The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. Cytek Biosciences's current ratio for the quarter that ended in Mar. 2024 was 6.99.
Cytek Biosciences has a current ratio of 6.99. It indicates the company may not be efficiently using its current assets or its short-term financing facilities. This may also indicate problems in working capital management.
The historical rank and industry rank for Cytek Biosciences's Current Ratio or its related term are showing as below:
CTKB'
s Current Ratio Range Over the Past 10 Years
Min: 3.22 Med: 7.86 Max: 14.65
Current: 6.99
During the past 5 years, Cytek Biosciences's highest Current Ratio was 14.65. The lowest was 3.22. And the median was 7.86.
CTKB's Current Ratio is ranked better than 82.22% of 866
companies
in the Medical Devices & Instruments industry
Industry Median: 2.715
vs CTKB: 6.99
Cytek Biosciences Current Ratio Historical Data
The historical data trend for Cytek Biosciences's Current Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Cytek Biosciences's Current Ratio
For the Medical Devices subindustry, Cytek Biosciences's Current Ratio, along with its competitors' market caps and Current Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Cytek Biosciences's Current Ratio Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Cytek Biosciences's Current Ratio distribution charts can be found below:
* The bar in red indicates where Cytek Biosciences's Current Ratio falls into.
Cytek Biosciences Current Ratio Calculation
The current ratio is mainly used to give an idea of the company's ability to pay back its short-term liabilities with its short-term assets.
Cytek Biosciences's Current Ratio for the fiscal year that ended in Dec. 2023 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Cytek Biosciences (NAS:CTKB) Current Ratio Explanation
The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.
Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.
The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.
If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.
Cytek Biosciences Current Ratio Related Terms
Thank you for viewing the detailed overview of Cytek Biosciences's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Cytek Biosciences (Cytek Biosciences) Business Description
Cytek Biosciences Inc is a cell analysis solutions company advancing the next generation of cell analysis tools by leveraging novel technical approaches. Its core instruments, the Aurora and Northern Lights systems, are the first full-spectrum flow cytometers able to deliver high-resolution, high-content, and high-sensitivity cell analysis by utilizing the full spectrum of fluorescence signatures from multiple lasers to distinguish fluorescent tags on single cells. Its FSP platform addresses the inherent limitations of other technologies by providing a higher density of information with greater sensitivity, more flexibility, and increased efficiency, all at a lower cost for performance.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
CTKB has been successfully added to your 