Progyny Inc (PGNY)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,091,910 | 787,727 | 501,082 | 344,979 | 229,624 |
| Total assets | US$ in thousands | 756,620 | 542,986 | 358,065 | 253,927 | 150,434 |
| Total asset turnover | 1.44 | 1.45 | 1.40 | 1.36 | 1.53 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,091,910K ÷ $756,620K
= 1.44
The total asset turnover of Progyny Inc has shown some fluctuations over the past five years. In 2023, the total asset turnover ratio was 1.44, slightly lower than the previous year's ratio of 1.45. This indicates that Progyny Inc generated $1.44 in revenue for every $1 of total assets in 2023.
Comparing to 2021 and 2020 where the total asset turnover ratios were 1.40 and 1.36 respectively, there seems to be an improvement in 2023. However, the ratio is still lower than the level seen in 2019 when it was 1.53.
Overall, a total asset turnover ratio above 1 indicates that Progyny Inc is effectively utilizing its assets to generate revenue. The downward trend from 2019 to 2020 followed by a fluctuating trend in the following years may suggest varying efficiency in asset utilization, with potential opportunities to further optimize the company's asset management strategies.
Peer comparison
Dec 31, 2023