Protagonist Therapeutics Inc (PTGX)
Liquidity ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Quick ratio | 8.08 | 16.06 | 11.51 | 11.87 | 9.94 | 7.74 | 7.29 | 7.37 | 7.68 | 7.55 | 8.14 | 8.47 | 8.09 | 7.70 | 5.12 | 5.99 | 3.33 | 3.97 | 4.54 | 3.97 |
| Cash ratio | 8.08 | 16.06 | 11.51 | 11.87 | 9.93 | 7.61 | 7.28 | 7.28 | 7.02 | 7.43 | 8.03 | 8.24 | 7.92 | 7.60 | 5.03 | 5.90 | 3.23 | 3.76 | 4.47 | 3.78 |
Protagonist Therapeutics Inc has shown a consistently strong liquidity position over the past five quarters, as indicated by its current, quick, and cash ratios. The current ratio, which measures the company's ability to cover short-term liabilities with its current assets, has been increasing steadily, reaching a high of 16.71 at the end of December 2023. This suggests that Protagonist has more than enough current assets to meet its short-term obligations.
The quick ratio, a more stringent measure of liquidity that excludes inventory from current assets, also reflects a robust liquidity position for Protagonist. The company's quick ratio has been consistently above 7, indicating a strong ability to meet short-term obligations without relying on inventory liquidation.
Furthermore, the cash ratio, which is the most conservative liquidity measure as it only considers cash and cash equivalents, has also remained at healthy levels for Protagonist. The company has consistently maintained a cash ratio above 7, indicating a solid cash position to cover immediate liabilities without relying on other current assets.
Overall, Protagonist Therapeutics Inc's liquidity ratios demonstrate a strong financial position with ample liquidity to meet short-term obligations efficiently and effectively.
Additional liquidity measure
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash conversion cycle | days | -32.17 | -8.41 | -14.25 | 95.06 | -30.25 | 10.79 | -46.75 | 11.22 | 228.32 | 163.74 | 57.31 | 4.68 | 18.52 | 66.50 | -10.06 | 33.25 | 132.01 | 679.92 | 157.59 | 159.27 |
Protagonist Therapeutics Inc's cash conversion cycle has shown significant fluctuations over the past few quarters. The company experienced a negative cash conversion cycle in most recent quarters, indicating efficient management of its working capital. However, the cash conversion cycle turned positive in the March 31, 2022 quarter with 228.32 days, suggesting potential issues with cash flow management during that period.
The negative cash conversion cycles in Dec 31, 2023 (-8.41 days), Sep 30, 2023 (-14.25 days), Mar 31, 2023 (-30.25 days), Dec 31, 2022 (10.79 days), Jun 30, 2022 (11.22 days), Dec 31, 2021 (163.74 days), Sep 30, 2021 (57.31 days), and Dec 31, 2020 (-10.06 days) indicate that Protagonist Therapeutics Inc efficiently generated cash from its operating activities and managed to convert its inventory and receivables into cash quickly.
The significant increase in the cash conversion cycle in Mar 31, 2022 (228.32 days) and Mar 31, 2021 (132.01 days), suggests a decline in operational efficiency, possibly due to challenges in managing working capital or delays in converting inventory and receivables into cash.
Overall, Protagonist Therapeutics Inc should closely monitor its cash conversion cycle to ensure efficient management of working capital and optimize its cash flow position to sustain and improve its financial performance.