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Forensic Analysis · Industrial & Scientific Instruments · as of Nov 9, 2026

Cytek Biosciences, Inc. (CTKB)

A forensic read on Cytek Biosciences, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution
Forensic grade
Safe
Financial health
6.2
Distress distance
Clean
Earnings quality
2
Forensic signals
-18.0%
ROE
0.5%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Cytek Biosciences, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 6.2, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-10.2%
FY2025
Return on invested capital. Return on invested capital is -10.2% in the latest fiscal year, against -8.1% in FY2023, having run between -10.2% and -5.4% across FY2023–FY2025 with no direction held. After-tax operating profit was ($22M) in FY2023 and ($32M) in FY2025, with operating income at -14.4% of revenue in FY2023, -10.2% in FY2024 and -20.0% in FY2025. The capital base behind it grew +16% across FY2023–FY2025, from $271M to $313M, while the return fell 2.1 points, so the dollars added over that window earned less than the -8.1% the older base was already earning.
FCF ($9M)
FY2025
Shareholder returns. Returned $15M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($9M) after capex — there was no free cash flow to fund the payout from at all, and operating cash flow itself was negative or zero that year too. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.

Key fundamentals

Latest Revenue$201.5M
Revenue Growth YoY+0.5%
Revenue CAGR (2yr)+2.2%
Net Margin-33.0%
Free Cash Flow-$8.8M
Return on Equity-18.0%
Debt / Equity0.00x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.