Progyny Inc (PGNY)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | US$ in thousands | 162,314 | 91,480 | 94,960 | 114,959 | 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 |
| Short-term investments | US$ in thousands | 65,640 | 144,240 | 167,228 | 256,872 | 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 |
| Receivables | US$ in thousands | 282,324 | 340,224 | 370,296 | 362,109 | 286,969 | 318,166 | 310,458 | 362,245 | 282,967 | 323,735 | 266,064 | 229,420 | 158,257 | 159,981 | 166,367 | 139,866 | 92,064 | 103,302 | 73,496 |
| Total current liabilities | US$ in thousands | 168,627 | 208,471 | 225,375 | 205,919 | 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 |
| Quick ratio | 3.03 | 2.76 | 2.81 | 3.56 | 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 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($162,314K
+ $65,640K
+ $282,324K)
÷ $168,627K
= 3.03
The quick ratio is a financial ratio that measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that a company has enough liquid assets to cover its short-term liabilities.
Based on the provided data for Progyny Inc, we observe that the quick ratio has shown some fluctuations over the quarters. The quick ratio values ranged from a low of 2.44 on March 31, 2021, to a high of 3.56 on March 31, 2024. The average quick ratio during this period was approximately 2.85.
The quick ratio peaked at 3.56 on March 31, 2024, indicating that Progyny Inc had a significant amount of liquid assets relative to its short-term liabilities at that point in time. Conversely, the lowest quick ratio of 2.44 on March 31, 2021, suggests a relatively lower proportion of liquid assets available to cover short-term obligations.
Overall, Progyny Inc generally maintained a healthy quick ratio above 2 throughout the period under review. This indicates that the company had a strong ability to meet its short-term obligations using its liquid assets. Investors and creditors typically view a quick ratio above 1 as a positive sign of financial health and liquidity management.
Peer comparison
Dec 31, 2024