Saturday 17 October 2026 Export PTGX’s income statement to Excel — free account

Protagonist Therapeutics, Inc.

Protagonist Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $46.0 million, down 89.4% from fiscal 2024. In the quarter to June 2026, revenue grew 3,749.2%, EPS grew 549.1% and free cash flow grew 839.7%, each against the same quarter a year earlier.

128.75 7.80 −5.71%

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Market cap: $8.8B
P/E: 106×
Fwd P/E: 25.0×
Dividend yield: —
F-score: 4/9
Altman Z: 61.55
Beneish M: −7.18
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 87.71

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	—	6	2	4	1	3	2	—	1	2	—

Insider Ownership 7.15%

Capital & Financial Ratios $m

Market Cap 8,840.00

Revenue 281.99

Net Income 82.91

Free Cash Flow 130.58

Net Debt (782.58)

Current Ratio 21.71

Debt/Equity 0.00

P/E ratio 105.53

Fwd P/E 25.00

P/S ratio 30.10

P/B ratio 10.09

Past 5Y EPS Growth —

This Y EPS Growth 324.27%

Next Y EPS Growth (109.48%)

Next Y revenue growth 1,078.50%

Next 5Y EPS Growth 7.91%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 58.04%

10-year low 10-year high

P/B against its own 10 years 95.29%

10-year low 10-year high

EV/Sales against its own 10 years 65.92%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	342	419	567	783
Receivables	10	165	0	13
Inventory	—	—	—	—
Other	—	—	—	3
	356	592	578	807

	2023	2024	2025	Q'26
Payables	1	2	5	3
ST’ Debt	—	—	—	—
Other	—	—	—	—
	21	47	45	37

Compound Annual Growth %

	10y	5y	3y
Sales	—	9.96%	20.07%
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	0.00%	17.06%	41.80%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	56	213	—	—	—
’25	28	6	5	7	46
’24	255	4	5	171	434
’23	—	—	—	—	60
’22	26	1	—	—	27
’21	6	2	10	9	27
’20	4	6	13	6	29

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(49)	219	—	—	—
’25	125	(29)	(2)	(37)	58
’24	(27)	269	(28)	(29)	184
’23	(34)	(26)	(27)	17	(70)
’22	(38)	(14)	(25)	(32)	(108)
’21	(29)	(24)	(28)	(27)	(108)
’20	(16)	(21)	(16)	(19)	(72)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(49)	219	—	—	—
’25	125	(30)	(2)	(37)	56
’24	(28)	269	(29)	(29)	183
’23	(34)	(26)	(27)	17	(71)
’22	(38)	(14)	(25)	(32)	(109)
’21	(29)	(24)	(29)	(27)	(109)
’20	(16)	(22)	(16)	(19)	(73)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.05	2.29	—	—	—
’25	(0.19)	(0.55)	(0.62)	(0.69)	(2.05)
’24	3.26	(0.50)	(0.54)	1.98	4.23
’23	(0.67)	(0.68)	(0.58)	0.44	(1.39)
’22	(0.43)	(0.84)	(0.64)	(0.69)	(2.60)
’21	(0.54)	(0.69)	(0.70)	(0.77)	(2.71)
’20	(0.72)	(0.59)	(0.21)	(0.48)	(1.92)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	10.02	8.00	5.49	4.47	5.30	12.80	6.91	10.62	21.43	33.70	Analyst estimates 2026–2028 Powerpack
	High	26.36	22.50	23.97	16.67	25.65	50.54	37.05	30.10	48.89	96.54
People
People	Employees	35	55	64	73	79	118	105	112	126	132
	Revenue/emp, $m	0.00	0.36	0.48	0.00	0.36	0.23	0.25	0.54	3.45	0.35
Income, $m
Income, $m	Revenue	—	20	31	0	29	27	27	60	434	46
	Gross margin, %	0.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	(37)	(37)	(40)	(78)	(65)	(126)	(127)	(79)	279	(129)
	EBT margin, %	0.00	(184.20)	(128.45)	(33,713.42)	(226.51)	(458.94)	(479.26)	(131.59)	64.32	(281.01)
	Net income	(37)	(37)	(39)	(77)	(66)	(126)	(127)	(79)	275	(130)
	Depreciation	0	1	1	2	3	5	3	(1)	(6)	(4)
Per share, $
Per share, $	Revenue	0.00	1.13	1.38	0.01	0.83	0.59	0.54	1.06	7.06	0.72
	Earnings	(5.80)	(2.09)	(1.74)	(2.98)	(1.92)	(2.71)	(2.60)	(1.39)	4.47	(2.05)
	Cash flow	(4.61)	0.22	(2.23)	(1.60)	(2.11)	(2.33)	(2.20)	(1.24)	2.99	0.91
	Capex	(0.05)	(0.04)	(0.02)	(0.04)	(0.01)	(0.02)	(0.02)	(0.01)	(0.02)	(0.02)
	Free cash flow	(4.66)	0.18	(2.25)	(1.64)	(2.12)	(2.35)	(2.22)	(1.25)	2.97	0.88
	Book value	13.47	6.82	5.03	3.09	8.13	6.48	4.40	5.93	10.97	9.67
	Shares, m	7	18	22	26	34	46	49	57	62	64
Valuation, ×
Valuation, ×	P/E	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.62	0.00
	P/S	—	0.00	4.87	790.27	24.22	57.91	11.62	29.23	5.47	120.66
	P/B	—	3.10	1.34	2.28	2.48	5.28	2.45	3.95	3.52	9.03
	EV/Sales	—	0.00	0.70	256.80	13.88	46.32	6.62	21.93	4.53	108.55
	EV/FCF	—	71.81	(0.43)	(1.40)	(5.45)	(11.63)	(2.76)	(14.08)	10.76	89.07
Cash, $m
Cash, $m	Operating cash flow	(30)	4	(50)	(42)	(72)	(108)	(108)	(70)	184	58
	Capex	0	(1)	0	(1)	0	(1)	(1)	(1)	(1)	(2)
	Free cash flow	(30)	3	(50)	(42)	(73)	(109)	(109)	(71)	183	56
Balance, $m
Balance, $m	Working capital	77	108	111	110	275	297	212	334	544	532
	Total debt	—	—	—	10	5	4	1	—	—	—
	Net debt	(78)	(144)	(129)	(123)	(306)	(327)	(237)	(342)	(419)	(567)
	Shareholders’ equity	88	121	113	80	280	300	216	337	675	615
Returns, %
Returns, %	ROA	(69.34)	(28.68)	(25.67)	(52.44)	(27.60)	(37.36)	(42.78)	(26.06)	49.91	(18.42)
	ROIC	(205.27)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	61.64	(208.75)
	ROE	(125.46)	(35.50)	(33.39)	(80.20)	(36.79)	(43.32)	(49.41)	(28.59)	54.39	(20.18)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
KRYS Krystal Biotech, Inc.	$9.8B	38.3×	38.6×	+24.14% (above 0%: growing)	+39.10% (above 0%: growing)	+40.14% (above 0%: growing)	94.60%	49.00%	Compare
KYMR Kymera Therapeutics, Inc.	$9.0B	— (loss-making)	— (loss-making)	+466.40% (above 0%: growing)	n/m	+9.97% (above 0%: growing)	100.00%	(116.32%)	Compare
CAI Caris Life Sciences,�Inc.	$9.0B	81.3×	163×	+45.38% (above 0%: growing)	n/m	+8.47% (above 0%: growing)	68.10%	10.21%	Compare
CYTK Cytokinetics, Incorporated	$8.9B	— (loss-making)	— (loss-making)	−57.13% (below 0%: shrinking)	n/m	−24.02% (below 0%: shrinking)	80.46%	(625.95%)	Compare
PTGX Protagonist Therapeutics, Inc.	$8.8B	106×	25.0×	+3,749.17% (above 0%: growing)	n/m	+839.65% (above 0%: growing)	100.00%	74.37%
TGTX TG Therapeutics, Inc.	$8.6B	17.8×	29.4×	+70.27% (above 0%: growing)	−73.68% (below 0%: shrinking)	+427.05% (above 0%: growing)	82.86%	9.02%	Compare
AXSM Axsome Therapeutics, Inc.	$8.5B	— (loss-making)	— (loss-making)	+45.54% (above 0%: growing)	n/m	−2.98% (below 0%: shrinking)	93.79%	(22.73%)	Compare
ARWR Arrowhead Pharmaceuticals, Inc.	$8.3B	— (loss-making)	— (loss-making)	+171.02% (above 0%: growing)	n/m	−15.43% (below 0%: shrinking)	100.00%	(226.03%)	Compare
ABVX Abivax SA Sponsored ADR	$8.1B	— (loss-making)	—	—	n/m	−48.28% (below 0%: shrinking)	0.00%	0.00%	Compare
Median of peers	$8.7B	38.3×	38.6×	+45.54%	—	+2.75%	88.33%	(11.36%)

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Protagonist Therapeutics, Inc. (PTGX) key facts

Concern: Protagonist Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $46.0 million, down 89.4% from fiscal 2024.
Concern: Protagonist Therapeutics, Inc. reported a net loss of $130.1 million, or a loss of $2.05 per share, for fiscal 2025.
Protagonist Therapeutics, Inc. (PTGX) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, PTGX traded at $128.75, a market capitalization of $8.8 billion.
At that price the stock trades at 106× trailing-twelve-month earnings and 30.1× sales.
Return on equity was −20.2% and debt-to-equity 0.00.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 61.55 (safe zone) for fiscal 2025.