(PRGS) Progress Software - Overview

Sector: Technology | Industry: Software - Infrastructure | Exchange: NASDAQ (USA) | Market Cap: 1.084m USD | Total Return: -53.1% in 12m

AI, Automation, Data, Development, Networking
Total Rating 33
Safety 56
Buy Signal -1.50
Software - Infrastructure
Industry Rotation: -27.5
Market Cap: 1.08B
Avg Turnover: 35.8M USD
ATR: 7.41%
Peers RS (IBD): 22.4
Risk 5d forecast
Volatility76.0%
Rel. Tail Risk-18.0%
Reward TTM
Sharpe Ratio-1.61
Alpha-83.71
Character TTM
Beta0.825
Beta Downside0.649
Drawdowns 3y
Max DD64.10%
CAGR/Max DD-0.34
EPS (Earnings per Share) EPS (Earnings per Share) of PRGS over the last years for every Quarter: "2021-02": 0.95, "2021-05": 0.82, "2021-08": 1.18, "2021-11": 0.92, "2022-02": 0.97, "2022-05": 1.04, "2022-08": 1, "2022-11": 1.12, "2023-02": 1.19, "2023-05": 1.06, "2023-08": 1.08, "2023-11": 1.02, "2024-02": 1.25, "2024-05": 1.09, "2024-08": 1.26, "2024-11": 1.33, "2025-02": 1.31, "2025-05": 1.4, "2025-08": 1.5, "2025-11": 1.51, "2026-02": 1.6,
EPS CAGR: 12.17%
EPS Trend: 89.8%
Last SUE: 0.54
Qual. Beats: 0
Revenue Revenue of PRGS over the last years for every Quarter: 2021-02: 121.28, 2021-05: 122.488, 2021-08: 147.417, 2021-11: 140.128, 2022-02: 144.922, 2022-05: 148.747, 2022-08: 151.217, 2022-11: 157.127, 2023-02: 164.226, 2023-05: 178.251, 2023-08: 174.992, 2023-11: 176.97, 2024-02: 184.685, 2024-05: 175.077, 2024-08: 178.686, 2024-11: 214.961, 2025-02: 238.015, 2025-05: 237.355, 2025-08: 249.795, 2025-11: 252.666, 2026-02: 247.799,
Rev. CAGR: 14.58%
Rev. Trend: 95.6%
Last SUE: 0.42
Qual. Beats: 0

Warnings

High Debt/EBITDA (5.3) with thin interest coverage (1.8)

Altman Z'' -0.40 < 1.0 - financial distress zone

Volatile

Tailwinds

No distinct edge detected

Description: PRGS Progress Software

Progress Software Corporation develops and manages AI-powered applications and digital experiences. The company offers a range of software products, including Agentic RAG for AI-as-a-Service, Automate MFT for secure file transfers, and Chef for DevOps automation. The software sector is characterized by rapid innovation and evolving technological demands.

Additional offerings include Corticon for decision automation, DataDirect for data connectivity, and Developer Tools for UI components and testing. Progress also provides network security with Flowmon and application delivery with Kemp LoadMaster. The companys business model involves licensing software and providing related services.

Further products include MarkLogic for data agility, MOVEit for managed file transfer, OpenEdge for application development, and Sitefinity for digital experiences. Progress serves various clients, including independent software vendors and system integrators. For a deeper dive into their financial performance and market position, continue your research on ValueRay.

Headlines to Watch Out For
  • Subscription revenue growth drives financial performance
  • Acquisitions expand product portfolio, increasing market share
  • Demand for AI-powered applications boosts software sales
  • Cybersecurity product adoption impacts revenue streams
Piotroski VR‑10 (Strict) 6.5
Net Income: 85.0m TTM > 0 and > 6% of Revenue
FCF/TA: 0.11 > 0.02 and ΔFCF/TA 2.49 > 1.0
NWC/Revenue: -42.32% < 20% (prev -10.89%; Δ -31.43% < -1%)
CFO/TA 0.11 > 3% & CFO 264.9m > Net Income 85.0m
Net Debt (722.3m) to EBITDA (136.1m): 5.31 < 3
Current Ratio: 0.47 > 1.5 & < 3
Outstanding Shares: last quarter (42.7m) vs 12m ago -4.81% < -2%
Gross Margin: 81.25% > 18% (prev 0.82%; Δ 8.04k% > 0.5%)
Asset Turnover: 40.67% > 50% (prev 32.76%; Δ 7.90% > 0%)
Interest Coverage Ratio: 1.80 > 6 (EBITDA TTM 136.1m / Interest Expense TTM 67.7m)
Altman Z'' -0.40
A: -0.17 (Total Current Assets 370.1m - Total Current Liabilities 788.1m) / Total Assets 2.39b
B: 0.04 (Retained Earnings 100.3m / Total Assets 2.39b)
C: 0.05 (EBIT TTM 121.6m / Avg Total Assets 2.43b)
D: 0.26 (Book Value of Equity 498.8m / Total Liabilities 1.90b)
Altman-Z'' Score: -0.40 = B
Beneish M -2.87
DSRI: 1.09 (Receivables 216.8m/161.8m, Revenue 987.6m/806.7m)
GMI: 1.01 (GM 81.25% / 82.16%)
AQI: 0.98 (AQ_t 0.83 / AQ_t-1 0.84)
SGI: 1.22 (Revenue 987.6m / 806.7m)
TATA: -0.08 (NI 85.0m - CFO 264.9m) / TA 2.39b)
Beneish M-Score: -2.87 (Cap -4..+1) = A
What is the price of PRGS shares? As of April 11, 2026, the stock is trading at USD 26.65 with a total of 784,044 shares traded.
Over the past week, the price has changed by -6.16%, over one month by -28.84%, over three months by -39.20% and over the past year by -53.11%.
Is PRGS a buy, sell or hold? Progress Software has received a consensus analysts rating of 4.29. Therefore, it is recommended to buy PRGS.
  • StrongBuy: 4
  • Buy: 1
  • Hold: 2
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the PRGS price?
Analysts Target Price 50.8 90.7%
Progress Software (PRGS) - Fundamental Data Overview as of 07 April 2026
P/E Trailing = 13.2103
P/E Forward = 4.2937
P/S = 1.0975
P/B = 2.1731
P/EG = 0.8587
Revenue TTM = 987.6m USD
EBIT TTM = 121.6m USD
EBITDA TTM = 136.1m USD
Long Term Debt = 981.7m USD (from longTermDebt, last quarter)
Short Term Debt = 8.81m USD (from shortTermDebt, last quarter)
Debt = 990.5m USD (corrected: LT Debt 981.7m + ST Debt 8.81m)
Net Debt = 722.3m USD (from netDebt column, last quarter)
Enterprise Value = 1.96b USD (1.08b + Debt 990.5m - CCE 113.2m)
Interest Coverage Ratio = 1.80 (Ebit TTM 121.6m / Interest Expense TTM 67.7m)
EV/FCF = 7.61x (Enterprise Value 1.96b / FCF TTM 257.7m)
FCF Yield = 13.14% (FCF TTM 257.7m / Enterprise Value 1.96b)
FCF Margin = 26.10% (FCF TTM 257.7m / Revenue TTM 987.6m)
Net Margin = 8.61% (Net Income TTM 85.0m / Revenue TTM 987.6m)
Gross Margin = 81.25% ((Revenue TTM 987.6m - Cost of Revenue TTM 185.2m) / Revenue TTM)
Gross Margin QoQ = 82.30% (prev 81.59%)
Tobins Q-Ratio = 0.82 (Enterprise Value 1.96b / Total Assets 2.39b)
Interest Expense / Debt = 1.54% (Interest Expense 15.2m / Debt 990.5m)
Taxrate = 24.69% (7.48m / 30.3m)
NOPAT = 91.5m (EBIT 121.6m * (1 - 24.69%))
Current Ratio = 0.47 (Total Current Assets 370.1m / Total Current Liabilities 788.1m)
Debt / Equity = 1.99 (Debt 990.5m / totalStockholderEquity, last quarter 498.8m)
Debt / EBITDA = 5.31 (Net Debt 722.3m / EBITDA 136.1m)
Debt / FCF = 2.80 (Net Debt 722.3m / FCF TTM 257.7m)
Total Stockholder Equity = 476.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.50% (Net Income 85.0m / Total Assets 2.39b)
RoE = 17.82% (Net Income TTM 85.0m / Total Stockholder Equity 476.9m)
RoCE = 8.33% (EBIT 121.6m / Capital Employed (Equity 476.9m + L.T.Debt 981.7m))
RoIC = 4.87% (NOPAT 91.5m / Invested Capital 1.88b)
WACC = 5.19% (E(1.08b)/V(2.07b) * Re(8.88%) + D(990.5m)/V(2.07b) * Rd(1.54%) * (1-Tc(0.25)))
Discount Rate = 8.88% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.78%
[DCF] Terminal Value 86.69% ; FCFF base≈236.1m ; Y1≈244.8m ; Y5≈279.1m
[DCF] Fair Price = 179.1 (EV 8.26b - Net Debt 722.3m = Equity 7.54b / Shares 42.1m; r=6.0% [WACC]; 5y FCF grow 3.80% → 3.0% )
EPS Correlation: 89.82 | EPS CAGR: 12.17% | SUE: 0.54 | # QB: 0
Revenue Correlation: 95.57 | Revenue CAGR: 14.58% | SUE: 0.42 | # QB: 0
EPS next Quarter (2026-05-31): EPS=1.49 | Chg7d=+0.085 | Chg30d=+0.085 | Revisions Net=+4 | Analysts=6
EPS current Year (2026-11-30): EPS=5.98 | Chg7d=+0.106 | Chg30d=+0.106 | Revisions Net=+3 | Growth EPS=+4.6% | Growth Revenue=+1.7%
EPS next Year (2027-11-30): EPS=6.06 | Chg7d=+0.103 | Chg30d=+0.103 | Revisions Net=+1 | Growth EPS=+1.3% | Growth Revenue=+1.1%
[Analyst] Revisions Ratio: +0.67 (5 Up / 1 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 1.3% (Discount Rate 8.9% - Earnings Yield 7.6%)
[Growth] Growth Spread = +1.0% (Analyst 2.3% - Implied 1.3%)
External Resources
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