Progyny Inc (PGNY)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 756,620 | 726,512 | 681,537 | 649,724 | 542,986 | 510,444 | 462,876 | 415,525 | 358,065 | 336,682 | 312,075 | 294,588 | 253,927 | 202,051 | 177,554 | 180,145 | 150,434 | 72,551 |
| Total stockholders’ equity | US$ in thousands | 553,429 | 515,393 | 469,499 | 424,401 | 376,968 | 346,856 | 311,024 | 279,619 | 251,822 | 224,113 | 204,541 | 184,618 | 166,947 | 125,886 | 118,710 | 119,492 | 114,271 | -91,250 |
| Financial leverage ratio | 1.37 | 1.41 | 1.45 | 1.53 | 1.44 | 1.47 | 1.49 | 1.49 | 1.42 | 1.50 | 1.53 | 1.60 | 1.52 | 1.61 | 1.50 | 1.51 | 1.32 | — |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $756,620K ÷ $553,429K
= 1.37
The financial leverage ratio of Progyny Inc has demonstrated a consistent upward trend over the past eight quarters, increasing from 1.37 in Q4 2022 to 1.53 in Q1 2023, before slightly declining to 1.41 in Q3 2023. This ratio indicates that the company relies more on debt financing compared to equity to fund its operations and growth.
The ratio has mostly remained above 1, indicating that the company has more debt than equity in its capital structure. A financial leverage ratio above 1 suggests that the company is using debt to generate higher returns for its shareholders. However, a high financial leverage ratio also implies higher financial risk, as the company may struggle to meet its debt obligations in adverse economic conditions or if its cash flows decline.
Overall, Progyny Inc's financial leverage ratio has been relatively stable in recent quarters, but investors and stakeholders should continue to monitor it to ensure the company's debt levels remain sustainable and do not pose a significant risk to its financial health.
Peer comparison
Dec 31, 2023