(CTKB) Cytek Biosciences - Overview
Sector: Healthcare | Industry: Medical Devices | Exchange: NASDAQ (USA) | Market Cap: 440m USD | Total Return: 65.7% in 12m
Avg Turnover: 3.62M
Qual. Beats: 0
Rev. Trend: 72.5%
Qual. Beats: 0
Warnings
High Debt/EBITDA (8.9) with thin interest coverage (-18.7)
High Debt while negative Cash Flow
Interest Coverage Ratio -18.7 is critical
Choppy
Tailwinds
No distinct edge detected
Cytek Biosciences, Inc. (CTKB) designs and manufactures cell analysis tools utilized in biomedical research and clinical diagnostics. The company’s core portfolio includes the Aurora and Northern Lights flow cytometry systems, which leverage Full Spectrum Profiling (FSP) technology to detect fluorescent signatures across the entire light spectrum. This technical approach allows for higher multiplexing capabilities compared to traditional flow cytometry, enabling researchers to analyze more parameters per cell.
The business model follows a razor and blade strategy, where the placement of capital equipment-such as the Aurora CS cell sorter and Amnis imaging flow cytometers-drives recurring revenue through proprietary cFluor reagents, kits, and software subscriptions. Cytek serves a global client base including pharmaceutical firms, contract research organizations (CROs), and academic institutions across North America, Europe, and Asia.
The health care equipment sector is currently characterized by a shift toward high-parameter analysis to support personalized medicine and immunotherapy development. For a deeper look into the companys competitive positioning, consider reviewing the detailed metrics available on ValueRay. Founded in 1992 and headquartered in Fremont, California, Cytek expanded its market footprint through the acquisition of the Amnis and Guava product lines, further diversifying its instrumentation and service offerings.
- Adoption of Full Spectrum Profiling technology drives global instrumentation revenue
- Recurring reagent and service revenue growth improves long-term gross margins
- Academic and biotech budget constraints impact capital equipment purchasing cycles
- Expansion into clinical diagnostic markets requires successful regulatory clearance pathways
- Strategic integration of acquired Amnis and Guava product lines enhances market share
| Net Income: -74.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -6.46 > 1.0 |
| NWC/Revenue: 146.1% < 20% (prev 158.7%; Δ -12.61% < -1%) |
| CFO/TA -0.02 > 3% & CFO -7.30m > Net Income -74.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 4.69 > 1.5 & < 3 |
| Outstanding Shares: last quarter (128.7m) vs 12m ago 0.29% < -2% |
| Gross Margin: 51.70% > 18% (prev 0.55%; Δ 5.12k% > 0.5%) |
| Asset Turnover: 43.83% > 50% (prev 40.83%; Δ 3.00% > 0%) |
| Interest Coverage Ratio: -18.68 > 6 (EBITDA TTM -23.5m / Interest Expense TTM 1.90m) |
| A: 0.66 (Total Current Assets 379.3m - Total Current Liabilities 80.9m) / Total Assets 449.1m |
| B: -0.27 (Retained Earnings -120.6m / Total Assets 449.1m) |
| C: -0.08 (EBIT TTM -35.4m / Avg Total Assets 465.9m) |
| D: -0.97 (Book Value of Equity -118.1m / Total Liabilities 121.5m) |
| Altman-Z'' = 1.95 = BBB |
| DSRI: 0.99 (Receivables 56.5m/55.2m, Revenue 204.2m/197.1m) |
| GMI: 1.06 (GM 51.70% / 54.94%) |
| AQI: 0.56 (AQ_t 0.09 / AQ_t-1 0.15) |
| SGI: 1.04 (Revenue 204.2m / 197.1m) |
| TATA: -0.15 (NI -74.0m - CFO -7.30m) / TA 449.1m) |
| Beneish M = -3.37 (Cap -4..+1) = AA |
As of May 24, 2026, the stock is trading at USD 3.96 with a total of 723,805 shares traded.
Over the past week, the price has changed by +17.77%,
over one month by -5.87%,
over three months by -8.66% and
over the past year by +65.70%.
Cytek Biosciences has received a consensus analysts rating of 3.33. Therefore, it is recommended to hold CTKB.
- StrongBuy: 1
- Buy: 1
- Hold: 3
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 5.7 | 43.7% |
P/S = 2.1537
P/B = 1.8171
Revenue TTM = 204.2m USD
EBIT TTM = -35.4m USD
EBITDA TTM = -23.5m USD
Long Term Debt = 525k USD (from longTermDebt, last fiscal year)
Short Term Debt = 15.9m USD (from shortTermDebt, last quarter)
Debt = 53.2m USD (from shortLongTermDebtTotal, last quarter) + Leases 16.9m
Net Debt = -209.0m USD (calculated: Debt 53.2m - CCE 262.2m)
Enterprise Value = 230.8m USD (439.7m + Debt 53.2m - CCE 262.2m)
Interest Coverage Ratio = -18.68 (Ebit TTM -35.4m / Interest Expense TTM 1.90m)
EV/FCF = -18.17x (Enterprise Value 230.8m / FCF TTM -12.7m)
FCF Yield = -5.50% (FCF TTM -12.7m / Enterprise Value 230.8m)
FCF Margin = -6.22% (FCF TTM -12.7m / Revenue TTM 204.2m)
Net Margin = -36.25% (Net Income TTM -74.0m / Revenue TTM 204.2m)
Gross Margin = 51.70% ((Revenue TTM 204.2m - Cost of Revenue TTM 98.6m) / Revenue TTM)
Gross Margin QoQ = 48.16% (prev 52.92%)
Tobins Q-Ratio = 0.51 (Enterprise Value 230.8m / Total Assets 449.1m)
Interest Expense / Debt = 3.56% (Interest Expense 1.90m / Debt 53.2m)
Taxrate = 21.0% (US default 21%)
NOPAT = -28.0m (EBIT -35.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.69 (Total Current Assets 379.3m / Total Current Liabilities 80.9m)
Debt / Equity = 0.16 (Debt 53.2m / totalStockholderEquity, last quarter 327.6m)
Debt / EBITDA = 8.89 (negative EBITDA) (Net Debt -209.0m / EBITDA -23.5m)
Debt / FCF = 16.46 (negative FCF - burning cash) (Net Debt -209.0m / FCF TTM -12.7m)
Total Stockholder Equity = 356.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -15.89% (Net Income -74.0m / Total Assets 449.1m)
RoE = -15.51% (Net Income TTM -74.0m / Total Stockholder Equity 477.0m)
RoCE = -7.41% (EBIT -35.4m / Capital Employed (Equity 477.0m + L.T.Debt 525k))
RoIC = -7.28% (negative operating profit) (NOPAT -28.0m / Invested Capital 384.0m)
WACC = 9.68% (E(439.7m)/V(493.0m) * Re(10.51%) + D(53.2m)/V(493.0m) * Rd(3.56%) * (1-Tc(0.21)))
Discount Rate = 10.51% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -42.22 | Cagr: -0.69%
[DCF] Fair Price = unknown (Cash Flow -12.7m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.22 | # QB: 0
Revenue Correlation: 72.48 | Revenue CAGR: 3.59% | SUE: -0.07 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.01 | Chg30d=+75.00% | Revisions=-20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.01 | Chg30d=N/A | Revisions=-20% | Analysts=1
EPS current Year (2026-12-31): EPS=-0.04 | Chg30d=+52.94% | Revisions=N/A | GrowthEPS=+87.2% | GrowthRev=+3.6%
EPS next Year (2027-12-31): EPS=0.19 | Chg30d=+322.22% | Revisions=-20% | GrowthEPS=+575.0% | GrowthRev=+6.6%