Discounted Cash Flow

Progyny, Inc.

PGNY · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2017 $48.6m $-12.5m $-10.1m -25.6% $-2.37
2018 $105.4m (116.9%) $661.0k (105.3%) $1.7m (116.8%) 0.6% (102.4%) $0.12 (105.0%)
2019 $229.7m (117.9%) $-8.6m (-1396.4%) $-4.5m (-365.2%) -3.7% (-694.9%) $-0.41 (-446.3%)
2020 $344.9m (50.1%) $46.5m (642.2%) $35.2m (883.2%) 13.5% (461.1%) $0.54 (231.1%)
2021 $500.6m (45.2%) $65.8m (41.6%) $23.9m (-32.0%) 13.1% (-2.5%) $0.74 (36.2%)
2022 $786.9m (57.2%) $30.4m (-53.8%) $77.2m (222.7%) 3.9% (-70.6%) $0.33 (-55.4%)
2023 $1.1b (38.3%) $62.0m (104.4%) $185.2m (140.0%) 5.7% (47.7%) $0.65 (98.3%)
2024 $1.2b (7.2%) $54.3m (-12.4%) $173.7m (-6.2%) 4.7% (-18.3%) $0.59 (-9.0%)
2025 $1.3b (10.4%) $58.5m (7.7%) $191.8m (10.4%) 4.5% (-2.4%) $0.68 (15.0%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model