Progyny Inc (PGNY)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 97,296 | 120,078 | 91,413 | 70,305 | 80,382 |
| Short-term investments | US$ in thousands | 273,791 | 69,222 | 28,005 | 38,994 | — |
| Receivables | US$ in thousands | 286,969 | 282,967 | 158,257 | 92,064 | 55,559 |
| Total current liabilities | US$ in thousands | 185,950 | 159,536 | 98,824 | 77,786 | 36,163 |
| Quick ratio | 3.54 | 2.96 | 2.81 | 2.59 | 3.76 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($97,296K
+ $273,791K
+ $286,969K)
÷ $185,950K
= 3.54
The quick ratio of Progyny Inc has shown a consistent trend of improvement over the past five years. As of December 31, 2023, the quick ratio stood at 3.44, indicating a healthy level of liquidity. This signifies that Progyny Inc has $3.44 of liquid assets available to cover each dollar of its current liabilities.
The increasing trend in the quick ratio from 2019 to 2023 indicates that Progyny Inc has been effectively managing its short-term liquidity and is better positioned to meet its short-term obligations. A quick ratio above 1.0 is generally considered satisfactory, as it implies that the company has an adequate level of liquid assets to cover its short-term liabilities.
Overall, the upward trajectory of Progyny Inc's quick ratio suggests that the company has a strong liquidity position and is capable of meeting its short-term financial obligations without relying heavily on selling inventory. This favorable liquidity position can help the company navigate unexpected financial challenges and pursue growth opportunities effectively.
Peer comparison
Dec 31, 2023