Progyny Inc. (PGNY) exhibits 23.6% gross margins and 16.7% return on invested capital within Health Care (Misc Health and Biotechnology Services), balanced against a 20.5x enterprise multiple and 4.8% implied options volatility.
Sustained 23.6% gross profitability converts into 6.6% operating margin and 16.7% ROIC, outpacing sector cost of capital.
ROIC: 16.7% // GM: 23.6%YoY revenue trajectory of +10.4% paired with 8.80% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +10.4% // FCF YLD: 8.80%Altman Z-Score of 8.84 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.
ALTMAN Z: 8.84 // F-SCORE: 7/9Trading at 37.2x trailing P/E (34.6x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 37.2x // EV/EBITDA: 20.5xOptions market prices a ±5.2% implied move with a 0.85 put/call ratio around $28.40 max pain.
IMPL MOVE: ±5.2% // P/C: 0.85Elevated industry capital intensity and customer concentration in Misc Health and Biotechnology Services require continuous execution to defend 4.5% net margins.
NET MARGIN: 4.5% // D/E: 0.45x| FILER | SIDE | $ VALUE |
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| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
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