Protagonist Therapeutics, Inc. (PTGX) intrinsic value & 10-year financials
Protagonist Therapeutics, Inc. (PTGX) has a Graham intrinsic value of $89.41 per share. At $128.75 on Oct 17, 2026, the stock trades 44% above that value. Over the last 10 fiscal years revenue grew 10.9% a year to $46.0M, with an average return on invested capital of -56.6%.
- Graham intrinsic value
- $89.41
- Share price (Oct 17, 2026)
- $128.75
- Price vs Graham value
- 44% above
- Market cap
- $8.2B
- Revenue (FY2025)
- $46.0M
- Revenue growth (10-yr CAGR)
- 10.9%
- ROIC (10-yr avg)
- -56.6%
- Free cash flow (FY2025)
- $56.1M
PTGX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $46.0M | -$130.1M | -$2.05 | $56.1M | -343.6% | -29.2% |
| FY2024 | $434.4M | $275.2M | $4.23 | $182.8M | 58.2% | 42.3% |
| FY2023 | $60.0M | -$79.0M | -$1.39 | -$70.8M | -156.1% | — |
| FY2022 | $26.6M | -$127.4M | -$2.60 | -$108.9M | -494.2% | -96.9% |
| FY2021 | $27.4M | -$125.6M | -$2.71 | -$109.0M | -460.0% | -72.6% |
| FY2020 | $28.6M | -$66.2M | -$1.92 | -$73.0M | -225.4% | -56.2% |
| FY2019 | $231.0K | -$77.2M | — | -$42.5M | -34857.6% | -127.3% |
| FY2018 | $30.9M | -$38.9M | — | -$50.4M | -136.7% | — |
| FY2017 | $20.1M | -$37.0M | — | $3.2M | -188.9% | — |
| FY2016 | — | -$37.2M | — | -$30.4M | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Protagonist Therapeutics, Inc revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Protagonist Therapeutics, Inc has historically struggled to out-earn its cost of capital, averaging just -56.7% ROIC.
Protagonist Therapeutics, Inc capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Protagonist Therapeutics, Inc is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $89.41 per share.