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Protagonist Therapeutics, Inc. (PTGX) 10-Year Financial Performance & Capital Metrics

PTGX • • Industrial / General
HealthcareBiotechnologyAutoimmune & Inflammatory DiseasesDermatology & Autoimmune
AboutProtagonist Therapeutics, Inc., a biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing rusfertide (PTG-300), an injectable hepcidin mimetic that is in Phase II clinical trials for the treatment of patients with polycythemia vera and hereditary hemochromatosis, as well as for the treatment of other blood disorders; PN-943, an oral, alpha-4-beta-7 integrin- specific antagonist peptide that is in Phase II clinical trials for treating inflammatory bowel disease (IBD); and PN-235, an orally delivered interleukin-23 receptor specific antagonist for the treatment of IBD and non-IBD indications. The company has a license and collaboration agreement with Janssen Biotech, Inc. Protagonist Therapeutics, Inc. was incorporated in 2006 and is headquartered in Newark, California.Show more
  • Revenue $434M +624.1%
  • EBITDA $254M +380.8%
  • Net Income $275M +448.5%
  • EPS (Diluted) 4.23 +404.3%
  • Gross Margin 100%
  • EBITDA Margin 58.39% +138.8%
  • Operating Margin 58.2% +137.3%
  • Net Margin 63.34% +148.1%
  • ROE 54.39% +290.2%
  • ROIC 51.25% +189.2%
  • Debt/Equity 0.02 +374.8%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓FCF machine: 42.1% free cash flow margin
  • ✓Momentum leader: RS Rating 83 (top 17%)
  • ✓Strong 5Y sales CAGR of 351.7%

✗Weaknesses

  • ✗Shares diluted 14.6% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y351.71%
3Y151.35%
TTM-35.39%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-73.13%

EPS CAGR

10Y-
5Y-
3Y-
TTM-76.69%

ROCE

10Y Avg-46.05%
5Y Avg-22.04%
3Y Avg-11.81%
Latest48.91%

Peer Comparison

Dermatology & Autoimmune
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
AUPHAurinia Pharmaceuticals Inc.1.96B14.87378.3733.97%29.28%21.28%2.25%0.21
ARGXargenx SE50.33B813.2463.6378.6%23.34%15.14%0.01
INVAInnoviva, Inc.1.48B19.7654.8915.54%32.78%12.61%12.75%0.65
GLPGGalapagos N.V.2.24B34.0330.3814.99%-151.94%-15.16%0.00
PTGXProtagonist Therapeutics, Inc.5.3B84.7520.046.24%21.94%7.11%3.45%0.02
ALMSAlumis Inc. Common Stock2.84B24.17-2.33-11.08%-63.71%0.12
PHATPhathom Pharmaceuticals, Inc.1.17B14.98-2.8380.01%-186.53%
ORKAOruka Therapeutics, Inc.1.57B32.50-6.51-22.44%0.00

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+0020.06M30.93M231K28.63M27.36M26.58M60M434.43M
Revenue Growth %---0.54%-0.99%122.93%-0.04%-0.03%1.26%6.24%
Cost of Goods Sold+247K317K00000000
COGS % of Revenue----------
Gross Profit+-247K-317K20.06M30.93M231K28.63M27.36M26.58M60M434.43M
Gross Margin %--1%1%1%1%1%1%1%1%
Gross Profit Growth %--0.28%64.29%0.54%-0.99%122.93%-0.04%-0.03%1.26%6.24%
Operating Expenses+14.79M32.67M57.96M73.19M80.75M93.14M153.2M157.95M153.65M181.59M
OpEx % of Revenue--2.89%2.37%349.58%3.25%5.6%5.94%2.56%0.42%
Selling, General & Admin2.96M6.96M11.78M13.7M15.75M18.64M27.2M31.74M33.49M43.46M
SG&A % of Revenue--0.59%0.44%68.18%0.65%0.99%1.19%0.56%0.1%
Research & Development11.83M25.7M46.18M59.5M65M75.98M126.01M126.22M120.16M138.13M
R&D % of Revenue--2.3%1.92%281.4%2.65%4.61%4.75%2%0.32%
Other Operating Expenses0-34K00-1K-1.48M0000
Operating Income+-14.79M-32.67M-37.9M-42.27M-80.52M-64.52M-125.84M-131.37M-93.65M252.84M
Operating Margin %---1.89%-1.37%-348.58%-2.25%-4.6%-4.94%-1.56%0.58%
Operating Income Growth %-0.59%-1.21%-0.16%-0.12%-0.9%0.2%-0.95%-0.04%0.29%3.7%
EBITDA+-14.55M-32.35M-37.49M-41.74M-79.82M-63.57M-123.07M-128M-90.34M253.67M
EBITDA Margin %---1.87%-1.35%-345.53%-2.22%-4.5%-4.82%-1.51%0.58%
EBITDA Growth %-0.61%-1.22%-0.16%-0.11%-0.91%0.2%-0.94%-0.04%0.29%3.81%
D&A (Non-Cash Add-back)247K317K406K527K703K948K2.77M3.37M3.31M826K
EBIT-14.79M-32.67M-36.96M-39.72M-77.71M-64.52M-125.84M-131.37M-93.65M252.84M
Net Interest Income+00948K2.57M2.64M302K443K4.06M14.9M26.32M
Interest Income19K242K948K2.57M2.81M900K443K4.06M14.9M26.32M
Interest Expense0000169K598K0000
Other Income/Expense-64K-4.51M940K2.55M2.64M-329K294K3.98M14.7M26.57M
Pretax Income+-14.86M-37.18M-36.96M-39.72M-77.88M-64.84M-125.55M-127.39M-78.95M279.41M
Pretax Margin %---1.84%-1.28%-337.13%-2.27%-4.59%-4.79%-1.32%0.64%
Income Tax+64K00-799K-691K1.3M0004.22M
Effective Tax Rate %1%1%1%0.98%0.99%1.02%1%1%1%0.98%
Net Income+-14.86M-37.18M-36.96M-38.92M-77.19M-66.15M-125.55M-127.39M-78.95M275.19M
Net Margin %---1.84%-1.26%-334.14%-2.31%-4.59%-4.79%-1.32%0.63%
Net Income Growth %-0.34%-1.5%0.01%-0.05%-0.98%0.14%-0.9%-0.01%0.38%4.49%
Net Income (Continuing)-14.86M-37.18M-36.96M-38.92M-77.19M-66.15M-125.55M-127.39M-78.95M275.19M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+-2.52-5.72-2.09-1.74-2.98-1.92-2.65-2.52-1.394.23
EPS Growth %-0.34%-1.27%0.63%0.17%-0.71%0.36%-0.38%0.05%0.45%4.04%
EPS (Basic)-2.52-5.72-2.09-1.74-2.98-1.92-2.65-2.52-1.394.47
Diluted Shares Outstanding5.88M6.5M17.69M22.36M25.89M34.4M46.32M49.04M56.76M65.08M
Basic Shares Outstanding5.88M6.5M17.69M22.36M25.89M34.4M46.32M49.04M56.76M61.57M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+14.21M83.24M150.95M137.5M145.31M315.61M340.74M243.08M355.58M591.64M
Cash & Short-Term Investments11.92M77.6M144M128.85M133.02M305.81M326.9M237.35M341.62M418.91M
Cash Only4.05M21.08M106.03M82.23M33.01M117.36M123.67M125.74M186.73M97.25M
Short-Term Investments7.87M56.52M37.97M46.62M100.01M188.45M203.24M111.61M154.89M321.66M
Accounts Receivable715K2.24M1.82M4.59M6.75M3.82M5.33M52K10.33M168.49M
Days Sales Outstanding--33.0454.1410.67K48.7271.150.7162.85141.56
Inventory0-7.65M-8.75M2.14M000000
Days Inventory Outstanding----------
Other Current Assets315K8.16M10.24M-205K754K10K0000
Total Non-Current Assets+639K10.75M12.79M1.97M9.61M8.86M6.96M4.85M2.37M153.08M
Property, Plant & Equipment609K562K879K861K7.72M6.41M6.73M4.63M2.15M12.61M
Fixed Asset Turnover--22.82x35.92x0.03x4.46x4.06x5.75x27.92x34.46x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments30K10.15M11.46M450K02M000140.25M
Other Non-Current Assets034K450K450K450K450K225K225K225K225K
Total Assets+14.85M93.99M163.73M139.47M154.92M324.47M347.69M247.93M357.95M744.73M
Asset Turnover--0.12x0.22x0.00x0.09x0.08x0.11x0.17x0.58x
Asset Growth %0.44%5.33%0.74%-0.15%0.11%1.09%0.07%-0.29%0.44%1.08%
Total Current Liabilities+3.13M6.43M42.55M26.16M35.41M40.24M44.02M31.18M21.27M47.4M
Accounts Payable1.25M1.16M1.26M5.71M2.79M3.08M1.6M3.64M772K1.61M
Days Payables Outstanding1.84K1.34K--------
Short-Term Debt0000000000
Deferred Revenue (Current)001000K1000K1000K1000K1000K69K01000K
Other Current Liabilities149K120K6.83M9.5M4.64M6.41M7.13M4.97M6.79M23.69M
Current Ratio4.54x12.94x3.55x5.26x4.10x7.84x7.74x7.80x16.71x12.48x
Quick Ratio4.54x14.13x3.75x5.17x4.10x7.84x7.74x7.80x16.71x12.48x
Cash Conversion Cycle----------
Total Non-Current Liabilities+2.12M0547K799K39.55M4.62M3.66M1.14M022.03M
Long-Term Debt00009.79M00000
Capital Lease Obligations00005.96M4.5M3.66M1.14M010.36M
Deferred Tax Liabilities00000000221K0
Other Non-Current Liabilities2.12M0547K799K0121K00-221K11.68M
Total Liabilities5.25M6.43M43.1M26.96M74.95M44.86M47.67M32.32M21.27M69.43M
Total Debt+000017.01M5.96M5.86M3.66M1.14M10.87M
Net Debt-4.05M-21.08M-106.03M-82.23M-15.99M-111.4M-117.81M-122.09M-185.59M-86.38M
Debt / Equity----0.21x0.02x0.02x0.02x0.00x0.02x
Debt / EBITDA---------0.04x
Net Debt / EBITDA----------0.34x
Interest Coverage-----476.46x-107.89x----
Total Equity+9.6M-64.59M-101.55M-140.47M79.96M279.61M300.02M215.61M336.68M675.29M
Equity Growth %0.21%-7.73%-0.57%-0.38%1.57%2.5%0.07%-0.28%0.56%1.01%
Book Value per Share1.63-9.93-5.74-6.283.098.136.484.405.9310.38
Total Shareholders' Equity9.6M-64.59M-101.55M-140.47M79.96M279.61M300.02M215.61M336.68M675.29M
Common Stock000000001K1K
Retained Earnings-27.42M-64.59M-101.55M-140.47M-217.66M-283.81M-409.36M-536.75M-615.71M-340.52M
Treasury Stock0000000000
Accumulated OCI-102K-245K-6K-233K-221K28K-299K-359K-105K-82K
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-14.38M-29.97M3.87M-49.95M-41.53M-72.48M-107.86M-108.14M-70.24M184.15M
Operating CF Margin %--0.19%-1.62%-179.77%-2.53%-3.94%-4.07%-1.17%0.42%
Operating CF Growth %-0.86%-1.08%1.13%-13.9%0.17%-0.75%-0.49%-0%0.35%3.62%
Net Income-14.86M-37.18M-36.96M-38.92M-77.19M-66.15M-125.55M-127.39M-78.95M275.19M
Depreciation & Amortization247K317K406K527K2.5M2.56M2.77M3.37M3.31M2.9M
Stock-Based Compensation99K2.13M4.24M6.92M8.35M7.9M16.39M24.2M29.29M37.55M
Deferred Taxes-8K151K0-658K-775K1.44M0000
Other Non-Cash Items83K4.72M625K206K-557K781K1.83M-549K-4.38M-8.88M
Working Capital Changes52K-112K35.56M-18.02M26.14M-19.02M-3.31M-7.77M-19.51M-122.61M
Change in Receivables-192K-1.59M-1.82M-2.77M-757K3.34M-915K4.24M0-155M
Change in Inventory005.53M3.85M757K-3.34M915K-4.24M00
Change in Payables898K-115K91K4.43M-3M309K-1.39M2.04M-2.93M842K
Cash from Investing+-8.26M-59.33M15.82M2.21M-53.71M-90.97M-15.86M91.47M-39.26M-299.48M
Capital Expenditures-399K-379K-666K-486K-967K-471K-1.1M-795K-609K-1.35M
CapEx % of Revenue--0.03%0.02%4.19%0.02%0.04%0.03%0.01%0%
Acquisitions----------
Investments----------
Other Investing-7.87M32K16.49M2.7M-52.74M-90.49M-14.76M91.47M00
Cash from Financing+17.42M106.31M65.55M24.11M46.04M247.63M129.92M18.84M170.48M25.85M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing57K151K1.01M934K1.78M2.79M6.09M4.29M38.38M-600K
Net Change in Cash----------
Free Cash Flow+-14.78M-30.35M3.21M-50.43M-42.49M-72.95M-108.97M-108.93M-70.84M182.8M
FCF Margin %--0.16%-1.63%-183.96%-2.55%-3.98%-4.1%-1.18%0.42%
FCF Growth %-0.84%-1.05%1.11%-16.73%0.16%-0.72%-0.49%0%0.35%3.58%
FCF per Share-2.51-4.670.18-2.26-1.64-2.12-2.35-2.22-1.252.81
FCF Conversion (FCF/Net Income)0.97x0.81x-0.10x1.28x0.54x1.10x0.86x0.85x0.89x0.67x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-169.31%----96.53%-36.79%-43.32%-49.41%-28.59%54.39%
Return on Invested Capital (ROIC)-531.9%----94.41%-41.68%-53.87%-71.47%-57.43%51.25%
Gross Margin--100%100%100%100%100%100%100%100%
Net Margin---184.2%-125.87%-33414.29%-231.07%-458.94%-479.26%-131.59%63.34%
Debt / Equity----0.21x0.02x0.02x0.02x0.00x0.02x
Interest Coverage-----476.46x-107.89x----
FCF Conversion0.97x0.81x-0.10x1.28x0.54x1.10x0.86x0.85x0.89x0.67x
Revenue Growth---54.14%-99.25%12293.07%-4.44%-2.84%125.73%624.05%

Revenue by Segment

2019202020212024
Development Services---15.3M
Development Services Growth----
License and Collaboration Agreement--18.6M-
License and Collaboration Agreement Growth----
License And Collaborative Revenue200K28.6M--
License And Collaborative Revenue Growth-14200.00%--
Financial Service Other-1.5M--
Financial Service Other Growth----

Frequently Asked Questions

Valuation & Price

Protagonist Therapeutics, Inc. (PTGX) has a price-to-earnings (P/E) ratio of 20.0x. This is roughly in line with market averages.

Growth & Financials

Protagonist Therapeutics, Inc. (PTGX) reported $209.2M in revenue for fiscal year 2024.

Protagonist Therapeutics, Inc. (PTGX) grew revenue by 624.1% over the past year. This is strong growth.

Yes, Protagonist Therapeutics, Inc. (PTGX) is profitable, generating $45.9M in net income for fiscal year 2024 (63.3% net margin).

Dividend & Returns

Protagonist Therapeutics, Inc. (PTGX) has a return on equity (ROE) of 54.4%. This is excellent, indicating efficient use of shareholder capital.

Protagonist Therapeutics, Inc. (PTGX) generated $63.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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