Protagonist Therapeutics Inc (PTGX)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | -93,652 | -131,373 | -125,845 | -64,516 | -80,521 |
| Total assets | US$ in thousands | 357,951 | 247,928 | 347,695 | 324,468 | 154,917 |
| Operating ROA | -26.16% | -52.99% | -36.19% | -19.88% | -51.98% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $-93,652K ÷ $357,951K
= -26.16%
Protagonist Therapeutics Inc's operating return on assets (operating ROA) has shown fluctuating performance over the past five years. The negative values indicate that the company's operating income generated from its assets has been insufficient to cover its operating expenses and resulting in overall loss on assets investment.
The significant improvement in operating ROA from -52.99% in 2022 to -26.16% in 2023 suggests a better utilization of assets to generate operating income. However, the negative values across all years highlight a consistent challenge for Protagonist Therapeutics Inc in efficiently earning returns on its asset base.
Further analysis would be necessary to understand the reasons behind the low operating ROA, such as operational inefficiencies, pricing pressures, or resource allocation issues. Addressing these underlying issues could help improve the company's profitability and overall financial performance.
Peer comparison
Dec 31, 2023