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PGNY logoProgyny, Inc.(PGNY)Earnings, Financials & Key Ratios

PGNY•NASDAQ
$18.70
$1.53B mkt cap·28.8× P/E·Price updated May 6, 2026
SectorHealthcareIndustryHealthcare ITSub-IndustryPayer and Benefits Administration
AboutProgyny, Inc., a benefits management company, specializes in fertility and family building benefits solutions for employers in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists. The company also offers Progyny Rx, an integrated pharmacy benefits solution that provides its members with access to the medications needed during their treatment. In addition, it provides surrogacy and adoption reimbursement programs for employers. The company was formerly known as Auxogyn, Inc. and changed its name to Progyny, Inc. in 2015. Progyny, Inc. was incorporated in 2008 and is headquartered in New York, New York.Show more
  • Revenue$1.29B+10.4%
  • EBITDA$90M+27.7%
  • Net Income$59M+7.7%
  • EPS (Diluted)0.65+14.0%
  • Gross Margin23.63%+8.9%
  • EBITDA Margin7%+15.7%
  • Operating Margin6.62%+14.5%
  • Net Margin4.54%-2.5%
  • ROE12.48%+12.0%
  • ROIC18.1%+35.0%
  • Debt/Equity0.05+1.9%
Technical→

PGNY Key Insights

Progyny, Inc. (PGNY) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 30.2%
  • ✓Share count reduced 6.3% through buybacks
  • ✓Efficient asset utilization: 1.7x turnover

✗Weaknesses

  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

PGNY Price & Volume

Progyny, Inc. (PGNY) stock price & volume — 10-year historical chart

Loading chart...

PGNY Growth Metrics

Progyny, Inc. (PGNY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years30.17%
3 Years17.87%
TTM10.4%

Profit CAGR

10 Years-
5 Years4.72%
3 Years24.45%
TTM7.7%

EPS CAGR

10 Years-
5 Years6.7%
3 Years29.4%
TTM14.04%

Return on Capital

10 Years-0.14%
5 Years13.19%
3 Years14.61%
Last Year17.43%

PGNY Recent Earnings

Progyny, Inc. (PGNY) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 8/12 qtrs (67%)
Q1 2026Latest
Feb 26, 2026
EPS
$0.15
Est $0.15
+2.0%
Revenue
$318M
Est $307M
+3.6%
Q4 2025
Nov 6, 2025
EPS
$0.45
Est $0.39
+15.4%
Revenue
$313M
Est $314M
-0.3%
Q3 2025
Aug 7, 2025
EPS
$0.48
Est $0.44
+9.1%
Revenue
$333M
Est $299M
+11.2%
Q2 2025
May 8, 2025
EPS
$0.48
Est $0.45
+6.7%
Revenue
$324M
Est $308M
+5.3%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 26, 2026
$0.15vs $0.15+2.0%
$318Mvs $307M+3.6%
Q4 2025Nov 6, 2025
$0.45vs $0.39+15.4%
$313Mvs $314M-0.3%
Q3 2025Aug 7, 2025
$0.48vs $0.44+9.1%
$333Mvs $299M+11.2%
Q2 2025May 8, 2025
$0.48vs $0.45+6.7%
$324Mvs $308M+5.3%
Based on last 12 quarters of dataView full earnings history →

PGNY Peer Comparison

Progyny, Inc. (PGNY) competitors in Payer and Benefits Administration — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
HIMS logoHIMSHims & Hers Health, Inc.Direct Competitor6.94B26.8852.7159%5.47%23.73%2.07
LFST logoLFSTLifeStance Health Group, Inc.Direct Competitor2.85B7.3636813.85%0.68%0.65%0.13
GDRX logoGDRXGoodRx Holdings, Inc.Direct Competitor880.73M2.5730.130.57%3.74%4.75%0.10
CVS logoCVSCVS Health CorporationProduct Competitor111.32B86.8662.497.85%0.72%3.86%1.24
CI logoCICigna CorporationProduct Competitor74.35B281.9812.7211.26%2.26%15.08%0.75
UNH logoUNHUnitedHealth Group IncorporatedProduct Competitor333.37B367.2827.7611.81%2.68%11.54%0.77
ELV logoELVElevance Health Inc.Product Competitor81.37B374.7114.9212.62%2.62%11.92%0.75
HUM logoHUMHumana Inc.Product Competitor29.57B246.3325.0310.06%0.82%6.17%0.73

Compare PGNY vs Peers

Progyny, Inc. (PGNY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs HIMS

Most directly comparable listed peer for PGNY.

Scale Benchmark

vs UNH

Larger-name benchmark to compare PGNY against a more recognizable public peer.

Peer Set

Compare Top 5

vs HIMS, LFST, GDRX, CVS

PGNY Income Statement

Progyny, Inc. (PGNY) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue48.58M105.4M229.68M344.86M500.62M786.91M1.09B1.17B1.29B
Revenue Growth %-116.94%117.92%50.15%45.17%57.19%38.34%7.22%10.4%
Cost of Goods Sold41.18M85.97M184.18M274.8M388.49M619.59M849.8M913.86M984.18M
COGS % of Revenue84.77%81.56%80.19%79.68%77.6%78.74%78.06%78.29%76.37%
Gross Profit
7.4M▲ 0%
19.43M▲ 162.6%
45.51M▲ 134.2%
70.06M▲ 54.0%
112.14M▲ 60.1%
167.32M▲ 49.2%
238.8M▲ 42.7%
253.36M▲ 6.1%
304.48M▲ 20.2%
Gross Margin %15.23%18.44%19.81%20.32%22.4%21.26%21.94%21.71%23.63%
Gross Profit Growth %-162.62%134.15%53.96%60.06%49.22%42.72%6.1%20.18%
Operating Expenses18.41M22.89M35.83M61.71M79.8M143.98M176.62M185.91M219.21M
OpEx % of Revenue37.88%21.71%15.6%17.89%15.94%18.3%16.22%15.93%17.01%
Selling, General & Admin18.41M22.89M35.83M61.71M79.8M143.98M176.62M185.91M219.21M
SG&A % of Revenue37.88%21.71%15.6%17.89%15.94%18.3%16.22%15.93%17.01%
Research & Development000000000
R&D % of Revenue---------
Other Operating Expenses000000000
Operating Income
-11.01M▲ 0%
-3.45M▲ 68.6%
9.68M▲ 380.3%
8.35M▼ 13.7%
32.34M▲ 287.4%
23.34M▼ 27.8%
62.18M▲ 166.4%
67.45M▲ 8.5%
85.28M▲ 26.4%
Operating Margin %-22.65%-3.28%4.21%2.42%6.46%2.97%5.71%5.78%6.62%
Operating Income Growth %-68.63%380.33%-13.73%287.4%-27.83%166.42%8.48%26.42%
EBITDA-9.45M-1.57M11.81M10.25M33.64M24.94M64.47M70.63M90.22M
EBITDA Margin %-19.44%-1.49%5.14%2.97%6.72%3.17%5.92%6.05%7%
EBITDA Growth %-83.39%852.71%-13.18%228.08%-25.86%158.46%9.56%27.74%
D&A (Non-Cash Add-back)1.56M1.88M2.13M1.91M1.3M1.6M2.28M3.17M4.95M
EBIT-11.01M-3.45M9.68M8.35M32.34M23.34M62.18M67.45M95.43M
Net Interest Income-740K-497K-58K121K461K814K8.51M15.75M0
Interest Income000121K461K814K8.51M15.75M0
Interest Expense740K497K58K000000
Other Income/Expense-1.45M-3.44M-18.23M331K95K1.1M8.51M15.75M10.15M
Pretax Income
-12.46M▲ 0%
-6.89M▲ 44.7%
-8.56M▼ 24.1%
8.68M▲ 201.4%
32.44M▲ 273.7%
24.44M▼ 24.6%
70.69M▲ 189.2%
83.2M▲ 17.7%
95.43M▲ 14.7%
Pretax Margin %-25.64%-6.54%-3.73%2.52%6.48%3.11%6.49%7.13%7.41%
Income Tax-3K-1.78M12K-37.78M-33.33M-5.92M8.65M28.87M36.91M
Effective Tax Rate %0.02%25.78%-0.14%-435.3%-102.77%-24.21%12.24%34.69%38.68%
Net Income
-12.45M▲ 0%
661K▲ 105.3%
-8.57M▼ 1396.4%
46.46M▲ 642.2%
65.77M▲ 41.6%
30.36M▼ 53.8%
62.04M▲ 104.4%
54.34M▼ 12.4%
58.52M▲ 7.7%
Net Margin %-25.63%0.63%-3.73%13.47%13.14%3.86%5.7%4.66%4.54%
Net Income Growth %-105.31%-1396.37%642.18%41.56%-53.84%104.35%-12.41%7.7%
Net Income (Continuing)-12.46M-5.12M-8.57M46.46M65.77M30.36M62.04M54.34M58.52M
Discontinued Operations4K5.78M0000000
Minority Interest000000000
EPS (Diluted)
-2.19▲ 0%
0.01▲ 100.4%
-0.10▼ 1334.6%
0.47▲ 570.0%
0.66▲ 40.4%
0.30▼ 54.5%
0.62▲ 106.7%
0.57▼ 8.1%
0.65▲ 14.0%
EPS Growth %-100.37%-570%40.43%-54.55%106.67%-8.06%14.04%
EPS (Basic)-2.190.01-0.100.540.740.330.650.590.68
Diluted Shares Outstanding5.69M81.56M83.57M99.06M100.36M99.96M100.67M95.45M89.46M
Basic Shares Outstanding5.69M81.56M83.57M85.72M89.11M92.2M95.02M91.48M85.23M
Dividend Payout Ratio---------

PGNY Balance Sheet

Progyny, Inc. (PGNY) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets16.77M24.54M132.44M190.22M258.54M433.86M640.41M472.72M551.77M
Cash & Short-Term Investments4.69M127K80.38M109.3M119.42M189.3M371.09M227.95M310.1M
Cash Only4.69M127K80.38M70.31M91.41M120.08M97.3M162.31M112.24M
Short-Term Investments00038.99M28M69.22M273.79M65.64M197.86M
Accounts Receivable11.37M23.32M47.06M75.66M134.56M240.07M241.87M235.32M220.29M
Days Sales Outstanding85.4480.7774.7880.0898.1111.3581.173.5962.39
Inventory000000000
Days Inventory Outstanding---------
Other Current Assets0200K0004.49M27.45M9.44M21.39M
Total Non-Current Assets18.19M16.79M17.99M63.7M99.53M109.13M116.21M134.38M190.66M
Property, Plant & Equipment597K776K3.08M12.07M12.83M15.27M27.82M29.63M54.92M
Fixed Asset Turnover81.38x135.82x74.50x28.58x39.01x51.52x39.13x39.39x23.47x
Goodwill11.88M11.88M11.88M11.88M11.88M11.88M11.88M15.53M19.98M
Intangible Assets5.34M3.86M2.38M1.21M599K99K01.3M6.22M
Long-Term Investments000000000
Other Non-Current Assets372K272K652K573K2.94M3.99M3.4M2.98M16.54M
Total Assets
34.96M▲ 0%
41.32M▲ 18.2%
150.43M▲ 264.0%
253.93M▲ 68.8%
358.06M▲ 41.0%
542.99M▲ 51.6%
756.62M▲ 39.3%
607.1M▼ 19.8%
742.43M▲ 22.3%
Asset Turnover1.39x2.55x1.53x1.36x1.40x1.45x1.44x1.92x1.74x
Asset Growth %-18.2%264.04%68.8%41.01%51.64%39.34%-19.76%22.29%
Total Current Liabilities17.77M30.2M36.16M77.79M98.82M159.54M185.95M168.63M202.39M
Accounts Payable5.13M15.58M19.39M43.51M61.4M109.29M125.43M95.1M124.07M
Days Payables Outstanding45.4766.1438.4257.857.6964.3853.8737.9846.01
Short-Term Debt3.56M253K0000000
Deferred Revenue (Current)7.13M9.39M0000000
Other Current Liabilities6.73M11.64M13M7.69M12.26M8.88M13.05M19.87M78.32M
Current Ratio0.94x0.81x3.66x2.45x2.62x2.72x3.44x2.80x2.73x
Quick Ratio0.94x0.81x3.66x2.45x2.62x2.72x3.44x2.80x2.73x
Cash Conversion Cycle---------
Total Non-Current Liabilities6.5M106.24M09.19M7.42M6.48M17.24M16.41M24M
Long-Term Debt1.63M00000000
Capital Lease Obligations0008.32M7.42M6.48M17.24M16.41M24M
Deferred Tax Liabilities000000000
Other Non-Current Liabilities4.87M00876K00000
Total Liabilities24.27M30.2M36.16M86.98M106.24M166.02M203.19M185.04M226.39M
Total Debt5.19M253K09.55M8.65M7.71M19.39M19.27M24M
Net Debt497K126K-80.38M-60.76M-82.76M-112.36M-77.91M-143.04M-88.24M
Debt / Equity0.49x0.02x-0.06x0.03x0.02x0.04x0.05x0.05x
Debt / EBITDA---0.93x0.26x0.31x0.30x0.27x0.27x
Net Debt / EBITDA---6.81x-5.93x-2.46x-4.51x-1.21x-2.03x-0.98x
Interest Coverage-14.87x-6.95x166.84x------
Total Equity
10.69M▲ 0%
11.12M▲ 4.0%
114.27M▲ 927.4%
166.95M▲ 46.1%
251.82M▲ 50.8%
376.97M▲ 49.7%
553.43M▲ 46.8%
422.06M▼ 23.7%
516.04M▲ 22.3%
Equity Growth %-4.04%927.43%46.1%50.84%49.7%46.81%-23.74%22.27%
Book Value per Share1.880.141.371.692.513.775.504.425.77
Total Shareholders' Equity10.69M11.12M114.27M166.95M251.82M376.97M553.43M422.06M516.04M
Common Stock1K1K8K9K9K9K9K9K9K
Retained Earnings-104.56M-104.85M-113.48M-68.19M-2.42M27.93M89.97M144.31M202.83M
Treasury Stock0-884K-1.01M-1.01M-1.01M-1.01M-1.01M-303.89M-388.07M
Accumulated OCI-83K-483K-150.43M1K-93K501K2.82M39K498K
Minority Interest000000000

PGNY Cash Flow Statement

Progyny, Inc. (PGNY) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-9.47M2.27M-1.53M36.2M26.04M80.39M188.81M179.1M210.19M
Operating CF Margin %-19.5%2.16%-0.67%10.5%5.2%10.22%17.34%15.34%16.31%
Operating CF Growth %-123.98%-167.52%2460.04%-28.08%208.77%134.86%-5.14%17.36%
Net Income-12.45M661K-8.57M46.46M65.77M30.36M62.04M54.34M58.52M
Depreciation & Amortization1.56M1.88M2.13M1.91M1.3M1.6M2.28M3.17M4.95M
Stock-Based Compensation1.56M3M5.06M12.82M0100.75M122.61M128.13M131.87M
Deferred Taxes-3K-1.78M12K-37.97M-33.3M-6.62M3.75M-10.46M-8.12M
Other Non-Cash Items1.29M-1.85M19.78M5.64M43.53M13.79M15.56M15.7M20.17M
Working Capital Changes-1.43M354K-19.95M7.35M-51.26M-59.49M-17.42M-11.78M2.8M
Change in Receivables-2.04M-12.78M-25.34M-35.34M-68.68M-119.3M-21.74M-9.87M-5.12M
Change in Inventory1.81M2.58M0000000
Change in Payables-909K10.45M3.5M25.01M17.84M47.69M16.23M-30.27M28.75M
Cash from Investing-612K1.9M-2.76M-40.03M8.77M-43.87M-200.53M195.79M-159.01M
Capital Expenditures-612K-579K-2.96M-1.04M-2.13M-3.24M-3.64M-5.41M-18.41M
CapEx % of Revenue1.26%0.55%1.29%0.3%0.43%0.41%0.33%0.46%1.43%
Acquisitions0000000-5.3M-9.34M
Investments---------
Other Investing02.48M200K000000
Cash from Financing11.77M-8.74M84.55M-6.25M-13.7M-7.86M-11.07M-309.88M-99.36M
Debt Issued (Net)-3.26M-5.1M-253K000000
Equity Issued (Net)15M-3.71M81.03M2.68M4.27M4.22M6.13M-300.28M-80.43M
Dividends Paid000000000
Share Repurchases0-3.71M-185K0000-300.28M-81.66M
Other Financing25K65K3.76M-8.93M-17.97M-12.09M-17.2M-9.6M-18.93M
Net Change in Cash
1.68M▲ 0%
-4.56M▼ 371.7%
80.25M▲ 1858.4%
-10.08M▼ 112.6%
21.11M▲ 309.5%
28.66M▲ 35.8%
-22.78M▼ 179.5%
65.02M▲ 385.4%
-48.12M▼ 174.0%
Free Cash Flow
-10.09M▲ 0%
1.69M▲ 116.8%
-4.49M▼ 365.2%
35.17M▲ 883.2%
23.91M▼ 32.0%
77.15M▲ 222.7%
185.17M▲ 140.0%
173.7M▼ 6.2%
191.78M▲ 10.4%
FCF Margin %-20.76%1.61%-1.95%10.2%4.78%9.8%17.01%14.88%14.88%
FCF Growth %-116.79%-365.21%883.21%-32.01%222.71%140%-6.19%10.41%
FCF per Share-1.770.02-0.050.360.240.771.841.822.14
FCF Conversion (FCF/Net Income)0.76x3.44x0.18x0.78x0.40x2.65x3.04x3.30x3.59x
Interest Paid00176K000000
Taxes Paid000000040.45M0

PGNY Key Ratios

Progyny, Inc. (PGNY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025
Return on Equity (ROE)-116.48%6.06%-13.67%33.04%31.41%9.66%13.34%11.14%12.48%
Return on Invested Capital (ROIC)-73.78%-23.08%32.16%8.94%17.62%8.07%12.6%13.41%18.1%
Gross Margin15.23%18.44%19.81%20.32%22.4%21.26%21.94%21.71%23.63%
Net Margin-25.63%0.63%-3.73%13.47%13.14%3.86%5.7%4.66%4.54%
Debt / Equity0.49x0.02x-0.06x0.03x0.02x0.04x0.05x0.05x
Interest Coverage-14.87x-6.95x166.84x------
FCF Conversion0.76x3.44x0.18x0.78x0.40x2.65x3.04x3.30x3.59x
Revenue Growth-116.94%117.92%50.15%45.17%57.19%38.34%7.22%10.4%

PGNY SEC Filings & Documents

Progyny, Inc. (PGNY) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 13, 2026·SEC

Material company update

Feb 26, 2026·SEC

Material company update

Jan 12, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 27, 2026·SEC

FY 2025

Mar 3, 2025·SEC

FY 2024

Feb 29, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 9, 2025·SEC

PGNY Frequently Asked Questions

Progyny, Inc. (PGNY) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Progyny, Inc. (PGNY) reported $1.29B in revenue for fiscal year 2025. This represents a 2552% increase from $48.6M in 2017.

Progyny, Inc. (PGNY) grew revenue by 10.4% over the past year. This is steady growth.

Yes, Progyny, Inc. (PGNY) is profitable, generating $58.5M in net income for fiscal year 2025 (4.5% net margin).

Dividend & Returns

Progyny, Inc. (PGNY) has a return on equity (ROE) of 12.5%. This is reasonable for most industries.

Progyny, Inc. (PGNY) generated $188.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More PGNY

Progyny, Inc. (PGNY) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

→
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