Progyny Inc (PGNY)
Payables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,099,870 | 1,026,510 | 764,072 | 468,881 | 337,710 |
| Payables | US$ in thousands | 95,097 | 125,426 | 109,287 | 61,399 | 43,514 |
| Payables turnover | 11.57 | 8.18 | 6.99 | 7.64 | 7.76 |
December 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,099,870K ÷ $95,097K
= 11.57
The payables turnover ratio for Progyny Inc has shown some fluctuations over the years. In December 31, 2020, the ratio stood at 7.76 times, indicating that the company paid its suppliers approximately 7.76 times during that year. The ratio slightly decreased to 7.64 times by December 31, 2021, suggesting a slight elongation in the payment period to suppliers.
By December 31, 2022, the payables turnover ratio further decreased to 6.99 times, indicating a potential slowdown in the payment cycle. However, the ratio improved significantly to 8.18 times by December 31, 2023, signaling an increase in the efficiency of paying off suppliers.
The most notable change occurred by December 31, 2024, where the payables turnover ratio spiked to 11.57 times. This surge implies that Progyny Inc paid its suppliers over 11 times during that year, indicating a swift payment cycle and potentially strong liquidity position or negotiation power with suppliers.
Overall, the payables turnover ratio for Progyny Inc has exhibited variations, with potential impacts on working capital management, relationships with suppliers, and cash flow efficiency. Further analysis and comparison with industry benchmarks could provide more insights into the company's payables management practices.
Peer comparison
Dec 31, 2024