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Friday 6 November 2026
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Cytokinetics, Incorporated
CYTK Healthcare Biotechnology
Cytokinetics, Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $88.0 million, up 376.6% from fiscal 2024.
- Revenue
- +2,356.5%
- EPS
- +46.3%
- Free cash flow
- −6.73%
- Total debt
- −83.9%
Quarter to September 2026, against a year earlier
55.63
0.08
+0.14%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 106 | 13 | 32 | 27 | 56 | 70 | 95 | 8 | 18 | 88 | 113 | (2.1%) | 156 | 429 | 898 | +116.9% | |
| Gross margin, % | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 0.00 | 0.0 pt | ||||||
| EBT | 16 | (128) | (106) | (122) | (127) | (215) | (389) | (526) | (590) | (785) | (778) | n/m | ||||||
| EBT margin, % | 15.46 | (955.94) | (337.41) | (452.93) | (228.00) | (305.72) | (411.21) | (6,988.63) | (3,191.11) | (891.60) | (686.63) | (907.1) pt | ||||||
| Net income | 16 | (128) | (106) | (122) | (127) | (215) | (389) | (526) | (590) | (785) | (778) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 2.66 | 0.27 | 0.58 | 0.47 | 0.87 | 0.92 | 1.05 | 0.08 | 0.17 | 0.73 | 0.00 | (13.4%) | |||||
| Earnings | 0.41 | (2.59) | (1.95) | (2.11) | (1.97) | (2.80) | (4.33) | (5.45) | (5.26) | (6.54) | (6.04) | n/m | ||||||
| Cash flow | 0.93 | (2.06) | (1.86) | (1.58) | 0.14 | (1.85) | (3.33) | (4.29) | (3.54) | (4.25) | 0.00 | n/m | ||||||
| Capex | (0.04) | (0.06) | (0.02) | (0.05) | (0.17) | (0.64) | (0.13) | (0.01) | (0.03) | (0.21) | 0.00 | +20.3% | ||||||
| Free cash flow | 0.89 | (2.12) | (1.88) | (1.62) | (0.03) | (2.49) | (3.46) | (4.31) | (3.57) | (4.45) | 0.00 | n/m | ||||||
| Book value | 2.36 | 2.22 | 0.48 | (0.19) | 1.76 | 3.17 | (1.20) | (4.00) | (1.21) | (5.49) | 0.00 | n/m | ||||||
| Shares, m | 40 | 49 | 54 | 58 | 65 | 77 | 90 | 97 | 112 | 120 | 124 | +13.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 32.63 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.3 | |||||
| P/S | 4.65 | 32.34 | 10.92 | 22.74 | 24.02 | 49.76 | 42.12 | 1,078.30 | 285.13 | 86.68 | 64.40 | 163.7 | ||||||
| P/B | 5.25 | 3.94 | 13.26 | 0.00 | 11.83 | 14.37 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.9 | ||||||
| EV/Sales | 3.47 | 15.34 | 5.96 | 19.34 | 18.19 | 45.30 | 40.30 | 1,078.65 | 262.46 | 89.80 | 65.85 | 157.9 | ||||||
| EV/FCF | 10.42 | (1.96) | (1.84) | (5.56) | (481.39) | (16.67) | (12.26) | (19.54) | (12.13) | (14.78) | (12.68) | (55.6) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 37 | (102) | (101) | (91) | 9 | (143) | (300) | (414) | (396) | (510) | (572) | n/m | |||||
| Capex | (2) | (3) | (1) | (3) | (11) | (49) | (11) | (1) | (4) | (25) | (17) | +36.0% | ||||||
| Free cash flow | 35 | (105) | (102) | (94) | (2) | (191) | (311) | (416) | (400) | (535) | (589) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 125 | 242 | 185 | 208 | 443 | 464 | 711 | 525 | 928 | 715 | 834 | +21.3% | |||||
| Net debt | (126) | (237) | (156) | (91) | (325) | (314) | (172) | 3 | (419) | 275 | (956) | n/m | ||||||
| Shareholders’ equity | 94 | 110 | 26 | (11) | 113 | 244 | (108) | (386) | (135) | (660) | (321) | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 11.53 | (54.97) | (42.01) | (48.58) | (30.91) | (31.32) | (41.91) | (57.23) | (52.97) | (55.55) | (47.70) | (67.1) pt | |||||
| ROIC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | 20.19 | (125.16) | (156.57) | (1,622.88) | (248.50) | (120.54) | (572.15) | 212.96 | 226.00 | 197.47 | 184.71 | +177.3 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 127 | 137 | 130 | 156 | 184 | 253 | 409 | 423 | 498 | 673 | — | +20.4% | |||||
| Revenue/emp, $m | 0.84 | 0.10 | 0.24 | 0.17 | 0.30 | 0.28 | 0.23 | 0.02 | 0.04 | 0.13 | — | (18.6%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026
Business profile
Cytokinetics, Incorporated vs peers in Biotechnology (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| MDGL Madrigal Pharmaceuticals, Inc. | $9.3B | — (loss-making) | — (loss-making) | +50.13% (above 0%: growing) | n/m | +53.47% (above 0%: growing) | 91.23% | 12.98% | Compare |
| SYRE Spyre Therapeutics, Inc. | $9.2B | — (loss-making) | — (loss-making) | −100.00% (below 0%: shrinking) | n/m | −108.79% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| KRYS Krystal Biotech, Inc. | $8.9B | 39.2× | 45.7× | +30.21% (above 0%: growing) | −22.26% (below 0%: shrinking) | +137.79% (above 0%: growing) | 94.07% | 55.87% | Compare |
| PTGX Protagonist Therapeutics, Inc. | $8.8B | 111× | 31.2× | +3,749.17% (above 0%: growing) | n/m | +839.65% (above 0%: growing) | 100.00% | 74.37% | Compare |
| ARWR Arrowhead Pharmaceuticals, Inc. | $8.1B | — (loss-making) | — (loss-making) | +171.02% (above 0%: growing) | n/m | −15.43% (below 0%: shrinking) | 100.00% | (226.03%) | Compare |
| TWST Twist Bioscience Corporation | $7.9B | — (loss-making) | — (loss-making) | +23.24% (above 0%: growing) | n/m | −7.23% (below 0%: shrinking) | 52.76% | (30.65%) | Compare |
| CORT Corcept Therapeutics Incorporated | $7.8B | 47.5× | 39.8× | +63.97% (above 0%: growing) | +525.79% (above 0%: growing) | +160.98% (above 0%: growing) | 98.65% | 33.70% | Compare |
| CYTK Cytokinetics, Incorporated | $7.7B | — (loss-making) | — (loss-making) | +2,356.46% (above 0%: growing) | n/m | −6.73% (below 0%: shrinking) | 0.00% | (351.34%) | |
| CAI Caris Life Sciences,�Inc. | $7.4B | 77.7× | 254× | +26.99% (above 0%: growing) | −40.33% (below 0%: shrinking) | −140.21% (below 0%: shrinking) | 0.00% | 7.01% | Compare |
| Median of peers | $8.4B | 62.6× | 42.8× | +40.17% | −22.26% | +23.12% | 92.65% | 10.00% |
From the latest earnings call
- CEO Robert Blum said MYQORZO’s launch continued to exceed Cytokinetics’ expectations, with third-quarter net product revenue up 76% from the prior quarter.
- Chief Commercial Officer Andrew Callos said Cytokinetics expects Europe to account for about 15% of MYQORZO revenue when both Europe and the U.S. are mature.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
115.08%
Held by the ten largest
64.59%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| T. Rowe Price | 20.68m | 14.87% | +1.57m |
| BlackRock | 20.09m | 14.45% | +3.55m |
| Vanguard | 13.97m | 10.05% | +1.62m |
| Wellington Management | 6.93m | 4.99% | −1.08m |
| State Street | 6.49m | 4.67% | +749.04k |
| Fidelity (FMR) | 5.03m | 3.62% | −5.69m |
| Avoro Capital Advisors LLC | 5.00m | 3.60% | +1.67m |
| Bank of America | 4.64m | 3.33% | +1.51m |
| Geode Capital Management | 3.71m | 2.67% | +497.09k |
| Capital Group | 3.25m | 2.34% | +889.45k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 17 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 11.88m | 15.83m | 306.00 |
| 2024 | 14.36m | (1.68m) | 443.00 |
| 2023 | 8.74m | 20.68m | 787.00 |
| 2022 | 8.54m | 8.69m | 432.00 |
| 2021 | 6.41m | 19.86m | 430.00 |
Ownership
Directors and executive officers, together
2.60%
T. Rowe Price Investment Management, Inc.
14.40%
Entities affiliated with BlackRock, Inc.
12.40%
Entities affiliated with Fidelity Investments
10.60%
The Vanguard Group
9.70%
Entities affiliated with Wellington Management Group LLP
5.30%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Cytokinetics, Incorporated (CYTK) Latest News
5 Nov
4 Nov
19 Oct
13 Oct
12 Oct
1 Sep
CYTK metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Cytokinetics is a biopharmaceutical company that discovers, develops and commercializes medicines aimed at changing how muscles work. Its research focuses on cardiovascular and neuromuscular diseases in which muscle performance is impaired. Founded in 1997, the company is headquartered in South San Francisco. Robert I. Blum is its chief executive officer.
Its first commercial medicine is MYQORZO, also known as aficamten. It is an oral treatment for adults with symptomatic obstructive hypertrophic cardiomyopathy, or oHCM, a condition in which thickened heart muscle obstructs blood flow from the heart. MYQORZO inhibits a heart-muscle protein called cardiac myosin, reducing the force of contraction and the obstruction. The medicine became available for prescription in the United States in January 2026 and has also been approved in the European Union and China.