Protagonist Therapeutics Inc (PTGX)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.12 | 1.06 | 1.09 | 1.09 | 1.11 | 1.15 | 1.16 | 1.16 | 1.15 | 1.16 | 1.13 | 1.13 | 1.15 | 1.16 | 1.28 | 1.34 | 2.15 | 1.94 | 1.62 | 1.76 |
Protagonist Therapeutics Inc has consistently maintained a very low level of leverage based on the solvency ratios provided. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have all remained at 0.00 across the reporting periods, indicating that the company does not rely on debt to finance its assets or operations.
The financial leverage ratio, however, shows some fluctuations over time, ranging from 1.06 to 2.15. The ratio peaked at 2.15 on March 31, 2020, indicating a higher level of financial leverage at that point compared to the other periods. However, since then, the financial leverage has generally decreased, with the ratio fluctuating between 1.06 and 1.34 in the most recent periods.
Overall, Protagonist Therapeutics appears to have a solid financial position with minimal reliance on debt financing, as evidenced by the consistent low levels of debt-related ratios. The fluctuations in the financial leverage ratio may warrant further investigation to understand the factors driving these changes.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 64.76 | -20.39 | -51.97 | -36.62 | -32.49 | -55.31 | -76.54 | -204.75 | -731.76 | -990.91 | -423.57 | -298.19 | -142.34 | -107.44 | -98.41 | -91.64 | -114.35 | -119.47 | -155.10 | -209.63 |
Protagonist Therapeutics Inc's interest coverage ratio has fluctuated significantly over the past few quarters, ranging from extremely high to negative values.
For the latest available data as of March 31, 2024, the interest coverage ratio is 64.76, indicating that the company is able to cover its interest expenses approximately 64 times over with its operating income. This suggests a strong ability to meet interest payments and signifies a healthy financial position.
However, in previous quarters, the interest coverage ratio has been negative, reaching as low as -990.91 in the quarter ended December 31, 2021. A negative interest coverage ratio indicates that the company's operating income was insufficient to cover its interest expenses, raising concerns about its financial health and ability to service its debt.
It is essential for Protagonist Therapeutics Inc to monitor and manage its interest coverage ratio effectively to ensure it maintains a healthy balance between its operating income and interest payments. Negative or low interest coverage ratios can be warning signs of potential financial distress and may require strategic actions such as cost-cutting measures, increasing revenues, or refinancing debt to improve the company’s financial stability.