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Progress Software Valuation Multiples
Discover revenue and EBITDA valuation multiples for Progress Software and similar public comparables like Jamf, Justsystems, Beijing VRV Software, DPtech and more.
Progress Software Overview
About Progress Software
Progress Software Corp provides software operate in one operating segment: software products for the development, deployment, and management of responsible, AI-powered applications and digital experiences. The following are products: Chef, Corticon, Data Direct, Developer Tools, Flowmon, Kemp LoadMaster, MarkLogic, MOVEit, OpenEdge, Semaphore, ShareFile, Sitefinity, WhatsUp Gold. Geographical regions include the United States, Canada, EMEA, Latin America, and Asia Pacific.
Founded
2015
HQ
Employees
2.8K
Website
Financials (LTM)
EV
$3B
Progress Software Financials
Progress Software reported last 12-month revenue of $982M and EBITDA of $392M.
In the same LTM period, Progress Software generated $829M in gross profit, $392M in EBITDA, and $253M in net income.
Revenue (LTM)
Progress Software P&L
In the most recent fiscal year, Progress Software reported revenue of $978M and EBITDA of $391M.
Progress Software expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $982M | XXX | $978M | XXX | XXX | XXX |
| Gross Profit | $829M | XXX | $790M | XXX | XXX | XXX |
| Gross Margin | 84% | XXX | 81% | XXX | XXX | XXX |
| EBITDA | $392M | XXX | $391M | XXX | XXX | XXX |
| EBITDA Margin | 40% | XXX | 40% | XXX | XXX | XXX |
| EBIT Margin | 39% | XXX | 39% | XXX | XXX | XXX |
| Net Profit | $253M | XXX | $252M | XXX | XXX | XXX |
| Net Margin | 26% | XXX | 26% | XXX | XXX | XXX |
| Net Debt | — | — | $1B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Progress Software Stock Performance
Progress Software has current market cap of $2B, and enterprise value of $3B.
Market Cap Evolution
Progress Software's stock price is $38.56.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $3B | $2B | 0.0% | XXX | XXX | XXX | $5.98 |
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Start Free TrialProgress Software Valuation Multiples
Progress Software trades at 3.0x EV/Revenue multiple, and 7.5x EV/EBITDA.
EV / Revenue (LTM)
Progress Software Financial Valuation Multiples
As of March 17, 2026, Progress Software has market cap of $2B and EV of $3B.
Equity research analysts estimate Progress Software's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Progress Software has a P/E ratio of 6.4x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV/Revenue | 3.0x | XXX | 3.0x | XXX | XXX | XXX |
| EV/EBITDA | 7.5x | XXX | 7.6x | XXX | XXX | XXX |
| EV/EBIT | 7.7x | XXX | 7.7x | XXX | XXX | XXX |
| EV/Gross Profit | 3.6x | XXX | 3.7x | XXX | XXX | XXX |
| P/E | 6.4x | XXX | 6.4x | XXX | XXX | XXX |
| EV/FCF | 12.0x | XXX | 12.0x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Progress Software Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Progress Software Margins & Growth Rates
Progress Software's revenue in the last 12 month grew by 2%.
Progress Software's revenue per employee in the last FY averaged $0.4M.
Progress Software's rule of 40 is 41% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Progress Software's rule of X is 44% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Progress Software Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 2% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | 40% | XXX | 40% | XXX | XXX | XXX |
| EBITDA Growth | 1% | XXX | 1% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 41% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 44% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 21% | XXX | 22% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 9% | XXX | 11% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 18% | XXX | 20% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 63% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Progress Software Public Comps
See public comps and valuation multiples for other Cybersecurity and Developer Tools comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Jamf | XXX | XXX | XXX | XXX | XXX | XXX |
| Justsystems | XXX | XXX | XXX | XXX | XXX | XXX |
| Beijing VRV Software | XXX | XXX | XXX | XXX | XXX | XXX |
| DPtech | XXX | XXX | XXX | XXX | XXX | XXX |
| A10 Networks | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Progress Software M&A Activity
Progress Software acquired XXX companies to date.
Last acquisition by Progress Software was on XXXXXXXX, XXXXX. Progress Software acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Progress Software
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
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Start Free TrialProgress Software Investment Activity
Progress Software invested in XXX companies to date.
Progress Software made its latest investment on XXXXXXXX, XXXXX. Progress Software invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Progress Software
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Progress Software
| When was Progress Software founded? | Progress Software was founded in 2015. |
| Where is Progress Software headquartered? | Progress Software is headquartered in United States. |
| How many employees does Progress Software have? | As of today, Progress Software has over 2K employees. |
| Who is the CEO of Progress Software? | Progress Software's CEO is Yogesh K. Gupta. |
| Is Progress Software publicly listed? | Yes, Progress Software is a public company listed on Nasdaq. |
| What is the stock symbol of Progress Software? | Progress Software trades under PRGS ticker. |
| When did Progress Software go public? | Progress Software went public in 1991. |
| Who are competitors of Progress Software? | Progress Software main competitors are Jamf, Justsystems, Beijing VRV Software, DPtech. |
| What is the current market cap of Progress Software? | Progress Software's current market cap is $2B. |
| What is the current revenue of Progress Software? | Progress Software's last 12 months revenue is $982M. |
| What is the current revenue growth of Progress Software? | Progress Software revenue growth (NTM/LTM) is 2%. |
| What is the current EV/Revenue multiple of Progress Software? | Current revenue multiple of Progress Software is 3.0x. |
| Is Progress Software profitable? | Yes, Progress Software is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Progress Software? | Progress Software's last 12 months EBITDA is $392M. |
| What is Progress Software's EBITDA margin? | Progress Software's last 12 months EBITDA margin is 40%. |
| What is the current EV/EBITDA multiple of Progress Software? | Current EBITDA multiple of Progress Software is 7.5x. |
| What is the current FCF of Progress Software? | Progress Software's last 12 months FCF is $247M. |
| What is Progress Software's FCF margin? | Progress Software's last 12 months FCF margin is 25%. |
| What is the current EV/FCF multiple of Progress Software? | Current FCF multiple of Progress Software is 12.0x. |
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