Progyny Inc (PGNY)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,165,810 | 1,091,910 | 787,727 | 501,082 | 344,979 |
| Total current assets | US$ in thousands | 472,721 | 640,407 | 433,856 | 258,539 | 190,222 |
| Total current liabilities | US$ in thousands | 168,627 | 185,950 | 159,536 | 98,824 | 77,786 |
| Working capital turnover | 3.83 | 2.40 | 2.87 | 3.14 | 3.07 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,165,810K ÷ ($472,721K – $168,627K)
= 3.83
Progyny Inc's working capital turnover has shown fluctuations over the past five years. The ratio increased from 3.07 in December 2020 to 3.14 in December 2021, indicating an efficient management of working capital to generate revenue. However, there was a decrease in the ratio to 2.87 in December 2022, suggesting a potential challenge in efficiently utilizing working capital to support the company's operations.
Furthermore, the working capital turnover ratio declined significantly to 2.40 by December 2023, which may indicate potential inefficiencies in managing the company's working capital during that period. However, there was a notable recovery in the ratio to 3.83 by December 2024, reflecting a possible improvement in working capital management efficiency and the ability to effectively convert working capital into revenue.
Overall, Progyny Inc's working capital turnover ratio has displayed fluctuations, showcasing both strengths and areas for improvement in managing its working capital effectively to drive revenue generation.
Peer comparison
Dec 31, 2024