Stocks · Technology · Software - Infrastructure
Progress Software Corporation PRGS
$36.90 +0.87% Close, Oct 2, 2026 · NASDAQ · Market cap $1.51B
High qualityInexpensive vs sector
Next earnings report: Jan 19, 2027
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $2.17, up 98.1% year over year.
- Earnings beat analyst estimates in each of the last 15 quarters (average surprise over the last four: +9.3%).
- The shares trade at 17.0× trailing earnings, lower than 90% of the company's own readings over the past five years.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth60Neutral
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 32%
- EPS growth (TTM, YoY)Top 20%
- FCF growth (TTM, YoY)Top 19%
- Revenue growth, 3-year CAGRTop 24%
- Revenue growth accelerationBottom 7%
Quality83Strong
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 32%
- Gross marginTop 11%
- Operating marginTop 16%
- Cash conversion (OCF / net income)Top 11%
- Accruals (lower is better)Top 36%
- Net debt / EBITDA (lower is better)Bottom 11%
- Interest coverBottom 47%
Value95Exceptional
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 13%
- Free-cash-flow yieldTop 3%
- EBITDA / enterprise valueTop 9%
- Sales / enterprise valueTop 36%
- P/E vs own 5-year history (lower is better)Top 18%
Momentum48Neutral
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 44%
- 6-month returnTop 34%
- 1-year return vs S&P 500Bottom 34%
- Distance from 52-week highTop 36%
- Trend checklist (0–4)Bottom 40%
Revisions79Positive
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 47%
- Consecutive EPS beatsTop 1%
- Share of analysts rating BuyBottom 33%
- Upside to consensus price targetTop 36%
Stability57Neutral
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 26%
- Maximum drawdown, 3 yearsBottom 43%
- Beta vs S&P 500 (lower is better)Top 10%
- Net debt / EBITDA (lower is better)Bottom 11%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 15.5% | 6.4% | ↓ |
| EPS growth (YoY) | 57.8% | 98.1% | ↑ |
| Gross margin | 81.1% | 79.7% | ↓ |
| Operating margin | 14.5% | 18.9% | ↑ |
| FCF margin | 19.8% | 31.9% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 6.4% | 15.5% | ↓ | Bottom 32% |
| EPS growth (TTM, YoY) | 98.1% | 57.8% | ↑ | Top 20% |
| Gross margin | 79.7% | 81.1% | ↓ | Top 11% |
| Operating margin | 18.9% | 14.5% | ↑ | Top 16% |
| Net margin | 9.2% | 5.2% | ↑ | — |
| Free-cash-flow margin | 31.9% | 19.8% | ↑ | — |
| Return on invested capital | 8.3% | — | Top 32% | |
| Revenue growth, 3-year CAGR | 17.5% | — | Top 24% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 3.00×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -10.2%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 7.2%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -16.2 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 3.91×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 2.9×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.03%
- Net buyback yield (TTM)
- 5.44%
- Shareholder yield
- 5.48%
- Share count change, 1 year
- -5.1%
- Share count change, 3-year CAGR
- -2.7%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Aug 31, 2026 (filed Sep 30, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 15
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +9.3%
- Average 2-day reaction, last 8
- +0.2%
- Positive 20 days after report
- 3 of 7
Analysts
- Consensus price target
- $52.50
- Target vs current price
- +42.3%
- Analysts with a rating
- 13
- Share rating Buy or Strong Buy
- 54%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Sep 30, 2026 | +11.2% | +1.3% | — | — | — |
| Jun 30, 2026 | +8.7% | -0.8% | +15.9% | +19.3% | +21.2% |
| Mar 30, 2026 | +1.9% | +2.2% | +2.6% | -1.0% | +8.3% |
| Jan 20, 2026 | +15.3% | -3.7% | +7.0% | -12.6% | -26.2% |
| Sep 29, 2025 | +15.4% | +1.4% | +9.9% | +9.5% | +2.3% |
| Jun 30, 2025 | +7.7% | +0.1% | -19.2% | -22.4% | -35.7% |
| Mar 31, 2025 | +23.6% | +0.2% | +9.3% | +15.2% | +23.7% |
| Jan 21, 2025 | +9.9% | +0.9% | -13.4% | -8.3% | -9.3% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Sep 30, 2026 | $1.69 | $1.52 | +11.2% | $246.0M |
| Jun 30, 2026 | $1.62 | $1.49 | +8.7% | $237.4M |
| Mar 30, 2026 | $1.60 | $1.57 | +1.9% | $247.8M |
| Jan 20, 2026 | $1.51 | $1.31 | +15.3% | $252.7M |
| Sep 29, 2025 | $1.50 | $1.30 | +15.4% | $249.8M |
| Jun 30, 2025 | $1.40 | $1.30 | +7.7% | $237.4M |
| Mar 31, 2025 | $1.31 | $1.06 | +23.6% | $238.0M |
| Jan 21, 2025 | $1.33 | $1.21 | +9.9% | $215.0M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 17.0× | 27.3× | 10th | Top 13% |
| P/E (forward) | 6.0× | — | — | — |
| EV / EBITDA | 9.0× | — | — | Top 9% |
| EV / Sales | 2.66× | — | — | Top 36% |
| Free-cash-flow yield | 21.09% | — | — | Top 3% |
| Earnings yield | 5.88% | — | — | Top 13% |
P/E over the past five years
Range 14.5× – 48.9× since Aug 31, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -18.4%
- Earnings per share growth (TTM)
- +98.1%
- Change in P/E multiple
- -52.6%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 1
- 50-day average slope (20 days)
- +3.0%
- 200-day average slope (20 days)
- -0.5%
- Distance from 50-day average
- -12.0%
- Distance from 200-day average
- +0.3%
- RSI (14)
- 34.4
- Relative volume
- 1.69×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 45.2%
- Volatility vs own 5-year history
- 88th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.72
- Correlation with S&P 500
- 0.24
- Current drawdown from 1-year high
- -21.3%
- Maximum drawdown, 3 years
- -64.1%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Nov 25, 2024 | Apr 1, 2026 | -64.1% | 336 days | Not yet recovered |
| Nov 16, 2021 | Sep 26, 2022 | -22.3% | 215 days | 46 days (Nov 30, 2022) |
| Aug 29, 2023 | Jun 20, 2024 | -22.0% | 203 days | 67 days (Sep 25, 2024) |
| Jan 14, 2021 | Jan 29, 2021 | -17.7% | 10 days | 165 days (Sep 24, 2021) |
| Jun 14, 2023 | Jun 28, 2023 | -12.5% | 9 days | 27 days (Aug 7, 2023) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $1.51B
- P/E (TTM)
- 17.0
- EPS, diluted (TTM)
- $2.17
- Revenue (TTM)
- $999.9M
- 52-week range
- $23.82 – $47.37
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $531.3M | $602.0M | $694.4M | $753.4M | $977.8M |
| Gross profit | $452.9M | $507.5M | $567.9M | $622.9M | $790.3M |
| Operating income | $116.1M | $132.1M | $110.5M | $124.0M | $153.3M |
| Net income | $78.4M | $95.1M | $70.2M | $68.4M | $73.1M |
| EPS (diluted) | $1.76 | $2.15 | $1.57 | $1.54 | $1.66 |
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $215.0M | $238.0M | $237.4M | $249.8M | $252.7M | $247.8M | $253.5M | $246.0M |
| Net income | $1.1M | $10.9M | $17.0M | $19.4M | $25.7M | $22.8M | $21.1M | $22.8M |
| EPS (diluted) | $0.03 | $0.24 | $0.39 | $0.44 | $0.59 | $0.53 | $0.50 | $0.55 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $178.5M | $192.2M | $173.9M | $211.5M | $235.2M |
| Capital expenditure | -$4.7M | -$6.1M | -$5.6M | -$5.2M | -$5.7M |
| Free cash flow | $173.9M | $186.1M | $168.3M | $206.3M | $229.5M |
| Dividends paid | -$31.6M | -$31.1M | -$31.6M | -$31.5M | -$786,000 |
| Net share buybacks | -$35.0M | -$60.9M | -$8.0M | -$59.0M | -$86.2M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $113.7M
- Total assets
- $2.30B
- Total liabilities
- $1.77B
- Total debt
- $1.27B
- Net debt
- $1.15B
- Shareholders’ equity
- $530.0M
As of Aug 31, 2026 (filed Sep 30, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Aug 30, 2024 | $0.18 | Sep 16, 2024 |
| Jun 3, 2024 | $0.18 | Jun 17, 2024 |
| Feb 29, 2024 | $0.18 | Mar 15, 2024 |
| Nov 30, 2023 | $0.18 | Dec 15, 2023 |
| Aug 31, 2023 | $0.18 | Sep 15, 2023 |
| May 31, 2023 | $0.18 | Jun 15, 2023 |
| Feb 28, 2023 | $0.18 | Mar 15, 2023 |
| Nov 30, 2022 | $0.18 | Dec 15, 2022 |
Short interest
- Shares sold short
- 4,679,885
- Days to cover
- 8.72
- Change vs previous report
- +2.5%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Jan 31, 2011
- 3-for-2
- Jan 24, 2000
- 2-for-1
- Jul 14, 1998
- 3-for-2
- Nov 28, 1995
- 2-for-1