Progyny Inc (PGNY)
Cash conversion cycle
| 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 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||
| Days of sales outstanding (DSO) | days | 95.93 | 112.08 | 118.07 | 151.16 | 131.12 | 168.69 | 157.31 | 151.92 | 115.28 | 123.26 | 134.88 | 132.28 | 97.41 | 121.65 | 98.55 | |||
| Number of days of payables | days | 44.60 | 49.11 | 52.05 | 63.68 | 52.24 | 55.89 | 56.42 | 58.29 | 47.86 | 46.01 | 47.51 | 56.61 | 47.23 | 51.16 | 43.87 | |||
| Cash conversion cycle | days | 51.33 | 62.97 | 66.02 | 87.48 | 78.87 | 112.80 | 100.89 | 93.63 | 67.42 | 77.25 | 87.36 | 75.67 | 50.18 | 70.49 | 54.68 |
December 31, 2023 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= — + 95.93 – 44.60
= 51.33
The cash conversion cycle of Progyny Inc has shown fluctuations over the past eight quarters. In Q1 2022, the company had a cash conversion cycle of 60.18 days, which decreased to 46.97 days in Q4 2022, indicating an improvement in efficiency. However, in Q1 2023, the cycle significantly increased to 52.80 days, suggesting possible challenges in managing the company's cash flow and working capital.
The trend continued in Q2 2023 and Q3 2023, with the cash conversion cycle further lengthening to 37.47 days and 35.22 days, respectively. This trend reversed in Q4 2023, with a notable decrease to 27.22 days, potentially indicating a more efficient management of cash flow and working capital towards the end of the year.
Overall, the data shows variability in Progyny Inc's cash conversion cycle, with periods of improvement and regression. Analyzing the factors contributing to these fluctuations could offer insights into the company's operational efficiency and financial health.
Peer comparison
Dec 31, 2023