Progyny, Inc. (PGNY) stock analysis

P/E below its 5-year median

Progyny's P/E of 33.5 is below its own 5-year median of 45.8.

P/E above the industry

Progyny's P/E of 33.5 is above the Health Services median of 23.9.

EV/EBITDA below its 5-year median

Progyny's EV/EBITDA of 19.7 is below its 5-year median of 35.5.

P/B above the industry

Progyny's price-to-book of 6.76 is above the Health Services median of 5.14.

Trading below fair value

The share price of $36.50 is below our fair value estimate of $38.32.

Margin of safety under 20%

The price is 4.7% below fair value, less than the 20% cushion we look for.

Revenue growing 10%+ a year

Revenue grew 17.9% a year over the last three fiscal years.

EPS growing 10%+ a year

Diluted EPS grew 29.4% a year over the last three fiscal years.

Earnings growth accelerating

Net income grew 60.9% over the last twelve months, against a 5-year average of 4.7% a year.

Growing faster than the industry

Revenue grew 5.5% over the last twelve months; the Health Services median is 2.0%.

Guidance lowered

Progyny lowered its Full Year 2026 Outlook Revenue outlook on Aug 6, 2026.

Gross margin improving

Gross margin was 24.9% over the last twelve months, against 22.9% a year earlier.

Return on equity over 15%

Return on equity was 18.7% over the last twelve months and averaged 15.6% over five years.

Return on capital over 10%

Return on invested capital was 40.0%, above the 10% that usually covers the cost of capital.

Return on equity above the industry

Progyny's return on equity of 18.7% is above the Health Services median of 3.6%.

Earnings grew over 5 years

Net income grew 4.7% a year on average over the last five fiscal years.

Net margin above its 5-year average

Net margin was 6.8% over the last twelve months, against a 5-year average of 6.4%.

Net margin above the industry

Progyny's net margin of 6.8% is above the Health Services median of -1.0%.

No debt

Progyny has no borrowings on its latest balance sheet.

Debt not rising

With no debt today, leverage cannot have risen.

Debt covered by cash flow

There is no debt to cover.

Interest well covered

No meaningful interest expense to cover.

Short-term assets cover short-term debts

Current assets are 1.93 times current liabilities.

Low bankruptcy risk

The Altman Z-score is 10.00; above 3 is the safe zone and below 1.8 the distress zone.

No dividend

Progyny has not paid a dividend in the last twelve months.

Yield against Treasuries

No dividend.

Yield against the market

No dividend.

Dividend stability

No dividend.

Earnings cover

No dividend.

Cash-flow cover

No dividend.