Progyny Inc (PGNY)
Cash conversion cycle
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | — | — | — |
| Days of sales outstanding (DSO) | days | 88.39 | 95.93 | 131.12 | 115.28 | 97.41 |
| Number of days of payables | days | 31.56 | 44.60 | 52.21 | 47.80 | 47.03 |
| Cash conversion cycle | days | 56.83 | 51.33 | 78.91 | 67.48 | 50.38 |
December 31, 2024 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= — + 88.39 – 31.56
= 56.83
The cash conversion cycle of Progyny Inc has shown some fluctuations over the years. As of December 31, 2020, the company had a cash conversion cycle of 50.38 days, indicating that it took approximately 50 days to convert its investments in inventory and other resources back into cash. This number increased to 67.48 days by December 31, 2021, reflecting a potential delay in the company's cash conversion process.
By December 31, 2022, the cash conversion cycle further extended to 78.91 days, suggesting that Progyny Inc was taking longer to convert its resources into cash during that period. However, by December 31, 2023, the cycle decreased significantly to 51.33 days, indicating an improvement in the company's efficiency in managing its cash flow.
As of December 31, 2024, the cash conversion cycle stood at 56.83 days, showing a slight increase from the previous year but still lower than the cycle observed in 2022. Overall, Progyny Inc's cash conversion cycle has fluctuated over the years, with both improvements and challenges in efficiently converting investments into cash.
Peer comparison
Dec 31, 2024