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Protagonist Therapeutics, Inc

PTGX

$145.99 ▼ -0.33 (-0.23%) at close

13 Visible periods

31 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

Protagonist Therapeutics, Inc faces fundamental challenges. The fundamentals warrant careful consideration of downside risks.

Market Cap $9.3B

Dividend Yield —

Revenue Growth -89.4% ↘

Op. Margin -343.6% ↘

ROIC -25.9% ↘

FCF / Share $0.88 ↘

Trailing P/E —

Price / Book 14.9x

FCF Yield 0.6%

Debt / Equity —

info Valuation on last close. End-of-day price, Aug 7, 2026.

13-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$46.02M

↓ -89.4% —

Net Income Profit after all expenses

$-130.15M

↓ -147.3% —

Operating Margin Operating profit as % of sales

-343.6%

↓ -690.4% 0th

FCF / Share Free cash flow per share

$0.88

↓ -70.3% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↑

Returns ↑

Cash Quality

Financial view

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📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Revenue Growth YoY (%)	-89.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1218%)	624.1% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+7701%)	125.7% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1472%)	-2.8% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-135%)	-4.4% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-155%)	—	—	54.1% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+577%)	—	—	—	—	—
EPS Growth YoY (%)	N/M	N/M	46.5% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	4.1% Caution Caution Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—	—	—	—
Net Income Growth YoY (%)	N/M	N/M	38.0% Excellent ↑ Excellent Improving Year-over-year change in net income	-1.5% Weak ↑ Weak Improving Year-over-year change in net income	-89.8% Weak ↓ Weak Declining Year-over-year change in net income	14.3% Fair ↑ Fair Improving Year-over-year change in net income	-98.3% Weak ↓ Weak Declining Year-over-year change in net income	-5.3% Weak ↑ Weak Improving Year-over-year change in net income	0.6% Caution ↑ Caution Improving Year-over-year change in net income	-150.2% Weak Weak Year-over-year change in net income	-34.2% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	-70.3% Weak ↓ Weak Declining Year-over-year change in free cash flow	N/M	43.8% Excellent Excellent Year-over-year change in free cash flow	5.6% Fair Fair Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	20.1% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	151.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	28.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	—	-4.0% Weak Weak Compound annual revenue growth over 3 years	12.6% Good Good Compound annual revenue growth over 3 years	—	—	—	—	—	—	—
Revenue CAGR 5Y (%)	10.0% Good → Good Stable Compound annual revenue growth over 5 years	—	14.2% Excellent Excellent Compound annual revenue growth over 5 years	5.8% Fair Fair Compound annual revenue growth over 5 years	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Operating Margin (%) (%)	-343.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2391%)	58.2% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+288%)	-156.1% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1141%)	-494.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3395%)	-460.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3167%)	-225.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1602%)	—	-136.7% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1011%)	-188.9% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1359%)	—	—	—	—
Effective Tax Rate (%) (%)	-0.6% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	1.5% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-2.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.9% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-2.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—
Profit Margin (%) (%)	-282.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2457%)	63.3% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+428%)	-131.6% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1197%)	-479.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-4094%)	-458.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3924%)	-231.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2026%)	—	-125.9% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1149%)	-184.2% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1635%)	—	—	—	—
FCF Margin (%) (%)	121.9% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	42.1% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	-118.1% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-409.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-398.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-254.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	—	-163.1% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	16.0% Good Good Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—
FCF / Net Income (x)	-0.43x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.66x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.90x Caution → Caution Stable Free cash flow relative to reported net income Optimal: > 1x	0.86x Caution → Caution Stable Free cash flow relative to reported net income Optimal: > 1x	0.87x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.10x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.55x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.30x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	-0.09x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.82x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	1.00x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Return on Invested Capital (%)	-25.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	36.9% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	-27.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-60.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-41.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-23.5% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-88.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-38.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-24.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-37.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	54.0% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	58.3% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-23.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	34.0% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	-26.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-53.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-36.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-19.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-52.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-30.3% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	-23.1% Weak Weak Operating profit relative to total assets Optimal: > 10%	-34.8% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—
Return on Common Equity (%) (%)	-21.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-241%)	40.8% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+172%)	-23.5% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-256%)	-59.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-494%)	-41.8% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-379%)	-23.7% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-258%)	-96.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-744%)	-34.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-331%)	-30.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-304%)	-42.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-383%)	54.2% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+262%)	87.7% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+485%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Debt to Equity (x)	—	—	—	—	—	—	0.12x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-80%)	—	—	—	—	—	—
Interest Coverage (x)	—	—	—	—	—	-107.89x Weak Weak Operating income divided by interest expense Optimal: > 5x	-476.46x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—
Net Debt (USD)	$-128.39M	$-97.25M	$-186.73M	$-125.74M	$-123.67M	$-117.36M	$-23.21M	$-82.23M	$-106.03M	$-21.08M	$-4.05M	$-9.32M	$-8.46M
Debt / EBITDA (x)	—	—	—	—	—	—	-0.12x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Revenue per Share (USD)	$0.72	$7.06	$1.06	$0.54	$0.59	—	—	—	—	—	—	—	—
Basic EPS, GAAP (USD)	$-2.05	$4.47	$-1.39	$-2.60	$-2.71	—	—	—	—	—	—	—	—
Free Cash Flow per Share (USD)	$0.88	$2.97	$-1.25	$-2.22	$-2.35	—	—	—	—	—	—	—	—
Book Value per Share (USD)	$9.82	$11.06	$5.83	$4.37	$6.27	$6.39	$2.94	$4.85	$5.72	$5.24	—	—	—
Tangible Book Value per Share (USD)	$9.82	$11.06	$5.83	$4.37	$6.27	$6.39	$2.94	$4.85	$5.72	$5.24	—	—	—
Basic Weighted Avg Shares (shares)	63.57M	61.57M	56.76M	49.04M	46.32M	—	—	—	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Working Capital (USD)	$532.13M	$544.24M	$334.30M	$211.90M	$296.72M	$275.37M	$109.91M	$111.34M	$108.39M	$76.81M	—	—	—
LT Debt (USD)	—	—	—	—	—	—	$9.79M	—	—	—	—	—	—
Total Equity (USD)	$614.71M	$675.29M	$336.68M	$215.61M	$300.02M	$279.61M	$79.96M	$112.52M	$120.63M	$87.56M	$-27.40M	$-12.62M	$-1.39M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Sales/Revenue/Turnover (USD)	$46.02M	$434.43M	$60.00M	$26.58M	$27.36M	$28.63M	—	$30.93M	$20.06M	—	—	—	—
Depreciation Expense (USD)	$1.28M	$826.00K	$977.00K	$1.03M	$813.00K	$948.00K	$703.00K	$527.00K	$406.00K	$317.00K	$247.00K	$258.00K	—
Net Income, GAAP (USD)	$-130.15M	$275.19M	$-78.95M	$-127.39M	$-125.55M	$-66.15M	$-77.19M	$-38.92M	$-36.96M	$-37.18M	$-14.86M	$-11.07M	—
Operating Cash Flow (USD)	$57.67M	$184.15M	$-70.24M	$-108.14M	$-107.86M	$-72.48M	$-41.53M	$-49.95M	$3.87M	$-29.97M	$-14.38M	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 13 years · 46 quarters

Protagonist Therapeutics, Inc

Analytical Summary

13-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

Benchmark Lens

Signals

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