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Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and Protagonist Therapeutics, Inc (PTGX). Click either name above to swap in a different company.

Protagonist Therapeutics, Inc is the larger business by last-quarter revenue ($170.6M vs $105.5M, roughly 1.6× CARRIAGE SERVICES INC). Protagonist Therapeutics, Inc runs the higher net margin — 77.2% vs 11.6%, a 65.5% gap on every dollar of revenue. On growth, Protagonist Therapeutics, Inc posted the faster year-over-year revenue change (184.4% vs 8.0%). Protagonist Therapeutics, Inc produced more free cash flow last quarter ($182.8M vs $6.2M).

Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.

Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing novel peptide-based targeted therapies for unmet medical needs, primarily covering gastrointestinal disorders, inflammatory diseases and rare disease indications. Its lead product candidates target inflammatory bowel disease and other chronic immune-related conditions, with operations spanning global R&D and partnership collaborations.

CSV vs PTGX — Head-to-Head

Bigger by revenue
PTGX
PTGX
1.6× larger
PTGX
$170.6M
$105.5M
CSV
Growing faster (revenue YoY)
PTGX
PTGX
+176.4% gap
PTGX
184.4%
8.0%
CSV
Higher net margin
PTGX
PTGX
65.5% more per $
PTGX
77.2%
11.6%
CSV
More free cash flow
PTGX
PTGX
$176.6M more FCF
PTGX
$182.8M
$6.2M
CSV

Income Statement — Q4 FY2025 vs Q4 FY2024

Metric
CSV
CSV
PTGX
PTGX
Revenue
$105.5M
$170.6M
Net Profit
$12.3M
$131.7M
Gross Margin
34.8%
Operating Margin
23.3%
74.3%
Net Margin
11.6%
77.2%
Revenue YoY
8.0%
184.4%
Net Profit YoY
24.5%
381.7%
EPS (diluted)
$0.76
$2.01

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
CSV
CSV
PTGX
PTGX
Q4 25
$105.5M
Q3 25
$102.7M
Q2 25
$102.1M
Q1 25
$107.1M
Q4 24
$97.7M
$170.6M
Q3 24
$100.7M
Q2 24
$102.3M
Q1 24
$103.5M
$255.0M
Net Profit
CSV
CSV
PTGX
PTGX
Q4 25
$12.3M
Q3 25
$6.6M
Q2 25
$11.7M
Q1 25
$20.9M
Q4 24
$9.9M
$131.7M
Q3 24
$9.9M
Q2 24
$6.3M
Q1 24
$7.0M
$207.3M
Gross Margin
CSV
CSV
PTGX
PTGX
Q4 25
34.8%
Q3 25
35.3%
Q2 25
35.2%
Q1 25
35.3%
Q4 24
34.4%
Q3 24
35.2%
Q2 24
36.2%
Q1 24
36.0%
Operating Margin
CSV
CSV
PTGX
PTGX
Q4 25
23.3%
Q3 25
17.0%
Q2 25
23.5%
Q1 25
29.5%
Q4 24
21.6%
74.3%
Q3 24
22.7%
Q2 24
18.0%
Q1 24
18.8%
80.9%
Net Margin
CSV
CSV
PTGX
PTGX
Q4 25
11.6%
Q3 25
6.4%
Q2 25
11.5%
Q1 25
19.5%
Q4 24
10.1%
77.2%
Q3 24
9.8%
Q2 24
6.1%
Q1 24
6.7%
81.3%
EPS (diluted)
CSV
CSV
PTGX
PTGX
Q4 25
$0.76
Q3 25
$0.41
Q2 25
$0.74
Q1 25
$1.34
Q4 24
$0.62
$2.01
Q3 24
$0.63
Q2 24
$0.40
Q1 24
$0.45
$3.26

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CSV
CSV
PTGX
PTGX
Cash + ST InvestmentsLiquidity on hand
$1.7M
$418.9M
Total DebtLower is stronger
Stockholders' EquityBook value
$254.8M
$675.3M
Total Assets
$1.3B
$744.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CSV
CSV
PTGX
PTGX
Q4 25
$1.7M
Q3 25
$1.2M
Q2 25
$1.4M
Q1 25
$4.6M
Q4 24
$1.2M
$418.9M
Q3 24
$1.3M
Q2 24
$1.5M
Q1 24
$1.7M
$322.6M
Stockholders' Equity
CSV
CSV
PTGX
PTGX
Q4 25
$254.8M
Q3 25
$242.1M
Q2 25
$235.4M
Q1 25
$223.1M
Q4 24
$208.6M
$675.3M
Q3 24
$198.1M
Q2 24
$187.9M
Q1 24
$179.6M
$560.4M
Total Assets
CSV
CSV
PTGX
PTGX
Q4 25
$1.3B
Q3 25
$1.3B
Q2 25
$1.3B
Q1 25
$1.3B
Q4 24
$1.3B
$744.7M
Q3 24
$1.3B
Q2 24
$1.3B
Q1 24
$1.3B
$629.3M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CSV
CSV
PTGX
PTGX
Operating Cash FlowLast quarter
$14.1M
$184.2M
Free Cash FlowOCF − Capex
$6.2M
$182.8M
FCF MarginFCF / Revenue
5.9%
107.1%
Capex IntensityCapex / Revenue
7.5%
0.8%
Cash ConversionOCF / Net Profit
1.15×
1.40×
TTM Free Cash FlowTrailing 4 quarters
$40.1M
$101.7M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CSV
CSV
PTGX
PTGX
Q4 25
$14.1M
Q3 25
$24.7M
Q2 25
$8.1M
Q1 25
$13.8M
Q4 24
$9.3M
$184.2M
Q3 24
$20.9M
Q2 24
$2.2M
Q1 24
$19.7M
$-27.4M
Free Cash Flow
CSV
CSV
PTGX
PTGX
Q4 25
$6.2M
Q3 25
$18.0M
Q2 25
$5.2M
Q1 25
$10.6M
Q4 24
$4.9M
$182.8M
Q3 24
$16.2M
Q2 24
$-1.4M
Q1 24
$16.2M
$-27.7M
FCF Margin
CSV
CSV
PTGX
PTGX
Q4 25
5.9%
Q3 25
17.5%
Q2 25
5.1%
Q1 25
9.9%
Q4 24
5.0%
107.1%
Q3 24
16.1%
Q2 24
-1.4%
Q1 24
15.6%
-10.9%
Capex Intensity
CSV
CSV
PTGX
PTGX
Q4 25
7.5%
Q3 25
6.5%
Q2 25
2.8%
Q1 25
3.0%
Q4 24
4.5%
0.8%
Q3 24
4.6%
Q2 24
3.5%
Q1 24
3.4%
0.1%
Cash Conversion
CSV
CSV
PTGX
PTGX
Q4 25
1.15×
Q3 25
3.76×
Q2 25
0.69×
Q1 25
0.66×
Q4 24
0.94×
1.40×
Q3 24
2.11×
Q2 24
0.34×
Q1 24
2.83×
-0.13×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

CSV
CSV

Propertyand Merchandise$47.8M45%
Cemetery Interment Rights$24.8M23%
Merchandise$18.9M18%
Other Revenue$10.2M10%
Other$3.9M4%

PTGX
PTGX

Segment breakdown not available.

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