Progyny Inc. Common Stock (PGNY)

FairStock Score: 59/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn good returns on capital and sell at sensible prices. Progyny administers fertility and family-building benefits for employers, and its financial health is better than average: debt to equity is only 0.05, FairStock calculates ROE of 16.24% and ROCE of 10.14%, and it produced $178.4M of trailing free cash flow, an 8.5% FCF yield. The Piotroski F-Score is 9/9 and Altman Z-Score is 6.43, so near-term solvency is not my worry. Growth, however, is uneven. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $350.5M, net income $28.1M, and diluted EPS $0.34, up from $328.5M, $24.2M, and $0.29 in fiscal Q1 2026, the quarter ended 2026-03-31. But full-year figures show a slow profit engine: fiscal 2025, the year ended 2025-12-31, had revenue of $1.3B, net income of $58.5M, and diluted EPS of $0.65; fiscal 2024 had $1.2B, $54.3M, and $0.57; fiscal 2023 had $1.1B, $62.0M, and $0.62. FairStock classifies it as a SLOW GROWER because profit compounded 4.7% annually over five years, even though revenue compounded 30.2%. The employer relationships and network may create some stickiness, but I do not see a wide moat. At the 2026-10-13 close of $27.39, FairStock's P/E is 29.77, P/B is 4.64, EV/EBITDA is 16.73, and the Graham Number is $11.01, implying a -148.77% margin of safety. Even with a 0.47 PEG, the price demands more consistent profit growth than the filed record shows.

In plain English: Progyny helps employers offer fertility and family-building benefits, including a network of specialists and pharmacy support. The business is profitable and produces cash, and in the most recent quarter sales and profit rose from the prior quarter. However, the share price of $27.39 on 2026-10-13 looks expensive next to the company's profits and its slow long-term profit record.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-K (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer