PRGS Financials Progress Software Corp /Ma

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 Oct 4, 2026, 10:16 UTC 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

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
2025	$978M	$73M	80.8%	15.7%	15.3%	3.0%	$229M	$1.4B	$95M
2024	$753M	$68M	82.7%	16.5%	15.6%	2.7%	$206M	$1.5B	$118M
2023	$694M	$70M	81.8%	15.9%	15.3%	4.4%	$168M	$724M	$127M
2022	$602M	$95M	84.3%	21.9%	23.9%	6.7%	$186M	$618M	$256M
2021	$531M	$78M	85.2%	21.9%	19.0%	5.8%	$174M	$560M	$155M
2020	$442M	$80M	86.0%	24.4%	23.0%	7.7%	$138M	$384M	$98M
2019	$413M	$26M	81.8%	9.7%	8.0%	3.0%	$124M	$297M	$154M
2018	$379M	$50M	82.3%	17.9%	15.3%	7.7%	$114M	$118M	$105M
2017	$389M	$29M	82.2%	14.8%	7.2%	4.0%	$102M	$124M	$133M
2016	$405M	-$56M	83.8%	-7.3%	-12.6%	-7.4%	$97M	$135M	$133M
2015	—	-$9M	—	—	-1.7%	-1.0%	$97M	$144M	$212M
2014	—	$49M	—	—	9.1%	7.0%	$100M	$0	$263M
2013	—	$75M	—	—	14.6%	11.0%	$354000	—	$199M
2012	—	$47M	—	—	7.4%	5.4%	$96M	—	$302M
2011	—	$60M	—	—	9.5%	6.9%	$109M	—	$161M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
Aug '26	$246M	$23M	82.7%	18.9%	4.3%	1.0%	$86M	$1.2B	$114M
May '26	$253M	$21M	82.3%	17.8%	4.2%	0.9%	$77M	$1.3B	$103M
Feb '26	$248M	$23M	82.3%	18.8%	4.6%	1.0%	$96M	$1.3B	$113M
Nov '25	$253M	$26M	81.6%	15.2%	5.4%	1.0%	$60M	$1.4B	$95M
Aug '25	$250M	$19M	81.0%	17.6%	4.1%	0.8%	$72M	$1.4B	$99M
May '25	$237M	$17M	80.1%	16.3%	3.8%	0.7%	$30M	$1.5B	$102M
Feb '25	$238M	$11M	80.6%	13.6%	2.5%	0.4%	$68M	$1.5B	$124M
Nov '24	$215M	$1M	83.0%	10.0%	0.3%	0.0%	$17M	$1.5B	$118M
Aug '24	$179M	$28M	83.7%	22.6%	6.7%	1.8%	$57M	—	$233M
May '24	$175M	$16M	81.7%	15.5%	4.0%	1.0%	$63M	—	$190M
Feb '24	$185M	$23M	82.2%	19.0%	4.9%	1.5%	$70M	—	$133M
Nov '23	$177M	$15M	81.0%	12.7%	3.3%	1.0%	$31M	$724M	$127M
Aug '23	$175M	$19M	81.2%	16.8%	4.3%	1.2%	$45M	$755M	$138M
May '23	$178M	$12M	81.1%	12.9%	2.9%	0.8%	$46M	$786M	$126M
Feb '23	$164M	$24M	84.0%	21.7%	5.7%	1.4%	$46M	$812M	$108M
Nov '22	$157M	$24M	85.0%	19.4%	5.9%	1.7%	$37M	$618M	$256M
Aug '22	$151M	$22M	84.3%	21.2%	5.9%	1.6%	$39M	$619M	$224M
May '22	$149M	$29M	83.9%	27.0%	7.8%	2.1%	$67M	$620M	$225M
Feb '22	$145M	$20M	84.0%	20.3%	5.6%	1.5%	$43M	$621M	$172M
Nov '21	$140M	$15M	85.0%	14.5%	3.6%	1.1%	$42M	$560M	$155M

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 24.7× (Mar '23) to 24.6× (Nov '26).
The price-to-sales ratio has fallen from 3.9× (Mar '23) to 1.8× (Nov '26).
The dividend yield has fallen from 1.3% (Mar '23) to 0.0% (Nov '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?

Progress Software Corp /Ma's P/E (TTM) is 19.50 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the PRGS stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 24.6× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.