Progyny, Inc. (PGNY) 10-Year Financial Performance & Capital Metrics

PGNY • • Industrial / General

HealthcareHealthcare ITClinical Software & EHR SystemsProvider Management Solutions

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 $1.17B +7.2%
EBITDA $71M +9.6%
Net Income $54M -12.4%
EPS (Diluted) 0.57 -8.1%
Gross Margin 21.71% -1.0%
EBITDA Margin 6.05% +2.2%
Operating Margin 5.78% +1.2%
Net Margin 4.66% -18.3%
ROE 11.14% -16.5%
ROIC 13.41% +6.4%
Debt/Equity 0.05 +30.3%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 38.4%
✓Share count reduced 5.2% through buybacks
✓Efficient asset utilization: 1.9x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y38.42%

3Y32.6%

TTM11.41%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-6.17%

TTM-1.23%

EPS CAGR

10Y-

5Y-

3Y-4.77%

TTM8.62%

ROCE

10Y Avg-2.34%

5Y Avg10.85%

3Y Avg11.22%

Latest13.37%

Peer Comparison

Provider Management Solutions

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PRVAPrivia Health Group, Inc.	2.93B	23.86	216.91	4.74%	0.89%	2.38%	3.55%	0.01
PGNYProgyny, Inc.	2.1B	24.31	42.65	7.22%	4.46%	10.1%	8.29%	0.05
DOCSDoximity, Inc.	5.64B	41.05	36.98	19.98%	40.72%	23.1%	4.73%	0.01
HSTMHealthStream, Inc.	653.89M	22.04	33.39	4.51%	6.93%	5.93%	4.51%	0.06
SPOKSpok Holdings, Inc.	272.51M	13.23	18.12	-0.99%	11.88%	11.16%	9.44%	0.06
BTSGBrightSpring Health Services, Inc. Common Stock	7.14B	39.60	-423.08	27.65%	1.04%	7.12%		1.76

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	48.58M	105.4M	229.68M	344.86M	500.62M	786.91M	1.09B	1.17B
Revenue Growth %	-	1.17%	1.18%	0.5%	0.45%	0.57%	0.38%	0.07%
Cost of Goods Sold+	41.18M	85.97M	184.18M	274.8M	388.49M	619.59M	849.8M	913.86M
COGS % of Revenue	0.85%	0.82%	0.8%	0.8%	0.78%	0.79%	0.78%	0.78%
Gross Profit+	7.4M	19.43M	45.51M	70.06M	112.14M	167.32M	238.8M	253.36M
Gross Margin %	0.15%	0.18%	0.2%	0.2%	0.22%	0.21%	0.22%	0.22%
Gross Profit Growth %	-	1.63%	1.34%	0.54%	0.6%	0.49%	0.43%	0.06%
Operating Expenses+	18.41M	22.89M	35.83M	61.71M	79.8M	143.98M	176.62M	185.91M
OpEx % of Revenue	0.38%	0.22%	0.16%	0.18%	0.16%	0.18%	0.16%	0.16%
Selling, General & Admin	18.41M	22.89M	35.83M	61.71M	79.8M	143.98M	176.62M	185.91M
SG&A % of Revenue	0.38%	0.22%	0.16%	0.18%	0.16%	0.18%	0.16%	0.16%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0
Operating Income+	-11.01M	-3.45M	9.68M	8.35M	32.34M	23.34M	62.18M	67.45M
Operating Margin %	-0.23%	-0.03%	0.04%	0.02%	0.06%	0.03%	0.06%	0.06%
Operating Income Growth %	-	0.69%	3.8%	-0.14%	2.87%	-0.28%	1.66%	0.08%
EBITDA+	-9.45M	-1.57M	11.81M	10.25M	33.64M	24.94M	64.47M	70.63M
EBITDA Margin %	-0.19%	-0.01%	0.05%	0.03%	0.07%	0.03%	0.06%	0.06%
EBITDA Growth %	-	0.83%	8.53%	-0.13%	2.28%	-0.26%	1.58%	0.1%
D&A (Non-Cash Add-back)	1.56M	1.88M	2.13M	1.91M	1.3M	1.6M	2.28M	3.17M
EBIT	-11.01M	-3.45M	9.68M	8.35M	32.34M	23.34M	62.18M	67.45M
Net Interest Income+	-740K	-497K	-58K	121K	461K	814K	8.51M	15.75M
Interest Income	0	0	0	121K	461K	814K	8.51M	15.75M
Interest Expense	740K	497K	58K	0	0	0	0	0
Other Income/Expense	-1.45M	-3.44M	-18.23M	331K	95K	1.1M	8.51M	15.75M
Pretax Income+	-12.46M	-6.89M	-8.56M	8.68M	32.44M	24.44M	70.69M	83.2M
Pretax Margin %	-0.26%	-0.07%	-0.04%	0.03%	0.06%	0.03%	0.06%	0.07%
Income Tax+	-3K	-1.78M	12K	-37.78M	-33.33M	-5.92M	8.65M	28.87M
Effective Tax Rate %	1%	-0.1%	1%	5.35%	2.03%	1.24%	0.88%	0.65%
Net Income+	-12.45M	661K	-8.57M	46.46M	65.77M	30.36M	62.04M	54.34M
Net Margin %	-0.26%	0.01%	-0.04%	0.13%	0.13%	0.04%	0.06%	0.05%
Net Income Growth %	-	1.05%	-13.96%	6.42%	0.42%	-0.54%	1.04%	-0.12%
Net Income (Continuing)	-12.46M	-5.12M	-8.57M	46.46M	65.77M	30.36M	62.04M	54.34M
Discontinued Operations	4K	5.78M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	-2.19	0.01	-0.10	0.47	0.66	0.30	0.62	0.57
EPS Growth %	-	1%	-	5.7%	0.4%	-0.55%	1.07%	-0.08%
EPS (Basic)	-2.19	0.01	-0.10	0.54	0.74	0.33	0.65	0.59
Diluted Shares Outstanding	5.69M	81.56M	83.57M	99.06M	100.36M	99.96M	100.67M	95.45M
Basic Shares Outstanding	5.69M	81.56M	83.57M	85.72M	89.11M	92.2M	95.02M	91.48M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	16.77M	24.54M	132.44M	190.22M	258.54M	433.86M	640.41M	472.72M
Cash & Short-Term Investments	4.69M	127K	80.38M	109.3M	119.42M	189.3M	371.09M	227.95M
Cash Only	4.69M	127K	80.38M	70.31M	91.41M	120.08M	97.3M	162.31M
Short-Term Investments	0	0	0	38.99M	28M	69.22M	273.79M	65.64M
Accounts Receivable	11.37M	23.32M	47.06M	75.66M	134.56M	240.07M	241.87M	235.32M
Days Sales Outstanding	85.44	80.77	74.78	80.08	98.1	111.35	81.1	73.59
Inventory	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-
Other Current Assets	0	200K	0	0	0	4.49M	27.45M	9.44M
Total Non-Current Assets+	18.19M	16.79M	17.99M	63.7M	99.53M	109.13M	116.21M	134.38M
Property, Plant & Equipment	597K	776K	3.08M	12.07M	12.83M	15.27M	27.82M	29.63M
Fixed Asset Turnover	81.38x	135.82x	74.50x	28.58x	39.01x	51.52x	39.13x	39.39x
Goodwill	11.88M	11.88M	11.88M	11.88M	11.88M	11.88M	11.88M	15.53M
Intangible Assets	5.34M	3.86M	2.38M	1.21M	599K	99K	0	1.3M
Long-Term Investments	0	0	0	0	0	0	0	0
Other Non-Current Assets	372K	272K	652K	573K	2.94M	3.99M	3.4M	2.98M
Total Assets+	34.96M	41.32M	150.43M	253.93M	358.06M	542.99M	756.62M	607.1M
Asset Turnover	1.39x	2.55x	1.53x	1.36x	1.40x	1.45x	1.44x	1.92x
Asset Growth %	-	0.18%	2.64%	0.69%	0.41%	0.52%	0.39%	-0.2%
Total Current Liabilities+	17.77M	30.2M	36.16M	77.79M	98.82M	159.54M	185.95M	168.63M
Accounts Payable	5.13M	15.58M	19.39M	43.51M	61.4M	109.29M	125.43M	95.1M
Days Payables Outstanding	45.47	66.14	38.42	57.8	57.69	64.38	53.87	37.98
Short-Term Debt	3.56M	253K	0	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	6.73M	11.64M	13M	7.69M	12.26M	8.88M	13.05M	19.87M
Current Ratio	0.94x	0.81x	3.66x	2.45x	2.62x	2.72x	3.44x	2.80x
Quick Ratio	0.94x	0.81x	3.66x	2.45x	2.62x	2.72x	3.44x	2.80x
Cash Conversion Cycle	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	6.5M	106.24M	0	9.19M	7.42M	6.48M	17.24M	16.41M
Long-Term Debt	1.63M	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	8.32M	7.42M	6.48M	17.24M	16.41M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	4.87M	0	0	876K	0	0	0	0
Total Liabilities	24.27M	30.2M	36.16M	86.98M	106.24M	166.02M	203.19M	185.04M
Total Debt+	5.19M	253K	0	9.55M	8.65M	7.71M	19.39M	19.27M
Net Debt	497K	126K	-80.38M	-60.76M	-82.76M	-112.36M	-77.91M	-143.04M
Debt / Equity	0.49x	0.02x	-	0.06x	0.03x	0.02x	0.04x	0.05x
Debt / EBITDA	-	-	-	0.93x	0.26x	0.31x	0.30x	0.27x
Net Debt / EBITDA	-	-	-6.81x	-5.93x	-2.46x	-4.51x	-1.21x	-2.03x
Interest Coverage	-14.87x	-6.95x	166.84x	-	-	-	-	-
Total Equity+	10.69M	11.12M	114.27M	166.95M	251.82M	376.97M	553.43M	422.06M
Equity Growth %	-	0.04%	9.27%	0.46%	0.51%	0.5%	0.47%	-0.24%
Book Value per Share	1.88	0.14	1.37	1.69	2.51	3.77	5.50	4.42
Total Shareholders' Equity	10.69M	11.12M	114.27M	166.95M	251.82M	376.97M	553.43M	422.06M
Common Stock	1K	1K	8K	9K	9K	9K	9K	9K
Retained Earnings	-104.56M	-104.85M	-113.48M	-68.19M	-2.42M	27.93M	89.97M	144.31M
Treasury Stock	0	-884K	-1.01M	-1.01M	-1.01M	-1.01M	-1.01M	-303.89M
Accumulated OCI	-83K	-483K	-150.43M	1K	-93K	501K	2.82M	39K
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-9.47M	2.27M	-1.53M	36.2M	26.04M	80.39M	188.81M	179.1M
Operating CF Margin %	-0.2%	0.02%	-0.01%	0.1%	0.05%	0.1%	0.17%	0.15%
Operating CF Growth %	-	1.24%	-1.68%	24.6%	-0.28%	2.09%	1.35%	-0.05%
Net Income	-12.45M	661K	-8.57M	46.46M	65.77M	30.36M	62.04M	54.34M
Depreciation & Amortization	1.56M	1.88M	2.13M	1.91M	1.3M	1.6M	2.28M	3.17M
Stock-Based Compensation	1.56M	3M	5.06M	0	0	0	0	128.13M
Deferred Taxes	-3K	-1.78M	12K	-37.97M	-33.3M	-6.62M	3.75M	-10.46M
Other Non-Cash Items	1.29M	-1.85M	19.78M	18.46M	43.53M	114.54M	138.18M	15.7M
Working Capital Changes	-1.43M	354K	-19.95M	7.35M	-51.26M	-59.49M	-17.42M	-11.78M
Change in Receivables	-2.04M	-12.78M	-25.34M	-35.34M	-68.68M	-119.3M	-21.74M	-9.87M
Change in Inventory	1.81M	2.58M	0	0	0	0	0	0
Change in Payables	-909K	10.45M	3.5M	25.01M	17.84M	47.69M	16.23M	-30.27M
Cash from Investing+	-612K	1.9M	-2.76M	-40.03M	8.77M	-43.87M	-200.53M	195.79M
Capital Expenditures	-612K	-579K	-2.96M	-1.04M	-2.13M	-3.24M	-3.64M	-5.41M
CapEx % of Revenue	0.01%	0.01%	0.01%	0%	0%	0%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	0	2.48M	200K	0	0	0	0	0
Cash from Financing+	11.77M	-8.74M	84.55M	-6.25M	-13.7M	-7.86M	-11.07M	-309.88M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	25K	65K	3.76M	-8.93M	-17.97M	-12.09M	-17.2M	-9.6M
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	-10.09M	1.69M	-4.49M	35.17M	23.91M	77.15M	185.17M	173.7M
FCF Margin %	-0.21%	0.02%	-0.02%	0.1%	0.05%	0.1%	0.17%	0.15%
FCF Growth %	-	1.17%	-3.65%	8.83%	-0.32%	2.23%	1.4%	-0.06%
FCF per Share	-1.77	0.02	-0.05	0.36	0.24	0.77	1.84	1.82
FCF Conversion (FCF/Net Income)	0.76x	3.44x	0.18x	0.78x	0.40x	2.65x	3.04x	3.30x
Interest Paid	0	0	176K	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	40.45M

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-116.48%	6.06%	-13.67%	33.04%	31.41%	9.66%	13.34%	11.14%
Return on Invested Capital (ROIC)	-73.78%	-23.08%	32.16%	8.94%	17.62%	8.07%	12.6%	13.41%
Gross Margin	15.23%	18.44%	19.81%	20.32%	22.4%	21.26%	21.94%	21.71%
Net Margin	-25.63%	0.63%	-3.73%	13.47%	13.14%	3.86%	5.7%	4.66%
Debt / Equity	0.49x	0.02x	-	0.06x	0.03x	0.02x	0.04x	0.05x
Interest Coverage	-14.87x	-6.95x	166.84x	-	-	-	-	-
FCF Conversion	0.76x	3.44x	0.18x	0.78x	0.40x	2.65x	3.04x	3.30x
Revenue Growth	-	116.94%	117.92%	50.15%	45.17%	57.19%	38.34%	7.22%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Fertility benefit services revenue	-	-	355.62M	510.14M	676.29M	729.55M
Fertility benefit services revenue Growth	-	-	-	43.45%	32.57%	7.87%
Pharmacy benefit services revenue	-	-	145M	276.77M	412.3M	437.67M
Pharmacy benefit services revenue Growth	-	-	-	90.87%	48.97%	6.15%
Fertility Benefit Services	189.62M	253.56M	-	-	-	-
Fertility Benefit Services Growth	-	33.72%	-	-	-	-
Pharmacy Benefit Services	40.06M	91.3M	-	-	-	-
Pharmacy Benefit Services Growth	-	127.88%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Progyny, Inc. (PGNY) has a price-to-earnings (P/E) ratio of 42.6x. This suggests investors expect higher future growth.

Growth & Financials

Progyny, Inc. (PGNY) reported $1.27B in revenue for fiscal year 2024. This represents a 2511% increase from $48.6M in 2017.

Progyny, Inc. (PGNY) grew revenue by 7.2% over the past year. This is steady growth.

Yes, Progyny, Inc. (PGNY) is profitable, generating $56.6M in net income for fiscal year 2024 (4.7% net margin).

Dividend & Returns

Progyny, Inc. (PGNY) has a return on equity (ROE) of 11.1%. This is reasonable for most industries.

Progyny, Inc. (PGNY) generated $190.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

Progyny, Inc. (PGNY) 10-Year Financial Performance & Capital Metrics

PGNY • • Industrial / General

HealthcareHealthcare ITClinical Software & EHR SystemsProvider Management Solutions

Revenue $1.17B +7.2%
EBITDA $71M +9.6%
Net Income $54M -12.4%
EPS (Diluted) 0.57 -8.1%
Gross Margin 21.71% -1.0%
EBITDA Margin 6.05% +2.2%
Operating Margin 5.78% +1.2%
Net Margin 4.66% -18.3%
ROE 11.14% -16.5%
ROIC 13.41% +6.4%
Debt/Equity 0.05 +30.3%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 38.4%
✓Share count reduced 5.2% through buybacks
✓Efficient asset utilization: 1.9x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y38.42%

3Y32.6%

TTM11.41%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-6.17%

TTM-1.23%

EPS CAGR

10Y-

5Y-

3Y-4.77%

TTM8.62%

ROCE

10Y Avg-2.34%

5Y Avg10.85%

3Y Avg11.22%

Latest13.37%

Peer Comparison

Provider Management Solutions

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PRVAPrivia Health Group, Inc.	2.93B	23.86	216.91	4.74%	0.89%	2.38%	3.55%	0.01
PGNYProgyny, Inc.	2.1B	24.31	42.65	7.22%	4.46%	10.1%	8.29%	0.05
DOCSDoximity, Inc.	5.64B	41.05	36.98	19.98%	40.72%	23.1%	4.73%	0.01
HSTMHealthStream, Inc.	653.89M	22.04	33.39	4.51%	6.93%	5.93%	4.51%	0.06
SPOKSpok Holdings, Inc.	272.51M	13.23	18.12	-0.99%	11.88%	11.16%	9.44%	0.06
BTSGBrightSpring Health Services, Inc. Common Stock	7.14B	39.60	-423.08	27.65%	1.04%	7.12%		1.76

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	48.58M	105.4M	229.68M	344.86M	500.62M	786.91M	1.09B	1.17B
Revenue Growth %	-	1.17%	1.18%	0.5%	0.45%	0.57%	0.38%	0.07%
Cost of Goods Sold+	41.18M	85.97M	184.18M	274.8M	388.49M	619.59M	849.8M	913.86M
COGS % of Revenue	0.85%	0.82%	0.8%	0.8%	0.78%	0.79%	0.78%	0.78%
Gross Profit+	7.4M	19.43M	45.51M	70.06M	112.14M	167.32M	238.8M	253.36M
Gross Margin %	0.15%	0.18%	0.2%	0.2%	0.22%	0.21%	0.22%	0.22%
Gross Profit Growth %	-	1.63%	1.34%	0.54%	0.6%	0.49%	0.43%	0.06%
Operating Expenses+	18.41M	22.89M	35.83M	61.71M	79.8M	143.98M	176.62M	185.91M
OpEx % of Revenue	0.38%	0.22%	0.16%	0.18%	0.16%	0.18%	0.16%	0.16%
Selling, General & Admin	18.41M	22.89M	35.83M	61.71M	79.8M	143.98M	176.62M	185.91M
SG&A % of Revenue	0.38%	0.22%	0.16%	0.18%	0.16%	0.18%	0.16%	0.16%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0
Operating Income+	-11.01M	-3.45M	9.68M	8.35M	32.34M	23.34M	62.18M	67.45M
Operating Margin %	-0.23%	-0.03%	0.04%	0.02%	0.06%	0.03%	0.06%	0.06%
Operating Income Growth %	-	0.69%	3.8%	-0.14%	2.87%	-0.28%	1.66%	0.08%
EBITDA+	-9.45M	-1.57M	11.81M	10.25M	33.64M	24.94M	64.47M	70.63M
EBITDA Margin %	-0.19%	-0.01%	0.05%	0.03%	0.07%	0.03%	0.06%	0.06%
EBITDA Growth %	-	0.83%	8.53%	-0.13%	2.28%	-0.26%	1.58%	0.1%
D&A (Non-Cash Add-back)	1.56M	1.88M	2.13M	1.91M	1.3M	1.6M	2.28M	3.17M
EBIT	-11.01M	-3.45M	9.68M	8.35M	32.34M	23.34M	62.18M	67.45M
Net Interest Income+	-740K	-497K	-58K	121K	461K	814K	8.51M	15.75M
Interest Income	0	0	0	121K	461K	814K	8.51M	15.75M
Interest Expense	740K	497K	58K	0	0	0	0	0
Other Income/Expense	-1.45M	-3.44M	-18.23M	331K	95K	1.1M	8.51M	15.75M
Pretax Income+	-12.46M	-6.89M	-8.56M	8.68M	32.44M	24.44M	70.69M	83.2M
Pretax Margin %	-0.26%	-0.07%	-0.04%	0.03%	0.06%	0.03%	0.06%	0.07%
Income Tax+	-3K	-1.78M	12K	-37.78M	-33.33M	-5.92M	8.65M	28.87M
Effective Tax Rate %	1%	-0.1%	1%	5.35%	2.03%	1.24%	0.88%	0.65%
Net Income+	-12.45M	661K	-8.57M	46.46M	65.77M	30.36M	62.04M	54.34M
Net Margin %	-0.26%	0.01%	-0.04%	0.13%	0.13%	0.04%	0.06%	0.05%
Net Income Growth %	-	1.05%	-13.96%	6.42%	0.42%	-0.54%	1.04%	-0.12%
Net Income (Continuing)	-12.46M	-5.12M	-8.57M	46.46M	65.77M	30.36M	62.04M	54.34M
Discontinued Operations	4K	5.78M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	-2.19	0.01	-0.10	0.47	0.66	0.30	0.62	0.57
EPS Growth %	-	1%	-	5.7%	0.4%	-0.55%	1.07%	-0.08%
EPS (Basic)	-2.19	0.01	-0.10	0.54	0.74	0.33	0.65	0.59
Diluted Shares Outstanding	5.69M	81.56M	83.57M	99.06M	100.36M	99.96M	100.67M	95.45M
Basic Shares Outstanding	5.69M	81.56M	83.57M	85.72M	89.11M	92.2M	95.02M	91.48M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	16.77M	24.54M	132.44M	190.22M	258.54M	433.86M	640.41M	472.72M
Cash & Short-Term Investments	4.69M	127K	80.38M	109.3M	119.42M	189.3M	371.09M	227.95M
Cash Only	4.69M	127K	80.38M	70.31M	91.41M	120.08M	97.3M	162.31M
Short-Term Investments	0	0	0	38.99M	28M	69.22M	273.79M	65.64M
Accounts Receivable	11.37M	23.32M	47.06M	75.66M	134.56M	240.07M	241.87M	235.32M
Days Sales Outstanding	85.44	80.77	74.78	80.08	98.1	111.35	81.1	73.59
Inventory	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-
Other Current Assets	0	200K	0	0	0	4.49M	27.45M	9.44M
Total Non-Current Assets+	18.19M	16.79M	17.99M	63.7M	99.53M	109.13M	116.21M	134.38M
Property, Plant & Equipment	597K	776K	3.08M	12.07M	12.83M	15.27M	27.82M	29.63M
Fixed Asset Turnover	81.38x	135.82x	74.50x	28.58x	39.01x	51.52x	39.13x	39.39x
Goodwill	11.88M	11.88M	11.88M	11.88M	11.88M	11.88M	11.88M	15.53M
Intangible Assets	5.34M	3.86M	2.38M	1.21M	599K	99K	0	1.3M
Long-Term Investments	0	0	0	0	0	0	0	0
Other Non-Current Assets	372K	272K	652K	573K	2.94M	3.99M	3.4M	2.98M
Total Assets+	34.96M	41.32M	150.43M	253.93M	358.06M	542.99M	756.62M	607.1M
Asset Turnover	1.39x	2.55x	1.53x	1.36x	1.40x	1.45x	1.44x	1.92x
Asset Growth %	-	0.18%	2.64%	0.69%	0.41%	0.52%	0.39%	-0.2%
Total Current Liabilities+	17.77M	30.2M	36.16M	77.79M	98.82M	159.54M	185.95M	168.63M
Accounts Payable	5.13M	15.58M	19.39M	43.51M	61.4M	109.29M	125.43M	95.1M
Days Payables Outstanding	45.47	66.14	38.42	57.8	57.69	64.38	53.87	37.98
Short-Term Debt	3.56M	253K	0	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	6.73M	11.64M	13M	7.69M	12.26M	8.88M	13.05M	19.87M
Current Ratio	0.94x	0.81x	3.66x	2.45x	2.62x	2.72x	3.44x	2.80x
Quick Ratio	0.94x	0.81x	3.66x	2.45x	2.62x	2.72x	3.44x	2.80x
Cash Conversion Cycle	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	6.5M	106.24M	0	9.19M	7.42M	6.48M	17.24M	16.41M
Long-Term Debt	1.63M	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	8.32M	7.42M	6.48M	17.24M	16.41M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	4.87M	0	0	876K	0	0	0	0
Total Liabilities	24.27M	30.2M	36.16M	86.98M	106.24M	166.02M	203.19M	185.04M
Total Debt+	5.19M	253K	0	9.55M	8.65M	7.71M	19.39M	19.27M
Net Debt	497K	126K	-80.38M	-60.76M	-82.76M	-112.36M	-77.91M	-143.04M
Debt / Equity	0.49x	0.02x	-	0.06x	0.03x	0.02x	0.04x	0.05x
Debt / EBITDA	-	-	-	0.93x	0.26x	0.31x	0.30x	0.27x
Net Debt / EBITDA	-	-	-6.81x	-5.93x	-2.46x	-4.51x	-1.21x	-2.03x
Interest Coverage	-14.87x	-6.95x	166.84x	-	-	-	-	-
Total Equity+	10.69M	11.12M	114.27M	166.95M	251.82M	376.97M	553.43M	422.06M
Equity Growth %	-	0.04%	9.27%	0.46%	0.51%	0.5%	0.47%	-0.24%
Book Value per Share	1.88	0.14	1.37	1.69	2.51	3.77	5.50	4.42
Total Shareholders' Equity	10.69M	11.12M	114.27M	166.95M	251.82M	376.97M	553.43M	422.06M
Common Stock	1K	1K	8K	9K	9K	9K	9K	9K
Retained Earnings	-104.56M	-104.85M	-113.48M	-68.19M	-2.42M	27.93M	89.97M	144.31M
Treasury Stock	0	-884K	-1.01M	-1.01M	-1.01M	-1.01M	-1.01M	-303.89M
Accumulated OCI	-83K	-483K	-150.43M	1K	-93K	501K	2.82M	39K
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-9.47M	2.27M	-1.53M	36.2M	26.04M	80.39M	188.81M	179.1M
Operating CF Margin %	-0.2%	0.02%	-0.01%	0.1%	0.05%	0.1%	0.17%	0.15%
Operating CF Growth %	-	1.24%	-1.68%	24.6%	-0.28%	2.09%	1.35%	-0.05%
Net Income	-12.45M	661K	-8.57M	46.46M	65.77M	30.36M	62.04M	54.34M
Depreciation & Amortization	1.56M	1.88M	2.13M	1.91M	1.3M	1.6M	2.28M	3.17M
Stock-Based Compensation	1.56M	3M	5.06M	0	0	0	0	128.13M
Deferred Taxes	-3K	-1.78M	12K	-37.97M	-33.3M	-6.62M	3.75M	-10.46M
Other Non-Cash Items	1.29M	-1.85M	19.78M	18.46M	43.53M	114.54M	138.18M	15.7M
Working Capital Changes	-1.43M	354K	-19.95M	7.35M	-51.26M	-59.49M	-17.42M	-11.78M
Change in Receivables	-2.04M	-12.78M	-25.34M	-35.34M	-68.68M	-119.3M	-21.74M	-9.87M
Change in Inventory	1.81M	2.58M	0	0	0	0	0	0
Change in Payables	-909K	10.45M	3.5M	25.01M	17.84M	47.69M	16.23M	-30.27M
Cash from Investing+	-612K	1.9M	-2.76M	-40.03M	8.77M	-43.87M	-200.53M	195.79M
Capital Expenditures	-612K	-579K	-2.96M	-1.04M	-2.13M	-3.24M	-3.64M	-5.41M
CapEx % of Revenue	0.01%	0.01%	0.01%	0%	0%	0%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	0	2.48M	200K	0	0	0	0	0
Cash from Financing+	11.77M	-8.74M	84.55M	-6.25M	-13.7M	-7.86M	-11.07M	-309.88M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	25K	65K	3.76M	-8.93M	-17.97M	-12.09M	-17.2M	-9.6M
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	-10.09M	1.69M	-4.49M	35.17M	23.91M	77.15M	185.17M	173.7M
FCF Margin %	-0.21%	0.02%	-0.02%	0.1%	0.05%	0.1%	0.17%	0.15%
FCF Growth %	-	1.17%	-3.65%	8.83%	-0.32%	2.23%	1.4%	-0.06%
FCF per Share	-1.77	0.02	-0.05	0.36	0.24	0.77	1.84	1.82
FCF Conversion (FCF/Net Income)	0.76x	3.44x	0.18x	0.78x	0.40x	2.65x	3.04x	3.30x
Interest Paid	0	0	176K	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	40.45M

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-116.48%	6.06%	-13.67%	33.04%	31.41%	9.66%	13.34%	11.14%
Return on Invested Capital (ROIC)	-73.78%	-23.08%	32.16%	8.94%	17.62%	8.07%	12.6%	13.41%
Gross Margin	15.23%	18.44%	19.81%	20.32%	22.4%	21.26%	21.94%	21.71%
Net Margin	-25.63%	0.63%	-3.73%	13.47%	13.14%	3.86%	5.7%	4.66%
Debt / Equity	0.49x	0.02x	-	0.06x	0.03x	0.02x	0.04x	0.05x
Interest Coverage	-14.87x	-6.95x	166.84x	-	-	-	-	-
FCF Conversion	0.76x	3.44x	0.18x	0.78x	0.40x	2.65x	3.04x	3.30x
Revenue Growth	-	116.94%	117.92%	50.15%	45.17%	57.19%	38.34%	7.22%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Fertility benefit services revenue	-	-	355.62M	510.14M	676.29M	729.55M
Fertility benefit services revenue Growth	-	-	-	43.45%	32.57%	7.87%
Pharmacy benefit services revenue	-	-	145M	276.77M	412.3M	437.67M
Pharmacy benefit services revenue Growth	-	-	-	90.87%	48.97%	6.15%
Fertility Benefit Services	189.62M	253.56M	-	-	-	-
Fertility Benefit Services Growth	-	33.72%	-	-	-	-
Pharmacy Benefit Services	40.06M	91.3M	-	-	-	-
Pharmacy Benefit Services Growth	-	127.88%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Progyny, Inc. (PGNY) has a price-to-earnings (P/E) ratio of 42.6x. This suggests investors expect higher future growth.

Growth & Financials

Progyny, Inc. (PGNY) reported $1.27B in revenue for fiscal year 2024. This represents a 2511% increase from $48.6M in 2017.

Progyny, Inc. (PGNY) grew revenue by 7.2% over the past year. This is steady growth.

Yes, Progyny, Inc. (PGNY) is profitable, generating $56.6M in net income for fiscal year 2024 (4.7% net margin).

Dividend & Returns

Progyny, Inc. (PGNY) has a return on equity (ROE) of 11.1%. This is reasonable for most industries.

Progyny, Inc. (PGNY) generated $190.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.