Progyny Inc (PGNY)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,091,910 | 787,727 | 501,082 | 344,979 | 229,624 |
| Property, plant and equipment | US$ in thousands | 10,213 | 8,371 | 5,027 | 3,400 | 3,083 |
| Fixed asset turnover | 106.91 | 94.10 | 99.68 | 101.46 | 74.48 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,091,910K ÷ $10,213K
= 106.91
The fixed asset turnover of Progyny Inc has shown a fluctuating trend over the past five years. In 2023, the fixed asset turnover ratio significantly increased to 106.59, indicating that the company generated $106.59 in revenue for every dollar invested in fixed assets during the year. This suggests that the company efficiently utilized its fixed assets to generate sales.
Comparing this to previous years, we observe variability in the ratio. In 2022, the fixed asset turnover was 94.00, showing a slight decrease from the previous year. However, in 2021 and 2020, the ratio improved to 99.59 and 101.43, respectively, indicating better efficiency in asset utilization.
The lowest fixed asset turnover ratio of 74.50 was recorded in 2019, signifying a decrease in efficiency in generating revenue from fixed assets that year.
Overall, the recent increase in the fixed asset turnover ratio for Progyny Inc indicates an improvement in the efficiency of utilizing fixed assets to generate revenue. It is essential for the company to sustain or further enhance this efficiency to maximize profitability and shareholder value.
Peer comparison
Dec 31, 2023