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Protagonist Therapeutics Valuation Multiples
Discover revenue and EBITDA valuation multiples for Protagonist Therapeutics and similar public comparables like Bachem, Shanghai Allist, Laurus Labs, Apogee Therapeutics and more.
Protagonist Therapeutics Overview
About Protagonist Therapeutics
Protagonist Therapeutics Inc is a biopharmaceutical company engaged in the discovery and development of peptide-based therapeutics using its proprietary technology platform. The company focuses on three therapeutic areas: inflammation and immunology, hematology, and metabolic diseases. Its pipeline includes clinical-stage and preclinical candidates such as rusfertide for polycythemia vera, icotrokinra for inflammatory diseases, and other programs targeting IL-17, obesity, and iron metabolism disorders, developed through internal research and strategic collaborations.
Founded
2006
HQ
Employees
132
Website
Sectors
Financials (LTM)
EV
$6B
Protagonist Therapeutics Financials
Protagonist Therapeutics reported last 12-month revenue of $155M and negative EBITDA of ($31M).
In the same LTM period, Protagonist Therapeutics generated $155M in gross profit, ($31M) in EBITDA losses, and had net loss of ($33M).
Revenue (LTM)
Protagonist Therapeutics P&L
In the most recent fiscal year, Protagonist Therapeutics reported revenue of $46M and EBITDA of ($142M).
Protagonist Therapeutics expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $155M | XXX | $46M | XXX | XXX | XXX |
| Gross Profit | $155M | XXX | — | XXX | XXX | XXX |
| Gross Margin | 100% | XXX | — | XXX | XXX | XXX |
| EBITDA | ($31M) | XXX | ($142M) | XXX | XXX | XXX |
| EBITDA Margin | (20%) | XXX | (308%) | XXX | XXX | XXX |
| EBIT Margin | (36%) | XXX | (344%) | XXX | XXX | XXX |
| Net Profit | ($33M) | XXX | ($130M) | XXX | XXX | XXX |
| Net Margin | (22%) | XXX | (283%) | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Protagonist Therapeutics Stock Performance
Protagonist Therapeutics has current market cap of $6B, and enterprise value of $6B.
Market Cap Evolution
Protagonist Therapeutics' stock price is $98.82.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $6B | $6B | -5.1% | XXX | XXX | XXX | $-2.04 |
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Start Free TrialProtagonist Therapeutics Valuation Multiples
Protagonist Therapeutics trades at 37.0x EV/Revenue multiple, and (187.1x) EV/EBITDA.
EV / Revenue (LTM)
Protagonist Therapeutics Financial Valuation Multiples
As of April 11, 2026, Protagonist Therapeutics has market cap of $6B and EV of $6B.
Equity research analysts estimate Protagonist Therapeutics' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Protagonist Therapeutics has a P/E ratio of (188.5x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $6B | XXX | $6B | XXX | XXX | XXX |
| EV (current) | $6B | XXX | $6B | XXX | XXX | XXX |
| EV/Revenue | 37.0x | XXX | 124.9x | XXX | XXX | XXX |
| EV/EBITDA | (187.1x) | XXX | (40.5x) | XXX | XXX | XXX |
| EV/EBIT | (102.6x) | XXX | (36.4x) | XXX | XXX | XXX |
| EV/Gross Profit | 37.0x | XXX | — | XXX | XXX | XXX |
| P/E | (188.5x) | XXX | (48.4x) | XXX | XXX | XXX |
| EV/FCF | 65.6x | XXX | 102.5x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Protagonist Therapeutics Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Protagonist Therapeutics Margins & Growth Rates
Protagonist Therapeutics' revenue in the last 12 month grew by 131%.
Protagonist Therapeutics' revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $1.5M for the same period.
Protagonist Therapeutics' rule of 40 is 918% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Protagonist Therapeutics' rule of X is 2208% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Protagonist Therapeutics Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 131% | XXX | 860% | XXX | XXX | XXX |
| EBITDA Margin | (20%) | XXX | (308%) | XXX | XXX | XXX |
| EBITDA Growth | (611%) | XXX | (283%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 918% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 2208% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $1.5M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 29% | XXX | 97% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 105% | XXX | 346% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 444% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Protagonist Therapeutics Public Comps
See public comps and valuation multiples for other Biopharmaceuticals comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Bachem | XXX | XXX | XXX | XXX | XXX | XXX |
| Shanghai Allist | XXX | XXX | XXX | XXX | XXX | XXX |
| Laurus Labs | XXX | XXX | XXX | XXX | XXX | XXX |
| Apogee Therapeutics | XXX | XXX | XXX | XXX | XXX | XXX |
| Centessa Pharmaceuticals | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Protagonist Therapeutics M&A Activity
Protagonist Therapeutics acquired XXX companies to date.
Last acquisition by Protagonist Therapeutics was on XXXXXXXX, XXXXX. Protagonist Therapeutics acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Protagonist Therapeutics
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialProtagonist Therapeutics Investment Activity
Protagonist Therapeutics invested in XXX companies to date.
Protagonist Therapeutics made its latest investment on XXXXXXXX, XXXXX. Protagonist Therapeutics invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Protagonist Therapeutics
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Protagonist Therapeutics
| When was Protagonist Therapeutics founded? | Protagonist Therapeutics was founded in 2006. |
| Where is Protagonist Therapeutics headquartered? | Protagonist Therapeutics is headquartered in United States. |
| How many employees does Protagonist Therapeutics have? | As of today, Protagonist Therapeutics has over 132 employees. |
| Who is the CEO of Protagonist Therapeutics? | Protagonist Therapeutics' CEO is Dinesh V. Patel. |
| Is Protagonist Therapeutics publicly listed? | Yes, Protagonist Therapeutics is a public company listed on Nasdaq. |
| What is the stock symbol of Protagonist Therapeutics? | Protagonist Therapeutics trades under PTGX ticker. |
| When did Protagonist Therapeutics go public? | Protagonist Therapeutics went public in 2016. |
| Who are competitors of Protagonist Therapeutics? | Protagonist Therapeutics main competitors are Bachem, Shanghai Allist, Laurus Labs, Apogee Therapeutics. |
| What is the current market cap of Protagonist Therapeutics? | Protagonist Therapeutics' current market cap is $6B. |
| What is the current revenue of Protagonist Therapeutics? | Protagonist Therapeutics' last 12 months revenue is $155M. |
| What is the current revenue growth of Protagonist Therapeutics? | Protagonist Therapeutics revenue growth (NTM/LTM) is 131%. |
| What is the current EV/Revenue multiple of Protagonist Therapeutics? | Current revenue multiple of Protagonist Therapeutics is 37.0x. |
| Is Protagonist Therapeutics profitable? | No, Protagonist Therapeutics is not profitable. |
| What is the current EBITDA of Protagonist Therapeutics? | Protagonist Therapeutics has negative EBITDA and is not profitable. |
| What is Protagonist Therapeutics' EBITDA margin? | Protagonist Therapeutics' last 12 months EBITDA margin is (20%). |
| What is the current EV/EBITDA multiple of Protagonist Therapeutics? | Current EBITDA multiple of Protagonist Therapeutics is (187.1x). |
| What is the current FCF of Protagonist Therapeutics? | Protagonist Therapeutics' last 12 months FCF is $88M. |
| What is Protagonist Therapeutics' FCF margin? | Protagonist Therapeutics' last 12 months FCF margin is 56%. |
| What is the current EV/FCF multiple of Protagonist Therapeutics? | Current FCF multiple of Protagonist Therapeutics is 65.6x. |
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