PGNY Stock Analysis: Progyny | NASDAQ

Fertility Benefits, Pharmacy Programs, Pregnancy Care, Family Building

Total Rating 78

Safety 93

Buy Signal 0.34

Healthcare Plans
Industry Rotation: +14.2

Market Cap: 2.06B
Avg Turnover: 29.4M

Risk 3d forecast

Volatility46.8%

VaR 5^th Pctl7.39%

VaR vs Median-3.35%

Reward TTM

Sharpe Ratio0.90

Rel. Str. IBD79.8

Rel. Str. Peer Group50 pctl

Character TTM

Beta0.414

Beta Downside0.285

Hurst Exponent0.473

Choppyness58.0%

Drawdowns 3y

Max DD67.16%

CAGR/Max DD-0.05

CAGR/Mean DD-0.08

EPS (Earnings per Share)

EPS CAGR: 37.10%
EPS Trend: 73.3%

Last SUE: 3.25
Qual. Beats: 2

Revenue

Rev. CAGR: 8.89%
Rev. Trend: 98.7%

Last SUE: 0.18
Qual. Beats: 0

Warnings

No concerns identified

Tailwinds

No distinct edge detected

Seasonality 6.9 years of data

Jan +1.5% 0

Feb -4.7% 32

Mar +0.1% 2

Apr +4.7% 16

May +0.3% 0

Jun +1.9% 19

Jul +3.7% 37

Aug -9.3% 38

Sep -10.4% 48

Oct -7.1% 18

Nov +6.5% 16

Dec +0.5% 0

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.

Description: PGNY Progyny

Progyny, Inc. (NASDAQ: PGNY) is a U.S.-based benefits management company specializing in fertility, family building, and womens health benefits solutions offered primarily through employer-sponsored plans. Its core offering combines a smart cycle treatment bundle, concierge-style member support, and a curated network of fertility specialists, positioning it within the employer-funded health benefits space where self-insured plans increasingly cover infertility treatment as part of workforce benefits packages.

The companys service portfolio extends beyond fertility treatment to include Progyny Rx (an integrated pharmacy benefits solution), pregnancy and postpartum care, menopause and midlife support, leave navigation, and parent and child wellbeing programs. It also operates an assistance program reimbursing expenses related to adoption, surrogacy, doula services, and travel required for medical care, broadening its addressable market beyond traditional IVF coverage.

Founded in 2008 as Auxogyn, Inc. and rebranded to Progyny in 2015, the company is headquartered in New York and went public on NASDAQ in October 2019. It operates within the broader Health Care Services sub-industry, a sector characterized by growing demand for value-based, specialty care coordination as employers seek to contain rising healthcare costs while expanding workforce benefits.

Headlines to Watch Out For

Fertility benefits client growth drives sustained revenue expansion
Pharmacy benefits segment boosts margins through integrated Rx solution
Employer demand for womens health benefits strengthens market positioning

Piotroski VR-10 (Strict) 7.5

Net Income: 78.6m TTM > 0 and > 6% of Revenue
FCF/TA: 0.30 > 0.02 and ΔFCF/TA 5.46 > 1.0
NWC/Revenue: 20.82% < 20% (prev 30.11%; Δ -9.29% < -1%)
CFO/TA 0.35 > 3% & CFO 247.2m > Net Income 78.6m
Net Debt (-187.5m) to EBITDA (127.1m): -1.48 < 3
Current Ratio: 2.14 > 1.5 & < 3
Outstanding Shares: last quarter (82.1m) vs 12m ago -8.36% < -2%
Gross Margin: 24.57% > 18% (prev 22.34%; Δ 2.23% > 0.5%)
Asset Turnover: 177.5% > 50% (prev 163.2%; Δ 14.30% > 0%)
Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM)

Altman Z'' 6.57

A: 0.38 (Total Current Assets 513.0m - Total Current Liabilities 240.1m) / Total Assets 715.8m
B: 0.36 (Retained Earnings 255.1m / Total Assets 715.8m)
C: 0.16 (EBIT TTM 119.8m / Avg Total Assets 738.4m)
D: 1.73 (Book Value of Equity 453.3m / Total Liabilities 262.6m)
Altman-Z'' = 6.57 = AAA

Beneish M -2.93

DSRI: 0.90 (Receivables 257.5m/271.9m, Revenue 1.31b/1.24b)
GMI: 0.91 (GM 22.34% / 24.57%)
AQI: 1.42 (AQ_t 0.22 / AQ_t-1 0.16)
SGI: 1.06 (Revenue 1.31b / 1.24b)
TATA: -0.24 (NI 78.6m - CFO 247.2m) / TA 715.8m)
Beneish M = -2.93 (Cap -4..+1) = A

What is the price of PGNY shares?

As of October 22, 2026, the stock is trading at USD 28.44 with a total of 712,708 shares traded. Over the past week, the price has changed by +2.16%, over one month by +5.88%, over three months by -11.79% and over the past year by +46.52%.

Current recommended Stop Loss: 27.20 (which is 4.4% or 1.3 ATR below the current price).

Is PGNY a buy, sell or hold?

Progyny has received a consensus analysts rating of 4.58. Therefore, it is recommended to buy PGNY.

StrongBuy: 9
Buy: 1
Hold: 2
Sell: 0
StrongSell: 0

What are the forecasts/targets for the PGNY price?

Analysts Target Price	34.4	21%

Progyny (PGNY) - Fundamental Data Overview as of 19 October 2026

Market Cap USD = 2.06b (2.06b USD * 1.0 USD.USD)
P/E Trailing = 29.1957
P/E Forward = 11.8483
P/S = 1.5723
P/B = 4.3725
Revenue TTM = 1.31b USD
EBIT TTM = 119.8m USD
EBITDA TTM = 127.1m USD
Long Term Debt = 22.5m USD (estimated: total debt 27.0m - short term 4.47m)
Short Term Debt = 4.47m USD (from shortTermDebt, last quarter)
Debt = 49.5m USD (from shortLongTermDebtTotal, last quarter) + Leases 22.5m
Net Debt = -187.5m USD (calculated: Debt 49.5m - CCE 236.9m)
Enterprise Value = 1.87b USD (2.06b + Debt 49.5m - CCE 236.9m)
Interest Coverage Ratio = unknown (Ebit TTM 119.8m / Interest Expense TTM 0.0)
EV/FCF = 8.59x (Enterprise Value 1.87b / FCF TTM 218.0m)
FCF Yield = 11.64% (FCF TTM 218.0m / Enterprise Value 1.87b)
FCF Margin = 16.63% (FCF TTM 218.0m / Revenue TTM 1.31b)
Net Margin = 6.00% (Net Income TTM 78.6m / Revenue TTM 1.31b)
Gross Margin = 24.57% ((Revenue TTM 1.31b - Cost of Revenue TTM 988.7m) / Revenue TTM)
Gross Margin QoQ = 25.48% (prev 25.29%)
Tobins Q-Ratio = 2.62 (Enterprise Value 1.87b / Total Assets 715.8m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 49.5m)
Taxrate = 34.38% (41.2m / 119.8m)
NOPAT = 78.6m (EBIT 119.8m * (1 - 34.38%))
Current Ratio = 2.14 (Total Current Assets 513.0m / Total Current Liabilities 240.1m)
Debt / Equity = 0.11 (Debt 49.5m / totalStockholderEquity, last quarter 453.3m)
Debt / EBITDA = -1.48 (Net Debt -187.5m / EBITDA 127.1m)
Debt / FCF = -0.86 (Net Debt -187.5m / FCF TTM 218.0m)
Total Stockholder Equity = 492.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 10.65% (Net Income 78.6m / Total Assets 715.8m)
RoE = 15.98% (Net Income TTM 78.6m / Total Stockholder Equity 492.2m)
RoCE = 23.29% (EBIT 119.8m / Capital Employed (Equity 492.2m + L.T.Debt 22.5m))
RoIC = 18.96% (NOPAT 78.6m / Invested Capital 414.7m)
WACC = 6.87% (E(2.06b)/V(2.11b) * Re(7.04%) + D(49.5m)/V(2.11b) * Rd(0.0%) * (1-Tc(0.34)))
Discount Rate = 7.04% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -95.10 | Cagr: -8.80%
[DCF] Terminal Value 77.91% ; FCFF base≈206.9m ; Y1≈236.4m ; Y5≈344.9m
[DCF] Fair Price = 70.15 (EV 5.19b - Net Debt -187.5m = Equity 5.38b / Shares 76.7m; r=8.35% [WACC [floored]]; 5y FCF grow 14.61% → 2.50% )
EPS Correlation: 73.30 | EPS CAGR: 37.10% | SUE: 3.25 | # QB: 2
Revenue Correlation: 98.69 | Revenue CAGR: 8.89% | SUE: 0.18 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.51 | Chg30d=-0.02% | Revisions=-50% | Analysts=8
EPS current Year (2026-12-31): EPS=2.08 | Chg30d=-0.03% | Revisions=+73% | GrowthEPS=+10.3% | GrowthRev=+6.7%
EPS next Year (2027-12-31): EPS=2.31 | Chg30d=-0.33% | Revisions=+55% | GrowthEPS=+10.9% | GrowthRev=+10.2%
[Analyst] Revisions Ratio: +35% (up=16, down=7)