Protagonist Therapeutics Inc (PTGX)
Solvency ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.06 | 1.15 | 1.16 | 1.16 | 1.94 |
Protagonist Therapeutics Inc has maintained a consistently low level of debt relative to its assets, capital, and equity over the past five years, with all solvency ratios displaying a reading of 0.00. This indicates that the company has not relied heavily on debt to finance its operations and investments during this period.
However, it is worth noting a significant change in the financial leverage ratio, which decreased from 1.94 in 2019 to 1.06 in 2023. This decrease suggests that the company has reduced its dependence on debt financing and has improved its financial structure by utilizing more equity in its capital structure. Overall, the solvency ratios indicate that Protagonist Therapeutics Inc has maintained a strong financial position with minimal leverage over the years, which may indicate a lower risk of financial distress and an ability to weather economic downturns.
Coverage ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Interest coverage | — | -38.99 | -50.72 | -107.44 | -459.82 |
The interest coverage ratio for Protagonist Therapeutics Inc has shown a significant improvement over the past five years. In 2019, the interest coverage ratio was -459.82, indicating that the company's operating income was significantly insufficient to cover its interest expenses. This raised concerns about the company's financial health and ability to meet its debt obligations.
However, over the following years, the interest coverage ratio improved steadily. By the end of 2020, the ratio had increased to -107.44, showing a significant reduction in the company's interest burden relative to its operating income. This trend continued, with the ratio further improving to -50.72 in 2021 and -38.99 in 2022. Although the company was still not generating enough operating income to cover its interest expenses during these years, the improvements indicate a positive trajectory.
As of the latest available data in 2023, the interest coverage ratio for Protagonist Therapeutics Inc is not provided. Investors and analysts may need to wait for the updated financial statements to assess the current financial position of the company in terms of its ability to cover interest expenses. Overall, the trend of increasing interest coverage ratios in recent years reflects a positive development in Protagonist Therapeutics Inc's financial performance and debt management.