PGNY
HealthcareProgyny, Inc. · Medical - Healthcare Information Services · $2B
What is Progyny, Inc.?
Progyny, Inc. is a specialty benefits management company focused on fertility and family building solutions for U.S. employers. It connects members with curated fertility specialists and integrated pharmacy support through a concierge-style model.
Progyny partners with self-insured employers to offer fertility benefits that go beyond standard health plan coverage. Its model combines a carefully selected network of fertility specialists with personalized member support and an integrated pharmacy benefits solution called Progyny Rx. The company also administers surrogacy and adoption reimbursement programs, giving employers a comprehensive family building benefits package. Revenue is generated primarily through per-member utilization of these benefit services.
Progyny was incorporated in 2008 and is headquartered in New York City, New York.
- Employer-sponsored fertility benefits plan design
- Progyny Rx integrated pharmacy benefits for fertility medications
- Concierge-style member support and care navigation
- Surrogacy and adoption reimbursement programs for employers
- Selective network of credentialed fertility specialists
Is PGNY a Good Stock to Buy?
UQS Score rates PGNY as Good overall, reflecting a balanced but developing profile across its five pillars.
The Risk pillar stands out as the clearest positive, suggesting Progyny carries a relatively manageable risk profile compared to many small-cap healthcare peers. The Valuation pillar is rated Attractive, meaning the stock does not appear richly priced relative to its fundamentals — a notable characteristic in the specialty benefits space.
Quality, Moat, and Growth are each rated Neutral, indicating Progyny has not yet demonstrated the durable competitive advantages or consistent financial outperformance that would push it into higher-conviction territory.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does PGNY pay dividends?
No — Progyny, Inc. does not currently pay a dividend.
Progyny does not currently pay a dividend. As a growth-oriented benefits platform still scaling its employer client base, the company reinvests available resources into expanding its network, member services, and product offerings rather than returning cash to shareholders through distributions.
When does PGNY report earnings?
Progyny reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
Progyny's quarterly results tend to reflect trends in employer benefit adoption and member utilization rates. Investors typically watch for changes in covered lives, client retention, and Progyny Rx attach rates as indicators of business momentum.
For the most recent quarter's results and guidance, visit Progyny's official investor relations page.
PGNY Price History
-71.9% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Progyny, Inc.?
Based on Progyny, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
PGNY Long-term Outlook
With Growth and Quality both rated Neutral, Progyny's near-term trajectory appears measured rather than accelerating. The Attractive Valuation label suggests the market may not be pricing in a strong recovery scenario, which could represent opportunity if the company demonstrates improved client expansion. The Good Risk rating provides some reassurance that downside scenarios are relatively contained, though Neutral Moat signals the company still faces meaningful competitive pressure in the employer benefits market.
Growth drivers
- Expansion of employer client base among mid-to-large self-insured companies
- Increased adoption of Progyny Rx alongside core fertility benefits
- Growing employer awareness of fertility benefits as a talent retention tool
Key risks
- Competitive pressure from broader health insurers entering the fertility benefits space
- Client concentration risk if large employer accounts reduce or exit coverage
- Valuation re-rating risk if growth metrics disappoint over consecutive quarters
PGNY vs Peers
Progyny operates in a niche corner of healthcare benefits, but investors often compare it to other tech-enabled or specialty healthcare service companies.
Omnicell focuses on pharmacy automation and medication management for health systems, operating in a different segment of the healthcare supply chain than Progyny's employer-facing benefits model.
GeneDx specializes in genomic and genetic testing services, making it a diagnostics-oriented business rather than a benefits management platform.
Teladoc delivers broad virtual care services to employers and health plans, competing for employer benefits budgets but across a much wider range of clinical use cases than Progyny's fertility focus.
Frequently Asked Questions
What does Progyny do?
Progyny is a benefits management company that helps U.S. employers offer fertility and family building benefits to their employees. Its services include a curated fertility specialist network, concierge member support, an integrated pharmacy benefits solution, and surrogacy and adoption reimbursement programs.
Does PGNY pay dividends?
No, Progyny does not currently pay a dividend. The company is focused on scaling its employer client base and reinvesting in its platform rather than distributing cash to shareholders.
When does PGNY report earnings?
Progyny follows a standard quarterly earnings cadence for US-listed companies. For exact dates and the most recent results, check Progyny's investor relations page directly.
Is PGNY a good stock to buy?
UQS Score rates PGNY as Good overall. The Risk pillar is rated Good and Valuation is Attractive, while Quality, Moat, and Growth are each Neutral. Whether that profile suits your portfolio depends on your investment goals. The full pillar breakdown is available to UQS Pro members.
Is PGNY overvalued?
Based on the UQS framework, PGNY's Valuation pillar is rated Attractive, suggesting the stock is not considered expensive relative to its fundamentals. This stands out positively among small-cap healthcare names. View the complete valuation analysis with a Pro membership.
How does PGNY compare to its competitors?
Progyny occupies a narrow niche in employer fertility benefits, which differentiates it from broader healthcare service companies like Teladoc or diagnostics firms like GeneDx. Its focused model is both a potential advantage and a concentration risk compared to more diversified peers.
What is PGNY's market cap bracket?
Progyny is classified as a small-cap company. Small-cap stocks can offer growth potential but typically carry higher volatility and liquidity risk compared to large-cap or mega-cap peers in the healthcare sector.
Who founded Progyny?
Progyny was originally incorporated in 2008 under the name Auxogyn, Inc. and rebranded to Progyny in 2015. Founding details are widely available through public filings and the company's official investor relations materials.
Is PGNY a long-term quality indicator?
As a long-term quality indicator, PGNY's UQS profile shows a Neutral Moat and Neutral Quality rating, meaning the company has not yet demonstrated the durable competitive advantages typically associated with high-conviction long-term holdings. The Good Risk and Attractive Valuation ratings offer some balance to that picture.
What is the main competitive advantage of Progyny?
Progyny's differentiation lies in its specialized focus on fertility benefits, combining a selective specialist network with concierge member support and integrated pharmacy services. However, the UQS Moat pillar is currently rated Neutral, suggesting this advantage is not yet considered strongly entrenched relative to the broader market.
What sector does PGNY belong to?
Progyny operates in the Healthcare sector, specifically within the benefits management and specialty health services segment. Investors can explore other [healthcare sector stocks](/sector/healthcare) rated by UQS Score for broader context.
Is PGNY a growth stock or value stock?
PGNY sits in an interesting middle ground. Its Growth pillar is rated Neutral, meaning it does not currently exhibit the rapid expansion typical of high-growth names. Its Valuation pillar is rated Attractive, giving it some value characteristics. It does not fit cleanly into either category at this time.
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Pro Analysis
PGNY — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 3, 2026 | 60.2 | 54.8 | 43.0 | 57.4 | 79.8 | 82.2 | -0.1 |
| Apr 19, 2026 | 60.3 | 54.8 | 43.0 | 57.4 | 79.8 | 82.8 | -0.3 |
| Apr 18, 2026 | 60.6 | 54.8 | 43.0 | 57.4 | 79.8 | 84.6 | -1.2 |
| Apr 14, 2026 | 61.8 | 54.8 | 43.0 | 57.4 | 79.8 | 92.8 | -0.2 |
| Apr 12, 2026 | 62.0 | 54.8 | 43.0 | 57.4 | 79.8 | 93.9 | +0.1 |
| Apr 5, 2026 | 61.9 | 54.8 | 43.0 | 57.4 | 79.8 | 93.3 | +0.1 |
| Apr 2, 2026 | 61.8 | 54.8 | 43.0 | 57.4 | 79.8 | 92.9 | — |
PGNY — Pillar Breakdown
Quality
— 59.5/100 (25%)Progyny, Inc. shows solid profitability with healthy returns on capital and reasonable margins.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 57.2/100 (20%)Progyny, Inc. demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 74.2/100 (15%)Progyny, Inc. maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 71.7/100 (15%)Progyny, Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 43/100 (25%)Progyny, Inc. possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for PGNY.
Score Composition
Financial Data
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How is the PGNY UQS Score Calculated?
The UQS (Unified Quality Score) for Progyny, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Progyny, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Progyny, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.