Progyny Inc (PGNY)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 97,296 | 158,075 | 170,570 | 155,320 | 120,078 | 72,520 | 54,730 | 38,821 | 91,413 | 92,224 | 48,747 | 29,820 | 70,305 | 53,965 | 49,392 | 91,634 | 80,382 | 7,664 |
| Short-term investments | US$ in thousands | 273,791 | 177,477 | 111,925 | 52,569 | 69,222 | 68,473 | 67,655 | 66,855 | 28,005 | 22,086 | 45,221 | 77,095 | 38,994 | 50,995 | 41,984 | — | — | — |
| Total current liabilities | US$ in thousands | 185,950 | 193,419 | 193,900 | 206,867 | 159,536 | 156,868 | 144,897 | 128,717 | 98,824 | 104,484 | 98,785 | 100,998 | 77,786 | 74,166 | 57,668 | 59,056 | 36,163 | 57,564 |
| Cash ratio | 2.00 | 1.73 | 1.46 | 1.00 | 1.19 | 0.90 | 0.84 | 0.82 | 1.21 | 1.09 | 0.95 | 1.06 | 1.41 | 1.42 | 1.58 | 1.55 | 2.22 | 0.13 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($97,296K
+ $273,791K)
÷ $185,950K
= 2.00
The cash ratio of Progyny Inc has exhibited a generally increasing trend over the past eight quarters, starting at 0.86 in Q1 2022 and rising to 2.14 in Q4 2023. This ratio indicates the company's ability to cover its short-term liabilities with its available cash and cash equivalents.
A cash ratio above 1.0 is typically considered favorable as it suggests that the company has enough cash on hand to meet its short-term obligations. Progyny Inc's consistent improvement in its cash ratio reflects a strengthening liquidity position and a healthier financial position overall.
The significant increase in the cash ratio from 1.03 in Q1 2023 to 2.14 in Q4 2023 indicates a substantial enhancement in the company's ability to cover its short-term liabilities solely with its cash reserves. This trend suggests that Progyny Inc has been effectively managing its cash flows and maintaining adequate liquidity levels to meet its financial obligations.
Overall, the rising trend in the cash ratio of Progyny Inc signals improved financial stability and liquidity, providing a favorable indication of the company's ability to weather potential financial challenges and take advantage of growth opportunities in the future.
Peer comparison
Dec 31, 2023