Progyny Inc (PGNY)
Return on assets (ROA)
| 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 |
| Total assets | US$ in thousands | 756,620 | 542,986 | 358,065 | 253,927 | 150,434 |
| ROA | 8.20% | 5.59% | 18.37% | 18.30% | -5.70% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $62,037K ÷ $756,620K
= 8.20%
The return on assets (ROA) for Progyny Inc has fluctuated over the past five years. In 2019, the company experienced negative ROA, indicating that it generated a net loss in relation to its assets. However, there has been a significant improvement in subsequent years. In 2020 and 2021, the ROA remained stable at around 18%, suggesting that the company was efficiently utilizing its assets to generate profit.
In 2022, there was a slight decrease in ROA to 5.59%, which may indicate a potential decrease in profitability relative to the assets employed. However, the ROA rebounded in 2023 to 8.20%, indicating a better utilization of assets compared to the previous year.
Overall, while the negative ROA in 2019 was concerning, the subsequent years have shown improvement, with 2020 and 2021 being particularly strong. The slight fluctuation in 2022 followed by a recovery in 2023 suggests that Progyny Inc has been actively managing its assets to enhance profitability.
Peer comparison
Dec 31, 2023