PGNYNasdaqServices-Misc Health & Allied Services, NECFiscal year ends December 31
Progyny, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$27.84+0.98 (+3.65%)
Close on Oct 19, 2026
- Market cap
- $2.29B
- P/E (TTM)
- 30.3
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
23.6%+3.3 pts over 5 years
Operating margin
6.6%+4.2 pts over 5 years
Net margin
4.5%−8.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.4% | +17.9% | +30.2% | – | |
| Gross profit | +20.2% | +22.1% | +34.2% | – | |
| Operating income | +26.4% | +54.0% | +59.2% | – | |
| Net income | +7.7% | +24.5% | +4.7% | – | |
| EPS, diluted | +14.0% | +29.4% | +6.7% | – | |
| Free cash flow | +10.4% | +35.5% | +40.4% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 33.0% | 12.5% | |
| Return on assets | – | 23.0% | 8.7% | |
| Current ratio | – | 2.45 | 2.73 | |
| Capex to revenue | 1.3% | 0.3% | 1.4% | |
| Diluted shares | 6M | 99M | 90M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Progyny generated $684.54M from operations and spent $414.76M on capital expenditure, dividends and share buybacks. 8% of that went back into the business.
Generated
$684.54M
Used
$414.76M
Capital expenditure$32.83M8%Dividends$00%Share buybacks$381.94M92%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin4.5%
×Asset turnover1.91×
×Equity multiplier1.44×
=Return on equity, FY202512.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 4.5% | 1.91× | 1.44× | 12.5% |
| FY2024 | 4.7% | 1.71× | 1.40× | 11.1% |
| FY2023 | 5.7% | 1.68× | 1.40× | 13.3% |
| FY2022 | 3.9% | 1.75× | 1.43× | 9.7% |
| FY2021 | 13.1% | 1.64× | 1.46× | 31.4% |
| FY2020 | 13.5% | 1.71× | 1.44× | 33.0% |
| FY2019 | -3.7% | 2.40× | 10.01× | -89.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$58.52M
- Cash generatingOperating cash flow above zero$210.19M
- Return on assets improvedROA up on the prior year7.2% → 9.6%
- Earnings backed by cashOperating cash flow above net income$210.19M vs $58.52M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.80 → 2.73
- No dilutionShare count did not rise95M → 90M
- Gross margin improvedGross margin up on the prior year21.71% → 23.63%
- More efficientAsset turnover rose1.54 → 2.12