Progyny Inc (PGNY)

Short-term

Turnover ratios

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

1. Inventory Turnover: Unfortunately, the data for inventory turnover is missing throughout the periods presented. Typically, a higher inventory turnover ratio indicates better inventory management efficiency.

2. Receivables Turnover: The receivables turnover ratio measures how efficiently a company is collecting payments from its customers. Progyny's receivables turnover ratio fluctuated over the periods, ranging from 2.32 to 4.14. A higher turnover ratio indicates that Progyny is collecting its receivables more quickly.

3. Payables Turnover: The payables turnover ratio shows how many times a company pays its suppliers during a period. Progyny's payables turnover ratio varied between 5.73 and 11.56. A higher turnover ratio suggests that Progyny is managing its payables effectively by settling its obligations more frequently.

4. Working Capital Turnover: The working capital turnover ratio measures how effectively a company is utilizing its working capital to generate revenue. Progyny's working capital turnover ratio ranged from 2.34 to 3.84 over the periods studied. A higher turnover ratio implies that Progyny is efficiently using its working capital to generate sales.

In summary, while the inventory turnover data is not available, Progyny's receivables turnover, payables turnover, and working capital turnover ratios indicate varying levels of efficiency in managing its accounts receivable, accounts payable, and working capital, respectively, over the periods analyzed. These ratios provide insights into Progyny's operational performance and financial health in terms of managing its assets and liabilities effectively.

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Average number of days

The Days of Sales Outstanding (DSO) for Progyny Inc have shown fluctuations over the reporting periods from June 30, 2020, to December 31, 2024, ranging from 88.24 days to 168.69 days. DSO measures the average number of days it takes a company to collect revenue after a sale is made. The decreasing trend in DSO from December 31, 2021, to December 31, 2024, indicates an improvement in the company's ability to collect payments from its customers more efficiently.

On the other hand, the Number of Days of Payables, which ranged from 31.56 days to 63.68 days during the same periods, illustrates the average number of days it takes for Progyny Inc to pay its suppliers or vendors. A decreasing trend in this ratio indicates that the company is taking longer to pay its payables, which could potentially strain relationships with suppliers.

Furthermore, the Days of Inventory on Hand (DOH) for Progyny Inc remain constant at "— days" across all reporting periods, indicating that the company is managing its inventory efficiently without excess inventory or stockouts.

Overall, the analysis of activity ratios for Progyny Inc highlights an improvement in the collection of receivables (DSO), a potential strain in payables (Number of Days of Payables), and stable inventory management practices (DOH) over the specified reporting periods.

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Long-term

The fixed asset turnover ratio of Progyny Inc has shown a fluctuating trend over the analyzed period. It started at a high of 75.53 in June 2020, steadily increasing to peak at 108.59 in March 2024 before slightly decreasing to 94.31 by December 2024. This indicates the company's efficiency in generating revenue from its fixed assets, with higher values generally signaling better utilization of fixed assets to generate sales.

On the other hand, the total asset turnover ratio, which measures the efficiency of using all assets to generate revenue, started at 1.53 in June 2020 and experienced some fluctuations before increasing to 1.92 by December 2024. The ratio indicates the company's ability to generate sales relative to its total assets, with higher values indicating more efficient use of assets in generating revenue.

Overall, the fixed asset turnover and total asset turnover ratios of Progyny Inc show varying trends over time but suggest that the company has been effectively using its assets to generate revenue, with a potential room for improvement in optimizing fixed asset utilization.