Protagonist Therapeutics Inc (PTGX)

Short-term

Turnover ratios

Protagonist Therapeutics Inc's Inventory turnover ratio has shown significant fluctuations over the years. It started at a very high level of 277.40 in March 2020, but then dropped to 0.00 in the subsequent periods up to December 2021. There was a slight improvement in December 2021 with a ratio of 0.10, and a further increase to 0.21 in March 2022. However, the ratio was not available for the periods beyond March 2022.

The Receivables turnover ratio, indicating how efficiently the company collects outstanding payments from its customers, remained unreported and consistent at "—," suggesting that data regarding this ratio was not disclosed for the periods provided.

Likewise, the Payables turnover ratio, which reflects how quickly a company pays its suppliers, was not disclosed and remained constant at "—," implying a lack of information on this metric for the specified periods.

The Working capital turnover ratio, which measures how effectively the company utilizes its working capital to generate revenue, exhibited various trends. The ratio fluctuated over time, starting at 0.03 in March 2020 and reaching as high as 0.80 by December 2024. There were periods of both decline and improvement in the efficiency of working capital utilization, indicating changes in the company's operational efficiency and financial health.

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Average number of days

Based on the provided data, the Days of Inventory on Hand (DOH) for Protagonist Therapeutics Inc show that as of December 31, 2021, the company had an unusually high DOH of 3,789.49 days. This indicates that the company may be holding an excessive amount of inventory relative to its sales levels, which could lead to potential issues with inventory management efficiency.

The DOH decreased significantly to 1,707.68 days as of March 31, 2022. This reduction suggests that the company managed to improve its inventory management practices and streamline its inventory levels within a shorter period, which is a positive sign for operational efficiency.

The data does not provide information for the following periods, so it is difficult to analyze the trend over time. However, the significant fluctuations in DOH from the extreme values suggest that Protagonist Therapeutics may need to focus on maintaining a more consistent and balanced inventory level to support its operations effectively.

As for Days of Sales Outstanding (DSO) and Number of Days of Payables, the data does not offer any values, making it impossible to analyze these activity ratios for Protagonist Therapeutics Inc. Understanding these ratios would provide insights into the company's accounts receivables and payables management, which are crucial for its working capital management and overall financial health.

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Long-term

The fixed asset turnover ratio measures the efficiency of a company in generating sales revenue from its investments in fixed assets. From the data provided for Protagonist Therapeutics Inc, we observe that the fixed asset turnover ratio has shown significant fluctuations over the reporting periods.

In the initial period of analysis, the fixed asset turnover ratio was relatively low, indicating that Protagonist Therapeutics generated minimal revenue compared to its investment in fixed assets. However, there was a sharp increase in the ratio in the latter part of 2020 and early 2021, reaching peak levels in March 2021 and June 2022. These peak values reflect the company's ability to generate substantial sales from its fixed assets during these periods.

Subsequently, there was a decline in the fixed asset turnover ratio in the following quarters, and by June 2023, the ratio dropped to zero, suggesting that the company may not have been effectively utilizing its fixed assets to generate revenue.

Moreover, in the latter half of 2023 and into 2024, the fixed asset turnover ratio remained at zero, indicating a potential stagnation or lack of operational activity in utilizing fixed assets to generate sales revenue. The absence of data post-September 2023 signifies a limitation in further analysis of the company's fixed asset turnover performance.

In comparison, the total asset turnover ratio, which measures how efficiently a company uses its assets to generate revenue, also displays fluctuations over time for Protagonist Therapeutics Inc. The total asset turnover ratio was relatively low in the earlier reporting periods but showed improvement in the later periods, reaching its highest values in December 2023 and beyond. This indicates that the company was utilizing its total assets more effectively to generate revenue in the latter part of the analysis period.

Overall, the varying trends in both the fixed asset turnover and total asset turnover ratios suggest fluctuations in Protagonist Therapeutics Inc's efficiency in utilizing its assets to generate revenue over the analyzed periods. Further analysis and additional data post-December 2024 would be needed to assess the company's long-term activity ratios comprehensively.