Is Progyny, Inc. overvalued or undervalued?

As of 13 June 2025, Progyny, Inc. has moved from an expensive to a very expensive valuation grade. The company is currently considered overvalued based on its financial metrics. Notable ratios include a P/E ratio of 35, an EV to EBITDA of 20.94, and a Price to Book Value of 3.98, which significantly exceed industry averages.
In comparison to its peers, Grand Canyon Education, Inc. has a P/E of 31.27 and an EV to EBITDA of 21.81, while MAXIMUS, Inc. shows a much lower P/E of 12.96 and an EV to EBITDA of 7.99, highlighting the premium at which Progyny is trading. Furthermore, the company's recent stock performance has been underwhelming, with a 1-year return of -19.61%, contrasting sharply with the S&P 500's gain of 10.26% over the same period, reinforcing the notion that Progyny is overvalued.