Progyny, Inc. — Earnings Quality Grade C
PGNY · Healthcare
Some red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 62 days, change -11 days YoY
AR growth -6.4% vs revenue growth 10.4%
Revenue 10.4%, CFFO 17.4%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 240.6% is >2x revenue growth 10.4%
SG&A/Gross Profit = 72.0%, exceeds 70%
Gross margin 23.6%, change +1.9pp. Stable
Cash Flow Quality
CFFO/NI = 3.59. Profits backed by cash
FCF $0.2B, FCF/NI = 3.28
Accruals ratio = -20.4%. Low accruals
Cash $0.3B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 5% of equity. Manageable
Debt/EBITDA = 0.3x. Healthy
Other assets grew 455.5% vs revenue 10.4%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 56% YoY
Manipulation Score
M-Score = -3.49 (< -2.22). Unlikely manipulator
Portfolio monitoring
Monitor PGNY continuously
The full checks and model details are free to read. Use Watchlist to track your holdings; Pro adds automatic quarterly rescoring, risk-event email alerts, scans up to 50 tickers, and export workflows.
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25