PGNY Stock Analysis: Progyny | NASDAQ
Healthcare Plans | NASDAQ, USA | Market Cap: 2.411m USD | 12M Return: 29.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 37.8M
EPS Trend: 56.9%
Qual. Beats: 9
Rev. Trend: 97.3%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 6.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Progyny, Inc. (NASDAQ: PGNY) is a U.S.-based benefits management company specializing in fertility, family-building, and womens health benefits solutions. Its offerings include a differentiated fertility benefits plan design featuring a smart cycle treatment bundle, concierge-style member support, access to a selective network of fertility specialists, and an integrated pharmacy benefits solution (Progyny Rx) that provides treatment-related medications. The company also extends its platform into pregnancy and postpartum care, menopause and midlife health, parental and child wellbeing, and benefit and leave navigation, along with a reimbursement program covering services such as adoption, surrogacy, doula support, and travel for medical care.
Progyny was incorporated in 2008 and is headquartered in New York, New York. It was originally founded as Auxogyn, Inc. before rebranding to its current name in 2015, and completed its IPO in October 2019. The company operates in the employer-sponsored health benefits sector, selling its fertility and family-building solutions to employers and health plans on a B2B2C basis, with employees then accessing the benefits as part of their workplace coverage - a distribution model that has grown as more U.S. employers add fertility benefits to attract and retain talent.
- Fertility benefit utilization rates drive revenue beats
- Progyny Rx pharmacy margins expand with scale
- Competition from Maven and Carrot pressures employer win rates
| Net Income: 67.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.26 > 0.02 and ΔFCF/TA -0.40 > 1.0 |
| NWC/Revenue: 20.56% < 20% (prev 27.25%; Δ -6.69% < -1%) |
| CFO/TA 0.30 > 3% & CFO 206.3m > Net Income 67.7m |
| Net Debt (-175.6m) to EBITDA (111.1m): -1.58 < 3 |
| Current Ratio: 2.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (84.8m) vs 12m ago -5.10% < -2% |
| Gross Margin: 24.11% > 18% (prev 21.99%; Δ 2.12% > 0.5%) |
| Asset Turnover: 181.0% > 50% (prev 166.1%; Δ 14.91% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.38 (Total Current Assets 501.6m - Total Current Liabilities 235.7m) / Total Assets 698.3m |
| B: 0.33 (Retained Earnings 227.1m / Total Assets 698.3m) |
| C: 0.15 (EBIT TTM 105.8m / Avg Total Assets 714.3m) |
| D: 1.70 (Book Value of Equity 439.3m / Total Liabilities 259.0m) |
| Altman-Z'' = 6.33 = AAA |
| DSRI: 0.83 (Receivables 263.6m/299.7m, Revenue 1.29b/1.21b) |
| GMI: 0.91 (GM 21.99% / 24.11%) |
| AQI: 1.19 (AQ_t 0.20 / AQ_t-1 0.16) |
| SGI: 1.07 (Revenue 1.29b / 1.21b) |
| TATA: -0.20 (NI 67.7m - CFO 206.3m) / TA 698.3m) |
| Beneish M = -3.11 (Cap -4..+1) = AA |
As of July 11, 2026, the stock is trading at USD 30.65 with a total of 973,937 shares traded. Over the past week, the price has changed by +1.42%, over one month by +18.39%, over three months by +88.04% and over the past year by +29.82%.
Current recommended Stop Loss: 29.50 (which is 3.8% or 1.3 ATR below the current price).
Progyny has received a consensus analysts rating of 3.80. Therefore, it is recommended to hold PGNY.
- StrongBuy: 4
- Buy: 0
- Hold: 6
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 30.1 | -1.8% |
P/E Trailing = 39.974
P/E Forward = 14.9701
P/S = 1.8645
P/B = 5.3916
Revenue TTM = 1.29b USD
EBIT TTM = 105.8m USD
EBITDA TTM = 111.1m USD
Long Term Debt = 23.3m USD (estimated: total debt 27.3m - short term 4.03m)
Short Term Debt = 4.03m USD (from shortTermDebt, last quarter)
Debt = 50.5m USD (from shortLongTermDebtTotal, last quarter) + Leases 23.3m
Net Debt = -175.6m USD (calculated: Debt 50.5m - CCE 226.2m)
Enterprise Value = 2.24b USD (2.41b + Debt 50.5m - CCE 226.2m)
Interest Coverage Ratio = unknown (Ebit TTM 105.8m / Interest Expense TTM 0.0)
EV/FCF = 12.12x (Enterprise Value 2.24b / FCF TTM 184.4m)
FCF Yield = 8.25% (FCF TTM 184.4m / Enterprise Value 2.24b)
FCF Margin = 14.26% (FCF TTM 184.4m / Revenue TTM 1.29b)
Net Margin = 5.23% (Net Income TTM 67.7m / Revenue TTM 1.29b)
Gross Margin = 24.11% ((Revenue TTM 1.29b - Cost of Revenue TTM 981.4m) / Revenue TTM)
Gross Margin QoQ = 25.29% (prev 24.15%)
Tobins Q-Ratio = 3.20 (Enterprise Value 2.24b / Total Assets 698.3m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 50.5m)
Taxrate = 36.00% (38.1m / 105.8m)
NOPAT = 67.7m (EBIT 105.8m * (1 - 36.00%))
Current Ratio = 2.13 (Total Current Assets 501.6m / Total Current Liabilities 235.7m)
Debt / Equity = 0.12 (Debt 50.5m / totalStockholderEquity, last quarter 439.3m)
Debt / EBITDA = -1.58 (Net Debt -175.6m / EBITDA 111.1m)
Debt / FCF = -0.95 (Net Debt -175.6m / FCF TTM 184.4m)
Total Stockholder Equity = 507.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 9.48% (Net Income 67.7m / Total Assets 698.3m)
RoE = 13.34% (Net Income TTM 67.7m / Total Stockholder Equity 507.6m)
RoCE = 19.93% (EBIT 105.8m / Capital Employed (Equity 507.6m + L.T.Debt 23.3m))
RoIC = 16.84% (NOPAT 67.7m / Invested Capital 402.0m)
WACC = 8.28% (E(2.41b)/V(2.46b) * Re(8.45%) + D(50.5m)/V(2.46b) * Rd(0.0%) * (1-Tc(0.36)))
Discount Rate = 8.45% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -73.33 | Cagr: -7.39%
[DCF] Terminal Value 74.62% ; FCFF base≈189.0m ; Y1≈180.5m ; Y5≈173.1m
[DCF] Fair Price = 36.99 (EV 2.72b - Net Debt -175.6m = Equity 2.90b / Shares 78.3m; r=8.35% [WACC [floored]]; 5y FCF grow -5.80% → 2.50% )
EPS Correlation: 56.91 | EPS CAGR: 31.89% | SUE: 2.41 | # QB: 9
Revenue Correlation: 97.34 | Revenue CAGR: 10.54% | SUE: 0.16 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.52 | Chg30d=-0.48% | Revisions=+67% | Analysts=8
EPS next Quarter (2026-09-30): EPS=0.52 | Chg30d=-0.10% | Revisions=+70% | Analysts=8
EPS current Year (2026-12-31): EPS=2.06 | Chg30d=-0.16% | Revisions=+67% | GrowthEPS=+8.8% | GrowthRev=+7.4%
EPS next Year (2027-12-31): EPS=2.25 | Chg30d=+1.88% | Revisions=+50% | GrowthEPS=+9.4% | GrowthRev=+8.8%
[Analyst] Revisions Ratio: +83% (up=25, down=1)