Progyny, Inc (PGNY) Fair Value & Analysis
Healthcare · US · Market cap $2.5B
Progyny, Inc
PGNY · US
Fair value as of: Jul 18, 2026
From 24 valuation models · updated 24 days ago
Share price −9.1% over the past month.
A solid business, but screening 41% overvalued on our models.
What matters now
- A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case ($20.54). The favourable scenario is already priced in.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range $13.67 – $66.66 · fair‑value band $12.33 – $20.54 · the $27.85 price screens above the $16.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Progyny, Inc (PGNY) currently trades at $27.85, while our model-based Fair Value estimate is $16.44, implying the stock looks roughly 41.0% overvalued today. The Quality Score stands at 73/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Progyny, Inc generated revenue of $1.3B at a net margin of 5.2%. Revenue grew 1.4% year over year. It earns a return on equity of 14.9%. The balance sheet holds a net cash position of $88.2M. Fundamentals as of Jul 18, 2026
Our scenario range runs from $12.33 (bear case) to $20.54 (bull case); at $27.85, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 3% below its 52-week high and 73% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 16% fair-value upside, at -41%, PGNY screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: DCF Models ($40.00) versus Asset-Based ($4.41). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 74 · Market factors (momentum, volatility) 61
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Progyny, Inc., a benefits management company, provides fertility, family building, and women's health benefits solutions in the United States.
Full company description
Progyny, Inc., a benefits management company, provides fertility, family building, and women's health benefits solutions in the United States. It offers fertility benefits solutions, such as differentiated benefits plan design that includes smart cycle treatment bundle; personalized concierge-style member support services; and a selective network of fertility specialists. The company also offers Progyny Rx, an integrated pharmacy benefits solution that provides access to the medications needed during their treatment and offers care management services, as well as pregnancy and postpartum, menopause and midlife, benefit and leave navigation, and parent and child wellbeing solutions. In addition, it provides assistance service program where various services can be offered through a reimbursement program, including adoption, surrogacy, doula, and travel reimbursement when travel is required to receive medical services. The company was formerly known as Auxogyn, Inc. and changed its name to Progyny, Inc. in 2015. Progyny, Inc. was incorporated in 2008 and is headquartered in New York, New York.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Progyny, Inc reported revenue of $1.3B in FY2025 versus $501M in FY2021, a compound +26.7%/yr. Reported net income was $58.5M in FY2025, compounding −2.9%/yr from FY2021.
PGNY screens 41% overvalued. Compare with UnitedHealth Group →
Peer Group
Healthcare Plans · 15 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Healthcare Plans median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Healthcare Plans stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| UnitedHealth Group UNH | $423.38 | $292.06 | -31% |
| CVS Health Corporation CVS | $104.15 | $42.54 | -59% |
| Elevance Health, Inc ELV | $372.85 | $431.40 | +16% |
| The Cigna Group CI | $304.50 | $495.42 | +63% |
| Humana Inc HUM | $400.00 | $127.61 | -68% |
| Centene Corporation CNC | $66.61 | $111.96 | +68% |
| Molina Healthcare, Inc MOH | $233.31 | $199.31 | -15% |
| Oscar Health, Inc OSCR | $29.10 | $58.20 | +100% |
| Alignment Healthcare, Inc ALHC | $20.60 | $2.37 | -88% |
| Bradsaúde S.A SAUD3 | R$15.35 | R$20.75 | +35% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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