Is Progress Software (PRGS) overvalued or fairly valued?

MarketChacha shows Progress Software's valuation in context — a trailing P/E of about 22.0, a forward P/E of about 5.7, a price-to-book of about 3.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Progress Software's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.93×) from reported figures — education, not a rating.

What is Progress Software's revenue?

Progress Software reported revenue of $977.8M for FY2025, with net profit of $73.1M, per official filings.

What is the share price of Progress Software (PRGS)?

Progress Software last traded at $40.84 (-0.1% on the day), as of 10/16/2026 — a delayed quote shown for education, not investment advice.

Progress Software

PRGS · NYSE · Technology · United States

Snapshot

TickerPRGS

ExchangeNYSE

SectorTechnology

IndustrySoftware - Infrastructure

CountryUnited States

Employees2,801

HeadquartersBurlington, United States

Websitewww.progress.com

Filings tracked11

About Progress Software

Progress Software Corporation provides software products that develops, deploys, and manages artificial intelligence (AI) powered applications and digital experiences in the United States and internationally. The company offers Agentic RAG, a next-generation Agentic Rag-as-a-Service platform; Automate MFT, a cloud-native Software-as-a-Service (SaaS) platform for automated and secure file transfers; Chef, a DevOps/DevSecOps automation software; Corticon, a decision automation platform; DataDirect, a secure data connectivity tools for Relational, NoSQL, Big Data, and SaaS data sources; Developer Tools, such as software development tooling collection, including NET and JavaScript UI components for web, desktop and mobile applications, AI-prompt components, reporting and report management tools, and automated testing and mocking tools; Flowmon, a AI-powered network security and visibility product with automated response across hybrid cloud ecosystems; and Kemp LoadMaster, an application delivery and security product for cloud-native, and virtual and hardware load balancers. It also provides MarkLogic, a data agility platform to connect data and metadata; MOVEit, a managed file transfer software; OpenEdge, an application development platform; Semaphore, a Semantic AI platform; ShareFile, an SaaS-native AI-powered document centric collaboration platform; Sitefinity, a digital experience platform foundation; and WhatsUp Gold, a network infrastructure monitoring software to find and fix network problems. The company offers project management, implementation, custom software development, programming, and other services, as well as web-enable applications, and training services. It sells its products to end users, independent software vendors, original equipment manufacturers, system integrators, value added resellers, and distributors. The company was founded in 1981 and is headquartered in Burlington, Massachusetts.

Who owns it

Insiders2.3%
Institutions97.7%
Public & other0.0%

414 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.18.52%
Vanguard Portfolio Management LLC9.41%
State Street Corporation4.80%
Vanguard Capital Management LLC4.65%
Victory Capital Management Inc.4.13%
Arrowstreet Capital, Limited Partnership3.12%
LSV Asset Management3.09%
Goldman Sachs Group Inc3.08%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 2.6 points over the period — profitability is trending down.

Cash conversion2.93×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend10.1% → 7.5%

Margin has compressed by about 2.6 points over the period — profitability is trending down.

Return on equity15.3%

Latest ROE of 15.3% — capital is generating a healthy return.

Growth qualityrev 19% · PAT 2%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $314.8M · EPS 1.56

Est. earnings growth -2.2%

Next fiscal year

Rev $1.3B · EPS 7.18

Est. earnings growth +15.8%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$977.8M

Net margin

7.5%

ROE

15.3%

Revenue CAGR (2y)

+18.7%

Profit CAGR (2y)

+2.1%

EPS (FY2025)

1.66

Net profit (FY2025)

$73.1M

Ask MarketChacha about PRGS

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$977.8M	$73.1M	1.66	7.5%	15.3%
FY2024	$753.4M	$68.4M	1.54	9.1%	15.6%
FY2023	$694.4M	$70.2M	1.57	10.1%	15.3%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$253.5M	$21.1M	0.50	8.3%
2026Q1	$247.8M	$22.8M	0.53	9.2%
2025Q3	$249.8M	$19.4M	0.44	7.8%
2025Q2	$237.4M	$17.0M	0.39	7.2%
2025Q1	$238.0M	$10.9M	0.24	4.6%
2024Q3	$178.7M	$28.5M	0.65	15.9%
2024Q2	$175.1M	$16.2M	0.37	9.2%
2024Q1	$184.7M	$22.6M	0.51	12.3%
2023Q3	$175.0M	$19.1M	0.42	10.9%
2023Q2	$178.3M	$12.1M	0.27	6.8%
2023Q1	$164.2M	$23.7M	0.53	14.4%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Material agreement, Results of operations, Reg FD disclosure, Exhibits
SEC7/22/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC6/30/2026material
10-Q filing
SEC6/30/2026
8-K — Shareholder vote results
SEC5/11/2026material
10-Q filing
SEC3/31/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC3/30/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC1/20/2026material
10-K filing
SEC1/20/2026

2025

8-K/A — Reg FD disclosure, Exhibits
SEC9/30/2025
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC9/29/2025material
10-Q filing
SEC9/29/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.