Progyny Inc (PGNY)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 62,037 | 30,358 | 65,769 | 46,459 | -8,569 |
| Revenue | US$ in thousands | 1,091,910 | 787,727 | 501,082 | 344,979 | 229,624 |
| Net profit margin | 5.68% | 3.85% | 13.13% | 13.47% | -3.73% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $62,037K ÷ $1,091,910K
= 5.68%
Progyny Inc's net profit margin has shown variability over the past five years. In 2023, the net profit margin improved to 5.70%, representing a higher level of profitability compared to the previous year. This increase indicates that for every dollar of revenue generated, Progyny Inc was able to retain 5.70 cents as net profit after accounting for all expenses.
In 2022, the net profit margin was 3.86%, reflecting a decrease from the previous year. This decline suggests a potential decrease in the company's efficiency in generating profits relative to its revenue.
The most significant increase in net profit margin was observed in 2021, where it peaked at 13.14%. This higher margin indicates improved profitability and cost management by the company during that year.
Similarly, in 2020, the net profit margin was 13.47%, sustaining the high profitability levels from the previous year.
In contrast, in 2019, Progyny Inc reported a negative net profit margin of -3.73%, indicating that the company incurred losses during that year.
Overall, the trend in Progyny Inc's net profit margin shows fluctuations, with periods of both profitability and losses. The company should strive to maintain and improve its net profit margin to ensure sustainable financial performance in the long run.
Peer comparison
Dec 31, 2023