Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026

Cytokinetics Inc (CYTK)

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

F · Poor — capital at risk

Forensic grade

Distress

Financial health

-2.2

Distress distance

Clean

Earnings quality

Forensic signals

-10.6

P / E (ttm)

$10.7B

Market cap

0.00%

Dividend yield

376.6%

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 (red flags, auditor quality, say on pay, board independence). 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.

Cytokinetics Inc earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -2.2, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by share-count dilution.

What the filings flag

+10.2%/yr

FY2022–FY2025

Share-count dilution. Diluted share count changed +34% over the last 3 years to FY2025 (+10.2%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. Note: the share count shows a large one-time jump around FY2014, consistent with a reverse split or bankruptcy reorg rather than gradual buybacks, so the earlier shrinkage doesn't reflect real repurchase discipline. That's ~10.2% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~25%.

128% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 128% of revenue in FY2025. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 10.2% a year and is falling.

Key fundamentals

Latest Revenue$88.0M

Revenue Growth YoY+376.6%

Revenue CAGR (3yr)-2.4%

Net Margin-891.6%

Free Cash Flow-$534.8M

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.