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Protagonist Therapeutics, Inc

PTGX Clue Score48
United States Fiscal year ends December CIK 0001377121
$143.73 +2.73% Close, 9 Oct 2026
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Price $143.73 +306.48% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Operating income−32.7Net income−37.2Fiscal year 2017Revenue20.1Operating income−37.9Net income−37.0Fiscal year 2018Revenue30.9 +54.1%Operating income−42.3Net income−38.9Fiscal year 2019Revenue0.2 −99.3%Operating income−80.5Net income−77.2Fiscal year 2020Revenue28.6 +12,293.1%Operating income−64.5Net income−66.2EPS, diluted−1.92Fiscal year 2021Revenue27.4 −4.4%Operating income−125.8Net income−125.6EPS, diluted−2.71Fiscal year 2022Revenue26.6 −2.8%Operating income−131.4Net income−127.4EPS, diluted−2.60Fiscal year 2023Revenue60.0 +125.7%Operating income−93.7Net income−79.0EPS, diluted−1.39Fiscal year 2024Revenue434.4 +624.1%Operating income252.8Net income275.2EPS, diluted4.23Fiscal year 2025Revenue46.0 −89.4%Operating income−158.1Net income−130.1 −147.3%EPS, diluted−2.05 −148.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a 20.1 30.9 0.2 28.6 27.4 26.6 60.0 434.4 46.0
Growth +54.1% −99.3% +12,293.1% −4.4% −2.8% +125.7% +624.1% −89.4%
Operating income −32.7 −37.9 −42.3 −80.5 −64.5 −125.8 −131.4 −93.7 252.8 −158.1
Net income −37.2 −37.0 −38.9 −77.2 −66.2 −125.6 −127.4 −79.0 275.2 −130.1
Growth −147.3%
EPS, diluted n/a n/a n/a n/a −1.92 −2.71 −2.60 −1.39 4.23 −2.05
Growth −148.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Fiscal year 2017Operating margin−188.9%Net margin−184.2%Free cash flow margin16.0%Fiscal year 2018Operating margin−136.7%Net margin−125.9%Free cash flow margin−163.1%Fiscal year 2019Operating margin−34,857.6%Net margin−33,414.3%Free cash flow margin−18,395.7%Fiscal year 2020Operating margin−225.4%Net margin−231.1%Free cash flow margin−254.8%Fiscal year 2021Operating margin−460.0%Net margin−458.9%Free cash flow margin−398.3%Fiscal year 2022Operating margin−494.2%Net margin−479.3%Free cash flow margin−409.8%Fiscal year 2023Operating margin−156.1%Net margin−131.6%Free cash flow margin−118.1%Fiscal year 2024Operating margin58.2%Net margin63.3%Free cash flow margin42.1%Fiscal year 2025Operating margin−343.6%Net margin−282.8%Free cash flow margin121.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a −188.9% −136.7% −34,857.6% −225.4% −460.0% −494.2% −156.1% 58.2% −343.6%
Net margin n/a −184.2% −125.9% −33,414.3% −231.1% −458.9% −479.3% −131.6% 63.3% −282.8%
Free cash flow margin n/a 16.0% −163.1% −18,395.7% −254.8% −398.3% −409.8% −118.1% 42.1% 121.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−30.0Capital expenditure−0.3Free cash flow−30.3Fiscal year 2017Operating cash flow3.9Capital expenditure−0.7Free cash flow3.2Fiscal year 2018Operating cash flow−49.9Capital expenditure−0.5Free cash flow−50.4 −1,673.1%Fiscal year 2019Operating cash flow−41.5Capital expenditure−1.0Free cash flow−42.5Fiscal year 2020Operating cash flow−72.5Capital expenditure−0.5Free cash flow−73.0Fiscal year 2021Operating cash flow−107.9Capital expenditure−1.1Free cash flow−109.0Fiscal year 2022Operating cash flow−108.1Capital expenditure−0.8Free cash flow−108.9Fiscal year 2023Operating cash flow−70.2Capital expenditure−0.6Free cash flow−70.8Fiscal year 2024Operating cash flow184.2Capital expenditure−1.4Free cash flow182.8Fiscal year 2025Operating cash flow57.7Capital expenditure−1.6Free cash flow56.1 −69.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −30.0 3.9 −49.9 −41.5 −72.5 −107.9 −108.1 −70.2 184.2 57.7
Capital expenditure −0.3 −0.7 −0.5 −1.0 −0.5 −1.1 −0.8 −0.6 −1.4 −1.6
Free cash flow −30.3 3.2 −50.4 −42.5 −73.0 −109.0 −108.9 −70.8 182.8 56.1
Growth −1,673.1% −69.3%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash21.1Shareholders’ equity87.6Fiscal year 2017Cash106.0Shareholders’ equity120.6Fiscal year 2018Cash82.2Shareholders’ equity112.5Fiscal year 2019Cash33.0Total debt9.8Net cash (debt)23.2Shareholders’ equity80.0Debt to equity0.12Fiscal year 2020Cash117.4Shareholders’ equity279.6Fiscal year 2021Cash123.7Shareholders’ equity300.0Fiscal year 2022Cash125.7Shareholders’ equity215.6Fiscal year 2023Cash186.7Shareholders’ equity336.7Fiscal year 2024Cash97.2Shareholders’ equity675.3Fiscal year 2025Cash128.4Shareholders’ equity614.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 21.1 106.0 82.2 33.0 117.4 123.7 125.7 186.7 97.2 128.4
Total debt n/a n/a n/a 9.8 n/a n/a n/a n/a n/a n/a
Net cash (debt) n/a n/a n/a 23.2 n/a n/a n/a n/a n/a n/a
Shareholders’ equity 87.6 120.6 112.5 80.0 279.6 300.0 215.6 336.7 675.3 614.7
Debt to equity n/a n/a n/a 0.12 n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
−30.0 3.9 −49.9 −41.5 −72.5 −107.9 −108.1 −70.2 184.2 57.7
Growth −1,390.0% −68.7%
0.3 0.4 0.5 0.7 0.9 0.8 1.0 1.0 0.8 1.3
Investment
−0.3 −0.7 −0.5 −1.0 −0.5 −1.1 −0.8 −0.6 −1.4 −1.6
calc −30.3 3.2 −50.4 −42.5 −73.0 −109.0 −108.9 −70.8 182.8 56.1
Growth −1,673.1% −69.3%
calc n/a n/a n/a n/a −2.12 −2.35 −2.22 −1.25 2.81 0.88
−59.3 15.8 2.2 −53.7 −91.0 −15.9 91.5 −39.3 −299.5 −49.3
Financing
106.3 65.6 24.1 46.0 247.6 129.9 18.8 170.5 25.9 22.9

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.