Protagonist Therapeutics Inc (PTGX)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	148,678	-93,652	-153,217	-147,194	-146,283	-131,373	-131,873	-133,496	-122,935	-125,845	-107,659	-81,505	-68,840	-64,516	-62,985	-72,380	-85,570	-80,521	-78,634	-70,856
Total assets	US$ in thousands	629,276	357,951	330,016	320,466	239,858	247,928	282,174	310,512	348,296	347,695	373,175	404,232	298,072	324,468	217,320	224,980	134,901	154,917	154,627	148,105
Operating ROA		23.63%	-26.16%	-46.43%	-45.93%	-60.99%	-52.99%	-46.73%	-42.99%	-35.30%	-36.19%	-28.85%	-20.16%	-23.10%	-19.88%	-28.98%	-32.17%	-63.43%	-51.98%	-50.85%	-47.84%

March 31, 2024 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $148,678K ÷ $629,276K
= 23.63%

Protagonist Therapeutics Inc's operating return on assets (operating ROA) has shown significant fluctuations over the past several quarters. The data reveals that the company's operating ROA has ranged from -63.43% to 23.63% during the period under review.

The operating ROA was consistently negative from December 2019 to March 2024, with the lowest point recorded in March 2020 at -63.43%. This suggests that during these periods, the company's operating income generated from its assets was insufficient to cover the cost of those assets.

However, there was a notable improvement in the operating ROA in March 2024, reaching 23.63%, indicating a positive trend in the company's ability to generate operating income from its assets.

Overall, Protagonist Therapeutics Inc's operating ROA performance has been volatile, with periods of both negative and positive returns. The company may need to focus on improving operational efficiency and asset utilization to drive sustainable profitability in the future.