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Progyny, Inc. (PGNY) Fundamental Analysis & AI Grade 2026

PGNY Nasdaq Services-Misc Health & Allied Services, NEC DE CIK: 0001551306
Updated This Month • Analysis: May 9, 2026 • SEC Data: 2026-03-31
Combined AI Grade
B
75% Confidence
N/A
B
75% Conf
Pending
Analysis scheduled

📊 PGNY Key Takeaways

Revenue: $328.5M
Net Margin: 7.4%
Free Cash Flow: $39.6M
Current Ratio: 2.13x
Debt/Equity: 0.00x
EPS: $0.29
AI Grade: B with 75% confidence
Progyny, Inc. (PGNY) receives a B fundamental grade with 75% confidence from our AI analysis based on SEC 10-K filings. With revenue of $328.5M, net profit margin of 7.4%, and return on equity (ROE) of 5.5%, Progyny, Inc. demonstrates mixed fundamentals in the Services sector. Below is our complete PGNY stock analysis for 2026.

Is Progyny, Inc. (PGNY) a Good Investment?

Claude

Progyny demonstrates strong financial health with a pristine balance sheet, excellent liquidity, and robust free cash flow generation. However, net income is flat YoY despite 10.4% revenue growth, signaling concerning margin compression and deteriorating operating leverage that requires immediate management attention.

Progyny, Inc. Key Strengths (PGNY)

Claude
  • + Fortress balance sheet: $131.6M cash, zero debt, 2.13x current ratio provides substantial financial flexibility
  • + Strong free cash flow generation: $39.6M FCF (12.1% margin) demonstrates efficient cash conversion and low capital intensity
  • + Conservative capital structure: Asset-light business model with minimal CapEx ($6.3M) and no financial leverage

PGNY Stock Risks: Progyny, Inc. Investment Risks

Claude
  • ! Deteriorating profitability: Net income flat YoY (0% growth) despite 10.4% revenue growth indicates operating expenses outpacing top-line growth
  • ! Poor capital efficiency: 5.5% ROE and 3.5% ROA are below industry standards, showing ineffective deployment of shareholder capital
  • ! Margin compression concerns: 7.4% net margin and 25.3% gross margin are below typical healthcare services benchmarks

Key Metrics to Watch

Claude
  • * Operating margin and gross margin trends - critical to determine if compression is structural or temporary
  • * Net income growth rate relative to revenue growth - must demonstrate improving operating leverage
  • * Return on equity trajectory - essential for assessing long-term shareholder value creation potential

Progyny, Inc. (PGNY) Financial Metrics & Key Ratios

Revenue
$328.5M
Net Income
$24.2M
EPS (Diluted)
$0.29
Free Cash Flow
$39.6M
Total Assets
$698.3M
Cash Position
$131.6M

💡 AI Analyst Insight

Strong liquidity with a 2.13x current ratio provides a solid financial cushion.

PGNY Profit Margin, ROE & Profitability Analysis

Gross Margin 25.3%
Operating Margin 10.8%
Net Margin 7.4%
ROE 5.5%
ROA 3.5%
FCF Margin 12.1%

PGNY vs Services Sector: How Progyny, Inc. Compares

How Progyny, Inc. compares to Services sector averages

Net Margin
PGNY 7.4%
vs
Sector Avg 10.0%
PGNY Sector
ROE
PGNY 5.5%
vs
Sector Avg 16.0%
PGNY Sector
Current Ratio
PGNY 2.1x
vs
Sector Avg 1.5x
PGNY Sector
Debt/Equity
PGNY 0.0x
vs
Sector Avg 0.7x
PGNY Sector

Sector benchmarks are approximate industry averages. Actual sector performance may vary.

Is Progyny, Inc. Stock Overvalued? PGNY Valuation Analysis 2026

Based on fundamental analysis, Progyny, Inc. has mixed fundamental signals relative to the Services sector in 2026.

Return on Equity
5.5%
Sector avg: 16%
Net Profit Margin
7.4%
Sector avg: 10%
Revenue Growth
N/A
Year-over-year
Debt/Equity
0.00x
Sector avg: 0.7x

Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.

Progyny, Inc. Balance Sheet: PGNY Debt, Cash & Liquidity

Current Ratio
2.13x
Quick Ratio
2.13x
Debt/Equity
0.00x
Debt/Assets
37.1%
Interest Coverage
N/A
Long-term Debt
N/A

PGNY Revenue & Earnings Growth: 5-Year Financial Trend

PGNY 5-year financial data: Year 2022: Revenue $786.9M, Net Income $46.5M, EPS $0.47. Year 2023: Revenue $1.1B, Net Income $65.8M, EPS $0.66. Year 2024: Revenue $1.2B, Net Income $30.4M, EPS $0.30. Year 2025: Revenue $1.3B, Net Income $62.0M, EPS $0.62.
Revenue
Net Income
EPS (right axis)

5-Year Trend Summary: Progyny, Inc.'s revenue has grown significantly by 64% over the 5-year period, indicating strong business expansion. The most recent EPS of $0.62 reflects profitable operations.

PGNY Revenue Growth, EPS Growth & YoY Performance

Revenue Growth
N/A
Year-over-year
Net Income Growth
N/A
Year-over-year
EPS Growth
N/A
Earnings per share
FCF Margin
12.1%
Free cash flow / Revenue

PGNY Quarterly Earnings & Performance

Quarterly financial performance data for Progyny, Inc. including revenue, net income, and earnings per share.
Quarter Revenue Net Income EPS
Q1 2026 $324.0M $15.1M $0.17
Q3 2025 $286.6M $10.4M $0.11
Q2 2025 $304.1M $16.5M $0.17
Q1 2025 $278.1M $15.1M $0.17

Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.

Progyny, Inc. Dividends, Buybacks & Capital Allocation

Operating Cash Flow
$45.9M
Cash generated from operations
Stock Buybacks
$118.6M
Shares repurchased (TTM)
Capital Expenditures
$6.3M
Investment in assets
Dividends
None
No dividend program

PGNY SEC Filings: Latest 10-K & 10-Q Analysis

Access official SEC EDGAR filings for Progyny, Inc. (CIK: 0001551306)

📋 Recent SEC Filings

Date Form Document Action
May 27, 2026 8-K pgny-20260521.htm View →
May 26, 2026 4 xslF345X06/wk-form4_1779827155.xml View →
May 26, 2026 4 xslF345X06/wk-form4_1779827083.xml View →
May 26, 2026 4 xslF345X06/wk-form4_1779827032.xml View →
May 26, 2026 4 xslF345X06/wk-form4_1779826998.xml View →

Frequently Asked Questions about PGNY

What is the AI rating for PGNY?

Progyny, Inc. (PGNY) has an AI grade of B with 75% confidence, based on fundamental analysis of SEC EDGAR filings.

What are PGNY's key strengths?

Claude: Fortress balance sheet: $131.6M cash, zero debt, 2.13x current ratio provides substantial financial flexibility. Strong free cash flow generation: $39.6M FCF (12.1% margin) demonstrates efficient cash conversion and low capital intensity.

What are the risks of investing in PGNY?

Claude: Deteriorating profitability: Net income flat YoY (0% growth) despite 10.4% revenue growth indicates operating expenses outpacing top-line growth. Poor capital efficiency: 5.5% ROE and 3.5% ROA are below industry standards, showing ineffective deployment of shareholder capital.

What is PGNY's revenue and growth?

Progyny, Inc. reported revenue of $328.5M.

Does PGNY pay dividends?

Progyny, Inc. does not currently pay dividends.

Where can I find PGNY SEC filings?

Official SEC filings for Progyny, Inc. (CIK: 0001551306) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.

What is PGNY's EPS?

Progyny, Inc. has a diluted EPS of $0.29.

How is the AI analysis conducted?

Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.

What is PGNY's fundamental grade?

Based on our AI fundamental analysis in May 2026, Progyny, Inc. has a B grade with 75% confidence. Review the strengths and risks sections above for full context. This is not investment advice.

Is PGNY stock overvalued or undervalued?

Valuation metrics for PGNY: ROE of 5.5% (sector avg: 16%), net margin of 7.4% (sector avg: 10%). Compare these metrics with sector averages to assess valuation.

What is PGNY's AI grade for 2026?

Our dual AI analysis gives Progyny, Inc. a combined B grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.

What is PGNY's free cash flow?

Progyny, Inc.'s operating cash flow is $45.9M, with capital expenditures of $6.3M. FCF margin is 12.1%.

How does PGNY compare to other Services stocks?

Vs Services sector averages: Net margin 7.4% (avg: 10%), ROE 5.5% (avg: 16%), current ratio 2.13 (avg: 1.5).

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Disclaimer: This analysis is generated by Claude AI (Anthropic) and ChatGPT (OpenAI) based on publicly available SEC EDGAR filings. It does not include stock price data and should not be considered financial advice. All fundamental data is sourced from SEC public domain filings. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.
Data Source: SEC EDGAR | Analysis Date: May 9, 2026 | Data as of: 2026-03-31 | Powered by Claude AI