Progyny Inc (PGNY)
Quick 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 | 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 | — | — | — |
| Receivables | US$ in thousands | 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 | 86,962 | 55,559 | 53,537 |
| 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 |
| 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 |
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 been consistently above 2 in all quarters presented, indicating a strong ability to cover its short-term obligations with its most liquid assets. The trend shows a gradual increase from 2.40 in Q1 2022 to 3.44 in Q4 2023, reflecting a positive liquidity position over time. This signifies that the company has a sufficient amount of quick assets, such as cash and marketable securities, to meet its current liabilities without relying heavily on inventory. The continual improvement in the quick ratio suggests effective management of working capital and a reduced risk of liquidity problems in the short term for Progyny Inc.
Peer comparison
Dec 31, 2023