Protagonist Therapeutics Inc (PTGX)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	-78,955	-127,393	-125,551	-66,150	-77,187
Total assets	US$ in thousands	357,951	247,928	347,695	324,468	154,917
ROA		-22.06%	-51.38%	-36.11%	-20.39%	-49.82%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $-78,955K ÷ $357,951K
= -22.06%

Protagonist Therapeutics Inc's return on assets (ROA) has shown varying trends over the past five years, ranging from negative 51.38% in 2022 to negative 20.39% in 2020. The negative ROA values indicate that the company's net income generated from its assets has been insufficient to cover the costs associated with those assets.

The significant fluctuations in ROA suggest inconsistency in the company's ability to generate profits from its assets over the years. The lowest ROA of -51.38% in 2022 indicates particularly poor performance in utilizing its assets effectively to generate returns for shareholders.

Overall, Protagonist Therapeutics Inc's negative ROA values raise concerns about the company's operational efficiency and profitability, indicating potential challenges in maximizing returns from its asset base. Management may need to evaluate and implement strategies to improve asset utilization and profitability to enhance long-term financial performance.