Cytek Biosciences, Inc. (CTKB) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-81.9%

$1.05

vs $5.77 price

Levered DCF

$0.21

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

4.15

Safe zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-9.71×	-141.09×	-101.56×	531.77×	494.55×	775.21×	-144.31×
P/B	1.89×	2.14×	3.14×	3.23×	5.39×	-155.66×	-59.83×
P/S	3.2×	4.23×	6.39×	8.37×	17.06×	26.87×	43.1×
EV / EBITDA	-33.23×	159.91×	-245.15×	115.34×	203.81×	151.8×	-154.21×
Gross margin	51.8%	55.4%	56.7%	61.6%	61.9%	55.7%	49.5%
Operating margin	-20.0%	-10.2%	-14.4%	-1.1%	7.2%	14.7%	-29.8%
Net margin	-33.0%	-3.0%	-6.3%	1.6%	2.3%	20.9%	-29.1%
Current ratio	5.04×	5.86×	6.97×	9.26×	13.01×	7.86×	3.22×
Debt / equity	0.07×	0.04×	0.04×	0.04×	0×	-0.17×	0×
Interest coverage	-85.2×	0×	-13.45×	-0.7×	5.26×	41.02×	-17,256×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-19.5%	-1.5%	-3.1%	0.6%	0.7%	-121.1%	40.4%
Return on invested capital	-10.3%	-4.7%	-4.9%	-0.4%	1.1%	7.0%	-35.0%
Return on assets	-14.4%	-1.2%	-2.5%	0.5%	0.6%	8.8%	-23.9%
Free cash flow yield	-1.4%	2.6%	0.0%	-1.6%	0.0%	0.5%	-0.6%
Earnings yield	-10.3%	-0.7%	-1.0%	0.2%	0.1%	0.8%	-0.7%
Enterprise value	$578M	$766M	$1.1B	$1.1B	$1.8B	$2.3B	$2.5B
Net debt / EBITDA	3.86×	-17.06×	34.75×	-29.34×	-40.87×	-10.57×	1.88×
Cash conversion cycle (days)	289	267	359	364	302	249	313