Progyny Inc (PGNY)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 8.18 | 6.99 | 7.64 | 7.76 | 11.42 | |
| Number of days of payables | days | 44.60 | 52.21 | 47.80 | 47.03 | 31.95 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.18
= 44.60
The number of days of payables for Progyny Inc has shown some fluctuations over the past five years. In 2023, the company's number of days of payables decreased to 53.87 days from 64.38 days in 2022, indicating that Progyny took less time to pay off its suppliers or vendors. This could be a positive sign, suggesting improved efficiency in managing its accounts payable.
Comparing 2023 to 2021 and 2020, the number of days of payables increased from 57.69 days and 57.80 days, respectively, pointing to a potential slowdown in the payment cycle. This may indicate that Progyny was taking longer to settle its payables during those years.
In 2019, the number of days of payables was the lowest at 38.42 days, suggesting that Progyny was quicker in paying off its obligations to suppliers compared to the subsequent years. Overall, a lower number of days of payables indicates that the company is efficient in managing its cash flow and relationships with suppliers.
Peer comparison
Dec 31, 2023