Protagonist Therapeutics Inc (PTGX)

Working capital 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
Revenue (ttm)	US$ in thousands	315,090	60,137	123	123	982	26,704	35,221	45,507	46,913	27,380	24,330	27,139	31,091	28,549	25,678	12,604	6,408	4,321	3,955	10,051
Total current assets	US$ in thousands	627,553	355,577	324,881	316,941	235,736	243,077	276,617	304,302	341,522	340,736	327,687	371,818	285,508	315,606	204,151	217,466	125,986	145,311	144,023	137,320
Total current liabilities	US$ in thousands	39,910	21,274	27,867	26,398	23,229	31,179	36,754	40,088	43,456	44,016	39,156	42,973	34,515	40,241	38,563	35,360	36,372	35,406	30,776	33,323
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

March 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $315,090K ÷ ($627,553K – $39,910K)
= 0.54

The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales revenue. A high working capital turnover ratio indicates that the company is effectively managing its working capital to support sales growth.

Protagonist Therapeutics Inc's working capital turnover has shown fluctuations over the periods analyzed. In the latest quarter, ending March 31, 2024, the working capital turnover ratio was 0.54, indicating that the company generated $0.54 in revenue for every dollar of working capital invested. This represents a significant improvement compared to the previous quarter, where the ratio was 0.18.

Looking at the trend over multiple periods, the working capital turnover ratio has shown variability, with some quarters reporting low or even zero turnover. This suggests that Protagonist Therapeutics may have faced challenges in efficiently utilizing its working capital to generate sales revenue during certain periods.

Overall, Protagonist Therapeutics Inc's working capital turnover ratio has displayed improvement in the latest quarter, indicating better efficiency in utilizing its working capital to support sales. Monitoring this ratio over time can provide insights into the company's working capital management effectiveness and operational performance.