Protagonist Therapeutics Inc (PTGX)
Activity ratios
Short-term
Turnover ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | — | — | — | — | — | — | — | — | 4.11 | 3.20 | — | — | — | 4.69 | 1,775.10 | 1,687.50 | 1,656.10 | 3.28 | 1,515.90 | 1,450.50 |
| Receivables turnover | — | — | — | 2.46 | 19.25 | 6.93 | 56.81 | 13.53 | 1.65 | 5.13 | 5.40 | 2.75 | 5.34 | 7.47 | 7.73 | 3.85 | 1.71 | 0.58 | 1.87 | 1.59 |
| 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 |
| Working capital turnover | 0.54 | 0.18 | 0.00 | 0.00 | 0.00 | 0.13 | 0.15 | 0.17 | 0.16 | 0.09 | 0.08 | 0.08 | 0.12 | 0.10 | 0.16 | 0.07 | 0.07 | 0.04 | 0.03 | 0.10 |
The activity ratios of Protagonist Therapeutics Inc provide insights into its operational efficiency and management of working capital.
1. Inventory Turnover: The company's inventory turnover has varied over the period, with a noticeable increase from 1,515.90 in March 2020 to 1,775.10 in September 2020, indicating an improvement in managing inventory levels efficiently. However, the data is not available for all periods.
2. Receivables Turnover: Protagonist Therapeutics Inc's receivables turnover has fluctuated significantly, suggesting varying collection efficiency. The higher turnover ratios in some periods, such as 56.81 in September 2022 and 19.25 in December 2023, indicate a quicker conversion of receivables into cash.
3. Payables Turnover: The payables turnover ratio has also shown fluctuations, with a noticeable drop from 43.38 in December 2023 to 11.35 in March 2024. This suggests changes in the company's payment terms with suppliers.
4. Working Capital Turnover: The working capital turnover ratios have been generally low across the periods, indicating that the company is not generating significant revenue relative to the level of working capital employed. It is crucial for Protagonist Therapeutics Inc to improve this ratio to enhance its operational efficiency.
Overall, Protagonist Therapeutics Inc should focus on maintaining stable inventory levels, improving receivables collection efficiency, managing payables effectively, and optimizing the utilization of working capital to enhance its overall operational performance.
Average number of days
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | — | — | — | — | — | — | 88.86 | 114.12 | — | — | — | 77.86 | 0.21 | 0.22 | 0.22 | 111.13 | 0.24 | 0.25 |
| Days of sales outstanding (DSO) | days | — | — | — | 148.37 | 18.96 | 52.65 | 6.43 | 26.97 | 221.77 | 71.09 | 67.64 | 132.54 | 68.31 | 48.85 | 47.25 | 94.78 | 213.43 | 633.45 | 195.47 | 229.15 |
| Number of days of payables | days | 32.17 | 8.41 | 14.25 | 53.31 | 49.20 | 41.86 | 53.17 | 15.75 | 82.31 | 21.47 | 10.34 | 127.87 | 49.79 | 60.22 | 57.51 | 61.75 | 81.64 | 64.66 | 38.12 | 70.13 |
Protagonist Therapeutics Inc's activity ratios provide insights into the efficiency of the company's management of its assets and liabilities.
Days of inventory on hand (DOH) indicates how efficiently the company manages its inventory levels. The trend shows inconsistency in managing inventory with fluctuations ranging from almost zero days to over a hundred days in recent quarters. There seems to be room for improvement in inventory management to achieve a more stable and efficient level.
Days of sales outstanding (DSO) measures the average number of days it takes for the company to collect revenue after a sale is made. The trend indicates that the company has been able to reduce its DSO over time, reflecting improved efficiency in collecting payments from customers.
Number of days of payables reflects the average number of days the company takes to pay its suppliers. The trend shows variability in the payment period, ranging from as low as 8 days to over 80 days. This suggests that Protagonist Therapeutics manages its payables flexibly, but maintaining consistency in payment terms could improve supplier relationships and cash flow management.
Overall, Protagonist Therapeutics Inc can focus on streamlining its inventory management, maintaining the positive trend in reducing DSO, and possibly establishing a more consistent approach in managing payables to enhance operational efficiency and financial performance.
Long-term
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 283.61 | 50.32 | 0.09 | 0.10 | 0.73 | 17.06 | 19.75 | 23.19 | 22.73 | 15.23 | 14.12 | 15.80 | 21.71 | 19.53 | 17.60 | 8.12 | 4.00 | 2.57 | 2.28 | 5.94 |
| Total asset turnover | 0.50 | 0.17 | 0.00 | 0.00 | 0.00 | 0.11 | 0.12 | 0.15 | 0.13 | 0.08 | 0.07 | 0.07 | 0.10 | 0.09 | 0.12 | 0.06 | 0.05 | 0.03 | 0.03 | 0.07 |
Protagonist Therapeutics Inc's long-term activity ratios, specifically the fixed asset turnover and total asset turnover, provide insights into the company's efficiency in utilizing its assets to generate revenue.
1. Fixed Asset Turnover: This ratio measures how efficiently the company is using its fixed assets to generate sales. The trend over the periods shows significant fluctuations, ranging from as high as 283.61 to as low as 0.09. The company experienced a sharp increase in fixed asset turnover from Mar 31, 2024, reflecting a substantial improvement in its ability to generate sales relative to its investment in fixed assets. However, prior to that, there were periods of relatively low turnover, indicating inefficiencies in asset utilization.
2. Total Asset Turnover: This ratio indicates the company's overall efficiency in generating sales from all its assets. Protagonist Therapeutics Inc's total asset turnover also fluctuated over the periods, ranging from 0.00 to 0.50. The company seems to have made improvements in asset utilization, as the ratio reached 0.50 by Mar 31, 2024, showing that it generated $0.50 in revenue for every dollar invested in total assets.
In summary, the analysis of Protagonist Therapeutics Inc's long-term activity ratios suggests that the company has made progress in improving its efficiency in utilizing both fixed and total assets to generate sales. However, fluctuations in these ratios over time indicate ongoing efforts may be needed to sustain and further enhance operational efficiency.