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Progress Software (PRGS) | Financial Analysis & Statements

Progress Software Corporation | Mid-cap | Technology

$46.70

4.45%

Progress Software vs Microsoft Progress Software vs Oracle Progress Software vs Teradata Progress Software vs Evercommerce Progress Software vs CSG Systems Progress Software vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Feb 2025

Income Metrics

Revenue 238.0M

Gross Profit 191.8M 80.58%

Operating Income 42.7M 17.93%

Net Income 10.9M 4.60%

EPS (Diluted) $0.24

Balance Sheet Metrics

Total Assets 2.4B

Total Liabilities 2.0B

Shareholders Equity 452.7M

Debt to Equity 4.33

Cash Flow Metrics

Operating Cash Flow 30.1M

Free Cash Flow 29.5M

Revenue & Profitability Trend

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Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Progress Software Income Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Revenue i	753.4M	694.4M	602.0M	531.3M	442.2M
Cost of Goods Sold i	130.5M	126.6M	94.5M	78.4M	62.1M
Gross Profit i	622.9M	567.9M	507.5M	452.9M	380.0M
Gross Margin % i	82.7%	81.8%	84.3%	85.2%	86.0%
Operating Expenses
Research & Development i	146.3M	132.4M	114.6M	103.3M	88.6M
Selling, General & Administrative i	254.1M	239.2M	218.6M	191.0M	154.1M
Other Operating Expenses i	-	-	602.0K	-	-
Total Operating Expenses i	400.4M	371.6M	333.8M	294.4M	242.7M
Operating Income i	157.2M	129.8M	127.4M	126.5M	117.3M
Operating Margin % i	20.9%	18.7%	21.2%	23.8%	26.5%
Non-Operating Items
Interest Income i	4.7M	2.5M	1.4M	777.0K	1.5M
Interest Expense i	32.0M	30.8M	15.8M	20.0M	10.2M
Other Non-Operating Income	-35.7M	-21.9M	4.2M	-11.7M	-12.0M
Pre-tax Income i	94.3M	79.7M	117.3M	95.5M	96.6M
Income Tax i	25.8M	9.5M	22.2M	17.1M	16.9M
Effective Tax Rate % i	27.4%	11.9%	18.9%	17.9%	17.5%
Net Income i	68.4M	70.2M	95.1M	78.4M	79.7M
Net Margin % i	9.1%	10.1%	15.8%	14.8%	18.0%
Key Metrics
EBITDA i	265.0M	235.5M	203.6M	180.3M	153.5M
EPS (Basic) i	$1.58	$1.62	$2.19	$1.79	$1.78
EPS (Diluted) i	$1.54	$1.57	$2.15	$1.76	$1.76
Basic Shares Outstanding i	43268000	43456000	43475000	43916000	44886000
Diluted Shares Outstanding i	43268000	43456000	43475000	43916000	44886000

Income Statement Trend

Progress Software Balance Sheet From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Assets
Current Assets
Cash & Equivalents i	118.1M	127.0M	256.3M	155.4M	98.0M
Short-term Investments i	-	-	0	2.0M	8.0M
Accounts Receivable i	163.6M	125.8M	97.8M	99.8M	84.0M
Inventory i	-	-	-	-	-
Other Current Assets	52.5M	48.0M	42.8M	39.5M	24.0M
Total Current Assets i	368.8M	330.8M	426.1M	337.8M	238.9M
Non-Current Assets
Property, Plant & Equipment i	30.9M	18.7M	17.6M	33.3M	62.2M
Goodwill i	3.3B	2.0B	1.6B	1.6B	1.2B
Intangible Assets i	723.6M	354.3M	217.4M	287.2M	212.7M
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	97.8M	51.7M	64.5M	27.8M	37.9M
Total Non-Current Assets i	2.2B	1.3B	985.4M	1.0B	802.8M
Total Assets i	2.5B	1.6B	1.4B	1.4B	1.0B
Liabilities
Current Liabilities
Accounts Payable i	13.9M	12.4M	9.3M	9.7M	10.0M
Short-term Debt i	9.2M	23.2M	13.7M	33.7M	25.3M
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	-	-	-	-	-
Total Current Liabilities i	455.1M	352.1M	318.0M	322.9M	262.5M
Non-Current Liabilities
Long-term Debt i	1.6B	723.9M	626.9M	557.7M	391.2M
Deferred Tax Liabilities i	2.3M	3.6M	4.6M	14.2M	0
Other Non-Current Liabilities	6.0M	4.5M	8.7M	8.9M	15.1M
Total Non-Current Liabilities i	1.6B	791.0M	695.0M	628.1M	433.2M
Total Liabilities i	2.1B	1.1B	1.0B	951.0M	695.8M
Equity
Common Stock i	434.0K	438.0K	433.0K	441.0K	442.0K
Retained Earnings i	120.4M	120.9M	101.7M	90.3M	72.5M
Treasury Stock i	-	-	-	-	-
Other Equity	-	-	-	-	-
Total Shareholders Equity i	438.8M	459.7M	398.5M	412.5M	346.0M
Key Metrics
Total Debt i	1.6B	747.1M	640.6M	591.4M	416.5M
Working Capital i	-86.3M	-21.3M	108.0M	14.9M	-23.6M

Balance Sheet Composition

Progress Software Cash Flow Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Operating Activities
Net Income i	68.4M	70.2M	95.1M	78.4M	79.7M
Depreciation & Amortization i	103.0M	103.1M	74.7M	53.0M	34.8M
Stock-Based Compensation i	46.8M	40.5M	37.1M	29.7M	23.5M
Working Capital Changes i	-15.2M	-22.8M	-6.9M	1.7M	588.0K
Operating Cash Flow i	210.5M	174.0M	202.3M	181.1M	144.5M
Investing Activities
Capital Expenditures i	-5.2M	-5.6M	19.9M	-4.7M	-5.6M
Acquisitions i	-852.7M	-355.2M	0	-254.0M	-213.1M
Investment Purchases i	0	-15.3M	0	0	-5.0M
Investment Sales i	0	15.7M	2.0M	6.0M	16.4M
Investing Cash Flow i	-857.9M	-360.4M	22.0M	-250.3M	-207.3M
Financing Activities
Share Repurchases i	-86.8M	-34.0M	-77.0M	-35.0M	-60.0M
Dividends Paid i	-31.5M	-31.6M	-31.1M	-31.6M	-29.9M
Debt Issuance i	1.2B	195.0M	7.5M	350.1M	98.5M
Debt Repayment i	-371.2M	-91.9M	-6.9M	-117.3M	-11.3M
Financing Cash Flow i	640.8M	-33.8M	-101.4M	117.1M	-8.0M
Free Cash Flow i	206.3M	168.4M	186.1M	173.9M	138.3M
Net Change in Cash i	-6.6M	-220.2M	122.8M	47.8M	-70.8M

Cash Flow Trend

Progress Software Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 35.92

Forward P/E 8.31

Price to Book 4.45

Price to Sales 2.32

PEG Ratio 8.31

Profitability Ratios

Profit Margin 6.63%

Operating Margin 17.75%

Return on Equity 13.48%

Return on Assets 5.36%

Financial Health

Current Ratio 0.43

Debt to Equity 328.94

Beta 0.70

Per Share Data

EPS (TTM) $1.30

Book Value per Share $10.50

Revenue per Share $20.17

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
prgs	2.0B	35.92	4.45	13.48%	6.63%	328.94
Microsoft	3.8T	39.67	11.86	33.61%	35.79%	32.63
Oracle	654.9B	53.72	32.00	82.38%	21.68%	519.59
Teradata	2.0B	18.69	11.36	87.65%	6.57%	331.25
Evercommerce	2.1B	-52.45	2.83	-2.07%	-2.95%	73.33
CSG Systems	1.8B	21.41	5.84	29.06%	6.78%	198.38

Financial data is updated regularly. All figures are in the company's reporting currency.