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PROGRESS SOFTWARE CORP /MA

PRGS Clue Score51
United States Fiscal year ends November CIK 0000876167
$39.33 +2.74% Close, 9 Oct 2026
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Price $39.33 −19.54% 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 2016Revenue405.3Operating income−29.7Net income−55.7EPS, diluted−1.13Fiscal year 2017Revenue389.2 −4.0%Operating income57.5Net income29.0EPS, diluted0.60Fiscal year 2018Revenue379.0 −2.6%Operating income67.8Net income49.7 +71.2%EPS, diluted1.08 +80.0%Fiscal year 2019Revenue413.3 +9.1%Operating income40.1Net income26.4 −46.8%EPS, diluted0.58 −46.3%Fiscal year 2020Revenue442.2 +7.0%Operating income107.7Net income79.7 +202.0%EPS, diluted1.76 +203.4%Fiscal year 2021Revenue531.3 +20.2%Operating income116.1Net income78.4 −1.6%EPS, diluted1.76 +0.0%Fiscal year 2022Revenue602.0 +13.3%Operating income132.1Net income95.1 +21.2%EPS, diluted2.15 +22.2%Fiscal year 2023Revenue694.4 +15.4%Operating income110.5Net income70.2 −26.2%EPS, diluted1.57 −27.0%Fiscal year 2024Revenue753.4 +8.5%Operating income124.0Net income68.4 −2.5%EPS, diluted1.54 −1.9%Fiscal year 2025Revenue977.8 +29.8%Operating income153.3Net income73.1 +6.9%EPS, diluted1.66 +7.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 405.3 389.2 379.0 413.3 442.2 531.3 602.0 694.4 753.4 977.8
Growth −4.0% −2.6% +9.1% +7.0% +20.2% +13.3% +15.4% +8.5% +29.8%
Operating income −29.7 57.5 67.8 40.1 107.7 116.1 132.1 110.5 124.0 153.3
Net income −55.7 29.0 49.7 26.4 79.7 78.4 95.1 70.2 68.4 73.1
Growth +71.2% −46.8% +202.0% −1.6% +21.2% −26.2% −2.5% +6.9%
EPS, diluted −1.13 0.60 1.08 0.58 1.76 1.76 2.15 1.57 1.54 1.66
Growth +80.0% −46.3% +203.4% +0.0% +22.2% −27.0% −1.9% +7.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin83.8%Operating margin−7.3%Net margin−13.7%Free cash flow margin23.9%Fiscal year 2017Gross margin82.2%Operating margin14.8%Net margin7.5%Free cash flow margin26.3%Fiscal year 2018Gross margin82.3%Operating margin17.9%Net margin13.1%Free cash flow margin30.1%Fiscal year 2019Gross margin81.8%Operating margin9.7%Net margin6.4%Free cash flow margin30.1%Fiscal year 2020Gross margin86.0%Operating margin24.4%Net margin18.0%Free cash flow margin31.3%Fiscal year 2021Gross margin85.2%Operating margin21.9%Net margin14.8%Free cash flow margin32.7%Fiscal year 2022Gross margin84.3%Operating margin21.9%Net margin15.8%Free cash flow margin30.9%Fiscal year 2023Gross margin81.8%Operating margin15.9%Net margin10.1%Free cash flow margin24.2%Fiscal year 2024Gross margin82.7%Operating margin16.5%Net margin9.1%Free cash flow margin27.4%Fiscal year 2025Gross margin80.8%Operating margin15.7%Net margin7.5%Free cash flow margin23.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 83.8% 82.2% 82.3% 81.8% 86.0% 85.2% 84.3% 81.8% 82.7% 80.8%
Operating margin −7.3% 14.8% 17.9% 9.7% 24.4% 21.9% 21.9% 15.9% 16.5% 15.7%
Net margin −13.7% 7.5% 13.1% 6.4% 18.0% 14.8% 15.8% 10.1% 9.1% 7.5%
Free cash flow margin 23.9% 26.3% 30.1% 30.1% 31.3% 32.7% 30.9% 24.2% 27.4% 23.5%

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 flow102.8Capital expenditure−5.8Free cash flow97.1Buybacks−79.2Dividends paid0.0Fiscal year 2017Operating cash flow105.7Capital expenditure−3.4Free cash flow102.3 +5.4%Buybacks−73.9Dividends paid−24.1Fiscal year 2018Operating cash flow121.4Capital expenditure−7.3Free cash flow114.1 +11.5%Buybacks−120.0Dividends paid−25.8Fiscal year 2019Operating cash flow128.5Capital expenditure−4.0Free cash flow124.5 +9.1%Buybacks−25.0Dividends paid−27.8Fiscal year 2020Operating cash flow144.8Capital expenditure−6.5Free cash flow138.3 +11.1%Buybacks−60.0Dividends paid−29.9Fiscal year 2021Operating cash flow178.5Capital expenditure−4.7Free cash flow173.9 +25.7%Buybacks−35.0Dividends paid−31.6Fiscal year 2022Operating cash flow192.2Capital expenditure−6.1Free cash flow186.1 +7.0%Buybacks−77.0Dividends paid−31.1Fiscal year 2023Operating cash flow173.9Capital expenditure−5.6Free cash flow168.4 −9.5%Buybacks−34.0Dividends paid−31.6Fiscal year 2024Operating cash flow211.5Capital expenditure−5.2Free cash flow206.3 +22.5%Buybacks−86.8Dividends paid−31.5Fiscal year 2025Operating cash flow235.2Capital expenditure−5.7Free cash flow229.5 +11.2%Buybacks−105.2Dividends paid−0.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 102.8 105.7 121.4 128.5 144.8 178.5 192.2 173.9 211.5 235.2
Capital expenditure −5.8 −3.4 −7.3 −4.0 −6.5 −4.7 −6.1 −5.6 −5.2 −5.7
Free cash flow 97.1 102.3 114.1 124.5 138.3 173.9 186.1 168.4 206.3 229.5
Growth +5.4% +11.5% +9.1% +11.1% +25.7% +7.0% −9.5% +22.5% +11.2%
Buybacks −79.2 −73.9 −120.0 −25.0 −60.0 −35.0 −77.0 −34.0 −86.8 −105.2
Dividends paid 0.0 −24.1 −25.8 −27.8 −29.9 −31.6 −31.1 −31.6 −31.5 −0.8

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash207.0Total debt135.0Net cash (debt)72.0Shareholders’ equity442.7Debt to equity0.30Fiscal year 2017Cash133.5Total debt121.9Net cash (debt)11.6Shareholders’ equity404.4Debt to equity0.30Fiscal year 2018Cash105.1Total debt116.1Net cash (debt)−11.0Shareholders’ equity324.0Debt to equity0.36Fiscal year 2019Cash154.3Total debt294.7Net cash (debt)−140.5Shareholders’ equity330.3Debt to equity0.89Fiscal year 2020Cash98.0Total debt382.5Net cash (debt)−284.5Shareholders’ equity346.0Debt to equity1.11Fiscal year 2021Cash155.4Total debt560.3Net cash (debt)−404.9Shareholders’ equity412.5Debt to equity1.36Fiscal year 2022Cash256.3Total debt618.1Net cash (debt)−361.8Shareholders’ equity398.5Debt to equity1.55Fiscal year 2023Cash127.0Total debt724.0Net cash (debt)−597.0Shareholders’ equity459.7Debt to equity1.57Fiscal year 2024Cash118.1Total debt1,526.3Net cash (debt)−1,408.2Shareholders’ equity438.8Debt to equity3.48Fiscal year 2025Cash94.8Total debt1,400.3Net cash (debt)−1,305.5Shareholders’ equity478.3Debt to equity2.93
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 207.0 133.5 105.1 154.3 98.0 155.4 256.3 127.0 118.1 94.8
Total debt 135.0 121.9 116.1 294.7 382.5 560.3 618.1 724.0 1,526.3 1,400.3
Net cash (debt) 72.0 11.6 −11.0 −140.5 −284.5 −404.9 −361.8 −597.0 −1,408.2 −1,305.5
Shareholders’ equity 442.7 404.4 324.0 330.3 346.0 412.5 398.5 459.7 438.8 478.3
Debt to equity 0.30 0.30 0.36 0.89 1.11 1.36 1.55 1.57 3.48 2.93

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

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending November, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 30 Nov 2016 FY2017 30 Nov 2017 FY2018 30 Nov 2018 FY2019 30 Nov 2019 FY2020 30 Nov 2020 FY2021 30 Nov 2021 FY2022 30 Nov 2022 FY2023 30 Nov 2023 FY2024 30 Nov 2024 FY2025 30 Nov 2025
Assets
207.0 133.5 105.1 154.3 98.0 155.4 256.3 127.0 118.1 94.8
65.7 61.2 59.7 72.8 84.0 99.8 97.8 125.8 163.6 195.8
n/a n/a n/a n/a 0.0 3.6 5.0 n/a n/a n/a
50.1 42.3 30.7 29.8 29.8 14.3 14.9 15.2 13.7 13.7
278.1 315.0 315.0 432.8 491.7 671.2 671.0 832.1 1,292.2 1,309.1
754.8 718.7 644.2 881.3 1,041.8 1,363.5 1,411.5 1,602.8 2,527.0 2,457.7
Growth −4.8% −10.4% +36.8% +18.2% +30.9% +3.5% +13.6% +57.7% −2.7%
Liabilities
15.0 5.8 5.8 10.7 18.2 25.8 6.2 13.1 0.0 359.2
120.0 116.1 110.3 284.0 364.3 534.5 611.8 710.9 1,526.3 1,041.2
calc 135.0 121.9 116.1 294.7 382.5 560.3 618.1 724.0 1,526.3 1,400.3
Equity
195.7 145.2 85.1 64.3 72.5 90.3 101.7 120.9 120.4 127.4
442.7 404.4 324.0 330.3 346.0 412.5 398.5 459.7 438.8 478.3
Growth −8.7% −19.9% +1.9% +4.8% +19.2% −3.4% +15.4% −4.6% +9.0%
Per share and net cash
calc 72.0 11.6 −11.0 −140.5 −284.5 −404.9 −361.8 −597.0 −1,408.2 −1,305.5
48.5 47.3 45.1 45.0 44.2 44.1 43.3 43.8 43.4 42.3
calc 9.12 8.55 7.18 7.33 7.82 9.34 9.21 10.50 10.12 11.30

Lines marked calc are worked out here from filed figures; point at one for how.