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Progyny, Inc.

Rank #118Capital ReturnWatchlistCompare with other stocks

PGNY · Nasdaq · Healthcare

Progyny, Inc. (PGNY) — Rank #118 by gross profitability (GP/assets 0.43) · ROE 12.9% · Piotroski F-Score 5 / 9.

As-of 2026-10-30 · CIK 0001551306 · all metrics point-in-time as of the filing date.

About

Progyny, Inc., a benefits management company, provides fertility, family building, and women's health benefits solutions in the United States.

Show more

It offers fertility benefits solutions, such as differentiated benefits plan design that includes smart cycle treatment bundle; personalized concierge-style member support services; and a selective network of fertility specialists. The company also offers Progyny Rx, an integrated pharmacy benefits solution that provides access to the medications needed during their treatment and offers care management services, as well as pregnancy and postpartum, menopause and midlife, benefit and leave navigation, and parent and child wellbeing solutions. In addition, it provides assistance service program where various services can be offered through a reimbursement program, including adoption, surrogacy, doula, and travel reimbursement when travel is required to receive medical services. The company was formerly known as Auxogyn, Inc. and changed its name to Progyny, Inc. in 2015. Progyny, Inc.

was incorporated in 2008 and is headquartered in New York, New York.

Industry
Healthcare Plans
Sector
Healthcare
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

835

Industry

Healthcare Plans

Exchange

Nasdaq

11/11

Flags passed

PGNY passes 11/11 quality flags

  • PASS
    Gross margin holding
  • PASS
    Dilution within 2%
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Revenue growth accelerating · Operating leverage expanding · Sequential beat (rev + EPS)

No data Balance sheet — not counted as a pass.

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.43
Return on equity
12.9%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.58
Current ratio
2.14×
Net cash
$236.93M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
10.2%

Growth

2/2 pass
Revenue growth
10.4%
Piotroski F-Score
5 / 9
Share dilution
-5.9%

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 0.43

Gross profitability (GP / assets)

0.43

Primary signal (Novy-Marx).

4th of 7 SIC 80 peers

Return on equity

12.9%

Gross margin

23.6%

6th of 7 SIC 80 peers

Revenue growth (YoY)

10.4%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

17.9%

Revenue CAGR (5Y)

30.2%

Earnings CAGR (3Y)

24.5%

FCF CAGR (3Y)

35.5%

Cash Flow Health

Is the cash real?

No warning flags · FCF 228% above net income

Free cash flow

$191.78M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

227.7%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

10.2%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

No warning flags · net cash $236.93M, F-Score 5/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.58

3rd of 6 SIC 80 peers (best = lowest)

Current ratio

2.14×

4th of 7 SIC 80 peers

Quick ratio

2.06×

Net cash

$236.93M

Cash & equivalents minus total debt.

Piotroski F-Score

5 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Capital allocation quality

Composite score

4.3 / 5

Strong
Share count trend(net buybacks)
-5.9%5/5 Strong
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory(deleveraging)
11.1%5/5 Strong

Lifecycle Phase History

20202025
Hypergrowth
Capital Return

Price History

PGNY-53.0% · -14.0% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports