Progyny Inc (PGNY)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 238,799 | 167,325 | 112,135 | 70,059 | 45,505 |
| Revenue | US$ in thousands | 1,091,910 | 787,727 | 501,082 | 344,979 | 229,624 |
| Gross profit margin | 21.87% | 21.24% | 22.38% | 20.31% | 19.82% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $238,799K ÷ $1,091,910K
= 21.87%
Progyny Inc's gross profit margin has shown a generally increasing trend over the past five years, with a slight decrease in 2020 followed by consecutive increases in 2021, 2022, and 2023. The company's gross profit margin ranged from 19.81% in 2019 to 22.40% in 2021, with the latest reported margin for 2023 at 21.94%. This indicates that Progyny Inc has been able to effectively manage its costs of goods sold relative to its revenue, resulting in a higher percentage of revenue retained as gross profit. The consistent improvement in gross profit margin suggests the company's ability to efficiently control production and operational costs, which is a positive indicator of profitability and operational efficiency.
Peer comparison
Dec 31, 2023