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Stock research / United States / PGNY · Services-Misc Health & Allied Services, Nec · Nasdaq

Progyny, Inc. (PGNY)

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Progyny, Inc. (PGNY) reported revenue of $351 million for Q2 FY2026, the quarter ended 30 June 2026, up 5.3% on the same quarter a year earlier. Net income was $28 million, up 63.9% on the year, and diluted earnings per share $0.34. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2026.

Revenue$351 millionup 5.3%
Net income$28 millionup 63.9%
Diluted EPS$0.34
QuarterQ2 FY2026ended 30 June 2026

Progyny (PGNY) in brief

Progyny (PGNY) reported revenue of $1.3 billion for fiscal 2025, the year ended 31 December 2025, up 10.4% on the year before.
Read moreNet income was $59 million and diluted earnings per share $0.65. Revenue was $1.2 billion in fiscal 2024, $1.1 billion in fiscal 2023, $787 million in fiscal 2022 and $501 million in fiscal 2021. Net income in the same years was $54 million, $62 million, $30 million and $66 million. Over the twelve months to 30 June 2026, Progyny reported revenue of $1.3 billion and net income of $79 million. Revenue grew 30.2% a year, compounded, over the five years to fiscal 2025. Progyny had 77 million shares outstanding at the latest filed count. At 30 June 2026 it carried $0 million of debt and $153 million of cash. At the close of 9 October 2026 the market cap of Progyny was $2.2 billion, 30.4 times its earnings over the last twelve months.

Ratios

From the filings

ROE17.3%
ROCE24.7%
Operating margin8.6%
Net margin6.0%
FCF margin13.6%
Interest covern/a
Debt to equity0.00
Cash conversion2.56
Share count, 1 year-9.9%
Sales CAGR, 3 years17.9%
Profit CAGR, 3 years24.5%
EPS, TTM$0.92

At the close of 9 October 2026

Price$27.94
Market cap$2.2 billion
Stock P/E30.37
Price to book4.77
EV / EBITDA17.05
Dividend yieldn/a
Market cap / sales1.65
52-week high$32.36
52-week low$16.30
Price, 1 year35.8%
Price CAGR, 3 years-7.2%
Price CAGR, 5 years-13.9%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Progyny, Inc.'s balance sheet shows no borrowings, so debt here is nil; lease liabilities are a separate line. Nothing here is a valuation or a view.
PGNYgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on PGNY

Filings18 in twelve months: 9 current reports (8-K), about 5 results of operations; 4 regulation FD disclosure; 2 other events; 1 charter or bylaw amendment, or fiscal year change; 1 shareholder vote
Planned insider sales22 Form 144 notices in twelve months, $2.3 million; latest 23 September 2026
Options tapeput/call 0.13 by open interest at the 9 October 2026 close; the straddle prices a 8.6% move to 16 October 2026
13F holders9 of the followed funds hold it; largest FMR LLC; 5 Schedule 13D or 13G filings in twelve months
Insider trading23 sales and 1 purchase on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest5.1 million shares short, 4.09 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025Q1 FY2026Q2 FY2026
Revenue281270278304287298324333313318329351
Cost of revenue218213216236227235248254241242245261
Gross profit62.656.962.468.359.263.475.879.072.876.983.189.3
Gross margin22%21%22%22%21%21%23%24%23%24%25%25%
R&Dn/an/an/an/an/an/a1.52.32.63.12.83.3
Operating income18.213.818.520.712.515.824.224.421.515.235.440.0
Operating margin6%5%7%7%4%5%7%7%7%5%11%11%
Pre-tax income20.916.322.525.118.017.726.527.124.017.936.941.1
Tax rate24%17%25%34%42%40%43%37%42%30%34%32%
Net income15.913.516.916.510.410.515.117.113.912.524.228.1
Net margin6%5%6%5%4%4%5%5%4%4%7%8%
Diluted EPS$0.16$0.13$0.17$0.17$0.11$0.12$0.17$0.19$0.15$0.14$0.29$0.34
Operating cash flow54.237.725.756.744.552.249.855.550.754.245.950.4
Capital expenditure1.00.70.80.91.81.92.85.34.75.66.36.2
Free cash flow53.237.024.955.842.750.347.050.246.048.639.644.2
Buybacks0.00.023.816061.555.10.00.00.081.711930.0
Shares outstanding96m96m96m91m88m85m86m86m86m83m78m77m
Filing10-K10-K10-K10-K10-K10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read moreMoney is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 9 fiscal years and the trailing twelve months

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue48.61052303455017871,0891,1671,2891,311
Cost of revenue41.286.0184275388620850914984989
Gross profit7.419.445.570.1112167239253304322
Gross margin15.2%18.4%19.8%20.3%22.4%21.3%21.9%21.7%23.6%24.6%
Research and developmentn/an/an/an/an/an/an/an/a9.511.8
Operating income-11.0-3.59.78.332.323.362.267.585.3112
Operating margin-22.7%-3.3%4.2%2.4%6.5%3.0%5.7%5.8%6.6%8.6%
Pre-tax income-12.5-6.9-8.68.732.424.470.783.295.4120
Income tax-0.0-1.80.0-37.8-33.3-5.98.728.936.941.2
Effective tax raten/an/an/a-435.3%-102.8%-24.2%12.2%34.7%38.7%34.4%
Net income-12.50.7-8.646.565.830.462.054.358.578.6
Net margin-25.6%0.6%-3.7%13.5%13.1%3.9%5.7%4.7%4.5%6.0%
Diluted EPS-$2.37-$1.00-$0.41$0.47$0.66$0.30$0.62$0.57$0.65$0.92
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Fertility benefit services revenue67673083164.5%
Pharmacy benefit services revenue41243845835.5%
Fertility benefit services revenuePharmacy benefit services revenue
1,089FY20231,167FY20241,289FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow-9.52.3-1.536.226.080.4189179210201
Capital expenditure0.60.63.01.02.13.23.65.418.422.9
Free cash flow-10.11.7-4.535.223.977.2185174192178
Free cash flow margin-20.8%1.6%-2.0%10.2%4.8%9.8%17.0%14.9%14.9%13.6%
Cash from investing-0.61.9-2.8-40.08.8-43.9-201196-15965.7
Cash from financing11.8-8.784.5-6.2-13.7-7.9-11.1-310-99.4-250
Depreciation and amortisation1.61.92.11.91.31.62.33.24.95.7
Share-based compensation1.63.05.112.833.7101123128132107
Buybacksn/a1.20.2n/an/a0.00.030081.7230
Diluted shares, weighted6m6m21m99m100m100m101m95m90m82m
Shares outstanding at period endn/a5m10m87m91m93m96m85m83m77m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity-97.6-95.1114167252377553422516453
Redeemable equity1081060.0n/an/an/an/an/an/an/a
Short-term borrowingsn/a0.3n/an/an/an/an/an/an/an/a
Debtn/an/an/an/an/a0.00.00.00.00.0
Operating lease liabilitiesn/an/an/a8.37.46.517.216.424.022.5
Other liabilitiesn/a29.936.278.798.8160186169202240
Total liabilities and equityn/a41.3150254358543757607742716
Owned
Fixed assetsn/a0.83.13.45.08.410.212.429.942.0
Goodwilln/a11.911.911.911.911.911.915.520.019.9
Intangible assetsn/a3.92.41.20.60.10.01.36.25.7
Investmentsn/an/an/a39.028.069.227465.619884.3
Cash and equivalents4.70.180.470.391.412097.3162112153
Receivablesn/a23.347.175.7135240242235220257
Other assetsn/a1.45.752.586.693.3122115156154
Total assetsn/a41.3150254358543757607742716
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a30.2%17.9%5.5%
Profit growth, compoundedn/a4.7%24.5%48.0%
Return on equity, averagen/a13.9%11.8%11.3%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Progyny's revenue in fiscal 2025?

Progyny (PGNY) reported revenue of $1.3 billion for fiscal 2025, the year ended 31 December 2025, up 10.4% on the year before.

How much did Progyny earn in fiscal 2025?

Net income was $59 million for fiscal 2025, and diluted earnings per share $0.65.

What is Progyny's P/E ratio?

At the close of 9 October 2026, Progyny traded at 30.4 times its earnings over the twelve months to 30 June 2026.

What is Progyny's market cap?

The market cap of Progyny was $2.2 billion at the close of 9 October 2026.

How much debt does Progyny have?

At 30 June 2026 Progyny carried $0 million of debt and $153 million of cash.

Peers: Healthcare

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Davita Inc. DVA$11.5 billion14.67n/a15.2%6.4%n/an/a
Sotera Health Co. SHC$5.2 billion31.6824.6%n/a8.1%3.21n/a
Veracyte, Inc. VCYT$3.6 billion32.088.2%18.8%17.3%0.00n/a
National Healthcare Corp. NHC$3.6 billion25.5212.5%9.3%6.9%0.001.1%
Acadia Healthcare Company, Inc. ACHC$2.7 billionn/a-56.9%-32.6%4.3%1.22n/a
Privia Health Group, Inc. PRVA$2.6 billion99.293.6%1.9%24.1%0.00n/a
Pediatrix Medical Group, Inc. MD$2.2 billion12.7519.8%11.0%0.5%0.45n/a
Progyny, Inc. PGNY$2.2 billion30.3717.3%8.6%5.5%0.00n/a
Addus HomeCare Corp. ADUS$2.1 billion20.059.2%10.0%15.9%0.05n/a
Fortrea Holdings Inc. FTRE$2.0 billionn/a-16.3%-0.4%-2.1%1.98n/a
Healthcare Services Group Inc. HCSG$1.4 billion11.9723.7%n/a5.2%0.004.2%
U S Physical Therapy Inc. USPH$1.3 billion95.877.2%9.4%11.3%0.492.1%
All 26 in Healthcare
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
HCA Healthcare, Inc. HCA$98.3 billion15.10n/a12.7%7.3%n/a0.7%
Quest Diagnostics Inc. DGX$25.5 billion24.5414.1%14.1%9.9%0.751.4%
Labcorp Holdings Inc. LH$25.3 billion25.8311.6%10.4%6.4%0.680.9%
Tenet Healthcare Corp. THC$21.2 billion10.1748.1%20.8%5.4%2.81n/a
BrightSpring Health Services, Inc. BTSG$12.6 billionn/an/an/an/a1.07n/a
Encompass Health Corp. EHC$12.2 billion20.0723.9%18.0%9.5%1.000.6%
Davita Inc. DVA$11.5 billion14.67n/a15.2%6.4%n/an/a
Universal Health Services Inc. UHS$10.6 billion7.2320.3%11.4%10.0%0.650.5%
Ensign Group, Inc. ENSG$10.0 billion26.9215.5%8.5%18.9%0.060.1%
Hims & Hers Health, Inc. HIMS$7.2 billionn/a-43.8%-6.0%28.0%4.21n/a
Chemed Corp. CHE$6.5 billion25.0833.1%13.5%3.3%0.170.4%
Sotera Health Co. SHC$5.2 billion31.6824.6%n/a8.1%3.21n/a
LifeStance Health Group, Inc. LFST$4.7 billion95.623.4%4.9%20.4%0.19n/a
Concentra Group Holdings Parent, Inc. CON$4.7 billion23.9841.7%16.4%14.0%3.270.7%
Option Care Health, Inc. OPCH$4.7 billion23.3716.6%5.9%5.9%0.92n/a
Veracyte, Inc. VCYT$3.6 billion32.088.2%18.8%17.3%0.00n/a
National Healthcare Corp. NHC$3.6 billion25.5212.5%9.3%6.9%0.001.1%
Acadia Healthcare Company, Inc. ACHC$2.7 billionn/a-56.9%-32.6%4.3%1.22n/a
Privia Health Group, Inc. PRVA$2.6 billion99.293.6%1.9%24.1%0.00n/a
Pediatrix Medical Group, Inc. MD$2.2 billion12.7519.8%11.0%0.5%0.45n/a
Progyny, Inc. PGNY$2.2 billion30.3717.3%8.6%5.5%0.00n/a
Addus HomeCare Corp. ADUS$2.1 billion20.059.2%10.0%15.9%0.05n/a
Fortrea Holdings Inc. FTRE$2.0 billionn/a-16.3%-0.4%-2.1%1.98n/a
Healthcare Services Group Inc. HCSG$1.4 billion11.9723.7%n/a5.2%0.004.2%
U S Physical Therapy Inc. USPH$1.3 billion95.877.2%9.4%11.3%0.492.1%
AdaptHealth Corp. AHCO$829 millionn/a-16.6%-4.5%-0.4%1.37n/a
2 companies share its SEC industry code (Services-Misc Health & Allied Services, Nec); the rest are the names nearest in size in its wider industry, Healthcare, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20267 August 2026EDGAR
10-Q31 March 20268 May 2026EDGAR
10-K31 December 202527 February 2026EDGAR
10-Q30 September 20257 November 2025EDGAR
10-Q30 June 20258 August 2025EDGAR
10-Q31 March 20259 May 2025EDGAR
10-K31 December 20243 March 2025EDGAR
10-Q30 September 202412 November 2024EDGAR
10-Q30 June 20247 August 2024EDGAR
10-Q31 March 202410 May 2024EDGAR

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