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Protagonist Therapeutics (PTGX) Financials

Protagonist Therapeutics logo
$99.19 0.00 (0.00%)
Closing price 05/22/2026 04:00 PM Eastern
Extended Trading
$99.10 -0.08 (-0.09%)
As of 05/22/2026 06:47 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 -34 27 207 -31 -33 132 -12 -35 -39 -44 3.78
Consolidated Net Income / (Loss)		 -34 27 207 -31 -33 132 -12 -35 -39 -44 3.78
Net Income / (Loss) Continuing Operations		 -34 27 207 -31 -33 132 -12 -35 -39 -44 3.78
Total Pre-Tax Income 		-34 27 211 -31 -34 134 -12 -35 -39 -44 2.28
Total Operating Income		 -38 23 206 -39 -41 127 -19 -42 -46 -50 -3.65
Total Gross Profit		 0.00 60 255 4.17 4.68 171 28 5.55 4.71 7.44 56
Total Revenue		 0.00 60 255 4.17 4.68 171 28 5.55 4.71 7.44 56
Operating Revenue		 0.00 60 255 4.17 4.68 171 28 5.55 4.71 7.44 56
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 38 37 49 43 46 44 48 48 51 58 60
Selling, General & Admin Expense		 7.66 8.05 15 9.44 10 8.95 12 11 11 11 13
Research & Development Expense		 31 29 34 34 36 35 36 37 40 46 47
Total Other Income / (Expense), net		 4.22 4.29 4.36 7.50 7.82 6.88 7.66 7.44 7.08 6.64 5.93
Interest & Investment Income		 4.25 4.24 4.38 7.40 7.68 6.85 7.57 7.41 7.05 6.76 5.88
Other Income / (Expense), net		 -0.03 0.04 -0.02 0.10 0.14 0.03 0.08 0.04 0.03 -0.12 0.05
Income Tax Expense		 0.00 - 3.33 -0.68 -0.42 1.99 0.00 0.17 0.00 0.67 -1.50
Basic Earnings per Share		 ($0.58) $0.54 $3.41 ($0.50) ($0.54) $2.10 ($0.19) ($0.55) ($0.62) ($0.69) $0.06
Weighted Average Basic Shares Outstanding		 59.18M 56.76M 60.86M 61.31M 61.77M 61.57M 62.96M 63.51M 63.77M 63.57M 65.09M
Diluted Earnings per Share		 ($0.58) $0.54 $3.26 ($0.50) ($0.54) $2.01 ($0.19) ($0.55) ($0.62) ($0.69) $0.05
Weighted Average Diluted Shares Outstanding		 59.18M 56.76M 63.60M 61.31M 61.77M 65.08M 62.96M 63.51M 63.77M 63.57M 70.49M
Weighted Average Basic & Diluted Shares Outstanding		 57.68M 58.27M 58.65M 58.90M 59.60M 61.38M 61.98M 62.21M 62.52M 63.81M 64.31M

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents		 -4.86 -44 -14 183 -225 -34 42 29 -55 15 65
Net Cash From Operating Activities		 -27 17 -27 269 -28 -29 125 -29 -1.94 -37 -49
Net Cash From Continuing Operating Activities		 -27 17 -27 269 -28 -29 125 -29 -1.94 -37 -49
Net Income / (Loss) Continuing Operations		 -34 27 207 -31 -33 132 -12 -35 -39 -44 3.78
Consolidated Net Income / (Loss)		 -34 27 207 -31 -33 132 -12 -35 -39 -44 3.78
Depreciation Expense		 0.24 0.25 0.24 0.24 0.23 0.12 0.24 0.30 0.36 0.38 0.41
Amortization Expense		 -0.42 -0.76 -1.62 -1.01 -2.42 -2.34 -2.29 -1.91 -1.68 -1.34 -1.03
Non-Cash Adjustments To Reconcile Net Income		 6.77 6.60 -280 8.94 10 9.09 157 12 32 12 -39
Changes in Operating Assets and Liabilities, net		 0.91 -16 47 291 -2.63 -168 -17 -4.52 6.46 -3.14 -14
Net Cash From Investing Activities		 -14 -61 6.07 -88 -209 -8.73 -94 55 -59 49 91
Net Cash From Continuing Investing Activities		 -14 -61 6.07 -88 -209 -8.73 -94 55 -59 49 91
Purchase of Property, Plant & Equipment		 -0.40 -0.02 -0.24 -0.03 -0.78 -0.31 -0.55 -0.81 -0.09 -0.14 -0.22
Purchase of Investments		 -59 -98 -66 -175 -267 -114 -214 -67 -161 -104 -69
Sale and/or Maturity of Investments		 46 37 72 87 59 106 120 123 103 153 160
Net Cash From Financing Activities		 35 0.53 7.20 2.57 12 4.03 11 2.93 5.66 2.84 23
Net Cash From Continuing Financing Activities		 35 0.53 7.20 2.57 12 4.03 11 2.93 5.66 2.84 23
Issuance of Common Equity		 0.94 0.53 7.80 2.57 12 4.03 12 2.93 5.66 2.84 23
Other Financing Activities, net		 34 - -0.60 - - - -0.48 - - - 0.00

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
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 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 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
Total Assets		 282 240 320 330 629 615 604 742 718 702 697
Total Current Assets		 277 236 317 325 628 571 477 606 603 586 613
Cash & Equivalents		 153 128 235 231 173 356 131 140 169 114 194
Short-Term Investments		 115 103 78 90 150 208 338 435 402 462 354
Note & Lease Receivable		 - - - - - - - 0.00 0.00 0.58 54
Prepaid Expenses		 9.06 4.93 3.50 4.13 4.88 6.89 8.05 8.68 8.70 9.72 12
Plant, Property, & Equipment, net		 1.78 1.34 1.26 1.42 1.11 1.78 2.47 3.53 4.11 4.10 3.78
Total Noncurrent Assets		 3.77 2.78 2.26 3.71 0.61 42 125 133 111 111 80
Long-Term Investments		 - - - 1.99 - 31 115 124 102 103 73
Other Noncurrent Operating Assets		 3.77 2.78 2.26 1.73 0.61 10 10 9.23 8.88 8.46 7.68
Total Liabilities & Shareholders' Equity		 282 240 320 330 629 615 604 742 718 702 697
Total Liabilities		 39 24 26 28 69 73 72 53 50 56 42
Total Current Liabilities		 37 23 26 28 40 42 45 35 36 45 35
Accounts Payable		 34 21 24 26 20 19 24 15 19 29 26
Current Deferred Revenue		 0.00 0.00 0.00 0.00 16 20 20 17 15 14 6.28
Other Current Liabilities		 2.43 2.60 2.45 1.80 0.47 0.00 0.05 1.57 2.17 2.23 2.34
Total Noncurrent Liabilities		 1.80 0.46 0.00 0.00 29 32 27 18 14 11 7.44
Other Noncurrent Operating Liabilities		 1.80 0.46 0.00 0.00 - 11 11 9.79 9.11 8.52 7.44
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		 244 216 294 302 560 541 532 689 668 645 655
Total Preferred & Common Equity		 244 216 294 302 560 541 532 689 668 645 655
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		 244 216 294 302 560 541 532 689 668 645 655
Common Stock		 747 787 903 945 969 981 1,003 1,041 1,055 1,071 1,123
Retained Earnings		 -503 -570 -609 -643 -408 -439 -472 -352 -387 -426 -467
Accumulated Other Comprehensive Income / (Loss)		 -0.48 -0.12 -0.20 -0.17 -0.23 -0.25 1.34 0.09 -0.02 0.53 -0.27

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
DEI Shares Outstanding		 - - - - - - - - - - 63,808,716.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 63,808,716.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.06
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 184.40% -88.89% 33.09% 0.79% -95.64% 99.03%
EBITDA Growth		 -21.85% 161.82% 660.86% 7.17% -12.89% 451.83% -110.38% -8.72% -8.63% -141.43% 80.20%
EBIT Growth		 -18.43% 163.36% 669.61% 8.68% -7.70% 449.13% -109.32% -8.55% -12.29% -139.81% 81.30%
NOPAT Growth		 -18.65% 190.17% 905.29% 8.41% -8.16% 441.86% -106.66% -8.37% -11.98% -128.22% 55.24%
Net Income Growth		 -9.20% 179.94% 714.80% 20.40% 2.62% 381.70% -105.62% -13.57% -18.46% -133.71% 132.46%
EPS Growth		 9.38% 178.26% 586.57% 26.47% 6.90% 272.22% -105.83% -10.00% -14.81% -134.33% 126.32%
Operating Cash Flow Growth		 -5.60% 153.61% 20.14% 1,123.79% -4.70% -272.04% 557.05% -110.71% 93.05% -26.72% -139.04%
Free Cash Flow Firm Growth		 -39.17% 120.34% -249.16% 122.30% 105.86% -38.76% 572.38% -1,130.00% -2,964.96% 2,834.65% -121.45%
Invested Capital Growth		 13.58% 77.28% 1,729.72% -179.94% -149.51% 2,450.81% -103.71% 90.87% 35.01% -126.95% 498.18%
Revenue Q/Q Growth		 0.00% 0.00% 324.92% -98.37% 12.19% 3,550.01% -83.40% -80.42% -15.04% 57.83% 657.94%
EBITDA Q/Q Growth		 9.35% 158.59% 810.20% -119.21% -10.23% 386.39% -117.08% -104.98% -9.39% -7.81% 91.81%
EBIT Q/Q Growth		 9.48% 160.21% 793.30% -118.76% -6.76% 406.96% -115.16% -118.46% -10.43% -8.82% 92.88%
NOPAT Q/Q Growth		 9.51% 185.91% 1,158.51% -113.37% -6.86% 530.41% -110.82% -117.72% -10.42% -8.47% 82.84%
Net Income Q/Q Growth		 11.32% 180.15% 658.51% -114.77% -8.47% 496.49% -108.85% -198.34% -13.14% -12.82% 108.52%
EPS Q/Q Growth		 14.71% 193.10% 503.70% -115.34% -8.00% 472.22% -109.45% -189.47% -12.73% -11.29% 107.25%
Operating Cash Flow Q/Q Growth		 -1.42% 163.73% -261.73% 1,079.34% -110.37% -4.72% 529.65% -122.96% 93.27% -1,808.88% -32.37%
Free Cash Flow Firm Q/Q Growth		 12.17% 120.76% -7,235.99% 115.47% -76.91% 116.95% 5,998.56% -133.72% 35.79% 322.23% -144.59%
Invested Capital Q/Q Growth		 -6.49% 76.00% 4,913.95% -122.76% 5.09% 326.08% -107.60% 44.02% -575.77% 6.25% 212.28%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.00% 37.63% 80.60% -947.11% -930.55% 73.01% -75.13% -786.42% -1,012.54% -691.66% -7.47%
Operating Margin		 0.00% 38.42% 80.92% -930.96% -886.70% 74.30% -68.18% -758.04% -985.17% -677.09% -6.47%
EBIT Margin		 0.00% 38.49% 80.91% -928.63% -883.68% 74.32% -67.89% -757.39% -984.47% -678.75% -6.38%
Profit (Net Income) Margin		 0.00% 45.56% 81.32% -734.73% -710.37% 77.17% -41.15% -626.96% -834.87% -596.80% 6.71%
Tax Burden Percent		 100.00% 100.00% 98.42% 97.84% 98.75% 98.51% 100.00% 100.50% 100.00% 101.52% 165.85%
Interest Burden Percent		 88.91% 118.37% 102.12% 80.87% 81.40% 105.40% 60.61% 82.37% 84.80% 86.61% -63.45%
Effective Tax Rate		 0.00% 0.00% 1.58% 0.00% 0.00% 1.49% 0.00% 0.00% 0.00% 0.00% -65.85%
Return on Invested Capital (ROIC)		 0.00% 0.00% 224.75% 0.00% 0.00% 571.94% -86.63% 0.00% 0.00% -514.17% -60.42%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 223.20% 0.00% 0.00% 570.43% -86.99% 0.00% 0.00% -512.65% -61.91%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% -159.05% 0.00% 0.00% -507.75% 71.05% 0.00% 0.00% 478.94% 60.70%
Return on Equity (ROE)		 -51.48% -28.59% 65.70% 40.69% 40.97% 64.18% -15.58% 8.61% 7.80% -35.23% 0.28%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -43.62% 0.00% 0.00% 110.18% 0.00% 0.00% 0.00% 0.00% -408.92%
Operating Return on Assets (OROA)		 0.00% 7.62% 58.64% -633.83% -612.78% 58.56% -20.57% -237.77% -315.53% -44.21% -0.66%
Return on Assets (ROA)		 0.00% 9.02% 58.94% -501.48% -492.61% 60.80% -12.47% -196.82% -267.58% -38.87% 0.69%
Return on Common Equity (ROCE)		 -51.48% -28.59% 65.70% 40.69% 40.97% 64.18% -15.58% 8.61% 7.80% -35.23% 0.28%
Return on Equity Simple (ROE_SIMPLE)		 -46.49% 0.00% 28.93% 31.40% 32.12% 0.00% 8.16% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -27 23 203 -27 -29 125 -14 -29 -32 -35 -6.05
NOPAT Margin		 0.00% 38.42% 79.64% -651.67% -620.69% 73.19% -47.73% -530.63% -689.62% -473.96% -10.73%
Net Nonoperating Expense Percent (NNEP)		 -2.47% 1.48% 1.55% -0.76% -0.93% 1.51% 0.36% -0.84% -1.08% -1.52% 1.49%
Return On Investment Capital (ROIC_SIMPLE)		 - 6.85% - - - 18.49% -1.96% -4.41% -5.03% -5.73% -0.92%
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% 13.42% 5.85% 226.54% 217.28% 5.25% 41.45% 190.25% 236.21% 153.74% 23.55%
R&D to Revenue		 0.00% 48.17% 13.23% 804.42% 769.41% 20.46% 126.74% 667.80% 848.96% 623.34% 82.92%
Operating Expenses to Revenue		 0.00% 61.59% 19.08% 1,030.96% 986.70% 25.70% 168.18% 858.04% 1,085.17% 777.09% 106.47%
Earnings before Interest and Taxes (EBIT)		 -38 23 206 -39 -41 127 -19 -42 -46 -50 -3.60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -39 23 205 -39 -44 125 -21 -44 -48 -51 -4.21
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.18 3.93 2.98 3.75 4.98 3.41 4.31 5.13 6.40 8.88 10.26
Price to Tangible Book Value (P/TBV)		 3.18 3.93 2.98 3.75 4.98 3.41 4.31 5.13 6.40 8.88 10.26
Price to Revenue (P/Rev)		 0.00 22.04 5.30 6.37 8.19 5.30 14.29 16.38 19.75 118.66 90.81
Price to Earnings (P/E)		 0.00 0.00 10.29 11.96 15.51 8.36 52.83 65.83 90.02 0.00 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% 9.72% 8.36% 6.45% 11.96% 1.89% 1.52% 1.11% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 5.66 0.00 0.00 14.99 0.00 0.00 0.00 0.00 173.74
Enterprise Value to Revenue (EV/Rev)		 0.00 16.35 4.27 4.50 6.39 4.01 10.93 13.16 16.51 104.62 82.43
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 9.15 9.57 14.25 7.05 108.52 157.97 253.33 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 9.05 9.43 13.84 6.88 82.35 113.44 179.98 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 9.05 9.44 13.86 6.99 84.73 118.66 190.26 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 6.21 8.98 9.46 6.74 69.62 52.76 83.48 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 7.68 11.49 13.61 8.30 0.00 20,303.49 131.05 0.00
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		 -1.08 -1.05 -0.71 -1.09 -1.09 -0.89 -0.82 -1.05 -1.07 -0.93 -0.98
Leverage Ratio		 1.12 1.10 1.12 1.12 1.12 1.09 1.10 1.10 1.11 1.10 1.07
Compound Leverage Factor		 1.00 1.30 1.14 0.91 0.91 1.15 0.67 0.91 0.94 0.95 -0.68
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		 18.63 36.39 16.34 16.98 22.18 21.26 34.01 41.41 44.24 61.05 96.26
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		 11.66 16.71 15.72 13.73 10.70 12.48 17.26 16.97 13.05 12.71 17.76
Quick Ratio		 11.51 16.06 8.08 13.56 10.51 8.84 16.36 16.07 12.83 12.49 17.41
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -30 6.24 -49 7.63 1.76 3.82 233 -79 -50 112 -50
Operating Cash Flow to CapEx		 -6,586.88% 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%
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		 0.00 0.20 0.72 0.68 0.69 0.79 0.30 0.31 0.32 0.07 0.10
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		 0.00 43.48 256.89 209.74 166.52 198.15 89.55 71.05 63.71 13.05 20.27
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		 -21 -4.94 238 -54 -51 116 -8.83 -4.94 -33 -31 35
Invested Capital Turnover		 0.00 -4.50 2.82 -8.69 -9.00 7.81 1.82 -7.08 -4.94 1.08 5.63
Increase / (Decrease) in Invested Capital		 3.23 17 252 -35 -31 121 -247 49 18 -147 44
Enterprise Value (EV)		 637 981 1,346 1,437 2,067 1,741 2,271 2,753 3,454 4,814 6,105
Market Capitalization		 960 1,323 1,669 2,032 2,651 2,300 2,969 3,426 4,133 5,460 6,725
Book Value per Share		 $5.25 $5.84 $9.21 $9.23 $9.03 $11.33 $11.23 $10.78 $10.37 $9.83 $10.27
Tangible Book Value per Share		 $5.25 $5.84 $9.21 $9.23 $9.03 $11.33 $11.23 $10.78 $10.37 $9.83 $10.27
Total Capital		 302 337 560 541 532 675 689 668 645 615 655
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		 -323 -342 -323 -595 -583 -559 -698 -673 -679 -646 -620
Capital Expenditures (CapEx)		 0.40 0.02 0.24 0.03 0.78 0.31 0.55 0.81 0.09 0.14 0.22
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -24 -7.31 265 -35 -37 125 -3.61 -3.45 -35 -35 31
Debt-free Net Working Capital (DFNWC)		 297 334 588 529 432 544 571 567 541 532 579
Net Working Capital (NWC)		 297 334 588 529 432 544 571 567 541 532 579
Net Nonoperating Expense (NNE)		 7.28 -4.29 -4.29 3.46 4.19 -6.78 -1.86 5.34 6.84 9.14 -9.83
Net Nonoperating Obligations (NNO)		 -323 -342 -323 -595 -583 -559 -698 -673 -679 -646 -620
Total Depreciation and Amortization (D&A)		 -0.18 -0.52 -0.80 -0.77 -2.19 -2.22 -2.05 -1.61 -1.32 -0.96 -0.62
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -12.19% 84.14% -10.86% -11.28% 28.85% -1.74% -1.65% -16.55% -76.56% 42.02%
Debt-free Net Working Capital to Revenue		 0.00% 557.17% 186.58% 165.88% 133.48% 125.28% 274.66% 271.07% 258.81% 1,156.41% 781.64%
Net Working Capital to Revenue		 0.00% 557.17% 186.58% 165.88% 133.48% 125.28% 274.66% 271.07% 258.81% 1,156.41% 781.64%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.58) $0.54 $3.41 ($0.50) ($0.54) $2.10 ($0.19) ($0.55) ($0.62) ($0.69) $0.06
Adjusted Weighted Average Basic Shares Outstanding		 59.18M 56.76M 60.86M 61.31M 61.77M 61.57M 62.96M 63.51M 63.77M 63.57M 65.09M
Adjusted Diluted Earnings per Share		 ($0.58) $0.54 $3.26 ($0.50) ($0.54) $2.01 ($0.19) ($0.55) ($0.62) ($0.69) $0.05
Adjusted Weighted Average Diluted Shares Outstanding		 59.18M 56.76M 63.60M 61.31M 61.77M 65.08M 62.96M 63.51M 63.77M 63.57M 70.49M
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		 57.68M 58.27M 58.65M 58.90M 59.60M 61.38M 61.98M 62.21M 62.52M 63.81M 64.31M
Normalized Net Operating Profit after Tax (NOPAT)		 -27 16 203 -27 -29 125 -14 -29 -32 -35 -2.55
Normalized NOPAT Margin		 0.00% 26.89% 79.64% -651.67% -620.69% 73.19% -47.73% -530.63% -689.62% -473.96% -4.53%
Pre Tax Income Margin		 0.00% 45.56% 82.63% -750.95% -719.36% 78.33% -41.15% -623.86% -834.87% -587.84% 4.05%
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

Here’s a concise, data-driven look at Protagonist Therapeutics (PTGX) across the last four quarters in 2025, with key trends from the income statements, cash flow statements, and balance sheets).

  • Strong liquidity position: Across 2025, PTGX held roughly $570M in cash and short-term investments (e.g., Q1 2025: $139.7M cash + $434.7M ST investments; Q2 2025: $168.5M cash + $401.9M ST investments; Q3 2025: $113.7M cash + $462.4M ST investments). The Q3 2025 balance sheet also shows Total Current Assets of about $586.4M vs Total Current Liabilities of $44.9M, implying a current ratio around 13x.
  • Gross margin near 100% in recent quarters
  • Revenue uptick in Q4 2025: Revenue rose to $7.44M in Q4 2025, up from $4.71M in Q3 2025, indicating improving top-line momentum.
  • Large cash inflows from investing activities: Proceeds from sale/maturity of investments contributed significant liquidity in 2025 (Q1 $120.18M; Q2 $122.78M; Q3 $102.65M; Q4 $153.23M; total ~ $498.8M).
  • Ongoing high R&D and SG&A spend: R&D remains very high (e.g., Q4 2025 RD $46.36M; Q3 2025 RD $40.00M; Q2 2025 RD $37.04M; Q1 2025 RD ~$35.89M) along with SG&A (Q4 2025 SG&A $11.43M). This supports the pipeline but keeps profitability challenged.
  • Notable non-cash adjustments in cash flow (e.g., Q1 2025 non-cash adjustments around $156.6M) can inflate quarterly cash flow figures and may not reflect ongoing cash generation.
  • Valuation of share count and dilution indicators: Weighted average shares outstanding are in the mid-60 million range (e.g., Q4 2025 around 63.6M basic; ~63.6M diluted), with earnings per share negative in the period, reflecting ongoing dilution and losses.
  • Persistent net losses: Net income for 2025 quarters remains negative (Q4 2025: -$44.38M; Q3 2025: -$39.34M; Q2 2025: -$34.77M; Q1 2025: -$11.66M), indicating ongoing profitability challenges despite top-line movement.
  • Operating cash burn continues: Cash flow from operating activities is negative in most quarters (Q4 2025: -$36.98M; Q3 2025: -$1.94M; Q2 2025: -$28.78M), signaling that core operations consume cash even as investing activities provide liquidity.
  • Accumulated deficit persists: Retained earnings are negative (e.g., Q3 2025 around -$426.3M; Q2 2025 around -$386.9M), illustrating a sizable cumulative deficit that investors should monitor as R&D continues.
05/25/26 08:08 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. Check out Protagonist Therapeutics' forecast to explore projected trends and price targets.

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 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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