Molina Healthcare, Inc (MOH) vs Progyny, Inc. (PGNY)

Molina Healthcare, Inc and Progyny, Inc. are both Healthcare Plans companies. Molina Healthcare, Inc is the larger, with a market value of $10.1B against $2.0B — 5.1× the size. Molina Healthcare, Inc has negative trailing earnings, so its P/E is not meaningful; Progyny, Inc. trades at 26.2×. Progyny, Inc. grew revenue faster over the last twelve months: 5.54% against 2.55%. Progyny, Inc. has the higher net margin (6.00% vs −0.02%) and the higher return on invested capital (32.4% vs 0.00%). Across the 21 metrics below, Progyny, Inc. leads on 16 and Molina Healthcare, Inc on 5.

Valuation

Metric MOH PGNY Healthcare Plans median
P/E n/m 26.23 23.75
P/S 0.22 1.52 0.40
P/B 2.34 4.39 2.48
Price to free cash flow 35.99 11.15 11.15
EV/EBITDA 12.98 15.03 10.94
EV/Sales 0.11 1.35 0.37
Earnings yield (0.09%) 3.81% 3.25%
Free cash flow yield 2.78% 8.97% 8.15%

Profitability

Metric MOH PGNY Healthcare Plans median
Gross margin 12.65% 24.57% 19.04%
Operating margin 0.46% 8.55% 1.93%
Net margin (0.02%) 6.00% 1.04%
Free cash flow margin 0.61% 13.61% 3.18%
Return on equity (0.16%) 16.24% 12.48%
Return on assets (0.04%) 10.65% 2.98%
Return on invested capital 0.00% 32.40% 2.04%

Growth

Metric MOH PGNY Healthcare Plans median
Revenue growth (TTM) 2.55% 5.54% 7.57%
EPS growth (last fiscal year) (56.32%) 14.04% —
Revenue growth, 5-year CAGR 18.52% 30.17% 11.88%
Net income growth, 5-year CAGR (6.85%) 4.72% 0.00%

Health

Metric MOH PGNY Healthcare Plans median
Debt to equity 0.95 0.00 0.70
Current ratio 1.68 2.14 1.32
Net debt to EBITDA (4.41) (3.44) 0.05

Dividend

Metric MOH PGNY Healthcare Plans median
Dividend yield — — 1.53%
Payout ratio 0.00 0.00 0.00

Size

Metric MOH PGNY Healthcare Plans median
Market cap 10.09b 1.99b 20.34b

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