Progyny, Inc. (PGNY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PGNY SEC filings page.
Progyny, Inc. (PGNY) reported $1.3B in revenue over the twelve months to Jun 30, 2026, up 5.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash-generative growth is Progyny’s dominant mechanic: margin expansion and disciplined working capital convert revenue into unusually large free cash flow.
FY2025 operating cash flow of$210M exceeded net income of$58.5M , while accounts receivable declined year over year; cash conversion therefore was not driven by receivables swelling. Free cash flow reached$192M even as capital expenditures rose to$18.4M , showing the business produces cash without requiring proportionate reinvestment.
Gross margin expanded from
Liabilities of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Progyny, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Progyny, Inc. has an operating margin of 6.6%, meaning the company retains $7 of operating profit per $100 of revenue. This results in a moderate score of 61/100, indicating healthy but not exceptional operating efficiency. This is up from 5.8% the prior year.
Progyny, Inc.'s revenue grew 10.4% year-over-year to $1.3B, a solid pace of expansion. This earns a growth score of 62/100.
Progyny, Inc. has a moderate D/E ratio of 0.44. This balance of debt and equity financing earns a leverage score of 63/100.
With a current ratio of 2.73, Progyny, Inc. holds $2.73 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 75/100.
Progyny, Inc. converts 14.9% of revenue into free cash flow ($191.8M). This strong cash generation earns a score of 79/100.
Progyny, Inc. earns a strong 11.3% return on equity (ROE), meaning it generates $11 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 77/100. This is down from 12.9% the prior year.
Progyny, Inc. scores 8.58, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.1B) relative to total liabilities ($226.4M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Progyny, Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Progyny, Inc. generates $3.59 in operating cash flow ($210.2M OCF vs $58.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Progyny, Inc. generated $350.5M in revenue in Q2 2026. This represents an increase of 5.3% from the same quarter a year earlier. Against the prior quarter it is up 6.7%.
Progyny, Inc.'s EBITDA was $41.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 62.8% from the same quarter a year earlier. Against the prior quarter it is up 12.9%.
Progyny, Inc. reported $28.1M in net income in Q2 2026. This represents an increase of 63.9% from the same quarter a year earlier. Against the prior quarter it is up 15.8%.
Progyny, Inc. earned $0.34 per diluted share (EPS) in Q2 2026. This represents an increase of 78.9% from the same quarter a year earlier. Against the prior quarter it is up 17.2%.
Cash & Balance Sheet
Progyny, Inc. generated $44.2M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 12.0% from the same quarter a year earlier. Against the prior quarter it is up 11.6%.
Progyny, Inc. held $152.6M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Progyny, Inc.'s gross margin was 25.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.2 percentage points.
Progyny, Inc.'s operating margin was 11.4% in Q2 2026, reflecting core business profitability. This is up 4.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Progyny, Inc.'s net profit margin was 8.0% in Q2 2026, showing the share of revenue converted to profit. This is up 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Progyny, Inc.'s ROE was 6.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.
Capital Allocation
Progyny, Inc. invested $3.3M in research and development in Q2 2026. This represents an increase of 43.5% from the same quarter a year earlier. Against the prior quarter it is up 17.9%.
Progyny, Inc. spent $30.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is down 74.7%.
Progyny, Inc. invested $6.2M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 18.0% from the same quarter a year earlier. Against the prior quarter it is down 2.0%.
PGNY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $350.5M+5.3% | $328.5M+1.4% | $318.4M+6.7% | $313.3M+9.3% | $332.9M+9.5% | $324.0M+16.5% | $298.4M+10.6% | $286.6M+2.0% |
| Cost of Revenue | $261.2M+2.9% | $245.4M-1.1% | $241.5M+2.8% | $240.5M+5.8% | $253.9M+7.7% | $248.2M+15.1% | $235.0M+10.3% | $227.4M+4.2% |
| Gross Profit | $89.3M+13.1% | $83.1M+9.6% | $76.9M+21.2% | $72.8M+22.9% | $79.0M+15.7% | $75.8M+21.5% | $63.4M+11.5% | $59.2M-5.4% |
| R&D Expenses | $3.3M+43.5% | $2.8M+86.7% | N/A | $2.6M | $2.3M | $1.5M | N/A | N/A |
| SG&A Expenses | $31.2M-13.8% | $30.8M-9.0% | $43.7M+36.4% | $33.4M+10.0% | $36.2M+16.2% | $33.8M+19.0% | $32.0M+13.6% | $30.3M+2.7% |
| Operating Income | $40.0M+64.2% | $35.4M+46.4% | $15.2M-3.6% | $21.5M+72.8% | $24.4M+17.7% | $24.2M+30.5% | $15.8M+14.4% | $12.5M-31.5% |
| EBITDA | $41.6M+62.8% | $36.9M+45.8% | $16.6M-0.4% | $22.8M+71.5% | $25.6M+19.2% | $25.3M+31.4% | $16.7M+15.4% | $13.3M-29.2% |
| Income Tax | $13.1M+31.3% | $12.7M+10.2% | $5.4M-24.7% | $10.1M+33.9% | $10.0M+16.1% | $11.5M+104.3% | $7.1M+155.2% | $7.5M+49.8% |
| Net Income | $28.1M+63.9% | $24.2M+60.9% | $12.5M+18.5% | $13.9M+33.0% | $17.1M+3.8% | $15.1M-10.9% | $10.5M-21.8% | $10.4M-34.5% |
| EPS (Basic) | $0.36+80.0% | $0.30+66.7% | $0.15+25.0% | $0.16+33.3% | $0.20+11.1% | $0.180.0% | $0.12-14.3% | $0.12-29.4% |
| EPS (Diluted) | $0.34+78.9% | $0.29+70.6% | $0.14+16.7% | $0.15+36.4% | $0.19+11.8% | $0.170.0% | $0.12-7.7% | $0.11-31.3% |
| Diluted Shares (Avg) | 82M-8.4% | 85M-5.1% | 89M+0.6% | 90M-3.8% | 90M-8.4% | 89M-11.6% | 89M-11.7% | 94M-7.0% |
Not reported in any period shown, so not listed: Interest Expense.
PGNY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $715.8M-5.9% | $698.3M-4.4% | $742.4M+22.3% | $795.2M+20.5% | $761.0M+8.9% | $730.3M-8.1% | $607.1M-19.8% | $660.0M-9.2% |
| Current Assets | $513.0M-13.7% | $501.6M-11.7% | $551.8M+16.7% | $622.0M+13.9% | $594.4M+2.1% | $567.7M-16.7% | $472.7M-26.2% | $546.3M-10.6% |
| Cash & Equivalents | $152.6M+15.2% | $131.6M+20.5% | $112.2M-30.9% | $134.0M+46.5% | $132.5M+39.5% | $109.2M-5.0% | $162.3M+66.8% | $91.5M-42.1% |
| Short-Term Investments | $84.3M-51.2% | $93.5M-36.3% | $197.9M+201.4% | $211.2M+46.4% | $172.6M+3.2% | $146.9M-42.8% | $65.6M-76.0% | $144.2M-18.7% |
| Accounts Receivable | $257.5M-5.3% | $263.6M-12.1% | $220.3M-6.4% | $252.5M-10.1% | $271.9M-7.5% | $299.7M+0.9% | $235.3M-2.7% | $280.7M+4.4% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $19.9M-0.6% | $19.9M+1.2% | $20.0M+28.6% | $20.0M+26.4% | $20.0M+27.9% | $19.7M+65.4% | $15.5M+30.8% | $15.8M+33.0% |
| Total Liabilities | $262.6M+6.8% | $259.0M-1.6% | $226.4M+22.3% | $235.2M+4.5% | $245.9M+1.4% | $263.1M+18.2% | $185.0M-8.9% | $225.1M+6.6% |
| Current Liabilities | $240.1M+8.9% | $235.7M-0.6% | $202.4M+20.0% | $210.5M+1.0% | $220.4M-2.2% | $237.1M+15.2% | $168.6M-9.3% | $208.5M+7.8% |
| Non-Current Liabilities | $22.5M-11.8% | $23.3M-10.6% | $24.0M+46.2% | $24.7M+48.8% | $25.5M+49.5% | $26.0M+54.9% | $16.4M-4.8% | $16.6M-6.1% |
| Total Equity | $453.3M-12.0% | $439.3M-6.0% | $516.0M+22.3% | $560.0M+28.8% | $515.0M+12.9% | $467.2M-18.3% | $422.1M-23.7% | $434.9M-15.6% |
| Retained Earnings | $255.1M+44.6% | $227.1M+42.5% | $202.8M+40.6% | $190.3M+42.3% | $176.5M+43.1% | $159.4M+49.1% | $144.3M+60.4% | $133.8M+74.9% |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
PGNY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $50.4M-9.2% | $45.9M-7.7% | $54.2M+3.9% | $50.7M+13.8% | $55.5M-2.1% | $49.8M+93.6% | $52.2M+38.5% | $44.5M-17.8% |
| Depreciation & Amortization | $1.6M+34.7% | $1.5M+33.8% | $1.4M+57.5% | $1.3M+51.5% | $1.2M+59.8% | $1.1M+54.7% | $868K+36.9% | $837K+44.6% |
| Stock-Based Compensation | $20.5M-36.8% | $19.7M-39.3% | N/A | $32.2M-3.0% | $32.4M-2.0% | $32.5M+4.7% | N/A | $33.2M+6.2% |
| Capital Expenditures | $6.2M+18.0% | $6.3M+123.3% | $5.6M+196.3% | $4.7M+161.1% | $5.3M+508.4% | $2.8M+234.5% | $1.9M+178.3% | $1.8M+88.2% |
| Free Cash Flow | $44.2M-12.0% | $39.6M-15.7% | $48.6M-3.3% | $46.0M+7.6% | $50.2M-10.0% | $47.0M+88.8% | $50.3M+35.9% | $42.7M-19.7% |
| Investing Cash Flow | $3.6M+111.9% | $96.6M+202.1% | $8.3M-89.0% | -$42.7M-378.2% | -$29.9M-134.7% | -$94.6M-589.1% | $75.0M+180.3% | $15.4M+123.9% |
| Financing Cash Flow | -$32.9M-1312.4% | -$123.1M-3644.3% | -$88.3M-56.7% | -$5.5M+91.3% | -$2.3M+98.6% | -$3.3M+88.0% | -$56.3M-1020.9% | -$63.4M-2582.2% |
| Share Buybacks | $30.0M | $118.6M | $81.7M+48.2% | $0-100.0% | $0-100.0% | $0-100.0% | $55.1M | $61.5M |
Not reported in any period shown, so not listed: Dividends Paid.
PGNY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.5%+1.8pp | 25.3%+1.9pp | 24.1%+2.9pp | 23.2%+2.6pp | 23.7%+1.3pp | 23.4%+1.0pp | 21.3%+0.2pp | 20.7%-1.6pp |
| Operating Margin | 11.4%+4.1pp | 10.8%+3.3pp | 4.8%-0.5pp | 6.9%+2.5pp | 7.3%+0.5pp | 7.5%+0.8pp | 5.3%+0.2pp | 4.3%-2.1pp |
| Net Margin | 8.0%+2.9pp | 7.4%+2.7pp | 3.9%+0.4pp | 4.4%+0.8pp | 5.1%-0.3pp | 4.7%-1.4pp | 3.5%-1.5pp | 3.6%-2.0pp |
| Return on Equity | 6.2%+2.9pp | 5.5%+2.3pp | 2.4%-0.1pp | 2.5%+0.1pp | 3.3%-0.3pp | 3.2%+0.3pp | 2.5%+0.1pp | 2.4%-0.7pp |
| Return on Assets | 3.9%+1.7pp | 3.5%+1.4pp | 1.7%-0.1pp | 1.7%+0.2pp | 2.3%-0.1pp | 2.1%-0.1pp | 1.7%-0.1pp | 1.6%-0.6pp |
| Current Ratio | 2.14-0.6x | 2.13-0.3x | 2.73-0.1x | 2.96+0.3x | 2.70+0.1x | 2.39-0.9x | 2.80-0.6x | 2.62-0.5x |
| Debt-to-Equity | 0.58+0.1x | 0.590.0x | 0.440.0x | 0.42-0.1x | 0.48-0.1x | 0.56+0.2x | 0.44+0.1x | 0.52+0.1x |
| Asset Turnover | 0.49+0.1x | 0.470.0x | 0.43-0.1x | 0.390.0x | 0.440.0x | 0.44+0.1x | 0.49+0.1x | 0.430.0x |
| FCF Margin | 12.6%-2.5pp | 12.1%-2.4pp | 15.3%-1.6pp | 14.7%-0.2pp | 15.1%-3.3pp | 14.5%+5.5pp | 16.8%+3.1pp | 14.9%-4.1pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Progyny, Inc. PGNY | FY2025 | $1.3B | $58.5M | 4.5% | $2.1B | 70/100 |
| Clover Health Investments Corp CLOV | FY2025 | $1.9B | -$85.5M | -4.5% | $2.3B | 41/100 |
| Alignment Healthcare, Inc. ALHC | FY2025 | $3.9B | -$724K | 0.0% | $2.8B | 55/100 |
| Oscar Health Inc OSCR | FY2025 | $11.7B | -$443.2M | -3.8% | $10.0B | 46/100 |
| NeueHealth Inc NEUE | FY2024 | $936.7M | -$134.7M | -14.4% | $60.9M | 27/100 |
| Molina Hlthcare MOH | FY2025 | $45.4B | $472.0M | 1.0% | $10.5B | 63/100 |
Where Progyny, Inc. Ranks
Frequently Asked Questions
What is Progyny, Inc.'s annual revenue?
Progyny, Inc. (PGNY) reported $1.3B in total revenue for fiscal year 2025. This represents a 10.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Progyny, Inc.'s revenue growing?
Progyny, Inc. (PGNY) revenue grew by 10.4% year-over-year, from $1.2B to $1.3B in fiscal year 2025.
Is Progyny, Inc. profitable?
Yes, Progyny, Inc. (PGNY) reported a net income of $58.5M in fiscal year 2025, with a net profit margin of 4.5%.
What is Progyny, Inc.'s EBITDA?
Progyny, Inc. (PGNY) had EBITDA of $90.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Progyny, Inc.'s gross margin?
Progyny, Inc. (PGNY) had a gross margin of 23.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Progyny, Inc.'s operating margin?
Progyny, Inc. (PGNY) had an operating margin of 6.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Progyny, Inc.'s net profit margin?
Progyny, Inc. (PGNY) had a net profit margin of 4.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Progyny, Inc.'s return on equity (ROE)?
Progyny, Inc. (PGNY) has a return on equity of 11.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Progyny, Inc.'s free cash flow?
Progyny, Inc. (PGNY) generated $191.8M in free cash flow during fiscal year 2025. This represents a 10.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Progyny, Inc.'s operating cash flow?
Progyny, Inc. (PGNY) generated $210.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Progyny, Inc.'s total assets?
Progyny, Inc. (PGNY) had $742.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Progyny, Inc.'s capital expenditures?
Progyny, Inc. (PGNY) invested $18.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Progyny, Inc. spend on research and development?
Progyny, Inc. (PGNY) invested $9.5M in research and development during fiscal year 2025.
What is Progyny, Inc.'s current ratio?
Progyny, Inc. (PGNY) had a current ratio of 2.73 as of fiscal year 2025, which is generally considered healthy.
What is Progyny, Inc.'s debt-to-equity ratio?
Progyny, Inc. (PGNY) had a debt-to-equity ratio of 0.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Progyny, Inc.'s return on assets (ROA)?
Progyny, Inc. (PGNY) had a return on assets of 7.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Progyny, Inc.'s P/E ratio?
Progyny, Inc. (PGNY) trades at 26.5x earnings, its market capitalization divided by net income of $78.6M net income, trailing 12 months to June 30, 2026. The market capitalization is $2.1B as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Progyny, Inc.'s price-to-sales ratio?
Progyny, Inc. (PGNY) trades at 1.6x sales, its market capitalization divided by revenue of $1.3B revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.1B as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Progyny, Inc.'s Altman Z-Score?
Progyny, Inc. (PGNY) has an Altman Z-Score of 8.58, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Progyny, Inc.'s Piotroski F-Score?
Progyny, Inc. (PGNY) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Progyny, Inc.'s earnings high quality?
Progyny, Inc. (PGNY) has an earnings quality ratio of 3.59x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Progyny, Inc.?
Progyny, Inc. (PGNY) scores 70 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.