Protagonist Therapeutics Inc (PTGX)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	60,137	26,704	27,448	27,534	118
Property, plant and equipment	US$ in thousands	1,195	1,565	1,798	1,462	1,681
Fixed asset turnover		50.32	17.06	15.27	18.83	0.07

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $60,137K ÷ $1,195K
= 50.32

The fixed asset turnover ratio for Protagonist Therapeutics Inc has shown significant variability over the past five years. In 2019, the ratio was exceptionally low at 0.07, indicating that the company generated only $0.07 in revenue for every dollar invested in fixed assets during that year.

However, there was a notable improvement in the ratio in subsequent years, with a substantial increase to 18.83 in 2020, suggesting a more efficient utilization of fixed assets to generate revenue. This improvement continued in 2021 and 2022, with the ratio reaching 15.27 and 17.06, respectively.

The most recent ratio for 2023 saw a significant surge to 50.32, reflecting a substantial increase in revenue generated per dollar of fixed assets invested. This sharp increase may indicate that the company has either increased its revenue significantly or efficiently managed its fixed assets to enhance productivity.

Overall, the trend in Protagonist Therapeutics Inc's fixed asset turnover ratio indicates improvements in asset efficiency and productivity over the past five years, culminating in a significant surge in 2023.