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.