NASDAQ : PGNY
Progyny, Inc. — Financial statements
Healthcare · Healthcare Plans · United States
Last price 29.19 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.24B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Progyny, Inc. (PGNY) reported revenue of 1.31B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.31B | 1.29B | 1.17B | 1.09B | 786.91M | 500.62M |
| Cost of Revenue | 988.68M | 984.18M | 913.86M | 849.80M | 619.59M | 388.49M |
| Gross Profit | 322.09M | 304.48M | 253.36M | 238.80M | 167.32M | 112.14M |
| Selling, General & Admin | 202.26M | 211.51M | 185.91M | 176.62M | 143.98M | 79.80M |
| Operating Expenses | 202.26M | 211.51M | 185.91M | 176.62M | 143.98M | 79.80M |
| Operating Income | 119.83M | 92.98M | 67.45M | 62.18M | 23.34M | 32.34M |
| Interest & Investment Income | 7.66M | 10.15M | 5.76M | 3.31M | 805.00K | 461.00K |
| EBT Excluding Unusual Items | 127.49M | 103.13M | 73.22M | 65.50M | 24.15M | 32.80M |
| Gain (Loss) on Sale of Investments | 52.00K | 9.98M | 5.20M | 295.00K | -366.00K | |
| Other Unusual Items | -7.70M | -7.70M | ||||
| Pretax Income | 119.84M | 95.43M | 83.20M | 70.69M | 24.44M | 32.44M |
| Income Tax Expense | 41.20M | 36.91M | 28.87M | 8.65M | -5.92M | -33.33M |
| Earnings From Continuing Operations | 78.63M | 58.52M | 54.34M | 62.04M | 30.36M | 65.77M |
| Net Income | 78.63M | 58.52M | 54.34M | 62.04M | 30.36M | 65.77M |
| Net Income to Common | 78.63M | 58.52M | 54.34M | 62.04M | 30.36M | 65.77M |
| Shares Outstanding (Basic) | 82.59M | 85.65M | 91.48M | 95.02M | 92.20M | 89.11M |
| Shares Outstanding (Diluted) | 86.85M | 89.86M | 95.45M | 100.67M | 99.96M | 100.36M |
| EPS (Basic) | 0.95 | 0.68 | 0.59 | 0.65 | 0.33 | 0.74 |
| EPS (Diluted) | 0.91 | 0.65 | 0.57 | 0.62 | 0.30 | 0.66 |
| Free Cash Flow | 178.38M | 191.78M | 173.70M | 185.17M | 77.15M | 23.91M |
| Free Cash Flow Per Share | 2.05 | 2.13 | 1.82 | 1.84 | 0.77 | 0.24 |
| Gross Margin | 24.57% | 23.63% | 21.71% | 21.94% | 21.26% | 22.40% |
| Operating Margin | 9.14% | 7.22% | 5.78% | 5.71% | 2.97% | 6.46% |
| Profit Margin | 6.00% | 4.54% | 4.66% | 5.70% | 3.86% | 13.14% |
| Free Cash Flow Margin | 13.61% | 14.88% | 14.88% | 17.01% | 9.80% | 4.78% |
| EBITDA | 125.57M | 97.92M | 70.63M | 64.47M | 24.94M | 33.64M |
| EBITDA Margin | 9.58% | 7.60% | 6.05% | 5.92% | 3.17% | 6.72% |
| D&A For EBITDA | 5.74M | 4.95M | 3.17M | 2.28M | 1.60M | 1.30M |
| EBIT | 119.83M | 92.98M | 67.45M | 62.18M | 23.34M | 32.34M |
| EBIT Margin | 9.14% | 7.22% | 5.78% | 5.71% | 2.97% | 6.46% |
| Effective Tax Rate | 34.38% | 38.68% | 34.69% | 12.24% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 152.63M | 112.24M | 162.31M | 97.30M | 120.08M | 91.41M |
| Short-Term Investments | 84.29M | 197.86M | 65.64M | 273.79M | 69.22M | 28.00M |
| Cash & Short-Term Investments | 236.93M | 310.10M | 227.95M | 371.09M | 189.30M | 119.42M |
| Receivables | 257.48M | 220.29M | 235.32M | 241.87M | 240.07M | 134.56M |
| Prepaid Expenses | 17.57M | 21.39M | 9.44M | 27.45M | 4.49M | 4.56M |
| Total Current Assets | 513.02M | 551.77M | 472.72M | 640.41M | 433.86M | 258.54M |
| Property, Plant & Equipment | 65.57M | 54.92M | 29.63M | 27.82M | 15.27M | 12.83M |
| Goodwill | 19.85M | 19.98M | 15.53M | 11.88M | 11.88M | 11.88M |
| Other Intangible Assets | 5.75M | 6.22M | 1.30M | 99.00K | 599.00K | |
| Long-Term Deferred Tax Assets | 93.08M | 93.01M | 84.93M | 73.12M | 77.89M | 71.27M |
| Other Long-Term Assets | 18.57M | 16.54M | 2.98M | 3.40M | 3.99M | 2.94M |
| Total Assets | 715.84M | 742.43M | 607.10M | 756.62M | 542.99M | 358.06M |
| Accounts Payable | 152.05M | 124.07M | 95.10M | 125.43M | 109.29M | 61.40M |
| Accrued Expenses | 42.36M | 42.73M | 33.25M | 26.90M | 16.71M | 14.02M |
| Current Portion of Leases | 4.47M | 3.73M | 2.86M | 2.15M | 1.23M | 1.23M |
| Other Current Liabilities | 41.20M | 31.87M | 37.42M | 31.48M | 32.31M | 22.17M |
| Total Current Liabilities | 240.08M | 202.39M | 168.63M | 185.95M | 159.54M | 98.82M |
| Long-Term Leases | 22.50M | 24.00M | 16.41M | 17.24M | 6.48M | 7.42M |
| Total Liabilities | 262.58M | 226.39M | 185.04M | 203.19M | 166.02M | 106.24M |
| Common Stock | 9.00K | 9.00K | 9.00K | 9.00K | 9.00K | 9.00K |
| Additional Paid-In Capital | 735.42M | 700.78M | 581.60M | 461.64M | 349.53M | 255.34M |
| Retained Earnings | 255.11M | 202.83M | 144.31M | 89.97M | 27.93M | -2.42M |
| Treasury Stock | -537.52M | -388.07M | -303.89M | -1.01M | -1.01M | -1.01M |
| Comprehensive Income & Other | 245.00K | 498.00K | 39.00K | 2.82M | 501.00K | -93.00K |
| Total Common Equity | 453.26M | 516.04M | 422.06M | 553.43M | 376.97M | 251.82M |
| Shareholders' Equity | 453.26M | 516.04M | 422.06M | 553.43M | 376.97M | 251.82M |
| Total Liabilities & Equity | 715.84M | 742.43M | 607.10M | 756.62M | 542.99M | 358.06M |
| Total Debt | 26.97M | 27.73M | 19.27M | 19.39M | 7.71M | 8.65M |
| Net Cash (Debt) | 209.96M | 282.37M | 208.68M | 351.70M | 181.59M | 110.77M |
| Net Cash Per Share | 2.42 | 3.14 | 2.19 | 3.49 | 1.82 | 1.10 |
| Filing Date Shares Outstanding | 76.73M | 81.90M | 85.41M | 96.50M | 93.38M | 91.23M |
| Total Common Shares Outstanding | 76.77M | 82.75M | 84.69M | 95.73M | 93.30M | 91.09M |
| Working Capital | 272.93M | 349.38M | 304.09M | 454.46M | 274.32M | 159.72M |
| Book Value Per Share | 5.90 | 6.24 | 4.98 | 5.78 | 4.04 | 2.76 |
| Tangible Book Value | 427.66M | 489.85M | 405.23M | 541.55M | 364.99M | 239.34M |
| Tangible Book Value Per Share | 5.57 | 5.92 | 4.78 | 5.66 | 3.91 | 2.63 |
| Machinery | 6.63M | 4.91M | 3.61M | 2.73M | 1.57M | |
| Leasehold Improvements | 4.85M | 4.40M | 3.73M | 3.39M | 3.11M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 78.63M | 58.52M | 54.34M | 62.04M | 30.36M | 65.77M |
| Depreciation & Amortization | 5.74M | 4.95M | 3.17M | 2.28M | 1.60M | 1.30M |
| Loss (Gain) From Sale of Assets | 580.00K | 79.00K | 1.41M | |||
| Loss (Gain) From Sale of Investments | -327.00K | -866.00K | -2.12M | -4.33M | ||
| Stock-Based Compensation | 107.17M | 131.87M | 128.13M | 122.61M | 100.75M | 33.71M |
| Provision & Write-off of Bad Debts | 19.68M | 20.53M | 16.40M | 19.93M | 13.79M | 9.78M |
| Other Operating Activities | -7.25M | -7.68M | -10.46M | 3.70M | -6.62M | -33.27M |
| Change in Accounts Receivable | -5.34M | -5.12M | -9.87M | -21.74M | -119.30M | -68.68M |
| Change in Accounts Payable | 11.39M | 28.75M | -30.27M | 16.23M | 47.69M | 17.84M |
| Change in Other Net Operating Assets | -9.04M | -20.84M | 28.37M | -11.92M | 12.12M | -421.00K |
| Operating Cash Flow | 201.25M | 210.19M | 179.10M | 188.81M | 80.39M | 26.04M |
| Capital Expenditures | -22.86M | -18.41M | -5.41M | -3.64M | -3.24M | -2.13M |
| Cash Acquisitions | -9.34M | -5.30M | ||||
| Investment in Securities | 88.52M | -131.26M | 206.50M | -196.88M | -40.62M | 10.89M |
| Investing Cash Flow | 65.66M | -159.01M | 195.79M | -200.53M | -43.87M | 8.77M |
| Issuance of Common Stock | 1.35M | 1.23M | 2.40M | 6.13M | 4.22M | 4.27M |
| Repurchase of Common Stock | -248.01M | -97.50M | -312.28M | -17.20M | -12.09M | -17.97M |
| Other Financing Activities | -3.09M | -3.09M | ||||
| Financing Cash Flow | -249.75M | -99.36M | -309.88M | -11.07M | -7.86M | -13.70M |
| Foreign Exchange Rate Adjustments | -92.00K | 62.00K | 1.00K | 1.00K | ||
| Net Cash Flow | 17.06M | -48.12M | 65.02M | -22.78M | 28.66M | 21.11M |
| Free Cash Flow | 178.38M | 191.78M | 173.70M | 185.17M | 77.15M | 23.91M |
| Free Cash Flow Margin | 13.61% | 14.88% | 14.88% | 17.01% | 9.80% | 4.78% |
| Free Cash Flow Per Share | 2.05 | 2.13 | 1.82 | 1.84 | 0.77 | 0.24 |
| Levered Free Cash Flow | 196.47M | 212.50M | 174.58M | 160.84M | 68.97M | 15.93M |
| Unlevered Free Cash Flow | 196.47M | 212.50M | 174.58M | 160.84M | 68.97M | 15.93M |
| Cash Income Tax Paid | 50.13M | 55.49M | 40.45M | 6.18M | 133.00K | 97.00K |
| Change in Working Capital | -2.99M | 2.80M | -11.78M | -17.42M | -59.49M | -51.26M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.24B | 2.21B | 1.47B | 3.56B | 2.89B | 4.55B |
| Enterprise Value | 2.03B | 1.90B | 1.25B | 3.25B | 2.76B | 4.45B |
| Last Close Price | 29.19 | 25.68 | 17.25 | 37.18 | 31.15 | 50.35 |
| PE Ratio | 32.18 | 37.83 | 27.03 | 57.44 | 95.31 | 69.23 |
| Forward PE | 13.35 | 13.68 | 11.05 | 51.75 | 113.98 | 100.48 |
| PS Ratio | 1.71 | 1.72 | 1.26 | 3.27 | 3.68 | 9.10 |
| PB Ratio | 4.94 | 4.29 | 3.48 | 6.44 | 7.67 | 18.08 |
| P/TBV Ratio | 5.24 | 4.52 | 3.62 | 6.58 | 7.93 | 19.02 |
| P/FCF Ratio | 12.56 | 11.54 | 8.46 | 19.24 | 37.50 | 190.44 |
| P/OCF Ratio | 11.13 | 10.53 | 8.20 | 18.87 | 35.99 | 174.87 |
| PEG Ratio | 1.15 | 1.25 | 1.60 | 1.22 | 9.05 | 1.42 |
| EV/Sales Ratio | 1.55 | 1.47 | 1.07 | 2.98 | 3.51 | 8.88 |
| EV/EBITDA Ratio | 16.16 | 19.37 | 17.74 | 50.37 | 110.67 | 132.21 |
| EV/EBIT Ratio | 16.94 | 20.40 | 18.57 | 52.22 | 118.26 | 137.53 |
| EV/FCF Ratio | 11.38 | 9.89 | 7.21 | 17.54 | 35.78 | 186.03 |
| Debt / Equity Ratio | 0.06 | 0.05 | 0.05 | 0.04 | 0.02 | 0.03 |
| Debt / EBITDA Ratio | 0.21 | 0.27 | 0.26 | 0.29 | 0.29 | 0.25 |
| Debt / FCF Ratio | 0.15 | 0.14 | 0.11 | 0.10 | 0.10 | 0.36 |
| Net Debt / Equity Ratio | -0.46 | -0.55 | -0.49 | -0.64 | -0.48 | -0.44 |
| Net Debt / EBITDA Ratio | -1.67 | -2.88 | -2.96 | -5.46 | -7.28 | -3.29 |
| Net Debt / FCF Ratio | -1.18 | -1.47 | -1.20 | -1.90 | -2.35 | -4.63 |
| Asset Turnover | 1.77 | 1.91 | 1.71 | 1.68 | 1.75 | 1.64 |
| Quick Ratio | 2.06 | 2.62 | 2.75 | 3.30 | 2.69 | 2.57 |
| Current Ratio | 2.14 | 2.73 | 2.80 | 3.44 | 2.72 | 2.62 |
| Return on Equity (ROE) | 16.24% | 12.48% | 11.14% | 13.34% | 9.66% | 31.41% |
| Return on Assets (ROA) | 10.14% | 8.61% | 6.18% | 5.98% | 3.24% | 6.60% |
| Return on Invested Capital (ROIC) | 32.44% | 25.51% | 21.22% | 27.48% | 13.88% | 31.06% |
| Return on Capital Employed (ROCE) | 25.20% | 17.20% | 15.40% | 10.90% | 6.10% | 12.50% |
| Earnings Yield | 3.11% | 2.64% | 3.70% | 1.74% | 1.05% | 1.44% |
| FCF Yield | 7.96% | 8.66% | 11.82% | 5.20% | 2.67% | 0.53% |
| Buyback Yield / Dilution | 4.01% | 5.85% | 5.19% | -0.72% | 0.40% | -1.31% |