Stock fact sheet · data as of
Progyny, Inc. (PGNY): fair value, margin of safety and Wheel Score
Healthcare · Medical - Healthcare Plans · United States · High Growth
Is PGNY undervalued?
Progyny, Inc. (PGNY) closed at 27.84 on 16 Oct 2026. The GLS average fair value - the simple average of the 8 valuation models that produced a positive number - is 39.08, so the price sits 29% below it. 4 of the 8 models value the shares above the current price. A margin of safety between 10% and 30% is where most of the Sunday Scan candidates come from.
The 8 models disagree widely: Lynch gives 10.89 while Payback Time gives 99.59. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files PGNY under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for PGNY
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 19.70 | -29% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 11.46 | -59% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 29.66 | +7% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 10.89 | -61% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 61.59 | +121% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 68.56 | +146% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 99.59 | +258% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 11.18 | -60% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 4.24 | -85% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 35.50 | +28% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - PGNY passes 6 of the nine Piotroski tests, which passes the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 7.4 out of 10: a ten-year record that is consistent in some of the metrics the score tracks (revenue, earnings, margins, cash flow, returns on capital) and patchy in others.
Returns on capital are moderate - ROIC 10.8%, ROE 11.3%, ROA 7.9% - with debt at 0.05 times equity and a free-cash-flow yield of 10.2%.
Progyny, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Fertility benefit services revenue 66%, Pharmacy benefit services revenue 34% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 4/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 10 Sep 2026.
| Piotroski F-score | 6 / 9 | ROIC | 10.8% |
|---|---|---|---|
| GLS Moat | 7.4 / 10 | ROE | 11.3% |
| Debt / equity | 0.05 | ROA | 7.9% |
| Free-cash-flow yield | 10.2% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 4 · 5 / 10 |
Wheel Score 83: Prime
PGNY scores 83 out of 100 on the Wheel Score, in the Prime band (80 and above), which fewer than one stock in twenty reaches on any night. The score blends five things a wheel trader checks before selling a cash-secured put: the margin of safety (Value, 24/25), Piotroski health (13/20), the GLS moat (11/15), the option premium on offer (20/20) and how easily the stock trades (15/20).
Implied volatility is 61% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (20 of 20) because volatility this high usually comes with a reason. Chain open interest is 5,942 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 774k shares a day on a market cap of $2.1B, with a beta of 1.02; the Stability part of the Wheel Score gives that 15 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 24 / 25 | 29% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 11 / 15 | moat 7.4/10 | |
| Premium | 20 / 20 | implied volatility 61% | |
| Stability | 15 / 20 | 774k shares/day, $2.1B cap, beta 1.02 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 5 Nov 2026 (after the close), 20 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Medical - Healthcare Plans
The 12 companies below are the closest to Progyny, Inc. by market cap within the Medical - Healthcare Plans industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| CLOV Clover Health Investments, Corp. | 4.68 | 2.86 | -63% | 40Weak | $2.5B |
| ALHC Alignment Healthcare, Inc. | 8.15 | 10.28 | +21% | 70Good | $1.7B |
| OSCR Oscar Health, Inc. | 33.47 | 100.82 | +67% | 75Good | $8.7B |
| MOH Molina Healthcare, Inc. | 212.50 | 398.47 | +47% | 45Weak | $11.1B |
| CNC Centene Corp. | 70.51 | 237.84 | +70% | 45Weak | $34.8B |
| HUM Humana Inc. | 432.20 | 240.89 | -79% | 59Fair | $51.9B |
| MRAI Marpai, Inc. | 3.19 | - | - | 20No options | $86M |
| CI Cigna Corporation | 298.81 | 611.26 | +51% | 90Prime | $79.0B |
| ELV Elevance Health Inc. | 428.43 | 452.33 | +5% | 81Prime | $92.9B |
| CVS CVS Health Corp. | 92.58 | 112.66 | +18% | 80Prime | $118.4B |
| UNH UnitedHealth Group Incorporated | 395.62 | 308.02 | -28% | 64Fair | $355.1B |
| PFHO Pacific Health Care Organization, Inc. | 0.9400 | 2.03 | +54% | 39No options | $12M |
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the same eight-rule screen, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about PGNY
Is PGNY undervalued right now?
By the GLS models, moderately: at 27.84 the stock trades 29% below the average fair value of 39.08 (data as of 16 Oct 2026).
What is the Wheel Score of PGNY and what does it mean?
PGNY scores 83 out of 100 (Prime). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for PGNY?
39.08 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Progyny, Inc. report earnings next?
The next earnings report is due on 5 Nov 2026 (after the close), 20 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does PGNY have listed options, and how liquid are they?
Yes. The nightly snapshot found 90 listed contracts with 5,942 open interest across all expiries and implied volatility of 61% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.