Protagonist Therapeutics Inc (PTGX)
Return on total capital
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 251,951 | 148,220 | 150,520 | 147,030 | -95,300 | -152,543 | -145,693 | -143,555 | -128,464 | -132,077 | -133,700 | -123,545 | -126,636 | -108,032 | -82,150 | -69,451 | -65,091 | -63,013 | -71,924 | -85,148 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 675,295 | 531,915 | 541,324 | 560,444 | 336,677 | -643,045 | 294,068 | -570,480 | -536,755 | 243,616 | 267,978 | 301,778 | -409,362 | 329,660 | 357,447 | 259,334 | -283,811 | 169,590 | 167,485 | 62,666 |
| Return on total capital | 37.31% | 27.87% | 27.81% | 26.23% | -28.31% | — | -49.54% | — | — | -54.22% | -49.89% | -40.94% | — | -32.77% | -22.98% | -26.78% | — | -37.16% | -42.94% | -135.88% |
December 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $251,951K ÷ ($—K + $675,295K)
= 37.31%
Protagonist Therapeutics Inc's return on total capital experienced significant fluctuations over the period under consideration. The ratio was negative in most quarters, indicating that the company was not effectively utilizing its total capital to generate returns for its investors. The return on total capital was particularly low in the middle of 2022 and in the first half of 2023, with values ranging from -40.94% to -54.22%.
However, the company's return on total capital began to improve in the latter part of 2023, turning positive by the first quarter of 2024. This positive trend continued throughout 2024, with the ratio reaching a noteworthy 37.31% by the end of December 2024. This improvement suggests that Protagonist Therapeutics Inc may have implemented more effective capital allocation strategies or operational efficiencies to enhance its overall profitability and return on investment.
Peer comparison
Dec 31, 2024