Progyny Inc (PGNY)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,026,510 | 764,072 | 468,881 | 337,710 | 221,506 |
| Payables | US$ in thousands | 125,426 | 109,287 | 61,399 | 43,514 | 19,388 |
| Payables turnover | 8.18 | 6.99 | 7.64 | 7.76 | 11.42 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,026,510K ÷ $125,426K
= 8.18
Progyny Inc's payables turnover ratio measures how efficiently the company is managing its accounts payable by indicating how many times in a year the company pays off its suppliers. A higher payables turnover ratio generally suggests that the company is managing its payables effectively and paying its suppliers promptly.
From the data provided:
- In 2023, Progyny Inc's payables turnover ratio was 6.78, indicating an increase from the previous year.
- Comparing to 2022 and 2021, there was a noticeable improvement in 2023.
- The company's payables turnover ratio was relatively stable in 2020 and 2019.
Overall, Progyny Inc's payables turnover has shown fluctuations over the years, possibly due to changes in the company's payment policies, supplier relationships, or overall operating efficiency. This ratio should be considered in conjunction with other financial metrics to get a holistic view of the company's financial health and management of working capital.
Peer comparison
Dec 31, 2023