Progyny Inc (PGNY)
Solvency ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 1.37 | 1.44 | 1.42 | 1.52 | 1.32 |
Progyny Inc has consistently maintained a debt-free capital structure over the past five years, as indicated by the debt-to-assets ratio, debt-to-capital ratio, and debt-to-equity ratio all being at 0.00 throughout the period. This suggests that the company relies primarily on equity financing to fund its operations rather than debt.
However, the financial leverage ratio has shown some variability over the years, ranging from 1.32 in 2019 to 1.52 in 2020. The ratio decreased to 1.37 by the end of 2023. The financial leverage ratio measures the extent to which the company relies on debt to finance its operations. While the fluctuations in this ratio indicate some degree of changing leverage levels, the overall trend suggests that Progyny Inc has managed its financial leverage effectively.
Overall, the solvency ratios reflect a strong financial position for Progyny Inc, with minimal debt levels and a reasonable level of financial leverage that appears to be well-managed.
Coverage ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Interest coverage | — | 28.67 | 70.15 | 68.99 | 19.47 |
Based on the data provided for Progyny Inc, it is noted that the interest coverage ratio for the years 2019, 2020, 2021, 2022, and 2023 is not available (represented as "—") except for the year 2019 when it was observed to be 166.84. The absence of interest coverage data for the subsequent years limits the ability to assess the company's ability to meet its interest obligations through its earnings. It is crucial to have this ratio calculated for each period to evaluate how efficiently Progyny Inc can cover its interest expenses and to monitor any potential changes in its financial health and risk management.