Protagonist Therapeutics Inc (PTGX)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	33,491	31,739	27,196	18,638	15,749
Payables	US$ in thousands	772	3,640	1,600	3,075	2,790
Payables turnover		43.38	8.72	17.00	6.06	5.64

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $33,491K ÷ $772K
= 43.38

Protagonist Therapeutics Inc's payables turnover has shown a significant improvement over the past five years. The ratio has increased steadily from 5.64 in 2019 to 43.38 in 2023. This indicates that the company has been able to efficiently manage its accounts payables by paying its suppliers more frequently compared to previous years.

The significant increase in payables turnover suggests that Protagonist Therapeutics Inc is now paying off its suppliers at a much faster rate, which could reflect improved liquidity and cash management practices. A higher payables turnover ratio may also indicate better supplier relationships and potentially improved negotiation power with suppliers.

Overall, the trend of increasing payables turnover for Protagonist Therapeutics Inc indicates a positive development in the company's ability to manage its accounts payables effectively and efficiently over the years.