Protagonist Therapeutics Inc (PTGX)

Total asset 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
Total assets	US$ in thousands	357,951	247,928	347,695	324,468	154,917
Total asset turnover		0.17	0.11	0.08	0.08	0.00

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $60,137K ÷ $357,951K
= 0.17

Protagonist Therapeutics Inc's total asset turnover has shown a fluctuating trend over the past five years. The total asset turnover ratio measures a company's efficiency in generating revenue from its total assets.

In 2019, the total asset turnover was notably low at 0.00, indicating that the company struggled to utilize its assets effectively to generate revenue. However, there was a significant improvement in 2020 when the total asset turnover increased to 0.08, suggesting better asset management and revenue generation.

The trend continued in 2021 and 2022, with total asset turnover ratios of 0.08 and 0.11 respectively, demonstrating a gradual but positive trend in utilizing assets to generate revenue. The most recent data for 2023 shows a further improvement in total asset turnover to 0.17, indicating that Protagonist Therapeutics Inc has been more efficient in generating revenue from its total assets.

Overall, the increasing trend in total asset turnover signals improved efficiency in the company's asset management and revenue generation over the years. However, it is essential for the company to continue this positive trend to ensure sustained growth and profitability.