Pegasystems Inc. (PEGA) 10-Year Financial Performance & Capital Metrics

PEGA •

TechnologyApplication SoftwareCRM and customer engagement software

AboutPegasystems Inc. develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation. The company also offers customer engagement applications, including Pega Customer Decision Hub that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Sales Automation to automate and manage the sales process; and Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity. In addition, it provides intelligent automation software; Pega Cloud that allows clients to develop, test, and deploy applications and the Pega Platform using an Internet-based infrastructure; Pega Academy, which offers instructor-led and online training to its employees, clients, and partners; and guidance, implementation, and technical support services. The company primarily markets its software and services to financial services, life sciences, healthcare, communications and media, government, insurance, manufacturing and high tech, and consumer services markets through a direct sales force, as well as partnerships with technology providers and application developers. Pegasystems Inc. was incorporated in 1983 and is headquartered in Cambridge, Massachusetts.Show more

Revenue $1.75B +16.6%
EBITDA $263M +65.2%
Net Income $393M +296.7%
EPS (Diluted) 2.13 +287.3%
Gross Margin 75.86% +2.6%
EBITDA Margin 15.07% +41.6%
Operating Margin 15.07% +82.1%
Net Margin 22.54% +240.2%
ROE 57.32% +171.4%
ROIC 27.52% +122.7%
Debt/Equity 0.08 -91.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 35.5%
✓Strong Piotroski F-Score: 8/9
✓FCF machine: 28.9% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 11.4%

✗Weaknesses

✗Weak momentum: RS Rating 19 (bottom 19%)
✗Thin 5Y average net margin of 0.5%
✗Trading more than 30% below 52-week high
✗Expensive at 10.3x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.84%

5Y11.4%

3Y9.83%

TTM17%

Profit (Net Income) CAGR

10Y26.9%

5Y-

3Y-

TTM126.41%

EPS CAGR

10Y24.93%

5Y-

3Y-

TTM127.17%

ROCE

10Y Avg3.49%

5Y Avg7.64%

3Y Avg19.32%

Latest33.38%

Peer Comparison

CRM and customer engagement software

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HUBSHubSpot, Inc.	13.81B	264.51	307.57	19.17%	-0.12%	-0.19%	5.12%	0.13
CRMSalesforce, Inc.	187.39B	194.79	24.97	9.58%	17.96%	12.61%	7.69%	0.11
PEGAPegasystems Inc.	7.46B	43.73	20.53	16.61%	16.05%	46.57%	6.77%	0.08
CXMSprinklr, Inc.	1.43B	5.82	13.23	8.74%	13.42%	20.18%	5.02%	0.08
IFBDInfobird Co., Ltd	5.19M	0.95	-0.91	413.52%	-32.73%	-2.46%		0.01
HTCRHeartCore Enterprises, Inc.	6.26M	0.27	-3.80	39.19%	-73.2%	-282.58%		1.09
BRZEBraze, Inc.	188.91M	18.99	-18.62	25.78%	-16.83%	-19.37%	12.41%	0.18
FRSHFreshworks Inc.	2.37B	7.82	-24.44	20.79%	21.9%	17.79%	6.15%	0.03

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	750.27M	840.58M	891.58M	911.38M	1.02B	1.21B	1.32B	1.43B	1.5B	1.75B
Revenue Growth %	9.9%	12.04%	6.07%	2.22%	11.65%	19.08%	8.76%	8.71%	4.51%	16.61%
Cost of Goods Sold+	239.26M	279.67M	301.76M	310.02M	310.91M	336.36M	368.63M	378.48M	390.67M	421.38M
COGS % of Revenue	31.89%	33.27%	33.85%	34.02%	30.56%	27.76%	27.97%	26.42%	26.09%	24.14%
Gross Profit+	522.97M	608.79M	589.82M	601.36M	706.6M	875.29M	949.21M	1.05B	1.11B	1.32B
Gross Margin %	69.7%	72.43%	66.15%	65.98%	69.44%	72.24%	72.03%	73.58%	73.91%	75.86%
Gross Profit Growth %	11.45%	16.41%	-3.12%	1.96%	17.5%	23.87%	8.45%	11.05%	4.97%	19.69%
Operating Expenses+	472.33M	515.62M	606.85M	736.24M	850.13M	970.02M	1.06B	973.18M	982.63M	1.04B
OpEx % of Revenue	62.95%	61.34%	68.06%	80.78%	83.55%	80.06%	80.33%	67.93%	65.63%	59.57%
Selling, General & Admin	323.88M	352.73M	425.14M	531.03M	613.14M	709.39M	742.52M	655.92M	647.63M	727.36M
SG&A % of Revenue	43.17%	41.96%	47.68%	58.27%	60.26%	58.55%	56.34%	45.78%	43.26%	41.66%
Research & Development	145.55M	162.89M	181.71M	205.21M	236.99M	260.63M	294.35M	295.51M	298.07M	312.68M
R&D % of Revenue	19.4%	19.38%	20.38%	22.52%	23.29%	21.51%	22.34%	20.63%	19.91%	17.91%
Other Operating Expenses	2.9M	0	0	0	0	0	21.74M	21.75M	36.93M	0
Operating Income+	50.64M	93.18M	-17.03M	-134.88M	-143.53M	-94.73M	-109.41M	80.95M	123.88M	263.1M
Operating Margin %	6.75%	11.08%	-1.91%	-14.8%	-14.11%	-7.82%	-8.3%	5.65%	8.27%	15.07%
Operating Income Growth %	-21.68%	83.98%	-118.28%	-691.91%	-6.41%	34%	-15.49%	173.99%	53.03%	112.38%
EBITDA+	74.78M	117.89M	8.26M	-113.48M	-122.18M	-66.14M	-74.69M	115.61M	159.31M	263.1M
EBITDA Margin %	9.97%	14.02%	0.93%	-12.45%	-12.01%	-5.46%	-5.67%	8.07%	10.64%	15.07%
EBITDA Growth %	-14.78%	57.65%	-92.99%	-1473.38%	-7.66%	45.87%	-12.92%	254.8%	37.8%	65.15%
D&A (Non-Cash Add-back)	24.14M	24.71M	25.3M	21.4M	21.35M	28.59M	34.72M	34.66M	35.43M	0
EBIT	53.55M	93.18M	-11.53M	-134.63M	-105.53M	-124.03M	-154M	102.32M	149.47M	0
Net Interest Income+	911K	862K	2.71M	1.81M	-18.13M	-7.25M	-6.15M	2.38M	18.94M	0
Interest Income	911K	862K	2.71M	1.81M	1.22M	704K	1.64M	9.26M	25.78M	13.64M
Interest Expense	0	0	0	0	19.36M	7.96M	7.79M	6.88M	6.83M	-1.28M
Other Income/Expense	-2.56M	-6.94M	5.49M	32K	18.64M	-37.26M	-52.39M	14.49M	18.75M	17.53M
Pretax Income+	35.2M	37.1M	-11.54M	-134.85M	-124.89M	-131.99M	-161.8M	95.44M	142.64M	280.63M
Pretax Margin %	4.69%	4.41%	-1.29%	-14.8%	-12.27%	-10.89%	-12.28%	6.66%	9.53%	16.07%
Income Tax+	8.22M	4.17M	-22.16M	-44.41M	-63.52M	-68.95M	183.78M	27.63M	43.45M	-112.81M
Effective Tax Rate %	76.66%	88.77%	-91.98%	67.06%	49.14%	47.76%	213.59%	71.05%	69.54%	140.2%
Net Income+	26.99M	32.93M	10.62M	-90.43M	-61.37M	-63.04M	-345.58M	67.81M	99.19M	393.44M
Net Margin %	3.6%	3.92%	1.19%	-9.92%	-6.03%	-5.2%	-26.22%	4.73%	6.63%	22.54%
Net Income Growth %	-25.7%	22.04%	-67.76%	-951.78%	32.13%	-2.72%	-448.19%	119.62%	46.28%	296.65%
Net Income (Continuing)	26.99M	98.55M	10.62M	-90.43M	-61.37M	-63.04M	-345.58M	67.81M	99.19M	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.17	0.59	0.06	-0.57	-0.38	-0.39	-2.11	0.40	0.55	2.13
EPS Growth %	-26.09%	249.94%	-89.26%	-992.02%	33.33%	-2.63%	-441.03%	118.96%	37.5%	287.27%
EPS (Basic)	0.18	0.64	0.07	-0.57	-0.38	-0.39	-2.11	0.41	0.58	2.30
Diluted Shares Outstanding	159.46M	165.66M	166.13M	158.11M	160.67M	162.77M	163.89M	169.83M	179.27M	184.79M
Basic Shares Outstanding	152.69M	154.86M	157.13M	158.11M	160.67M	162.77M	163.89M	166.32M	170.53M	170.78M
Dividend Payout Ratio	34%	28.17%	88.84%	-	-	-	-	14.69%	10.28%	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	398.79M	472.08M	610.63M	505.61M	976.91M	840.22M	846.48M	1.03B	1.33B	978.29M
Cash & Short-Term Investments	133.76M	223.75M	207.42M	68.36M	465.17M	362.78M	297.22M	423.34M	739.97M	425.8M
Cash Only	70.59M	162.28M	114.42M	68.36M	171.9M	159.97M	145.05M	229.9M	337.1M	212.45M
Short-Term Investments	63.17M	61.47M	93M	0	293.27M	202.81M	152.17M	193.44M	402.87M	213.35M
Accounts Receivable	279.18M	382.82M	353.53M	379.94M	438.28M	421.96M	511.77M	562.47M	552.9M	533.74M
Days Sales Outstanding	135.82	166.23	144.73	152.16	157.22	127.11	141.74	143.31	134.79	111.59
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	12.19M	41.13M	49.68M	57.31M	73.46M	55.48M	37.49M	9.57M	2.68M	18.76M
Total Non-Current Assets+	255.87M	249.53M	371.92M	479.2M	627.35M	753.31M	511.19M	481.71M	434.57M	653.55M
Property, Plant & Equipment	38.28M	40.36M	36.63M	34.28M	108.05M	114.36M	131.17M	111.48M	104.23M	0
Fixed Asset Turnover	19.60x	20.83x	24.34x	26.58x	9.42x	10.60x	10.05x	12.85x	14.36x	-
Goodwill	73.16M	72.95M	72.86M	79.04M	79.23M	81.92M	81.4M	81.61M	81.11M	81.51M
Intangible Assets	44.19M	31.9M	21.23M	19.72M	15.75M	14.06M	10.89M	7M	3.83M	0
Long-Term Investments	0	0	0	0	0	0	13.07M	19.45M	21.23M	0
Other Non-Current Assets	3.99M	162.71M	241.19M	346.16M	336.26M	362.31M	269.87M	258.49M	219.89M	572.04M
Total Assets+	654.66M	721.61M	982.55M	984.81M	1.6B	1.59B	1.36B	1.51B	1.77B	1.63B
Asset Turnover	1.15x	1.16x	0.91x	0.93x	0.63x	0.76x	0.97x	0.95x	0.85x	1.07x
Asset Growth %	4.28%	10.23%	36.16%	0.23%	62.9%	-0.67%	-14.8%	11.27%	17.05%	-7.72%
Total Current Liabilities+	284.05M	313.21M	331.81M	377.95M	460.13M	485.4M	538.94M	577.06M	1.09B	737.78M
Accounts Payable	14.41M	17.37M	16.49M	17.48M	24.03M	15.28M	18.2M	11.29M	6.23M	12.92M
Days Payables Outstanding	21.99	22.67	19.94	20.57	28.21	16.58	18.02	10.89	5.82	11.19
Short-Term Debt	0	0	0	0	0	0	0	0	467.47M	0
Deferred Revenue (Current)	186.64M	201.66M	185.15M	190.08M	232.87M	275.84M	325.21M	377.85M	423.91M	509.27M
Other Current Liabilities	60.66M	66.04M	87.03M	122.4M	123.01M	120.95M	127.73M	134.95M	144.61M	228.5M
Current Ratio	1.40x	1.51x	1.84x	1.34x	2.12x	1.73x	1.57x	1.78x	1.23x	1.33x
Quick Ratio	1.40x	1.51x	1.84x	1.34x	2.12x	1.73x	1.57x	1.78x	1.23x	1.33x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	34.72M	37.32M	29.21M	67.85M	601.96M	692.04M	687.89M	579.84M	96.73M	106.69M
Long-Term Debt	0	0	0	0	518.2M	590.72M	593.61M	499.37M	0	60.83M
Capital Lease Obligations	0	0	0	52.61M	59.05M	87.82M	79.15M	66.9M	67.65M	0
Deferred Tax Liabilities	0	38.46M	6.94M	0	0	0	0	0	0	0
Other Non-Current Liabilities	20.31M	17.06M	22.27M	15.24M	15.71M	7.84M	11.58M	11.09M	26.97M	45.86M
Total Liabilities	318.77M	350.53M	361.02M	445.8M	1.06B	1.18B	1.23B	1.16B	1.18B	844.46M
Total Debt+	0	0	0	52.61M	595.8M	685.53M	687.74M	581.27M	549.67M	60.83M
Net Debt	-70.59M	-162.28M	-114.42M	-15.75M	423.9M	525.56M	542.68M	351.37M	212.56M	-151.62M
Debt / Equity	-	-	-	0.10x	1.10x	1.65x	5.26x	1.64x	0.94x	0.08x
Debt / EBITDA	-	-	-	-	-	-	-	5.03x	3.45x	0.23x
Net Debt / EBITDA	-0.94x	-1.38x	-13.85x	-	-	-	-	3.04x	1.33x	-0.58x
Interest Coverage	-	-	-	-	-7.42x	-11.91x	-14.04x	11.77x	18.12x	-
Total Equity+	335.89M	371.08M	621.53M	539.01M	542.17M	416.09M	130.84M	353.84M	585.48M	787.38M
Equity Growth %	4.04%	10.48%	67.49%	-13.28%	0.59%	-23.26%	-68.55%	170.43%	65.47%	34.48%
Book Value per Share	2.11	2.24	3.74	3.41	3.37	2.56	0.80	2.08	3.27	4.26
Total Shareholders' Equity	335.89M	371.08M	621.53M	539.01M	542.17M	416.09M	130.84M	353.84M	585.48M	787.38M
Common Stock	766K	781K	785K	796K	809K	817K	824K	838K	861K	1.7M
Retained Earnings	198.31M	221.93M	510.86M	410.92M	339.88M	276.45M	-76.51M	-8.71M	87.9M	463.39M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-7.09M	-3.73M	-13.32M	-13.23M	-2.95M	-6.99M	-23.07M	-17.88M	-30.25M	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	39.87M	158.24M	104.36M	-42.16M	-563K	39.12M	22.34M	217.78M	345.93M	505.23M
Operating CF Margin %	5.31%	18.82%	11.7%	-4.63%	-0.06%	3.23%	1.69%	15.2%	23.11%	28.94%
Operating CF Growth %	-36.23%	296.84%	-34.05%	-140.41%	98.66%	7048.14%	-42.9%	875.04%	58.84%	46.05%
Net Income	26.99M	32.93M	10.62M	-90.43M	-61.37M	-63.04M	-345.58M	67.81M	99.19M	393.44M
Depreciation & Amortization	22.37M	39.41M	25.3M	21.4M	21.35M	28.59M	34.72M	18.75M	79.85M	82.27M
Stock-Based Compensation	40.82M	53.31M	63.86M	80.91M	103.07M	115.95M	122.21M	143.35M	142.72M	155.24M
Deferred Taxes	-5.81M	13.79M	-30.9M	-49.32M	-59.78M	-75.34M	168.89M	363K	-1.54M	-170.81M
Other Non-Cash Items	142.53M	-13.79M	14.77M	46.26M	29.16M	92.49M	106.45M	65.52M	6.55M	45.09M
Working Capital Changes	-44.49M	32.58M	20.71M	-50.98M	-32.98M	-59.53M	-64.35M	-78.01M	19.16M	0
Change in Receivables	-56.73M	23.81M	25.78M	1.09M	-32.32M	-11.96M	-51.16M	-57.6M	79.03M	19.19M
Change in Inventory	-10.82M	0	0	0	-5.62M	0	0	-66K	0	0
Change in Payables	1.53M	14.47M	20.8M	0	37.95M	-18.73M	529K	66K	0	0
Cash from Investing+	-7.17M	-14.76M	-48.2M	70.07M	-321.68M	72.5M	13.07M	-50.75M	-202.58M	197.25M
Capital Expenditures	-19.09M	-13.74M	-11.89M	-10.61M	-25.37M	-10.46M	-35.38M	-16.78M	-7.71M	0
CapEx % of Revenue	2.54%	1.63%	1.33%	1.16%	2.49%	0.86%	2.68%	1.17%	0.52%	-
Acquisitions	-49.11M	-297K	-800K	-10.93M	296.31M	-4.99M	-922K	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	61.03M	-721K	-35.5M	0	-296.31M	0	0	0	0	-14.5M
Cash from Financing+	-51.72M	-54.23M	-101.46M	-74.26M	423.45M	-121.84M	-46.99M	-81.96M	-30.21M	-834.63M
Debt Issued (Net)	0	0	0	0	600M	0	0	-88.99M	-33.89M	0
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	0
Dividends Paid	-9.17M	-9.28M	-9.43M	-9.49M	-9.63M	-9.76M	-9.83M	-9.96M	-10.2M	-15.42M
Share Repurchases	-43.43M	-44.95M	-92.03M	-66.97M	-103.54M	-122.64M	-46.33M	-1.92M	-73.49M	-17.54M
Other Financing	0	0	0	2.2M	-63.39M	10.55M	9.17M	18.91M	87.37M	-819.21M
Net Change in Cash	-22.43M	91.69M	-47.86M	-46.06M	103.54M	-11.93M	-14.91M	87.77M	108.7M	-125.17M
Free Cash Flow+	20.79M	144.49M	92.46M	-52.77M	-25.93M	28.66M	-13.04M	201M	338.21M	505.23M
FCF Margin %	2.77%	17.19%	10.37%	-5.79%	-2.55%	2.37%	-0.99%	14.03%	22.59%	28.94%
FCF Growth %	-59.65%	595.15%	-36.01%	-157.07%	50.86%	210.53%	-145.51%	1641.09%	68.26%	49.38%
FCF per Share	0.13	0.87	0.56	-0.33	-0.16	0.18	-0.08	1.18	1.89	2.73
FCF Conversion (FCF/Net Income)	1.48x	4.80x	9.83x	0.47x	0.01x	-0.62x	-0.06x	3.21x	3.49x	1.28x
Interest Paid	0	0	0	0	2.34M	4.5M	4.5M	4.13M	3.81M	0
Taxes Paid	28.84M	2.32M	6.63M	4.75M	3.38M	0	7.64M	11.66M	82.32M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	8.19%	9.32%	2.14%	-15.58%	-11.35%	-13.16%	-126.37%	27.98%	21.12%	57.32%
Return on Invested Capital (ROIC)	15.34%	29.48%	-3.57%	-19.64%	-14.46%	-7.45%	-10.16%	8.81%	12.36%	27.52%
Gross Margin	69.7%	72.43%	66.15%	65.98%	69.44%	72.24%	72.03%	73.58%	73.91%	75.86%
Net Margin	3.6%	3.92%	1.19%	-9.92%	-6.03%	-5.2%	-26.22%	4.73%	6.63%	22.54%
Debt / Equity	-	-	-	0.10x	1.10x	1.65x	5.26x	1.64x	0.94x	0.08x
Interest Coverage	-	-	-	-	-7.42x	-11.91x	-14.04x	11.77x	18.12x	-
FCF Conversion	1.48x	4.80x	9.83x	0.47x	0.01x	-0.62x	-0.06x	3.21x	3.49x	1.28x
Revenue Growth	9.9%	12.04%	6.07%	2.22%	11.65%	19.08%	8.76%	8.71%	4.51%	16.61%

US Stock Screener

...

Pegasystems Inc. (PEGA) 10-Year Financial Performance & Capital Metrics

PEGA •

TechnologyApplication SoftwareCRM and customer engagement software

Revenue $1.75B +16.6%
EBITDA $263M +65.2%
Net Income $393M +296.7%
EPS (Diluted) 2.13 +287.3%
Gross Margin 75.86% +2.6%
EBITDA Margin 15.07% +41.6%
Operating Margin 15.07% +82.1%
Net Margin 22.54% +240.2%
ROE 57.32% +171.4%
ROIC 27.52% +122.7%
Debt/Equity 0.08 -91.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 35.5%
✓Strong Piotroski F-Score: 8/9
✓FCF machine: 28.9% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 11.4%

✗Weaknesses

✗Weak momentum: RS Rating 19 (bottom 19%)
✗Thin 5Y average net margin of 0.5%
✗Trading more than 30% below 52-week high
✗Expensive at 10.3x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.84%

5Y11.4%

3Y9.83%

TTM17%

Profit (Net Income) CAGR

10Y26.9%

5Y-

3Y-

TTM126.41%

EPS CAGR

10Y24.93%

5Y-

3Y-

TTM127.17%

ROCE

10Y Avg3.49%

5Y Avg7.64%

3Y Avg19.32%

Latest33.38%

Peer Comparison

CRM and customer engagement software

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HUBSHubSpot, Inc.	13.81B	264.51	307.57	19.17%	-0.12%	-0.19%	5.12%	0.13
CRMSalesforce, Inc.	187.39B	194.79	24.97	9.58%	17.96%	12.61%	7.69%	0.11
PEGAPegasystems Inc.	7.46B	43.73	20.53	16.61%	16.05%	46.57%	6.77%	0.08
CXMSprinklr, Inc.	1.43B	5.82	13.23	8.74%	13.42%	20.18%	5.02%	0.08
IFBDInfobird Co., Ltd	5.19M	0.95	-0.91	413.52%	-32.73%	-2.46%		0.01
HTCRHeartCore Enterprises, Inc.	6.26M	0.27	-3.80	39.19%	-73.2%	-282.58%		1.09
BRZEBraze, Inc.	188.91M	18.99	-18.62	25.78%	-16.83%	-19.37%	12.41%	0.18
FRSHFreshworks Inc.	2.37B	7.82	-24.44	20.79%	21.9%	17.79%	6.15%	0.03

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	750.27M	840.58M	891.58M	911.38M	1.02B	1.21B	1.32B	1.43B	1.5B	1.75B
Revenue Growth %	9.9%	12.04%	6.07%	2.22%	11.65%	19.08%	8.76%	8.71%	4.51%	16.61%
Cost of Goods Sold+	239.26M	279.67M	301.76M	310.02M	310.91M	336.36M	368.63M	378.48M	390.67M	421.38M
COGS % of Revenue	31.89%	33.27%	33.85%	34.02%	30.56%	27.76%	27.97%	26.42%	26.09%	24.14%
Gross Profit+	522.97M	608.79M	589.82M	601.36M	706.6M	875.29M	949.21M	1.05B	1.11B	1.32B
Gross Margin %	69.7%	72.43%	66.15%	65.98%	69.44%	72.24%	72.03%	73.58%	73.91%	75.86%
Gross Profit Growth %	11.45%	16.41%	-3.12%	1.96%	17.5%	23.87%	8.45%	11.05%	4.97%	19.69%
Operating Expenses+	472.33M	515.62M	606.85M	736.24M	850.13M	970.02M	1.06B	973.18M	982.63M	1.04B
OpEx % of Revenue	62.95%	61.34%	68.06%	80.78%	83.55%	80.06%	80.33%	67.93%	65.63%	59.57%
Selling, General & Admin	323.88M	352.73M	425.14M	531.03M	613.14M	709.39M	742.52M	655.92M	647.63M	727.36M
SG&A % of Revenue	43.17%	41.96%	47.68%	58.27%	60.26%	58.55%	56.34%	45.78%	43.26%	41.66%
Research & Development	145.55M	162.89M	181.71M	205.21M	236.99M	260.63M	294.35M	295.51M	298.07M	312.68M
R&D % of Revenue	19.4%	19.38%	20.38%	22.52%	23.29%	21.51%	22.34%	20.63%	19.91%	17.91%
Other Operating Expenses	2.9M	0	0	0	0	0	21.74M	21.75M	36.93M	0
Operating Income+	50.64M	93.18M	-17.03M	-134.88M	-143.53M	-94.73M	-109.41M	80.95M	123.88M	263.1M
Operating Margin %	6.75%	11.08%	-1.91%	-14.8%	-14.11%	-7.82%	-8.3%	5.65%	8.27%	15.07%
Operating Income Growth %	-21.68%	83.98%	-118.28%	-691.91%	-6.41%	34%	-15.49%	173.99%	53.03%	112.38%
EBITDA+	74.78M	117.89M	8.26M	-113.48M	-122.18M	-66.14M	-74.69M	115.61M	159.31M	263.1M
EBITDA Margin %	9.97%	14.02%	0.93%	-12.45%	-12.01%	-5.46%	-5.67%	8.07%	10.64%	15.07%
EBITDA Growth %	-14.78%	57.65%	-92.99%	-1473.38%	-7.66%	45.87%	-12.92%	254.8%	37.8%	65.15%
D&A (Non-Cash Add-back)	24.14M	24.71M	25.3M	21.4M	21.35M	28.59M	34.72M	34.66M	35.43M	0
EBIT	53.55M	93.18M	-11.53M	-134.63M	-105.53M	-124.03M	-154M	102.32M	149.47M	0
Net Interest Income+	911K	862K	2.71M	1.81M	-18.13M	-7.25M	-6.15M	2.38M	18.94M	0
Interest Income	911K	862K	2.71M	1.81M	1.22M	704K	1.64M	9.26M	25.78M	13.64M
Interest Expense	0	0	0	0	19.36M	7.96M	7.79M	6.88M	6.83M	-1.28M
Other Income/Expense	-2.56M	-6.94M	5.49M	32K	18.64M	-37.26M	-52.39M	14.49M	18.75M	17.53M
Pretax Income+	35.2M	37.1M	-11.54M	-134.85M	-124.89M	-131.99M	-161.8M	95.44M	142.64M	280.63M
Pretax Margin %	4.69%	4.41%	-1.29%	-14.8%	-12.27%	-10.89%	-12.28%	6.66%	9.53%	16.07%
Income Tax+	8.22M	4.17M	-22.16M	-44.41M	-63.52M	-68.95M	183.78M	27.63M	43.45M	-112.81M
Effective Tax Rate %	76.66%	88.77%	-91.98%	67.06%	49.14%	47.76%	213.59%	71.05%	69.54%	140.2%
Net Income+	26.99M	32.93M	10.62M	-90.43M	-61.37M	-63.04M	-345.58M	67.81M	99.19M	393.44M
Net Margin %	3.6%	3.92%	1.19%	-9.92%	-6.03%	-5.2%	-26.22%	4.73%	6.63%	22.54%
Net Income Growth %	-25.7%	22.04%	-67.76%	-951.78%	32.13%	-2.72%	-448.19%	119.62%	46.28%	296.65%
Net Income (Continuing)	26.99M	98.55M	10.62M	-90.43M	-61.37M	-63.04M	-345.58M	67.81M	99.19M	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.17	0.59	0.06	-0.57	-0.38	-0.39	-2.11	0.40	0.55	2.13
EPS Growth %	-26.09%	249.94%	-89.26%	-992.02%	33.33%	-2.63%	-441.03%	118.96%	37.5%	287.27%
EPS (Basic)	0.18	0.64	0.07	-0.57	-0.38	-0.39	-2.11	0.41	0.58	2.30
Diluted Shares Outstanding	159.46M	165.66M	166.13M	158.11M	160.67M	162.77M	163.89M	169.83M	179.27M	184.79M
Basic Shares Outstanding	152.69M	154.86M	157.13M	158.11M	160.67M	162.77M	163.89M	166.32M	170.53M	170.78M
Dividend Payout Ratio	34%	28.17%	88.84%	-	-	-	-	14.69%	10.28%	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	398.79M	472.08M	610.63M	505.61M	976.91M	840.22M	846.48M	1.03B	1.33B	978.29M
Cash & Short-Term Investments	133.76M	223.75M	207.42M	68.36M	465.17M	362.78M	297.22M	423.34M	739.97M	425.8M
Cash Only	70.59M	162.28M	114.42M	68.36M	171.9M	159.97M	145.05M	229.9M	337.1M	212.45M
Short-Term Investments	63.17M	61.47M	93M	0	293.27M	202.81M	152.17M	193.44M	402.87M	213.35M
Accounts Receivable	279.18M	382.82M	353.53M	379.94M	438.28M	421.96M	511.77M	562.47M	552.9M	533.74M
Days Sales Outstanding	135.82	166.23	144.73	152.16	157.22	127.11	141.74	143.31	134.79	111.59
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	12.19M	41.13M	49.68M	57.31M	73.46M	55.48M	37.49M	9.57M	2.68M	18.76M
Total Non-Current Assets+	255.87M	249.53M	371.92M	479.2M	627.35M	753.31M	511.19M	481.71M	434.57M	653.55M
Property, Plant & Equipment	38.28M	40.36M	36.63M	34.28M	108.05M	114.36M	131.17M	111.48M	104.23M	0
Fixed Asset Turnover	19.60x	20.83x	24.34x	26.58x	9.42x	10.60x	10.05x	12.85x	14.36x	-
Goodwill	73.16M	72.95M	72.86M	79.04M	79.23M	81.92M	81.4M	81.61M	81.11M	81.51M
Intangible Assets	44.19M	31.9M	21.23M	19.72M	15.75M	14.06M	10.89M	7M	3.83M	0
Long-Term Investments	0	0	0	0	0	0	13.07M	19.45M	21.23M	0
Other Non-Current Assets	3.99M	162.71M	241.19M	346.16M	336.26M	362.31M	269.87M	258.49M	219.89M	572.04M
Total Assets+	654.66M	721.61M	982.55M	984.81M	1.6B	1.59B	1.36B	1.51B	1.77B	1.63B
Asset Turnover	1.15x	1.16x	0.91x	0.93x	0.63x	0.76x	0.97x	0.95x	0.85x	1.07x
Asset Growth %	4.28%	10.23%	36.16%	0.23%	62.9%	-0.67%	-14.8%	11.27%	17.05%	-7.72%
Total Current Liabilities+	284.05M	313.21M	331.81M	377.95M	460.13M	485.4M	538.94M	577.06M	1.09B	737.78M
Accounts Payable	14.41M	17.37M	16.49M	17.48M	24.03M	15.28M	18.2M	11.29M	6.23M	12.92M
Days Payables Outstanding	21.99	22.67	19.94	20.57	28.21	16.58	18.02	10.89	5.82	11.19
Short-Term Debt	0	0	0	0	0	0	0	0	467.47M	0
Deferred Revenue (Current)	186.64M	201.66M	185.15M	190.08M	232.87M	275.84M	325.21M	377.85M	423.91M	509.27M
Other Current Liabilities	60.66M	66.04M	87.03M	122.4M	123.01M	120.95M	127.73M	134.95M	144.61M	228.5M
Current Ratio	1.40x	1.51x	1.84x	1.34x	2.12x	1.73x	1.57x	1.78x	1.23x	1.33x
Quick Ratio	1.40x	1.51x	1.84x	1.34x	2.12x	1.73x	1.57x	1.78x	1.23x	1.33x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	34.72M	37.32M	29.21M	67.85M	601.96M	692.04M	687.89M	579.84M	96.73M	106.69M
Long-Term Debt	0	0	0	0	518.2M	590.72M	593.61M	499.37M	0	60.83M
Capital Lease Obligations	0	0	0	52.61M	59.05M	87.82M	79.15M	66.9M	67.65M	0
Deferred Tax Liabilities	0	38.46M	6.94M	0	0	0	0	0	0	0
Other Non-Current Liabilities	20.31M	17.06M	22.27M	15.24M	15.71M	7.84M	11.58M	11.09M	26.97M	45.86M
Total Liabilities	318.77M	350.53M	361.02M	445.8M	1.06B	1.18B	1.23B	1.16B	1.18B	844.46M
Total Debt+	0	0	0	52.61M	595.8M	685.53M	687.74M	581.27M	549.67M	60.83M
Net Debt	-70.59M	-162.28M	-114.42M	-15.75M	423.9M	525.56M	542.68M	351.37M	212.56M	-151.62M
Debt / Equity	-	-	-	0.10x	1.10x	1.65x	5.26x	1.64x	0.94x	0.08x
Debt / EBITDA	-	-	-	-	-	-	-	5.03x	3.45x	0.23x
Net Debt / EBITDA	-0.94x	-1.38x	-13.85x	-	-	-	-	3.04x	1.33x	-0.58x
Interest Coverage	-	-	-	-	-7.42x	-11.91x	-14.04x	11.77x	18.12x	-
Total Equity+	335.89M	371.08M	621.53M	539.01M	542.17M	416.09M	130.84M	353.84M	585.48M	787.38M
Equity Growth %	4.04%	10.48%	67.49%	-13.28%	0.59%	-23.26%	-68.55%	170.43%	65.47%	34.48%
Book Value per Share	2.11	2.24	3.74	3.41	3.37	2.56	0.80	2.08	3.27	4.26
Total Shareholders' Equity	335.89M	371.08M	621.53M	539.01M	542.17M	416.09M	130.84M	353.84M	585.48M	787.38M
Common Stock	766K	781K	785K	796K	809K	817K	824K	838K	861K	1.7M
Retained Earnings	198.31M	221.93M	510.86M	410.92M	339.88M	276.45M	-76.51M	-8.71M	87.9M	463.39M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-7.09M	-3.73M	-13.32M	-13.23M	-2.95M	-6.99M	-23.07M	-17.88M	-30.25M	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	39.87M	158.24M	104.36M	-42.16M	-563K	39.12M	22.34M	217.78M	345.93M	505.23M
Operating CF Margin %	5.31%	18.82%	11.7%	-4.63%	-0.06%	3.23%	1.69%	15.2%	23.11%	28.94%
Operating CF Growth %	-36.23%	296.84%	-34.05%	-140.41%	98.66%	7048.14%	-42.9%	875.04%	58.84%	46.05%
Net Income	26.99M	32.93M	10.62M	-90.43M	-61.37M	-63.04M	-345.58M	67.81M	99.19M	393.44M
Depreciation & Amortization	22.37M	39.41M	25.3M	21.4M	21.35M	28.59M	34.72M	18.75M	79.85M	82.27M
Stock-Based Compensation	40.82M	53.31M	63.86M	80.91M	103.07M	115.95M	122.21M	143.35M	142.72M	155.24M
Deferred Taxes	-5.81M	13.79M	-30.9M	-49.32M	-59.78M	-75.34M	168.89M	363K	-1.54M	-170.81M
Other Non-Cash Items	142.53M	-13.79M	14.77M	46.26M	29.16M	92.49M	106.45M	65.52M	6.55M	45.09M
Working Capital Changes	-44.49M	32.58M	20.71M	-50.98M	-32.98M	-59.53M	-64.35M	-78.01M	19.16M	0
Change in Receivables	-56.73M	23.81M	25.78M	1.09M	-32.32M	-11.96M	-51.16M	-57.6M	79.03M	19.19M
Change in Inventory	-10.82M	0	0	0	-5.62M	0	0	-66K	0	0
Change in Payables	1.53M	14.47M	20.8M	0	37.95M	-18.73M	529K	66K	0	0
Cash from Investing+	-7.17M	-14.76M	-48.2M	70.07M	-321.68M	72.5M	13.07M	-50.75M	-202.58M	197.25M
Capital Expenditures	-19.09M	-13.74M	-11.89M	-10.61M	-25.37M	-10.46M	-35.38M	-16.78M	-7.71M	0
CapEx % of Revenue	2.54%	1.63%	1.33%	1.16%	2.49%	0.86%	2.68%	1.17%	0.52%	-
Acquisitions	-49.11M	-297K	-800K	-10.93M	296.31M	-4.99M	-922K	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	61.03M	-721K	-35.5M	0	-296.31M	0	0	0	0	-14.5M
Cash from Financing+	-51.72M	-54.23M	-101.46M	-74.26M	423.45M	-121.84M	-46.99M	-81.96M	-30.21M	-834.63M
Debt Issued (Net)	0	0	0	0	600M	0	0	-88.99M	-33.89M	0
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	0
Dividends Paid	-9.17M	-9.28M	-9.43M	-9.49M	-9.63M	-9.76M	-9.83M	-9.96M	-10.2M	-15.42M
Share Repurchases	-43.43M	-44.95M	-92.03M	-66.97M	-103.54M	-122.64M	-46.33M	-1.92M	-73.49M	-17.54M
Other Financing	0	0	0	2.2M	-63.39M	10.55M	9.17M	18.91M	87.37M	-819.21M
Net Change in Cash	-22.43M	91.69M	-47.86M	-46.06M	103.54M	-11.93M	-14.91M	87.77M	108.7M	-125.17M
Free Cash Flow+	20.79M	144.49M	92.46M	-52.77M	-25.93M	28.66M	-13.04M	201M	338.21M	505.23M
FCF Margin %	2.77%	17.19%	10.37%	-5.79%	-2.55%	2.37%	-0.99%	14.03%	22.59%	28.94%
FCF Growth %	-59.65%	595.15%	-36.01%	-157.07%	50.86%	210.53%	-145.51%	1641.09%	68.26%	49.38%
FCF per Share	0.13	0.87	0.56	-0.33	-0.16	0.18	-0.08	1.18	1.89	2.73
FCF Conversion (FCF/Net Income)	1.48x	4.80x	9.83x	0.47x	0.01x	-0.62x	-0.06x	3.21x	3.49x	1.28x
Interest Paid	0	0	0	0	2.34M	4.5M	4.5M	4.13M	3.81M	0
Taxes Paid	28.84M	2.32M	6.63M	4.75M	3.38M	0	7.64M	11.66M	82.32M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	8.19%	9.32%	2.14%	-15.58%	-11.35%	-13.16%	-126.37%	27.98%	21.12%	57.32%
Return on Invested Capital (ROIC)	15.34%	29.48%	-3.57%	-19.64%	-14.46%	-7.45%	-10.16%	8.81%	12.36%	27.52%
Gross Margin	69.7%	72.43%	66.15%	65.98%	69.44%	72.24%	72.03%	73.58%	73.91%	75.86%
Net Margin	3.6%	3.92%	1.19%	-9.92%	-6.03%	-5.2%	-26.22%	4.73%	6.63%	22.54%
Debt / Equity	-	-	-	0.10x	1.10x	1.65x	5.26x	1.64x	0.94x	0.08x
Interest Coverage	-	-	-	-	-7.42x	-11.91x	-14.04x	11.77x	18.12x	-
FCF Conversion	1.48x	4.80x	9.83x	0.47x	0.01x	-0.62x	-0.06x	3.21x	3.49x	1.28x
Revenue Growth	9.9%	12.04%	6.07%	2.22%	11.65%	19.08%	8.76%	8.71%	4.51%	16.61%

Pegasystems Inc. (PEGA) 10-Year Financial Performance & Capital Metrics

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Growth Metrics

Revenue CAGR

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Revenue History

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Pegasystems Inc. (PEGA) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare PEGA vs Peers

vs CRM

vs HUBS

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios