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Cytokinetics CYTK Royalty — Fair Value Of Royalty

Discontinued — last reported Q3 '20

Similar metrics at other companies

Incyte logo
INCYRoyalty-bearing product other than GITR, OX40 and one undisclosed target — Royalty payments on future global net sales (as a percent)
12%
Vicor logo
VICRRoyalty — Revenue
$14.97M+39.1%
BridgeBio Pharma logo
BBIORoyalty Revenue — Revenue
$1.62M
Axsome Therapeutics logo
AXSMRoyalty — Revenue
$4.07M+269%
Ionis Pharmaceuticals logo
IONSRoyalty — Revenue
$58.32M-9.1%
Vicor logo
VICRRoyalties — Revenue
$14.97M+39.1%

Other financials

Income statement

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Revenue$19.4M+1,126%
Operating income-$183.6M-18.0%
Net income-$206.0M-27.7%
EPS (diluted)-$1.67-22.8%

Balance sheet

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Cash & equivalents$129.8M+76.2%
Total debt$418.2M+75.8%
Total equity-$826.6M-210%
Total assets$1.3B+0.7%

Cash flow

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Operating cash flow-$145.5M-10.5%
CapEx$5.9M+4.7%
Free cash flow-$151.4M-10.3%

Valuation

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Market cap$10.7B+70.6%
Enterprise value$10.98B+70.7%
P/S101.1×-225×

Profitability

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Operating margin-605.1%-268pp
Net margin-784%-337pp
FCF margin-518.8%-223pp

Returns & leverage

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Return on equity-337.6%
Debt / equity2.2×
Current ratio4.2×-1.8×

Where this comes from

Reported directly by Cytokinetics in its filing.

Tagged under the XBRL concept cytk:FairValueOfRoyalty.

The official record: Cytokinetics’s 10-K, filed March 1, 2023, on SEC EDGAR. View the filing →

Questions, answered.

What does royalty — fair value of royalty mean?
The estimated current worth of all future royalty payments the company expects to receive from its licensed technology.
How do you interpret royalty — fair value of royalty?
An increase suggests higher expected future cash flows from licensed products or improved market performance of those products, while a decrease may indicate lower sales projections or increased risk in the underlying royalty agreements.
How does royalty — fair value of royalty compare across companies?
Comparable to the valuation of intangible assets or royalty-based revenue streams found in other biotechnology and pharmaceutical companies with significant out-licensing activities.