Progyny Inc (PGNY)

Short-term

Turnover ratios

Based on the provided data, let's analyze the activity ratios of Progyny Inc:

1. Inventory Turnover:
The inventory turnover ratio measures how efficiently a company manages its inventory. In this case, Progyny Inc has not provided data for its inventory turnover for any of the years from 2020 to 2024. This could indicate that Progyny Inc has a business model with little to no involvement in maintaining physical inventory or it could suggest that inventory turnover data is not available or relevant for the company's operations.

2. Receivables Turnover:
The receivables turnover ratio indicates how quickly a company collects payments from its customers. Progyny Inc's receivables turnover has shown a fluctuating trend over the years, ranging from 2.78 to 4.13. A higher receivables turnover ratio generally indicates that the company is efficient in collecting payments from its customers.

3. Payables Turnover:
The payables turnover ratio reflects how quickly a company pays its suppliers. Progyny Inc's payables turnover has been increasing over the years, reaching 11.57 in 2024. A higher payables turnover ratio can suggest that the company is taking longer to pay its suppliers, which could indicate improved cash management or bargaining power with suppliers.

4. Working Capital Turnover:
The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate sales. Progyny Inc's working capital turnover has varied from 2.40 to 3.83, indicating fluctuations in the company's ability to generate sales using its working capital. A higher working capital turnover ratio generally suggests better utilization of working capital to drive sales.

Overall, based on the activity ratios analyzed, Progyny Inc appears to have a relatively efficient approach to managing its receivables and payables, although more information about its inventory management practices would provide a more complete picture of its overall operational efficiency.

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Average number of days

Based on the provided data, we can analyze the activity ratios of Progyny Inc as follows:

1. Days of Inventory on Hand (DOH):
- Unfortunately, there is no specific data available for the days of inventory on hand for Progyny Inc across the years provided in the dataset. This ratio is crucial in assessing how efficiently the company manages its inventory levels, but the lack of data makes it challenging to evaluate Progyny's performance in this area.

2. Days of Sales Outstanding (DSO):
- The Days of Sales Outstanding for Progyny Inc show a fluctuating trend over the years, ranging from 88.39 days in 2024 to 131.12 days in 2022. This ratio indicates the average number of days it takes for the company to collect payment after a sale is made. A lower DSO is generally favorable as it implies quicker cash inflows from sales.

3. Number of Days of Payables:
- Progyny Inc's Number of Days of Payables has demonstrated a downward trend from 47.03 days in 2020 to 31.56 days in 2024. This ratio reflects the average number of days the company takes to pay its suppliers. A decreasing trend in this ratio may suggest that the company is paying its suppliers more quickly, which could impact cash flow management and vendor relationships.

Overall, while the Days of Sales Outstanding and Number of Days of Payables provide insights into Progyny Inc's receivables and payables management, the lack of data for the Days of Inventory on Hand limits a comprehensive analysis of the company's overall activity ratios related to inventory management.

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Long-term

The fixed asset turnover ratio for Progyny Inc has shown a slight decline over the period from 2020 to 2022, with a more notable increase in 2023 followed by a slight decrease in 2024. The company's fixed asset turnover indicates how efficiently it is generating revenue from its investment in fixed assets. A higher ratio is generally preferred as it suggests that the company is effectively utilizing its fixed assets to generate sales.

On the other hand, the total asset turnover ratio has shown an increasing trend from 2020 to 2024. This ratio measures the efficiency of the company in using its total assets to generate sales. The rising trend indicates that Progyny Inc has been improving its ability to generate revenue relative to its total asset base over the years.

Overall, while the fixed asset turnover ratio fluctuated slightly, the total asset turnover ratio demonstrated a positive trend, suggesting that Progyny Inc has been steadily improving its efficiency in generating sales in relation to both its fixed and total assets. These ratios provide valuable insights into the company's operational efficiency and asset utilization over the years.