Progyny, Inc.

Health Care
Misc Health and Biotechnology Services
www.progyny.com

Earnings Score
Moat Score

Market Cap $1.30B
PE 23
Debt $NaN
Cash $91.48M
EV $NaN
FCF $160.41M

Earnings

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Sales & Net Margins

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Earnings	$57.27M
EBIT	$81.81M
ROE	13%
ROA	12%
FCF	$160.41M
Equity	$434.88M
Growth Stability	88%
PE	22.77
PEG	1.03
PB	3
P/FCF	8.13
P/S	1.15
Price/Cash	0.07
Net Margins	5%
Gross Margins	22%
Op. Margins	7%
Earnings CAGR	13%
Sales Growth YoY	2%
Sales Growth QoQ	-6%
Sales CAGR	50%
FCF CAGR	98%
Equity CAGR	37%
Earnings Stability	-0.33
Earnings Growth YoY	-34%

Earnings Growth QoQ	-37%
Earnings CAGR 5Y	22%
Sales CAGR 5Y	44%
FCF CAGR 5Y	99%
Equity CAGR 5Y	44%
Earnings CAGR 3Y	37%
Sales CAGR 3Y	37%
FCF CAGR 3Y	159%
Equity CAGR 3Y	29%
Market Cap	$1.30B
Revenue	$1.14B
Assets	$659.97M
Cash	$91.48M
Shares Outstanding	88.34M
Earnings Score	6%
Moat Score	89%
Working Capital	337.83M
Current Ratio	2.62
Gross Profit	$246.83M
Shares Growth 3y	1%
Equity Growth QoQ	-5%
Equity Growth YoY	-16%

Assets & ROA

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Stockholders Equity & ROE

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Progyny Inc is a company engaged in specializing in fertility and family building benefits solutions. Its clients include employers across various industries. The fertility benefits solution consists of the treatment services (Smart Cycles), access to the Progyny network of high-quality fertility specialists that perform the Smart Cycle treatments and active management of the selective network of high-quality provider clinics.

SEC Filings

Direct access to Progyny, Inc. (PGNY) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Progyny, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Progyny, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 13%

Stability -33%

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Progyny, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Progyny, Inc..

Years

Calculation mode

= $716B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$160M	$318M	$632M	$1.3B	$2.5B	$4.9B	$9.8B	$19B	$39B	$76B	$152B	$1.5T
DCF		$289M	$522M	$941M	$1.7B	$3.1B	$5.5B	$10B	$18B	$32B	$58B	$585B
Value	$716B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-28%	-5%	-4%	13%	13%	4%	6%	5%
ROA	-	-8%	6%	3%	9%	5%	9%	12%
ROE	-	6%	-7%	28%	26%	8%	11%	13%

Bad Net Margins (5.04%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	0.15	-	-	-	-	-	-
Debt over Equity	-	-0	-	-	-	-	-	-
Growth Stability	-	-	-	-	100%	88%	100%	88%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Neutral Graham’s Stability (88%)

The company has a stability in its earnings that is not too good nor too bad.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	117%	118%	50%	45%	57%	38%	44%
Earnings YoY growth	-	-59%	55%	-642%	42%	-54%	104%	22%
Equity YoY growth	-	-3%	-220%	46%	51%	50%	47%	44%
FCF YoY growth	-	-117%	-365%	-883%	-32%	223%	140%	99%