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PEGASYSTEMS INC

PEGA Clue Score67
United States Fiscal year ends December CIK 0001013857
$35.65 +0.45% Close, 9 Oct 2026
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Price $35.65 −70.86% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue762.2Operating income50.6Net income45.0EPS, diluted0.56Fiscal year 2017Revenue888.5 +16.6%Operating income93.2Net income98.5 +118.9%EPS, diluted1.19Fiscal year 2018Revenue891.6 +0.4%Operating income−17.0Net income10.6 −89.2%EPS, diluted0.13Fiscal year 2019Revenue911.4 +2.2%Operating income−134.9Net income−90.4 −951.8%EPS, diluted−1.14Fiscal year 2020Revenue1,017.5 +11.6%Operating income−143.5Net income−61.4EPS, diluted−0.76Fiscal year 2021Revenue1,211.7 +19.1%Operating income−94.7Net income−63.0EPS, diluted−0.77Fiscal year 2022Revenue1,317.8 +8.8%Operating income−109.4Net income−345.6EPS, diluted−4.22Fiscal year 2023Revenue1,432.6 +8.7%Operating income81.0Net income67.8EPS, diluted0.37Fiscal year 2024Revenue1,497.2 +4.5%Operating income123.9Net income99.2 +46.3%EPS, diluted0.55Fiscal year 2025Revenue1,745.8 +16.6%Operating income263.1Net income393.4 +296.7%EPS, diluted2.13
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 762.2 888.5 891.6 911.4 1,017.5 1,211.7 1,317.8 1,432.6 1,497.2 1,745.8
Growth +16.6% +0.4% +2.2% +11.6% +19.1% +8.8% +8.7% +4.5% +16.6%
Operating income 50.6 93.2 −17.0 −134.9 −143.5 −94.7 −109.4 81.0 123.9 263.1
Net income 45.0 98.5 10.6 −90.4 −61.4 −63.0 −345.6 67.8 99.2 393.4
Growth +118.9% −89.2% −951.8% +46.3% +296.7%
EPS, diluted 0.56 1.19 0.13 −1.14 −0.76 −0.77 −4.22 0.37 0.55 2.13

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin68.6%Operating margin6.6%Net margin5.9%Free cash flow margin2.7%Fiscal year 2017Gross margin68.5%Operating margin10.5%Net margin11.1%Free cash flow margin16.3%Fiscal year 2018Gross margin66.2%Operating margin−1.9%Net margin1.2%Free cash flow margin10.4%Fiscal year 2019Gross margin66.0%Operating margin−14.8%Net margin−9.9%Free cash flow margin−5.8%Fiscal year 2020Gross margin69.4%Operating margin−14.1%Net margin−6.0%Free cash flow margin−2.5%Fiscal year 2021Gross margin72.2%Operating margin−7.8%Net margin−5.2%Free cash flow margin2.4%Fiscal year 2022Gross margin72.0%Operating margin−8.3%Net margin−26.2%Free cash flow margin−1.0%Fiscal year 2023Gross margin73.6%Operating margin5.7%Net margin4.7%Free cash flow margin14.0%Fiscal year 2024Gross margin73.9%Operating margin8.3%Net margin6.6%Free cash flow margin22.6%Fiscal year 2025Gross margin75.9%Operating margin15.1%Net margin22.5%Free cash flow margin28.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 68.6% 68.5% 66.2% 66.0% 69.4% 72.2% 72.0% 73.6% 73.9% 75.9%
Operating margin 6.6% 10.5% −1.9% −14.8% −14.1% −7.8% −8.3% 5.7% 8.3% 15.1%
Net margin 5.9% 11.1% 1.2% −9.9% −6.0% −5.2% −26.2% 4.7% 6.6% 22.5%
Free cash flow margin 2.7% 16.3% 10.4% −5.8% −2.5% 2.4% −1.0% 14.0% 22.6% 28.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow39.9Capital expenditure−19.1Free cash flow20.8Buybacks−27.2Dividends paid−9.2Fiscal year 2017Operating cash flow158.2Capital expenditure−13.7Free cash flow144.5 +595.2%Buybacks−4.3Dividends paid−9.3Fiscal year 2018Operating cash flow104.4Capital expenditure−11.9Free cash flow92.5 −36.0%Buybacks−54.4Dividends paid−9.4Fiscal year 2019Operating cash flow−42.2Capital expenditure−10.6Free cash flow−52.8 −157.1%Buybacks−22.1Dividends paid−9.5Fiscal year 2020Operating cash flow−0.6Capital expenditure−25.4Free cash flow−25.9Buybacks−28.0Dividends paid−9.6Fiscal year 2021Operating cash flow39.1Capital expenditure−10.5Free cash flow28.7Buybacks−52.7Dividends paid−9.8Fiscal year 2022Operating cash flow22.3Capital expenditure−35.4Free cash flow−13.0 −145.5%Buybacks−25.7Dividends paid−9.8Fiscal year 2023Operating cash flow217.8Capital expenditure−16.8Free cash flow201.0Buybacks0.0Dividends paid−10.0Fiscal year 2024Operating cash flow345.9Capital expenditure−7.7Free cash flow338.2 +68.3%Buybacks−68.1Dividends paid−10.2Fiscal year 2025Operating cash flow505.2Capital expenditure−14.5Free cash flow490.7 +45.1%Buybacks−499.7Dividends paid−15.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 39.9 158.2 104.4 −42.2 −0.6 39.1 22.3 217.8 345.9 505.2
Capital expenditure −19.1 −13.7 −11.9 −10.6 −25.4 −10.5 −35.4 −16.8 −7.7 −14.5
Free cash flow 20.8 144.5 92.5 −52.8 −25.9 28.7 −13.0 201.0 338.2 490.7
Growth +595.2% −36.0% −157.1% −145.5% +68.3% +45.1%
Buybacks −27.2 −4.3 −54.4 −22.1 −28.0 −52.7 −25.7 0.0 −68.1 −499.7
Dividends paid −9.2 −9.3 −9.4 −9.5 −9.6 −9.8 −9.8 −10.0 −10.2 −15.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash70.6Shareholders’ equity548.9Fiscal year 2017Cash162.3Shareholders’ equity655.9Fiscal year 2018Cash114.4Shareholders’ equity621.5Fiscal year 2019Cash68.4Shareholders’ equity539.0Fiscal year 2020Cash171.9Shareholders’ equity542.2Fiscal year 2021Cash160.0Shareholders’ equity416.1Fiscal year 2022Cash145.1Shareholders’ equity130.8Fiscal year 2023Cash229.9Shareholders’ equity353.8Fiscal year 2024Cash337.1Shareholders’ equity585.5Fiscal year 2025Cash212.4Shareholders’ equity787.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 70.6 162.3 114.4 68.4 171.9 160.0 145.1 229.9 337.1 212.4
Shareholders’ equity 548.9 655.9 621.5 539.0 542.2 416.1 130.8 353.8 585.5 787.4

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
68.6% 68.5% 66.2% 66.0% 69.4% 72.2% 72.0% 73.6% 73.9% 75.9%
6.6% 10.5% −1.9% −14.8% −14.1% −7.8% −8.3% 5.7% 8.3% 15.1%
7.3% 9.7% −1.3% −14.8% −12.3% −10.9% −12.3% 6.7% 9.5% 16.1%
5.9% 11.1% 1.2% −9.9% −6.0% −5.2% −26.2% 4.7% 6.6% 22.5%
2.7% 16.3% 10.4% −5.8% −2.5% 2.4% −1.0% 14.0% 22.6% 28.1%
Spending
19.1% 18.3% 20.4% 22.5% 23.3% 21.5% 22.3% 20.6% 19.9% 17.9%
6.0% 5.9% 5.8% 6.2% 6.6% 6.9% 8.9% 6.8% 7.5% 8.5%
2.5% 1.5% 1.3% 1.2% 2.5% 0.9% 2.7% 1.2% 0.5% 0.8%
18.7% −14.3% n/a n/a n/a n/a n/a 29.0% 30.5% −40.2%
Returns
8.2% 15.0% 1.7% −16.8% −11.3% −15.2% −264.1% 19.2% 16.9% 50.0%
6.9% 9.7% 1.1% −9.2% −3.8% −4.0% −25.5% 4.5% 5.6% 24.1%
Balance and payout
48.7% 35.2% 36.7% 45.3% 66.2% 73.9% 90.4% 76.6% 66.9% 51.7%
20.4% 9.4% 88.8% n/a n/a n/a n/a 14.7% 10.3% 3.9%
175.2% 9.4% 69.1% n/a n/a 218.0% n/a 5.0% 23.1% 105.0%