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Protagonist Therapeutics (PTGX) Financials

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$145.35 +0.27 (+0.18%)
As of 02:23 PM Eastern
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Annual Income Statements for Protagonist Therapeutics

Annual Income Statements for Protagonist Therapeutics

This table shows Protagonist Therapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -15 -38 -37 -39 -77 -66 -126 -127 -79 275 -130
Consolidated Net Income / (Loss)		 -15 -37 -37 -39 -77 -66 -126 -127 -79 275 -130
Net Income / (Loss) Continuing Operations		 -15 -37 -37 -39 -77 -66 -126 -127 -79 275 -130
Total Pre-Tax Income 		-15 -37 -37 -40 -78 -65 -126 -127 -79 279 -129
Total Operating Income		 -15 -33 -38 -42 -81 -65 -126 -131 -94 253 -158
Total Gross Profit		 0.00 0.00 20 31 0.23 29 27 27 60 434 46
Total Revenue		 0.00 0.00 20 31 0.23 29 27 27 60 434 46
Operating Revenue		 0.00 0.00 20 31 0.23 29 27 27 60 434 46
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 15 33 58 73 81 93 153 158 154 182 204
Selling, General & Admin Expense		 2.96 6.96 12 14 16 19 27 32 33 43 45
Research & Development Expense		 12 26 46 59 65 75 126 126 120 138 159
Total Other Income / (Expense), net		 -0.06 -4.48 0.94 2.55 2.64 -0.33 0.29 3.98 15 27 29
Interest & Investment Income		 0.02 0.24 0.95 2.57 2.81 0.90 0.44 4.06 15 26 29
Other Income / (Expense), net		 -0.08 -4.72 -0.01 -0.02 -0.00 -0.05 -0.15 -0.08 -0.20 0.25 0.03
Income Tax Expense		 - 0.00 - -0.80 -0.69 1.31 - 0.00 0.00 4.22 0.84
Basic Earnings per Share		 ($59.32) ($5.80) ($2.09) ($1.74) ($2.98) ($1.92) ($2.71) ($2.60) ($1.39) $4.47 ($2.05)
Weighted Average Basic Shares Outstanding		 251.72K 6.50M 17.69M 22.36M 25.89M 34.40M 46.32M 49.04M 56.76M 61.57M 63.57M
Diluted Earnings per Share		 ($59.32) ($5.80) ($2.09) ($1.74) ($2.98) ($1.92) ($2.71) ($2.60) ($1.39) $4.23 ($2.05)
Weighted Average Diluted Shares Outstanding		 251.72K 6.50M 17.69M 22.36M 25.89M 34.40M 46.32M 49.04M 56.76M 65.08M 63.57M
Weighted Average Basic & Diluted Shares Outstanding		 251.72K 6.50M 17.69M 22.36M 25.89M 34.40M 46.32M 51.28M 58.27M 61.38M 63.81M

Quarterly Income Statements for Protagonist Therapeutics

This table shows Protagonist Therapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 27 207 -31 -33 132 -12 -35 -39 -44 3.78 163
Consolidated Net Income / (Loss)		 27 207 -31 -33 132 -12 -35 -39 -44 3.78 163
Net Income / (Loss) Continuing Operations		 27 207 -31 -33 132 -12 -35 -39 -44 3.78 163
Total Pre-Tax Income 		27 211 -31 -34 134 -12 -35 -39 -44 2.28 165
Total Operating Income		 23 206 -39 -41 127 -19 -42 -46 -50 -3.65 159
Total Gross Profit		 60 255 4.17 4.68 171 28 5.55 4.71 7.44 56 213
Total Revenue		 60 255 4.17 4.68 171 28 5.55 4.71 7.44 56 213
Operating Revenue		 60 255 4.17 4.68 171 28 5.55 4.71 7.44 56 213
Total Cost of Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Operating Expenses		 37 49 43 46 44 48 48 51 58 60 55
Selling, General & Admin Expense		 8.05 15 9.44 10 8.95 12 11 11 11 13 13
Research & Development Expense		 29 34 34 36 35 36 37 40 46 47 42
Total Other Income / (Expense), net		 4.29 4.36 7.50 7.82 6.88 7.66 7.44 7.08 6.64 5.93 6.35
Interest & Investment Income		 4.24 4.38 7.40 7.68 6.85 7.57 7.41 7.05 6.76 5.88 6.43
Other Income / (Expense), net		 0.04 -0.02 0.10 0.14 0.03 0.08 0.04 0.03 -0.12 0.05 -0.08
Income Tax Expense		 - 3.33 -0.68 -0.42 1.99 0.00 0.17 0.00 0.67 -1.50 2.27
Basic Earnings per Share		 $0.54 $3.41 ($0.50) ($0.54) $2.10 ($0.19) ($0.55) ($0.62) ($0.69) $0.06 $2.47
Weighted Average Basic Shares Outstanding		 56.76M 60.86M 61.31M 61.77M 61.57M 62.96M 63.51M 63.77M 63.57M 65.09M 65.94M
Diluted Earnings per Share		 $0.54 $3.26 ($0.50) ($0.54) $2.01 ($0.19) ($0.55) ($0.62) ($0.69) $0.05 $2.29
Weighted Average Diluted Shares Outstanding		 56.76M 63.60M 61.31M 61.77M 65.08M 62.96M 63.51M 63.77M 63.57M 70.49M 71.01M
Weighted Average Basic & Diluted Shares Outstanding		 58.27M 58.65M 58.90M 59.60M 61.38M 61.98M 62.21M 62.52M 63.81M 64.31M 64.71M

Annual Cash Flow Statements for Protagonist Therapeutics

This table details how cash moves in and out of Protagonist Therapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -5.23 17 85 -24 -49 84 6.07 2.08 61 -89 31
Net Cash From Operating Activities		 -14 -30 3.87 -50 -42 -72 -108 -108 -70 184 58
Net Cash From Continuing Operating Activities		 -14 -30 3.87 -50 -42 -72 -108 -108 -70 184 58
Net Income / (Loss) Continuing Operations		 -15 -37 -37 -39 -77 -66 -126 -127 -79 275 -130
Consolidated Net Income / (Loss)		 -15 -37 -37 -39 -77 -66 -126 -127 -79 275 -130
Depreciation Expense		 0.25 0.32 0.41 0.53 0.73 0.95 0.81 1.03 0.98 0.83 1.28
Amortization Expense		 -0.01 0.12 0.69 0.21 1.20 1.81 3.79 1.79 -4.57 -8.88 -7.22
Non-Cash Adjustments To Reconcile Net Income		 0.18 6.88 4.18 6.26 5.70 9.92 16 24 22 -115 212
Changes in Operating Assets and Liabilities, net		 0.05 -0.11 36 -18 28 -19 -3.31 -7.77 -9.33 32 -19
Net Cash From Investing Activities		 -8.26 -59 16 2.21 -54 -91 -16 91 -39 -299 -49
Net Cash From Continuing Investing Activities		 -8.26 -59 16 2.21 -54 -91 -16 91 -39 -299 -49
Purchase of Property, Plant & Equipment		 -0.40 -0.35 -0.67 -0.49 -0.97 -0.47 -1.10 -0.80 -0.61 -1.36 -1.59
Purchase of Investments		 -7.87 -73 -40 -71 -167 -280 -287 -215 -191 -622 -547
Sale and/or Maturity of Investments		 0.00 14 56 74 114 190 272 307 152 324 499
Net Cash From Financing Activities		 17 106 66 24 46 248 130 19 170 26 23
Net Cash From Continuing Financing Activities		 17 106 66 24 46 248 130 19 170 26 23
Issuance of Debt		 - - - 1.51 44 42 0.00 15 24 0.00 0.00
Issuance of Common Equity		 0.06 84 66 23 1.78 216 130 4.47 113 26 23
Other Financing Activities, net		 - - - - 0.00 - -0.19 -0.19 34 -0.60 -0.48
Cash Income Taxes Paid		 - - - - - - - 0.00 0.00 1.53 3.69

Quarterly Cash Flow Statements for Protagonist Therapeutics

This table details how cash moves in and out of Protagonist Therapeutics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -44 -14 183 -225 -34 42 29 -55 15 65 226
Net Cash From Operating Activities		 17 -27 269 -28 -29 125 -29 -1.94 -37 -49 219
Net Cash From Continuing Operating Activities		 17 -27 269 -28 -29 125 -29 -1.94 -37 -49 219
Net Income / (Loss) Continuing Operations		 27 207 -31 -33 132 -12 -35 -39 -44 3.78 163
Consolidated Net Income / (Loss)		 27 207 -31 -33 132 -12 -35 -39 -44 3.78 163
Depreciation Expense		 0.25 0.24 0.24 0.23 0.12 0.24 0.30 0.36 0.38 0.41 0.40
Amortization Expense		 -0.76 -1.62 -1.01 -2.42 -2.34 -2.29 -1.91 -1.68 -1.34 -1.03 -1.05
Non-Cash Adjustments To Reconcile Net Income		 6.60 -280 8.94 10 9.09 157 12 32 12 -39 51
Changes in Operating Assets and Liabilities, net		 -16 47 291 -2.63 -168 -17 -4.52 6.46 -3.14 -14 5.49
Net Cash From Investing Activities		 -61 6.07 -88 -209 -8.73 -94 55 -59 49 91 -2.43
Net Cash From Continuing Investing Activities		 -61 6.07 -88 -209 -8.73 -94 55 -59 49 91 -2.43
Purchase of Property, Plant & Equipment		 -0.02 -0.24 -0.03 -0.78 -0.31 -0.55 -0.81 -0.09 -0.14 -0.22 -0.17
Purchase of Investments		 -98 -66 -175 -267 -114 -214 -67 -161 -104 -69 -135
Sale and/or Maturity of Investments		 37 72 87 59 106 120 123 103 153 160 132
Net Cash From Financing Activities		 0.53 7.20 2.57 12 4.03 11 2.93 5.66 2.84 23 9.74
Net Cash From Continuing Financing Activities		 0.53 7.20 2.57 12 4.03 11 2.93 5.66 2.84 23 9.74
Issuance of Common Equity		 0.53 7.80 2.57 12 4.03 12 2.93 5.66 2.84 23 9.74

Annual Balance Sheets for Protagonist Therapeutics

This table presents Protagonist Therapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 15 94 164 139 155 324 348 248 358 745 668
Total Current Assets		 0.00 83 151 138 145 316 341 243 356 592 578
Cash & Equivalents		 4.06 21 106 82 33 117 124 126 187 97 128
Short-Term Investments		 7.87 57 38 47 100 188 203 112 155 322 439
Note & Lease Receivable		 - - - - - - - - - 165 0.12
Prepaid Expenses		 1.56 3.39 3.77 2.62 5.53 6.28 9.48 5.71 3.96 7.73 10
Other Current Assets		 0.72 - - - - - - 0.01 10 - 0.00
Plant, Property, & Equipment, net		 0.61 0.56 0.88 0.86 1.68 1.46 1.80 1.57 1.20 3.19 3.86
Total Noncurrent Assets		 0.03 10 12 1.11 7.93 7.40 5.16 3.29 1.18 150 87
Long-Term Investments		 0.00 10 11 - 0.00 2.00 - - 0.00 140 79
Other Noncurrent Operating Assets		 0.03 0.03 0.45 0.45 6.49 5.40 5.16 3.29 1.18 9.64 8.12
Total Liabilities & Shareholders' Equity		 15 94 164 139 155 324 348 248 358 745 668
Total Liabilities		 5.25 6.44 43 27 75 45 48 32 21 69 53
Total Current Liabilities		 3.13 6.44 43 26 35 40 44 31 21 47 45
Accounts Payable		 3.13 6.44 11 18 16 24 40 29 20 25 34
Current Deferred Revenue		 - - 32 8.22 18 14 1.60 0.07 0.00 19 9.55
Other Current Liabilities		 - - - - 1.26 1.46 2.20 2.52 1.14 0.51 2.28
Total Noncurrent Liabilities		 2.12 0.00 0.55 0.80 40 4.62 3.66 1.14 0.00 22 8.04
Other Noncurrent Operating Liabilities		 2.12 - - - 5.96 4.62 3.66 1.14 0.00 10 8.04
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -27 88 121 113 80 280 300 216 337 675 615
Total Preferred & Common Equity		 -27 88 121 113 80 280 300 216 337 675 615
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -27 88 121 113 80 280 300 216 337 675 615
Common Stock		 0.12 152 222 253 298 563 710 753 952 1,016 1,085
Retained Earnings		 -27 -65 -102 -140 -218 -284 -409 -537 -616 -341 -471
Accumulated Other Comprehensive Income / (Loss)		 -0.10 -0.25 -0.01 -0.23 -0.22 0.03 -0.30 -0.36 -0.11 -0.08 0.64

Quarterly Balance Sheets for Protagonist Therapeutics

This table presents Protagonist Therapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 240 320 330 629 615 604 742 718 702 697 886
Total Current Assets		 236 317 325 628 571 477 606 603 586 613 807
Cash & Equivalents		 128 235 231 173 356 131 140 169 114 194 420
Short-Term Investments		 103 78 90 150 208 338 435 402 462 354 362
Note & Lease Receivable		 - - - - - - 0.00 0.00 0.58 54 13
Prepaid Expenses		 4.93 3.50 4.13 4.88 6.89 8.05 8.68 8.70 9.72 12 7.79
Other Current Assets		 - - 0.00 300 0.04 0.00 23 23 - - 3.37
Plant, Property, & Equipment, net		 1.34 1.26 1.42 1.11 1.78 2.47 3.53 4.11 4.10 3.78 3.46
Total Noncurrent Assets		 2.78 2.26 3.71 0.61 42 125 133 111 111 80 75
Long-Term Investments		 - - 1.99 - 31 115 124 102 103 73 67
Other Noncurrent Operating Assets		 2.78 2.26 1.73 0.61 10 10 9.23 8.88 8.46 7.68 8.07
Total Liabilities & Shareholders' Equity		 240 320 330 629 615 604 742 718 702 697 886
Total Liabilities		 24 26 28 69 73 72 53 50 56 42 44
Total Current Liabilities		 23 26 28 40 42 45 35 36 45 35 37
Accounts Payable		 21 24 26 20 19 24 15 19 29 26 25
Current Deferred Revenue		 0.00 0.00 0.00 16 20 20 17 15 14 6.28 9.66
Other Current Liabilities		 2.60 2.45 1.80 0.47 0.00 0.05 1.57 2.17 2.23 2.34 2.40
Total Noncurrent Liabilities		 0.46 0.00 0.00 29 32 27 18 14 11 7.44 6.82
Other Noncurrent Operating Liabilities		 0.46 0.00 0.00 - 11 11 9.79 9.11 8.52 7.44 6.82
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 216 294 302 560 541 532 689 668 645 655 842
Total Preferred & Common Equity		 216 294 302 560 541 532 689 668 645 655 842
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 216 294 302 560 541 532 689 668 645 655 842
Common Stock		 787 903 945 969 981 1,003 1,041 1,055 1,071 1,123 1,146
Retained Earnings		 -570 -609 -643 -408 -439 -472 -352 -387 -426 -467 -304
Accumulated Other Comprehensive Income / (Loss)		 -0.12 -0.20 -0.17 -0.23 -0.25 1.34 0.09 -0.02 0.53 -0.27 -0.83

Annual Metrics And Ratios for Protagonist Therapeutics

This table displays calculated financial ratios and metrics derived from Protagonist Therapeutics' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 54.14% -99.25% 12,293.07% -4.44% -2.84% 125.73% 624.06% -89.41%
EBITDA Growth		 -35.16% -152.43% 0.38% -12.89% -89.12% 21.36% -96.42% -5.97% 26.06% 359.82% -166.94%
EBIT Growth		 -34.17% -151.29% -1.39% -11.57% -90.41% 19.82% -95.15% -4.33% 28.60% 369.67% -162.47%
NOPAT Growth		 -58.75% -120.81% -16.01% -11.54% -90.50% 19.88% -95.06% -4.39% 28.71% 479.86% -144.45%
Net Income Growth		 -34.19% -150.22% 0.59% -5.32% -98.30% 14.30% -89.80% -1.47% 38.02% 448.54% -147.29%
EPS Growth		 -20.13% 90.22% 63.97% 16.75% -71.26% 35.57% -41.15% 4.06% 46.54% 404.32% -148.46%
Operating Cash Flow Growth		 -85.78% -108.36% 112.92% -1,389.95% 16.86% -74.55% -48.81% -0.25% 35.05% 362.19% -68.68%
Free Cash Flow Firm Growth		 0.00% -211.76% 132.42% -693.17% 38.76% -104.52% -48.50% -8.57% 15.17% 255.35% -71.29%
Invested Capital Growth		 0.00% 91.27% -16,976.96% 53.07% -164.67% 34.80% 4.73% 19.09% 77.28% 2,450.81% -126.95%
Revenue Q/Q Growth		 0.00% 0.00% 128.48% -22.40% 271.11% 11.41% 12.16% -24.48% 0.00% 34.17% -78.01%
EBITDA Q/Q Growth		 0.00% 0.00% 17.99% -41.54% -1.87% -1.99% -15.73% -1.69% 38.32% 70.30% -1,303.19%
EBIT Q/Q Growth		 0.00% 0.00% 17.20% -39.25% -2.40% -2.68% -16.87% 0.44% 38.81% 69.43% -923.87%
NOPAT Q/Q Growth		 0.00% 0.00% 17.22% -39.18% -2.40% -2.43% -16.89% 0.38% 38.88% 67.00% -709.75%
Net Income Q/Q Growth		 0.00% 0.00% 18.15% -38.47% -4.94% -2.14% -16.76% 2.09% 43.80% 61.07% -383.49%
EPS Q/Q Growth		 0.00% 0.00% -103.94% -42.62% -0.68% 9.86% -16.31% 3.35% 46.95% 53.26% -415.38%
Operating Cash Flow Q/Q Growth		 0.00% -19.74% -53.58% 7.44% -11.12% -6.74% -8.09% -4.54% 40.89% -20.03% -11.91%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 10.58% -7.98% -7.50% -7.78% -6.35% 25.45% -28.87% 21,495.18%
Invested Capital Q/Q Growth		 0.00% 0.00% 26.00% -12.21% -2.18% 7.25% -17.84% 8.71% 76.00% 326.08% 6.25%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.00% 0.00% -183.48% -134.38% -34,022.51% -215.88% -443.72% -483.93% -158.52% 56.88% -356.49%
Operating Margin		 0.00% 0.00% -188.89% -136.68% -34,857.58% -225.36% -460.01% -494.24% -156.09% 58.20% -343.63%
EBIT Margin		 0.00% 0.00% -188.93% -136.75% -34,858.01% -225.52% -460.55% -494.54% -156.42% 58.26% -343.58%
Profit (Net Income) Margin		 0.00% 0.00% -184.20% -125.87% -33,414.29% -231.07% -458.94% -479.26% -131.59% 63.34% -282.83%
Tax Burden Percent		 100.00% 100.00% 100.00% 97.99% 99.11% 102.01% 100.00% 100.00% 100.00% 98.49% 100.65%
Interest Burden Percent		 99.87% 99.44% 97.50% 93.93% 96.72% 100.44% 99.65% 96.91% 84.13% 110.40% 81.79%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.51% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 447.93% -260.95%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 442.12% -257.72%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -393.54% 240.77%
Return on Equity (ROE)		 -154.84% -76.53% -35.50% -33.39% -80.20% -36.79% -43.32% -49.41% -28.59% 54.39% -20.18%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 110.18% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% -29.42% -27.89% -54.70% -26.94% -37.49% -44.14% -30.98% 45.91% -22.38%
Return on Assets (ROA)		 0.00% 0.00% -28.68% -25.68% -52.44% -27.60% -37.36% -42.78% -26.06% 49.91% -18.42%
Return on Common Equity (ROCE)		 442.11% -47.39% -35.50% -33.39% -80.20% -36.79% -43.32% -49.41% -28.59% 54.39% -20.18%
Return on Equity Simple (ROE_SIMPLE)		 54.23% -42.46% -30.64% -34.59% -96.53% -23.66% -41.85% -59.09% -23.45% 40.75% 0.00%
Net Operating Profit after Tax (NOPAT)		 -10 -23 -27 -30 -56 -45 -88 -92 -66 249 -111
NOPAT Margin		 0.00% 0.00% -132.22% -95.68% -24,400.30% -157.75% -322.01% -345.97% -109.26% 57.32% -240.54%
Net Nonoperating Expense Percent (NNEP)		 -75.46% -28.71% -8.58% -6.57% -16.52% -9.74% -11.80% -12.56% -4.63% 5.81% -3.23%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -42.65% -19.47% 36.88% -18.01%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 58.71% 44.29% 6,817.75% 65.10% 99.41% 119.40% 55.82% 10.00% 97.47%
R&D to Revenue		 0.00% 0.00% 230.18% 192.39% 28,139.83% 260.26% 460.60% 474.83% 200.27% 31.80% 346.16%
Operating Expenses to Revenue		 0.00% 0.00% 288.89% 236.68% 34,957.58% 325.36% 560.01% 594.24% 256.09% 41.80% 443.63%
Earnings before Interest and Taxes (EBIT)		 -15 -37 -38 -42 -81 -65 -126 -131 -94 253 -158
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -15 -37 -37 -42 -79 -62 -121 -129 -95 247 -164
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 4.20 3.53 1.45 2.40 2.76 5.44 2.49 3.93 3.41 8.88
Price to Tangible Book Value (P/TBV)		 0.00 4.20 3.53 1.45 2.40 2.76 5.44 2.49 3.93 3.41 8.88
Price to Revenue (P/Rev)		 0.00 0.00 21.23 5.26 830.33 26.94 59.67 20.19 22.04 5.30 118.66
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.36 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11.96% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14.99 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 13.48 1.10 296.85 16.19 47.72 11.26 16.35 4.01 104.62
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.05 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.88 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.99 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 69.86 0.00 0.00 0.00 0.00 0.00 0.00 9.46 83.48
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 33.38 0.00 0.00 0.00 0.00 0.00 0.00 13.61 131.05
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.12 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.12 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.24 -1.03 -1.17 -1.22 -1.31 -1.20 -1.10 -1.09 -1.05 -0.89 -0.93
Leverage Ratio		 1.55 1.12 1.24 1.30 1.53 1.33 1.16 1.16 1.10 1.09 1.10
Compound Leverage Factor		 1.55 1.11 1.21 1.22 1.48 1.34 1.16 1.12 0.92 1.20 0.90
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 10.91% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 10.91% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 385.54% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -285.54% 100.00% 100.00% 100.00% 89.09% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 -0.12 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 1.57 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 -0.12 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.17 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 2.19 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.17 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 32.98 5.21 2.39 -1.29 9.54 18.80 6.32 35.32 21.82 60.51
Noncontrolling Interest Sharing Ratio		 385.54% 38.08% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 12.94 3.55 5.26 4.10 7.84 7.74 7.80 16.71 12.48 12.71
Quick Ratio		 3.81 12.06 3.43 5.10 3.95 7.66 7.46 7.61 16.06 8.84 12.49
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -8.02 -25 8.11 -48 -29 -60 -89 -97 -82 128 37
Operating Cash Flow to CapEx		 -3,605.26% -8,637.46% 581.38% -10,277.16% -4,294.42% -15,389.38% -9,797.00% -13,602.14% -11,533.00% 13,590.55% 3,627.11%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 -174.22 -50.90 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 -245.72 -61.27 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -251.44 -61.67 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.16 0.20 0.00 0.12 0.08 0.09 0.20 0.79 0.07
Accounts Receivable Turnover		 0.00 0.00 0.00 9.66 0.04 6.24 13.71 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 27.85 35.55 0.18 18.22 16.78 15.81 43.48 198.15 13.05
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 37.79 8,960.67 58.53 26.63 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 37.79 8,960.67 58.53 26.63 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -2.34 -0.20 -35 -16 -43 -28 -27 -22 -4.94 116 -31
Invested Capital Turnover		 0.00 0.00 -1.15 -1.21 -0.01 -0.80 -0.99 -1.09 -4.50 7.81 1.08
Increase / (Decrease) in Invested Capital		 -2.34 2.13 -35 18 -27 15 1.33 5.13 17 121 -147
Enterprise Value (EV)		 0.00 280 271 34 69 463 1,305 299 981 1,741 4,814
Market Capitalization		 0.00 368 426 163 192 771 1,632 537 1,323 2,300 5,460
Book Value per Share		 ($108.85) $5.24 $5.89 $4.65 $2.94 $7.31 $6.29 $4.38 $5.84 $11.33 $9.83
Tangible Book Value per Share		 ($108.85) $5.24 $5.89 $4.65 $2.94 $7.31 $6.29 $4.38 $5.84 $11.33 $9.83
Total Capital		 9.60 88 121 113 90 280 300 216 337 675 615
Total Debt		 0.00 0.00 0.00 0.00 9.79 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 9.79 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -12 -88 -155 -129 -123 -308 -327 -237 -342 -559 -646
Capital Expenditures (CapEx)		 0.40 0.35 0.67 0.49 0.97 0.47 1.10 0.80 0.61 1.36 1.59
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -15 -0.80 -36 -18 -23 -30 -30 -25 -7.31 125 -35
Debt-free Net Working Capital (DFNWC)		 -3.13 77 108 111 110 275 297 212 334 544 532
Net Working Capital (NWC)		 -3.13 77 108 111 110 275 297 212 334 544 532
Net Nonoperating Expense (NNE)		 4.50 14 10 9.34 21 21 37 35 13 -26 19
Net Nonoperating Obligations (NNO)		 -12 -88 -155 -129 -123 -308 -327 -237 -342 -559 -646
Total Depreciation and Amortization (D&A)		 0.24 0.43 1.09 0.73 1.93 2.76 4.61 2.82 -1.26 -5.98 -5.94
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% -177.54% -56.65% -10,009.52% -106.38% -110.32% -95.77% -12.19% 28.85% -76.56%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 540.26% 360.05% 47,577.92% 961.87% 1,084.62% 797.18% 557.17% 125.28% 1,156.41%
Net Working Capital to Revenue		 0.00% 0.00% 540.26% 360.05% 47,577.92% 961.87% 1,084.62% 797.18% 557.17% 125.28% 1,156.41%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($59.32) ($5.80) ($2.09) ($1.74) ($2.98) ($1.92) ($2.71) ($2.60) ($1.39) $4.47 ($2.05)
Adjusted Weighted Average Basic Shares Outstanding		 251.72K 16.79M 21.10M 23.35M 27.29M 43.81M 48.41M 49.04M 56.76M 61.57M 63.57M
Adjusted Diluted Earnings per Share		 ($59.32) ($5.80) ($2.09) ($1.74) ($2.98) ($1.92) ($2.71) ($2.60) ($1.39) $4.23 ($2.05)
Adjusted Weighted Average Diluted Shares Outstanding		 251.72K 16.79M 21.10M 23.35M 27.29M 43.81M 48.41M 49.04M 56.76M 65.08M 63.57M
Adjusted Basic & Diluted Earnings per Share		 ($59.32) ($5.80) ($2.09) ($1.74) ($2.98) ($1.92) ($2.71) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 251.72K 6.50M 17.69M 22.36M 25.89M 34.40M 46.32M 51.28M 58.27M 61.38M 63.81M
Normalized Net Operating Profit after Tax (NOPAT)		 -10 -23 -27 -30 -56 -45 -88 -92 -66 249 -111
Normalized NOPAT Margin		 0.00% 0.00% -132.22% -95.68% -24,400.30% -157.75% -322.01% -345.97% -109.26% 57.32% -240.54%
Pre Tax Income Margin		 0.00% 0.00% -184.20% -128.45% -33,713.42% -226.51% -458.94% -479.26% -131.59% 64.32% -281.01%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 -476.46 -54.57 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 -333.52 -38.18 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -482.18 -54.97 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -339.24 -38.57 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Protagonist Therapeutics

This table displays calculated financial ratios and metrics derived from Protagonist Therapeutics' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 63,808,716.00 64,311,373.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 63,808,716.00 64,311,373.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.06 2.53
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 184.40% -88.89% 33.09% 0.79% -95.64% 99.03% 3,749.17%
EBITDA Growth		 161.82% 660.86% 7.17% -12.89% 451.83% -110.38% -8.72% -8.63% -141.43% 80.20% 462.34%
EBIT Growth		 163.36% 669.61% 8.68% -7.70% 449.13% -109.32% -8.55% -12.29% -139.81% 81.30% 477.78%
NOPAT Growth		 190.17% 905.29% 8.41% -8.16% 441.86% -106.66% -8.37% -11.98% -128.22% 55.24% 632.09%
Net Income Growth		 179.94% 714.80% 20.40% 2.62% 381.70% -105.62% -13.57% -18.46% -133.71% 132.46% 568.35%
EPS Growth		 178.26% 586.57% 26.47% 6.90% 272.22% -105.83% -10.00% -14.81% -134.33% 126.32% 516.36%
Operating Cash Flow Growth		 153.61% 20.14% 1,123.79% -4.70% -272.04% 557.05% -110.71% 93.05% -26.72% -139.04% 861.13%
Free Cash Flow Firm Growth		 120.34% -249.16% 122.30% 105.86% -38.76% 572.38% -1,130.00% -2,964.96% 2,834.65% -121.45% 302.98%
Invested Capital Growth		 77.28% 1,729.72% -179.94% -149.51% 2,450.81% -103.71% 90.87% 35.01% -126.95% 498.18% -60.08%
Revenue Q/Q Growth		 0.00% 324.92% -98.37% 12.19% 3,550.01% -83.40% -80.42% -15.04% 57.83% 657.94% 278.72%
EBITDA Q/Q Growth		 158.59% 810.20% -119.21% -10.23% 386.39% -117.08% -104.98% -9.39% -7.81% 91.81% 3,851.15%
EBIT Q/Q Growth		 160.21% 793.30% -118.76% -6.76% 406.96% -115.16% -118.46% -10.43% -8.82% 92.88% 4,514.05%
NOPAT Q/Q Growth		 185.91% 1,158.51% -113.37% -6.86% 530.41% -110.82% -117.72% -10.42% -8.47% 82.84% 2,688.17%
Net Income Q/Q Growth		 180.15% 658.51% -114.77% -8.47% 496.49% -108.85% -198.34% -13.14% -12.82% 108.52% 4,204.76%
EPS Q/Q Growth		 193.10% 503.70% -115.34% -8.00% 472.22% -109.45% -189.47% -12.73% -11.29% 107.25% 4,480.00%
Operating Cash Flow Q/Q Growth		 163.73% -261.73% 1,079.34% -110.37% -4.72% 529.65% -122.96% 93.27% -1,808.88% -32.37% 547.57%
Free Cash Flow Firm Q/Q Growth		 120.76% -7,235.99% 115.47% -76.91% 116.95% 5,998.56% -133.72% 35.79% 322.23% -144.59% 419.02%
Invested Capital Q/Q Growth		 76.00% 4,913.95% -122.76% 5.09% 326.08% -107.60% 44.02% -575.77% 6.25% 212.28% -122.50%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 37.63% 80.60% -947.11% -930.55% 73.01% -75.13% -786.42% -1,012.54% -691.66% -7.47% 74.03%
Operating Margin		 38.42% 80.92% -930.96% -886.70% 74.30% -68.18% -758.04% -985.17% -677.09% -6.47% 74.37%
EBIT Margin		 38.49% 80.91% -928.63% -883.68% 74.32% -67.89% -757.39% -984.47% -678.75% -6.38% 74.33%
Profit (Net Income) Margin		 45.56% 81.32% -734.73% -710.37% 77.17% -41.15% -626.96% -834.87% -596.80% 6.71% 76.28%
Tax Burden Percent		 100.00% 98.42% 97.84% 98.75% 98.51% 100.00% 100.50% 100.00% 101.52% 165.85% 98.63%
Interest Burden Percent		 118.37% 102.12% 80.87% 81.40% 105.40% 60.61% 82.37% 84.80% 86.61% -63.45% 104.05%
Effective Tax Rate		 0.00% 1.58% 0.00% 0.00% 1.49% 0.00% 0.00% 0.00% 0.00% -65.85% 1.37%
Return on Invested Capital (ROIC)		 0.00% 224.75% 0.00% 0.00% 571.94% -86.63% 0.00% 0.00% -514.17% -60.42% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 223.20% 0.00% 0.00% 570.43% -86.99% 0.00% 0.00% -512.65% -61.91% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -159.05% 0.00% 0.00% -507.75% 71.05% 0.00% 0.00% 478.94% 60.70% 0.00%
Return on Equity (ROE)		 -28.59% 65.70% 40.69% 40.97% 64.18% -15.58% 8.61% 7.80% -35.23% 0.28% 10.98%
Cash Return on Invested Capital (CROIC)		 0.00% -43.62% 0.00% 0.00% 110.18% 0.00% 0.00% 0.00% 0.00% -408.92% 0.00%
Operating Return on Assets (OROA)		 7.62% 58.64% -633.83% -612.78% 58.56% -20.57% -237.77% -315.53% -44.21% -0.66% 26.14%
Return on Assets (ROA)		 9.02% 58.94% -501.48% -492.61% 60.80% -12.47% -196.82% -267.58% -38.87% 0.69% 26.83%
Return on Common Equity (ROCE)		 -28.59% 65.70% 40.69% 40.97% 64.18% -15.58% 8.61% 7.80% -35.23% 0.28% 10.98%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 28.93% 31.40% 32.12% 0.00% 8.16% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 23 203 -27 -29 125 -14 -29 -32 -35 -6.05 157
NOPAT Margin		 38.42% 79.64% -651.67% -620.69% 73.19% -47.73% -530.63% -689.62% -473.96% -10.73% 73.35%
Net Nonoperating Expense Percent (NNEP)		 1.48% 1.55% -0.76% -0.93% 1.51% 0.36% -0.84% -1.08% -1.52% 1.49% 0.82%
Return On Investment Capital (ROIC_SIMPLE)		 6.85% - - - 18.49% -1.96% -4.41% -5.03% -5.73% -0.92% 18.61%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 13.42% 5.85% 226.54% 217.28% 5.25% 41.45% 190.25% 236.21% 153.74% 23.55% 5.92%
R&D to Revenue		 48.17% 13.23% 804.42% 769.41% 20.46% 126.74% 667.80% 848.96% 623.34% 82.92% 19.70%
Operating Expenses to Revenue		 61.59% 19.08% 1,030.96% 986.70% 25.70% 168.18% 858.04% 1,085.17% 777.09% 106.47% 25.63%
Earnings before Interest and Taxes (EBIT)		 23 206 -39 -41 127 -19 -42 -46 -50 -3.60 159
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 23 205 -39 -44 125 -21 -44 -48 -51 -4.21 158
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.93 2.98 3.75 4.98 3.41 4.31 5.13 6.40 8.88 10.26 9.37
Price to Tangible Book Value (P/TBV)		 3.93 2.98 3.75 4.98 3.41 4.31 5.13 6.40 8.88 10.26 9.37
Price to Revenue (P/Rev)		 22.04 5.30 6.37 8.19 5.30 14.29 16.38 19.75 118.66 90.81 27.96
Price to Earnings (P/E)		 0.00 10.29 11.96 15.51 8.36 52.83 65.83 90.02 0.00 0.00 95.08
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 9.72% 8.36% 6.45% 11.96% 1.89% 1.52% 1.11% 0.00% 0.00% 1.05%
Enterprise Value to Invested Capital (EV/IC)		 0.00 5.66 0.00 0.00 14.99 0.00 0.00 0.00 0.00 173.74 0.00
Enterprise Value to Revenue (EV/Rev)		 16.35 4.27 4.50 6.39 4.01 10.93 13.16 16.51 104.62 82.43 24.94
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 9.15 9.57 14.25 7.05 108.52 157.97 253.33 0.00 0.00 128.65
Enterprise Value to EBIT (EV/EBIT)		 0.00 9.05 9.43 13.84 6.88 82.35 113.44 179.98 0.00 0.00 120.81
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 9.05 9.44 13.86 6.99 84.73 118.66 190.26 0.00 0.00 122.64
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 6.21 8.98 9.46 6.74 69.62 52.76 83.48 0.00 53.61
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 7.68 11.49 13.61 8.30 0.00 20,303.49 131.05 0.00 116.61
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.05 -0.71 -1.09 -1.09 -0.89 -0.82 -1.05 -1.07 -0.93 -0.98 -1.01
Leverage Ratio		 1.10 1.12 1.12 1.12 1.09 1.10 1.10 1.11 1.10 1.07 1.06
Compound Leverage Factor		 1.30 1.14 0.91 0.91 1.15 0.67 0.91 0.94 0.95 -0.68 1.11
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 36.39 16.34 16.98 22.18 21.26 34.01 41.41 44.24 61.05 96.26 108.97
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 16.71 15.72 13.73 10.70 12.48 17.26 16.97 13.05 12.71 17.76 21.71
Quick Ratio		 16.06 8.08 13.56 10.51 8.84 16.36 16.07 12.83 12.49 17.41 21.41
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 6.24 -49 7.63 1.76 3.82 233 -79 -50 112 -50 160
Operating Cash Flow to CapEx		 89,263.16% -11,334.30% 959,364.29% -3,595.23% -9,412.26% 23,002.39% -3,539.98% -2,201.14% -25,677.08% -22,764.19% 130,388.10%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.20 0.72 0.68 0.69 0.79 0.30 0.31 0.32 0.07 0.10 0.35
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 43.48 256.89 209.74 166.52 198.15 89.55 71.05 63.71 13.05 20.27 74.56
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -4.94 238 -54 -51 116 -8.83 -4.94 -33 -31 35 -7.91
Invested Capital Turnover		 -4.50 2.82 -8.69 -9.00 7.81 1.82 -7.08 -4.94 1.08 5.63 -43.90
Increase / (Decrease) in Invested Capital		 17 252 -35 -31 121 -247 49 18 -147 44 -2.97
Enterprise Value (EV)		 981 1,346 1,437 2,067 1,741 2,271 2,753 3,454 4,814 6,105 7,034
Market Capitalization		 1,323 1,669 2,032 2,651 2,300 2,969 3,426 4,133 5,460 6,725 7,883
Book Value per Share		 $5.84 $9.21 $9.23 $9.03 $11.33 $11.23 $10.78 $10.37 $9.83 $10.27 $13.09
Tangible Book Value per Share		 $5.84 $9.21 $9.23 $9.03 $11.33 $11.23 $10.78 $10.37 $9.83 $10.27 $13.09
Total Capital		 337 560 541 532 675 689 668 645 615 655 842
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -342 -323 -595 -583 -559 -698 -673 -679 -646 -620 -849
Capital Expenditures (CapEx)		 0.02 0.24 0.03 0.78 0.31 0.55 0.81 0.09 0.14 0.22 0.17
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -7.31 265 -35 -37 125 -3.61 -3.45 -35 -35 31 -13
Debt-free Net Working Capital (DFNWC)		 334 588 529 432 544 571 567 541 532 579 770
Net Working Capital (NWC)		 334 588 529 432 544 571 567 541 532 579 770
Net Nonoperating Expense (NNE)		 -4.29 -4.29 3.46 4.19 -6.78 -1.86 5.34 6.84 9.14 -9.83 -6.26
Net Nonoperating Obligations (NNO)		 -342 -323 -595 -583 -559 -698 -673 -679 -646 -620 -849
Total Depreciation and Amortization (D&A)		 -0.52 -0.80 -0.77 -2.19 -2.22 -2.05 -1.61 -1.32 -0.96 -0.62 -0.65
Debt-free, Cash-free Net Working Capital to Revenue		 -12.19% 84.14% -10.86% -11.28% 28.85% -1.74% -1.65% -16.55% -76.56% 42.02% -4.47%
Debt-free Net Working Capital to Revenue		 557.17% 186.58% 165.88% 133.48% 125.28% 274.66% 271.07% 258.81% 1,156.41% 781.64% 273.05%
Net Working Capital to Revenue		 557.17% 186.58% 165.88% 133.48% 125.28% 274.66% 271.07% 258.81% 1,156.41% 781.64% 273.05%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.54 $3.41 ($0.50) ($0.54) $2.10 ($0.19) ($0.55) ($0.62) ($0.69) $0.06 $2.47
Adjusted Weighted Average Basic Shares Outstanding		 56.76M 60.86M 61.31M 61.77M 61.57M 62.96M 63.51M 63.77M 63.57M 65.09M 65.94M
Adjusted Diluted Earnings per Share		 $0.54 $3.26 ($0.50) ($0.54) $2.01 ($0.19) ($0.55) ($0.62) ($0.69) $0.05 $2.29
Adjusted Weighted Average Diluted Shares Outstanding		 56.76M 63.60M 61.31M 61.77M 65.08M 62.96M 63.51M 63.77M 63.57M 70.49M 71.01M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 58.27M 58.65M 58.90M 59.60M 61.38M 61.98M 62.21M 62.52M 63.81M 64.31M 64.71M
Normalized Net Operating Profit after Tax (NOPAT)		 16 203 -27 -29 125 -14 -29 -32 -35 -2.55 157
Normalized NOPAT Margin		 26.89% 79.64% -651.67% -620.69% 73.19% -47.73% -530.63% -689.62% -473.96% -4.53% 73.35%
Pre Tax Income Margin		 45.56% 82.63% -750.95% -719.36% 78.33% -41.15% -623.86% -834.87% -587.84% 4.05% 77.35%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Protagonist Therapeutics’ Q2 2026 statements show a sharp improvement in reported profitability and liquidity, although the results remain highly dependent on volatile revenue. Revenue increased to $213.5 million from $56.4 million in Q1 2026, $7.4 million in Q4 2025, and $4.7 million in Q3 2025. With no cost of revenue reported, gross profit also totaled $213.5 million. Operating income reached $158.8 million, compared with operating losses in each of the prior three quarters.

Net income was $162.8 million, or $2.47 per basic share, versus net income of $3.8 million in Q1 2026 and losses of $44.4 million and $39.3 million in Q4 and Q3 2025, respectively. The Q2 result was supported by $6.4 million of interest and investment income, but the primary change was the significant increase in revenue. Investors should consider whether this revenue level is recurring, as Protagonist’s quarterly revenue has fluctuated considerably over the reported period.

Cash generation also improved substantially in the latest quarter. Operating cash flow was $219.1 million in Q2 2026, compared with negative operating cash flow of $48.9 million in Q1 and $37.0 million in Q4 2025. Cash and equivalents rose to $420.1 million from $193.7 million at the end of Q1, while short-term investments totaled $362.5 million and long-term investments totaled $66.9 million. Total liabilities were only $44.0 million, leaving the company with substantial liquidity and no reported debt balance.

  • Strong Q2 revenue rebound: Revenue of $213.5 million was nearly four times Q1 2026 revenue and substantially higher than the sub-$10 million quarterly levels reported in Q3 and Q4 2025.
  • Return to operating profitability: Operating income was $158.8 million in Q2 2026, reversing operating losses of $3.6 million in Q1 2026, $50.4 million in Q4 2025, and $46.4 million in Q3 2025.
  • Positive operating cash flow: Operating activities generated $219.1 million in Q2, a significant improvement from the $48.9 million operating cash outflow in Q1 2026.
  • Large liquidity position: Cash, short-term investments, and long-term investments totaled approximately $849.5 million at June 30, 2026, compared with approximately $620.3 million at March 31, 2026.
  • Low financial leverage: Total liabilities were $44.0 million against $885.5 million of assets and $841.5 million of equity. The balance sheet shows no outstanding debt issuance in the latest quarter.
  • Improved accumulated equity: Retained earnings improved to a deficit of $304.0 million from a deficit of $466.9 million in Q1 2026 and $643.0 million in Q3 2023, reflecting cumulative profitability and other equity changes over the period.
  • Investment income remains meaningful: Interest and investment income was $6.4 million in Q2 2026. This provides support while the company holds substantial cash, but the amount may change with cash balances and interest rates.
  • Investment portfolio activity is high: The company purchased $134.7 million and sold or received maturities of $132.4 million of investments in Q2, resulting in only a $2.4 million net investing cash outflow.
  • Revenue remains volatile: Quarterly revenue declined from $255.0 million in Q1 2024 and $170.6 million in Q4 2024 to $4.2 million in Q2 2024, $4.7 million in Q3 2025, and $7.4 million in Q4 2025 before the latest rebound. This makes future earnings difficult to project.
  • Underlying research spending remains significant: Research and development expense was $42.1 million in Q2 2026, while SG&A expense was $12.6 million. If large revenue or collaboration receipts do not continue, these expenses could return the company to operating cash burn.
  • Share dilution has accumulated: Basic weighted-average shares increased from approximately 49.1 million in Q3 2022 to 65.9 million in Q2 2026. The company also issued $9.7 million of common equity in Q2 and $23.4 million in Q1, which may reduce per-share participation in future results.
09/10/26 02:23 PM ETAI Generated. May Contain Errors.

Protagonist Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Protagonist Therapeutics' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Protagonist Therapeutics' net income appears to be on a downward trend, with a most recent value of -$130.15 million in 2025, rising from -$14.86 million in 2015. The previous period was $275.19 million in 2024. Find out what analysts predict for Protagonist Therapeutics in the coming months.

Protagonist Therapeutics' total operating income in 2025 was -$158.13 million, based on the following breakdown:
  • Total Gross Profit: $46.02 million
  • Total Operating Expenses: $204.14 million

Over the last 10 years, Protagonist Therapeutics' total revenue changed from $0.00 in 2015 to $46.02 million in 2025, a change of 4,601,600,000.0%.

Protagonist Therapeutics' total liabilities were at $53.48 million at the end of 2025, a 23.0% decrease from 2024, and a 918.9% increase since 2015.

In the past 10 years, Protagonist Therapeutics' cash and equivalents has ranged from $4.06 million in 2015 to $186.73 million in 2023, and is currently $128.39 million as of their latest financial filing in 2025.

Over the last 10 years, Protagonist Therapeutics' book value per share changed from -108.85 in 2015 to 9.83 in 2025, a change of -109.0%.


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Financial statements for NASDAQ:PTGX last updated on 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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