15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 17.2% per year over the past 5 years.
Net income has grown slower than revenue (-1.7% vs 17.2% per year).
Operating margin has contracted, at 15.7% in the latest year.
Free cash flow has grown 10.7% per year over the past 5 years.
Financial health
Total debt ($1.4B) exceeds cash ($95M); net debt is $1.3B.
Total debt has grown faster than revenue (29.5% vs 17.2% per year).
Operating income covered interest expense 2.2× in the latest year.
Total debt is 8.8× EBITDA.
Shareholder returns
Dividends have been paid for 9 consecutive years, consuming 1.1% of earnings and 0.3% of free cash flow.
The dividend has declined 51.7% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$978M
$73M
80.8%
15.7%
$229M
$1.4B
$95M
2024
$753M
$68M
82.7%
16.5%
$206M
$1.5B
$118M
2023
$694M
$70M
81.8%
15.9%
$168M
$724M
$127M
2022
$602M
$95M
84.3%
21.9%
$186M
$618M
$256M
2021
$531M
$78M
85.2%
21.9%
$174M
$560M
$155M
2020
$442M
$80M
86.0%
24.4%
$138M
$384M
$98M
2019
$413M
$26M
81.8%
9.7%
$124M
$297M
$154M
2018
$379M
$50M
82.3%
17.9%
$114M
$118M
$105M
2017
$389M
$29M
82.2%
14.8%
$102M
$124M
$133M
2016
$405M
-$56M
83.8%
-7.3%
$97M
$135M
$133M
2015
—
-$9M
—
—
$97M
$144M
$212M
2014
—
$49M
—
—
$100M
$0
$263M
2013
—
$75M
—
—
$354000
—
$199M
2012
—
$47M
—
—
$96M
—
$302M
2011
—
$60M
—
—
$109M
—
$161M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Feb '26
$248M
$23M
82.3%
18.8%
$96M
$1.3B
$113M
Nov '25
$253M
$26M
81.6%
15.2%
$60M
$1.4B
$95M
Aug '25
$250M
$19M
81.0%
17.6%
$72M
$1.4B
$99M
May '25
$237M
$17M
80.1%
16.3%
$30M
$1.5B
$102M
Feb '25
$238M
$11M
80.6%
13.6%
$68M
$1.5B
$124M
Nov '24
$215M
$1M
83.0%
10.0%
$17M
$1.5B
$118M
Aug '24
$179M
$28M
83.7%
22.6%
$57M
—
$233M
May '24
$175M
$16M
81.7%
15.5%
$63M
—
$190M
Feb '24
$185M
$23M
82.2%
19.0%
$70M
—
$133M
Nov '23
$177M
$15M
81.0%
12.7%
$31M
$724M
$127M
Aug '23
$175M
$19M
81.2%
16.8%
$45M
$755M
$138M
May '23
$178M
$12M
81.1%
12.9%
$46M
$786M
$126M
Feb '23
$164M
$24M
84.0%
21.7%
$46M
$812M
$108M
Nov '22
$157M
$24M
85.0%
19.4%
$37M
$618M
$256M
Aug '22
$151M
$22M
84.3%
21.2%
$39M
$619M
$224M
May '22
$149M
$29M
83.9%
27.0%
$67M
$620M
$225M
Feb '22
$145M
$20M
84.0%
20.3%
$43M
$621M
$172M
Nov '21
$140M
$15M
85.0%
14.5%
$42M
$560M
$155M
Aug '21
$147M
$31M
86.4%
31.2%
$35M
$563M
$380M
May '21
$122M
$14M
84.2%
18.2%
$54M
$565M
$357M
Valuation over time
How the market has priced PRGS against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 25.4× (Mar '23) to 17.2× (Jun '26).
The price-to-sales ratio has fallen from 4.0× (Mar '23) to 1.3× (Jun '26).
The dividend yield has fallen from 1.3% (Mar '23) to 0.1% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is PRGS growing its revenue and profit?
Over the past 5 years, Progress Software Corp /Ma's revenue has grown 17.2% per year, and net income declined 1.7% per year. These are computed facts, not advice.
How much debt does PRGS have?
As of FY2025, Progress Software Corp /Ma reported $1.4B of total debt against $95M of cash; operating income covered interest expense 2.2×.
What is PRGS's profit margin?
In FY2025, gross margin was 80.8%, operating margin 15.7%, and net margin 7.5%.
What is PRGS's P/E ratio?
As of Jun '26, Progress Software Corp /Ma traded at a price-to-earnings ratio of about 17.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.