

Website: cytokinetics.com
Location: South San Francisco, CA
Employees: 673
Sector: Healthcare
Founded: 1997

Share price · 3 years

$34.87 → $62.91+80.4%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $67.7M
Loss: spends more than it earns; -$894M
Free cash flow: cash left after running the business; -$581M
Net cash: more cash than debt; $636M
Shares: down 100% since 2016 — buybacks; 120,103
Volatility: beta vs the market — under 1 swings less; 0.41

Revenue, last 10 years

52-week range

Low $54.76$62.91High $87.26

Today's price is 25% of the way from the year's low to its high.

Valuation vs own history

P/S

129.2×

P/B

0.1×

79%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Insider activity · 90 days

-$7.81Mnet selling

Purchases$0

Sales$7.81M

Insiders trading, last 14d0 buy · 2 sell

Standing in Healthcare

Size$8.75Btop 97%
Revenue growth-2%top 88%
Net margin-1321%top 97%
Return on equity-131%top 95%

Ranked against 98 Healthcare companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Valuation, Growth, Profitability, Quality and Moat lag behind.

Valuation10

P/E vs own historyn/a · 10/25
FCF yield-6.6% · 0/25
P/S129.2x · 0/25
EV/EBITDA1148.7x · 0/25

Growth12

Revenue CAGR5.7% · 12/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growthn/a · 0/25

Profitability0

ROICn/a · 0/25
ROE-131.2% · 0/25
Net margin-1321.3% · 0/25
Operating margin-1225.3% · 0/25

Health50

Altman Zn/a · 0/25
Current ratio6.66 · 25/25
Interest coverage-14.3x · 0/25
Net cash / debtNet cash · 25/25

Quality11

Piotroski F2/9 · 5/25
Beneish M-0.83 · 6/25
FCF conversionn/a · 0/25
Margin stabilityσ 5738.0% · 0/25

Moat0

ROIC >12% yearsn/a · 0/25
Median gross marginn/a · 0/25
FCF-positive years1/10 yrs · 0/25
Worst-year net marginworst -6988.6% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2024Financial
Became debt-free
cash now exceeds total debt
FY2016Financial
First recorded profitable year
$16.5M net income
FY2016Financial
Best year on record
$16.5M net income
2006Acquisition
Amgen purchased an option on omecamtiv mecarbil in 2006, and the two companies extended their partnership several times
2004IPO
The company completed its initial public offering (IPO)
1997Founded
Cytokinetics was founded in 1997 by James Spudich, Ronald Vale, James Sabry and Lawrence S.B

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$18 718 today — price return only

$88.0M revenue in FY2025

673 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Net cash position after subtracting debt from cash

Watch-outs

Revenue shrinking 21.1% year over year
Not profitable — 1321.3% net margin
Negative free cash flow (-$580.7M)
Thin interest coverage (-14.3×)
Loss-making in 9 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

3 of 9 checks passed

Revenue growing — the company sells more than a year ago-21.1% YoY
Profitable — makes more than it spends-$894M TTM
Profit growing — earnings are higher than last year-33.2% YoY
Generates cash — cash left after running and investing-$581M TTM
Debt under control — could handle its obligationsmore cash than debt
Established company — not a micro-cap — lower blow-up risk$8.75B market cap
Not printing shares — share count not ballooning — you keep your slice-99.7% shares over ~5y
Proven track record — years of profitability behind it1/10 profitable years
Financially stable — balance sheet not near distresshealth score 25/100
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsno data

Peer comparisonCytokinetics Inc. vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
CYTK this company	$8.8B	—	-21.1%	-1321.3%	Strained
LLY Eli Lilly & Co.	$1.0T	41.6	+49.6%	33.5%	Solid
JNJ Johnson & Johnson	$630.9B	29.9	+8.1%	21.5%	Mixed
ABBV Abbvie Inc.	$488.5B	77.4	+10.4%	9.8%	Mixed
MRK Merck & Co., Inc.	$361.0B	113.2	+4.6%	4.8%	Mixed
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware)	$340.7B	24.1	+6.5%	3.1%	Mixed
NVS Novartis AG	$273.2B	20.3	+9.6%	24.7%	Solid

Head-to-head: CYTK vs LLY · CYTK vs JNJ · CYTK vs ABBV

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 6Buy 19Hold 3

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $67.7M · net income -$894M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

RevenueNet income

Revenue (TTM)

$67.7M

YoY -21.1%

Net income (TTM)

-$894M

Margin -1321.3%

Operating margin

-1225.3%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	0.1	0.1	0.1	0.0	0.0	0.1
Gross profit	—	—	—	-0.3	—	—
Operating income (EBIT)	-0.1	-0.2	-0.3	-0.5	-0.5	-0.6
Net income	-0.1	-0.2	-0.4	-0.5	-0.6	-0.8
EPS (diluted)	—	—	-4330.64	-5177.63	-5264.38	-6536.06

Cash flowFree cash flow -$581M · operating cash flow -$555M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

-$581M

Margin -858.1%

Operating cash flow (TTM)

-$555M

FCF margin

-200.0%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.0	-0.1	-0.3	-0.4	-0.4	-0.5
Capital expenditure	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0
Free cash flow	-0.0	-0.2	-0.3	-0.4	-0.4	-0.5
FCF margin	-3.9%	-271.7%	-328.6%	-5521.2%	-2164.2%	-607.5%

Balance sheetAssets $1.42B · net cash $636M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $1.42B of assets is financed

146%

Liabilities $2.08B — borrowed moneyEquity -$660M — owners' stake

Cash vs debt

Total debt $246M − cash $882M = net cash $636M

Cash on hand covers all debt.

Debt repayment

Not needed

Cash already covers all debt

Interest coverage

-14.3x

EBIT ÷ interest expense

ROE

-131.2%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.5	0.5	0.8	0.6	1.1	0.9
Total assets	0.5	0.8	1.0	0.8	1.4	1.4
Total liabilities	0.4	0.6	1.1	1.2	1.5	2.1
Total debt	0.0	0.0	0.1	0.8	0.1	0.2
Equity	0.1	0.2	-0.1	-0.4	-0.1	-0.7
Net debt	-0.4	-0.4	-0.7	0.1	-1.0	-0.6

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of CYTK on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $62.91 · market cap $8.75B.