Protagonist Therapeutics Inc (PTGX)

Current ratio

		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
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
Current ratio		15.72	16.71	11.66	12.01	10.15	7.80	7.53	7.59	7.86	7.74	8.37	8.65	8.27	7.84	5.29	6.15	3.46	4.10	4.68	4.12

March 31, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $627,553K ÷ $39,910K
= 15.72

The current ratio of Protagonist Therapeutics Inc has shown a generally positive trend over the past few quarters, indicating the company's ability to meet its short-term obligations with its current assets. The ratio has consistently remained above 1, indicating that the company has more than enough current assets to cover its current liabilities.

There has been a notable increase in the current ratio from the end of 2019 to the latest quarter of 2024, with the ratio peaking at 16.71 in December 2023. This suggests that the company has significantly strengthened its liquidity position over this period. However, it's important to note that the ratio has fluctuated somewhat, reaching its lowest point of 3.46 in March 2020, although it has since recovered and remained relatively stable.

Overall, the current ratio of Protagonist Therapeutics Inc demonstrates sound liquidity management and a healthy balance between current assets and liabilities, indicating a strong financial position to support its operations and growth.