Protagonist Therapeutics Inc (PTGX)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Inventory turnover | — | — | 3.20 | 4.69 | 3.28 |
| Receivables turnover | — | 6.93 | 5.15 | 7.21 | 0.02 |
| Payables turnover | 43.38 | 8.72 | 17.00 | 6.06 | 5.64 |
| Working capital turnover | 0.18 | 0.13 | 0.09 | 0.10 | 0.00 |
Protagonist Therapeutics Inc's activity ratios provide insights into the efficiency of the company's operations in managing inventory, receivables, payables, and working capital.
1. Inventory turnover:
- The inventory turnover ratio shows the number of times inventory is sold and replaced in a given period.
- Protagonist's inventory turnover was not available for the latest two years, but in 2021 it was 3.20, indicating that the company turned over its inventory approximately 3.20 times during that year.
2. Receivables turnover:
- The receivables turnover ratio measures how many times a company collects its accounts receivable during a period.
- Protagonist's receivables turnover fluctuated over the years, with a significant increase in 2022 to 6.93, indicating that the company collected its receivables almost 7 times during that year.
3. Payables turnover:
- The payables turnover ratio reflects how quickly a company pays its suppliers.
- Protagonist's payables turnover increased significantly in 2023 to 43.38, indicating that the company paid its payables over 43 times during that year, which could be due to changes in payment terms or the company's purchasing strategy.
4. Working capital turnover:
- The working capital turnover ratio evaluates how efficiently a company generates revenue from its working capital.
- Protagonist's working capital turnover has been relatively stable and low over the years, indicating that the company generates revenue at a low rate relative to its working capital.
Overall, Protagonist Therapeutics Inc's activity ratios suggest improvements in managing receivables and payables turnover, although more consistency in inventory turnover and working capital turnover could be beneficial for enhancing the company's operational efficiency.
Average number of days
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | 114.12 | 77.86 | 111.13 |
| Days of sales outstanding (DSO) | days | — | 52.65 | 70.92 | 50.65 | 23,196.06 |
| Number of days of payables | days | 8.41 | 41.86 | 21.47 | 60.22 | 64.66 |
Days of inventory on hand (DOH) for Protagonist Therapeutics Inc have shown some fluctuations over the years, with significant peaks observed in 2021 and 2019. This indicates that the company may have faced challenges in managing its inventory effectively during those periods. However, the latest data for 2023 is missing, making it difficult to assess the current inventory management situation.
Days of sales outstanding (DSO) have also varied over the years, with a dramatic surge in 2019, suggesting possible issues with collecting receivables efficiently during that year. The DSO improved in subsequent years, reaching a relatively normal level by 2022. The absence of data for 2023 makes it challenging to determine the current trend.
The number of days of payables for Protagonist Therapeutics Inc has shown fluctuations over the years, with a notable decrease in 2023 compared to the previous year. This indicates that the company has been able to negotiate more favorable credit terms with its suppliers, allowing it to extend its payment period. However, the payables days are still relatively low compared to previous years, which could potentially impact cash flow management.
In conclusion, Protagonist Therapeutics Inc's activity ratios reflect some variability in inventory management, receivables collection, and payables negotiations over the years. Further analysis would be needed to understand the underlying reasons behind these fluctuations and to assess the current efficiency of the company's operating cycle.
Long-term
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Fixed asset turnover | 50.32 | 17.06 | 15.27 | 18.83 | 0.07 |
| Total asset turnover | 0.17 | 0.11 | 0.08 | 0.08 | 0.00 |
Protagonist Therapeutics Inc's long-term activity ratios indicate how efficiently the company is utilizing its assets to generate sales.
The fixed asset turnover has shown a positive trend over the years, increasing from 0.07 in 2019 to 50.32 in 2023. This suggests that the company has significantly improved its efficiency in generating sales from its fixed assets. A higher fixed asset turnover ratio indicates that Protagonist Therapeutics is utilizing its property, plant, and equipment more effectively to generate revenue.
On the other hand, the total asset turnover ratio has also shown improvement, albeit at a slower pace compared to the fixed asset turnover. The total asset turnover ratio increased from 0.00 in 2019 to 0.17 in 2023. This indicates that the company is becoming more efficient in generating sales relative to its total assets.
Overall, the upward trends in both fixed asset turnover and total asset turnover ratios suggest that Protagonist Therapeutics Inc has been successful in increasing its operational efficiency and utilizing its assets more effectively to drive revenue growth.