Elevance Health, Inc. (ELV) vs Progyny, Inc. (PGNY)

Elevance Health, Inc. and Progyny, Inc. are both Healthcare Plans companies. Elevance Health, Inc. is the larger, with a market value of $92.9B against $2.1B — 44.0× the size. Elevance Health, Inc. trades at the lower P/E: 19.0× against 27.7×. Elevance Health, Inc. grew revenue faster over the last twelve months: 6.29% against 5.54%. Progyny, Inc. has the higher net margin (6.00% vs 2.47%) and the higher return on invested capital (32.4% vs 11.8%). Across the 22 metrics below, Progyny, Inc. leads on 15 and Elevance Health, Inc. on 7.

Valuation

Metric ELV PGNY Healthcare Plans median
P/E 19.03 27.69 24.97
P/S 0.46 1.60 0.42
P/B 2.06 4.63 2.57
Price to free cash flow 14.78 11.77 11.77
EV/EBITDA 9.81 15.84 11.47
EV/Sales 0.43 1.42 0.39
Earnings yield 5.25% 3.61% 3.10%
Free cash flow yield 6.77% 8.50% 7.64%

Profitability

Metric ELV PGNY Healthcare Plans median
Gross margin 15.12% 24.57% 19.37%
Operating margin 3.63% 8.55% 1.93%
Net margin 2.47% 6.00% 1.04%
Free cash flow margin 3.13% 13.61% 3.18%
Return on equity 11.17% 16.24% 8.99%
Return on assets 4.00% 10.65% 2.98%
Return on invested capital 11.83% 32.40% 2.04%

Growth

Metric ELV PGNY Healthcare Plans median
Revenue growth (TTM) 6.29% 5.54% 7.57%
EPS growth (last fiscal year) (1.83%) 14.04% (8.27%)
Revenue growth, 5-year CAGR 10.32% 30.17% 11.88%
Net income growth, 5-year CAGR 4.37% 4.72% 0.00%

Health

Metric ELV PGNY Healthcare Plans median
Debt to equity 0.69 0.00 0.70
Current ratio 1.52 2.14 1.32
Net debt to EBITDA (0.44) (3.44) 0.05

Dividend

Metric ELV PGNY Healthcare Plans median
Dividend yield 1.60% — 2.05%
Payout ratio 0.31 — 0.33

Size

Metric ELV PGNY Healthcare Plans median
Market cap 92.91b 2.11b 22.96b

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