Progress Software Corp
Research Progress Software Corp (PRGS) on Bullrun: valuation model: 4.7% undervalued, market cap USD 1.60B, P/E 17.9. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerPRGS
- ExchangeNASDAQ
- CountryUnited States
- SectorTechnology
- IndustrySoftware-Infrastructure
- CurrencyUSD
- Valuation signal4.7% undervalued
- Market capUSD 1.60B
- P/E17.9
- Financial periodQ2 2026
- RevenueUSD 253.47M
- Net incomeUSD 21.07M
- Free cash flowUSD 76.97M
- Gross margin82.3%
Valuation Snapshot
Bullrun's latest valuation model marks Progress Software Corp as 4.7% undervalued; latest market cap is USD 1.60B; P/E is 17.9.
Peer valuation comparison
Latest P/E is 17.92x versus a Technology sector median of 28.7x (37.6% below).
Latest P/E is 17.92x versus a United States median of 23.75x (24.5% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 977.83M | USD 73.13M | USD 229.49M | 80.8% | 1.66 | USD 94.81M | USD 1.40B | USD 478.35M |
| FY2024 | USD 753.41M | USD 68.44M | USD 206.29M | 82.7% | 1.54 | USD 118.08M | USD 1.53B | USD 438.79M |
| FY2023 | USD 694.44M | USD 70.20M | USD 168.35M | 81.8% | 1.57 | USD 126.96M | USD 723.99M | USD 459.72M |
| FY2022 | USD 602.01M | USD 95.07M | USD 186.07M | 84.3% | 2.15 | USD 256.28M | USD 618.08M | USD 398.50M |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-12 | USD 1.60B | 17.9 | n/a | n/a |
| 2025 | 2025-12-31 | USD 1.82B | 25.7 | n/a | n/a |
| 2024 | 2024-12-31 | USD 2.82B | 42.0 | 0.8% | 0.54 |
| 2023 | 2023-12-29 | USD 2.38B | 34.6 | 1.3% | 0.72 |
| 2022 | 2022-12-30 | USD 2.18B | 23.5 | 1.4% | 0.72 |
| 2021 | 2021-12-31 | USD 2.13B | 27.4 | 1.5% | 0.72 |
Dividend history
| Year | Dividends/share |
|---|---|
| FY2024 | 0.53 USD |
| FY2023 | 0.7 USD |
| FY2022 | 0.7 USD |
About Progress Software Corp
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;
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Frequently asked questions
Is Progress Software Corp overvalued or undervalued?
Bullrun's valuation model currently marks Progress Software Corp as 4.7% undervalued.
What is Progress Software Corp's market cap?
Progress Software Corp's market capitalization is USD 1.60B.
What is Progress Software Corp's P/E ratio?
Progress Software Corp's price-to-earnings (P/E) ratio is 17.9.
What does Progress Software Corp do?
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.