Protagonist Therapeutics Inc (PTGX)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 186,727 | 125,744 | 123,665 | 117,358 | 33,006 |
| Short-term investments | US$ in thousands | 154,890 | 111,611 | 203,235 | 188,500 | 100,011 |
| Total current liabilities | US$ in thousands | 21,274 | 31,179 | 44,016 | 40,241 | 35,406 |
| Cash ratio | 16.06 | 7.61 | 7.43 | 7.60 | 3.76 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($186,727K
+ $154,890K)
÷ $21,274K
= 16.06
The cash ratio measures a company's ability to cover its short-term liabilities using its cash and cash equivalents.
Over the past five years, Protagonist Therapeutics Inc has shown a consistent improvement in its cash ratio, indicating a strengthening liquidity position. As of December 31, 2023, the company's cash ratio stands at 16.06, indicating that for every $1 of current liabilities, the company has $16.06 in cash and cash equivalents available to cover those obligations.
This significant increase from the previous years, where the cash ratio ranged from 3.76 to 7.61, suggests that Protagonist Therapeutics Inc has significantly bolstered its liquidity position and is better equipped to meet its short-term obligations. This trend is a positive signal for the company's financial health and indicates a prudent approach to managing its cash resources.
Peer comparison
Dec 31, 2023