Progyny Inc (PGNY)
Receivables turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,167,818 | 1,140,069 | 1,135,369 | 1,111,361 | 1,091,902 | 1,036,101 | 959,749 | 874,714 | 787,727 | 700,482 | 617,337 | 551,196 | 501,082 | 473,730 | 450,213 | 385,920 | 344,979 | 309,953 | 272,210 |
| Receivables | US$ in thousands | 282,324 | 340,224 | 370,296 | 362,109 | 286,969 | 318,166 | 310,458 | 362,245 | 282,967 | 323,735 | 266,064 | 229,420 | 158,257 | 159,981 | 166,367 | 139,866 | 92,064 | 103,302 | 73,496 |
| Receivables turnover | 4.14 | 3.35 | 3.07 | 3.07 | 3.80 | 3.26 | 3.09 | 2.41 | 2.78 | 2.16 | 2.32 | 2.40 | 3.17 | 2.96 | 2.71 | 2.76 | 3.75 | 3.00 | 3.70 |
December 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,167,818K ÷ $282,324K
= 4.14
The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. A higher receivables turnover ratio indicates that the company is able to collect its outstanding receivables more quickly.
Analyzing the receivables turnover of Progyny Inc over the provided periods, we can observe fluctuations in the ratio. In June 2020, the ratio was 3.70, indicating that Progyny collected its receivables approximately 3.70 times during that period. The ratio decreased to 2.32 by June 2022, suggesting a decline in the company's ability to collect payments efficiently. Subsequently, the ratio improved to 4.14 by December 2024, showing a positive trend in collecting receivables.
It is important to note that a declining receivables turnover ratio could signal potential issues with collecting payments from customers promptly, while an increasing ratio may indicate improved collection efficiency. Overall, monitoring the trend of the receivables turnover ratio can provide insights into Progyny's accounts receivable management and liquidity.
Peer comparison
Dec 31, 2024