Progress Software Corporation (PRGS) Financial Ratios
30 years of historical data (1996–2025) · Technology · Software - Application
EV/EBITDA
↑
12.62
↓-20% vs avg
5yr avg: 15.74
30Y Low8.3·High21.1
P/FCF
↓
5.48
↓-56% vs avg
5yr avg: 12.42
30Y Low7.9·High32.5
P/B Ratio
↓
2.73
↓-50% vs avg
5yr avg: 5.43
30Y Low1.8·High6.9
ROE
↓
15.9%
-13% vs avg
5yr avg: 18.3%
30Y Low-12%·High29%
Debt/EBITDA
↑
5.33
+20% vs avg
5yr avg: 4.46
30Y Low0.0·High14.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PRGS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Progress Software Corporation trades at 17.9x earnings, 43% below its 5-year average of 31.2x, sitting at the 4th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a discount of 38%. On a free-cash-flow basis, the stock trades at 5.5x P/FCF, 56% below the 5-year average of 12.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $1.8B | $3.0B | $2.4B | $2.4B | $2.2B | $1.8B | $1.9B | $1.6B | $2.0B | $1.5B |
| Enterprise Value | $2.0B | $2.6B | $4.5B | $3.0B | $2.7B | $2.6B | $2.1B | $2.0B | $1.6B | $2.0B | $1.4B |
| P/E Ratio → | 17.88 | 24.95 | 44.42 | 34.31 | 24.80 | 27.53 | 22.78 | 72.43 | 25.48 | 53.69 | — |
| P/S Ratio | 1.28 | 1.86 | 4.03 | 3.46 | 3.92 | 4.07 | 4.11 | 4.61 | 4.08 | 5.04 | 3.61 |
| P/B Ratio | 2.73 | 3.81 | 6.93 | 5.23 | 5.92 | 5.24 | 5.25 | 5.77 | 5.23 | 5.33 | 3.60 |
| P/FCF | 5.48 | 7.94 | 14.73 | 14.29 | 12.68 | 12.43 | 13.14 | 15.30 | 14.22 | 19.60 | 15.07 |
| P/OCF | 5.34 | 7.75 | 14.37 | 13.83 | 12.28 | 12.11 | 12.55 | 14.82 | 13.37 | 18.98 | 14.23 |
P/E links to full P/E history page with 30-year chart
PRGS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Progress Software Corporation's enterprise value stands at 12.6x EBITDA, 20% below its 5-year average of 15.7x. The Technology sector median is 16.7x, placing the stock at a 25% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.64 | 5.95 | 4.36 | 4.56 | 4.89 | 4.83 | 4.95 | 4.11 | 5.02 | 3.43 |
| EV / EBITDA | 12.62 | 16.17 | 19.74 | 14.16 | 13.26 | 15.36 | 14.99 | 21.14 | 14.54 | 19.86 | 144.73 |
| EV / EBIT | 13.13 | 16.82 | 35.50 | 27.40 | 20.62 | 22.48 | 20.00 | 53.25 | 24.76 | 28.40 | — |
| EV / FCF | — | 11.24 | 21.73 | 17.97 | 14.74 | 14.94 | 15.44 | 16.43 | 14.31 | 19.49 | 14.33 |
PRGS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Progress Software Corporation earns an operating margin of 15.7%. ROE of 15.9% indicates solid capital efficiency. ROIC of 7.4% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 80.8% | 80.8% | 82.7% | 81.8% | 84.3% | 85.2% | 86.0% | 81.8% | 78.6% | 80.5% | 83.8% |
| Operating Margin | 15.7% | 15.7% | 16.5% | 15.9% | 21.9% | 21.9% | 24.4% | 9.7% | 17.1% | 14.5% | -7.3% |
| Net Profit Margin | 7.5% | 7.5% | 9.1% | 10.1% | 15.8% | 14.8% | 18.0% | 6.4% | 16.0% | 9.4% | -13.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.9% | 15.9% | 15.2% | 16.4% | 23.4% | 20.7% | 23.6% | 8.2% | 18.5% | 9.6% | -12.0% |
| ROA | 2.9% | 2.9% | 3.3% | 4.7% | 6.9% | 6.5% | 8.3% | 3.5% | 9.3% | 5.1% | -6.8% |
| ROIC | 7.4% | 7.4% | 6.3% | 8.9% | 12.2% | 11.5% | 14.2% | 7.6% | 14.8% | 12.3% | -5.6% |
| ROCE | 8.2% | 8.2% | 7.5% | 9.4% | 12.4% | 12.8% | 15.2% | 7.4% | 14.2% | 10.8% | -4.8% |
PRGS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Progress Software Corporation carries a Debt/EBITDA ratio of 5.3x, which is highly leveraged (81% above the sector average of 2.9x). Net debt stands at $756M ($851M total debt minus $95M cash). Interest coverage of just 2.2x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.78 | 1.78 | 3.56 | 1.63 | 1.61 | 1.43 | 1.20 | 0.89 | 0.37 | 0.32 | 0.33 |
| Debt / EBITDA | 5.33 | 5.33 | 6.88 | 3.50 | 3.10 | 3.50 | 2.92 | 3.05 | 1.03 | 1.21 | 14.04 |
| Net Debt / Equity | — | 1.58 | 3.29 | 1.35 | 0.96 | 1.06 | 0.92 | 0.43 | 0.04 | -0.03 | -0.18 |
| Net Debt / EBITDA | 4.74 | 4.74 | 6.36 | 2.90 | 1.86 | 2.58 | 2.24 | 1.45 | 0.10 | -0.12 | -7.49 |
| Debt / FCF | — | 3.30 | 7.00 | 3.68 | 2.07 | 2.51 | 2.30 | 1.13 | 0.10 | -0.11 | -0.74 |
| Interest Coverage | 2.16 | 2.16 | 3.87 | 3.59 | 8.37 | 5.79 | 10.59 | 4.04 | 13.17 | 12.41 | -7.11 |
PRGS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.49x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.94x to 0.49x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.49 | 0.49 | 0.81 | 0.94 | 1.34 | 1.05 | 0.91 | 1.18 | 1.17 | 1.27 | 1.65 |
| Quick Ratio | 0.49 | 0.49 | 0.81 | 0.94 | 1.34 | 1.05 | 0.91 | 1.18 | 1.14 | 1.27 | 1.65 |
| Cash Ratio | 0.12 | 0.12 | 0.26 | 0.36 | 0.81 | 0.49 | 0.40 | 0.72 | 0.71 | 0.88 | 1.23 |
| Asset Turnover | — | 0.40 | 0.30 | 0.43 | 0.43 | 0.39 | 0.42 | 0.47 | 0.62 | 0.55 | 0.54 |
| Inventory Turnover | 11.60 | — | — | — | — | — | — | — | 11.60 | — | — |
| Days Sales Outstanding | — | 101.65 | 96.04 | 81.88 | 77.00 | 86.31 | 89.95 | 73.92 | 56.18 | 56.20 | 59.14 |
PRGS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Progress Software Corporation returns 8.4% to shareholders annually — split between a 0.1% dividend yield and 8.4% buyback yield. The payout ratio of 1.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.0% | 1.0% | 1.3% | 1.3% | 1.5% | 1.6% | 1.5% | 1.6% | 1.2% | — |
| Payout Ratio | 1.1% | 1.1% | 46.0% | 45.0% | 32.7% | 40.2% | 37.5% | 105.2% | 40.6% | 64.5% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.6% | 4.0% | 2.3% | 2.9% | 4.0% | 3.6% | 4.4% | 1.4% | 3.9% | 1.9% | — |
| FCF Yield | 18.3% | 12.6% | 6.8% | 7.0% | 7.9% | 8.0% | 7.6% | 6.5% | 7.0% | 5.1% | 6.6% |
| Buyback Yield | 8.4% | 5.8% | 2.9% | 1.4% | 3.3% | 1.6% | 3.3% | 1.3% | 7.4% | 3.7% | 5.7% |
| Total Shareholder Yield | 8.4% | 5.8% | 3.9% | 2.7% | 4.6% | 3.1% | 4.9% | 2.8% | 9.0% | 4.9% | 5.7% |
| Shares Outstanding | — | $44M | $44M | $45M | $44M | $45M | $45M | $45M | $46M | $49M | $49M |
Peer Comparison
Compare PRGS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PRGSYou | $1B | 17.9 | 12.6 | 5.5 | 80.8% | 15.7% | 15.9% | 7.4% | 5.3 |
 GWRE | $9B | 133.2 | 138.8 | 30.4 | 62.5% | 3.4% | 5.0% | 2.3% | 11.0 |
 PDFS | $3B | -4009.8 | 153.8 | — | 74.0% | 2.7% | -0.2% | 1.9% | 4.5 |
 PEGA | $5B | 14.1 | 17.1 | 10.4 | 75.9% | 15.1% | 57.3% | 27.2% | 0.3 |
 APPN | $2B | 1269.7 | 170.6 | 26.0 | 72.5% | 0.1% | — | 0.3% | 33.5 |
 MSFT | $2.8T | 27.8 | 17.8 | 39.4 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
 ORCL | $530B | 31.6 | 22.8 | — | 65.2% | 30.8% | 53.4% | 11.0% | 5.4 |
 IBM | $234B | 22.3 | 18.7 | 20.2 | 59.5% | 15.3% | 35.2% | 9.8% | 4.4 |
 DDOG | $79B | 743.3 | 1030.2 | 79.3 | 80.0% | -1.3% | 3.3% | -0.8% | 19.6 |
 CRM | $124B | 19.5 | 10.7 | 8.6 | 77.7% | 21.5% | 12.4% | 10.1% | 1.4 |
 NOW | $98B | 56.9 | 38.2 | 21.5 | 77.5% | 13.7% | 15.5% | 12.4% | 1.3 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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PRGS — Frequently Asked Questions
Quick answers to the most common questions about buying PRGS stock.
What is Progress Software Corporation's P/E ratio?
Progress Software Corporation's current P/E ratio is 17.9x. The historical average is 31.2x. This places it at the 4th percentile of its historical range.
What is Progress Software Corporation's EV/EBITDA?
Progress Software Corporation's current EV/EBITDA is 12.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.9x.
What is Progress Software Corporation's ROE?
Progress Software Corporation's return on equity (ROE) is 15.9%. The historical average is 11.9%.
Is PRGS stock overvalued?
Based on historical data, Progress Software Corporation is trading at a P/E of 17.9x. This is at the 4th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Progress Software Corporation's dividend yield?
Progress Software Corporation's current dividend yield is 0.06% with a payout ratio of 1.1%.
What are Progress Software Corporation's profit margins?
Progress Software Corporation has 80.8% gross margin and 15.7% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Progress Software Corporation have?
Progress Software Corporation's Debt/EBITDA ratio is 5.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.