Protagonist Therapeutics Inc (PTGX)
Receivables 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 |
| Receivables | US$ in thousands | — | 3,852 | 5,333 | 3,821 | 7,499 |
| Receivables turnover | — | 6.93 | 5.15 | 7.21 | 0.02 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $60,137K ÷ $—K
= —
The receivables turnover ratio for Protagonist Therapeutics Inc has exhibited variability over the past five years. In 2019, the company had a very low receivables turnover of 0.02, indicating that it took a significant amount of time to collect revenue from its customers. This improved notably in 2020 to 7.21, suggesting a much more efficient collection process. However, there was a decrease in the receivables turnover in 2021 to 5.15, followed by a further increase in 2022 to 6.93.
The overall trend indicates that Protagonist Therapeutics Inc has been able to collect its receivables faster in recent years, which is a positive sign for the company's liquidity and cash flow management. A higher receivables turnover ratio signifies that the company is efficiently managing its accounts receivables and converting them into cash. The company's ability to collect payments promptly from its customers helps in maintaining a healthy cash flow and indicates effective credit policies in place.
Peer comparison
Dec 31, 2023