Progyny Inc (PGNY)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 640,407 | 433,856 | 258,539 | 190,222 | 132,444 |
| Total current liabilities | US$ in thousands | 185,950 | 159,536 | 98,824 | 77,786 | 36,163 |
| Current ratio | 3.44 | 2.72 | 2.62 | 2.45 | 3.66 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $640,407K ÷ $185,950K
= 3.44
The current ratio of Progyny Inc has shown a generally positive trend over the past five years, indicating the company's ability to meet its short-term obligations with its current assets. The current ratio has improved from 3.66 in 2019 to 3.44 in 2023. This indicates that for every dollar of current liabilities, the company had $3.44 in current assets available in 2023, which is a healthy level and suggests strong liquidity.
The company's current ratio dipped slightly in 2020 to 2.45 but recovered in the following years, reaching 2.62 in 2021 and further increasing to 2.72 in 2022. This fluctuation in the current ratio between 2020 and 2022 may indicate changes in the company's short-term liquidity position during those years.
Overall, Progyny Inc's current ratio has remained above 2.0 in the past five years, indicating a comfortable liquidity position and the ability to meet its short-term obligations. The upward trend in the current ratio from 2019 to 2023 suggests an improvement in the company's ability to cover its current liabilities with its current assets, which is a positive sign for its financial health and stability.
Peer comparison
Dec 31, 2023