Protagonist Therapeutics, Inc

Health Care
Biotechnology: Pharmaceutical Preparations
www.protagonist-inc.com

Moat Score

Market Cap $2.50B
PE 15
Debt $NaN
Cash $131.35M
EV $NaN
FCF $229.23M

Earnings

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Sales & Net Margins

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Earnings	$170.85M
EBIT	$173.08M
ROE	32%
ROA	29%
FCF	$229.23M
Equity	$531.92M
Growth Stability	1
PE	14.65
PB	4.71
P/FCF	10.92
P/S	7.73
Price/Cash	0.05
Net Margins	54%
Op. Margins	53%
Sales Growth QoQ	12%
Sales CAGR	6%
FCF CAGR	3%
Equity CAGR	27%
Earnings Growth YoY	-3%

Earnings Growth QoQ	8%
Sales CAGR 5Y	85%
Equity CAGR 5Y	33%
Earnings CAGR 3Y	113%
Sales CAGR 3Y	113%
Equity CAGR 3Y	32%
Market Cap	$2.50B
Revenue	$323.80M
Assets	$603.86M
Cash	$131.35M
Shares Outstanding	59.52M
Moat Score	98%
Working Capital	432.19M
Current Ratio	10.7
Shares Growth 3y	10%
Equity Growth QoQ	-2%
Equity Growth YoY	76%

Assets & ROA

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Stockholders Equity & ROE

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Protagonist Therapeutics Inc is a clinical-stage biopharmaceutical company having a proprietary technology platform that enables the discovery and development of novel constrained peptide-based drug candidate to address medical needs. The Company operates and manages its business as one operating segment.

SEC Filings

Direct access to Protagonist Therapeutics, Inc (PTGX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Protagonist Therapeutics, Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Protagonist Therapeutics, Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Protagonist Therapeutics, Inc Discounted Cash Flow

Fully customizable DCF calculator online for Protagonist Therapeutics, Inc.

Years

Calculation mode

= $2.7B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$229M	$235M	$241M	$247M	$253M	$259M	$266M	$273M	$279M	$286M	$294M	$2.9B
DCF		$214M	$199M	$185M	$173M	$161M	$150M	$140M	$130M	$121M	$113M	$1.1B
Value	$2.7B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-	-	-	-184%	-126%	-33K%	-231%	-459%	-479%	-132%	54%
ROA	-	-100%	-35%	-23%	-28%	-50%	-20%	-36%	-51%	-22%	29%
ROE	-	55%	-43%	-31%	-35%	-97%	-24%	-42%	-59%	-23%	32%

Good Net Margins (54.4%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-0.24	-	-	-	-	-
Debt over Equity	-	-	-	-	-	0.13	-	-	-	-	-
Growth Stability	-	-	-	-	-	-	-	-	-	-	1

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-	-	-	54%	-99%	12K%	-4%	-3%	126%	85%
Earnings YoY growth	-	33%	153%	-2%	5%	98%	-14%	90%	1%	-38%	-
Equity YoY growth	-	117%	-420%	38%	-7%	-29%	250%	7%	-28%	56%	33%
FCF YoY growth	-	84%	105%	-111%	-2K%	-16%	72%	49%	-0%	-35%	-