Overview Dividends

(PRGS) Progress Software - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US7433121008

AI Applications, DevOps Automation, Data Connectivity, Network Security, Load Balancing

PRGS EPS (Earnings per Share)

EPS Growth (3Y CAGR): 11.21%
EPS Trend (3Y Correlation): 79.9%

PRGS Revenue

Revenue Growth (3Y CAGR): 18.36%
Revenue Trend (3Y Correlation): 91.5%

Risk via 10d forecast
Volatility	35.6%
Value at Risk 5%th	49.3%
Relative Tail Risk	-15.74%

Reward TTM
Sharpe Ratio	-1.34
Alpha	-49.01

Character TTM
Hurst Exponent	0.632
Beta	0.718
Beta Downside	0.433

Drawdowns 3y
Max DD	41.37%
Mean DD	12.31%
Median DD	9.67%

Description: PRGS Progress Software November 11, 2025

Progress Software (NASDAQ:PRGS) builds and manages AI-enhanced software solutions ranging from DevOps automation (Chef) and decision-automation (Corticon) to data-connectivity (DataDirect), low-code development (OpenEdge), and network monitoring (WhatsUp Gold). Its portfolio also includes cloud-native load balancing (Kemp LoadMaster), secure file transfer (MOVEit), and AI-driven digital experience tools (Sitefinity, ShareFile). The company sells directly and through a channel ecosystem of ISVs, OEMs, system integrators, VARs and distributors, serving enterprise customers worldwide.

In FY 2023 Progress reported revenue of approximately $1.2 billion, up roughly 9 % year-over-year, with an operating margin near 15 %. The subscription-based SaaS component now represents over 45 % of total revenue, reflecting a broader industry shift toward recurring-revenue models.

Key macro drivers include accelerating enterprise cloud migration, which fuels demand for DevSecOps tools and secure data-integration platforms, and the expanding AI software market-projected to exceed $1.5 trillion by 2028-providing tailwinds for Progress’s AI-powered offerings.

For a deeper quantitative assessment of PRGS’s valuation relative to peers, the ValueRay platform offers a concise dashboard of forward-looking multiples and scenario analyses.

PRGS Stock Overview

Market Cap in USD	1,815m
Sub-Industry	Systems Software
IPO / Inception	1991-07-30
Return 12m vs S&P 500	-45.4%
Analyst Rating	4.29 of 5

PRGS Dividends

Currently no dividends paid

PRGS Growth Ratios

CAGR 3y	-5.70%
CAGR/Max DD Calmar Ratio	-0.14
CAGR/Mean DD Pain Ratio	-0.46
Current Volume	381.9k
Average Volume	528.3k

Piotroski VR‑10 (Strict, 0-10) 4.5

Net Income (48.5m TTM) > 0 and > 6% of Revenue (6% = 56.4m TTM)

FCFTA 0.08 (>2.0%) and ΔFCFTA -5.91pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -46.19% (prev 10.29%; Δ -56.49pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.08 (>3.0%) and CFO 192.0m > Net Income 48.5m (YES >=105%, WARN >=100%)

Net Debt (731.8m) to EBITDA (280.1m) ratio: 2.61 <= 3.0 (WARN <= 3.5)

Current Ratio 0.44 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (43.7m) change vs 12m ago 0.01% (target <= -2.0% for YES)

Gross Margin 81.11% (prev 77.45%; Δ 3.66pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 46.52% (prev 44.16%; Δ 2.36pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 2.10 (EBITDA TTM 280.1m / Interest Expense TTM 65.2m) >= 6 (WARN >= 3)

Altman Z'' -0.48

(A) -0.18 = (Total Current Assets 335.5m - Total Current Liabilities 769.8m) / Total Assets 2.42b

(B) 0.06 = Retained Earnings (Balance) 138.1m / Total Assets 2.42b

(D) 0.05 = Book Value of Equity 106.1m / Total Liabilities 1.94b

Total Rating: -0.48 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 68.66

1. Piotroski 4.50pt = -0.50

2. FCF Yield 7.32% = 3.66

3. FCF Margin 19.82% = 4.95

4. Debt/Equity 1.74 = 1.15

5. Debt/Ebitda 2.61 = -1.16

6. ROIC - WACC (= -0.96)% = -1.20

7. RoE 10.78% = 0.90

8. Rev. Trend 91.45% = 6.86

9. EPS Trend 79.92% = 4.00

What is the price of PRGS shares?

As of November 14, 2025, the stock is trading at USD 42.30 with a total of 381,915 shares traded.
Over the past week, the price has changed by +0.81%, over one month by -9.75%, over three months by -8.26% and over the past year by -37.85%.

Is Progress Software a good stock to buy?

Partly, yes. Based on ValueRay´s Fundamental Analyses, Progress Software (NASDAQ:PRGS) is currently (November 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 68.66 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of PRGS is around 35.21 USD . This means that PRGS is currently overvalued and has a potential downside of -16.76%.

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.

Strong Buy: 4
Buy: 1
Hold: 2
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the PRGS price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	68.3	61.5%
Analysts Target Price	68.3	61.5%
ValueRay Target Price	38.5	-9.1%

PRGS Fundamental Data Overview November 11, 2025

Market Cap USD = 1.81b (1.81b USD * 1.0 USD.USD)
P/E Trailing = 38.7982
P/E Forward = 7.8802
P/S = 1.9301
P/B = 4.1607
P/EG = 1.5755
Beta = 0.633
Revenue TTM = 940.1m USD
EBIT TTM = 136.8m USD
EBITDA TTM = 280.1m USD
Long Term Debt = 1.06b USD (from longTermDebt, last quarter)
Short Term Debt = 8.79m USD (from shortTermDebt, last quarter)
Debt = 830.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 731.8m USD (from netDebt column, last quarter)
Enterprise Value = 2.55b USD (1.81b + Debt 830.8m - CCE 99.0m)
Interest Coverage Ratio = 2.10 (Ebit TTM 136.8m / Interest Expense TTM 65.2m)
FCF Yield = 7.32% (FCF TTM 186.3m / Enterprise Value 2.55b)
FCF Margin = 19.82% (FCF TTM 186.3m / Revenue TTM 940.1m)
Net Margin = 5.16% (Net Income TTM 48.5m / Revenue TTM 940.1m)
Gross Margin = 81.11% ((Revenue TTM 940.1m - Cost of Revenue TTM 177.6m) / Revenue TTM)
Gross Margin QoQ = 80.97% (prev 80.08%)
Tobins Q-Ratio = 1.05 (Enterprise Value 2.55b / Total Assets 2.42b)
Interest Expense / Debt = 2.13% (Interest Expense 17.7m / Debt 830.8m)
Taxrate = 25.92% (6.79m / 26.2m)
NOPAT = 101.4m (EBIT 136.8m * (1 - 25.92%))
Current Ratio = 0.44 (Total Current Assets 335.5m / Total Current Liabilities 769.8m)
Debt / Equity = 1.74 (Debt 830.8m / totalStockholderEquity, last quarter 477.7m)
Debt / EBITDA = 2.61 (Net Debt 731.8m / EBITDA 280.1m)
Debt / FCF = 3.93 (Net Debt 731.8m / FCF TTM 186.3m)
Total Stockholder Equity = 450.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.00% (Net Income 48.5m / Total Assets 2.42b)
RoE = 10.78% (Net Income TTM 48.5m / Total Stockholder Equity 450.3m)
RoCE = 9.06% (EBIT 136.8m / Capital Employed (Equity 450.3m + L.T.Debt 1.06b))
RoIC = 5.26% (NOPAT 101.4m / Invested Capital 1.93b)
WACC = 6.22% (E(1.81b)/V(2.65b) * Re(8.35%) + D(830.8m)/V(2.65b) * Rd(2.13%) * (1-Tc(0.26)))
Discount Rate = 8.35% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.25%
[DCF Debug] Terminal Value 77.74% ; FCFE base≈199.9m ; Y1≈207.4m ; Y5≈236.8m
Fair Price DCF = 91.52 (DCF Value 3.93b / Shares Outstanding 42.9m; 5y FCF grow 3.89% → 3.0% )
EPS Correlation: 79.92 | EPS CAGR: 11.21% | SUE: 3.76 | # QB: 8
Revenue Correlation: 91.45 | Revenue CAGR: 18.36% | SUE: 4.0 | # QB: 1

Additional Sources for PRGS Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle