Progyny Inc (PGNY)

Liquidity ratios

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
Current ratio 3.44 3.16 2.89 2.55 2.72 2.56 2.46 2.40 2.62 2.44 2.41 2.26 2.45 2.49 2.77 2.74 3.66 0.93
Quick ratio 3.54 3.38 3.06 2.76 2.96 2.96 2.68 2.60 2.81 2.63 2.64 2.44 2.59 2.81 2.86 3.02 3.76 1.06
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

Progyny Inc has consistently shown strong liquidity ratios over the past eight quarters. The current ratio has demonstrated an increasing trend from 2.40 in Q1 2022 to 3.44 in Q4 2023, indicating that the company's current assets are more than sufficient to cover its current liabilities. This suggests a healthy financial position and the ability to meet short-term obligations comfortably.

Similarly, the quick ratio, which excludes inventory from current assets, has also followed an upward trajectory, reflecting the company's ability to meet its short-term liabilities even if inventory cannot be quickly converted to cash. The consistent high values of the quick ratio indicate a strong ability to cover immediate obligations without relying on inventory sales.

The cash ratio, which measures the company's ability to cover its current liabilities with its cash and cash equivalents, has also shown a positive trend. Progyny Inc has progressively increased its cash reserves relative to its current liabilities, with the cash ratio rising from 0.86 in Q1 2022 to 2.14 in Q4 2023. This suggests that the company has a solid cash position to meet its short-term obligations without relying on other current assets.

Overall, Progyny Inc's liquidity ratios indicate a robust financial standing and sound management of working capital, providing a cushion to weather any potential short-term financial challenges.

Additional liquidity measure

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
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

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 increased to 66.47 days in Q2 2022 before slightly decreasing to 65.67 days in Q3 2022. However, in Q4 2022, there was a noticeable improvement as the cash conversion cycle decreased to 46.97 days.

This positive trend continued into the first quarter of 2023 with a further decrease to 52.80 days. However, in Q2 2023, there was a significant increase in the cash conversion cycle to 37.47 days, which further increased to 35.22 days in Q3 2023. The most recent data for Q4 2023 shows a decrease in the cash conversion cycle to 27.22 days.

Overall, although there have been fluctuations in the cash conversion cycle of Progyny Inc, the general trend has been a reduction in the number of days it takes for the company to convert its investments in inventory into cash. This indicates that the company has been managing its working capital more efficiently and improving its liquidity position. Continued monitoring of the cash conversion cycle will be important to assess the company's operational efficiency and financial health.