Fact based stock research
Progyny (NasdaqGS:PGNY)

US74340E1038

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

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Progyny stock research in summary

progyny.com

ANALYSIS: With an Obermatt Combined Rank of 34 (worse than 66% compared with investment alternatives), Progyny (Health Care Managed, USA) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Progyny are low in value (priced high) with a consolidated Value Rank of 5 (worse than 95% of alternatives) and show below-average growth (Growth Rank of 33) but are safely financed (Safety Rank of 60), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 34, is a hold recommendation based on Progyny's financial characteristics. As the company Progyny's critical financial metrics exhibit below-average performance, such as low value (Obermatt Value Rank of 5) and low growth (Obermatt Growth Rank of 33), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. In this case, good financing practices (Obermatt Safety Rank of 60) are a positive sign, because it may allow the company to weather challenging times until the hoped-for cash flows materialize. This may be true for high-tech or biotechnology companies with enough cash to sustain prolonged business development. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and unattractive today. In such cases, the Obermatt Method has limited value, as it is based on facts we can observe today. If the facts lie all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that account for a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	5
Growth Rank	33
Safety Rank	60
Combined Rank	34

Country	USA
Industry	Health Care Managed
Index	NASDAQ
Size class	Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Progyny

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	1	1	12	5
GROWTH
GROWTH	71	95	3	33
SAFETY
SAFETY	95	95	60	60
SENTIMENT
SENTIMENT	97	98	66	^new
360° VIEW
360° VIEW	51	43	67	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Progyny is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	1	1	12	5
GROWTH
GROWTH	71	95	3	33
SAFETY
SAFETY	95	95	60	60
COMBINED
COMBINED	42	42	34	34

Last update of combined financial performance: 4-Jul-2024. Stock analysis on combined financial performance: The higher the rank of Progyny the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 5 (worse than 95% compared with alternatives), Progyny shares are significantly more expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with all four indicators below average for Progyny. Price-to-Sales is 29 which means that the stock price compared with what market professionals expect for future profits is higher than 71% of comparable companies, indicating a low value concerning Progyny's sales levels. Price-to-Book Capital (also referred to as market-to-book ratio) also has a low Price-to-Book Rank of 23, which means that both reliable company size indicators, sales, and invested capital cannot explain the high stock price of Progyny. In addition, the two profit-related value indicators, Price-to-Profit (also referred to as price-earnings, P/E) with a low rank of 15 and Dividend Yield, which is lower than 99% of comparable companies, also make the stock more expensive compared with investment alternatives. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 5, is a sell recommendation based on Progyny's stock price compared with the company's operational size and dividend yields. How can market participants pay such a high price for Progyny? One reason may be that the company is simply too popular. If enough people want a particular stock, its price can exceed reasonable levels. This is often the case for companies offering new and exciting products and everybody wants a piece of the action. Should you pay a lot for a hot stock such as Progyny? It's risky, and even if the stock price continues to grow because of popular demand, it may return to more typical lower levels later. And that return can be sudden and quick, making it impossible for retail investors to exit on time. Sometimes, high prices are deserved. This is the case when it is justified to believe that the company will dominate a market with high profit margins. It has happened in the past for many technology companies and indeed for commercially successful pharmaceutical discoveries. Sometimes they last, sometimes, they get eaten alive. Progyny may be such a type of stock. That would mean, retail investors should be careful, only considering investing a small part of their wealth in this exciting category and always being ready to lose more than half, if not all of the investment. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	7	7	25	29
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	6	18	17	15
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	8	9	30	23
DIVIDEND YIELD
DIVIDEND YIELD	1	1	1	1
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	1	1	12	5

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Progyny; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 33 (better than 33% compared with alternatives), Progyny shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below-average for Progyny. While Sales Growth ranks at 86, professionals currently expect the company to grow more than 86% of its competitors, while all other growth ranks are below the market median. Profit Growth has a rank of 34, which means that, currently, professionals expect the company to grow its profits less than 66% of its competitors, and Capital Growth has a low rank of 1. Historic stock returns were also below average with a current Stock Returns rank of 39 which means that the stock returns have recently been below 61% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 33, is a hold recommendation for growth and momentum investors. If revenues are expected to increase, but all other growth indicators are negative, the company may be investing in future growth through means not visible in the balance sheet and thus not reflected in capital growth. The fact that Stock Returns have been below market doesn't mean that much, as it may be due to overly optimistic investor behavior in the past, which has been corrected to a more reasonable level recently. If that were the case, a positive Value Rank would be a reason to invest because the company is still expected to grow, while stock prices are now at a more reasonable level. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance isn't stellar here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	90	92	14	86
PROFIT GROWTH
PROFIT GROWTH	98	92	18	34
CAPITAL GROWTH
CAPITAL GROWTH	1	67	14	1
STOCK RETURNS
STOCK RETURNS	51	69	13	39
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	71	95	3	33

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Progyny.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 60 (better than 60% compared with alternatives), the company Progyny has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Progyny is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators where two out of three are above average for Progyny.Leverage is at 100, meaning the company has a below-average debt-to-equity ratio. It has less debt than 100% of its competitors.Refinancing is at a rank of 73, meaning that the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 73% of its competitors. Liquidity is at 1, meaning that the company generates less profit to service its debt than 99% of its competitors. This indicates that the company is on the riskier side regarding debt service. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 60 (better than 60% compared with alternatives), Progyny has a financing structure that is safer than that of its competitors. Low leverage and low refinancing risk mean a safer financing situation. However, low liquidity means that current company cash flows are low in relation to the level of debt. This is a sign of caution in case it is expected for profits to remain low. Investors should compare Obermatt’s Value, Growth, and Sentiment Ranks before deciding. They may also want to investigate why cash flows are expected to be low, making debt service for Progyny more challenging. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	100	100	100	100
REFINANCING
REFINANCING	27	58	73	73
LIQUIDITY
LIQUIDITY	83	83	1	1
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	95	95	60	60

Last update of Safety Rank: 4-Jul-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Progyny and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	82	31	^new
OPINIONS CHANGE
OPINIONS CHANGE	79	50	68	^new
PRO HOLDINGS
PRO HOLDINGS	67	92	68	^new
MARKET PULSE
MARKET PULSE	76	95	69	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	97	98	66	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Progyny.
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