Protagonist Therapeutics Inc (PTGX)

Payables turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	39,796	33,491	32,071	31,310	29,829	31,739	32,367	32,722	31,746	27,196	24,930	22,565	20,027	18,638	17,751	16,875	16,561	15,749	15,159	14,505
Payables	US$ in thousands	3,507	772	1,252	4,573	4,021	3,640	4,715	1,412	7,159	1,600	706	7,905	2,732	3,075	2,797	2,855	3,704	2,790	1,583	2,787
Payables turnover		11.35	43.38	25.62	6.85	7.42	8.72	6.86	23.17	4.43	17.00	35.31	2.85	7.33	6.06	6.35	5.91	4.47	5.64	9.58	5.20

March 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $39,796K ÷ $3,507K
= 11.35

Protagonist Therapeutics Inc's payables turnover ratio fluctuated over the past few quarters. The payables turnover ratio ranged from a low of 2.85 to a high of 43.38 during this period. A high payables turnover ratio indicates that the company is effectively managing its accounts payable by paying its suppliers quickly. Conversely, a low ratio may suggest that the company is taking longer to pay its suppliers.

The significant variation in the payables turnover ratio over the quarters may indicate changes in the company's payment policies or the timing of supplier payments. It is essential to analyze the reasons behind these fluctuations to understand the company's liquidity position and its relationships with suppliers. Additionally, comparing the payables turnover ratio with industry benchmarks can provide further insights into Protagonist Therapeutics Inc's financial performance and efficiency in managing its payables.